I swear nobody reads and thinks anymore. That was the given from the first report about this, when Emerson sold the HQ to CLIMATE TECH joint venture that Blackstone owns 55% of and Emerson 45%
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So, am I getting this right that the CLIMATE TECH JV has said they will stay in STL on the Ferguson campus, but the rest of Emerson is still exploring the possibility for moving the HQ out of STL?
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yeah....the CT JV now owns the campus.DogtownBnR wrote: ↑Nov 07, 2022So, am I getting this right that the CLIMATE TECH JV has said they will stay in STL on the Ferguson campus, but the rest of Emerson is still exploring the possibility for moving the HQ out of STL?
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^Interesting... It would be nice if local officials could set up a pipeline of sorts with the local universities regarding recruiting to our big corporations here in STL. There could be something like this already, but clearly we need to beef up this program, as this seems to be a common complaint from our corporate community.
I was depressed listening to the Donnybrook crew on Ch. 9 discussing the situation last week. They were basically going back and forth on whether we'd lose Emerson or Centene HQ first.
I was depressed listening to the Donnybrook crew on Ch. 9 discussing the situation last week. They were basically going back and forth on whether we'd lose Emerson or Centene HQ first.
I’m not really sure where Centene would move. Everywhere they have tried to put another office it hasn’t went well.DogtownBnR wrote: ↑Nov 07, 2022^Interesting... It would be nice if local officials could set up a pipeline of sorts with the local universities regarding recruiting to our big corporations here in STL. There could be something like this already, but clearly we need to beef up this program, as this seems to be a common complaint from our corporate community.
I was depressed listening to the Donnybrook crew on Ch. 9 discussing the situation last week. They were basically going back and forth on whether we'd lose Emerson or Centene HQ first.
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STL Biz Journal: Emerson reveals $7.6B buyout bid for Texas-based public company
The offer is to acquire National Instruments Corporation (NATI) of Austin, TX. The offer is for $53/share, plus I believe an assumption of their debt. Apparently, EMR attempted to buy NATI last May for $48/share.
Does this indicate the company will relocate to Austin, into NATI's office space? It's not certain, but it's looking like they're gonna swap pork ribs for beef.
The offer is to acquire National Instruments Corporation (NATI) of Austin, TX. The offer is for $53/share, plus I believe an assumption of their debt. Apparently, EMR attempted to buy NATI last May for $48/share.
Does this indicate the company will relocate to Austin, into NATI's office space? It's not certain, but it's looking like they're gonna swap pork ribs for beef.
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Well, I hope they can pull it off (assuming they stay HQ'd in St. Louis). NI would be a solid portfolio addition. Makes sense now that they were maneuvering a lot of their recent divestment to build cash to make this deal.
Any anti-trust concerns? Does NI think they can get a better price in this market? Do they not see a strategic benefit? Emerson definitely put significant pressure on NI by going public with the offer, not sure if that makes it more or less likely they can get the deal done.
Says they'll be exploring a new headquarters. Of course, I would most worry about Dallas which has better air connections is closer to NI operation in Austin and no state income taxes. Need an Emerson Building in downtown St. Louis. Figure it out Missouri.
Any anti-trust concerns? Does NI think they can get a better price in this market? Do they not see a strategic benefit? Emerson definitely put significant pressure on NI by going public with the offer, not sure if that makes it more or less likely they can get the deal done.
Says they'll be exploring a new headquarters. Of course, I would most worry about Dallas which has better air connections is closer to NI operation in Austin and no state income taxes. Need an Emerson Building in downtown St. Louis. Figure it out Missouri.
Emerson's HQ is staying in St. Louis.
"Lastly, following a comprehensive review, we selected St. Louis, Missouri as our headquarters and are working to identify an appropriate location in the area," Karsanbhai ended.
https://finance.yahoo.com/news/emerson- ... 00670.html
https://finance.yahoo.com/news/emerson- ... 00670.html
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^Great news! Hopefully they choose a prominent location that is visible in the community and not some suburban, off the beaten path office park. I know that is likely what they will do, but I'm not greedy. I'm just glad they are staying.
STL BJ - Emerson unveils its headquarters location
https://www.bizjournals.com/stlouis/new ... ation.htmlFerguson-based Emerson Electric will keep its headquarters in St. Louis, the company said Wednesday.
Emerson’s announcement, which came as it shared financial results for the first quarter of fiscal 2023, comes after it announced in October it has sold its headquarters in Ferguson and would search for a new headquarters both within and outside of St. Louis.
How much space do they want?
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So now we get 2 HQS, Emerson and Climate Tech (which will stay at the current Emerson HQ)
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Emerson signed a 3 year lease to stay at current HQ in Ferguson last fall when it sold part of the company, 3 years lines up nicely with AT&T building office renovations being done by Q1 2026.....just saying.
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I wouldn't give Clayton such strong odds. I think downtown has at least an equal shot. I will say they have been in a suburban setting for years so someplace like Westport could be real competition. Kind of depends on if they are looking to build to suit or adapt an existing building to their uses.
909 Chestnut would be great. Is the planned office space there sufficient. If it isn't i am sure they could adjust the plan at this stage.
I'd wager some of the 1M sf of new office being built in Chesterfield.
I heard years ago that they would not allow realtors helping their employees relocating to STL to show them anything in the city. If that culture still prevails, locating in the city is very unlikely.
I heard years ago that they would not allow realtors helping their employees relocating to STL to show them anything in the city. If that culture still prevails, locating in the city is very unlikely.
I think DT has a bigger shot than people may be thinking. Still wouldnt say it leads all options though. - I don't think any option would be considered a front runner at this time actually. Timing could also work for an office tower at BPV as DeWitt has said he wants a HQ in the district.
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i like the idea of them at The Beacon, would also be very okay with a BPV or complete takeover of Gateway tower.,,
But downtown all day please.
But downtown all day please.
and lets not forget...
The Sandcrawler has entered the chat.
The Sandcrawler has entered the chat.
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Drooling at the daydream of Emerson + Enterprise HQs both located DT by 2030
