Koman Closes On St. Louis Building To House Laclede

The Koman Group received initial approval of tax-increment financing to renovate the General American Building for Laclede. | Photo courtesy of Wikimedia Commons
Laclede Gas Co. will become the new tenant of the General American Life Building. | Photo courtesy of Wikimedia Commons

The Koman Group has closed on its acquisition of the General American Life Building for $11.5 million and will bring over the Laclede Gas Co. as its only tenant. Laclede has entered into a 20-year lease for the building, under which it will pay $3.2 million a year in base rent, according to a filing with the Securities and Exchange Commission.

In December, the St. Louis Board of Aldermen approved $7 million in tax increment financing to be put toward the Koman Group’s planned $46.4 million renovation of the General American Life Building, where Laclede plans to move its 450 employees. Since 1970, the company has been in another location in St. Louis, the Laclede Building, owned by Hertz Investment Group. Laclede leases 120,000 square feet of space on nine floors of the 31-story building.

Read more from the St. Louis Business Journal

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