Avison Young has secured the exclusive sale listing for a fully leased, 207,503-square-foot industrial facility at 687 Fee Fee Road in the St. Louis market.
Avison Young Principals Erik Foster and Mike Wilson, who are both based in the firm’s Chicago office and members of the company’s national industrial capital markets group, will represent the seller of the facility in conjunction with Tim Convy, who is managing director of Avison Young’s St. Louis office. The seller is a Midwest-based real estate investment firm.
The building, which sits on a 15.30-acre parcel of land, is 76 percent leased to World Wide Technology, a global technology company with $9 billion in annual sales. Cowley Distributing, a leading company in the book and magazine market, leases the remaining 24 percent. There also is land available for additional development, as the current building covers only 31 percent of the site.
The location is less than one mile from World Wide Technology’s newly built headquarters and is one of six buildings the company utilizes in the area.
The building is in the Westport infill submarket, which has minimal available land and strong demand. Deliveries in the past decade have only totaled 50,500 square feet while vacancy has dropped from 11 percent to 4.8 percent. This property also offers proximity to Interstate-270, Route 67, and Interstate-70, and is approximately six miles from the St. Louis Lambert International Airport.