Webster Groves building sold for $9 million

Crevo Capital, an Edwardsville-based private real estate firm, has acquired a Webster Groves building for $9 million.

Crevo bought the building at 373 Marshall Ave., which serves as a technical center for Israeli Chemicals Limited (ICL) Performance Products, from OP Partners, a business entity with an organizer listed as David Spewak, a Clayton attorney with Wittner Spewak Maylack.

The property, according to St. Louis County records, has an appraised value of $740,000. The deal closed in June.

ICL is a global manufacturer of products based on specialty minerals in agriculture, food and engineered materials markets. The company has about 14,000 employees worldwide, according to its website, and 2015 sales of $4.86 billion. The company is a unit of Israel-based ICL Group. ICL Performance Products, led by President and CEO Mark Volmer, is headquartered in Creve Coeur.

Crevo Capital is the new name of Enclave Capital Management, which in January renamed itself as it focused more on real estate investment.

The firm’s portfolio includes multifamily and office properties in the Metro East.

October 31, 2016  |  Brain Feldt
St. Louis Business Journal