ST. LOUIS—Developer GBT Realty Corp. recently acquired the largest retail development site in the St. Louis metro area since 2008 and is ready to build. Located in suburban St. Peters, MO, the property, dubbed The Shoppes at Mid Rivers, has already attracted national household tenants such as Academy Sports + Outdoor – only the third in the St. Louis area. Brentwood, TN-based GBT finalized its acquisition of the property on October 25.

The 270,000-square-foot power center will rise on 28 acres that sits adjacent to I-70. The interest shown in a parcel of this size by both investors and retailers is a sign that the suburban market has really taken off.

“This property has been looked at by a lot of people in the past,” and due to the affluent population and quick access to major transportation arteries, “it is one of the strongest submarkets in the St. Louis area,” Jeff Pape, managing director, shopping center division, GBT Realty, told GlobeSt.com. And retailers have certainly made it clear they are ready to occupy the space. “It's no mistake we chose this market for one of our largest projects in the past decade.”

In addition to Academy Sports + Outdoor; Burlington, Ross Dress for Less, Marshalls, Home Goods, Ulta Beauty, Famous Footwear and Carter's OshKosh B'gosh have agreed to open their doors at the shopping center. An additional 30,000 square feet and four outparcels remain available. GBT plans to begin construction immediately with a targeted completion date of late 2017.

“Immediately north of I-70 and facing the only regional mall in the county, the center will have unparalleled frontage, access and visibility to the more than 138,000 cars passing the site on a daily basis,” added Pape.

As reported in Globe St.com, GBT recently completed and leased up three developments in the Louisville region with a total of 610,000 square feet. It also plans to build a $35 million regional shopping center in Jeffersonville, IN, a suburb of Louisville.

The City of St. Peters was very involved with the new project and approved an incentive package worth up to $10 million, as well as supported the rezoning of the property, according to Pape. The incentive package, rezoning and site plan were approved on June 23.

Instant Insights /

St. Louis Metro Set for Largest Retail Project Since 2008

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