Closing Announcement: 1601-1609 Eastport Plaza Drive

Bamboo Equity Partners Acquires Eastport Tech Center, Expands Industrial Portfolio in Strategic Illinois Market

Collinsville, IL — Bamboo Equity Partners is pleased to announce its acquisition of Eastport Tech Center, a premier office and warehouse complex located at 1601-1609 Eastport Plaza Drive in Collinsville, IL. The acquisition, finalized on October 31st, adds a valuable 202,508-square-foot industrial asset to Bamboo’s growing portfolio, situated on 14.2 acres in the thriving Metro East industrial submarket.

Eastport Tech Center features four best-in-class industrial buildings with direct access to major highways, including I-55, I-255, I-64, and I-70, making it highly desirable for businesses requiring functional office and warehouse space. With Illinois’s industrial sector showing record-breaking absorption and rising construction activity, Eastport Tech Center stands out as a stable, high-value investment at a time when construction costs continue to rise. The replacement cost for comparable properties is estimated at more than $175 per square foot, underscoring the value in Bamboo’s acquisition.

"Acquiring Eastport Tech Center aligns with our investment strategy of targeting high-quality assets with strong market fundamentals," said Dan Dokovic, Managing Principal and Founder of Bamboo Equity Partners. “This property’s excellent condition, prime location, and full occupancy at acquisition make it a valuable addition to our portfolio and an ideal asset for future growth.”

The property’s tenant roster consists of 14 businesses across various industries, providing a 100% occupancy rate with a weighted average lease term (WALT) of 3.5 years. The staggered lease expirations ensure steady income for investors while allowing Bamboo to capture future rental growth as leases are renewed amid limited local industrial supply. Notably, 30% of the tenancy expires between 2024 and 2025, enabling Bamboo to capitalize on rising market rates through lease renewals.
The Eastport Tech Center provides flexible, high-functioning space options, featuring dock-high doors, ramps, and 20-foot clear heights, designed to meet the needs of diverse office/warehouse users. The property’s prime location offers exceptional connectivity, located just 27 minutes from Lambert International Airport and 14 minutes from Downtown St. Louis, providing convenient access to St. Louis’s most prominent industrial hubs.

As part of Bamboo Equity Partners’ commitment to value-add opportunities, the firm will continue optimizing Eastport’s leasing potential, leveraging market trends favoring annual rental increases above 3%. This acquisition demonstrates Bamboo’s ongoing focus on maximizing returns for investors through market-aligned, strategic acquisitions.