ST. LOUIS—Although user demand intensified in recent years, causing the vacancy rate to plunge, there has also been a big hole in the center of the St. Louis industrial market for a long time. The former Chrysler Assembly Plant in Fenton, MO, has been vacant for years, but with a ceremonial tossing of dirt, last week KP Development began construction on a new $10 million spec building, the first of many that will eventually fill this space.
Representatives from the St. Louis-based developer joined St. Louis County Executive Steve Stenger, Fenton Mayor Mike Polizzi, other municipal officials and other guests to break ground on what will be a single story, 160,000 square foot facility suitable for office, warehouse and multifunction use.
“Since the downturn, there has not been much construction, except for build-to-suits, in the St. Louis area,” Terry Barnes, managing director of KP Development, tells GlobeSt.com. “Right after the recession, there was still a little nervousness, but confidence has returned.”
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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.
