Seneca CRE, LLC
When Seneca CRE, LLC President and CEO Larry Chapman began development of the Edge@West office building, the goal was to help tenants attract the best and brightest minds and to create design that supports companies’ ability to collaborate.
What he didn’t necessarily expect was how many of the decisions being made would turn out to make the Edge@West development a prime example post-pandemic office design.
“We set out to design a space that employees would love and want to work and collaborate in, thereby helping tenants draw top-tier talent,” Chapman explains. “As the COVID-19 pandemic took hold and work environments came into hyper-focus, it became more and more clear that our choices were going to work extremely well for offices of the future.”
Edge@West is a 110,000 square foot, four-story office built in the heart of St. Louis County’s Tech Corridor in Creve Coeur, MO. The location was chosen for its central location and its easy access to surrounding restaurants and retail.
Edge@West features include:
- Plasma-filtered HVAC systems, which ionize the air to kill bacteria, viruses and microorganisms;
- Large, open stairwells rather than elevators;
- Touchless entry doors;
- Bathrooms with “push each way” doors to avoid touching handles;
- Hand sanitizing stations throughout the building;
- Antimicrobial surfaces where hand touching is needed
- Private huddle rooms and sound-proof phone booths;
- Social distancing-friendly fitness center and coffee bar;
- Electric car charging stations;
- Outdoor putting green and basketball court;
- Large outdoor seating areas;
- High-speed Wifi access throughout all common areas.
“Building EDGE@WEST could not be any more timely,” Chapman says. “By anticipating tenant needs and creating a property flexible enough to easily accommodate changing tastes or other new demands such as the current COVID-19 guidelines, EDGE@WEST is an ideal commercial space for today - and into the future.”
Edge@West is a collaboration between Seneca CRE, LLC and Larson Capital Management, together with Design Builder Clayco, Inc., and architect Lamar Johnson Collaborative. In addition, Stock & Associates Consulting Engineers, Inc., and structural engineers Alper Audi, Inc. rounded out the design team.
Enterprise Bank & Trust provided lead financing for the project in what Chapman says was a somewhat unusual financing structure. The project was financed with a combination of $27.6 million of bank loans, a $3 million mezzanine financing loan, personal financing, and a $3.2 million “property assessed clean energy” (PACE) loan.
PACE loans are a means of financing energy-efficient upgrades, water conservation measures or renewable energy installations. Commercial property developers can borrow up to $3.2 million of a project, and the loan is repaid through annual property assessments rather than a monthly payment structure.
“Enterprise’s expertise and their ability to wrap their heads around the unusual financing structure of this was critical to our ability to get this done,” Chapman says. “It took a few twists and turns along the way, but my team at Enterprise stayed the course and got it done. They really understood and believed in this project.”
To learn more about EDGE@WEST, visit http://properties.cbre.us/edge-at-west. If you are interested in learning more about financing your next commercial real estate project, contact us.
