Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

HAZELWOOD, MO-Plastics container manufacturer Matrix Packaging Co. has signed a lease for 150,000 sf of space at the 528,000-sf Lindbergh Distribution Center here. The Mississauga, Ontario, Canada-based company recently earned a contract to make plastic bottles for Proctor and Gamble.

Jon Hinds, VP of industrial leasing for building owner and developer Duke Realty Corp., says Matrix signed a five-year lease. Matrix will hire 75 employees to work at the space.

Duke completed the speculative building in November. “We have some other people looking at it, but nothing is finalized yet,” Hinds says. The building was constructed on the 26-acre former site of a General Motors Corp. parts distribution warehouse that has been torn down. The asking lease rate for the building, at Lindbergh Boulevard and James S. McDonnell Boulevard is $4.15 per sf, triple net, Hinds says. The building features 32-foot ceiling heights, docks on both sides of the building and lots of trailer parking, he says.

Hinds says his company built the facility because of the proximity to Interstates 70, 270 and 370, as well as a 50% tax abatement on the property. “This submarket in the north area has been traditionally a solid industrial market, the majority of the St. Louis bulk warehouse and distribution is in this market,” Hinds tells GlobeSt.com. Duke owns, manages or is developing more than seven million sf of office, industrial and retail in the greater St. Louis area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.