St. Louis advertising agency Schupp Co. has laid off more than a dozen employees and is looking to lease or sell part of its downtown headquarters following the loss of its major client, MillerCoors.
The company has tapped Colliers International to lease two vacant floors of the three-story building, or sell the building in its entirety, according to a marketing flier. The lease rate is $20 a square foot, and the asking sale price for the 42,000-square-foot building is $2.3 million.
Schupp Co. is the building’s only occupant. Its offices are located on the first floor. The company’s current headcount is about 15. Last summer, the agency had 40 employees, according to St. Louis Business Journal research at the time.