Tuesday, January 27, 2009

Another One Bites the Dust

It’s the kind of news that makes my head hurt: Husch Blackwell Sanders has decided to consolidate its offices in Clayton instead of downtown. While this is not all that surprising, it’s particularly painful coming on the heels of Armstrong Teasdale’s decision to leave Met Square for Centene’s new development in Clayton.

Apparently Husch was looking for new Class A space, one thing that downtown cannot currently offer but desperately needs in order to attract and retain tenants.

It doesn’t have to be a 50-story tower.

It doesn’t have to be part of a mixed-use “entertainment district” or some other grandiose concept.

It doesn’t need to overlook the ballpark.

It just needs to be high quality space, with sufficient parking and other amenities that tenants like Husch require.

According to the Business Journal...
St. Louis Deputy Mayor Barb Geisman said the city presented Husch Blackwell Sanders several sites downtown where the law firm could build an office tower. “We are working on a couple of new office building sites that, start to finish under the best circumstances, would take two years,” Geisman said.
Husch, which left the Bank of America Tower downtown for Clayton in 2002, now leaves behind approximately 80,000 sf of space in the Laclede Gas Building. In this economy, that space may prove challenging to fill.

Sometimes it’s difficult to stay optimistic about downtown’s future, when people and firms that could really make a difference in revitalizing downtown decide to turn their back on it.

3 comments:

Anonymous said...

Supposedly they still had another 3-4 years left on their lease downtown? Well the Clayton location building management offered Husch to pay off their downtown lease as well as lower the price per square foot if they consolidated to their building.

Now my question is, how can the building owner/management afford to offer this incentive? There must have been some other “invisible” hand in paying for this (cough “Clayton” cough)

At least Laclede Gas Building got a severance pay.

Anonymous said...

How long does Husch have left on their lease in Clayton?

Dr. Danielle said...

Ouch. A step forward... A step backward... Makes it hard for Downtown to get ahead of the game. Very frustrating indeed.