Listing Agents
Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com
Rob Willard
T | 314.306.2119
rwillard@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Detailed Information
Location
Property Highlights
- Leasehold interest in the historic Union Market building that houses the 176-room Pear Tree Inn St. Louis Convention Center hotel
- Offered unencumbered of the Pear Tree brand and corporate management with several conversion options available from all major franchisors
- Union Market building includes 461 interior parking stalls that are controlled by the leasehold owner and generate over $300k of additional net income annually
- Union Market building is subject to an attractive, long-term ground lease with the City of St. Louis where the ground rent is fixed through 2038
- Ideally located adjacent to the St. Louis Convention Center and The Dome at the America’s Center Convention Complex, which is undergoing a $260 million expansion project scheduled for completion in 2024
- Within walking distance of the iconic Gateway Arch, St. Louis Cardinals Busch Stadium, and the Ballpark Village dining and entertainment district
- Immediately accessible to additional local demand including Contemporary Art Museum of St. Louis, St. Louis University, the Cortex Innovation Community, Stiefel Theater, and the Enterprise Center
- Readily accessible to all regional demand including St. Louis City SC, BJC HealthCare/Barnes-Jewish Hospital, St. Louis Children’s Hospital, Washington University/School of Medicine, Forest Park, and St. Louis Lambert International Airport
- There are $3.8 billion in projects targeted for downtown St. Louis alone including the $1.8 billion Gateway South / Chouteau’s Landing development by the riverfront and broader regional developments as well that include a $3.0 billion reconfiguration of St. Louis Lambert International Airport and Boeing’s $1.8 billion Project Voyager expansion project among many others
- In 2025, America’s Center’s top events are projected to book upwards of 313,000 contracted rooms, up ~21% from the amount of hotel rooms booked in 2019