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.
Read More:2 companies renew deals for downtown St. Louis office space
2023-11-03 11:05:00