Clark Properties Alton Center Business Park Marcus & Millichap is pleased to present the opportunity to acquire the Alton Center Business Park, located at 1410 to 1450 Discovery Parkway in Alton, Illinois. The subject property consists of approximately 450,400 square feet of industrial space and is situated on approximately 134 acres of land. The multi-tenant asset is anchored by Imperial Manufacturing & IMG USA, Inc. Featured highlights include two buildings with a total of five suites, a clear height ranging from 23’ to 25’, 22 dock-high doors, five grade-level doors, and three-phase power with 800 to 1,200 amps in each suite. With a building coverage ratio of just 8 percent, the property maintains an ample amount of industrial outdoor storage space. The property sits adjacent to two separate rail lines serviced by Union Pacific and Norfolk Southern, the latter of which runs along the property line with an inactive rail spur, giving the property direct access to the nation’s third-largest rail hub. Additionally, the property sits at the foot of the Clark Bridge (U.S. Route 67) that connects Illinois and Missouri over the Mississippi River.
With 126,545 square feet of available space (making up 28.1 percent of the property), the Alton Center Business Park offers investors a value-add lease-up opportunity. Since this property includes heavy tenant improvements that allow for specialized manufacturing and shipping activities, the anchoring tenant is relatively less sensitive to rent increases. Given the inflationary environment, rising industrial vacancy rates, and slowing rent growth, owning specialized assets that give landlords more pricing power over rents is growing in importance. Occupying 71.9 percent of the property, Imperial Manufacturing Group is signed to a triple net lease that runs through June 2032 at $3.39 per square foot with above-market 3.0 percent annual escalations and two five-year renewal options. Founded in 1979, Imperial Manufacturing Group is a world-class manufacturer of air distribution and building products for North American HVAC and construction companies.
In addition to the benefits of owning a specialized asset in today’s economy, this sale offers national investors the opportunity to claim a stake in a market whose fundamentals outperform most of the top markets across the nation. At 4.2 percent, the industrial vacancy rate in Saint Louis sat 340 basis points lower than the national average during the second quarter of 2025. Tighter availability has allowed Saint Louis to also sustain a higher level of annual rent growth at 4.2 percent, more than doubling the national average of 2.0 percent. As the second quarter came to a close, there were 4.1 million square feet of industrial space under construction in Saint Louis, representing just 1.2 percent of the existing inventory. The construction of Boeing’s 1.1 million-square-foot manufacturing facility exemplifies the industrial benefits that Saint Louis maintains (CoStar, national average based on top 50 metros, classes A, B, & C, minimum 10,000 square feet).
The Saint Louis metro is near the geographic center of the United States, within 500 miles of one-third of the U.S. population. About 2.8 million people call the metro area home, with Saint Louis hosting over 319,000 residents. Located at the confluence of the Mississippi and Missouri rivers, the metro area encompasses counties in both Missouri and Illinois. The economy of Saint Louis is anchored by the logistics industry, with trade, transportation, and utilities accounting for the largest share of employment. In addition to the Gateway Arch, which continues to serve as a major tourist attraction, Saint Louis is also highlighted by one of the nation’s most prominent urban parks. Covering 1,326 acres, encompassing the Saint Louis Zoo, Art Museum, History Museum, and Science Center, Forest Park measures larger than New York’s famed Central Park. Saint Louis is also the host of two major professional sports teams, the Saint Louis Cardinals of Major League Baseball and the Saint Louis Blues of the National Hockey League (Marucs & Millichap, Wikipedia).
BROKER OF RECORD
STEVEN WEINSTOCK
Illinois Broker of Record
One Mid America Plaza, Suite 200
Oakbrook Terrace, IL 60181
Steven.Weinstock@MarcusMillichap.com
License #: 471.011175
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0370361)
