Cassidy Turley, a leading commercial real estate provider in the U.S., announced today that St. Louis-based TriStar Properties has begun development on the first speculative industrial building to be constructed in St. Louis since 2007.
Cassidy Turley Senior Vice President Ed Lampitt will lead the leasing effort for the 540,000-square-foot facility at Gateway Commerce Center, the premier big-box industrial park in St. Louis. The Class A modern bulk building will have expansion capabilities to more than 1 million square feet and will be available for occupancy in the summer of 2014. The property, located in the Enterprise Zone, offers tax abatements and is part of a 600-acre land parcel TriStar recently made available in Gateway Commerce Center.
“Cassidy Turley’s experience with TriStar and in Gateway dates back to 2005 when the first spec building was constructed in the center,” Mr. Lampitt said. “That first building was a tremendous success, and we believe this building will have a similar positive impact for the St. Louis industrial market. This is an important project for continued growth in the St. Louis market. We are extremely excited to have the opportunity to work with TriStar on such an important project.”
Gateway Commerce Center is situated at the intersection of Interstate 270 and Interstate 255 and contains approximately 10 million square feet of industrial development. It is home to leading corporate tenants such as Unilever, Proctor & Gamble, Ozburn-Hessey Logistics and Hershey.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information.