THF Realty Doubling Center to 768,000 SF

The property, at the intersection of I-70 and Highway 40/61 in the west suburbs of St. Louis, already has the Wal-Mart, Kohl's and smaller retailers such as Panera Bread and Auto Zone. This fall, THF will open a 127,000-sf Target, a 139,000-sf Lowe's Home Improvement Warehouse, a 70,000-sf expansion of the Wal-Mart to create a supercenter and a 30,000-sf Best Buy. Other stores opening on the site include Starbuck's, FedEx Kinkos and Ruby Tuesday's.

Brian Deutsch, leasing manager of the property for THF says the current property is about 98.5% leased, with only 6,400 sf of space available. The incoming property is about 75% leased, he tells GlobeSt.com. "There's a couple more outlots where we have the opportunity to build, he says. As for lease rates, "We've got outlots where we're asking for $30 a foot, then there's inline stuff that can be done in the upper teens," Deutsch says. "The stuff in front of the Target and Lowe's is going to be the most sought after."

He says the area is a great growth spot for St. Charles, Warren and Lincoln counties, the three fastest growing counties in the state. "The trade area can't be overlooked. There's growth in money and people," Deutsch says.

From 2000 to 2005, according to the US Census, St. Charles County added 55,000 people, and both Warren and Lincoln grew by more than 17 percent each. "Our proximity to St. Louis serves those who crave a taste of both rural and urban living," said Bob Swank, director of the community's economic development department, in a press statement. "Target adds a major retailer…and presents us with the opportunity for scores of part- and full-time jobs."