JOINT VENTURE BETWEEN PCCP AND TRISTAR PROPERTIES TO DEVELOP TWO INDUSTRIAL BUILDINGS TOTALING 2 MILLION SQUARE FEET IN EDWARDSVILLE, ILLINOIS
The Build-to-Suit Facilities Have Been Fully Leased to World Wide Technologies
San Francisco, Calif., May 14, 2018 – PCCP announced today that it has formed a joint venture with TriStar Properties for the development of two adjacent build-to-suit warehouse and distribution facilities in Edwardsville, IL, within the Metro East submarket of the greater St. Louis, MO industrial market.
Located at Gateway Commerce Center and totaling just over 2 million square feet, the facilities have been fully leased to World Wide Technologies, a technology solution provider headquartered in St. Louis, MO. To date, including the new build-to-suit facilities, PCCP and TriStar have joint ventured for the development of 7 warehouses totaling 5.1 million sf and all located within Gateway Commerce Center.
The two buildings are situated on a total of 160 acres and are each approximately 1 million square feet. They feature 36’ clear heights and ample excess car and trailer parking. World Wide Technologies, which has more than 4,600 employees and 20 distribution locations, will use the space as its primary U.S. distribution center. The company will be relocating from within the local market to the new space upon completion of construction.
Gateway Commerce Center is one of the top distribution locations within the St. Louis market as evidenced by the presence of institutional ownership and national tenants including P&G, Unilever, Amazon, and Geodis Logistics. The park is situated at the intersection of two highways (I-270/I-255), which connects with four major interstates (I-70, I-55, I-64, and I-44) and offers convenient access to the entire St. Louis metropolitan area. Gateway Commerce Center lies within 500 miles of one-third of the U.S. population and within 1,500 miles of 90 percent of the US population, thus providing an attractive central U.S. location for national and super regional distribution.