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The $1.2 billion Gateway South development has named the broker who will work to lease up to 500,000 square feet of planned Class A office space focused on tenants in the construction industry.
The $1.2 billion Gateway South development has named the broker who will work to lease up to 500,000 square feet of planned Class A office space focused on tenants in the construction industry.
Commercial real estate firm CBRE and broker Tom Ray will market the space for lease on behalf of the landlord and developer, St. Louis-based Good Developments Group, the firm said in a news release. The project entails leasing a "wide variety" of tenant uses in the $200 million first phase of the 100-acre master-planned development, including up to 500,000 square feet of Class A office space, along with flex, retail, research and development, a CBRE spokesperson said.
Developers backing the project are seeking to create a new mixed-use, sustainable neighborhood in a historically underutilized industrial area south of the Gateway Arch, is formally called the Gateway South Advanced Building Collaboration District. The project's $200 million first phase is scheduled to break ground in the third quarter this year and wrap construction on the first phase in the second quarter of 2026, the brokerage said.
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The development team, consisting of GDG, Houston-based Vault Partners and Millstone Co., has said it will meet a June 30 deadline from the city of St. Louis to secure financing for the project's first phase, and a key goal of the next phase is to secure leases from potential tenants, said St. Louis developer Bob Millstone, who joined the development team earlier this year.
See the latest renderings of the Gateway South project in the gallery below:
A rail spur currently inside a six-building complex of the Crunden-Martin former factory buildings would be opened to the air as part of the Gateway South project. The onetime rail spur is currently bricked in on both sides with a temporary roof installed.
The first phase will rehabilitate the historic Crunden-Martin industrial manufacturing complex at 760 S. Second St. into work space focused around the construction industry. Plans call for prototyping and office space, food and beverage retail and production facilities and other enhancements that will cater to construction-centered tenants, CBRE said.
The Crunden-Martin buildings are the “nucleus” of Gateway South, “uniting startups, established building industry leaders and other companies working in the built environment industry under one roof,” said Greg Gleicher, founder and CEO of Good Developments Group.
“The building was designed to foster collaboration and includes amenities tailored for the construction and real estate industries creating an environment that adds value to all of the businesses it will be home to,” Gleicher said in a statement. “We are excited about the innovative leasing solutions that CBRE provides.”
In all, the project will create more than 1.5 million square feet of light manufacturing facilities, CBRE said.
Brokers from CBRE's St. Louis office, Matt Bukhshtaber and Will Mura, recognized the potential in the site around 2017 and began the process of contacting owners and assembling the properties into a block of sites for sale.
