ST. LOUIS, Jan. 27, 2014 /PRNewswire/ -- The Laclede Group, Inc. (NYSE: LG) today confirmed its new home in downtown St. Louis at the 700 Market building. Many factors contributed to the decision to move, including the recent acquisition of Missouri Gas Energy.
"We knew we needed different space, one that reflects our growing company. 700 Market will provide us with the kind of environment that fosters collaboration and efficiency, and helps attract and retain top talent to continue to drive value for customers and shareholders," said Suzanne Sitherwood, president and CEO of The Laclede Group. "Laclede has been downtown for more than 100 years. We look forward to remaining downtown and we're excited to be a part of revitalizing this building, a true gem in this city."
Together public and private support are bringing this building back to life. The Koman Group purchased the building from its previous New York owner. During the coming year, an HOK architecture and engineering team will make building updates. Arcturis architects and designers will work directly with The Laclede Group to update spaces inside and outside the building while keeping with architect Philip Johnson's vision. Centered between the future CityArchRiver and Ballpark Village, 700 Market adds to the momentum of public-private partnerships transforming the downtown landscape.
"The City of St. Louis is proud to have such a long-standing pillar of our community like Laclede demonstrate its commitment to the future of our great city. The revitalization of 700 Market contributes to our vision of making downtown St. Louis the place to live, work and play," said Mayor Francis Slay.
The 127,000-square-foot building, vacant for more than a decade, features large open areas that are best-suited for a single tenant such as Laclede. Employees will move into this space starting in early 2015. These positions will come from various offices across the St. Louis metro area and new positions related to the company's growth. This comes at the same time Laclede is accommodating another move from its Forest Park Parkway location. Earlier this year, Laclede agreed to sell this property to help the City of St Louis secure the new IKEA site in St. Louis' urban core and all the jobs that it will bring to the community.
ABOUT THE LACLEDE GROUP The Laclede Group, Inc. (NYSE: LG), headquartered in St. Louis, Missouri, is a public utility holding company. The Gas Utility segment serves St. Louis and eastern Missouri through Laclede Gas and serves Kansas City and western Missouri through Missouri Gas Energy. Together they provide more than 1.13 million residential, commercial and industrial customers with safe and reliable natural gas service. Laclede's primary non-utility business, Laclede Energy Resources, Inc., included in the Gas Marketing segment, provides non-regulated natural gas services. Laclede Group is committed to pursuing growth through 1) developing and investing in emerging technologies; 2) investing in infrastructure; 3) acquiring businesses to which the Company can apply its operating model, and 4) leveraging its current business unit competencies. For more information about Laclede and its subsidiaries, visit www.TheLacledeGroup.com.
SOURCE The Laclede Group, Inc.