Peabody Energy Extends Global HQ Lease in St. Louis
- Dec 23, 2016
St. Louis—Peabody Energy renewed its commitment to downtown St. Louis by extending its lease agreement at Peabody Plaza through 2023.
Built in 1986, the 15-story high-rise located at 701 Market St. comprises 427,000 square feet of office space with 29,472-square-foot floor plates, according to data provided by Yardi Matrix. The property underwent cosmetic renovation in 2004 and 2011, and features a fitness center, common area Wi-Fi, a backup power generator and 515 parking spaces. In addition, it includes 15,000 square feet of ground-floor retail.
“We are proud to continue as a major employer and economic driver in downtown St. Louis, contributing to the city’s revenue base and supporting local businesses and downtown organizations that benefit all of us,” said Glenn Kellow, Peabody Energy president & CEO, in prepared remarks.
Peabody employs more than 380 people at its headquarters and nearly 7,000 worldwide. In the past year, the company established a St. Louis-based shared business services group to serve core global business functions including sales accounting, payroll, procurement and service management. In 2015, the firm paid about $90 million in payroll and benefits to its St. Louis employees. The company generated more than $17 billion in direct and indirect economic benefits globally.
Peabody has supported multiple major St. Louis projects and partnerships including the United Way of Greater St. Louis, CityArchRiver, the Saint Louis Zoo and Washington University’s Consortium for Clean Coal Utilization.
Image courtesy of Yardi Matrix