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Owners of One Metropolitan Square Announce Refinance, Plans for Upgrades

in Companies/News

Bryan Cave Leighton Paisner Signs Lease Extension

JLL (NYSE: JLL) today announced its client The 601W Companies, owners of  One Metropolitan Square last week finalized a loan refinance for the 42-story office building in downtown St. Louis. JLL’s office leasing team announced it successfully facilitated the negotiation of a long-term office lease extension on behalf of the landlord. JLL’s law firm practice group represented Bryan Cave Leighton Paisner in the transaction.  Bryan Cave Leighton Paisner currently occupies nine floors and more than 200,000 square feet of office space. The law firm’s extension signifies its commitment to remaining in downtown’s largest office property.

Dave Biales, the lead JLL leasing agent for One Metropolitan Square, said, “Today marks a big turning point for the building’s ownership and for One Metropolitan Square. JLL is very happy to have assisted the owners, who are well capitalized and committed to making significant investments into the building.  In the coming months, we will be announcing several tenant commitments.”

In light of the Bryan Cave Leighton Paisner announcement and the completion of the new loan, owners of downtown’s largest office building have allocated funds to make immediate improvements. Plans being considered include a new coffee shop, marketing center and upgrades to common areas. Last year, owners invested $2.5 million in The Eatery, downtown’s first food hall located on the ground floor of One Metropolitan Square. The food hall already includes three popular restaurants such as, Arista Gourmet, Dino’s Deli, and Kimcheese Asian Fusion. HIRO Poke Co. is under construction now and will be open this month as the fourth restaurant, bringing even more unique fare to the dining destination.

Mark Karasick, managing director of The 601W Companies, said, “We are grateful to have worked out our loan and to recommit ourselves to the St. Louis CBD.  As part of our restructure of the debt, we have invested significant funds for capital improvements to the property and for tenant improvements for incoming occupants.  We welcome this opportunity to maintain One Metropolitan Square as the premier trophy property in downtown St. Louis”.

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.

With over 1,400 lawyers in 32 offices across North America, Europe, the Middle East and Asia, Bryan Cave Leighton Paisner LLP is a fully integrated global law firm that provides clients with connected legal advice, wherever and whenever they need it. The firm is known for its relationship-driven, collaborative culture, diverse legal experience and industry-shaping innovation and offers clients one of the most active M&A, real estate, financial services, litigation and corporate risk practices in the world. www.bclplaw.com

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