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Edwardsville

Ground Breaking on New Mixed-Use Community In Edwardsville

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A groundbreaking ceremony was held this week at the site of Whispering Heights, a new $34 million mixed-use community, located off Highway 157 in the heart of Edwardsville, Illinois.

Holland Construction Services is working with Edwardsville developer Fireside Financial on the project.  When completed Whispering Heights will be the tallest building in Edwardsville.  The community will feature two six-story buildings with a total of 153 luxury apartments and 18,000 square feet of retail and restaurant space.

Residents of Whispering Heights will enjoy a state-of-the-art fitness center, private entrances, private parking garage, business center, and a roof top “amenity deck” with grilling stations, fire pits, an enclosed kitchenette, and bar area.  The luxury apartment units will range from studios to 2-bedroom suites of up to 1,100 square feet and feature stainless steel appliances, granite countertops, and high-end finishes throughout.

“Fireside Financial is proud to bring Whispering Heights, a mixed-use community, to the City of Edwardsville,” noted Brian Tempest, Vice President of Hearth Construction Management, the owner’s representative for the project.

Gray Design Group out of St. Louis and Edwardsville is the architect on the new complex.  Work is scheduled to be complete in Fall of 2019.

Holland Construction Services is a full-service construction management, general contracting, and design/build firm based in Swansea, Ill., guided by the principle of providing our clients the best possible building experience on every project. For more information, visit Holland’s website at www.hollandcs.com.

Edwardsville Construction Tops $122 Million With 2 Months Remaining

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By KERRY SMITH, EDITOR, ST. LOUIS CONSTRUCTION NEWS AND REVIEW MAGAZINE 

With 60 days left on the calendar, the City of Edwardsville can already say 2018 has been a record-breaking year with regard to commercial and residential construction dollars being pumped into the Metro East community.

Year-to-date figures for the first 10 months of 2018 indicate that construction projects breaking ground in Edwardsville thus far this year total a whopping $122.6 million, a 19.2 percent increase over all of 2017.

“We have another two months to go, and we’re anticipating another $15 million of construction projects coming through in additional permits,” said Walter Williams, director of economic and community development for the city. “This is our best year yet in terms of the number of construction dollars being invested in our community.”

Edwardsville-based Contegra Construction and Highland-based Plocher Construction are leading the way in new commercial construction projects this year, according to Williams.

New Poag Richland Residential Project

Among Contegra’s 2018 projects are the New Poag Richland Residential Project, a $20 million, 9-building, 486-bed housing community on a 15-acre site very near Southern Illinois University Edwardsville, and Timberlake Village, a $3.2 million retail center along Illinois Route 157 that features Kyoto Japanese Steakhouse.

Plocher Construction’s 2018 work in Edwardsville includes Edwardsville Town Center, a mixed-use development spanning 26 acres at Route 157 and Governors’ Parkway, directly across from SIUE. The $35 million, 75,000-square-foot-plus project will also feature residential apartments with multiple outlots for future tenants.

Williams said that in all of 2017, new construction dollars permitted by the City of Edwardsville totaled $102.8 million.

Contegra Construction Completes $3.2 Million Timberlake Village Retail Center in Edwardsville, Ill.

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The newest shopping enclave to serve Edwardsville, Ill. is open with the completion of the $3.2 million Timberlake Village Retail Center.  Developed by Kamadulski Crays Fischer, LLC and built by Contegra Construction Co., the 10,000-square-foot Timberlake Village is introducing the first Kyoto Japanese Steakhouse to Edwardsville as the anchor tenant.    An additional 3,000 square feet of tenant space is available for lease.

Located at 441 South State Route 157, Timberlake Village will serve a growing corridor of development along Route 157 near Southern Illinois University-Edwardsville.  That includes new apartments, hotels and office.

The retail center is built with a conventional structural steel frame and contemporary masonry façade.  It is ornamented with storefront and metal panel siding.  The 1.5-acre site is fully landscaped and offers 70 parking spaces.

Based in Edwardsville, Ill., Contegra is one of the St. Louis area’s largest general contractors and serves a national customer base that includes industrial, institutional, municipal, medical, multi-family, office and retail projects.  Its capabilities include building developer- and owner-driven projects and site development.  Learn more at www.contegracc.com.

O’Fallon, MO, Edwardsville Experiencing Parallel Construction Investment

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By Kerry Smith, Editor – St. Louis Construction News & Review Magazine

Although their populations are markedly different, O’Fallon, MO and Edwardsville, IL are benefitting from similar new construction developments and are governed by municipalities with similar visions and priorities.

Patrick McKeehan, O’Fallon’s economic development director, says the city of 87,800 population has experienced solid growth in 2017 and early 2018. For example, True Manufacturing is building a 200,000-square-foot distribution center on the north side of Interstate 70 that is expected to reach completion within the next few weeks.

“Summit Development Group is the developer and Contegra Construction Co. is the general contractor,” said McKeehan. “True Manufacturing is consolidating space from some smaller off-site warehouses to generate greater efficiencies on its campus in terms of production, finished goods and shipping.”

A $13 million I-70 outer road project is expanding capacity along O’Fallon’s primary transportation corridor to improve traffic flow and encourage new commercial activity, according to McKeehan. “Bids just opened on this critical transportation project,” he said, “which also involves MoDOT and St. Charles County. I-70 was originally built in the late 1950s. O’Fallon’s exponential growth has increased demand on the road system.”

By the end of June, the first phase of a $25 million sports destination project known as Missouri Rush Sports Park will be completed. Cornerstone Contracting Services is the general contractor and 40DD Sports is the developer. McKeehan says the initial phase includes four all-weather soccer fields and a clubhouse with restaurant. The sports complex is strategically located at Highway DD and I-64.

With a population of roughly one-third that of O’Fallon, MO, Edwardsville is enjoying a similar resurgence in commercial development across multiple sectors. Walter Williams, Edwardsville’s director of economic/community development, says World Wide Technology’s latest announcement that it is breaking ground on twin Gateway Commerce Center warehouses – each spanning one million square feet – is tangible evidence of serious investment in what Edwardsville has to offer companies. The builder has not yet been announced.

“Edwardsville’s continued success is attributable to our ability to attract investors and job creators,” said Williams.

Both McKeehan and Williams see parallels in the types of development that the two cities are attracting. O’Fallon, MO and Edwardsville are enjoying bustling hospitality development, sports destination development and warehouse-distribution investment. Like O’Fallon, the $12 million, 70-acre Plummer Family Sports Park near I-55, named for Edwardsville builder/developer Robert L. Plummer, is in the development stage.

Just as Edwardsville is known for high-tech manufacturing and distribution with its two advanced logistics parks, O’Fallon, MO is home to a large financial services cluster anchored by CitiMortgage and MasterCard’s global operations and technology center. According to McKeehan, O’Fallon has more than 6,000 employees in the industry sector.

“There are many commonalities between Edwardsville, IL and O’Fallon, MO, including highway access, strong geographic position, affordable housing, family oriented amenities, and with forward-thinking local government,” McKeehan said. “I think these commonalities all contribute to economic success.”

McKeehan emphasizes that the plusses inherent in the two municipalities that are attracting local, regional and national investment these days can also be found in other neighboring cities within the St. Louis MSA.

“St. Peters, MO has similar qualities as Edwardsville and O’Fallon,” said McKeehan, noting that the neighboring community was Amazon’s choice to build a 1,500-employee, 800,000-square-foot fulfillment center in the Premier 370 Business Park. This new operation is similar to the one in Edwardsville and is Amazon’s first fulfillment center in Missouri.

O’Fallon-Shiloh, IL is another investment-friendly community, according to McKeehan.

“I see O’Fallon-Shiloh in a similar position of strength,” he said. “All of these communities are centered on key transportation corridors that enable each to attract large commercial and industrial development.”

TriStar Properties & World Wide Technology Team on Gateway Commerce Center in Edwardsville, Ill.

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Two New Buildings to Total 2.025 Million SF in Largest Industrial Lease Transaction in St. Louis History

Developer TriStar Properties and tenant World Wide Technology (WWT) have announced plans to team on the creation of a 176-acre campus valued at more than $115 million at Gateway Commerce Center, a nationally prominent 2,300-acre logistics and bulk distribution park located outside Edwardsville, Ill.

Founded in 1990, privately held WWT is an international technology solution provider with $10.4 billion in annual revenue and more than 4,600 employees. With headquarters in St. Louis, the minority business enterprise (MBE) operates more than 70 offices worldwide.

The lease calls for TriStar to develop two equally sized buildings totaling 2.025 million square feet, supported by parking for nearly 2,000 vehicles. It is believed that the WWT lease is the largest industrial property transaction executed in the history of metro St. Louis.

The deal, inked March 9, 2018, represents the culmination of a seven-month competition involving many of the top commercial developers in the St. Louis market said Bobby Klucker, director of development for TriStar. “What tipped the scales in our favor was our ability to provide a campus environment that is expandable by 1.4 million square feet and that has direct access to an interstate highway interchange. There was also a high level of confidence in the ability of TriStar and its construction partners and vendors to complete the one-million-plus square foot buildings on an extremely aggressive construction schedule.”

Work will begin later this month on WWT’s first building, a Technology Center devoted to the production and assembly of technology equipment. It is to be completed in April 2019. A Logistics Center, for product storage and distribution, is to be completed in August 2019.

Both buildings will be formed from tilt-up concrete panels and have 36-foot clear-height ceilings plus dock doors and truck courts.

Long-time partner, PCCP, LLC, a national real estate finance and investment management concern based in Los Angeles, Calif., is teaming with TriStar on the WWT project. The buildings will be the sixth and seventh joint-ventured by the duo.

Michael Towerman, co-founder and president of TriStar, noted that “with 18 bulk buildings containing nearly 13 million square feet under roof, we continue to be pro-active in producing distribution space that anticipates the need of major consumer goods companies for efficient, expandable bulk space configurations.”

Currently offered at the development is newly completed Gateway East 594, a 593,940-square-foot cross-docked facility with 36’ clear-height ceilings, 570 feet of depth, 66 dock doors and two drive-in doors. Standing on a 54-acre site, it is expandable to roughly 1 million square feet.

In addition to WWT, Gateway tenants include AmazonDial Corp., GENCO ATC, GEODIS, The Hershey CompanyOzburn-Hessey LogisticsProctor & GambleSave-A-LotSaddle Creek Logistics Services, DB Schenker, Schneider NationalUnileverUSF Logistics,Walgreens and Yazaki of North America.

Founded in 1996, TriStar Properties is a nationally recognized real estate developer. Typically operating 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.

PCCP, LLC is a real estate finance and investment management company that focuses on commercial real estate debt and equity investments. With offices in New York, San Francisco and Los Angeles, it has approximately $6 billion in assets under management on behalf of institutional investors.

Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $10 billion of institutional capital through private equity funds, separate accounts and joint ventures. Learn more about PCCP at www.pccpllc.com.

TriStar Properties Sells Two New Distribution Centers Totaling 1.14 Million Square Feet for $64 Million At Gateway Commerce Center in Edwardsville, Ill.

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Developer TriStar Properties has sold two mega-cube distribution centers completed earlier this year at Gateway Commerce Center to L&B Realty Advisors of Dallas, Texas. The buildings total 1.14 million square feet and occupy a combined 99 acres of land. Each is 100% leased to an international third-party logistics firm, GEODIS and DB Schenker. The sales price was $64 million.

Bobby Klucker, director of development for TriStar, said PCCP, LLC, a national real estate finance and investment management concern, teamed with TriStar to develop the buildings at Gateway, a nationally prominent 2,300-acre logistics and bulk distribution park located outside Edwardsville, Ill.

The sale is the largest industrial property transaction in the metro St. Louis market in 2017 stated Ed Lampitt, SIOR, CCIM, and managing director of the St. Louis office of Cushman Wakefield, the leasing agent for Gateway.

New Spec Distribution Center Coming January 2018

Klucker added that his company and PCCP are currently targeting January, 2018 for the completion of a new $26 million speculative distribution center at Gateway. Called Gateway East 594, the 593,940-square-foot cross-docked facility has 36’ clear-height ceilings, 570 feet of depth, 66 dock doors and two drive-in doors.  Expandable to roughly 1,000,000 square feet, it is being built on a 54-acre site and represents the fifth distribution facility jointly developed by TriStar and PCCP at Gateway.

“With 18 bulk buildings containing nearly 13 million square feet under roof, Gateway’s development team continues to adhere to a proactive philosophy that anticipates the need of major consumer goods companies for efficient, expandable bulk space configurations,” said Lampitt.

In addition to GEODIS and DB Schenker, Gateway tenants include Amazon, Dial Corp., GENCO ATC, The Hershey Company, Ozburn-Hessey Logistics, Proctor & Gamble, Save-A-Lot, Saddle Creek Logistics Services, Schneider National, Unilever, USF Logistics, Walgreens and Yazaki of North America.

Founded in 1996, TriStar Properties is a nationally recognized real estate developer. 

PCCP, LLC is a real estate finance and investment management company that focuses on commercial real estate debt and equity investments.

 

TriStar Begins $26 Million, 593,940SF Spec Warehouse at Gateway Commerce Center, Edwardsville, Ill.

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Project Emerging on 54-Acre Site

TriStar Properties has begun speculative development of a new 593,940-square-foot mega-cube distribution center at Gateway Commerce Center, a 2,300-acre logistics and bulk distribution park outside Edwardsville, Ill. Teaming with TriStar to fund the $26 million venture is PCCP, LLC a national real estate finance and investment management company.

The new building, Gateway East 594, is a tilt-up concrete cross-docked facility with 36’ clear-height ceilings, 570 feet of depth and 66 dock doors plus two drive-in doors. Taking shape on a 54-acre site, the building is expandable to approximately 1,000,000 square feet.

The 594 building will be available for occupancy in January, 2018 according to Ed Lampitt, SIOR, CCIM and managing director of the St. Louis office of Cushman Wakefield, the exclusive leasing agent for Gateway.

“Gateway Commerce Center is widely acknowledged as one of the leading distribution parks in the Midwest. With 18 bulk buildings containing nearly 13 million square feet under roof, Gateway’s development team is demonstrating its proactive approach in anticipating the needs of expansion-minded companies for efficient, expandable bulk space configurations,” noted Lampitt.

TRiSTAR-PCCP Joint Venture

Gateway East 594 will be the fifth distribution facility jointly developed by TriStar and PCCP at Gateway.  The partners recently completed two previously launched buildings totaling 1,144,000 square feet, all of which has been leased. Another recent endeavor, a $36 million, 717,060-square-foot distribution center on a 56-acre site, is now occupied by retail giant Amazon.

In addition to Amazon, Gateway tenants include Dial Corp., GENCO ATC, GEODIS, The Hershey Company, Ozburn-Hessey Logistics, Proctor & Gamble, Save-A-Lot, Saddle Creek Logistics Services, D.B. Schenker Logistics, DB Schenker, Schneider National, Unilever, USF Logistics, Walgreens and Yazaki of North America.

Joining TriStar on the 594 project are Contegra Construction, general contractor; Gray Design Group, architect; and Stock & Associates Consulting Engineers, Inc.; civil engineer.

Founded in 1996, TriStar Properties is a nationally recognized real estate developer. Typically operating 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.

PCCP, LLC is a real estate finance and investment management company that focuses on commercial real estate debt and equity investments. With offices in New York, San Francisco and Los Angeles, it has approximately $6 billion in assets under management on behalf of institutional investors.

Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $10 billion of institutional capital through private equity funds, separate accounts and joint ventures. Learn more about PCCP at www.pccpllc.com (http://www.pccpllc.com) .

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