Long Quiet Business Park Poised to Add More Warehouses
Date Posted: November 29, 2016
Posted In: Projects,
From St. Louis Post-Dispatch: The long wait for serious development to begin at a Hazelwood industrial park appears to be over.
After acquiring the roughly 150-acre site from companies affiliated with developer Paul McKee, a developer from the Kansas City area is moving forward with plans for two more warehouses in the Hazelwood Logistics Center.
A year ago, NorthPoint Development announced plans for an initial 200,000-square-foot warehouse in the industrial park near Missouri Bottom Road and North Lindbergh Boulevard. Now it is almost finished with a second, 400,000-square-foot warehouse and is moving ahead with plans for the third and fourth structures.
“Since they’ve come in, they’ve really come on strong,” said David Cox, who heads economic development for the city of Hazelwood.
The activity comes amid a hot local market for warehouse and logistics space. With the continuing growth of e-commerce and solid demand from U.S. consumers, space to store and ship goods in the heartland appears to be at a premium, and the St. Louis region’s low costs, proximity to rails and roads and a willingness to offer developers tax incentives appear to be encouraging a boom in speculative distribution space.
It couldn’t have come any sooner for the Hazelwood Logistics Center. Only one warehouse was constructed in the development, back in 2007.