(St. Louis, MO – May 1, 2016) The St. Louis office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, announces that it has begun construction of Premier 370 1000, a new, modern 300,000-square-foot warehouse in Premier 370 Business Park, its industrial development located west of St. Louis off I-370 in St. Peters, MO. The building, which is being built on a speculative basis, has a planned delivery date of September 2017 and is available for lease.
“Interest in Premier 370 the past 18 months has been strong with companies signing long-term leases for build-to-suit warehouses and inquiring about available space for lease,” said Matt Hrubes, Vice President of Duke Realty’s St. Louis operations. “Based on this interest and the momentum created from two recent build-to-suit warehouses by major companies, we elected to develop a speculative warehouse so that we can meet the needs of clients who are unable to wait for a build-to-suit facility. We look forward to being able to offer move-in ready, first-class space to clients in just a few months.”
Premier 370 1000 is the third Duke Realty-developed building in Premier 370 Business Park, following a 714,780-square-foot, build-to-suit warehouse for Reckitt Benckiser which was delivered in 2016 and a 252,000-square-foot, build-to-suit warehouse for Best Buy that will be complete in July 2017. Two other parcels have been sold to outside parties and have been developed.
Premier 370 1000 will be a cross-dock building with 32′ clear height, 50′ x 54′ interior bays, 60′ x 54′ dock bays, 30 – 9′ x 10′ dock doors with levelers, bumpers and seals and two 12′ x 14′ drive-in doors. Outside of the building are a 185′ deep truck court on the west side of the building with 50 trailer parking spaces, a 135′ truck court on the east side of the building, and abundant automobile parking, including 209 spaces in the current site plan with the capacity for 76 additional future spaces. Other features include LED high-bay lighting fixtures, an ESFR sprinkler system, and 2,000-amp electrical service.
Premier 370 1000 also offers real estate and personal property Chapter 100 tax abatement opportunities to qualifying companies.
“Premier 370 is ideal for companies looking to enhance their distribution capabilities because of its location at the nexus of the nation’s north/south and east/west interstate system, providing superior access to I-70, I-55, I-44 and I-64. Plus the development park is in close proximity to St. Louis, Lambert-St. Louis International Airport and port terminals along the Mississippi River,” said Hrubes. “We have parcels in Premier 370 that can accommodate new buildings ranging in size from 150,000 square feet up to 1 million square feet and larger. Plus Duke Realty is poised to work in any capacity a potential customer needs.”
In total, Premier 370 Business Park can support up to four million square feet of new development on approximately 243 acres, with build-to-suit or prelease opportunities available through Duke Realty, as well as land sales to third-party purchasers. Parties interested in leasing space in Premier 370 1000, other new development or land purchases are invited to contact Mr. Hrubes at 314.514.6800 or firstname.lastname@example.org
About Duke Realty
In the St. Louis metro area, Duke Realty owns and manages nearly 4.2 million square feet of industrial properties. Its office is located at 520 Maryville Centre Drive, Suite 200, St. Louis, MO 63141.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 142 million rentable square feet of bulk distribution and medical office real estate in 21 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.