FERGUSON 鈥 The former longtime headquarters of industrial technology company Emerson has hit the market.
The 217-acre campus, off West Florissant and Lucas and Hunt Road in Ferguson, features 11 buildings spanning nearly a million square feet of space. The property boasts four tennis courts, two softball fields, a helipad, playground and proximity to the Norfolk Southern railroad, according to .
Emerson left the property, which it had occupied since the 1940s, and recently relocated to a new high-rise in Clayton. The company this week offered an open house to the media and business community.
Emerson no longer owns the campus: It transferred the property to Copeland, an air conditioning and refrigeration business Emerson spun off in 2023 as part of the two firms鈥 separation agreement.
People are also reading…
A Copeland spokeswoman said the campus is too big for its 350 local employees, and that it is looking elsewhere for a new headquarters. The spokeswoman added that the company has a 鈥渧ery strong preference鈥 to remain in the 最新杏吧原创 region.
鈥淎t this time, no final decisions have been made,鈥 spokeswoman Jenna Petroff said in a statement. 鈥淲e value our deep ties to the 最新杏吧原创 community and any decisions we make will carefully consider the impact on our local team and community and align with our commitment to fostering a positive, productive and supportive workplace.鈥
No timeline for either a sale or move was disclosed.
Regional business group Greater 最新杏吧原创 Inc. said in a statement that it has spoken with Copeland and that group would work with the company to keep them in the metro area.
In 2022, Emerson announced plans to leave the Ferguson campus, 8000 West Florissant, for a new headquarters elsewhere. The announcement stirred fears among local civic and business leaders that the region would lose yet another Fortune 500 company.
Emerson ultimately decided to stay in the region, though CEO Lal Karsanbhai said it had looked at other cities.
Marketing materials say the property could be redeveloped for other uses besides office, including distribution, retail and residential.
The north 最新杏吧原创 County office market has one of the lowest occupancy rates in the region at 78.2% at the end of 2024. The overall average for the region was 82.7% during the same period, according to research from commercial real estate firm Cushman & Wakefield.
Joseph Hill, executive vice president of commercial real estate firm Colliers, on behalf of Copeland.
Emerson CEO Lal Karsanbhai discusses Emerson's civic commitments on quality-of-life issues which help attract and retain workers, in a discussion聽with Steph Kukuljan of the 最新杏吧原创 Post-Dispatch,聽on Wednesday, Oct. 23, 2024.
Emerson CEO Lal聽Karsanbhai said the company will donate $2 million each to the 最新杏吧原创 Zoo, Great Rivers Greenway and Forest Park Forever.聽
