Kansas City developer NorthPoint Development broke ground Thursday on its first warehouse in a new Hazelwood industrial park north of the St. Louis Outlet Mall.
The 250,000 square-foot speculative industrial building will be the first in the new Hazelwood TradePort and should be completed this fall.
The building could be the first of as many as eight industrial and logistics buildings on the 385-acre site. The developer has recently built out Hazelwood Logistics Center, a fully-developed 150-acre business park that includes tenants such as Amazon and Bunzl Distribution.
Hazelwood has approved 18 years of property tax abatement for the buildings, worth about $55.5 million over the life of the subsidy. The city has extended generous incentive packages for many of its business parks.
The buildings will be elevated out of the 500-year flood plain along the Missouri River, and Hazelwood Mayor Matthew Robinson said “we’re eager once again to work with NorthPoint on another massive industrial business park that will drive economic growth for the entire region.”
NorthPoint has broken into the St. Louis market in a big way in recent years. It developed the massive 1.1 million square-foot warehouse serving the General Motors plant in Wentzville. St. Louis County is likely to select NorthPoint as the redeveloper of the dead Jamestown Mall following an extensive request for proposal process that drew only one response.
St. Louis Post Dispatch
Date: June, 08 ,2018
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