^Just for statistics sake, Skyscraper Page lists the Commerce Tower at 40,698 square meters, while ATT has 130,000.
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Great comment in this article.
“I wish our broader corporate community would weigh more carefully in their decisions the importance of a strong downtown,” he said
http://www.stltoday.com/business/column ... cca25.html
“I wish our broader corporate community would weigh more carefully in their decisions the importance of a strong downtown,” he said
http://www.stltoday.com/business/column ... cca25.html
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it should be redeveloped as apartments + condos. DT's residential population continues to increase --> DT becomes a more desirable location for office space --> we get some new class A towers. AT&T is gorgeous and residential there would sell in a heartbeat.
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Agreeurban_dilettante wrote:it should be redeveloped as apartments + condos. DT's residential population continues to increase --> DT becomes a more desirable location for office space --> we get some new class A towers. AT&T is gorgeous and residential there would sell in a heartbeat.
Agree
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I think there would be room for a hotel in addition to apartments. The lobby area with its retail nodes could be easily re-used by a hotel. There would probably also be room for some office space, which I think would be quite attractive for law firms (close to the courts) or as overflow space for Laclede (they will need more space than what Gen Am building provides) and Peabody (they already have space in Met Square in addition to their HQ).urban_dilettante wrote:it should be redeveloped as apartments + condos. DT's residential population continues to increase --> DT becomes a more desirable location for office space --> we get some new class A towers. AT&T is gorgeous and residential there would sell in a heartbeat.
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So did AT&T left one bell center yet and has AT&T been moving workers to there other two buildings downtown?
What is the deal with the AT&T Data Center building does any one work it or it is just computers and severs?
What is the deal with the AT&T Data Center building does any one work it or it is just computers and severs?
^ My wife got her stuff this past week out of ATT's regional office in San Ramon, CA that they sold back to the developer. That office will much much smaller very soon. She is going to be full time telecommuter. Its odd out here in the Bay Area, tech companies are expanding office space and number of employees by leaps and bounds where as my employer in the construction business went lean at our corporate office and ATT is going more and more the telecommuting route as so much of its development is done through third party vendors/outsources.
You can see that play out in St. Louis in next year or two. ATT One center is about to go empty, BPV & Bottleworks will struggle to find anchor tenants to get an office tower off the ground while CORTEX IV is proposal to put in 500,000 square feet of new space and BJC/Wash U campus continues to expand. In the long run it will work out.
You can see that play out in St. Louis in next year or two. ATT One center is about to go empty, BPV & Bottleworks will struggle to find anchor tenants to get an office tower off the ground while CORTEX IV is proposal to put in 500,000 square feet of new space and BJC/Wash U campus continues to expand. In the long run it will work out.
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Part of the big problem with the AT&T tower is that any company that wants to make a major commitment to new space will just as easily choose new construction that features more flexible co-working space, etc. that is the trend these days.
I'm still incredibly upset at GSA for moving Veterans out of downtown.... they could probably buy it at a bargain price and consolidate there. Moving out to transit poor Page Avenue is incredibly frustrating.
I'm still incredibly upset at GSA for moving Veterans out of downtown.... they could probably buy it at a bargain price and consolidate there. Moving out to transit poor Page Avenue is incredibly frustrating.
^Couldn't agree more. That's a really frustrating move.
A huge government agency like the VA would really be one of the only logical tenants for this hulking building.
The AT&T is 3.5x the size of Stifel's headquarters (435,000 sq.ft.), 6.5x Peabody Energy's headquarters (215,000 sq.ft.), 8x Energizer's headquarters (168,000), 10x Laclede Group's new headquarters (128,500 sq.ft), and 45x Post Holding's headquarters (30,000 sq.ft.).
If Post wanted to more than double there space they could move to the top four floors of 1010 Market (which are available), and get naming rights on the building. They could quadruple their space (and also get naming rights) by moving into the space being left behind by Laclede Group in the Laclede Gas Building.
The world headquarters of J.P.Morgan Chase, the largest bank in the U.S. is only 1.2million sq.ft. 86% the size of the AT&T building.
Basically, AT&T just doesn't make a lot of sense, even as an HQ for most major corporations.
A huge government agency like the VA would really be one of the only logical tenants for this hulking building.
The AT&T is 3.5x the size of Stifel's headquarters (435,000 sq.ft.), 6.5x Peabody Energy's headquarters (215,000 sq.ft.), 8x Energizer's headquarters (168,000), 10x Laclede Group's new headquarters (128,500 sq.ft), and 45x Post Holding's headquarters (30,000 sq.ft.).
If Post wanted to more than double there space they could move to the top four floors of 1010 Market (which are available), and get naming rights on the building. They could quadruple their space (and also get naming rights) by moving into the space being left behind by Laclede Group in the Laclede Gas Building.
The world headquarters of J.P.Morgan Chase, the largest bank in the U.S. is only 1.2million sq.ft. 86% the size of the AT&T building.
Basically, AT&T just doesn't make a lot of sense, even as an HQ for most major corporations.
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At least AT&T been taking good care of the old SBC building and now sky bridges can go. But I feel AT&T should of moved out of the old sbc building and moved everything to one bell center (maybe the jobs in the county too). The old SBC building can be sold off to developers and can be come a cool mixed used building with retail on the first floor offices on the next 3 or 4 and the rest residential. I believe the old building also has an underground parking too.
Bittersweet news.
-Office vacancies are down in the metro despite AT&T's move from One AT&T Center.
-Downtown absorption is good, but AT&T vacancy will cause downtown vacancy rate to creep a little higher from 11.6 to 12.7
-Leasing activity is expected to increase in the region.
-Office vacancies are down in the metro despite AT&T's move from One AT&T Center.
-Downtown absorption is good, but AT&T vacancy will cause downtown vacancy rate to creep a little higher from 11.6 to 12.7
-Leasing activity is expected to increase in the region.
See more at: Colliers (04/25/14) report: St. Louis CBD still recovering from AT&T moveHow big of an impact can one company have on a submarket’s vacancy rate? It depends on the size of the company. And in downtown St. Louis, few companies had as a big presence as AT&T. So when the communications giant moved from One AT&T Center in the heart of the downtown St. Louis CBD, it left a big hole.
As Colliers International reported in its most recent St. Louis office report, AT&T’s move from downtown caused the office vacancy rate in the city’s CBD to jump from 11.6 percent in the fourth quarter of 2013 to 12.7 percent in the first quarter of this year. But here’s the surprising part: The St. Louis region’s overall office vacancy stayed relatively flat on a year-over-year basis despite AT&T’s move. This rate stood at 12.6 percent at the end of the first quarter of 2013. At the end of the first quarter of this year, that number had risen only slightly to get to 12.7 percent.
And Colliers has good news for brokers working the St. Louis market: It expects office leasing activity to pick up throughout the rest of 2014 and into 2015 as economic conditions in the region and the nation continue to improve. AT&T moved its employees from the 44-story One AT&T Center on 900-928 Pine Street in downtown St. Louis to other properties across the St. Louis region, vacating about 700,000 square feet of office space in the heart of downtown.
AT&T officials made the move in part because many of its employees were now working from home or remotely and it no longer needed as much central office space.
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^ that 12.7 figure is the regional vacancy rate.... CBD's sky rocketed with AT&T loss and exceeds 20%. Collier's did report though that rental rates have climbed in the CBD and expects positive absorption for the remainder of the year.
Hopefully this is rock bottom for downtown office and we'll have at least a slow but steady increase in occupancy and, more importantly, jobs.
Hopefully this is rock bottom for downtown office and we'll have at least a slow but steady increase in occupancy and, more importantly, jobs.
Kinda contradicting.
I suppose the guy who wrote the posted/linked RE Midwest article somehow got his numbers crossed - even though he used Colliers.
The article was posted today 04/25/14 at RE Midwest and that excerpt/quote is from the article.
I suppose the guy who wrote the posted/linked RE Midwest article somehow got his numbers crossed - even though he used Colliers.
The article was posted today 04/25/14 at RE Midwest and that excerpt/quote is from the article.
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^ yeah, RE Midwest got mixed up there. ... it was pretty much the verbatim summary of the actual report but the sub headline was wrong.
I work in this building and got some info. Nothing groundbreaking but the lease ends in 2017. The company will be transtioning employees out of the building from mid-2015 through 2016. That being said, and has been reported, the occupancy rate in the building has dropped dramatically in the last year or two, but mostly by attrition and a relaxed work from home policy.
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When you say out of the building do you know if they are moving next door or out of downtown?sethslu1 wrote:I work in this building and got some info. Nothing groundbreaking but the lease ends in 2017. The company will be transtioning employees out of the building from mid-2015 through 2016. That being said, and has been reported, the occupancy rate in the building has dropped dramatically in the last year or two, but mostly by attrition and a relaxed work from home policy.
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At&t towers at night just reek abandoned.. Theres a few lights that are on but that whole complex would look so much better if they were lit up at night specially the tallest..
Considering that AT&T disabled about 1 out of every 3 lights in the work areas in roughly 2005 to save money, I don't expect this to happen anytime soon.BrickCity4470 wrote:At&t towers at night just reek abandoned.. Theres a few lights that are on but that whole complex would look so much better if they were lit up at night specially the tallest..
Greg
1010 Pine is a central office facility, so it will never be sold off to developers. This is why ATT is doing exactly the 180-degree opposite of what you feel. All three bulidings have some underground parking, but not much.seanmcelligott644 wrote:At least AT&T been taking good care of the old SBC building and now sky bridges can go. But I feel AT&T should of moved out of the old sbc building and moved everything to one bell center (maybe the jobs in the county too). The old SBC building can be sold off to developers and can be come a cool mixed used building with retail on the first floor offices on the next 3 or 4 and the rest residential. I believe the old building also has an underground parking too.
The people I used to work with said it's both, but mostly out of downtown to Des Peres.bigmclargehuge wrote:When you say out of the building do you know if they are moving next door or out of downtown?sethslu1 wrote:I work in this building and got some info. Nothing groundbreaking but the lease ends in 2017. The company will be transtioning employees out of the building from mid-2015 through 2016. That being said, and has been reported, the occupancy rate in the building has dropped dramatically in the last year or two, but mostly by attrition and a relaxed work from home policy.
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1010 really is a grand building.... more beautiful than the Pacific Rail Building imo. I agree with sean that it would have been nice if the transitioning could have gone into One ATT Center as one can easily see residential there; but on the other hand if all of the transitioning results in a pretty full 1010 Pine and an empty One Center that lures a big move from a newcomer that would be the best outcome of all.bprop wrote:1010 Pine is a central office facility, so it will never be sold off to developers. This is why ATT is doing exactly the 180-degree opposite of what you feel. All three bulidings have some underground parking, but not much.seanmcelligott644 wrote:At least AT&T been taking good care of the old SBC building and now sky bridges can go. But I feel AT&T should of moved out of the old sbc building and moved everything to one bell center (maybe the jobs in the county too). The old SBC building can be sold off to developers and can be come a cool mixed used building with retail on the first floor offices on the next 3 or 4 and the rest residential. I believe the old building also has an underground parking too.
Anyone know how this is going and how many might be moving to the other downtown buildings versus the burbs? I believe the move outs were supposed to be completed by the end of this year.
^ Roger, I wonder how much of this is also telecommuting? My wife, who works for ATT and whose office at one time was at One ATT Center before we moved, is now a completely different situation as far as a physical presence since she spends most of her time working from home. She no longer has an assigned cubicle in the ATT San Ramon's Northern California office. Instead, they downsized on space, remodeled what space they kept, ditched the cafeteria and now provide work stations for those who come in for a day here and there as in her case.
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This is not gospel, but I did have a chat with an AT&T worker outside One Center today and it seems like we may not be losing as many workers as once thought. A couple things he said,,,
-- there's still a fair amount of workers in One Center for the time being. He said originally they thought the lease was up this year but actually it goes until '17 so their not rushing things.
-- workers who are moving are getting sent to the historic building across the street. and that should be full once completed. He said the Manchester location really isn't an option.
-- in reference to what dredger mentioned about telecommuting, I'm not sure if I understood exactly what he was saying but it seems that they may have tightened up work-from-home arrangements or were finding as many aren't doing it as they thought there might be.
Anyway, it all sounded better than worst fears coming to pass. In an ideal world AT&T would have sold the historic building for a mixed-use project and moved everyone into One Center but it is what it is. And with the significant lead time, perhaps the owners will be able to come land something exciting.... miracles happen!
-- there's still a fair amount of workers in One Center for the time being. He said originally they thought the lease was up this year but actually it goes until '17 so their not rushing things.
-- workers who are moving are getting sent to the historic building across the street. and that should be full once completed. He said the Manchester location really isn't an option.
-- in reference to what dredger mentioned about telecommuting, I'm not sure if I understood exactly what he was saying but it seems that they may have tightened up work-from-home arrangements or were finding as many aren't doing it as they thought there might be.
Anyway, it all sounded better than worst fears coming to pass. In an ideal world AT&T would have sold the historic building for a mixed-use project and moved everyone into One Center but it is what it is. And with the significant lead time, perhaps the owners will be able to come land something exciting.... miracles happen!