Friday, September 12, 2008
Stifel, Polsinelli join Ballpark Village lineup
St. Louis Business Journal - by Lisa R. Brown
Ballpark Village developers are in final lease negotiations to sign two of the largest office tenants in the market for new space: brokerage and investment-banking firm Stifel Financial Corp. and law firm Polsinelli Shalton Flanigan Suelthaus.
The pending leases signal a major coup for the stalled $600 million office, entertainment and retail development and a win for downtown St. Louis, which has been hit hard in recent months with canceled development projects and jobs moving out of the central business district.
Stifel, parent company of Stifel, Nicolaus & Co., has reached terms with Ballpark Village’s developers, Baltimore-based Cordish Co. and the St. Louis Cardinals. Stifel is working on a building design for between 150,000 and 175,000 square feet of space, which will house its headquarters. The firm, led by CEO Ron Kruszewski, is currently located at 501 N. Broadway downtown and plans to move to Ballpark Village in spring 2011. The company met with architects this week for build-out designs for the space.
Kansas City-based Polsinelli, which has more than 300 attorneys in eight cities, including Kansas City, St. Louis, Chicago, New York, and Washington, D.C., plans to consolidate a downtown office and a Clayton office and lease between 90,000 to 110,000 square feet at Ballpark Village, contingent on the project moving forward soon. “We’re in serious discussions,” firm Chairman and CEO Russell Welsh said Sept. 9. “We are trying to get comfortable with the terms and the timing.”
Polsinelli’s lease at 100 S. Fourth St. downtown expires in late 2010. Its lease in Clayton expires in spring 2011. At the two offices, Polsinelli has about 100 licensed attorneys and 60 support staff.
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