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The transaction involves nearly 134 acres in Republic.
Graphic courtesy Greene County Assessor's Office
The transaction involves nearly 134 acres in Republic.

Drury sells land in Republic

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Drury University has sold land in Republic that's connected to Inc.'s new fulfillment center.

Drury spokesperson Mike Brothers confirmed the sale of the property at Highway MM and Sawyer Road. Greene County assessor records show the site comprises nearly 134 acres.

"The proceeds from the sale of the property will go into Drury’s endowment," Brothers said via email, declining to disclose the sale price.

A Nov. 4 deed of trust lists a note amount of $115.4 million between Peyton Paisley MO LLC and Commerce Bank. A warranty deed also was filed yesterday between the LLC and Drury for the property.

When provided the note amount listed in the deed of trust, Brothers said it "definitely does not denote what the university received as proceeds" from the land sale.

Peyton Paisley MO LLC was registered Sept. 25 with the Missouri secretary of state. The business filing is signed by Steven Waters and lists an address in San Antonio, Texas. The address is that of the headquarters for USAA Real Estate. Waters is the company's general counsel, according to its website.

Officials with USAA could not be reached immediately for comment by deadline. The company's website lists an Amazon fulfillment center in Beaumont, California, as part of its tenant portfolio.

Amazon and the city of Republic this morning confirmed the e-commerce giant would be the tenant of a fulfillment center and distribution center being built on the land.


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