GBT goes big in St. Louis

When the 300,000-sq.-ft. Shoppes at Mid Rivers opens in late 2017 the project will be the largest retail development the St. Louis area has seen in nearly a decade.



GBT Realty Corporation, a national commercial development company headquartered in Brentwood, Tennessee, said the $54 million project located in St. Peters, Missouri, will have three anchor tenants, five to seven junior anchors, small shop space and four, approximately one-acre outparcels.



“The City of St. Peters has been a great partner to us in this process,” said Jeff Pape, managing director, shopping center division, GBT Realty. “Along with delivering a quality retail center, GBT is proud to have a hand in generating roughly $3.5 million in annual local tax revenue and more than 1,200 local jobs between construction, full and part time employment by bringing nationally applauded retailers to this community.”



GBT is finalizing rezoning and site plan applications and is set to go before the city’s planning and zoning commission on June 1. The company also said it is in negotiations with household names in soft goods retail and service providers to bring additional amenities to the market. The firm expects to announce the initial tenant line-up later this year.



“The Shoppes at Mid Rivers will be located at the center of St. Charles County and the heart of its dominant retail corridor,” Pape said. “Immediately north of and facing the only regional mall in the county, the center will have unparalleled frontage, visibility and access.”



Demolition of existing building on the property is slated to begin immediately upon acquisition of the site later this year. Former occupant ABC Supply Co. relocated to O’Fallon earlier this year while Wm. Noble & Co.’s John Deere Dealership is currently open but will be relocating once GBT acquires the property.



With the addition of The Shoppes at Mid Rivers, GBT currently has more than $1 billion of retail development totaling five million square feet under construction or in the pipeline in 28 markets throughout the United States.