Founders Properties announced the purchase of an industrial facility located in St. Louis, MO. The acquisition marks Founders Properties’ first venture into Missouri.

“This recent acquisition expands our existing portfolio of investments located within key markets,” said Chris Courneya, Vice President of Investments and Acquisitions. “We are confident in the longevity and capability of this facility as it is located in a growing community with quality developments.” The property is situated in a convenient, logistics-friendly location – offering easy access to Lambert-St. Louis International Airport and major highways I-70 and I-170 – and in close proximity to the area’s skilled labor pool.

Totaling 537,753 square feet, the new construction Class A distribution facility is fully leased with multiple tenants and staggered lease expirations. The facility resides in NorthPark, a 550-acre diverse business park with office, retail and industrial space.