TOWN & COUNTRY, MO-Clayco has broken ground on an 80,000-sf, speculative office building here at 825 Maryville, at the southeast corner of S. Outer 40 and Maryville Centre Drive. Local developers Lester Miller and his grandson, David, are behind the $10-million speculative office project going up on seven acres of green space. Miller is the owner of the newly renovated Busch’s Grove and Lester’s Sports Bar and Grill, both in Ladue.

Kevin Lasater, Clayco’s project executive on the construction, tells that the building is being constructed to match a new opportunity in the market. “Miller bought the property from Duke Realty about six years ago and land-banked it,” Lasater says. “Now, they’re shutting down Highway 40/64, a major east-west highway, for repairs; it will be shut down from 2008-09. A lot of companies in St. Louis are contemplating putting satellite offices in this area, just west of the construction.” He adds Clayco can have the building completed by July 2008.

The building has attracted a few interested parties, Lasater says. “There was one potential tenant who planned on taking the entire building, but they got bought by another company, and their plans have been put on hold,” he says. “Now, there’s another potential tenant that’s interested in leasing half of the building.” Tripp Hardin with CB Richard Ellis is the leasing agent, and has listed the space at $28.50 per sf.

Lasater says he expects it will cost a few additional million dollars for tenant retrofits in the building. The brick building, with stone accents, will be three-stories tall, but will have one recessed level so that from the south it will look like a two-story building, Lasater says. A garden and patio will be constructed in the sub-level area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.