KP Development has signed leases with two more tenants that will be occupying a total of 150,000 square feet across two buildings at the Fenton Logistics Park taking shape at the site of the former Chrysler plant in Fenton, Missouri.
Starting in January of 2018, BJC’s Clinical Asset Management Division will move into 80,000 square feet in Building I, which was completed in May and features a total of 160,000 square feet. CoreLink, which designs and manufactures precision surgical instruments and implants, will occupy 67,000 square feet in Building II when it is completed next summer. This building is currently under construction and also will total about 160,000 square feet.
The latest signings come on the heels of two significant leases executed earlier this fall with Alkem Labs and Beckwood Press Co. Alkem Laboratories, a Mumbai-based pharmaceutical company, is in the process of moving into more than 32,000 square feet in Building I. Beckwood Press Co., a Fenton-based manufacturer of hydraulic presses and other specialty machinery, has signed a lease to occupy almost 56,000 square feet in Building II.
In addition to Buildings I and II, Building III will add an additional 168,000 square feet when it is completed in the summer of 2018. Also, Building IV has been approved and fully entitled by the City of Fenton, and KP Development anticipates commencing construction of this 157,500-square-foot building in the first quarter of 2018.
KP Development is in discussions with various prospective tenants for the limited remaining space in the first two buildings, as well as for the space that will be available in Buildings III and IV.
Since closing on the acquisition of the former Chrysler plant site in November of 2014, KP Development has already invested $12 million in site improvements related to the initial phase of infrastructure, roadway work and utilities, and the first four buildings represent an additional investment of $65 million.
