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Chicago & Midwest  + Midwest  + Industrial  | 

Plymouth REIT Expands St. Louis Footprint

Plymouth Industrial REIT acquired two industrial properties in St. Louis totaling 566,408 square feet and one in Jacksonville, FL totaling 289,850 square feet for a combined $51.2 million.

Located in downtown St. Louis, Commerce Center I & II total 487,150 square feet and are 100% leased to five tenants. The buildings were acquired for $27.0 million. Located near St. Louis Lambert International Airport, the two Class B buildings at 2326 Grissom Dr. total 79,258 square feet and were acquired for $3.7 million.

8451 Western Way in Jacksonville spans 289,850 square feet and is 100% leased to five tenants. Located near Plymouth’s Centerpoint Business Park and Liberty Business Park, the property was acquired for $20.5 million.

Pendleton White, Jr., president and CIO of Plymouth, noted, “We were able to acquire these properties well below replacement cost and are confident in our ability to drive rental growth as near-term lease expirations occur.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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