ST. LOUIS—KP Development has just signed leases with two more tenants who will occupy a total of 150,000 square feet across two buildings at the new Fenton Logistics Park, which the company has begun building on the site of the former Chrysler assembly plant in suburban Fenton. Starting in January, BJC's Clinical Asset Management Division will move into 80,000 square feet in the 160,00-square-foot Building I, which KP completed in May. And CoreLink, which designs and manufactures precision surgical instruments and implants, will occupy 67,000 square feet in Building II when KP completes that 160,00-square-foot structure next summer.
The latest signings come on the heels of two significant leases executed earlier this fall with Alkem Labs and Beckwood Press Co. Alkem, a Mumbai-based pharmaceutical company, is currently moving into more than 32,000 square feet in Building I. Beckwood, a Fenton-based manufacturer of specialty machinery, has signed a lease to occupy almost 56,000 square feet in Building II.
“Since we completed the site infrastructure on the east side of the site and erected Building I, the velocity of deals and companies looking at Fenton Logistics Park has increased dramatically,” says Scott Haley, KP's managing director. “Nearly 400 quality, skilled jobs are attributable to these tenants, and we are confident they are the first wave of vibrant companies who will choose to put down roots within this development.”
In addition to Buildings I and II, KP will complete the 168,000-square-foot Building III by next summer. Also, the City of Fenton has approved and fully entitled the 157,500-square-foot Building IV, which KP anticipates commencing construction on in the first quarter of 2018. Based on the strong level of interest by tenants looking for new buildings and expansion opportunities in Fenton and the South County area, KP officials say they are very optimistic that tenants will occupy or make commitments to all of this new space by early 2019.
Since closing on the acquisition of the plant site in November 2014, KP Development has already invested $12 million in site improvements related to the initial phase of infrastructure, roadway work and utilities. The first four buildings represent an additional investment of $65 million. Looking ahead, KP Development envisions a $222 million, 2.1 million-square foot business park.
“We are a growing company with expansion needs that, over the past few years, have forced us into three different locations in St. Louis.,” says Jeff Debus, president of Beckwood Press Co. “Consolidating into the Fenton Logistics Park allows us to reunite all of our business units under one roof and provides us the ability to add specialized components and other start-of-the-art features that we don't have in our existing facilities.”
The architect for the buildings and master plan is M&H Architects. Paric constructed Building I and the initial site infrastructure. Arco Construction is constructing Buildings II and III. Piers Pritchard with Cushman & Wakefield represented BJC in the latest lease transaction, while John Hinds and Katie Haywood of CBRE represent KP Development in all transactions related to Fenton Logistics.
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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.
