FORD SELLS PLANT, PANATTONI TO ADD 2.6M-SF PARK

HAZELWOOD, MO. — Ford Motor Co. has sold its 155-acre St. Louis Assembly Plant in Hazelwood to Panattoni Development Co. The buyer plans to demolish the existing structure at North Lindbergh Boulevard and add new buildings totaling approximately 2.6 million square feet of warehouse, distribution and light industrial space.
The Dearborn, Mich.-based automotive giant did not disclose the terms of the transaction but worked closely with the City of Hazelwood and the state of Missouri to find a buyer who would benefit the community.
“We are pleased that the sale of the property to Panattoni will result in a new development that will serve the community and preserve a positive legacy for Ford Motor Co.,” said Jay Gardner, director, Real Estate Services, Ford Land.
Sacramento, Calif.-based Panattoni has developed more that 2.8 million square feet in St. Louis over the past three years with a total value in excess of $135 million.
“This is a unique site, and we are delighted to be involved in its redevelopment,” said Mark Branstetter, senior vice president for Panattoni. “Through a shared vision and strong cooperation by all parties we were able to accomplish this acquisition. We are very excited to be building again in the City of Hazelwood.”
Hazelwood Mayor T.R. Carr has been working with both sides for months and was pleased that Panattoni will spearhead the redevelopment of the property.
“When discussing the future of the site with Ford last year, I expressed my vision to see the building demolished and the area restored so that it would once again be an employment and business center,” Carr said. “Ford accepted that vision and with the sale to Panattoni, new career opportunities will be made available and Hazelwood will remain a strong, viable community. We are proud to welcome Panattoni to Hazelwood.”
The City of Hazelwood is located in Northwest St. Louis County.