Brent Beumer, director of real estate for the grocery store Dierbergs, came before the Crestwood Board of Aldermen at its Sept. 12 meeting to give a Crestwood Crossing leasing update.
First, he brought to the board’s attention six new businesses that are currently under construction in Crestwood Crossing. The businesses include: Panera Bread, Club Pilates, Crumbl Cookies, Rooster Men’s Grooming Center, as well as an eye care center. One other business is also under construction, though Beumer could not recall what it was at the time of the meeting.
In other news, the developers are currently focusing the majority of their efforts from a leasing standpoint on the “west side on the outlots that are sort of across the street from where we are,” according to Beumer.
“We are in conversations with multiple restaurant tenants, both local and a couple of national players,” he said. “We’re pretty optimistic that we’re going to get two very good users that are going to make the City of Crestwood very pleased.”
However, due to construction costs skyrocketing coupled with staffing troubles, many restaurant tenets have been more cautious about opening up new locations.
“I think everybody is aware of the inflationary pressures that we see in our everyday lives, and that certainly continues in the construction trades. What that has led to, quite frankly, is the people out there that are looking to expand, they’re being very choosy. And they’re being, quite frankly, very slow. I would call it slow, they would probably say cautious, but I think there’s good reason behind it,” Beumer said.
In addition to restaurant tenants being selective on expanding, the developers at Crestwood Crossing have been “intentionally choosy” about the restaurants put into the development.
“Quite frankly, we could have done some things that were more, not that I’m against necessarily chain restaurants, but not really reflective of what we feel like is good for that overall development. So we’ve been choosy on that,” Beumer said.
Beumer also discussed one of the outbuildings on the site, the former Calvert building that is currently the temporary service center for Audi Kirkwood. Audi is expected to be out of the building by the October deadline set forward in a lease agreement between the auto shop and property owners. Audi Kirkwood has a new dealership under construction at 10204 Manchester Road in Kirkwood and are temporarily using the Calvert building as a servicing center.
Overall, Beumer is optimistic and believes the rest of the development is going well.
The aldermen were then asked if they had any questions. Only Ward 3 Alderman Grant Mabie had anything to say, and asked if there was a timeline on when the traffic lights may be moved from the temporary suspension cables over to the permanent poles that have been erected. Beumer responded that this should be completed by the end of the month, although installation must ultimately occur in conjunction with the Missouri Department of Transportation.