Hazelwood, Missouri – The Ford Motor Company has announced the sale of its St. Louis Assembly Plant property in Hazelwood, Missouri to Panattoni Development Company. The real estate developer plans to demolish the existing structure and turn the site into warehouse, distribution and light industrial space.

Ford worked closely with the city of Hazelwood and the state of Missouri to find a buyer who would develop the site in a way to benefit the community. The automaker did not disclose the terms of the sale.

“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 centre,” said T.R. Carr, mayor of Hazelwood. “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.”