CBRE recently announced that the first speculative industrial building will be built within NorthPoint Development’s newly created Hazelwood TradePort in Hazelwood, Missouri, in the St. Louis market.
The 252,272-square-foot facility will have a 36-foot clear structure and is slated to be completed in the Fall of 2018.
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 an 18-year real estate tax abatement not subject to reassessment. All buildings and roads will be elevated above the 500-year floodplain.
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 Q1 2018.