Investment Summary
Pierre Laclede Center is a 580,368 square-foot pair of class-A high rise office buildings acquired by LCP and a co-investor group for $95 million ($164 PSF) on May 23, 2019. Located along Forsyth Boulevard in the heart of downtown Clayton, one of the most sought-after and best-performing office submarkets in the St. Louis MSA, PLC is a destination location within Clayton and includes a parking deck with 1,304 spaces. PLC offers tenants many first-class amenities, including a fitness center, conference center, deli, barber shop, on-site car wash, proximity to restaurants and retail, and The St. Louis Club. At acquisition, PLC was 96% leased with a weighted average lease term of 4.63 years.
