ST. LOUIS—Developer GBT Realty Corp. recently acquired the largest retail development site in the St. Louis metro area since 2008 and is ready to build. Located in suburban St. Peters, MO, the property, dubbed The Shoppes at Mid Rivers, has already attracted national household tenants such as Academy Sports + Outdoor – only the third in the St. Louis area. Brentwood, TN-based GBT finalized its acquisition of the property on October 25.

The 270,000-square-foot power center will rise on 28 acres that sits adjacent to I-70. The interest shown in a parcel of this size by both investors and retailers is a sign that the suburban market has really taken off.

“This property has been looked at by a lot of people in the past,” and due to the affluent population and quick access to major transportation arteries, “it is one of the strongest submarkets in the St. Louis area,” Jeff Pape, managing director, shopping center division, GBT Realty, told GlobeSt.com. And retailers have certainly made it clear they are ready to occupy the space. “It's no mistake we chose this market for one of our largest projects in the past decade.”