https://www.ksdk.com/article/news/local/business-journal/att-tower-downtown-st-louis-new-owner-according-to-city-documents/63-b177f529-be1b-4155-b18b-75050fb4f36a Was sold 2022. Why is Saint Louis a HUB location ?The building was ultimately foreclosed by US Bank after AT&T's departure and, on April 25, 2022, the building was sold for $4.05 million to SomeraRoad, a New York-based developer
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https://www.ksdk.com/article/news/local/business-journal/att-tower-downtown-st-louis-new-owner-according-to-city-documents/63-b177f529-be1b-4155-b18b-75050fb4f36a
Old news, actually, this was one of the best business deals T has ever made.
The building in the article is 909 Chestnut in St. Louis (called one bell center). Southwestern Bell built the building in 1986 at a very low cost due to city incentives. Then recognizing and even promoting work from home in the early 2000's, T started selling their office buildings and sold 909 Chestnut for $205 million in 2006 with the caveat that they would lease the building for 10 years.
With the workforce working from home 50 percent of the time, they promptly moved everyone over to 1010 Pine next door (which is the original SWBT headquarters) for part time worker office space.
In 2022 (when this dated article was released) the 7 year vacant (since T's lease expired) 909 Chestnut building was sold by Inland American Real estate for $4.05 million at an 80 percent loss.
Now you know the story and it has NOTHING to do with T moving the IT hub out of St Louis!
"The data center you might be able to make a case for but there’s a LOT of IT folks in STL"
The thing is, Legg has already said St. Louis's days are numbered for his org, and since it's his people occupying the data center today, that implies to me that the data center is going to close.
Man, the Chicago peeps are furious!
Once again a lot of bad information on here……. 1010 pine is a tandem Central Office and won’t be sold it can’t be without a lot of work to move circuits to leg T office on olive which will never happen……. The data center you might be able to make a case for but there’s a LOT of IT folks in STL even more than Chicago and many others. We’ll see what they do I really can’t see the demise of STL it’s ready to host folks and has parking unlike Dallas and Atlanta……of course we’ll probably do what makes the least amount of sense anyway
That building has long been abandoned by AT&T. They sold it decades ago and later gave up their leaseback. The building to the left in the photo (1010 Pine) and the building to the right (Data Center) are were most St. Louis employees are.
I was told is slated to be shut down in 2024. They’re not moving people there, but they’re not forcing them to move for this wave. Payroll is there for now, will also be forced to relo 2024.
They know that nobody in their right mind would want to go to St Louis, so it’s an easy way to reduce headcount.
T owns very few of their office buildings. The Dallas HQ was sold and leased back many years ago. Same for Atlanta Lenox.
Mostly they just want to maintain the existing SL workforce as of now and not move additional people there. They will get to that later, once this initial reduction is completed.