AT&T building – a vacant 44-story office in downtown St. Louis – has a buyer

By on May 15, 2019

From St. Louis Post-Dispatch:  The vacant AT&T skyscraper downtown, empty since the fall of 2017, may finally get a new owner. But exactly who that is isn’t yet clear.

During an auction for the building held last month, an “acceptable offer” was made to the building’s bondholders, and a sale is expected to conclude this month, according to a report from securities analytics firm Trepp.

The 1.4 million square-foot, 44-story office building on Chestnut Street is the largest office building by square-footage in the region, and the 1986 structure built for a single tenant has posed a vexing challenge amid a downtown market already struggling with the highest office vacancy rate in the metro.

AT&T vacated its lease in September 2017 and about 2,000 of the company’s employees relocated nearby in buildings at 801 Chestnut and 1010 Pine streets.

The building was placed into receivership in 2017 after U.S. Bank National Association Trustee sued its former owner, Chicago-based InvenTrust Properties Corp., and foreclosed on the building.

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