Downtown Chesterfield is in the Sachs-developed ChesterfieldVillage, a 1,500-acre project that includes 20 office buildings,two retail centers and eight restaurants, all maintained, managedand leased by the company. Kathy Higgins, president of Sachs, saysthe new phase is being built on about 350 acres of undevelopedland. "Half of it will be residential, and half will be commercial,including the Central Park office buildings," she says. The otheroffice building is expected to be about 150,000 sf, she says. Theresidential portion will include a 191-acre subdivision on 45acres.

Memco is moving out of the Roosevelt building, one of the 20office buildings, and doubling its space into the Office Ifacility, Higgins says. "They're going to move over in March. Wehave a lease out for another floor and a half in that building, butwe don't have a signed lease back, it should be back this week,"she tells GlobeSt.com. She did not say the lease rate for Memco'sdeal, but the average office lease rate in Chesterfield is $19.50per sf for class A office space, according to a Grubb & Ellisfirst quarter market report.