REIT buys St. Louis-area warehouse for $21M

A New Jersey-based real estate investment trust named Chambers Street Properties has acquired a 502,000-square-foot warehouse just east of downtown St. Louis for $21.1 million.

The Class A warehouse in Sauget, Ill., which is next to the St. Louis Downtown Airport, is 100 percent leased to two tenants, according to the St. Louis Post-Dispatch.

Chambers Street also could pursue options to buy two adjacent parcels of land that would allow an expansion of the facility by up to 450,000 square feet.

Read more from the St. Louis Post-Dispatch.