Scottrade Purchases Maryville Centre Properties for Corporate Headquarters Expansion
ST. LOUIS, March 30, 2009 Scottrade, a leading branch,supported online investment firm based in St. Louis, today announced it has closed on the purchase of two buildings and two parcels of land in the Maryville Centre area in West St. Louis County. The Maryville Centre properties, purchased from Duke Realty Corporation (NYSE: DRE), will accommodate the growing needs of the firm while keeping new and existing jobs in St. Louis County.
The purchase of these buildings is an important step in Scottrade short and long term growth plans,said Rodger Riney, Scottrade founder and CEO. we expand our national branch office network and the number of customers we serve continues to grow, the number of associates at our headquarters here in St. Louis must grow, necessitating the need for additional office space.
Maryville Centre is an 11 building office complex along the Interstate 64/U.S. 40 corridor adjacent to the Maryville University campus. Scottrade purchased the addresses of 500,510 Maryville Centre, a four story, 165,000 square foot office building, and 700 Maryville Centre Drive, a five story, 215,000 square foot office building. The two parcels of land total 14 acres. The company plans to move some operations and administrative functions to the new location, which is in Town & Country. Specific details of the move have yet to be determined.
Purchasing, rather than building, new office space makes sense for Scottrade because we will be able to move into the new facility much more quickly than if we had just begun new construction, Riney said. We are pleased to have found such a great campus in St. Louis County that allows us to maintain jobs in the area. We also appreciate that St. Louis County Executive Charlie Dooley and St. Louis County Economic Council President Denny Coleman have continued their support as our plans have evolved.
We are pleased that Scottrade was able to purchase these properties, which are a part of the attractive business campus of Maryville Centre,said Toby Martin, senior vice president of Dukes St. Louis Operations. We’ve found that businesses like Scottrade enjoy the convenient location and the quality shopping, hotels and other nearby amenities. Duke is pleased to retain ownership and management of nine other buildings in Maryville Centre, which are 93 percent leased.
Town & Country Mayor Jon Dalton said he is delighted that Scottrade selected the Maryville site.
We are so pleased and proud that Scottrade has chosen to expand here, bringing quality jobs to our region and a significant investment in Town & Country, Dalton said. The City strives to serve all of our residents and businesses every day as partners in promoting an unsurpassed professional climate and quality of life.
Scottrade was represented by Tripp Hardin, SIOR, and Don Woehle, SIOR, of CB Richard Ellis St. Louis office.
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