Gantry, a real estate firm, has successfully obtained a $14.7 million permanent loan for the purchase of Eastport Tech Center in Collinsville, Illinois. The industrial park consists of four buildings spanning 202,508 square feet on 14.2 acres and is strategically located near major highways such as I-55, I-255, I-64 and I-70 in the greater St. Louis MSA.
The property is fully occupied by multiple tenants with varying lease terms and was acquired by a private real estate company represented by Gantry’s Principal Joe Monteleone and Senior Associate Bonnie Monteleone from their St.Louis production office. The five-year fixed-rate loan with a 30-year amortization was provided by one of Gantry’s correspondent insurance company lenders.
According to Joe Monteleone,”Industrial properties continue to perform well in today’s market conditions making them an attractive investment option.” He also mentioned that the strong fundamentals offered by the St.Louis region were appealing to their insurance company correspondents for commercial mortgage loans allocations.
At Connect Industrial Midwest 2025 event on March 5th at Joe’s Live in Rosemont,Illinois,Gantry will be presenting Michael Brennan,the recipient of Connect CRE Lifetime Achievement Award,and Kevin Brennan from Brennan Investment Group who will participate in Keynote Interview session.The event offers an exclusive opportunity to learn about current trends and developments within industrial real estate sector.
