urbanSTL

According to this behind the paywall article, the AT&T tower has been sold, but the buyer and price is not publicly known.

https://www.bizjournals.com/stlouis/new ... ins-a.html

Nothing notable in the article beyond the headline.

Glad to hear it!

https://www.stltoday.com/business/local ... 66fec.html

^ Potential buyer is Larry Chapman of CRG, but CRG's still not sure they'll be able to close. 

-RBB

That’s the complicated part. The bond holders are holding up the process but I believe Clayco will have the building in the end

So... several months of nonsense and waiting just for Clayco to take the building? Why?

Say you bought your home for $1,000,000 10 years ago. You decided last year that you wanted to sell it. No one offered you money with the exception of myself, who offered you $100K. Would you wait out the market for a bit to make sure that was the best offer? Something makes me think you would 

Well, I think we all (including the owners) knew it was still going to sell for pennies.  I haven't seen what it actually sold for at auction, but it was professionally appraised, and Clayco offered them exactly that.

I just think it's quite optimistic of them to think they should be getting more than the last 2018 appraisal.  There is no attractive incentive for a company to move Downtown, especially when it is in the condition it's in.  Just feels like senseless feet dragging is all, but yes, I get why they would try for more money, but seemed pretty futile IMO.

^ and ^^ agreed to all.

Has there been any update on this, I have heard that there is some type of work going on on the inside of the building

At night I have seen more interior lights on

At one time there was a small CVS in the AT&T building.  Than the AT&T building vacated and there went the CVS.
It is time that CVS/Walgreens came back to downtown!

I’m in Dallas on biz right now.  I was thinking that the AT&T tower would really become our signature tower if it were to be lit up like the Bank of America Tower in Dallas. Obviously Green would probably not be the color, but similar lighting of the building would be really cool. I know lighting was discussed in previous posts. Just a thought.

DogtownBnR wrote: I’m in Dallas on biz right now.  I was thinking that the AT&T tower would really become our signature tower if it were to be lit up like the Bank of America Tower in Dallas. Obviously Green would probably not be the color, but similar lighting of the building would be really cool. I know lighting was discussed in previous posts. Just a thought.

It isn't always green.  The color of the BofA tower lighting changes.  But whatever color it is, that outline lighting looks very dated.

I was thinking something more like this for the top of the ATT building, minus the slanty bits:



Or maybe this:

I will point out once again that today's dated is tomorrow's classic. (And today's hip is tomorrow's dated. Just for the record.) It's a good building. It does not need an "update." It needs cleaning and occupancy. Losing that godawful globe was a good step. Good lighting, however, is always a winner. And there are plenty of neat potential spots there. (That a firm I used to work for might at one time have lit.)

^Yep. Don't mess with the building itself; but the top is a natural for some (restrained) lighting. 

^I really regret that I wasn't aboard when we did the lighting there as I would really love to have crawled around on the exterior of the crown. (And I should specify that I think all we did was maintain the Skytrackers. Well, install and maintain. But I believe they were where I would want to be: all the way on top.)

Word on the street is that AT&T is going to stop leasing its complex in Des Peres and the employees will be moved elsewhere. The only real facility for them will be downtown at 1010 Pine and 801 Chestnut. I suspect that many if not most of the employees who switch official office locations will either continue or begin to work from home. But there should be at least some bump in the number of employees downtown.

bprop wrote: Word on the street is that AT&T is going to stop leasing its complex in Des Peres and the employees will be moved elsewhere. The only real facility for them will be downtown at 1010 Pine and 801 Chestnut. I suspect that many if not most of the employees who switch official office locations will either continue or begin to work from home. But there should be at least some bump in the number of employees downtown.

How full are their two remaining buildings?  Meaning are there actual vacant floors, or just a lot of inefficient space?

For what its worth.  My wife was able to transfer her ATT job to the northern California regional office in San Ramon when we moved out to the Bay Area a few years ago.  ATT sold their large office complex in San Ramon back to the developer about same time ATT center was sold in St. Louis.  ATT leased back a much smaller footprint and went with shared work spaces where employees have to reserve a spot instead of having a set office/cubicle.  They have also had her work much more from the office now versus several years of mostly telecommuting from home.

A lot of change since the days that she had a cubicle on the thirtyish floor in ATT One Center looking out over north St louis.  

Here's a pipedream for ya.  Someone buys and renovates the tower, AT&T consolidates their offices into leased space in updated tower, and then vacates the old Bell building so it can be converted to residential using historic tax credits. 

urbanitas wrote:

bprop wrote: Word on the street is that AT&T is going to stop leasing its complex in Des Peres and the employees will be moved elsewhere. The only real facility for them will be downtown at 1010 Pine and 801 Chestnut. I suspect that many if not most of the employees who switch official office locations will either continue or begin to work from home. But there should be at least some bump in the number of employees downtown.

How full are their two remaining buildings?  Meaning are there actual vacant floors, or just a lot of inefficient space?

There are vacant floors in 1010 but they mostly floors 20 and above which are quite small as the building is stepped back as it goes higher. I believe there is another larger floor in the middle that was only partially renovated and mostly vacant now, though it's not closed off and some people do use some older workstations that were left there. There isn't much inefficient space in 1010 and it gets pretty crowded some days.  As someone mentioned, people who do not have a full time office and who want a workstation have to reserve the spot, and it can be hard to find an empty spot on busy days.

The data center is quite full as well. I would not say there's inefficient use of space there either.