28 Gateway Commerce Heart
Transwestern Funding Group has bought 28 Gateway Commerce Heart, a 500,000-square-foot industrial asset in Edwardsville, Sick., The client was Miesto Ventures LLC, in line with Madison County public data.
Transwestern bought the property in 2017 from Hyperlink Logistics, marking the primary acquisition via 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 information reveals.
Positioned at 28 Gateway Commerce Heart Drive W. and inbuilt 2005, the one-story, cross-dock warehouse options ESFR sprinklers and 200 parking spots, the identical information 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 crew 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 price 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 can deal with actual property investments in varied sectors throughout the U.S. In 2021, TIG bought a 10-building industrial portfolio within the Midwest, totaling 2.9 million sq. toes, via TSP Worth and Earnings Fund II. All buildings are situated in high-demand industrial markets, comparable to St. Louis, Columbus or Indianapolis.
