Centene News
While St. Louis is shrouded by uncertainty with In-Bev buying A-B they are comforted by the stay of another business giant. Though the move was not likely to take Centene our of St. Louis they have found the site for their new home-to-be!
Dan Sheehan, David Danforth and Debbie Pyzyk held out for a recod price. The $18.8 million that Centene is paying for their properties on Forsyth Boulevard in Clayton amounts to the highest price per square foot ever paid for real estate in St. Louis.
Centene's years-long quest to buy the three buildings to build its new $215 million headquarters has paid off handsomely for the three, who held out on selling their property.
The $18.8 million sale price for the three buildings and land is nearly double the initial offer of $11.4 million the Medicaid managed-care company made in 2006. It's also several million dollars higher than an offer extended through the city of Clayton just 10 months ago.
Pyzyk's and Danforth's prices for their properties equaled $431 per square foot. Comparatively, the 2006 sale of The Plaza in Clayton office tower brought in $290 per square foot, then the highest price ever paid for office investment property in St. Louis.
Centene's years-long quest to buy the three buildings to build its new $215 million headquarters has paid off handsomely for the three, who held out on selling their property.
The $18.8 million sale price for the three buildings and land is nearly double the initial offer of $11.4 million the Medicaid managed-care company made in 2006. It's also several million dollars higher than an offer extended through the city of Clayton just 10 months ago.
Pyzyk's and Danforth's prices for their properties equaled $431 per square foot. Comparatively, the 2006 sale of The Plaza in Clayton office tower brought in $290 per square foot, then the highest price ever paid for office investment property in St. Louis.
Centene Corp. announced it completed the $4.275 million purchase of a city-owned parking garage.
The deal is part of its redevelopment agreement with the city of Clayton.
The garage, located at 7733 Carondelet, is expected to undergo major renovations to support the new development while retaining 124 parking spaces for the general public.
Since the garage was city-owned property, this transaction will place the structure on the tax rolls, generating an estimated $14,000 in new property taxes for the city and $63,000 for the Clayton School District annually, according to Centene's release.
The firm also assumed all future responsibility for maintaining the garage, saving the city about $50,000 in annual maintenance costs.
Centene plans to reconstruct its world headquarters and develop a corporate campus in downtown Clayton. The redevelopment, which includes two new Class A office towers with retail mixed into the project, will be located in the area of Carondelet Avenue, Hanley Road and Forsyth Boulevard.
The deal is part of its redevelopment agreement with the city of Clayton.
The garage, located at 7733 Carondelet, is expected to undergo major renovations to support the new development while retaining 124 parking spaces for the general public.
Since the garage was city-owned property, this transaction will place the structure on the tax rolls, generating an estimated $14,000 in new property taxes for the city and $63,000 for the Clayton School District annually, according to Centene's release.
The firm also assumed all future responsibility for maintaining the garage, saving the city about $50,000 in annual maintenance costs.
Centene plans to reconstruct its world headquarters and develop a corporate campus in downtown Clayton. The redevelopment, which includes two new Class A office towers with retail mixed into the project, will be located in the area of Carondelet Avenue, Hanley Road and Forsyth Boulevard.
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