ST. LOUIS, MO: (STLRealEstate.News) Massive Shopping Center – The largest retail project in Metro St. Louis since 2008 has officially been announced. GBT Realty Corp., a full-service, investment and construction agency keen on developing and completing retail market projects in upcoming bustling metropolitans, just completed the acquisition of a 28-acre site in the St. Peters, Missouri region. The site will pave way for the construction of the 270,000-square foot The Shoppes at Mid Rivers, which has become the largest retail development to sprout up in Metro St. Louis in almost 10 years. Needless to say, local residents and suburban residents alike are incredibly excited for the expanded shopping opportunities.
The Shoppes is going to cost close to $54 million to complete, and is receiving an incredibly warm and open welcome by St. Louis residents. The host city of St. Peters provided GBT with a bundle of incentives that were valued as much as $10 million, and a series of national retailers have staked a claim to space at the three-anchor power center in advance to the start of construction. The roster list is already available for viewing, and shows businesses like Academy Sports + Outdoor Burlington, Rose Dress for Less, Marshalls, Home Goods, Ultra Beauty, and the list goes on. The claimed retailers are leaving just 30,000 square feet and four outparcels to be snapped up once the project is complete.
Are the developers convinced they’ll bring in shoppers? The Shoppes will be located immediately north of Interstate 70 and facing the only regional mall in the county. It will have unparalleled frontage, access and visibility, plus over 138,000 cars that pass the site on a daily basis. The property is positioned in the “middle of it all” just at the mouth of St. Charles County’s leading retail corridor.
The overall St. Louis retail market continues to show signs of improvements, and The Shoppes is ready to capitalize from it.
Contributing Editor: Alexandra R. Fasulo