ST. LOUIS, MO – Cassidy Turley, a leading commercial real estate provider in the U.S., announced today that Boston-based Great Point Investors has purchased the Gateway Portfolio. The two buildings, 7 and 29 Gateway Commerce Center Drive in Edwardsville, Ill., total 780,000 square feet, and are located in the St. Louis Metro East Industrial submarket.
TMT Properties, Inc., Edwardsville, Ill., 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.
“Cassidy Turley was glad to be part of this sale transaction,” said Mr. Hilton. “The state-of-the-art Gateway Industrial Portfolio is located in a highly desirable, modern industrial park in the St. Louis metro area and is leased by strong credit tenants.”
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% occupied.
The buildings are situated on the I-270/I-255 interbelt, which offers convenient access to the St. Louis metropolitan area and connects with four major interstates: I-70, I-55, I-64 and I-44.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project andservices and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets.