ST. LOUIS 鈥 Peabody Energy is staying in downtown 狐狸视频 after concerns arose last year that the nation鈥檚 largest private coal company would leave its longtime Market Street headquarters.
The company signed a long-term lease renewal for Peabody Plaza, at 701 Market Street, though the building鈥檚 owner, Briar Meads Capital, declined to disclose the length of the lease and the square footage the company will occupy.
Peabody did not respond to a request for comment.
Briar Meads Capital had told the city last year that the company threatened to leave its longtime downtown office after gunfire had broken several of the building鈥檚 windows.
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Despite concerns of violence, downtown鈥檚 office market has remained relatively stable. The area reported a 17.7% vacancy rate in the second quarter of the year, a figure that has remained flat compared to the same period in 2021, according to research from commercial real estate firm CBRE.
Briar Meads Capital, a New York real estate investment firm, acquired 400,000-square-foot Peabody Plaza in 2020 for $35 million.
Over the past two years, Briar Meads has scored nearly 10 new tenants, including architecture firm Arcturis, law firm HeplerBroom, and cafes Ukraft and Windows on Kiener Plaza.