ST. LOUIS—The office market in this region's western suburbs has tightened considerably, and Centene Corp. just became the latest local firm to help push down the vacancy rate further. The provider of health plans through Medicaid, Medicare and the health insurance marketplace has decided to lease all 117,618 square feet at Timberlake Corporate Center II in suburban Chesterfield from Franklin Street Properties Corp.

“This represents pure growth for Centene in St. Louis,” DTZ executive managing director Jim Mosby tells GlobeSt.com. Wakefield, MA-based Franklin Street was represented by Mosby, associate D.J. Fuchs and associate Danielle Grubbs. DTZ executive managing director Scott Bazoian represented the tenant.

Centene also has a great deal of space in nearby Clayton and Fuchs says the company is one of the fastest growing in the region. But in some respects it's not unusual. “Most of our clients are talking about needing more space.”

Built in 1999, the building, one of three that make up the Timberlake Corporate Center campus, is located at 1370 Timberlake Manor Pkwy. “We got the space back vacant in January,” says Mosby. Their strategy was to market the property to large companies that would value its visibility and large floor plates. “We wanted a full-building user.”

Timberlake has easy access to I-64 and Hwy. 40, he adds, and features custom-designed suites and covered parking. Before the end of the year, it will feature a full amenity package, including food service, a conference/training room and a fully equipped fitness center. DTZ serves as the property manager.

“Our market, especially Chesterfield, is in much better shape than it was just two years ago,” Fuchs says. “We saw significant demand for this property,” with demand particularly strong among large users. “Anyone needing 20,000 square feet or more was coming to look at this project.”

“The pendulum has decidedly swung in favor of landlords, and that's been true for about 18 months,” says Mosby, although the CBD and the B office market in general still lag behind the suburbs and the A market. Vacancy rates are quite low in places like Clayton and Chesterfield and asking rates are at an all-time high. He sometimes hears tenants searching for space voice frustration over this state of affairs, but Mosby tells them that “the reason landlords are doing so well is that you're doing much better.”