In The News

Cupples 9 building opens with 3 new tenants, 99 percent leased

The Koman Group has landed three new tenants — Yurbuds, Flying Saucer Draught Emporium and Pedal The Cause — for its recently opened Cupples 9 building.

The new leases bring occupancy of the seven-story, 147,000-square-foot building to 99 percent.

Cupples 9, at 900 Spruce Street in downtown St. Louis, was redeveloped for $30 million by Koman Group in partnership with anchor tenant Osborn Barr, an agricultural marketing communications firm.

Osborn Barr occupies 66,000 square feet. Other tenants include Asynchrony Solutions, an information technology and software development company, with 44,000 square feet, and Mackey Mitchell Architects, with 12,500 square feet.

New tenant Yurbuds is a developer and marketer of earphones for athletes. The company has about 40 employees and is moving to 9,000 square feet of space in Cupples from the Center for Emerging Technologies, a St. Louis business incubator.

Flying Saucer Draught Emporium, a Dallas-based restaurant and bar concept featuring hand-crafted beers, has 6,600 square feet of street level space. Flying Saucer owns and operates 16 micro-breweries in Texas, Missouri, Arkansas, Tennessee and North Carolina.

Pedal The Cause is a charity group that organizes annual communitywide cycling fundraisers. It was founded in 2009 by Bill Koman, president of The Koman Group, who is a two-time lymphoma survivor. The organization is moving to Cupples 9 from Creve Coeur and will occupy 1,800 square feet.

Josh Udelhofen of Koman Group is listing agent for the remaining 2,000 square feet of office and retail space on the first floor of Cupples 9.

The project was financed by Enterprise Bank, Great Southern Bank, The Private Bank, Central Bank of Kansas City, US Bank Community Development Corp., Enhanced Historic Credit Partners and Lisart Capital.

Transit-Oriented Historic Rehab Provides Affordable Housing in Minneapolis

In a Minneapolis neighborhood where affordable housing needs are unmet and many historic buildings are demolished in favor of new construction, Dominium found a solution to address both issues. The Minnesota-based developer leveraged low-income housing tax credits (LIHTCs) and federal and state historic tax credits (HTCs) for its recently completed adaptive reuse of a 1920s factory and warehouse into Millworks Lofts.

Millworks Lofts re-opened Aug. 1 and achieved 100 percent occupancy of its 78 apartments within a month. The speedy lease-up indicated a pent-up demand for more affordable housing in Minneapolis, said Eric Omdahl, development associate for Dominium.

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Historic Post Office Transformed into Mixed-Use Development in St. Paul

When the post of ce in downtown St. Paul, Minn., was recently preserved and repurposed, development owner Exeter Group paid homage to a different aspect of the building when converting the property into a mixed- use development with market-rate apartments, a parking garage, retail space, a self-storage business and a hotel.

The development is named Custom House after the old U.S. Customs Service of ce on the building’s sixth oor that issued visas and passports. The 17-story building was built in phases in 1934, 1939 and 1961. The building functioned as the city’s main post of ce for 79 years, until its last postal operations moved out in 2013. The remaining oors were used as of ce space for various government agencies and the building’s annex was used to sort mail.

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