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Lease Transactions

Transactions completed in the last 90 days include:

  • EHL Academy leased 110,057 s.f. at 1881 Pine, a Class B bulding in the CBD, for eleven years as its new home for a charter school.

  • Computer Science Corporation renewed 23,000 s.f. for three years at the Class A, #8 Executive Drive, Fairview Heights Executive Plaza III in Fairview Heights, IL.

  • Doe Run Resources renewed 18,265 s.f. at Park 270 II (Class B) in West County.

  • Woolpert renewed its lease at 1900 Station Plaza (Class B), 1910 Pine Street for 10,640 s.f. in the CBD.

Large Transactions in Play:   

  • It is rumored that Arcturis is going to execute a deal for approximately 30,000 s.f. at the Class B, LaClede Gas Building in the CBD, relocating from 1900 Station Plaza in the CBD.

  • It is rumored that Concentra will reducing their square footage by 15,000 s.f. at 5757 Phantom Drive, a Class B building in Northwest St. Louis County.

  • Cornerstone Financial is searching the Clayton and Creve Coeur markets for approximately 13,500 s.f.

  • Radio One is in the market searching for a new location for their two radio stations.  Radio One is currently in 9666 Olive, a Class B building in Olivette, but is considering a move to the CBD.

Building Sales

Building sales of note:

  • Old Town Executive Center (Class A) in Clayton is under contract to a local investor, Bruce Development, for approximately $35 million.

  • Bemiston Tower (Class A) in Clayton sold to Cornerstone Real Estate Advisors for $32.1 million ($184/s.f.).

  • The Sevens Building (Class A) in Clayton sold to TripleNet Properties for $29 million ($147/s.f.).

  • The Shell Building, (110,999 s.f., Class C) located at 1221 Locust, sold for $2.5 million ($23/s.f.) to RSDB LLC. The building will remain office and they will focus on leasing space to law firms.

  • Fifth-Third Financial Center (Class A) in Clayton is under contract.

Construction

  • Pyramid Companies has announced its intent to redevelop 1 million s.f. of mix-use property in several buildings it owns in the CBD.

  • Centene announced its intention to acquire a portion of Ballpark Village and construct an 800,000 s.f. corporate headquarters.  Centene wanted to remain in Clayton but was unable to acquire enough ground.  Centene Centre will be completed in early 2011.

  • The Missouri Development Finance Board approved an additional 36,000 s.f. of restaurant and retail space to be added to Ballpark Village, for a total of 360,000 s.f

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