Des Moines, Iowa-based Jacobson Warehouse Company is relocating and expanding its St. Louis consumer goods third-party logistics operation into 402,000 square feet of space at Northside Distribution Center in Hazelwood, Mo.
Terry Stieve and Dave Branding of Jones Lang LaSalle represented the landlord, Sacramento-based J.B. Management, which owns more than 2 million square feet of industrial space in the greater St. Louis area.
The transaction is the largest new industrial lease in St. Louis County or the city of St. Louis City since 2005, and is representative of the significant downward movement of modern bulk vacancy rates in St. Louis County from 28.9 percent to 24.8 percent.
