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St. Louis Commerce Center II
The most gratifying projects are ones that have a positive impact on the community. BBA created St. Louis Commerce Center in a part of the city where most people had given up hope: it was the first new development in the area in 25 years. BBA responded to the long-overlooked demand for downtown industrial space with the 20-acre project, located at 20th Street and Dr. Martin Luther King Drive.
BBA went into the project knowing that there were challenges. Despite a smorgasbord of environmental problems, the unknown cost of site remediation, a spider web of utilities, the ordeal of vacating some surrounding streets and demolishing the existing building, BBA knew that with vision and drive the project could happen.
St. Louis Commerce Center's two buildings now contain 487,000 SF of industrial space that generates untold revenues and nearly 300 jobs for this once-depressed neighborhood. The project was responsible for removing 5,000 feet of asbestos, remediating 20,000 tons of soil, and treating 12,000 gallons of contaminated groundwater. Important benefits to the development's clientele include a 25-year real estate tax abatement and Brownfield Redevelopment State Income Tax Credits.
- 337,000 sf building
- Warehouse/distribution space
- 28' clear ceiling
- ESFR sprinkler
- Tax abatement
- Lease Rate $3.95 psf NNN