Any news on the HQ moving from KY you mentioned a ways back?
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'We cannot continue to lose tenants and companies': Downtown office exits pile up as vacancy climbs’
https://www.bizjournals.com/stlouis/new ... limbs.html
https://www.bizjournals.com/stlouis/new ... limbs.html
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BREAKING: the post covid office realignment continues, downtown dallas is literally converting all class B and C office space in residentialdowntown2007 wrote: ↑Jul 14, 2022'We cannot continue to lose tenants and companies': Downtown office exits pile up as vacancy climbs’
https://www.bizjournals.com/stlouis/new ... limbs.html
the fact that we still have 82% of office space in downtown occupied means we have ways to go to get to about 60% which is what its going to be everywhere going forward.
18% vacancy is actually an improvement from 4th Qt2021 when it was 20%
The downtown vacancy number is driven largely by 1 huge elephant- AT&T building
The downtown vacancy number is driven largely by 1 huge elephant- AT&T building
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At least Brown & Crouppen stayed in the City instead of fleeing to the Burbs like the other companies mentioned. The City needs to work with developers to create office space outside of Downtown that might be attractive to companies that might otherwise go to Clayton.
I've always thought that the CWE should have much more office space than it does.
I guess Railway Exchange doesn't factor into that, huh? If not, most of it probably should, at least everything above the first 3 floors or so. It was office space for May Department Stores after all.dbInSouthCity wrote: ↑Jul 14, 202218% vacancy is actually an improvement from 4th Qt2021 when it was 20%
The downtown vacancy number is driven largely by 1 huge elephant- AT&T building
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Railway Exchange definitely plays a huge part in that. It's 1.2 million square feet.
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^ I think Tim may be getting at what is included as office inventory in this report... I think this Cushman report excludes vacant properties like RR/X and One AT&T that potentially may be brought back to active leasing but currently aren't. (Just some quick math but AT&T and RR/X should be 2M+ sq. ft. combined and the report says only 1.7M sq. ft. of direct leasing is available in the entire CBD market.)
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KSDK posted this article as well. The Facebook comments are embarrassing.
While most of the sane people were sleeping this morning, the 16,000 people beachbody summit conference attendees had a mass workout on Market
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It's easier to maintain lower vacancy when having lower total inventory for a market its size.dbInSouthCity wrote: ↑Jul 15, 2022
https://www.us.jll.com/content/dam/jll- ... utlook.pdf
The good news is that STL doesn't seem to be hit as hard from remote/hybrid workers and the low total inventory is an opportunity for more office construction.
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The office space may still be occupied but many (if not the majority) of office workers downtown are only in the office two days or less a week. That's a huge reduction of workers downtown on a daily basis to get lunch, coffee or go to happy hour.
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^ do you think we are special when it comes to that? Chicago has about 40% back in the office.
I talk to most of the restaurant owners in downtown, they're doing very well. Only one that's not doing great is one that just opened and doesn't have a liquor license yet.
Ballpark Village Salt & Smoke is their busiest and most profitable location, Rooster can't keep up, yesterday it had 100 people in line at 9:30am an hour and half after opening.
At lunch yesterday every restaurant was packed and majority had long waits
I talk to most of the restaurant owners in downtown, they're doing very well. Only one that's not doing great is one that just opened and doesn't have a liquor license yet.
Ballpark Village Salt & Smoke is their busiest and most profitable location, Rooster can't keep up, yesterday it had 100 people in line at 9:30am an hour and half after opening.
At lunch yesterday every restaurant was packed and majority had long waits
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Totally different note, but what if we had another major strip to the likes of Washington/ Delmar/ Euclid on Clark Avenue Between One Cardinal Way and Union Station? This street is accessible via three Metrolink stations, a Metrobus hub serviced by lines running all over, a couple of highway exits, and five parking garages to supplement it. A strip here would anchor our southern border and could make Downtown more active and fluid on the streets between Clark and Washington.
Here is the vision:
Firstly, high-quality infill to the likes of Citizen Park, 1014 Spruce, and The Orion on the parcels (and unused park space) directly fronting the street is needed to bring permanent residents to the area. Next, MODOT could remove the large exit ramps at 10th and 14th streets to free up more prime space in the heart of the strip. From there, Metrolink could make the sloped embankments leading onto their tracks retaining walls, freeing up space for wide sidewalks and plazas between 14th and 18th. Making the street one 10-foot wide lane in each direction with a tree-lined median and street parking on either side would boost the strip's walkability tenfold.
I think that this area could be among the most popular in the area with year-round activity from Busch, Enterprise, and eventually Centene Stadiums on top of the thousands of residents it would create. It would have a great nightlife between the sports bars and clubs (wheelhouse) and would have a great daytime feel too, with restaurants and retail a must. It would be cool to see someone buy the Justice Center garage and make it free to visitors on non-gamedays, similar to City Foundry or the Loop.
There really is a lot of potential for this area, and I think developers have largely looked past it. Either end is already anchored by brand new developments (BPV and Union Station) and would have guaranteed activity by millions of local sports fans every year. Seems like a no-brainer considering the accessibility and stadiums built along the street. These are just my initial thoughts after the idea sparked in my head. What would anyone else add?
Here is the vision:
Firstly, high-quality infill to the likes of Citizen Park, 1014 Spruce, and The Orion on the parcels (and unused park space) directly fronting the street is needed to bring permanent residents to the area. Next, MODOT could remove the large exit ramps at 10th and 14th streets to free up more prime space in the heart of the strip. From there, Metrolink could make the sloped embankments leading onto their tracks retaining walls, freeing up space for wide sidewalks and plazas between 14th and 18th. Making the street one 10-foot wide lane in each direction with a tree-lined median and street parking on either side would boost the strip's walkability tenfold.
I think that this area could be among the most popular in the area with year-round activity from Busch, Enterprise, and eventually Centene Stadiums on top of the thousands of residents it would create. It would have a great nightlife between the sports bars and clubs (wheelhouse) and would have a great daytime feel too, with restaurants and retail a must. It would be cool to see someone buy the Justice Center garage and make it free to visitors on non-gamedays, similar to City Foundry or the Loop.
There really is a lot of potential for this area, and I think developers have largely looked past it. Either end is already anchored by brand new developments (BPV and Union Station) and would have guaranteed activity by millions of local sports fans every year. Seems like a no-brainer considering the accessibility and stadiums built along the street. These are just my initial thoughts after the idea sparked in my head. What would anyone else add?
None of this matters until we get the gun violence under control. 100+ shots fired in DT West?
Incredibly serious. Where is the immediate and swift action? Where is the mayor, the police chief, the circuit attorney, the alderperson... Are we signalling this is OK? Are we so lost and inept we are just shrugging our shoulders. DT is a community, it deserves to be treated like one and defended. This is ridiculous and sad. How is this not a top priority for the city and region?
Incredibly serious. Where is the immediate and swift action? Where is the mayor, the police chief, the circuit attorney, the alderperson... Are we signalling this is OK? Are we so lost and inept we are just shrugging our shoulders. DT is a community, it deserves to be treated like one and defended. This is ridiculous and sad. How is this not a top priority for the city and region?
^ How is it not a top priority for the state? We legally can't do sh*t about guns locally.
We're all sick of this. I bet elected officials are even sicker of it than we are. But I'll ask again...in a state where cooperation with federal gun laws and investigations can get even a police officer sued...what's the answer?
Incredibly serious. I want to know. The one constant here is guns and our hands are tied. 4 people were shot to death in KCMO over two days last week. A North KC police officer was shot twice and murdered while he lay wounded in the street this past Tuesday. This isn't specific to St. Louis. Our state leaders are certainly shrugging their shoulders.
Ridiculous and sad indeed.
We're all sick of this. I bet elected officials are even sicker of it than we are. But I'll ask again...in a state where cooperation with federal gun laws and investigations can get even a police officer sued...what's the answer?
Incredibly serious. I want to know. The one constant here is guns and our hands are tied. 4 people were shot to death in KCMO over two days last week. A North KC police officer was shot twice and murdered while he lay wounded in the street this past Tuesday. This isn't specific to St. Louis. Our state leaders are certainly shrugging their shoulders.
Ridiculous and sad indeed.
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Texas: “In total, 376 law enforcement officers descended upon the school, according to the most extensive account of the shooting to date.” The obvious solution is to give cops more money.