ST. LOUIS—The markets for office and industrial space in the St. Louis metropolitan area have recently shown signs of life, with healthy rates of absorption and investment, and Prism Medical, a provider of safe patient handling and mobility equipment, has just signed a new lease expansion that should help absorb even more space.
The company has decided to relocate its US headquarters from its current 30,000-square-feet of space in west suburban Maryland Heights to 80,000-square-feet space at 10876 Metro Court, also in Maryland Heights. According to company documents, for the nine months ended August 31, 2013, its US revenues increased 28.9% compared to the same periods last year.
Charley Wallace, Prism's chief operating officer, says Prism signed a 12-year lease and will add between 10 to 20 employees when the company moves in May, 2014.
The property was previously the home of KV Pharmaceutical Co., which declared bankruptcy in 2012 and emerged from it last September. Jeff Altvater from Hilliker Corporation handled tenant representation for Prism and Cassidy Turley represented the landlord.
Prism Medical specializes in safety for both caregivers and patients with a variety of products including patient lifts and slings, assisted mobility aids, bathing systems, and accessibility products and services. Founded in 1997, Prism Medical has nearly 100 local employees, as well as offices in Canada and the UK with 450 employees.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
