Work Begins in First LEED-Certified Business Park in Missouri

An affiliate of St. Louis developer Conrad Properties Corp. has begun renovation of the first building in the four-building first phase of Millwell Green, a new 8.8-acre, $13 million business park in Maryland Heights. According to Rob Goltermann, director of business development for Conrad, Millwell Green is the first fully LEED-Certified (Leadership in Energy and Environmental Design) business park in Missouri.

Goltermann reported that more than 75 percent of the 21,000-square-foot 218 Millwell building is already pre-leased to office services provider City Blue Technologies and to a second tenant who has requested anonymity. City Blue is relocating from 103 Weldon Parkway in Maryland Heights. Both users are scheduled to occupy their new space by year end 2008.

Three of the four buildings in Phase I were originally warehouses, with the fourth the former municipal services center/city hall for Maryland  Heights. Conrad is reducing all four buildings, which total 87,570 square feet, to their structural steel shells and then rebuilding them in accord with LEED standards.

The four single-story service/distribution buildings, all of which can accommodate a single user or multiple tenants, range upwards in size from 18,900 square feet. The buildings have clear ceiling heights of 16 to 25 feet with docks and/or drive-in door access to be provided per user specification. Space for lease is being quoted at $7.95 to $14.00/SF (triple net), depending on the percentage of office finish desired. Each building is also available for purchase, with prices ranging from $1.95 to $2.4 million.

Property tax abatement extended to Millwell Green by the City of Maryland Heights under Missouri Chapter 353 statutes gives the development a cost-saving advantage in the marketplace, says  Goltermann. "The resulting reduction in operating expenses works out to about $2 per square foot annually or savings of $20,000 per year for a 10,000-square-foot tenant," he said. The abatement will extend for a minimum of 18 to a maximum of 25 years.

"We think Millwell Green makes a sound investment case to a prospective tenant or buyer currently operating out of an antiquated facility," he added. "We are presenting new space in the Westport area supported by ample parking in a LEED-indentured development at a very competitive rate."

Phase II consists of a 3.2-acre parcel for sale to build-to-suit users. The site can accommodate a single structure of up to 53,000 square feet or up to four smaller free-standing buildings.

A walking path with educational signage detailing LEED-focused innovations will link the Millwell Green campus with the new city hall for Maryland Heights that borders it to the north. Other LEED-related innovations include the extensive use of permeable pavers in lieu of asphalt; drought resistant landscaping; and reflective, white rooftops with canopy shading.

Parking is provided for up to364 vehicles.

Joining Conrad on the project team are general contractor G.S. S, Inc.; Kansas City, Mo.-based Treanor Architects, (which operates a branch office in Kirkwood,  Mo.); civil engineer CEDC Civil Engineering; and, green building consultant E2 Solutions, Inc.

Casey Urkevich and Joseph Hill of Chesterfield, Mo.-based commercial real estate broker Block Hawley represent Millwell Green.
 

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