The Locust Building in St. Louis is up for auction but not necessarily for a bargain price. The owner has imposed a reserve that must be met and even apparently reserves the right to refuse any bid. An acceptable winning bidder also is subject to a buyer's premium of 5% or $20,000. Opening bid is $1,500,000.

Still interested? Bidding will begin at noon CST on June 13, 2011, and end at 4 p.m. on June 15.

At 1015 Locust Street in the Washington Avenue Loft District, this 263,201 square foot property is 64% leased with Level 3 Communications, LLC and the St. Louis Development Corporation as major tenants. The building underwent substantial renovation in 2010, including an updated lobby and new exterior facade. Offered to tenants are a complement of amenities including parking (280 spaces total), on-site management, multiple conference rooms, building security and valet visitor parking.

For more information contact Rick Weinberg by sending an e-mail here or by phoning (949) 648-3815.

To register to bid, the public may go here.

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