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Three Warehouses to be Developed in St. Louis Under Qualified Opportunity Zone

Three Warehouses to be Developed in St. Louis Under Qualified Opportunity Zone 

EJF Capital LLC and Green Street Real Estate Ventures are partnering to develop three warehouse buildings with approximately 454,000 sf in St. Louis, MO, the two announced..

The Project is in an area certified as a “Qualified Opportunity Zone” under the Tax Cuts and Jobs Act of 2017, TCJA. The TCJA offers investors potential attractive tax benefits to invest into Qualified Opportunity Zones to create economic growth in lower income areas.

To be developed in the River City Business Park, the project is located within the Patch neighborhood in southeast St. Louis. The Project’s first building will deliver in the second quarter of 2023, the two anticipate, while the remaining two buildings are slated to deliver later the same year. 

The buildings will span 153,715 sf; 198,948 sf and 101,035 sf each for a total of 453,698 sf. Each will be able to accommodate a single or multi-tenant configuration. All three buildings are being designed by HAD and will be constructed by Green Street Building Group, affiliates of Green Street.

“The Project offers an abundance of advantages that EJF and our partner Green Street see benefitting light industrial, manufacturing, and logistics companies, both domestically and internationally,” said EJF Co-Founder and Co-Chief Executive Officer Neal Wilson, adding that the developments are ideally located in the center of the country.

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Neal Wilson Green Street Real Estate Ventures

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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