28 Gateway Commerce Heart
Transwestern Funding Group has offered 28 Gateway Commerce Heart, a 500,000-square-foot industrial asset in Edwardsville, Unwell., The customer was Miesto Ventures LLC, in keeping with Madison County public information.
Transwestern bought the property in 2017 from Hyperlink Logistics, marking the primary acquisition by its Transwestern Strategic Companions Fund II. The corporate paid $30 million for the property, which was a part of a 2.5 million-square-foot portfolio deal, CommercialEdge knowledge reveals.
Situated at 28 Gateway Commerce Heart Drive W. and in-built 2005, the one-story, cross-dock warehouse options ESFR sprinklers and 200 parking spots, the identical knowledge supplier reveals. Located on a 25.3-acre lot, the property is near Interstates 255 and 270, 16 miles from St. Louis and inside 20 miles of St. Louis Lambert Worldwide Airport.
Eastdil Secured’s staff led by Director Caitlin Clinton and Funding Banker Josh McArtor labored on behalf of Transwestern. On the time of the sale, the property was absolutely occupied by Walgreens.
In October, TIG’s Transwestern Strategic Companions Fund III closed with $325 million value of commitments, marking the corporate’s largest fundraise. Earlier this 12 months, the corporate introduced the launch of Transwestern Ventures, an opportunistic funding platform that may deal with actual property investments in numerous sectors throughout the U.S. In 2021, TIG offered a 10-building industrial portfolio within the Midwest, totaling 2.9 million sq. ft, by TSP Worth and Revenue Fund II. All buildings are positioned in high-demand industrial markets, resembling St. Louis, Columbus or Indianapolis.
