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Gateway Tradeport in Pontoon Beach, Illinois (Handout)
PONTOON BEACH — IMC Outdoor Living, which produces rubber mulch and other products, is expanding to a new warehouse in the Metro East.
The Maryland Heights-based company inked a deal for nearly 326,000 square feet of space to house and distribute its products at Gateway Tradeport, a 600-acre industrial park in Pontoon Beach. IMC, a division of Pittsburgh-based Liberty Tire Recycling, will keep its facility in Godfrey, according to a release.
IMC’s new lease comes as demand for industrial space in the region is soaring. In the second quarter of the year, industrial occupancy expanded by more than 2 million square feet — a 300% increase over expansion in the first quarter of the year, according to the latest data from commercial real estate firm CBRE.
IMC wanted more than 300,000 square feet, and options were limited.
“This was a difficult assignment with the constraints of the current industrial market,” said Steve Stradal, a broker with commercial real estate firm Avison Young. Stradal and colleague George Convy, plus Tom Schenk of The White Co. represented IMC in its lease.
JLL represented the owner, Kansas City-based NorthPoint Development.
Construction on Gateway Tradeport started last year. So far, two buildings have been built and leased, and a third is being built. The development will have 11 buildings once construction finishes.
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Steph Kukuljan covers real estate and development for the St. Louis Post-Dispatch. She is a St. Louis native.
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Gateway Tradeport in Pontoon Beach, Illinois (Handout)
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