JLL, a global commercial real estate services firm, has been chosen to manage five St. Louis-area industrial developments totaling nearly 1.5 million square feet valued at approximately $61 million.
SparrowHawk Real Estate Strategists, a Houston-based company, currently uses JLL to manage its 502,500-square-foot cross-docked warehouse/distribution center at 1659 Sauget Business Boulevard in Sauget, Ill. The company recently moved the remainder of its industrial portfolio to JLL for management.
“My experience working with JLL has been nothing but positive,” said Gutierrez. “Their brokers helped us find and purchase these industrial properties, so they’re familiar with our assets and understand our needs from a management perspective. We have a lot invested in St. Louis and we want to make certain our properties and tenants are well maintained, and we’re confident JLL can do that.”
SparrowHawk’s St. Louis portfolio being managed by JLL includes:
- 1619 Park 370 Court, Hazelwood, Mo., a 213,558-square-foot cross-docked development;
- 4847 Park 370 Blvd., Hazelwood, an 84,500-square-foot Class A warehouse building;
- 800 Jefferson St., Pacific, Mo., 204,361-square-foot warehouse building;
- 1250-1280 Interstate Drive, Wentzville, Mo., a 420,000-square-foot Class A, rail-served distribution center.
Gutierrez plans to double SparrowHawk’s holdings in the next two years, with deal sizes ranging from 200,000 to 500,000 square feet. “(St. Louis) sits nicely, it has all the infrastructure to be a phenomenal market, a market that can attract even further growth,” Gutierrez says. “Another significant advantage is its workforce, with access to employees with advanced education.”
The SparrowHawk properties bring JLL’s total commercial property management in the St. Louis market to 14.7 million square feet, said Henry Voges, property management leader for JLL.
“We’re excited to grow our relationship with Alfredo,” said Voges. “His company has a significant investment in St. Louis and we intend to keep these properties running smoothly so that he can focus on matters important to growing his business.”