Wednesday, September 26, 2007

Law Firm Leases - The Ongoing Saga

A blurb from today's Daily Record:

Armstrong Teasdale, which has Centene as a client, stated that Centene's new building is "very high" on its list of possible locations. It was considering moving into the proposed Centene HQ in Clayton. Armstrong's current lease in Met Square is due to expire in two years.

Kenneth Luther, the executive director of Thompson Coburn, said that the Centene move "sort of validates that Ballpark Village is a real option." Thompson Coburn's lease in the US Bank building expires in 2010, and is considering renewing, or relocating elsewhere in downtown, or in Clayton.

Said another attorney: "You're dealing with a checkers game. If one law firm moves from one location to another, landlords sitting on vacant space get aggressive, so it kind of trickles down."

Barb Geisman says the City is in touch with all firms downtown looking for space.

"We are hopeful that the Centene announcement will not only make it possible to encourage those law firms to remain, but to attract other professional offices to the City," she said.


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