Hertz Investment Group Leases 37,000 Square Feet in its Laclede Gas Building to McCormack Baron Salazar

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110 MBS employees will move into new quarters inside the 31-floor high-rise, near the Gateway Arch in downtown St. Louis, Missouri. The 434,912-square-foot Laclede Gas Building now has an 85% occupancy rate, says Gary Horwitz, President of Hertz Investment Group, which now holds and manages more than 1 million square feet of commercial space in St. Louis.

McCormack Baron Salazar is an extraordinary tenant that knows real estate and the value of prime location. It is a distinct honor that they have chosen to consolidate their teams in a building as fine and finely situated as the Laclede.

Hertz Investment Group, one of the largest fully-integrated real estate investment companies in North America, confirmed today that it has leased 37,000 square feet in its Laclede Gas Building in St. Louis, Missouri to McCormack Baron Salazar, one of the nation’s largest mixed-income, for-profit residential developers.

Said Hertz President Gary Horwitz: “The 434,912-square-foot Laclede Gas Building now has an 85% occupancy rate. This building, constructed in the 1960s, is in the heart of the downtown office district and about 1,500 feet from shores of the Mississippi River and the graceful 630-foot high St. Louis Gateway Arch – a stainless steel landmark known and loved around the world. McCormack Baron Salazar is an extraordinary tenant that knows real estate and the value of prime location. It is a distinct honor that they have chosen to consolidate their teams in a building as fine and finely situated as the Laclede.”

Jeff Kaiser of CB Richard Ellis represented Hertz Investment Group in the lease negotiations.

Hertz Investment entered the St. Louis market in 2005 with its purchase of the 22-story Bank of America Tower at 100 N. Broadway from Irving, Texas-based Archon Group. In September 2007, Hertz bought the Equitable building at 10 S. Broadway and in November of that year purchased the Laclede Gas Building from Sterling American Property, Inc. The Laclede Gas Building is a 31-story structure that was then and remains the corporate home of the largest natural gas distribution utility in Missouri.

Hertz Investment Group now owns more than 1 million square feet of commercial space in the City of St. Louis.

About The Hertz Investment Group

The Hertz Investment Group specializes in the acquisition, marketing and management of exceptional real estate properties with a special emphasis on downtown revitalization.

The company is privately held and is today one of the largest fully-integrated real estate investment companies in North America. Hertz currently owns and manages 20 major urban properties, representing nearly 10 million square feet of office space in the central business districts of 11 U.S. cities across eight states: Indiana (Indianapolis), Kentucky (Louisville), Louisiana (New Orleans, Shreveport, and Lake Charles); Mississippi (Jackson), Missouri (St. Louis, Kansas City), Pennsylvania (Pittsburgh), and Ohio (Columbus, Cincinnati).

Since its founding by Judah Hertz in 1979, the Hertz Investment Group has acquired and managed a diverse collection of more than 100 premier properties throughout the United States, including prominent high-rise office buildings; international market centers for fashion and jewelry; historically significant landmark properties; luxury hotels; high profile theaters and society clubs; large retail centers; and multi-family residential properties.

For more information, visit us at http://www.hertzgroup.com on the Web.

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Thomas Goff
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