An industrial development powerhouse will be constructing a roughly $188 million industrial park in St. Louis, Missouri, after closing on a deal nearly four years in the making.
NorthPoint Development paid $12.55 million in December for about 186 acres of land at 12555 Snyder Mill Road, in a transaction brokered by SVN Infinity Commercial Group. The developer plans to construct an industrial park with four buildings spanning 1.9 million square feet, according to September plans filed with the city.
SVN Infinity marketed the land for less than six months, but the complex nature of the acreage took nearly four years for the deal to close. Collaboration was necessary for environmental reviews, rezoning, entitlement coordination, engineering, infrastructure planning and legal analysis. The deal earned a 2026 CoStar Impact Award, as judged by a panel of real estate professionals with knowledge of the local market.
The listing originally included an assemblage of 339.37 acres, making it one of the largest contiguous land offerings ever on the market in the area. When nearly 153 acres of wetlands and berm land were deemed non-developable, the SVN Infinity team deeded the land back prior to closing.
The closing cost amounted to $66,856 per acre, one of the highest in the area for the scale.
About the project: The land was owned by a private family.
What the judges said: "The project scenario was quite impressive in light of the total land assemblage and issues that had to be overcome," said Scott Drachnik of the Economic Development Council of St. Charles County.
Zach Williams of Lawyers Realty Co. called this a "large complicated transaction, which will bring new buildings (once built) to the St. Louis marketplace."
They made it happen: Mark and Alex Zvibleman of SVN Infinity Commercial Group represented the seller. The Devereux Company represented the buyer.
CoStar Market Manager Douglas Scott-Meagher contributed.