Post-Dispatch building has buyer

StarLake Holdings has signed a letter of intent to buy the St. Louis Post-Dispatch headquarters building in downtown St. Louis from Lee Enterprises, the paper reported.

Terms of the deal were not disclosed. The deal is expected to close Aug. 24.
StarLake is a holding company launched by St. Louis entrepreneur Jim McKelvey two years ago.

The Post-Dispatch will rent the fifth and sixth floors of the building, at 900 North Tucker Boulevard. Four parking lots are also part of the deal.

The six-floor building has an appraised value of $4.1 million, according to city records.  

StarLake Holdings says it will put at least $10 million into redoing the property. It will also use tax credits to renovate.

“We don’t have a specific tenant in mind but are looking for future tenants,” said John Berglund, co-founder of StarLake, the Post-Dispatch reported. “It’s a terrific building, and we’re going to try and fill it out. We’re open to uses, but I think floors three through six lend themselves to office, with the first floor and its large windows along Tucker where the presses are is ideal for some sort of (entertainment) venue.”

Berglund said he’d like to have new tenants occupying the space by mid-2019.

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