NAI DESCO Awarded St. Louis Chrysler Plants Listing
Saint Louis CNR: Construction News and Real Estate
May 5, 2010
NAI DESCO has been selected by Old Carco, LLC (formerly Chrysler) to serve as the real estate broker for the sale of Chrysler's North and South Assembly Plants in Fenton.
Vice President Floyd Sweeney, SIOR, MCR and Principal Dan Hayes are the listing agents for the property, which is also referred to as Fenton 44 Center.Located off I-44 near I-270, the two plants are on 295 acres and contain five million square feet under roof making this the largest commercial property listing in the St. Louis metropolitan area and one of the largest in the central United States.
"This is the biggest asset ever listed for sale in the St. Louis metro area," said Hayes. "Our substantial industrial experience and organizational structure made NAI DESCO the logical choice for an assignment of this size." Although the commercial real estate market is contending with the current recession, the listing agents are optimistic the property will sell quickly and for a strong price. "The best case scenario would be for another manufacturer to purchase the property and use the assembly facilities. Absent that, however, we have a very large, well situated site with tremendous exposure and access - the redevelopment possibilities are endless for Fenton 44 Center," said Sweeney.
"The property's location and size make it extremely attractive for the right buyer," said Denny Coleman, St. Louis County Economic Council president and CEO. "Additionally, there may be a number of local and state incentives that could be utilized, and we're prepared to implement appropriate action for the right company looking to invest and create good-paying jobs in Fenton."
The North Plant, which produced Dodge Ram trucks, was idled in July 2009 following Chrysler's bankruptcy filing. The South Plant, which produced Dodge & Chrysler