CBRE has pre-leased a total of 382,105 square feet of space to four tenants at Aviator Business Park, a 155-acre Class-A industrial park in Hazelwood, Missouri.
CBRE’s Katie Haywood and John Frith handled lease negotiation on behalf of the landlord and developer, California-based Panattoni Development Company Inc.
The pre-leased space is part of Aviator Business Park’s latest expansion comprised of three new facilities: the 275,862-square-foot Aviator 6 building, the 197,188-square-foot Aviator 2 building and the 130,928-square-foot Aviator 5 building.
The three buildings are scheduled to deliver in September and are 60% leased to the following tenants:
- Pretium Packaging leased 178,128 square feet in Aviator 6.
- Federal Moving and Storage leased 97,734 square feet in Aviator 6.
- Community Wholesale Tire leased 76,058 square feet in Aviator 2.
- Rivian leased 30,185 square feet in Aviator 5.
The new buildings, being built by Kadean Construction, will feature modern specifications including 32’ minimum clear heights, office space, docks with 40,000-pound mechanical levelers and seals, ESFR sprinkler systems, 50’ by 50’ column spacing, and ample car and trailer parking. The industrial park is situated one mile north of St. Louis Lambert International Airport with quick access to Interstates 70, 270, 170 and 64, and is served by the Norfolk Southern Railroad.
Panattoni purchased the Hazelwood Ford property in 2008 to develop Aviator Business Park. To date, the developer has completed six buildings that are fully occupied by various tenants including Graybar, International Foods and Weekends Only. Once the three speculative buildings are complete, the park will total more than 2.7 million square feet.
St. Louis-area industrial activity remained robust in the second quarter of 2022 despite supply constraints, according to CBRE Research. Vacancy rates decreased year-over-year and seven million square feet of new product is slated to deliver in the second half of the year, 32.4 percent of which is preleased.
