Delmar Gardens Leases 62,500 SF of New Office Building in West St. Louis County to Rabo AgriFinance
ST. LOUIS, October 13, 2015 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that St. Louis-based Delmar Gardens has leased 62,500 square feet of its new Delmar Gardens III building to leading agricultural finance company Rabo AgriFinance.
The 125,000 square foot office building will be located at 14767 N. Outer 40 Road, Chesterfield, MO, and will be completed in the summer of 2017. Rabo AgriFinance, a financial services provider for agricultural producers and agribusinesses, will relocate its corporate headquarters from Creve Coeur Pointe to Delmar Gardens III in Chesterfield.
“The Delmar Gardens family is honored and privileged to have such a prestigious lead tenant as Rabo AgriFinance relocate its headquarters to our Chesterfield campus,” said Gabe Grossberg, President and CEO of Delmar Gardens.
Cushman & Wakefield Senior Vice Presidents David Kelpe, CCIM, SIOR, and Hassan Jadali, CCIM, SIOR, represented Delmar Gardens, the building owner, in the transaction. CBRE Senior Vice President Kevin Bittmann represented Rabo AgriFinance. Cushman & Wakefield currently is marketing the remaining space for lease.
“Delmar Gardens III is the first Class A multi-tenant office building to be built in West St. Louis County since 2008,” said Mr. Kelpe. “After the resounding success of Delmar Gardens I and II, we are excited to assist our client in leasing the remaining space in this extraordinary office building.”
“At the heart of the ag industry and home to some of the world’s largest agrotech companies, Rabo AgriFinance’s commitment to growing in the St. Louis community is testament to the strength of our region as a leader in Ag Innovation. We at the St. Louis Regional Chamber were pleased to work with our partners, the Missouri Department of Economic Development, the St. Louis Economic Development Partnership, and the City of Chesterfield on this major economic development project,” said St. Louis Regional Chamber President & Chief Executive Officer Joe Reagan.
The Delmar Gardens campus is a winner of the local, regional, and international The Outstanding Building of the Year (TOBY) Award for excellence in building operations and management from the Building Owners and Managers Association (BOMA) International.
Delmar Gardens III will be within minutes of more than three million square feet of retail, entertainment and dining options as well as being surrounded by several major healthcare facilities and educational institutions.
In addition to this transaction, Mr. Kelpe and Mr. Jadali recently have completed transactions at the Delmar Gardens campus totaling more than $36 million year to date. These transactions include Morgan Stanley Smith Barney’s lease renewal and expansion of 15,765 square feet and Enable Midstream Partners LP’s new 1,486 square foot St. Louis office. The Orthopedic Center of St. Louis also renewed its lease of 31,538 square feet, and Surgery Center Partners, Inc. renewed its lease of 16,411 square feet.
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Cushman & Wakefield:
Lisa York, 317.650.6734
Sarah Kolell, 816.516.7984
Delmar Gardens Enterprises:
Patricia Muich, 636-733-7000