7/1/2008

Panattoni arranges contract with World Wide Technology

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Panattoni Development Company has negotiated a built-to-suit contract with World Wide Technology for the 700,000 square foot Lakeview Commerce Center Building in Edwardsville, Ill.

Although the amount of the contract was not disclosed, industry experts believe the property is valued at approximately $30 million based on other recent investment sales in the area.

Along with the commerce center, which is scheduled to be completed in December 2008, Panattoni's five-year lease will include four other structures for a total of 2.3 million square feet of space.

Thomas R. Homco and David M. Zeigler of Lee and Associates' St. Louis office represented Panattoni, a Sacramento, Calif.-based private real estate company that leases, owns and manages industrial, office and retail projects.

World Wide Technology was represented by CB Richard Ellis' Ryan Keiser and Tim Convy.

Address: 3965 Lakeview Corporate Dr., Edwardsville, Ill.

Size: 700,000 square feet

Built: 2008

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Filed Under: Industrial

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