North City-based Eagle Specialty Products acquired the 467,000-square-foot industrial warehouse complex on 26 acres at 1 Lincoln Way in Berkeley for $1.35 million in a pre-auction bid. Cushman & Wakefield brokers Keith and Joe Schneider represented Eagle Specialty Products in the sale. Sansone Group’s Jake Corrigan represented the seller, The Welfont Group.
SKF will begin to move out in December of 2018, and Eagle Specialty Products and its subsidiary, Giani, Inc. will move into the space in the summer of 2019. Eagle and Giani’s current operation spans 3 buildings in North St. Louis City, 2 of its 3 current locations, 2216 N. Broadway and 2222 N 2nd St., will be sold at a later date.
Led by owner and President Floyd Thomas III, and Vice President, Jack Wisor, Eagle Specialty Products, originally founded in 1959 and formerly known as Thomas & English, has grown to become a leading national manufacturer and distributor of raw materials for the paint and coatings industry. Giani, Inc., founded in 2005, is a manufacturer of specialty DIY paint kits for consumers.
According to Mr. Thomas, this move will greatly improve our efficiencies and allow for unlimited future growth.