P&G Signs 1M-SF Lease for WH/Distribution

EDWARDSVILLE, IL-Proctor & Gamble has signed a lease for nearly 1.2 million sf at 3101 Westway Dr., here. The term of the lease is five years, says Terry Stieve, SVP and principal with Colliers Turley Martin Tucker. The deal is valued at $24.3 million.

The tenant began occupying space this month in the 580,000-sf building on the site, Stieve says. The building was completed on a speculative basis in the first quarter of this year and was developed by the Washington DC-based Multi-Employer Property Trust, which owns the building, and Trammel Crow Co. The building will be expanded to nearly 1.2 million sf, he tells GlobeSt.com. The expansion is expected to be complete by the end of the year, he says.