OPTIONS ABOUND AT WESTPORT PLAZA

Just west of downtown St. Louis, Westport Plaza offers a diverse mix of uses to the city’s inhabitants. The approximately 700,000-square-foot development, owned by Chicago-based Golub & Company and a mainstay in St. Louis County for more than 30 years, features 550,000 square feet of office space, an expansive collection of dining and entertainment venues, and 500 hotel guestrooms on-site operated by different ownership.

“While Westport Plaza has incredible synergy, the separate components are mature enough that they attract customers for their own unique reasons,” says Tom Ray, a vice president with CB Richard Ellis (CBRE) and head of leasing for the office portion of the property. Located at the interchange of Interstate 270 and Page Avenue, which was recently extended approximately 10 miles west into St. Charles County through a $365 million infrastructure improvement, the property benefits from great visibility.

Westport Plaza is a true example of a 24/7 center, with workers occupying the parking structure and offices, and visiting the more than 18 restaurants on site, by day, and consumers coming in and taking advantage of the entertainment and dining options each night.

The retail portion of the building has carved a unique niche out in the market, according the Ann Dulle, an associate in brokerage services with CBRE and head of retail leasing at Westport Plaza. “The retail is very unique for this area; there are a lot of local players participating,” she says. “Over the years, it has become the location for sports celebrity restaurants.” St. Louis Cardinals Hall of Famer Ozzie Smith has a restaurant in the center, as does current Cardinal star Albert Pujols, having recently unveiled his Pujol’s 5 concept. Other restaurants include Dierdorf & Hart’s, St. Louis Bread Co., Kobe Japanese Grill, Casa Gallardo, Starbucks, McDonalds, Coldstone Creamery and a collection of high-end dining options. As for entertainment, Westport Plaza boasts a comedy club, a theater and pubs to enhance its draw as a nightlife destination.

The local flavor and variety helps draw continued interest from existing and prospective users. “Retail tenants love it here and come back with new concepts that they want to bring to Westport,” Dulle says.

Though the retail component is a major draw, the office space is the most important piece of the puzzle. In the past 2 years, CBRE has brought the occupancy level in the community’s four office buildings up from 70 percent to approximately 93 percent. According to Ray, the flight to quality that drew a swarm of Class B tenants into Class A space during the recent recession provided a big boost to leasing efforts, but the center’s vast amenities and high-quality space remains the primary selling point.

The center boasts a couple of anchor tenants, including American Healthways, Northrop Grumman and Wolters Kluwer, but it seeks a different kind of tenant for the majority of the office complex. “Our bread-and-butter tenant is in the 3,000 to 5,000-square-foot range,” Ray says. “We target Class A tenants that have a lot of visitors, whether it is visiting clients, incoming management or customers.” The complex’s 500 hotel rooms creates a unique ability for the businesses to offer visitors accommodations, and the retail provides for any other need there is to be filled.

As for the future, Ray says that there are preliminary discussions for an additional office tower, which would include a heavy pre-leasing component to be viable, as well as the possibility of a collection of retail outparcels for new restaurants and services.

— Kevin Jeselnik