SparrowHawk, through a joint venture partnership with Almanac Realty Investors, acquired a second Midwest distribution center that is part of an aggressive regional acquisition strategy. The Houston-based industrial investment and management firm acquired Premier 370 DC II, the 366,900-square-foot distribution center on 20 acres in the Premier 370 Business Park in St. Peters in the St. Louis market.
The purchase price was $28.5 million.
In late 2025, Almanac committed $300 million in growth capital to SparrowHawk, an industrial real estate investment and management firm. According to SparrowHawk, that growth capital commitment could translate to approximately $1 billion in purchasing power. SparrowHawk already has put that capital to work with the earlier acquisition of the 100% leased, 764,735-square-foot modern warehouse building at 31450 W. 196th Street in Edgerton (Kansas City), Kansas.
Premier 370 DC II, the property in St. Louis, originally was developed and marketed by Panattoni as either a single- or multi-tenant facility in 2023.
After Reaction Auto Parts completed its lease for 265,393 square feet of space, the address of its portion of the building became 7031 Premier Parkway address. The remaining 101,000-squre-foot space, with the 7001 Premier Blvd. address, has been leased by Crown Packaging Corp. which is based in Chesterfield.
The building features, 36’ clear ceiling height, 50’ x 50’ column spacing with 60’ loading bays, parking for ± 100 automobiles and ± 27 trailers, 13 dock-high doors (9’ x 10’), 1 drive-in door (12’ x 14’), and 7” thick floors. It is equipped with an ESFR sprinkler system and LED lighting.
Premier 370 Business Park is located at Highway 370 near Interstate 70, whose tenants include Amazon, Reckitt Benckiser and Medline. According to a 4Q2025 market report by CBRE, the St. Charles County industrial market had s 3.7% total vacancy rate. That compares with a 6.5% total vacancy rate for the entire St. Louis region during the recent quarter.
