Walls should be tilted into place this month at one of the largest leased properties in the market.
Contegra Construction is building one of the largest construction projects in the St. Louis area – the $115 million build-to-suit campus for World Wide Technology at Gateway Commerce Center in Edwardsville.
Developed by TriStar Properties, the 176-acre campus will host two buildings totaling 2.025 million square feet plus parking for nearly 2,000 vehicles.
The construction is clearly in view along Illinois 255, which divides the park east and west.
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 worldwide. Its lease at Gateway is believed to be the largest industrial property transaction ever executed in the metro St. Louis market.
World Wide 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 2019 and August 2019 respectively.
Contegra is based in Edwardville. It will erect the first tilt-up concrete panels for the massive buildings in August. Both buildings will feature a thermoplastic polyolefin (TPO) roof and 36-foot clear height ceilings. The warehouse/distribution center will feature 90 dock doors, with cross docking capabilities. The tech center will feature 30 dock doors.
PCCP, LLC, a real estate finance and investment management firm based in Los Angeles, is partnering with TriStar on equity financing.
In addition to WWT, 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.
Gateway Commerce Center is a 2,300-acre logistics and bulk distribution park located in Edwardsville and Pontoon Beach and largely developed by TriStar Properties, which was founded in 1996. TriStar typically operates through affiliated joint ventures or partnerships. Its activity log includes sale or development transactions involving more than 5,000 acres of commercial and residential land; apartment complexes; 1.5 million square feet of office space; 1.2 million square feet of retail space; and several million square feet of industrial/distribution space.