Page Walton
Distribution Center

The Page Walton Distribution Center is Westmount’s first acquisition in the St. Louis market. It is a 129,523-square-foot office warehouse building located in the Mid County submarket, a highly desirable infill location with high barriers to entry and low historic vacancy. At the time of acquisition in mid-2023, the property was 100% leased to three tenants with a WALT (weighted average lease term) of 4.41 years.

The Mid County submarket is the geographic center of the St. Louis Metro, offering users direct access to three interstate highways (I-170, I-64, and I-270), St. Louis Lambert International Airport, and a large portion of the labor pool. Several of St Louis’s most affluent neighborhoods including Clayton, Town and Country, and Ladue are easily accessible from the asset’s location. Industrial development in Mid County is highly limited due to land constraints and zoning, resulting in tight supply and consistently high occupancy.

The asset itself was constructed in 1969 on a 7.27-acre lot. There are 242 parking spaces on the property (1.86 : 1000SF), 17 dock doors, 1 drive-in door, 24’ clear heights, and an overall office finish of 21%. The two sections of the roof were replaced in 2016 and 2019. Westmount acquired the asset at a significant discount to replacement costs in mid-2023.