PANATTONI TO CONSTRUCT 700,000-SQUARE-FOOT OFFICE/INDUSTRIAL FACILITY

EDWARDSVILLE, ILL. — Sacramento, Calif.-based Panattoni Development Co., acting as general contractor, has negotiated a build-to-suit contract with St. Louis-based World Wide Technology for a 700,000-square-foot office/industrial facility located within the 7 million-square-foot planned Lakeview Commerce Park in Edwardsville. World Wide Technology plans to use 10,000 square feet for office facilities, and 690,000 square feet for warehousing, distribution and technology purposes. Amenities at the building include 32-foot clear-height ceilings, ESFR sprinkler systems, and modern loading and trailer storage areas. The value of the property, which was leased for a 5-year term, is estimated at approximately $30 million to $31.5 million. Thomas Homco and David Zeigler of Lee & Associates’ St. Louis office represented Panattoni; Ryan Keiser and Tim Convy of CB Richard Ellis represented World Wide Technology in the transaction. The building is slated for completion in December.