St. Louis Suburbs Seeing Improvement

ST. LOUIS—The economy of this region seems to have turned a corner, and as reported in GlobeSt.com, the office and industrial markets, including the suburbs, have responded by perking up a bit. And KBS Real Estate Investment Trust II has just helped tighten the market a bit more by completing 41,431-square-feet in leases at its Pierre Laclede Center, a two-building office complex in the key suburb of Clayton, just outside the city.

Morgan Stanley Smith Barney signed a new lease for 30,380-square-feet in the 579,846-square-foot complex located at 7701 and 7733 Forsyth Blvd. Mark Palmer and Art Kerckhoff of CBRE represented KBS, a Newport Beach, CA-based public non-traded trust, in the transaction.