Sealy & Co. renews 1.6M SF lease with World Wide Technology in Edwardsville

Sealy & Co. has secured a lease renewal for two buildings with World Wide Technology (WWT) at Lakeview Commerce Center II and III in Edwardsville, Ill., covering in excess of 1.6 million SF. WWT, the company’s largest tenant, has maintained a long-term relationship with Sealy.

Lakeview Commerce Center II, located at 3971 Lakeview Corporate Dr., comprises 539,877 SF and includes a variety of enhancements. The facility, which was delivered in 2006, features 29,900 SF of office and laboratory space, T5 specialty lighting, and generators for emergency backup.

Lakeview Commerce Center III, a distribution center located next door, encompasses the bulk of the square footage with 1,109,830 SF. Originally completed in 2008, it was expanded in 2015 to add more office space, custom trailer stalls, and enhanced security measures. This building also recently earned the BOMA 360 designation for its high standards in energy efficiency, safety, security, and tenant relations.

Both properties are ideally located in the Metro East industrial submarket of St. Louis, just west of Hwy. 111, with direct access to I-270 and downtown St. Louis only 20 miles down the road.

Negotiations for the renewal were led by Sealy’s Regional Director William Shagets, with support from Cushman & Wakefield’s Ed Lampitt and Matt Eastin.

The St. Louis industrial market continues to see strong leasing activity through the third quarter of 2024 with a vacancy rate of 4.7%, according to a CBRE report (St. Louis Industrial Figures Q3 2024). Leasing activity surpassed 1.2 million SF, up 24% from the previous quarter. While the Metro East submarket had the second-highest vacancy rate in the area just under 10%, it led the region in leasing activity with 414,000 SF for the quarter.

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Header image: Lakeview Commerce Center puchased by Sealy & Co. in 2020 is located just 20 miles from downtown St. Louis in Edwardsville, Ill. Image courtesy of St. Louis Regional Freightway

Elite Printing & Packaging moves to Hazelwood TradePort

Elite Printing & Packaging is making plans to relocate to Hazelwood TradePort, a new construction space being built by Brinkmann Constructors at 1601 TradePort Dr. in Hazelwood, Mo.

The move will be an upgrade for the one-stop packaging solutions provider, who is currently located in Wentzville, Mo. The NorthPoint Development warehouse will not only be larger at 124,952-SF, but also more centrally-located —two criteria the owners are in need of.

Timothy C. Convy, CPM and Brian G. Kelley with Avison Young | St. Louis exclusively represented the tenant, Elite Printing & Packaging.

“They made one of the most important decisions in our companies history go smoothly from start to finish. We are very appreciative of Tim and Brian from Avison Young for their guidance, ethics and integrity. We would highly recommend them for all of your companies commercial needs," said Elite Printing & Packaging president, Michael Sloan.

Elite Printing and Packaging has over forty years combined experience in the printing and packaging industry, with an emphasis on the sports nutrition/beauty, pet and health industries.

“We are pleased to provide Elite Printing & Packaging a fantastic solution for their real estate needs. Even with the challenges presented in the St. Louis market, we were able to come to favorable terms with NorthPoint Development to create a dynamic opportunity for our client," said Kelley.

About Avison Young: Avison Young is headquartered in Toronto, Canada and comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multifamily and hospitality sectors.