Thyssenkrupp Supply Chain Services now occupies every square foot of a massive Edwardsville, Illinois warehouse after locking in a lease renewal and expansion that hands the company full control of the 769,000-square-foot building. The deal covers Lakeview V at 3919 Lakeview Corporate Drive, a facility the logistics company first moved into less than two years ago.
According to REJournals, Colliers completed the industrial lease transaction on thyssenkrupp's behalf, combining a three-year renewal of roughly 600,000 square feet with a 169,500-square-foot expansion. Together, those two pieces push the company's footprint to the full size of the building, according to the outlet. Peter J. Kepic and Peter E. Kepic of Colliers | Detroit led the transaction, with referral support from Dan Bamberger, Dan Lesinski and Billy Spence of Colliers | St. Louis, per the same report.
Thyssenkrupp first moved into part of the property in late 2024, after the former FedEx warehouse there closed, the outlet notes. The St. Louis Business Journal reported that thyssenkrupp now controls the entire 769,000-square-foot facility under the new three-year lease, cementing a steady buildup in occupancy at the site. LoopNet listings put the building's available space at 769,500 square feet rather than the 769,000-square-foot figure cited in the current transaction reporting.
A Building With a FedEx Past
Lakeview V wasn't always a thyssenkrupp address. The property previously housed FedEx Supply Chain, which closed up shop there before thyssenkrupp's initial 2024 move-in, according to the REJournals report on the latest deal. An earlier transaction, also reported by REJournals, had Avison Young closing a 769,500-square-foot lease for FedEx Supply Chain at the same building, a deal that at the time was said to push FedEx's total footprint in the area past 2 million square feet.
Metro East's Hot Quarter
The thyssenkrupp deal lands amid a surge in industrial leasing across the region. St. Louis-area industrial leasing activity hit 2.87 million square feet in the third quarter of 2026, the strongest quarter of the year, the Colliers market report cited by REJournals shows. The Metro East submarket, the Illinois side of the St. Louis metro area, captured more than 35% of that activity, the largest share of any submarket, the report notes.
Metro East's overall vacancy rate slid from 11.7% to 11.2% during the third quarter, while vacancy specifically in warehouse and distribution space fell from 12.6% to 11.9% over the same stretch, per the Colliers data referenced by REJournals. The submarket also posted more than 1.05 million square feet of positive net absorption during the quarter. Metro East carries roughly 41.5 million square feet of tracked industrial inventory overall, including more than 36.4 million square feet earmarked for warehouse and distribution use, according to the same report.
Broader Market Momentum
The regional strength tracks with a national trend. U.S. industrial market fundamentals kept improving in the third quarter of 2026, with demand accelerating, new supply moderating and vacancy declining, according to Colliers research. Net absorption nationally reached its strongest quarterly total since 2022 and outpaced new supply for a second consecutive quarter, the firm's data shows.
Metro East's Speculative Construction
The submarket has also drawn major speculative construction in recent years: Contegra Construction finished a 625,000-square-foot warehouse at Gateway Tradeport in Pontoon Beach that became available for lease in September 2021, and a fourth warehouse at the same park, expected to top 1 million square feet, was slated to become the largest speculative industrial facility ever built in the St. Louis region when it was completed in the third quarter of 2022, according to the St. Louis Regional Freightway.
