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Business Group to Move into WeWork Offices in Downtown St. Louis

| Commercial Real Estate News, Deals, Featured, Leasing, Office| Views: 0

Greater St. Louis Inc. (GSL), a local business group founded in 2021, has announced the signing of a 10-year lease deal in a 1-million-square-foot office tower in downtown St. Louis. The owner, Sax Ventures, was represented by JLL’s David Biales, while Cushman & Wakefield’s John Warren negotiated on behalf of the tenant.

The deal will allow Greater St. Louis Inc. — which already occupies space on the 13th floor of the building — to lease out the entire 22nd floor, which had previously hosted coworking space provider WeWork. The move is expected to be completed by spring 2023.

The St. Louis business group — which includes the likes of AllianceSTL; Arch to Park; Civic Progress; Downtown STL, Inc.; and the St. Louis Regional Chamber — is focused on fostering economic growth by investing in the city’s downtown.

“All growing metros have thriving downtowns and, as we work to grow the St. Louis metro, we want to lead by example by investing in the heart of the urban core,” said Jason Hall, CEO of GSL. “We are excited to stay downtown and help lead its resurgence.”

The group emphasized its commitment to downtown St. Louis despite recent high-profile exits, which included ShipWorks, Brown & Crouppen and KMOV. Nevertheless, GSL cited some of the positive moves within the area that have underscored the company’s decision. One of them was the U.S. Department of Agriculture’s offices within the same premises. The USDA is set to house the agency’s nearly 1,000 employees. Likewise, Peabody Energy announced that it would continue its stay at its 701 Market St. location, while Scale AI has plans to open a Washington Avenue office.

Located at 211 North Broadway, the 49-story Metropolitan Square was originally completed in 1989 and refurbished just before the onset of pandemic.

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