GBT Realty to Develop 53,000 SF Retail Center Near St. Louis
O’FALLON, ILL. — GBT Realty Corp. will develop Shoppes at Richland Creek, a 53,000-square-foot retail center in O’Fallon, an eastern suburb of St. Louis. In March, GBT purchased the 17-acre site from Vantage Credit Union for an undisclosed price. Shoppes at Richland Creek is approximately 70 percent pre-leased to tenants such as Smoothie King, Chicken Salad Chick, Pacific Dental, Five Guys Burgers + Fries, Taco Bell, Burger King, Popeyes and Tidal Wave Luxury Car Wash. Completion is slated for summer 2021.
“The area’s growing population and solid workforce, combined with the city’s willingness to assist us in the development process, made this site — and this community — the ideal place for GBT’s next shopping center,” says Jeff Pape, managing director with GBT. O’Fallon has experienced significant growth over the past two decades with nearly 2,000 new homes and over $400 million in residential and commercial development, according to GBT. Tennessee-based GBT currently has more than $1 billion of commercial development totaling 5 million square feet in the pipeline or under construction.