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