Colliers Turley Martin Tucker Closes $20 Million Essence Lease

Colliers Turley Martin Tucker (CTMT) announced completion of one of the area’s largest commercial leases to-date in 2009. David Kelpe, CCIM, SIOR and Art Kerckhoff, CCIM of CTMT, represented Essence Healthcare in the lease of 104,740 square feet of office space, located at 13900 Riverport Drive in Maryland Heights, valued at $20 million from Duke Realty Corporation.

Privately held Essence Healthcare was represented by Kelpe and Kerckhoff of CTMT in the 10-year lease which commenced May 1, 2009. The property in Maryland Heights, Missouri is the former home of Express Scripts who recently completed its move to the University Missouri St. Louis campus. With over 104,000 square feet in three stories of fully furnished office space, the building offers ample room for this fast growing company to expand.
 
“A transaction of this magnitude is a win-win for everyone and retaining headquarters in St. Louis only strengthens the region’s vitality,” says David Kelpe, CTMT representative. “In addition, the space is centrally located, and its ‘open office’ structure offers an abundance of natural light.”
                                                        
Essence Healthcare, a health maintenance organization (HMO), is consolidating two offices in Creve Coeur and will relocate company headquarters to the Riverport Business Park. The company manages health service plans for Medicare patients and was formed in 2004 as an offshoot of Esse Health, a local physician group practice. Essence Healthcare employs over 200 people locally, serves five states with over 25,000 beneficiaries and continues to grow at a healthy pace.
 

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