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Build to Suit
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| Client: | Mirage Products |
| Project: | 40,000 SF Build-to Suit |
| Challenge: | St. Charles Commercial Real Estate Broker: Mike Statter, CCIM
Submarket: St. Peters, MO
Gross Building Area: 40,000 SF
Building Type: Office/Warehouse
Transaction Date: March 2005
As a distributor of non-food merchandise to truck stops and convenience stores, Mirage Products had experienced solid sales growth for several years leading up to 2004. So much that the company had become cramped in their 11,000 square foot facility located at the intersection of I-70 and Highway 79. And there was no excess acreage to add on to the building which is also owned by the owner of Mirage Products, Pat Viets.
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| Solution: | Consulting with Mike Statter, CCIM, Mr. Viets looked at several options that would enable his business to expand and stay current with his customer’s needs. After extensive evaluation of the projected financial impact of all the options, Mirage decided to become a partner in a new 40,000 square foot office/warehouse building and occupy half of it.
The new building, constructed in Arrowhead Business Center, was started in August 2004 and completed in February 2005. Mr. Statter was instrumental in the planning and execution of many facets of the assignment including the selection of a contractor and management of the project. Because of his experience in working with users of industrial space, Statter included many building attributes into the project that provide appeal to a wide cross section of users. Statter also listed the 11,000 square foot building and had it leased before the new building was completed, ensuring the continuity of cash fl ow to his client. |
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Build to Suit
Owner Representation
Cassidy Turley
1551 Wall Street
Suite 200
St. Charles, MO 63303
Phone: 636-949-9797
Fax: 636-949-8955
Keith Schneider, CCIM, SIOR
keith.schneider@cassidyturley.com
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Mike Statter, CCIM, SIOR
mike.statter@cassidyturley.com
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Ben Cahill
ben.cahill@cassidyturley.com
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Cassidy Turley
