ST. LOUIS — Larson Capital Management plans to invest $16.5 million in the half-vacant downtown building at 100 North Broadway.
A fund affiliated with the Chesterfield firm purchased the 23-story building with Clayton-based Hermann Companies in early 2020 for $19.9 million. Larson Capital LLC plans to acquire the building and hopes to grow the 250-employees there now to just more than 500, according to a report from the St. Louis Development Corporation.
to the building from its offices at 14567 N. Outer 40 Road, according to the . The building had been Hardee's headquarters before the fast-food chain moved to Tennessee. The building went into receivership after its previous owner defaulted on a loan.
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Larson is seeking 10 years of tax abatement worth 80% of the building's improvements. The building is within an Opportunity Zone, a new federal designation that offers capital gains tax benefits for investors.
