Cigna's pharmacy benefit manager Express Scripts' St. Louis (Mo.) County headquarters has been sold for $36 million just as the company renewed its lease, the St. Louis Business Journal reported Jan. 18.
The 316,541-square-foot office building on a 6.66-acre site was bought by Colorado-based Arsenault Holdings. The seller was One Express Way. Los Angeles-based National Asset Services had marketed the building since 2018.
Express Scripts renewed its lease of the building in the fourth quarter of 2022, according to the report. Terms of the lease were not disclosed. National Asset Services told the news outlet that increased marketability of the property due to Express Scripts' renewal — along with cooperation from the lender — allowed it time to find the right buyer.
Express Scripts uses about 310,000 square feet of the office space, according to the report.