May 6, 2008
Written by Tanya Pittman
Procter & Gamble Leases 1.2 Million SF
Consumer Products Company Inks Big Deal with Trammell Crow in Gateway Commerce Center
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Proctor & Gamble (P&G) has leased 1.2 million square feet of distribution space at Gateway Commerce Center in Edwardsville, IL.
The consumer products giant will take occupancy of about 580,00 square feet at 3101 Westway Drive, but will have to wait until the building is expanded later this year to occupy the remainder of its space. The first phase of the property completed last year.
The 2,300-acre Gateway Commerce Center has more than 10 million square feet of distribution space. It could total 23 million square feet at full build-out.
The P&G lease is valued at more than $15 million over its term, which was not disclosed. P&G owns consumer products brands including Folgers, Tide, Pepto-Bismol, Pampers, Oral-B and Duracell.
Terry Stieve at Colliers Turley Martin Tucker represented Proctor & Gamble in the lease, while Ed Lampitt of CB Richard Ellis (now with Colliers Turley Martin Tucker) represented the landlord, Trammell Crow.
Source
Written by Tanya Pittman
Procter & Gamble Leases 1.2 Million SF
Consumer Products Company Inks Big Deal with Trammell Crow in Gateway Commerce Center
Proctor & Gamble (P&G) has leased 1.2 million square feet of distribution space at Gateway Commerce Center in Edwardsville, IL.
The consumer products giant will take occupancy of about 580,00 square feet at 3101 Westway Drive, but will have to wait until the building is expanded later this year to occupy the remainder of its space. The first phase of the property completed last year.
The 2,300-acre Gateway Commerce Center has more than 10 million square feet of distribution space. It could total 23 million square feet at full build-out.
The P&G lease is valued at more than $15 million over its term, which was not disclosed. P&G owns consumer products brands including Folgers, Tide, Pepto-Bismol, Pampers, Oral-B and Duracell.
Terry Stieve at Colliers Turley Martin Tucker represented Proctor & Gamble in the lease, while Ed Lampitt of CB Richard Ellis (now with Colliers Turley Martin Tucker) represented the landlord, Trammell Crow.
Source
