KBS Realty Advisors has paid $74.25 million for Pierre Laclede, a 580,000-square-foot office complex in the St. Louis suburb of Clayton, Mo.

The Newport Beach, Calif., investment manager purchased the two-building property, at 7701 and 7733 Forsyth Blvd., from BPG Properties Ltd., which had owned it through its BPG Investment Partnership VII fund. It had purchased the property in 2006 for $75 million. At the time, it was 91 percent occupied. After a number of capital improvements by BPG, occupancy has increased to 96 percent.

"It was time for us to sell and deploy the sale proceeds for other purposes in our portfolio," said Joseph I. Neverauskas, senior vice president of BPG.

The property sits at the intersection of Hanley Road and Forsyth Boulevard, about 20 minutes from downtown St Louis. It is named after the founder of St. Louis and accounts for roughly 10 percent of the nearly 5 million sf of office space in Clayton. It is comprised of 16- and 23-story office buildings and an underground parking garage with a 1,300-vehicle capacity.

BPG was represented in the sale by Colliers Turley Martin Tucker.

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