KBS Signs 63 KSF Lease in St. Louis Area
- Jan 05, 2018
KBS REIT II has signed two leases totaling 62,729 square feet at its Pierre Laclede Center in Clayton, Mo. The Saint Louis Club, an existing tenant, has renewed its lease and will continue to operate its private business and dining club across 47,572 square feet on the top three floors in the smaller of the two buildings. KBS also signed a lease with the St. Louis Economic Development Partnership, which will occupy 15,190 square feet of office space within the larger building.
Located at 7701 and 7733 Forsyth Blvd., the Pierre Laclede Center is comprised of two buildings, 16 and 24 stories in height, totaling 579,846 square feet. Originally built in 1964 and 1970, the buildings were extensively renovated in 2014. KBS acquired the property from Equus Capital Partners in early 2010 at a price tag of $74.3 million, according to Yardi Matrix. Tenants in the two towers include Northwestern Mutual, Morgan Stanley, the Consulate of Sweden and St. Louis Title.
A CBRE team led by Marc Palmer and Artie Kerckhoff represented KBS in the transactions.
“We are pleased to maintain our relationships with long-lasting tenants such as The Saint Louis Club and St. Louis Economic Development Partnership,” said Brett Merz, senior vice president at KBS, in a prepared statement. “We remain confident in the amenities at and around Pierre Laclede Center as the property maintains its reputation as an iconic asset in Clayton.”
Last year, KBS sold a mixed-use development located two blocks away to a joint venture between Franklin Partners and Bixby Bridge Capital.
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