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Issue: 1074 Date: 3/24/2011
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Palm Beach, Fla.-based coal company moving to downtown St. Louis.
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| Metropolitan Square, 211 North Broadway, downtown St. Louis |
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Downtown St. Louis is becoming home to another coal company. Foresight Energy, which sells coal domestically and to markets in Europe and India, is moving its headquarters from Palm Beach, Fla., to the Metropolitan Square building at 211 North Broadway, downtown St. Louis by April 1. The privately held company has signed a five-year lease for 16,000 square feet, which amounts to about half of Met Square's 26th floor.
The St. Louis Post-Dispatch reported that the company will start out with six employees but plans to increase the St. Louis staff to about 45.
The company will start out with only about six employees but plans to grow the St. Louis staff, said Lynn Schenck of Jones Lang LaSalle, which handled the lease. Foresight already is in temporary space at Met Square and anticipates being in its 26th-floor office by April 1, Schenck said today.
A producer of thermal coal, Foresight has nearly 3 billion tons of coal reserves in the Illinois. I sells coal domestically and internationally to markets in Europe and India. Schenck said Foresight's desire to be near its mining operations prompted the move to St. Louis.
Foresight's six headquarters employees compares with 600 workers at Peabody Energy's headquarters downtown. After looking around at other sites, Peabody said this month it will stay put and carry out a $25 million makeover of its space at the Gateway One building on Market Street.
Metropolitan Square, located at 211 N. Broadway, is the tallest and largest office building in downtown St. Louis with more than one million square feet of space.
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