Developer TriStar Properties is advancing a 176-acre build-to-suit campus for tenant World Wide Technology at Gateway Commerce Center in the St. Louis market.
Gateway Commerce Center is a 2,300-acre logistics and bulk distribution park near Edwardsville, Illinois.
The completion value of the project, which is to yield two equally sized buildings totaling 2.025 million square feet plus parking for nearly 2,000 vehicles, is $115 million.
Privately held and St. Louis-based World Wide Technology is an international technology provider with $10.4 billion in annual revenue and 4,600-plus employees in more than 70 offices. Its lease at Gateway is believed to be the largest industrial property transaction ever executed in the metro St. Louis market.
The company will devote one building to the production and assembly of technology equipment, the other to product storage and distribution. They are to be completed in April of 2019 and August of 2019 respectively.
General contractor Contegra Construction of Edwardsville, Illinois, is building the structures with tilt-up concrete panels. The facility will have 36-foot clear-height ceilings plus dock doors and truck courts.
PCCP, LLC, a real estate finance and investment management firm based in Los Angeles, is partnering with TriStar on equity financing.
In addition to World Wide Technology, Gateway tenants include Amazon, Dial Corp., GENCO ATC, GEODIS, The Hershey Company, Ozburn-Hessey Logistics, Proctor & Gamble, Save-A-Lot, Saddle Creek Logistics Services, DB Schenker, Schneider National, Unilever, USF Logistics, Walgreens and Yazaki of North America.