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First Industrial Building Groundbreaking For New Hazelwood TradePort
CBRE, a real estate arm of NorthPoint, has announced the first speculative industrial building will be constructed within NorthPoint Development’s newly created Hazelwood TradePort. The 252,272 square foot facility will have a 36-ft. clear structure and is slated to be completed in the Fall. A groundbreaking was being held June 7 at the site.
Brian Bush and Jon Hinds of CBRE’s St. Louis office, have been brought on to market the new building and future construction at the park.
Hazelwood TradePort is a new 325-acre development tract with the potential to support up to 4 million square feet of new construction. The Class A park has 18-year real estate tax abatement not subject to reassessment. All buildings and roads will be elevated above the 500-year floodplain.
“The City of Hazelwood looks forward to continuing its
successful partnership with NorthPoint,” Hazelwood Mayor Matthew Robinson said. “After receiving a 2018 Building St. Louis Award for Hazelwood Logistics Center, we’re eager once again to work with NorthPoint on another massive industrial business park that will drive economic growth for the entire region,” Robinson said.
According to a recent CBRE report, the North County submarket, where Hazelwood TradePort is located, led all St. Louis industrial submarkets with 396,576 square feet of positive absorption in the first quarter of 2018.
