ST.LOUIS—TryperionPartners has just acquired a 637,000-square-foot class Aoffice portfolio of six properties located throughout suburban St.Louis. Tryperion partner Joseph Kessel that the portfolio is over 90% leased under long-termleases and includes the national headquarters for EnergizerHoldings and Panera Bread, and regionalheadquarters for Equifax and NewBalance.

Generally speaking, we were attracted to thetenants that comprise this portfolio,” Kessel said. However, theLos Angeles-based fund, which largely focuses on western markets,was also impressed with the health and diversity of the metropolitan area's officemarket. The submarkets surrounding the central cityhave been particularly impressive. “If you look at where the growthhas been concentrated in St. Louis, generally it's been in thesuburbs, especially the western suburbs.” He cited Town andCountry, a suburb about 12 miles west of the city, as a standout,along with St. Charles County, which spreads out north and west ofSt. Louis.

We felt they had consistent demand drivers,” headded, including healthcare providers and corporate headquartersthat serve the Midwest region. “It's a fairly well diversifiedeconomy.” But unlike the downtowns of other Midwestern cities, theCBD in St. Louis has not had much of a revival, or “experienced theNew Urbanism feel. It's more of a suburban officemarket.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.