Officials said the timing couldn’t be better for the development, as industrial vacancy in St. Louis is 4% overall and 1.2% for the St. Charles County submarket.
WENTZVILLE, Mo. — A Houston-based real estate company is entering the St. Louis market for the first time by developing a warehouse in St. Charles County.
Vault Partners opened a 75,000 square foot flexible industrial warehouse in Wentzville on March 10. Construction of the project, called Corporate Parkway Business Center, is expected to be completed in the fourth quarter of this year.
Located at Corporate Parkway and Crosswinds Drive near the junction of Interstate 70 and Interstate 64, warehouse development costs were not disclosed. The building will have a clear height of 24 feet and a tilting concrete construction with unique architectural offsets and lighting accents. It was designed by St. Louis-based Dial Architects.
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It is a speculative development and can accommodate sizes ranging from full building up to 5,000 square feet. Brokers Joe Schneider and Keith Schneider of Cushman & Wakefield lease the property.
Keith Schneider said the timing couldn’t be better for development, as industrial vacancy in St. Louis is 4% overall and 1.2% for the St. Charles County submarket, according to a statement. Press.
“With strong demand expected for the foreseeable future, we expect increased tenant interest in a number of sectors,” Schneider said.
Garrett Thompson, managing director and co-founder of Vault Partners, said the warehouse’s location near two major freeways “will be attractive to future tenants.”
Read the full article on the St. Louis Business Journal website.
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