Ventas Inc., a Chicago-based real estate investment trust, is expanding in St. Louis with a new $115 million development in the Cortex innovation district.
The 320,000 square foot development at 4210 Duncan, expected to be completed by the end of 2021, is located near four other Ventas owned buildings in the district that total 700,000 square feet of space.
"4210 Duncan will build on this momentum in the attractive Cortex market by delivering needed additional capacity to this high-demand market," the company said in a statement Monday.
Ventas is partnering with real estate firm Wexford Science & Technology LLC on the new building. Separately Monday, Ventas announced other major developments with Wexford in Pittsburgh and Philadelphia.
“With $0.9 billion of our $1.5 billion development pipeline announced, we look forward to bringing these projects to successful completion while we also work to make the balance of our near term pipeline a reality," John Cobb, Ventas Executive Vice President and Chief Investment Officer, said in a statement.