Ralcorp, a long-term sublease tenant of the St. Louis, Mo. Bank of America Plaza, has completed a lease transaction for 175,000 sq. ft. The firm will soon begin interior construction to customize the office space.
The lease allows Ralcorp to keep its corporate headquarters at the plaza, located at 800 Market St. in downtown St. Louis, while adding three floors of space to expand its operations. The company is growing its current space by 57,000 sq. ft.
Bank of America Plaza is a 30-story, class-A office property in the heart of the St. Louis central business district and a prominent part of the St. Louis skyline. The 750,000-sq.-ft. building, which features an octagonal glass façade, was purchased two years ago by Positive Investments, a Los Angeles-based real estate investment firm that has focused on revitalizing the building's leasing efforts.
"The decision by Ralcorp to remain a tenant in this prominent St. Louis office building reaffirms the positioning of the property and the ownership's commitment to it," said Steinbach, a senior vice president with Jones Lang LaSalle, in a statement.
Ralcorp, a leading producer of private label foods sold to grocery, mass merchandise and drugstore retailers, will be rebuilding the space floor by floor to create greater operational efficiencies.
David B. Steinbach and David Biales of Jones Lang LaSalle completed the transaction on behalf of the building’s ownership, a private investment group. Ralcorp was represented by Rick Messey at Cassidy Turley.