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JV Plans 150,000-SF Spec Office for NorthPark

ST. LOUIS COUNTY, MO-McEagle Properties and Clayco start work on a $28-million to $30-million office building in the $500-million NorthPark.

By Gina Kenny | Updated on May 31, 2007

ST. LOUIS COUNTY, MO-NorthPark Partners is planning to build a 150,000-sf speculative office building as part of the 550-acre mixed-use NorthPark. The $500-million redevelopment is adjacent to Lambert International Airport and University of Missouri-St. Louis at corner of Interstates 70 and 170 in the cities of Kinloch, Berkeley and Ferguson.

The three-story building will be built next to the under-construction Vatterott College national headquarters, which is the first building for the $500-million NorthPark development. NorthPark is being developed by a joint venture of McEagle Properties of O’Fallon and St. Louis-based Clayco Inc. The office project is valued at $28 million to $30 million, says Larry Chapman, a principal with Clayco.

The joint venture hopes to start construction on the office building by July, but Chapman tells GlobeSt.com “that may be a little bit wishful.” It will take about 10 months to complete the core and shell, with the first tenants to move in possibly in June 2008. The quoted rate will be $14 per sf net or $22.50 per sf to $23.50, full-service. The building could accommodate one to five tenants.

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