ST. LOUIS-RGA Reinsurance Co. has subleased almost 63,000 square feet of office space from Westar Aerospace & Defense Group Inc. here at a building in the Missouri Research Park. RGA, which is using the offices to expand its information technology division, signed a four-year lease.
Westar has a long-term lease on the full 81,000-square-foot building, and subleases out the rest of the facility at 36 Research Park Ct. to another tenant. The company is centralizing its holdings in Huntsville, AL, according to George Convy, first vice president at CB Richard Ellis. He and Ann Dulle represented Westar, while Scott Bazoian with Cassidy Turley represented RGA in the sublease. “Westar is a defense contractor, and they’re all moving toward the East,” Convy says. “This was a great plug-and-play opportunity for RGA, with the furniture already in place.”
He says while some of the sublease space has come off the market in the past three quarters, there’s still quite a bit left in the St. Louis area. “There’s still a lull where we’re waiting for the bankers to make a decision, and the mergers and acquisitions process continues,” Convy tells GlobeSt.com.
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