Avison Young has been awarded the exclusive sale listing for a 154,736-square-foot industrial portfolio in the St. Louis market.
The buildings are 100 percent occupied by LMI Aerospace, a supplier of structural assemblies, kits and components, and design engineering services to the aerospace industry. The buildings are located at 3030 N. Highway 94 and 3600 Mueller Street in St. Charles, Missouri, part of the St. Louis industrial market. LMI Aerospace is proposing a 10-year leaseback.
Avison Young principals Erik Foster and Mike Wilson, based in the company’s Chicago office and practice leaders of the firm’s national industrial capital markets group, are working in conjunction with Avison Young principal Tim Convy, who is based in the firm’s St. Louis office. The team is representing the seller, the Sonaca Group, which recently purchased LMI Aerospace.
The buildings have been leased by LMI Aerospace for more than 30 years.
LMI Aerospace, a member of Belgian government-affiliated Sonaca Group, is a supplier to large commercial-aircraft manufacturers, including well-recognized companies such as Boeing, Spirit Aerosystems and Gulfstream.
Since moving into the buildings, LMI Aerospace has installed fully-automated manufacturing equipment, critical utilities infrastructure and specialized substructure to accommodate its processing machinery.
