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Press Releases

KBS REIT II Signs Over 62,700 Square Feet in Leases at Pierre Laclede Center in Clayton, Missouri

  • December 18, 2017
Press Releases

KBS REIT II Signs Over 62,700 Square Feet in Leases at Pierre Laclede Center in Clayton, Missouri

  • December 18, 2017
CLAYTON, Mo. (Dec. 18, 2017) – KBS Real Estate Investment Trust II (KBS REIT II), a non-traded real estate investment trust based in Newport Beach, California, announced today the signing of 62,729 total square feet in leases at Pierre Laclede Center. The Saint Louis Club, a private business and dining club located within the building, renewed a 47,572 square-foot lease, while St. Louis Economic Development Partnership, the economic development organization serving St. Louis city and county, signed a new lease of 15,190 square feet.

Pierre Laclede Center consists of two buildings with a total of 579,846 rentable square feet on 5.1-acres. The property is located within the highly regarded St. Louis submarket of Clayton, Missouri and on the northwest corner of the intersection between Hanley Road and Forsyth Boulevard.

In addition to the private dining club that the Saint Louis Club offers, Pierre Laclede Center’s other features also provide tenants with an enjoyable experience. Other on-site amenities include a conference center, parking garage, car wash, two full-service banks, a café and a fitness center. The surrounding area offers tenants access to lodging, popular restaurants such as Capital Grille and a short ten-mile drive to Airport Township.

“Our members and guests have always appreciated our central Clayton location and our spectacular 360° views of St. Louis,” said Terry Pflager, president of the Saint Louis Club. “This lease helps us combine the best of our past with exciting plans for future generations. In 2017, we plan to complete a major renovation on the 14th floor — creating a casual, tech-friendly, social space that will offer exciting new amenities, along with the fine dining, remarkable wine cellar and the elegant meeting spaces that have always made us famous.”

“We are pleased to maintain our relationships with long-lasting tenants such as The Saint Louis Club and St. Louis Economic Development Partnership,” said Brett Merz, senior vice president at KBS and asset manager for the property. “We remain confident in the amenities at and around Pierre Laclede Center as the property maintains its reputation as an iconic asset in Clayton.”

Marc Palmer and Artie Kerckhoff of CBRE represented KBS REIT II in the deals.

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to KBS REIT II’s ability to invest in and manage a diverse portfolio, and the performance of Pierre Laclede Center and of the Clayton real estate market. These statements are subject to known and unknown risks, uncertainties and other factors which may cause KBS REIT II’s and/or Pierre Laclede Center’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Media Contact

Ginny Walker

KBS PR Manager
949-417-6535
gwalker@kbs.com

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Underwriting the Perceived Instability of Short-Term Office Leases

  • February 16, 2021
The threat of shorter office lease terms has been looming over the commercial real estate industry for several years. Companies first braced for the potential impact of new standards from the International Accounting Standards Board (IASB) recognizing all leases on the balance sheet, which took effect in January 2019. Then, the office leasing world was hit with additional challenges from COVID-19 as many companies opted to work from home and re-evaluated the role of their physical office space.
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Envisioning the Future of the Built Environment

  • January 29, 2021
Amidst the ongoing crisis, built environments are at the front lines of change and will play a huge role in creating a more resilient world going forward. Office architects are re-envisioning the future of the workplace—where and how we work. Unfortunately, there is no crystal ball to predict exactly what the new future-oriented office will look like, but what we do know is flexibility and adaptability will be key in resilient design.
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Why Texas is becoming a commercial real estate powerhouse

  • January 21, 2021
It looks like 2021 will be another big year for Texas, a year when a lot of major companies will make the jump and move to the Lone Star state. Just look at these transitions:
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