Hazelwood Distribution Center

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in the Hazelwood Distribution Center, a 180,658 square foot light-industrial facility located in St. Louis, MO (the “Offering”, the “Property”, or the “Asset”). The Property’s infill positioning offers immediate access to major interstates and/or arterials that connect users to downtown St. Louis and other major midwest metros; enabling direct entry to large labor pools and rooftops. This high-performing, light industrial asset is 100% leased to 4 tenants with a weighted average tenure over 15 years, demonstrating the value of the Asset’s location and functionality through its committed tenancy. The rent roll features 3.9 years of WALT and a 10.5% mark-to-market opportunity, providing investors with a stabilized cash flow and a near-term yield enhancement opportunity.

The Offering presents a favorable industrial sub-asset type, as light-industrial / shallow-bay assets are facing minimal new competition with only 0.5 - 0.7% of existing stock delivered nationally in Q1 2024, as the costs to build these infill industrial assets is increasingly more expensive. With suite sizes and bay depths suitable for both single and multi-tenant occupancy, the Property draws the attention of users in a wide range of industries, such as third-party logistics, transportation, and energy solutions providers, among others. Further, the diverse range of tenant businesses helps to alleviate any concerns regarding over-exposure to a downturn in a single industry. Under the stewardship of a best-in-class owner, the Property remains competitively positioned providing downside protection to economic disruptions or functional obsolescence by appealing to the widest potential user audience.