Hoffmann Commercial Real Estate has expanded its portfolio with the purchase of the Park Place office building at 100 S. Brentwood Boulevard in downtown Clayton.
Park Place is a 73,000-square-foot office complex that counts Moneta Group among its primary tenants. Adjacent to Shaw Park, Park Place sits at the hub of Clayton’s bustling and evolving business district.
In a press release, Hoffmann said it is enthusiastic about the potential for the area to grow with diverse offerings in retail, entertainment, and residential uses alongside established office properties.
“Clayton is in an exciting period of re-invention, and our company plans to participate fully in its growth,” notes CEO Greg Hoffmann. “Downtown is transforming from a 9-to-5 corporate district to an engaging destination for shopping, socializing and recreation, including the recent upgrades to Shaw Park. We have extensive experience in supporting community-wide enhancements that benefit our tenants, neighbors, and visitors.”
Hoffmann’s business model invests in existing commercial properties, improving entire districts to create a consistently welcoming visitor experience. Hoffmann acquisitions in Winnetka, IL, Naples, FL, and Avon/Beaver Creek, CO, have led the way to widespread improvements in each of those downtown areas. Outdoor music festivals, public sculpture walks, and façade updates are among the steps taken by the company to attract foot traffic and support tenants, the release said.
Hoffmann also owns the Business Bank Tower on Maryland Avenue and the Wydown Building on Hanley Road in Clayton.
The details of the purchase price were not disclosed.