Whats the difference between "Nestle employees" vs "Nestle Purina employees"? Are either of these employees coming from their current HQ building?arr1274 wrote:I have clarification on my earlier post of 400 people moving from the Nestle Purina HQ to 100 N Broadway. It's actually 390 Nestle employees, not Nestle Purina employees. They will be taking three floors in the building.
Nestle employees work for Nestle, not Nestle Purina. These Nestle employees are coming from the Nestle Purina HQ, but it sounds like some Nestle Purina employees are moving too. Someone mentioned that a maximum of 200 people are moving from the Business Solutions Group, the employees I'm talking about are not part of the Business Solutions Group. So two different groups of employees at the Nestle Purina HQ are moving to 100 N Broadway. I hope that all makes sense.
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Back when Nestle Purina transitioned to the SAP software systems they did it in waves... and the Purina divisions were the first to move. So they hired a lot of Purina people on as Nestle Support as the rest of Nestle went live on SAP. So the nestle Divisions at Purina have been growing since they went live back in 2008-9. But those jobs are now all a part of the Business Solutions groups, which is a big piece of the 400 people moving.
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It was long before that when St. Louis (and America) began seeing transit as a poor-person welfare program. All the campaign did was remind people that poors are part of society.dbInSouthCity wrote:Transit here is seen as a the mode for those who can't afford a car and that's thanks to the last campaign for sales tax that CMT ran...I believe it went something like "sure you don't take transit but the guy making you coffee does"
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yeah, c'mon. that's just nonsense. it's not like the buses were overflowing with St. Louis' elite prior to CMT running those adds. St. Louisans have been averse to transit—especially buses—for decades.dbInSouthCity wrote:Transit here is seen as a the mode for those who can't afford a car and that's thanks to the last campaign for sales tax that CMT ran...I believe it went something like "sure you don't take transit but the guy making you coffee does"
The part of Nestle I'm talking about is called Nestle GLOBE, Inc., is that part of the Business Solutions groups?
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Looks like downtown Baltimore had a drop in employment last year with some thinking it may have been related to the April riots.... but in the square mile radius they use for their count they still say about 120,0000 workers are employed downtown, which is roughly the same size geography for what Downtown STL uses for its count of 80,000 jobs. (There are 42,000 residents as well.) Commercial occupancy was 16%.
http://www.bizjournals.com/baltimore/bl ... -more.html
I'll take it!
http://www.bizjournals.com/baltimore/bl ... -more.html
I'll take it!
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Bidding for 1010 Market closes in about 35 min and the current bid is $4.35M if you think new office building is coming to downtown anytime soon or in the next decade...you got some strong weed over there.
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It's surprising to me that some company doesn't just buy it for its headquarters. It could easily be cheaper than renting, especially with other tenants to offset the costs.dbInSouthCity wrote:Bidding for 1010 Market closes in about 35 min and the current bid is $4.35M if you think new office building is coming to downtown anytime soon or in the next decade...you got some strong weed over there.
They keep extending the bidding because they are getting a lot of last-minute bids. Current bid is $6.8 million.debaliviere wrote:It's surprising to me that some company doesn't just buy it for its headquarters. It could easily be cheaper than renting, especially with other tenants to offset the costs.dbInSouthCity wrote:Bidding for 1010 Market closes in about 35 min and the current bid is $4.35M if you think new office building is coming to downtown anytime soon or in the next decade...you got some strong weed over there.
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Goes down to 60 seconds and back to 4min for the last 35 min.
And its over, Sold for $7,675,000
According to city records it last sold in 2005 for $18,235,640
According to city records it last sold in 2005 for $18,235,640
^ Pretty bad, lost over 50% of its value in a decade. They may have gotten a bit more for it if they had a longer auction. Lots of bids coming in at the last minute.
Definitely an expensive endeavor. It'll be an uphill battle for the new owners for sure.
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I'm confident we'll see some new office space within the next decade absent another collapse in capital markets.... there will be hardly any vacant buildings by then and while the Class A towers may not all have high occupancy overall the submarket will continue to improve and eventually someone will want new construction.dbInSouthCity wrote:Bidding for 1010 Market closes in about 35 min and the current bid is $4.35M if you think new office building is coming to downtown anytime soon or in the next decade...you got some strong weed over there.
Watching KC enjoy numerous cranes and a new street car is unbearable.
Has anyone actually looked at the capital improvement funds that are invested in downtown?
It's close to nothing.
2 years ago they spent $35,000 on ONE drinking fountain in Lucas Park.
Want to know why our downtown isn't growing? Ask the aldermen.
I've seen disabled people get stuck in crosswalk potholes.
Has anyone actually looked at the capital improvement funds that are invested in downtown?
It's close to nothing.
2 years ago they spent $35,000 on ONE drinking fountain in Lucas Park.
Want to know why our downtown isn't growing? Ask the aldermen.
I've seen disabled people get stuck in crosswalk potholes.
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We're enjoying numerous cranes as well, they just a little more spread out. There'll be some cranes coming DT pretty soon.addxb2 wrote:Watching KC enjoy numerous cranes and a new street car is unbearable.
^ Urban, gut feeling or something to your comment? As far as cranes, some comments made about the surface lot to the east of Busch Stadium and supposed interest from Koman in Cupples lot as expressed by postings would certainly fit the bill for future construction requiring tower crane or two. Can certainly see Koman proposing a mixed use residential in the Cupples as an alternative to Wash Ave loft district once their Euclid project is underway.
1010 Market strikes me as something KMPG, if I go the initials right, might be interested in if they had teamed with new owner to develop. Plus they could be easily working on an incentive package to keep them downtown on one hand and working a lease deal for x dollars on y square feet over some many years meeting a criteria. New owner closes on 1010, they tweak lease deal to match the property and lease is signed.
The other thought as Debaliviere suggested, wonder if Taylor family/Enterprise ever had interest in putting some of their expanding footprint downtown? Enterprise IT center and or service center as the downtown lease price might be more enticing for their business model as more of the Clayton CBD becomes consolidated into a few owners getting the regions premium lease rates. 1010 Market street becomes a pretty good real estate deal for Entreprise on top of the incentives, abatements and such just as Stifel Nichols walked away from BPV and found their own deal.
But I can also see 1010 Market limp along if the new owner is a large real estate holding company outside of St. Louis. It might be just as much of a bet as anything else. As a large holding company Intends to buy/bid x number of properties (1010 being the one they so happen to secure) to go along with the y number of commercial space they sell with the sole intention of making monies off transactions instead of tenants. Tenants are nice, pay some bills, takes care of some maintenance but you get a feeling that some of these transactions are nothing more then buying low to sell high because a large pile of cash is looking to make an easier dollar on transactions.
I would like to think the glass is half full with a number of last minute buyers who might see an opportunity to fill the space.
1010 Market strikes me as something KMPG, if I go the initials right, might be interested in if they had teamed with new owner to develop. Plus they could be easily working on an incentive package to keep them downtown on one hand and working a lease deal for x dollars on y square feet over some many years meeting a criteria. New owner closes on 1010, they tweak lease deal to match the property and lease is signed.
The other thought as Debaliviere suggested, wonder if Taylor family/Enterprise ever had interest in putting some of their expanding footprint downtown? Enterprise IT center and or service center as the downtown lease price might be more enticing for their business model as more of the Clayton CBD becomes consolidated into a few owners getting the regions premium lease rates. 1010 Market street becomes a pretty good real estate deal for Entreprise on top of the incentives, abatements and such just as Stifel Nichols walked away from BPV and found their own deal.
But I can also see 1010 Market limp along if the new owner is a large real estate holding company outside of St. Louis. It might be just as much of a bet as anything else. As a large holding company Intends to buy/bid x number of properties (1010 being the one they so happen to secure) to go along with the y number of commercial space they sell with the sole intention of making monies off transactions instead of tenants. Tenants are nice, pay some bills, takes care of some maintenance but you get a feeling that some of these transactions are nothing more then buying low to sell high because a large pile of cash is looking to make an easier dollar on transactions.
I would like to think the glass is half full with a number of last minute buyers who might see an opportunity to fill the space.
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Awesome. I had overheard a conversation back in December between the technology officer (man in charge of the move) and his family and they were suggesting he move out west (T&C) so this is a welcome surprise indeed!
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dredger, i was referring to kb's comment from the BPV thread:dredger wrote:^ Urban, gut feeling or something to your comment?
not towers but i assume tall enough to require cranes.kbshapiro wrote:There will be two mixed use projects announced this year that are contiguous to BPV and Busch Stadium that I think you guys will like. These will be buildings, not towers to keep expectations at a reasonable level.
Not my position to disclose where and by whom but they're coming.
^ Thanks, assume that any mid rise will use a tower crane as well as it gets to be a pretty efficient job set up for construction with limited footprint on ground and reach over everything else.
Still hopefully waiting, maybe more of wishful thinking, that either Drury or DeWitt announce a residential and or hotel, or mixed tower for downtown.
Still hopefully waiting, maybe more of wishful thinking, that either Drury or DeWitt announce a residential and or hotel, or mixed tower for downtown.
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My limited understanding is that Cupples 10 will be west of the stadium and will be fantastic. The other project will be east of the stadium and will be alright. But I don't have confirmation on all of that.
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They're calling it Couples 10? I love it. Do you think the one east of the stadium will be at least as tall as Tums (5 stories)? That would be alright in my book. (By the way, where does that expression come from?)Presbyterian wrote:My limited understanding is that Cupples 10 will be west of the stadium and will be fantastic. The other project will be east of the stadium and will be alright. But I don't have confirmation on all of that.