SparrowHawk and Almanac Realty Investors Acquire St. Louis Distribution Center for $28.5M

Why It Matters

The purchase deepens SparrowHawk’s presence in a high‑growth logistics corridor, positioning the JV to capture rising e‑commerce demand and deliver stable, institutional‑grade returns to investors.

Key Takeaways

• SparrowHawk acquires 366,900‑sq ft St. Louis warehouse.
• Purchase price $28.5 million for Premier 370 DC II.
• Joint venture with Almanac Realty expands Midwest footprint.
• Almanac provided $300 million growth capital in late 2025.
• Facility features 36‑ft ceilings, 60‑ft bays, ESFR sprinklers.

Pulse Analysis

The Midwest continues to attract industrial developers as e‑commerce and supply‑chain reshoring drive demand for modern distribution hubs. St. Louis, with its central rail and highway network, offers carriers rapid access to both coasts, making newly built, high‑clearance warehouses especially valuable. SparrowHawk’s acquisition of Premier 370 DC II adds a strategically located asset that meets the industry’s push for larger clear heights and advanced fire‑suppression systems, aligning with tenant expectations for efficiency and safety.

SparrowHawk’s partnership with Almanac Realty Investors reflects a broader trend of capital‑rich joint ventures scaling quickly across secondary markets. Almanac’s $300 million infusion not only finances the St. Louis deal but also underwrites recent purchases like the 764,735‑square‑foot Kansas warehouse. By pooling capital and expertise, the JV can negotiate better terms, accelerate due‑diligence, and leverage economies of scale in property management, positioning both firms as preferred landlords for national logistics operators.

For investors, the transaction signals confidence in sustained rent growth and occupancy stability within the St. Louis sub‑market. Modern features such as LED lighting and ESFR sprinkler systems enhance the building’s ESG profile, appealing to tenants with sustainability mandates. As demand for high‑spec industrial space outpaces supply, assets like Premier 370 DC II are likely to command premium yields, reinforcing the attractiveness of industrial real‑estate allocations in diversified portfolios.

Deal Summary

SparrowHawk, in partnership with Almanac Realty Investors, announced the acquisition of the 366,900‑square‑foot Premier 370 DC II distribution center in St. Peters, Missouri, for $28.5 million. The deal adds a second Midwest warehouse to SparrowHawk’s portfolio and expands its presence in the St. Louis market. The acquisition was disclosed on March 27, 2026.