A joint venture led by developer TriStar Properties has sold a 176-acre, 2 million square foot build-to-suit campus it completed in 2019 for tenant World Wide Technology (WWT). The facility is located within TriStar’s Gateway Commerce Center, a 2,300-acre regional logistics and bulk distribution park in Madison County, Ill.
Financial terms were not disclosed. The institutional buyer wishes to remain anonymous.
The campus consists of two equally sized high-cube tilt-up concrete buildings with 36-foot clear-height ceilings. One is devoted to the production and assembly of WWT technology equipment; the other to product storage and distribution. Parking is provided for nearly 2,000 vehicles.
Since its founding in 1996, TriStar, operating primarily through joint ventures or partnerships, has sold or developed institutional quality real estate valued at more than $1.1 billion. It has developed more than 5,000 acres of industrial, commercial and residential land plus more than 15 million square feet of commercial space. For more, visit tristarproperties.com.