stL-GEODIS (2) Now occupied by GEODIS, a global 3PL, this is just one of five buildings developed by Tri-Star and PCCP at Gateway Commerce Center in Edwardsville, IL.

ST. LOUIS—The US industrial sector has entered a golden age, and investors have become eager to buy up class A properties in both core and secondary markets. Developer TriStar Properties has sold two mega-cube distribution centers it completed earlier this year at Gateway Commerce Center in Edwardsville, IL, to Dallas-based L&B Realty Advisors. The buildings total 1.14 million square feet and occupy a combined 99 acres of land. GEODIS and DB Schenker, both international 3PLs, each recently agreed to lease one of the new structures. The sales price was $64 million.

PCCP, LLC, a national real estate finance and investment management concern, teamed up with TriStar to develop the buildings at Gateway, a 2,300-acre logistics and bulk distribution park located across the Mississippi River from St. Louis in the Metro East submarket. Gateway now has around 13 million square feet, and has become one of the most coveted industrial sites in the Midwest.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.