Real estate group taking over St. Joseph American Family facility
By NewsPress Now
Sky Real Estate, a Kansas City-based investment firm, has acquired the American Family Insurance campus in St. Joseph.
The space, which spans more than 360,000 square feet, will be rebranded as STJ Office Campus. The deal includes a leaseback agreement with American Family Insurance for about 60,000 square feet.
STJ plans to offer move-in ready, fully furnished spaces ranging from 150 to 5,000 square feet with availability for larger tenants. The facility includes state-of-the-art technology infrastructure and a large parking area.
“We saw an opportunity to acquire a high-quality, well-managed office property with significant upside potential,” said Wes Grammer, president of Sky Real Estate. “American Family Insurance has meticulously cared for this campus, and we are thrilled to have their employees continue to work in an area of the property, while we also bring this quality offering to other companies in the region.”
Sky Real Estate also redeveloped the American Electric Lofts in St. Joseph.
The campus at 4802 Mitchell Ave. served as the American Family regional headquarters but has been largely vacant since employees moved to work from home during the COVID-19 pandemic. An American Family spokesperson told News-Press NOW in 2021 that the company planned to sell or lease the building that once housed more than 800 employees.
The campus was at one point considered by the St. Joseph School District as a site for a new high school.
In addition to the rebranding efforts, signage upgrades and enhancements to common areas also are planned. Berkshire Hathaway HomeServices Stein & Summers Real Estate and AREA Real Estate Advisors will handle leasing, and AREA also will manage the property.
“We believe in the momentum of the St. Joseph market, particularly with respect to its proximity to Kansas City and the new airport, just 30 minutes away,” Grammer said. “This acquisition allows us to offer a wide variety of office solutions, from furnished suites to larger-scale blocks, catering to diverse tenant needs.”
