(Read more on the industrial market.)
MARYLAND HEIGHTS, MO-Koch Air LLC has agreed to lease 108,000 sf of the 144,000-sf Riverport Four building here at 3101 Riverport Tech Center Dr. The company, a distributor of residential air conditioning products, is relocating from two older properties in St. Louis.
The lease includes a 22,000-sf office build-out for Koch, and the building features 24-foot clear height ceilings, multiple dock-high, drive-in doors, ESFR sprinkler systems and an extensive glass line. Matt Hrubes, senior leasing representative for owner Duke Realty Corp., says the company is marketing the remaining space at $6 per sf, triple net, with 15% office finish. Dan Merlo and Gary Parker with the St. Louis-based Sansone Group represented Koch in the lease.
The property is in the 500-acre Riverport Business Park at Interstate 270 and Interstate 70, which includes multiple office and industrial facilities, as well as hotels, retail and entertainment such as the Verizon Amphitheater. Hrubes says Duke, which built Riverport buildings one through three, as well as various office buildings in the park, plans to start construction on Riverport Five after Four is leased up. “It would be the same type of building as Four,” Hrubes says. “It would also be a spec building. There's not an overabundance of this type of product in the area, and we've had moderate activity.”
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
