Duke Realty Fully Leases St. Louis Industrial Park
- Jan 07, 2020
Distribution Management Inc. has signed a 375,200-square-foot, long-term lease with Duke Realty Corp. at Premier 370 Business Park, a 375-acre master-planned development in St. Peters. The imaging supplies distributor will occupy the entire Class A warehouse at 1001 Premier Parkway. The lease brings the 2.5 million-square-foot collection of five buildings that Duke Realty developed within the industrial campus to full occupancy.
Bordered by Highway 370, the business park is well connected to all parts of the St. Charles County through Interstates 70 and 270, as well as a Norfolk Southern railway. In addition to the five buildings developed by Duke Realty, two other parcels have been sold to outside parties and developed, while another 80 acres are still available for development. Premier 370 Business Park has a build-out potential of more than 6 million square feet of industrial space. Notable tenants include Reckitt Benckiser and Best Buy. The campus is also home to Amazon’s first robotics fulfillment center in Missouri.
Premier 370 1001 sits on more than 24 acres roughly 28 miles northwest of downtown St. Louis, accessible via Interstate 70. The 2018-built facility features 36-foot maximum clear height, four grade-level and 40 dock-high doors, as well as 40 trailer parking spaces, per Yardi Matrix data.
Newmark Knight Frank’s Art Leichner and Andrew Crites, together with Kevin McLaughlin and Dan Lesinski of Newmark Grubb Zimmer, represented Distribution Management in the lease. Colliers’ Geoff Orf was the listing agent for the property.
In August, another one of Duke’s industrial parks reached full occupancy. A Cushman & Wakefield team assisted the landlord in securing a new tenant at the 802,284-square-foot campus in Lockport, Ill.