Ralcorp Holdings, a St. Louis-based company that primarily produces private label and store brand food products, was represented by Scott Lawliss, an associate with Colliers Houston & Co. of Teaneck. The ownership was represented by brokers from Cushman & Wakefield. Terms were not released. The space had been listed with Cushman & Wakefield as a sublet with an asking price of $24 per sf with a term through December 2014.
"After buying the Post cereal brand from Kraft Foods, Ralcorp needed a new location to accommodate that new division's management group," Lawliss tells GlobeSt.com. "With its amenities and its location, the building provided a great fit for them."
Ralcorp Holdings, a successor to Ralston Foods, completed its acquisition of the Post cereal brand in August. Morris II, meanwhile, is currently more than 90% leased with a direct availability of about 15,000 sf listed with an asking price of $31 per sf. Other major tenants include Zurich American Insurance and Towers Perrin.
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