Developed
Square Feet Developed
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SOME OF OUR CLIENTS
About Our Firm
For decades, TriStar has moved seamlessly between asset classes, identifying economic and demographic trends as well as changes in consumer preferences. We’ve employed a blend of vision and quantitative analysis, while working with best-in-class architects, engineers and contractors. Along the way, we’ve always put our investors’ needs first, making sure they are fully informed, and doing everything we can to achieve optimal outcomes for all stakeholders.
TriStar got its start in 1996 with two large scale land developments, Gateway Commerce Center and Park 370, which led us to the forefront of big box warehouses. In 1999, we were at the leading edge of high-density office space, building tilt-up three- and four-story buildings with open floor plans and large parking ratios. Then, we built multifamily projects in irreplaceable locations. Today, our primary focus is on the development, redevelopment, and acquisition of industrial and multifamily assets.
We have collaborated and built enduring relationships with institutional and local investors, tenants, communities, contractors, and our valued professionals (many of whom have done our work for decades). Together, we function collaboratively, delivering quickly and effectively, while never deviating from our disciplined investment strategy.
Leadership
Michael Towerman
Co-Founder and Principal
Michael began his career in 1983 as a real estate attorney and entered the real estate development field in 1988. Since then, he has been responsible for development of over a billion dollars of property in multiple asset classes, including the development of Gateway Commerce Center (one of the largest industrial parks in the United States), apartment complexes, office parks, shopping centers and residential subdivision land.
Prior to co-founding TriStar in 1996, Michael was Vice President of a nationally recognized shopping center development company. Michael has a Bachelor of Science degree in Business Administration from the University of Missouri and a Juris Doctorate from Washington University School of Law in St. Louis.
Rod Thomas
Co-Founder and Principal
Rod has been a real estate investor and developer for over thirty years. Rod was one of the founders and is currently a Principal of TriStar, which is one of the nation’s pre-eminent property acquisition and development firms, with experience in a broad array of asset classes.
Prior to his involvement with real estate, Rod established a residential construction company that was sold to a national firm in 1999.
Mitch Wexler
CFO and Principal
Mitch is a CPA, MBA with over 30 years of experience in management and finance. His experience includes positions with international giants Anheuser-Busch Companies, Inc. and Nestle USA, as well as an eight-year stint as Chief Financial Officer of a local chemical distributor. Mitch is primarily responsible for all accounting, tax, administrative, information technology, and human resource functions for TriStar.
Matt Towerman
Executive Vice President and Principal
Matt joined TriStar in 2020 with over 10 years of experience in real estate private equity, most recently at Angelo Gordon. Prior to Angelo Gordon, he worked in the Real Estate Principal Investment Area at Goldman Sachs. In those roles, Matt was involved in all aspects of the deal lifecycle, from acquisition and financing through asset management and disposition. Over the course of his career, he has worked on institutional grade properties across the United States spanning all major real estate asset classes.
Matt obtained an M.B.A. with Honors from The Wharton School at the University of Pennsylvania where he majored in real estate. He received his B.S. in Commerce with Distinction from the McIntire School of Commerce at the University of Virginia, with concentrations in finance and management, as well as a minor in urban and environmental planning.
Roman Keselman
Director of Development
Roman holds a Bachelor of Economics, and minors in business and political science from the University of Missouri-Columbia as well as a MBA from the Olin School of Business at Washington University, where he was also inducted into the Honor’s Society.
Thomas Douglass
Director of Development
Thomas “TD” Douglass, Director of Development, joined TriStar in 2018. His career includes over 20 years of experience in all aspects of design and construction related to real estate development. Thomas manages projects based on the design criteria and construction costs developed over years of previous working experience including historic rehabilitations, adaptive re-use, custom single-family homes, historic additions, multifamily homes, mixed use, tenant improvement, and master planned communities.
Christopher Hudgens
Dir. of Marketing & Technology
Christopher has worked in the marketing & operations side of business for 20+ years, seeing success in multiple industry sectors in cities from Chicago, Detroit, London, New York & St. Louis with companies from Disney, Sotheby’s Auctions, Home Depot & many others including 10 years in commercial development. Graduating with an MBA Certificate from Quantic & a BFA from Southern Illinois University; Christopher is responsible for all Marketing, Design & Informational Technology for TriStar.
Gene Manis
Controller
Gene became an accredited Certified Public Accountant after earning a Bachelor of Science with an emphasis in Accounting from the University of Missouri, St. Louis. His career includes 30+ years of experience in public & private accounting within the fields of auditing, tax planning and preparation, business consulting, financial reporting, human resources, and risk management. As the lead controller for TriStar he handles the accounting for development projects implementing strategic tax planning, tax incentive financing, historical cost credits, cost segregation, and cost allocation methods.
Strategy
We strive to be leaders in real estate, with a primary focus on industrial and multifamily — two asset classes that perform well during all four phases of the economic cycle. We pursue ground-up development opportunities as well as existing assets that have redevelopment potential or the ability to add density. A summary of our deal criteria is below.
01
Industrial
Regional Distribution
- Large tracts of land (200 acres or more that can be assembled) identified by local community leaders for a public-private partnership
- Pro-growth community that desires a partner with a proven track record of large-scale job generating land development
- Located on major trucking corridors with a substantial labor pool within a 30-minute drive time of a major metropolitan area
- Substantial barriers to entry (barrier may be an economic incentive package that provides TriStar and the community a major competitive advantage)
Last Mile
- Metropolitan area with a population of 1,000,000 or more
- 10-30 acres
- Close to circumferential highway
- Near highway interchange (within 1.5 miles)
- Will demolish obsolete structures and remediate environmental contamination if necessary
02
Multifamily
Suburban Apartments
- Sites zoned or that can be zoned for 120 – 240 units (willing to undertake extensive zoning efforts for an exceptional location)
- Densities of 15-40 units per acre
- High level of walkability (by suburban standards) to amenities such as parks, shops, restaurants or medical facilities
- Sites may include retail buildings that can be demolished and combined with shop space and other uses to create mixed-use environments
- Good highway accessibility (no more than a 25-minute drive to major employment center) near grocers (within a 10-minute drive) and quality school districts
Case Studies
Of TriStar’s more than 50 ground-up projects, the following are just a representative sample.
Industrial
717,250 SF
TriStar developed this 717,250 SF Class A distribution center located in Gateway Commerce Center, Edwardsville, IL. The building is 100% leased to Amazon and includes 32,000 sf office build-out, full climate-controlled warehouse with energy management system, LED high bay motion-controlled fixtures throughout, 36’ clear height, and 1,084 car parking locations.
2,026,326 SF
TriStar developed this 2,025,920 SF campus for World Wide Technology. The project includes a 1,013,172 square foot global technology center and a companion 1,013,154 square foot logistics center. Besides serving as owner and developer of the project, TriStar acted as the construction manager for interior buildout that included a data center, lab, extensive
high-tech office areas, and warehouse space for inbound components and outbound finished product.
Multifamily
Early to bring midrise infill apartments to St. Louis, TriStar spent five years obtaining entitlements for one of the best locations in the St. Louis MSA. There, TriStar built a 254-unit Class A project known as “Alinea” on the site of a former quarry. The location was irreplaceable, representing the first apartment complex constructed in the submarket in nearly 20 years.
Alinea is nestled in the heart of millions of square feet of office space, across from a regional mall, and within walking distance of a multi-screen theater, in one of the highest income areas of St. Louis. The luxury community features a grand two-story clubhouse, resort style infinity edge pool, large fitness and business centers, spa, expansive first floor patios, and covered parking.
Not afraid of challenges, TriStar built its first garden-style suburban apartment complex in a difficult to develop location. The project – a 204-unit property known as “Bramblett Hills” in O’Fallon, Missouri – was delivered on time, under budget, and has had a 97%+ occupancy rate since completion in 2016.
Bramblett Hills showcases one, two, and three bedroom floor plans over 17 buildings, together with a fitness center, business center, waterfall entry, outdoor cooking lounges, zero-entry pool, enclosed parking garages, and carports.
Land Development
Featured Project
Gateway Commerce Center
2,300 ACRES
Gateway Commerce Center is a 2,300-acre master planned business and industrial park, conceived by TriStar in 1996. To date, over 16 million square feet of modern distribution buildings have been constructed in the park. Gateway is home to DCs for blue chip companies such as P&G, Unilever, Amazon, Dial, and Hershey Foods. TriStar has developed 11 buildings in the park, totaling approximately 7 million square feet.
Park 370
420 ACRES
Park 370 is a 420-acre master planned business park located in Hazelwood, MO. The project includes over 1,655,000 square feet of industrial/distribution space and a 1.2 million square foot regional mall that was developed by the Mills Company on a 175-acre parcel. TriStar designed and added a highway interchange to enhance access to the site. The project was developed using tax increment financing from the local municipality.
Pheasant Point
120 ACRES
TriStar purchased this 120-acre plot of land in O’Fallon, Missouri, went through the zoning process, and added streets and utilities before selling land parcels to third parties and building a 25,000 square foot retail center.
In addition to the retail portion, this mixed-use development now includes three freestanding outparcels, an elementary school, a YMCA, and a 376-unit apartment complex.
Garden Valley
A TriStar affiliate developed this nearly 200 lot subdivision in Wildwood, MO, selling improved lots to multiple homebuilders.
Office
Allianz HQ
123,000 SF
This regional headquarters for a prominent insurance company consists of a 123,000 square foot building situated on 8.2 acres of land. TriStar developed this in conjunction with an institutional partner and then virtually the entire building was leased to the tenant.
Magellan
232,000 SF
TriStar developed this regional office campus to specifically suit the needs of Magellan Behavioral Healthcare. A 122,000 square foot companion building was developed adjoining this property which included Magellan’s data center, as well as other high-density office tenants.
Retail
Lakeside
Crossing
60,000 SF
TriStar developed this 60,000 square foot retail center to provide dining, shops and professional services to the adjoining MasterCard Global Technology Center and the residents of the WingHaven master planned community in O’Fallon, Missouri.
