^ good stuff.... I think we have maybe a half dozen or so t-rex grads now leasing elsewhere downtown?
^^ I also see former t-rexer Juristat also just moved into the Curlee Building.
The Post recently had a Commercial Real Estate Notes article that included the following from a Commercial Broker at Balke Brown Transwestern:
While Metro moving from Laclede's Landing closer to OPO Plaza (assumedly) is something of a wash for downtown, it could still be a boost to job consolidation in the downtown core. Living on the Landing might not appeal to most, but I think those old cast iron warehouses, like the one Metro is currently in, could make for a great residential conversion. While 100,000 sq. ft. wouldn't be enough to keep the lights on in the AT&T building, it could be an major tenant for any of the other downtown core office buildings.Metro is currently considering a move to more than 100,000 square feet in a “traditional” office tower downtown, as opposed to their current “untraditional” office facility on Laclede’s Landing. The combination of residential conversion and a Metro relocation would result in a significant positive absorption for the CBD.
Correction: That was actually from the Business Journal Commercial real estate update.
Would love to see Metro as the anchor tenant for the previously proposed Municipal Courts Building redevelopment (which is about 160,000 sq.ft.). It's not the "traditional" office space they're apparently considering, but still seems appropriate for a major civic institution like Metro. Plus it's across the street from the largest transit center in the region.
Would love to see Metro as the anchor tenant for the previously proposed Municipal Courts Building redevelopment (which is about 160,000 sq.ft.). It's not the "traditional" office space they're apparently considering, but still seems appropriate for a major civic institution like Metro. Plus it's across the street from the largest transit center in the region.
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Stewart Title will be moving to 500 N Broadway and take up floors 8 and 9. Leaving the building across the street from Union station.
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although just puddle jumping, I think that is a good move.... we really need to load up our CBD with as much foot traffic as possible.dbInSouthCity wrote:Stewart Title will be moving to 500 N Broadway and take up floors 8 and 9. Leaving the building across the street from Union station.
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^ whew! 500 N. Broadway seems to be doing pretty well with its turn-around, btw. Hopefully work on the National Blues Museum will get going and add even more to the general M/X area.... oh, and something neat into 500 Washington!
I thought 500 Washington was 100% Stifel Nicholas and that none of the street fronting space was going to be offered as retail. I might be wrong though.roger wyoming II wrote:oh, and something neat into 500 Washington!
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my bad.... I meant the mid-modern across the street -- 501 Washington?
Thanks for posting.... yes, move to the core CBD, Metro! A building that could really use some help is Met Square as its taken a number of hits in recent years. I believe a residential conversion would be great for the current building... in time I can see the Landing as a really cool neighborhood with a mix of new infill and old world charm.wabash wrote: [Biz Journal] recently had a Commercial Real Estate Notes article that included the following from a Commercial Broker at Balke Brown Transwestern:
While Metro moving from Laclede's Landing closer to OPO Plaza (assumedly) is something of a wash for downtown, it could still be a boost to job consolidation in the downtown core. Living on the Landing might not appeal to most, but I think those old cast iron warehouses, like the one Metro is currently in, could make for a great residential conversion. While 100,000 sq. ft. wouldn't be enough to keep the lights on in the AT&T building, it could be an major tenant for any of the other downtown core office buildings.Metro is currently considering a move to more than 100,000 square feet in a “traditional” office tower downtown, as opposed to their current “untraditional” office facility on Laclede’s Landing. The combination of residential conversion and a Metro relocation would result in a significant positive absorption for the CBD.
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Stifel is at 501 N. Broadway; the little building Roger is referring to is 505 Washington - love that building.
Glad to hear about another tenant moving into 500 N. Broadway. Two full floors leased and additional workers at the core of the CBD? Yes, please.
Glad to hear about another tenant moving into 500 N. Broadway. Two full floors leased and additional workers at the core of the CBD? Yes, please.
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My source (gf that works for Stewart) says they are planning on leasing the signage space at the top of the building. (Also expending work force in next 12-18 months) they will have 200+ right now.
As part of the presentation to employees they showed them a map with distances to places they can eat lunch, buy things, sights to see ect
As part of the presentation to employees they showed them a map with distances to places they can eat lunch, buy things, sights to see ect
The Municipal Courts building would be perfect for Metro. Much better than the Met Square building.wabash wrote:Correction: That was actually from the Business Journal Commercial real estate update.
Would love to see Metro as the anchor tenant for the previously proposed Municipal Courts Building redevelopment (which is about 160,000 sq.ft.). It's not the "traditional" office space they're apparently considering, but still seems appropriate for a major civic institution like Metro. Plus it's across the street from the largest transit center in the region.
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I'd probably rather see tenants like Metro fill existing office space before new space is developed.stlien wrote:The Municipal Courts building would be perfect for Metro. Much better than the Met Square building.wabash wrote:Correction: That was actually from the Business Journal Commercial real estate update.
Would love to see Metro as the anchor tenant for the previously proposed Municipal Courts Building redevelopment (which is about 160,000 sq.ft.). It's not the "traditional" office space they're apparently considering, but still seems appropriate for a major civic institution like Metro. Plus it's across the street from the largest transit center in the region.
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^ I tend to agree, filling up the towers and other existing CBD office space with as many office workers as possible seems to me to be Job #1 with our spatial priorities. We've lost thousands in that core and it has impacted foot traffic a lot. (And tax rolls.)
Having said that, if a key historic is going to have trouble being re-activated with other users, moving a government agency may make sense.... I'm not sure if that's the case here though.
Having said that, if a key historic is going to have trouble being re-activated with other users, moving a government agency may make sense.... I'm not sure if that's the case here though.
Why? Met Square and other buildings aren't going anywhere. Where as the HTC's are always under fire by MO leg. And I bet that if the cap gets reduced to $50 million statewide, then projects like the Municipal Courts won't happen. Look at Laclede, they're moving to a new building and creating jobs (through construction) in process and 720 Olive will live on. I'd rather see Metro move to where they will make the most impact.debaliviere wrote:
I'd probably rather see tenants like Metro fill existing office space before new space is developed.
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^ Low occupancy in those central office towers means greatly reduced foot traffic in a dense area. Filling them up will bring more retail and vibrancy. It might not seem like a big deal when Laclede Gas moves a couple hundred workers a few blocks to SoMa or someone choose the Civic Center area over the CBD, but our dispersal of office workers from the core of the core really does diminish the foot traffic counts that businesses need to survive. I agree we have to weigh that against the prospects of failing to put key historics outside this core back into play.
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I REALLY REALLY like the idea of Metro in the Muni Courts Building. Close to Civic Center stop as well makes it all the more appropriate.
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True, not to mention that there is no need to add additional inventory to an office market that's already flooded with vacant space.roger wyoming II wrote:^ Low occupancy in those central office towers means greatly reduced foot traffic in a dense area. Filling them up will bring more retail and vibrancy. It might not seem like a big deal when Laclede Gas moves a couple hundred workers a few blocks to SoMa or someone choose the Civic Center area over the CBD, but our dispersal of office workers from the core of the core really does diminish the foot traffic counts that businesses need to survive. I agree we have to weigh that against the prospects of failing to put key historics outside this core back into play.
You mentioned 505 Washington the other day - Metro would be a great tenant for that building. 600 Washington and 705 Olive would work as well. They also would've been a good tenant to fill some of the space Laclede Gas is vacating, but I guess it's unclear as to how much of that building will remain dedicated to office space.
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^ Yes, 505 Washington! Let's seal the deal!
Good question on 720 Olive... I suppose if the remaining tenants remain there may not be a whole lot of vacancy to absorb. I also wonder what the Union Trust owners have in mind, especially after the loss of Anders.... I could see that one going residential as well. Just as long as they restore the rooftop beer garden I'm good with any plans.
Good question on 720 Olive... I suppose if the remaining tenants remain there may not be a whole lot of vacancy to absorb. I also wonder what the Union Trust owners have in mind, especially after the loss of Anders.... I could see that one going residential as well. Just as long as they restore the rooftop beer garden I'm good with any plans.
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Oops, I forgot that Metro is looking for 100,000 sf - 505 Washington would be too small. 600 Washington would work. Met Square has a lot of vacant space, but it's not contiguous.
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So its interesting to me that if given the choice between adding density it the core of the central business district (Met Square, 720 Olive, or some other) or reviving a long unused and very notable civic institutional building close to but not in the heart of the CBD (Muni Courts), many would choose the former over the latter. Both have strong transit connections and lets assume for the sake of the comparison the cost per square foot difference is negligible.
To me I would go the other way. If Metro took up the top 3 floors of Muni Courts ~ 120,000 sqft and as proposed in the previously released rendering restaurants/retail were built into the West face of Muni Courts it would almost fill the building to capacity.
I realize the CBD needs tenants too but its seems like there are many more opportunities to find tenants, either residential or traditional office tenants. The Muni Courts building isn't as versatile IMHO.
To me I would go the other way. If Metro took up the top 3 floors of Muni Courts ~ 120,000 sqft and as proposed in the previously released rendering restaurants/retail were built into the West face of Muni Courts it would almost fill the building to capacity.
I realize the CBD needs tenants too but its seems like there are many more opportunities to find tenants, either residential or traditional office tenants. The Muni Courts building isn't as versatile IMHO.
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^ I think its a great question and I'm torn. On the one hand we need to saturate the core cbd if we're ever going to get the kind of retail & vitality that we all want but on the other a govt. agency such as Metro might be one of the few opportunities to activate an important historic building as creative office space. While I might be lean a tad towards the core CBD in this instance I'd be happy with either and believe both would be better than Metro's current spot.
(On the subject of being in the heart of the CBD or just outside it, walking from the Muni Courts to the core CBD requires crossing both Tucker & Market in a sucky pedestrian environment.... depending on signals that could be a few minutes and then once crossed it takes a few more blocks before hitting any density of restaurants, shops, etc.. upper Wash Ave. probably would fare better.)
(On the subject of being in the heart of the CBD or just outside it, walking from the Muni Courts to the core CBD requires crossing both Tucker & Market in a sucky pedestrian environment.... depending on signals that could be a few minutes and then once crossed it takes a few more blocks before hitting any density of restaurants, shops, etc.. upper Wash Ave. probably would fare better.)
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I would not mind if metro to Move to the Union Trust building. I also that building could use a good facade cleaningroger wyoming II wrote:^ Yes, 505 Washington! Let's seal the deal!
Good question on 720 Olive... I suppose if the remaining tenants remain there may not be a whole lot of vacancy to absorb. I also wonder what the Union Trust owners have in mind, especially after the loss of Anders.... I could see that one going residential as well. Just as long as they restore the rooftop beer garden I'm good with any plans.
