The 154,937-square-foot spec warehouse is located in the 27-acre Soulard Business Park at Second and Barton streets in St. Louis City. Developed by The Opus Group®, it’s the first modern industrial building in the area since 2004. The building can accommodate final-mile destination warehouse and delivery, light manufacturing or general office/warehouse uses.
Pat Reilly, executive vice president of industrial leasing for JLL, said, ““This area of the city, and for that matter points further south in the city and county, are the most supply constrained in our market when it comes to modern industrial building product. It is a swath of the market with significant barriers to developing at scale, and The Opus Group has achieved that in Soulard Commerce Center. In the process, they’ve created a unique alternative for industrial occupiers who previously had to consider locations further away from their customer and employee bases.”
Soulard Commerce Center is designed for multiple tenants, with individual build-to-suit spaces starting at about 22,000 square feet. It features 32-foot clear height ceilings and 24 trailer parking stalls to suit a variety of uses, including e-commerce and urban logistics.
With easy access to Interstates 44, 55, 70 and 64, it can meet the distribution needs of modern final-mile networks, which have become ever more important with the explosive growth of e-commerce.
“The recent boom in e-commerce has created an increased demand for modern industrial space,” said Ryan Carlie, director of real estate development, at Opus. “Soulard Commerce Center provides tenants a diverse space that can accommodate a variety of needs within a convenient and desirable location.”
The building benefits from 25-year real estate tax abatement. Base rent for the building is $6.50 per square foot.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail and institutional projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter and @theopusgroup on Instagram.