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750K-SF St. Louis-Area Office Park Planned
A 750,000-square-foot Class A St. Louis-area office complex is planned for a location that already has seen new facilities for Edward Jones and World Wide Technology. St. Louis-based CRG will develop the site.
The three-building Balmoral Office Park, which would be built near Olive Boulevard and I-270 in St. Louis County, will likely seek its zoning application in spring 2018, Creve Coeur community development director Jason Jaggi told the St. Louis Post-Dispatch.
“The lack of overall vacancy in the office market, and the central location to both the north and south make this a great site,” said CRG chairman/CEO Bob Clark.
Office vacancy was 9% in 2017 within the Olive-270/Westport submarket, Gershman Commercial Real Estate found. Office rents in the area surpassed $23-per-square-foot, and no blocks of Class A office space of over 40,000 square feet exist in the submarket.
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