CBRE Tapped to Lease Part of $1.2B St. Louis Mixed-Use District
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CBRE has been selected by the team behind Gateway South, the $1.2 billion mixed-use development in St. Louis, to be the exclusive brokerage to lease up to 500,000 square feet of Class A office space. That space is part of the first phase of the project taking shape at the former Crunden Martin industrial site.
Tom Ray, a CBRE first vice president based in the firm’s St. Louis office, will spearhead leasing on behalf of the developers—Good Developments Group, Vault Partners and Millstone Co.
READ ALSO: Why Mixed-Use Developments Are All About the Right Synergies
The 100-acre master-planned project is officially known as the Gateway South Advanced Building Collaboration District. Its $200 million first phase will involve the repurposing of the former Crunden Martin industrial buildings at 760 S. Second St. The adaptive reuse project will feature commercial space, office and advanced manufacturing.
The overall Gateway South development will have more than 1.5 million square feet of light manufacturing facilities. It is expected to take at least 10 years to build out and create thousands of jobs.
The development team intends to break ground at the Crunden Martin site in the third quarter of this year and complete the first phase by the second quarter of 2026, according to the St. Louis Business Journal. Bob Millstone, a St. Louis developer who recently joined the project’s team, told the business journal they plan to meet a June 30 deadline set by the City of St. Louis to secure financing.
More Gateway South details
The site will be repurposed to include food and beverage retail, prototyping spaces, production facilities, flex and office space catering to construction-centered tenants. Tenants like distilleries, roasteries and bakeries could be among the concepts to locate there as part of the F&B offerings.
The redevelopment site is located near downtown St. Louis, directly south of the 91-acre Gateway Arch National Park and along the Mississippi River. It has direct access to river, rail and road transportation and is minutes from interstates 55, 64 and 44. The property is also close to Anheuser Busch Stadium and Ballpark Village, a sports-themed district by the stadium with restaurants, bars and nightlife venues.
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