Newmark and RealINSIGHT Marketplace are pleased to present the unique opportunity to acquire the fee simple interest in 909 Chestnut Street, an iconic 1.4 million square foot Class A office skyscraper located in the heart of downtown St. Louis, MO (“909 Chestnut” or the “Property”). 909 Chestnut is St. Louis’ largest office tower by square footage and is the second tallest building in the Gateway to the West, standing 46 stories tall with 42 floors of finished office space.
909 Chestnut is located within a prime downtown St. Louis location surrounded by the city’s array of restaurants, hotels, entertainment venues and other major attractions. The Property is adjacent to Citygarden—St. Louis’ centric urban sculpture park—and sits alongside the famous Gateway Mall, a stretch of green space that runs linearly one block wide from the renowned Gateway Arch at Memorial Drive to Union Station at 20th street. This location also positions the Property just a few blocks from the Mississippi River and its nearby casinos. Additionally, the Property enjoys its proximate location within a short distance to City Hall, Enterprise Center, Busch Stadium, St. Louis Union Station, and numerous other nearby attractions.
Formerly occupied by AT&T, the Property is currently vacant which presents investors the attractive opportunity to acquire a prominent Class A office tower significantly below replacement cost to pursue a variety of potential business plans. With a meaningful amount of square footage in a central downtown St. Louis location, investors can see significant value creation through strategic lease-up, or otherwise seek to redevelop or repurpose the Property to fit an alternative use. To this end, the 909 Chestnut sits within an Opportunity Zone, offering potential tax benefits to investors and owners.