Thursday, June 30, 2022
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Cookie Privacy Policy
  • DMCA
Daily Market Business News
  • LatestToday
  • Small Business
  • MarketsDaily
  • Politics
  • Companies
  • World
  • Jobs
  • FinanceNow
  • industry
  • Economy
  • ForexDaily
  • LatestToday
  • Small Business
  • MarketsDaily
  • Politics
  • Companies
  • World
  • Jobs
  • FinanceNow
  • industry
  • Economy
  • ForexDaily
No Result
View All Result
Daily Market Business News
Home Small Business

Chesterfield mall leases space ahead of temporary redevelopment

February 11, 2022
Reading Time: 3 mins read
Chesterfield mall leases space ahead of temporary redevelopment


The leases would be in effect while the company works to finalize plans for its $1 billion overhaul of the site.

ST. LOUIS — The owner of the Chesterfield Mall says it is offering space for lease to businesses at a lower cost than is typical, in anticipation that the space will be available only until the mall is redeveloped as “Downtown Chesterfield.”

The Staenberg Group, the Overland-based developer that purchased the mall in 2020, is offering empty commercial space to small businesses that don’t require foot traffic generated by the mall, located at Interstate 64 and Clarkson Road.

The leases would be in effect while the company works to finalize plans for its $1 billion overhaul of the site as the planned mixed-use community Downtown Chesterfield, which could eventually feature apartments, condominiums, office, retail and other amenities, all built over 10 years. The project requires zoning approval but could begin construction as soon as spring 2024.

Until then, rents vary for temporary tenants at Chesterfield Mall based on size and use, but are offered at a “substantially discounted rate than what you would normally see,” said Tim Lowe, TSG vice president of leasing and development.

Depending on size of the space and location within the mall, prospective tenants could pay rent ranging from $500 to $2,500 a month, Lowe said. For the third quarter, asking rents for the Chesterfield retail submarket averaged $19 a square foot for small shops and $15.75 overall, compared with $17.46 for small shops in the region and $13.35 overall, according to research from Newmark Zimmer. The Chesterfield submarket had a 0.4% vacancy rate for small-shop retail as of the third quarter of 2021, with a total vacancy rate including big box of 3.7%. The region had 4.7% retail vacancy, with 2.2% for small shops.

The ideal business for the temporary lease would not need foot traffic to survive and is not looking for a permanent home, Staenberg Group said. An “eclectic” group of businesses has already taken advantage of the offer, the company said. That includes Warehouse of Fixtures, which opened a showroom in the former American Girl store in the mall to test a West County addition to its original Market Street showroom in downtown St. Louis.

The mall is about half to three-fourths full with many of the businesses enlisted through the program, including real estate offices and an insurance company, Lowe said. Businesses that only want manufacturing or storage space not accessible to the general public can also lease unused space at the mall.

…



Read More: Chesterfield mall leases space ahead of temporary redevelopment

Tags: aheadChesterfieldleasesmallredevelopmentspaceTemporary
ShareTweetPin
Previous Post

A ‘firestorm’ of hawkish Fed speculation erupts following strong U.S.

Next Post

EURUSD trading above and below 1.1400 as traders ponder what next after the

Related Posts

Delaware cleaning firm keeping educational opportunity open

by MARKET OF BUSINESS
February 13, 2022
0

WILMINGTON, Del. (AP) — Faced with the prospect of the COVID-19 pandemic forcing them and others to lose out...

5 firefighters hurt battling blaze in Roseland: officials

5 firefighters hurt battling blaze in Roseland: officials

by MARKET OF BUSINESS
February 12, 2022
0

Five Chicago firefighters were hurt while responding to a large blaze Saturday afternoon in Roseland on the Far South...

Little Cherry Disease research presented Wednesday | Business |

Little Cherry Disease research presented Wednesday | Business |

by MARKET OF BUSINESS
February 12, 2022
0

Little Cherry Disease research presented Wednesday | Business | wenatcheeworld.com wenatcheeworld.com Read More: Little Cherry Disease research presented...

Watch Elon Musk give an update on SpaceX’s massive Starship rocket

by MARKET OF BUSINESS
February 11, 2022
0

Note: SpaceX is producing the webcast for this event.[The livestream is slated to begin at 9 p.m. ET. Please...

How To Refinance An Investment Property – Forbes Advisor

How To Refinance An Investment Property – Forbes Advisor

by MARKET OF BUSINESS
February 10, 2022
0

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions...

How to Start a Property Management Company

How to Start a Property Management Company

by MARKET OF BUSINESS
February 9, 2022
0

Looking to start a business offering property management services? Remember there’s an overlap between what a property manager and...

Next Post
EURUSD trading above and below 1.1400 as traders ponder what next after the

EURUSD trading above and below 1.1400 as traders ponder what next after the

0 0 votes
Article Rating
Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trend Today

JPS students get crash course in entertainment industry

JPS students get crash course in entertainment industry

February 14, 2022
Boris Johnson latest news: PM ‘can win next election’ as Starmer receives

Boris Johnson latest news: PM ‘can win next election’ as Starmer receives

February 13, 2022
Biden tells Zelenskyy U.S. will respond ‘swiftly and decisively’ if Russia

Biden tells Zelenskyy U.S. will respond ‘swiftly and decisively’ if Russia

February 13, 2022
U.S. efforts on pandemic, economy: Things are a bit better, but not yet

U.S. efforts on pandemic, economy: Things are a bit better, but not yet

February 13, 2022

Most Common Money Lies in Relationships

February 13, 2022

Leveraged DeFi Coming to Fantom – Will This Turn FTM Bullish?

February 13, 2022
ADVERTISEMENT

Latest News

Lawyer Kicked Off BA Flight Because Nanny ‘Not Seated in Business Class’

Lawyer Kicked Off BA Flight Because Nanny ‘Not Seated in Business Class’

February 13, 2022
Making ‘Dinobabies’ Extinct: IBM’s Push for a Younger Work Force

Making ‘Dinobabies’ Extinct: IBM’s Push for a Younger Work Force

February 12, 2022
Walmart ends mask mandate for vaccinated employees

Walmart ends mask mandate for vaccinated employees

February 12, 2022
A ‘firestorm’ of hawkish Fed speculation erupts following strong U.S.

A ‘firestorm’ of hawkish Fed speculation erupts following strong U.S.

February 11, 2022

Economy

U.S. efforts on pandemic, economy: Things are a bit better, but not yet

U.S. efforts on pandemic, economy: Things are a bit better, but not yet

February 13, 2022
US Exporting Every Molecule of LNG Possible – gcaptain.com

US Exporting Every Molecule of LNG Possible – gcaptain.com

February 13, 2022
Art Laffer: I don’t see any hope for inflation coming down substantially –

Art Laffer: I don’t see any hope for inflation coming down substantially –

February 12, 2022

Oil jumps amid escalating tensions between Russia and Ukraine

February 11, 2022

Finance

Most Common Money Lies in Relationships

February 13, 2022
Why the Fed overstimulated the economy

Why the Fed overstimulated the economy

March 24, 2022
6 Stocks for a 2022 of Higher Interest Rates and Slower Earnings Growth

6 Stocks for a 2022 of Higher Interest Rates and Slower Earnings Growth

February 12, 2022

A Harvard-trained economist shares the surprising benefits of marriage

February 11, 2022

Forex

Leveraged DeFi Coming to Fantom – Will This Turn FTM Bullish?

February 13, 2022
Experts paint grip picture of what could happen if CBN stops sale of forex

Experts paint grip picture of what could happen if CBN stops sale of forex

February 13, 2022
US CFOs report supply chain and currency FX volatility

US CFOs report supply chain and currency FX volatility

February 12, 2022
EURUSD trading above and below 1.1400 as traders ponder what next after the

EURUSD trading above and below 1.1400 as traders ponder what next after the

February 11, 2022

© 2020 Marketofbusiness.com

  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Cookie Privacy Policy
  • DMCA
No Result
View All Result
  • Latest
  • Small Business
  • Markets
  • Politics
  • Companies
  • World
  • Jobs
  • Finance
  • industry
  • Economy
  • Forex

© 2020 Marketofbusiness.com

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously

wpDiscuz