One of Scott’s Addition’s largest commercial redevelopments is officially at maximum occupancy.
Nasdaq Dorsey Wright, a locally based affiliate of stock market giant Nasdaq, has signed a lease to occupy the last available 5,600 square feet in the HandCraft building at 3300 W. Leigh St.
Sara Gochenour, a Nasdaq Dorsey Wright spokeswoman, confirmed the deal, which makes the 90,000-square-foot former industrial dry cleaning building completely leased out.
Formerly known as Dorsey, Wright & Associates, the money management and investment research firm signed the deal shortly after local retailer Need Supply Co. announced it will move its headquarters to the building, taking over 20,000 square feet previously occupied by startup Evatran.
NDW will leave its office in the Boulders Office Park in Chesterfield in favor of Scott’s Addition, taking space next to consulting firm The Fahrenheit Group.
The company has 25 local employees and is looking to be moved in by the start of 2019.
Divaris Real Estate brokers Read Goode and Cheryle Toy represented the landlord in the deal, and Isaac DeRegibus of Cushman & Wakefield | Thalhimer represented NDW.
The HandCraft building’s journey toward redevelopment and full capacity began in 2014, when the dry cleaning company announced plans to move its headquarters to the West End and began fielding proposals for uses of the 72-year-old Scott’s Addition property.
Early on, HandCraft owners and brothers Jay, Keith and Jeff Nichols ruled out converting it into apartments and opted for a multicommercial tenant redevelopment. The move has netted them a variety of tenants ranging from a brewery to a publicly traded plumbing equipment giant.
Jay Nichols was unavailable for comment on Wednesday.
The total cost of the redevelopment has not been disclosed. When the project was announced in 2014, the building was assessed at $2.3 million. It most recently was assessed at $8.6 million.