Save-A-Lot likes St. Louis County, and it cannot lie. The discount grocery chain is sticking with the Missouri county, with plans to settle into a new St. Ann-based headquarters at the former Northwest Plaza, now known as The Crossings at Northwest.
“St. Louis has been home to Save-A-Lot for more than forty years, and we are proud to continue our association with this great city,” said President and CEO Kenneth McGrath. “Our desire to build for the future in state-of-the-art facilities with continued access to great talent on our doorstep underpins this decision.”
The approval of incentives has yet to be finalized, but the company is looking to jump in on The Crossings’ Building 400, a 125,000-square-foot space that is capable of expanding to 232,000-square-feet. This move will add 64 jobs and retain 450 employees at the facility, which, according to St. Louis County officials in a recent St. Louis Post-Dispatch article, contributes $328 million to the region’s economy.
The state’s Missouri Works program will offer $3 million, and its Skilled Workforce Missouri program will bring $85,000 to the table, all in an effort to support the execution of this next big step for the retailer. In addition to these funds, the headquarters’ new hometown, St. Ann, is offering a 50 percent property tax abatement over a 15-year term in exchange for the newly created jobs.
This headquarters move into The Crossings from its current Earth City location is the retail chain’s newest move, after bring sold by Supervalu to Canadian private equity firm Onex Corp for $1.37 billion. The current homebase for the company has been appraised at $9.5 million and is owned by Smith Asset Holdings LLC and Moran Foods Inc, which, the news source explains, does business as Save-A-Lot.
McGrath, the company’s new President and CEO, joined the Save-A-Lot team just over a year ago, which might also have brought about a revamp, resulting in a change in headquarters location to spur growth and new opportunities.
Starbucks, Menards, Charter Spectrum, and the St. Louis County Board of Elections will all be neighboring tenants at The Crossings, a facility location that will be 90 percent occupied once Save-A-Lot settles there, the news source explained.
Is this new step the mark of more plans to expand and branch out in the surrounding region and beyond? Deli Market News will continue to keep you updated with the latest.