ST. LOUIS-Vanguard Plastics, one of the world's leading manufacturers of plastic bags and industrial film, has consolidated regional distribution operations by leasing 152,800 square feet of distribution space at Union Seventy Center Business Park in north St. Louis. Clark Properties is the developer of the 173-acre business park located at Union Blvd. and Interstate 70.
Founded in St. Louis in 1983, Vanguard operates a production facility at 1780 Beltway Drive in Overland, Mo., where it employs approximately 120 people. The Overland plant is one of eight that the company operates in the U.S., where it produces approximately 17 billion plastic sacks annually.
The company's principal products include grocery bags, merchandise bags, industrial film and roll bags. Leading clients include retail giants Wal-Mart, K-Mart and Target Stores and major grocers such as Publix and Winn Dixie.
According to Tom Byrne, a general manager with Vanguard: "We felt that we struck a good long-term deal at Union Seventy, which gives us much better space than what we had at the three scattered warehouses we had been renting" he said. "Our main floor space at Union Seventy allows us to simultaneously stage outbound loads and accept inbound material delivery. Our space on the second floor is highly economical for storage. We were attracted to Union Seventy because of its desirable interstate highway access and its ability to accommodate our peak seasonal demand, which culminates over the holidays" he continued.
"The configuration of Union Seventy Center lends itself to flexible use. Our tenants tell us that the adaptability of our space and our standing as the low-cost provider of high-quality space are two real strengths of the development" said Wayne Weidemann, Clark vice president. "We capitalize on that flexibility by partnering with tenants."
Currently, 350,000 square feet of space (including upper floors) is available for lease at Union Seventy, which contains a potential 2.2 million square feet of bulk distribution/ manufacturing/fabricating space. Of that total, 1.6 million square feet has been renovated. In addition, 10 acres of developed land are available for sale.
Distribution/warehouse space is offered at $1.98/SF to $3.30/SF including taxes, insurance and common area maintenance. Land is quoted from $2.50/SF. The largest remaining site covers 3.6 acres. The business park is in a Missouri state enterprise zone and qualifies for 25-year real estate tax abatement from the City of St. Louis.
Clark Properties also has 84,408 square feet available at another development in St. Louis City, Riverview Industrial Center, where it is quoting a lease rate of $2.35/SF on a modified gross basis. In addition, it has 120,000SF of bulk distribution space available at 131 Byassee offered at $3.50/SF on a modified gross basis.
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