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re: AT&T Building in St Louis Just Sold
Posted on 4/12/24 at 10:38 am to SlowFlowPro
Posted on 4/12/24 at 10:38 am to SlowFlowPro
quote:
AT&T had a parking garage partner. When AT&T left the building, the garage no longer wanted to partner with an empty building. So there’s just 44 spots in a small underground garage for a 44 story building.
This is a huge functional obsolescence for that property and is likely part of the huge value decline. That and the developer’s use change which would incur huge buildout costs to get it tenable.
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