urbanSTL

I heard the bridges are coming down in May - or at least the bridges between 1010 and the adjacent buildings. That is before everyone is moved out of AT&T Center.

bprop wrote:I heard the bridges are coming down in May - or at least the bridges between 1010 and the adjacent buildings. That is before everyone is moved out of AT&T Center.

Why?

gary kreie wrote: ↑

Feb 18, 2017

bprop wrote:I heard the bridges are coming down in May - or at least the bridges between 1010 and the adjacent buildings. That is before everyone is moved out of AT&T Center.

Why?

They are building out the space on the 3rd floor of 1010 Pine into a technology "genius bar" type setup, and it requires that the bridge be closed off. I said bridges between 1010 and I really meant the bridges attached to One ATT/909 Chestnut. AFAIK the one between the garage and 1010 Pine is staying.

When Dallas-based AT&T announced it would be leaving the tower, at 909 Chestnut St., in September 2013, the company said it planned on moving employees to neighboring facilities at 801 Chestnut and 1010 Pine streets and into AT&T-owned buildings in St. Louis County.


But AT&T Missouri President John Sondag said the company has since changed its plans and will keep all of its downtown employees in the city. “We have since decided to keep everyone downtown,” he told the Business Journal.

Read more
http://www.bizjournals.com/stlouis/news ... tower.html


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That may be true in principle, but I know of a good handful who are moving to Des Peres. And a bunch more who are becoming full time telecommuters. Unless someone is in the office full-time, they will have access only to very open, call center-like, drop-in space. That convinced a number of 'flex workers' to just stay home full-time.

From the biz journal article I take it that the ATT One Center owner's game plan is to default. Behind pay wall so not sure if I understand what Fitch Ratings is stating. Waiting to see what PD reports

http://www.bizjournals.com/stlouis/news ... eport.html

One AT&T Center, the largest office building in the St. Louis region, has been transferred to a special servicer due to imminent monetary default, according to Fitch Ratings.

It basically says that ATT was paying 16mil/year in rent and that without that income the owners will default on the loan. The building is appraised at $108 million and the owners owe $112 million. The rest is basically what I regurgitated above.... that an architect has been hired to explore reconfiguring the building for multiple tenets, that there is very almost no parking, and that colliers has been hired to market the bldg.


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Just heard that the landlord won't be renewing the leases for CVS or Breve in a month or so. I don't know if CVS planned to stay, but word is that Breve wanted to.

bprop wrote: ↑

May 08, 2017

Just heard that the landlord won't be renewing the leases for CVS or Breve in a month or so. I don't know if CVS planned to stay, but word is that Breve wanted to.

I imagine this is being done so they can mothball the building without requiring on-site security, etc.

Greg

Ideally CVS would open a full store elsewhere... plenty of space available! Breve, too.

STLrainbow wrote: ↑

May 08, 2017

Ideally CVS would open a full store elsewhere... plenty of space available! Breve, too.

I wish CVS would've signed on at the MX. There's always the former Woolworth space in the first level of the garage across the street from the MX, but I don't know what the (parking) lease situation is there. Breve will have lots of options. They used to be in St. Louis Centre and in the space where Park Avenue Coffee now is.

STLrainbow wrote: ↑

May 08, 2017

Ideally CVS would open a full store elsewhere... plenty of space available! Breve, too.

No plans to open another Breve (recall there was one up on 10th where Park Ave. is, years ago). The employees are looking for other jobs - they wished they had known earlier to try to get on at the new Kaldi's.

STLrainbow wrote: ↑

May 08, 2017

Ideally CVS would open a full store elsewhere... plenty of space available! Breve, too.

I never even knew there was a CVS downtown. Too late now I guess

^ think of it as a CVS - Extremely Light

Flew through St Louis last night..It really sucks seeing this building pitch dark. It is very noticeable. Are there any plans for multi-tenant renovation?

I can't help but think the ATT one center would be a good fit for Boeing to consolidate some of its operations. I doubt most Boeing employees would think so as I assume most live West County and or in St. Charles county as well as desiring park free situation. But talk about nice kick to have 2000 to 3000 Boeing defense admin, tech and engineers downtown with Boeing sign on top

Chalupas54 wrote: ↑

May 09, 2017

Flew through St Louis last night..It really sucks seeing this building pitch dark. It is very noticeable. Are there any plans for multi-tenant renovation?

I believe at this point they are exploring how to do that. But my guess is it'll still need an anchor tenant taking up a big chunk to make it work.

STLrainbow wrote: ↑

May 09, 2017

Chalupas54 wrote: ↑

May 09, 2017

Flew through St Louis last night..It really sucks seeing this building pitch dark. It is very noticeable. Are there any plans for multi-tenant renovation?

I believe at this point they are exploring how to do that. But my guess is it'll still need an anchor tenant taking up a big chunk to make it work.

Makes you wonder why they didn't begin exploring options for the building years ago.

dredger wrote: ↑

May 09, 2017

I can't help but think the ATT one center would be a good fit for Boeing to consolidate some of its operations. I doubt most Boeing employees would think so as I assume most live West County and or in St. Charles county as well as desiring park free situation. But talk about nice kick to have 2000 to 3000 Boeing defense admin, tech and engineers downtown with Boeing sign on top

I can't see them moving to a new building downtown when they are going to have unused buildings on their campus. That wouldn't make a whole lot of sense in my mind.

^ Agree that is one way to look at it. Another way is Boeing might see value in having their workforce in one building, or value in having flexibility of a lease instead of ownership, or maybe they see a cost they can bring down by consolidating location instead of a multi building campus with some years on it.. ATT One center is empty because ATT themselves got rid off/sold off a lot of office real estate. You could also ask why has Monsanto decided to consolidate andi spend money on Chesterfield campus when they could have easily kept the separate research and CC admin campuses going at end of day

I think large companies look at office as a commodity with a straight up cost relative to say their industrial infrastructure and or production facilities. Office real estate for the most part is another cost that can be moved around, whether you keep maintain a multi building campus or sell it off & sign up a lease at another location or developer. The value to Boeing is who is working in the campus and what their tasks area. .So my selling point to Boeing is if you want to consolidate employees into one place their is a big building downtown that offers a elevator ride away between departments.

..

dredger wrote:^ Agree that is one way to look at it. Another way is Boeing might see value in having their workforce in one building, or value in having flexibility of a lease instead of ownership, or maybe they see a cost they can bring down by consolidating location instead of a multi building campus with some years on it.. ATT One center is empty because ATT themselves got rid off/sold off a lot of office real estate. You could also ask why has Monsanto decided to consolidate andi spend money on Chesterfield campus when they could have easily kept the separate research and CC admin campuses going at end of day

I think large companies look at office as a commodity with a straight up cost relative to say their industrial infrastructure and or production facilities. Office real estate for the most part is another cost that can be moved around, whether you keep maintain a multi building campus or sell it off & sign up a lease at another location or developer. The value to Boeing is who is working in the campus and what their tasks area. .So my selling point to Boeing is if you want to consolidate employees into one place their is a big building downtown that offers a elevator ride away between departments.

..

Many Boeing departments would want to be located close to manufacturing. I suppose support organizations or projects that are primarily software could consider moving there. Would it be cheaper than the giant Blue Zoo near Boeing?



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^ good point, I have no idea what being close entails in the world of Boeing or what those needs are.. I can say that I manage east coast/gulf coast projects from a west coast office because technology is pretty darn good at giving unlimited communication options yet collect a fair share of frequent flyer miles because technology gets only so far. So see it both ways. Nice to be next door sometimes but not necessary for a lot of my tasks.

Just scratching my head. I think the consensus on the blog is that corporate relocation to downtown would be good for the region as a whole. Boeing is probably one of the few companies in the region with a big enough employee base to take on a significant lease downtown and still maintain the bulk of its operations where it is at. Yet the responses to my idea is why it wouldn't work. Would it happen? Doubt it and the biggest reason IMO is most of its workface when asked would say no thanks

In Today's BJ:

- All remaining employees still in the tower will relocate to ONE AT&T Center (909 Chestenut) by the end of the month. (the lease runs through September
- $420k invested in removing 3 sky bridges set to come down this summer
- $4mill invested in 801 Chestnut, a major At&t data center
- $18million invested in 1010 Pine to house their regional IT employees

AT&T has 10k employees state wide, down from 11k 3 years ago.

moorlander wrote: ↑

Jun 16, 2017

In Today's BJ:

- All remaining employees still in the tower will relocate to ONE AT&T Center (909 Chestenut) by the end of the month. (the lease runs through September
- $420k invested in removing 3 sky bridges set to come down this summer
- $4mill invested in 801 Chestnut, a major At&t data center
- $18million invested in 1010 Pine to house their regional IT employees

AT&T has 10k employees state wide, down from 11k 3 years ago.

Don't two of the sky bridges link 801 Chestnut to 1010 Pine through the ONE AT&T Center (909 Chestnut)? And the 3rd one ties 1010 Pine to a parking garage? Why the rush to spend the money to destroy them and force employees out into the streets to reach their cars?

gary kreie wrote: ↑

Jun 16, 2017

moorlander wrote: ↑

Jun 16, 2017

In Today's BJ:

- All remaining employees still in the tower, ONE AT&T Center, (909 Chestnut) by the end of the month. (the lease runs through September
- $420k invested in removing (2 of 3) sky bridges set to come down this summer
- $4mill invested in 801 Chestnut, a major At&t data center
- $18million invested in 1010 Pine to house their regional IT employees

AT&T has 10k employees state wide, down from 11k 3 years ago.

Don't two of the sky bridges link 801 Chestnut to 1010 Pine through the ONE AT&T Center (909 Chestnut)? And the 3rd one ties 1010 Pine to a parking garage? Why the rush to spend the money to destroy them and force employees out into the streets to reach their cars?

EDIT: there are 3 total sky bridges connecting the 3 buildings and the parking garage. The bridge connecting 1010 Pine to the parking garage is staying. My bet is AT&T owns the other 2 buildings and the garage and wants to cut ties with 909 Chestnut. It's likely a security concern. Plus don't urbanites hate skybridges?!