HAZELWOOD, MO, November 12, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of 8840-8850 Pershall Road, a 261,380-square foot industrial property located in Hazelwood, MO, according to Jon Ruzicka, regional manager of the firm’s Minneapolis office. The asset sold for $14,825,000.
The buyer, a limited liability company, was secured by Claire J. Roberts, SIOR, an investment specialist in Marcus & Millichap’s Minneapolis office. Bradley Barham, Broker, assisted in closing this transaction.
The building was built as a Pillsbury bakery building that was converted to a food grade production facility housing two established tenants. The property is conveniently located along I-270 in the northern St Louis suburbs and is located just minutes from the St. Louis Lambert International Airport. This acquisition marks the entrance into the St. Louis market for St. Paul Properties.
