SparrowHawk, an industrial investment and management firm based in Houston, has expanded its Midwest footprint through a joint venture partnership with Almanac Realty Investors, acquiring a second regional distribution center.
The venture purchased Premier 370 DC II, a 366,900-square-foot distribution facility located on 20 acres within the Premier 370 Business Park in St. Peters, Missouri. The acquisition price was $28.5 million. The property, developed by Panattoni in 2023, adds recently built Class A industrial space to SparrowHawk and Almanac’s growing portfolio.
Premier 370 DC II offers modern bulk distribution specifications, including a 36-foot clear ceiling height and 60-foot loading bays designed to support efficient truck circulation and freight handling. Site improvements include parking capacity for more than 100 automobiles and 27 trailers, supporting trailer storage and employee or visitor parking needs on-site.
The building is equipped with an ESFR sprinkler system and LED lighting, aligning with current standards for life-safety protection and energy-efficient operation in contemporary logistics facilities. These features position the asset to meet requirements from a range of industrial and distribution users.
Jorge Cabrera, vice president of acquisitions at SparrowHawk, characterized the transaction as an opportunity to add an institutional-quality industrial asset in what he described as a dynamic St. Louis market. The acquisition continues SparrowHawk’s deployment of capital in the central U.S. industrial corridor.
The investment at Premier 370 DC II follows Almanac Realty Investors’ commitment of $300 million in growth capital to SparrowHawk in late 2025. That commitment is supporting SparrowHawk’s broader industrial aggregation strategy, including recent activity in other Midwest logistics hubs.
Separately from the St. Peters purchase, SparrowHawk also recently acquired a fully leased, 764,735-square-foot modern warehouse at 31450 W. 196th Street in Edgerton, Kansas. While distinct from the Premier 370 DC II transaction, that deal underscores the firm’s focus on large-scale distribution assets across key Midwestern distribution markets.
With the addition of Premier 370 DC II, SparrowHawk and Almanac’s partnership continues to build scale in newer-vintage industrial assets across the region, targeting properties with physical attributes and building systems suited to current logistics and distribution demand.
