This article originally ran in the St. Louis Post-Dispatch on November 11, 2021.
In October, Alfredo Gutierrez closed on a deal that he had never seen in his 30 years in commercial real estate.
The founder of SparrowHawk, a Houston-based investor of industrial properties, worked out a bargain where a tenant agreed to move out of his company’s Sauget warehouse months early to allow a new company to move in. It was a win for both: The outgoing firm, medical supply company Medline, could end its lease early, save money and move to its newer facility sooner. The other tenant, color maker Sensient Technologies Corp., could finally land 300,000 square feet in a real estate market that has never been hotter.
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