"This building has a parking lot behind it for public parking, where most of the Clayton submarket charges for parking," Balk tells GlobeSt.com. "There are restaurants, art galleries, movie theaters and more within walking distance, which is attractive to creative firms, because they come early and stay late and can go places in the area easily. They also liked the gutted open space."

The Louis London Building consists of two three-story buildings built in 1920 that were later converted into Class B multi-tenant office space. The buildings are connected by a sky bridge and offer 15-foot ceilings, exposed duct work and an outdoor patio. During the past year, the property owners have put $1.5 million into renovations to the building, including work on the lobby, bathrooms, common corridors and individual tenant improvements.

The building is located in the University City Loop in the Clayton submarket. "This building is doing very well, but otherwise the market is a little slow," Balk says. The buildings offer 46,000 square feet of office for asking lease rates around $19.50, gross. The office component of the the Louis London Building is now about 65% occupied, but was completely vacant for a period in 2007, following the departure of former tenant Momentum, which occupied the property fully.

The property also offer 26,000 square feet of retail. The space is 100% occupied by tenants including Blockbuster, Jimmy John's and The Melting Pot. Asking lease rates for the retail are around $30, net.