Newmark Knight Frank (NKF) has successfully completed the sale of the STL Logistics Portfolio in Hazelwood, Missouri to Lincoln Property Company for $49.2 million. On behalf of the Boston-based Colony Realty Partners team, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director James Tribble of NKF’s Capital Markets team, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the eight-building industrial portfolio in conjunction with NKF Managing Director Jay Kerley and Block Hawley President Jeffrey Hawley.
The STL Logistics Portfolio comprises two adjacent industrial parks: Lambert Pointe Business Center, which includes six buildings totaling 624,116 square feet, and McDonnell Pointe Business Center, which includes two buildings totaling 115,640 square feet. The assets are presently 100 percent leased to a diverse 21-tenant roster anchored by Monsanto, Access, Aesculap, Buckeye International and Ryder.
“Located just 20 miles northwest of St. Louis, the STL Logistics Portfolio benefits from an exceptional ‘last-mile’ distribution location,” said Pullen. “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.”
The properties within the STL Logistics Portfolio are strategically situated immediately off Interstate 270 and adjacent to the St. Louis Lambert International Airport with convenient proximity to St. Louis’ extensive rail and port infrastructure. This established industrial location is home to more than 1,000 businesses, including bioMérieux, Boeing, GKN Aerospace, IBM, TAGG Logistics and the United States Postal Service.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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