ST. LOUIS — Two local companies are staying downtown after renewing their office leases.
Steph Kukuljan and other business reporters bring you insights into St. Louis-area real estate and development.
Brown & James signed a 10-year deal to remain at the Bank of America Plaza on Market Street. The law firm will occupy 30,000 square feet.
And architecture firm Oculus signed a five-year deal for 15,000 square feet at Gateway Tower, which overlooks the Arch grounds.
The deals come as office occupancy in downtown St. Louis and the region at-large remains stagnant, year-over-year. Downtown reported occupancy at 78.1% and the region at 82%, according to the latest data from real estate firm Cushman & Wakefield.
John Warren of Cushman & Wakefield represented both tenants in the renewals. He said Brown & James had looked at space in the suburbs but decided to remain downtown due to its walkability.
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The law firm, he added, is aware that the building’s lender foreclosed on the property owner, California-based Positive Investments, after it defaulted on its loan.
Newmark Zimmer represented Gateway Tower in its deal.
A selection of photos from 2022 by David Carson a Pulitzer Prize-winning photographer for the Post-Dispatch. In 22 years on staff he’s covered everything from war in Iraq and Afghanistan to pet of the week in St. Charles. He appreciates his family who puts up with his love for chasing news at all hours. See more of his photographs from 2022.
Read More:2 companies renew deals for downtown St. Louis office space
2023-11-03 11:05:00
