28 Gateway Commerce Center
Transwestern Investment Group has sold 28 Gateway Commerce Center, a 500,000-square-foot industrial asset in Edwardsville, Ill., The buyer was Miesto Ventures LLC, according to Madison County public records.
Transwestern purchased the property in 2017 from Link Logistics, marking the first acquisition through its Transwestern Strategic Partners Fund II. The company paid $30 million for the property, which was part of a 2.5 million-square-foot portfolio deal, CommercialEdge data shows.
Located at 28 Gateway Commerce Center Drive W. and built in 2005, the one-story, cross-dock warehouse features ESFR sprinklers and 200 parking spots, the same data provider shows. Situated on a 25.3-acre lot, the property is close to Interstates 255 and 270, 16 miles from St. Louis and within 20 miles of St. Louis Lambert International Airport.
Eastdil Secured’s team led by Director Caitlin Clinton and Investment Banker Josh McArtor worked on behalf of Transwestern. At the time of the sale, the property was fully occupied by Walgreens.
In October, TIG’s Transwestern Strategic Partners Fund III closed with $325 million worth of commitments, marking the company’s largest fundraise. Earlier this year, the company announced the launch of Transwestern Ventures, an opportunistic investment platform that will handle real estate investments in various sectors across the U.S. In 2021, TIG sold a 10-building industrial portfolio in the Midwest, totaling 2.9 million square feet, through TSP Value and Income Fund II. All buildings are located in high-demand industrial markets, such as St. Louis, Columbus or Indianapolis.
