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ALTON, IL-Imperial Manufacturing, based in Richibucto, New Brunswick, Canada, will move into 122,400 sf later this month at 1450 Discovery Parkway in the Alton Center Business Park, which is being developed by St. Louis-based Clark Properties and St. Louis-based Clayco Construction Co. Imperial specializes in equipment for the heating, air condition, ventilation and building products industries.
The space will house the company's U.S. corporate offices and will include about 5,000 sf of office space, 30,000 sf of manufacturing space and about 87,400 sf of warehouse and distribution space. The length of the lease was not disclosed. The asking lease rate for the park is $2.95 per sf, triple net, says Wayne Weidemann, vice president of Clark Properties.
Alton Center is a 150-acre mixed-use development at the intersection of Illinois Route 143 and Broadway. The site was formerly occupied by the Owens-Illinois Glass Bottle Plant, which was abandoned in 1993. American Water Service Co. currently occupies 65,000 sf in the park.
The first phase of the development included renovating two existing buildings where Imperial Manufacturing and American Water are located. For the second phase of the project, there is 75 acres of land available for new development, Weidemann says. The park, when completed, will have an estimated value between $80 million and $100 million, he says.
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