Cassidy Turley has helped Boston-based Great Point Investors purchase the Gateway Industrial Portfolio in Edwardsville, Ill. The two buildings, 7 and 29 Gateway Commerce Center Drive, total 780,000 square feet, and are located in the St. Louis Metro East industrial submarket.
TMT Properties, Inc. of Edwardsville sold the Gateway Industrial Portfolio and was represented by the Cassidy Turley team of Paul Hilton, senior managing director and principal, and Michael Hanrahan, senior managing director and principal, both of whom are based in Cassidy Turley’s St. Louis office.
The Gateway Industrial Portfolio is leased to credit tenants RAND Diversified (owned by Menasha Corp.) and Owens and Minor, as well as national grocer Save-A-Lot.
Built in 2001, 7 Gateway Commerce Center Drive has 360,000 square feet of industrial space plus 12,000 square feet of mezzanine office space. The building at 29 Gateway Commerce Center Drive, built in 2003, has 420,000 square feet of industrial space. Both buildings are 100-percent occupied.
