September 07, 2021
St. Louis – Transwestern Investment Group (TIG®) announces the sale of 22 Gateway Commerce Center Drive, a 155,700-square-foot industrial building in Edwardsville, Illinois, on behalf of its discretionary investment fund, TSP Value and Income Fund II. The property was 57% leased at the time of sale to New York/New Jersey-based Moxie Equities.
“The disposition of this well-located asset allowed TIG to maximize pricing by appealing to buyers interested in industrial value-add opportunities,” said Ryan Grable, Vice President at TIG. “Moxie Equities was able to acquire one of the few shallow-bay warehouses of its kind in St. Louis’ Metro East submarket below replacement cost.”
Built in 2007, the property is located within Gateway Commerce Center, a premier institutional distribution park that offers convenient access to four modes of transportation: road, rail, water and air. Among its four existing tenants, the weighted average lease term is 4.4 years, and the weighted average in-place tenure is 7.5 years.
St. Louis is an increasingly important e-commerce market experiencing an industrial vacancy rate below the national average, positive net absorption, year-over-year rent growth and risk-adjusted returns. The acquisition of 22 Gateway Commerce Center Drive enhances Moxie Equities’ growing value-add portfolio.
“Continued rent growth and historically attractive debt markets positioned 22 Gateway as a timely, alternative investment during a period where core, bulk yields continue to compress,” added Grable.
JLL’s Sean Devaney and Ed Halaburt represented TIG in the transaction.
Photography is available for download here.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $6.3 billion of assets managed since inception. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.
Media Contact:
Nataly Torres
713.270.3334
nataly.torres@transwestern.com
twmediarelations@transwestern.com