McBride Homes Makes Move Within Chesterfield

From the St. Louis Business Journal

December 17, 2010

McBride Moves to New Headquarters

After almost 25 years in its corporate office space along Chesterfield Airport Road, McBride & Son Homes, the largest homebuilder in Missouri, is finding its own new home a few miles away.

McBride committed to a 20-year lease to occupy 15,000 square feet of space in the Herman Stemme I building at 16091 Swingley Ridge Road in Sachs Properties' Chesterfield Village. McBride's lease will cost an estimated $3.75 million over the next 10 years, based on an asking rental rate of $25 per square foot, according to the Building Owners & Managers Association. The company currently leases about the same amount of square footage at 1 McBride & Son Corporate Center.

McBride Chairman and Chief Executive John Eilermann Jr. said the stabilizing residential home sales market prompted the company's headquarters shift. He said the company is on track to sell 1,200 homes in 2010, up from 967 homes sold locally in 2009.

"We believe the new-home market has bottomed and expect even better results in 2011," he said. "Our confidence going forward is reflected in the new long-term lease at Chesterfield Village."

Sachs is currently handling tenant improvements of the new office space, which encompasses the building's third floor.

Jamie Marx represented Sachs Properties in the transaction. Steve Tharpe of Discovery Group represented McBride & Son.

Eilermann said 90 employees would be making the move into a new home early next year. McBride employs 500 people companywide.

McBride is one of the largest privately held companies in St. Louis with $302 million in revenue in 2009 and 64 communities in St. Louis and St. Charles counties and metro Illinois. Eilermann said he expects 2010 revenue to be up compared to last year.