ST. LOUIS—Investors from across the US now consider the suburban St. Louis area quite attractive. That is especially true of Clayton, an office center just west of the city. KBS Real Investment Trust II is one of many owners there that has continued to see new tenants and expansions.
The Newport Beach, CA-based company just signed a 20,606-square-foot lease at its Pierre Laclede Center, a two-building complex located on five acres at 7701 and 7733 Forsyth Blvd. Capes Sokol, a law firm, renewed 15,527 square feet of office space and signed a new 5,079-square-foot lease at the property.
“Pierre Laclede Center is an iconic office building with a strong set of amenities in a vibrant and accessible location,” says Brett Merz, senior vice president at KBS and asset manager for the property. “We are pleased that Capes Sokol has renewed and expanded its space.”
The overall vacancy rate for class A properties in Clayton has sunk to just 7.8%, according to Colliers International, and the $26.58 rental rate is the second highest in the region, bested only by suburban Chesterfield.
The Pierre Laclede complex includes a fitness center equipped with lockers and showers, a full-service café serving breakfast and lunch daily, garage parking, a car wash, security and two full-service banks. The St. Louis Club, the city's premier business club, is also located at Pierre Laclede Center.
Capes Sokol, a resident of Pierre Laclede since inception, is a St. Louis-based law firm focusing on business, commercial and intellectual property litigation; trusts and estates; white collar and other criminal defense matters; tax litigation and controversy; and corporate and real estate matters.
“Capes Sokol has experienced steady growth over the last 15 years,” says Jeff Cohen, managing partner. “This expansion will provide additional office space for new attorneys and practice groups, such as our newly added trusts and estates group, and position the firm to accommodate for planned future growth.”
Artie Kerckhoff and Mark Palmer represented KBS REIT II, and Jeff Altvater, Meade Summers and Rebecca Suen of Hilliker Corp. represented Capes Sokol in the transaction.
Other KBS-affiliated companies have purchased assets in the town. In 2015, KBS Real Estate Investment Trust III bought 101 S. Hanley, a 346,451-square-foot tower in suburban Clayton, from Duke Realty for $62.25 million.
ST. LOUIS—Investors from across the US now consider the suburban St. Louis area quite attractive. That is especially true of Clayton, an office center just west of the city. KBS Real Investment Trust II is one of many owners there that has continued to see new tenants and expansions.
The Newport Beach, CA-based company just signed a 20,606-square-foot lease at its Pierre Laclede Center, a two-building complex located on five acres at 7701 and 7733 Forsyth Blvd. Capes Sokol, a law firm, renewed 15,527 square feet of office space and signed a new 5,079-square-foot lease at the property.
“Pierre Laclede Center is an iconic office building with a strong set of amenities in a vibrant and accessible location,” says Brett Merz, senior vice president at KBS and asset manager for the property. “We are pleased that Capes Sokol has renewed and expanded its space.”
The overall vacancy rate for class A properties in Clayton has sunk to just 7.8%, according to Colliers International, and the $26.58 rental rate is the second highest in the region, bested only by suburban Chesterfield.
The Pierre Laclede complex includes a fitness center equipped with lockers and showers, a full-service café serving breakfast and lunch daily, garage parking, a car wash, security and two full-service banks. The St. Louis Club, the city's premier business club, is also located at Pierre Laclede Center.
Capes Sokol, a resident of Pierre Laclede since inception, is a St. Louis-based law firm focusing on business, commercial and intellectual property litigation; trusts and estates; white collar and other criminal defense matters; tax litigation and controversy; and corporate and real estate matters.
“Capes Sokol has experienced steady growth over the last 15 years,” says Jeff Cohen, managing partner. “This expansion will provide additional office space for new attorneys and practice groups, such as our newly added trusts and estates group, and position the firm to accommodate for planned future growth.”
Artie Kerckhoff and Mark Palmer represented KBS REIT II, and Jeff Altvater, Meade Summers and Rebecca Suen of Hilliker Corp. represented Capes Sokol in the transaction.
Other KBS-affiliated companies have purchased assets in the town. In 2015, KBS Real Estate Investment Trust III bought 101 S. Hanley, a 346,451-square-foot tower in suburban Clayton, from Duke Realty for $62.25 million.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
