Lincoln Property Company has acquired an eight-building industrial portfolio in Hazelwood, Missouri, for $49.2m. The STL Logistics portfolio includes two adjacent industrial parks: Lambert Pointe Business Center, which offers 624,116 sq ft in six buildings, and McDonnell Pointe Business Center, which includes two buildings totaling 115,640 sq ft. The assets are currently fully leased to 21 tenants, including Monsanto, Access, Aesculap, Buckeye International and Ryder. The properties are strategically situated off Interstate 270 and adjacent to the St. Louis Lambert International Airport. Newmark Knight Frank represented the seller, Colony Realty Partner.
“Located just 20 miles northwest of St. Louis, the STL Logistics portfolio benefits from an exceptional ‘last-mile’ distribution location,” said Matthew Pullen, executive managing director at NKF. “The assets comprise the exact type of infill, multi-tenant distribution facilities that are highly sought after in today’s marketplace for their high-quality, flexible design and modern infrastructure.”
