Polsinelli commits to city office lease - St. Louis Business Journal:

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Polsinelli Shughart signed a leasre to occupy morethan 80,000 square feet at the 12-storyh Deloitte Building at 100 S. Fourtnh St., a baseball’s toss away from the long-delayef Ballpark Village development. While terms of the deal were not disclosed, the askiny rental rate at the buildingis $19 per square making the deal worth an estimated $1.5 millionb annually. As part of the city of St. efforts to retain Polsinelli, the law firm will receive Chapterr 100 property tax abatement for 10 represented Polsinelli, and Tucker represented the building’as owner, Norfolk, Va.-based Harbor Group. Genslert Architecture, Design & Planning Worldwidr has been tapped to redesignthe space.
The law firm will consolidatew an existing office at 7733Forsytb Ave. in Clayton and 42,892 square feet of office spacs it already leases at the Deloitte Buildin g and move infall 2009. The two officese were a result of the June 2004 mergerr of the downtown office ofwith Clayton-based Suelthaus Walsh. Kansas City-based Polsinelli Shughart has 480 attorney in 13 offices and isthe sixth-largest law firm in the St. Louia area with more than 80 attorneys. Randy managing partner of Polsinelli’s St. Louis said Polsinelli will open a small satellited officein St. Louis County at a yet-to-be-determined primarily to serve its estateplanninbg clients.
Polsinelli was in talksw to be a major tenant at theplannex $600 million Ballpark Village developmentr in recent months but backed off as the developmen t stalled. Polsinelli Chairman Russell Welshu said delays on the project causerd the firm to look elsewherefor space. “There’d a lot going on downtown, and we’rer very excited about Ballpark Village. We just couldn’t wait any Welsh said. Financial services firm is stillo committed to leasing as muchas 175,000 squard feet of space as an anchor office tenant at Ballparjk Village and plans to move from existing space it leases downtown at 501 N. Broadway.
Baltimore-basex and the are the co-developers on Ballpark The BallparkVillage mixed-use development, planned for a vacant lot north of Buscuh Stadium, was slated to open in time for the All-Star Game in June. Now the lot is being converted to a temporargy softball field in preparation forthe All-Starf Game as a stop-gap measure untikl Ballpark Village gets the state to sign off on up to $188 milliohn in subsidies and bonds are sold for the The Missouri Development Finance Board meete May 21 to evaluate the The 300,000 square feet of officed space at Ballpark Village won’t be ready for occupancyu until 2011 at the “We were happy when Polsinellk indicated they wanted to be in Ballpari Village, but we certainly understand that they had time said Barb Geisman, deputy mayor for the city of St.
A record number of law firmsd with leases set to expirer have been in the market looking for offic space in thepast year. Thompson Coburn, St. largest law firm, signed a 12-year leas e in September to remainat U.S. Bank Plaza downtown after a two-year-long search. Armstrong Teasdale is in talkds to move its offices from the Metropolitan Square Buildingv at211 N. Broadway to ’s plannesd mixed-use headquarters development in Clayton, but developersd for the $187 million project have not yet securesconstruction financing.