"The purchase of these buildings is an important step in Scottrade's short and long-term growth plans," says Rodger Riney, Scottrade founder and CEO. "As we expand our national branch office network and the number of customers we serve continues to grow, the number of associates at our headquarters here in St. Louis must grow, necessitating the need for additional office space."

Maryville Centre is composed of 11 office buildings along the Interstate 64/US 40 corridor, and adjacent to Maryville University. In the transaction, Scottrade walks away with 500-510 Maryville Centre as well as 700 Maryville Centre Dr. and two land parcels totally 14 acres. The 500-510 Maryville Centre building totals 165,000 square feet on four floors. The 700 Maryville Centre Dr. facility is a 215,000-square-feet, five-story office building.

"Purchasing, rather than building, new office space makes sense for Scottrade because we will be able to move into the new facility much more quickly than if we had just begun new construction," Riney says.

The purchases were made to meet Scottrade's expanding business needs. Some operations and administrative functions will move to the new location, although a timeline has not been set for the implementation of the move.

"We are pleased that Scottrade was able to purchase these properties, which are a part of the attractive business campus of Maryville Centre," says Toby Martin, SVP of Duke's St. Louis operations. "We've found that businesses like Scottrade enjoy the convenient location and the quality shopping, hotels and other nearby amenities. Duke is pleased to retain ownership and management of nine other buildings in Maryville Centre, which are 93% leased."

CB Richard Ellis'Tripp Hardin and Don Woehle represented Scottrade in the transaction.