A lot has gone on inside Armory STL.
The grand 250,000-square-foot edifice was originally built in 1938 to house the 138th Infantry Missouri National Guard Armory, complete with lower-level parking for tanks and other military vehicles. Over the years, it has hosted the St. Louis Tennis Club, national bowling tournaments, countless indoor sports leagues and big-named concerts by the likes of The Byrds, Ike & Tina Turner and the Grateful Dead.
Eventually, though, the armory fell into disrepair. In 2016, Green Street Real Estate Ventures bought it and pumped $60 million into renovating the place, opening the doors last year to what is now the largest indoor entertainment venue in St. Louis. The transformation earned the project a 2023 CoStar Impact Award, judged by real estate professionals familiar with the market.
It wasn't easy. Green Street had to overcome a pandemic, a spike in construction costs and myriad supply chain issues to stay on schedule. But in just a few months of operation, more than 150,000 people have entered to eat, drink, play games and hear a new generation of musical artists. And this is only phase one of a larger entertainment plan.
"This development stabilizes the soon-to-be renowned Entertainment District that is growing in the heart of Midtown," wrote Impact Award judge Alex Zvibleman, an investment broker at SVN | Infinity Commercial Group. "This building has sat vacant for too long and now is a beacon of opportunity as people drive through downtown St. Louis on Highway 64/40."
About the property: The Armory features six acres of entertainment space, including a 60-foot stage to host live entertainment acts, six bars with more than 70 tap handles, more than 40 interactive games, a two-story slide, VIP event spaces and more. It will also eventually be home to the St. Louis Tennis Hall of Fame.
What the judges said: "The redevelopment of Armory STL is transformational for the city of St. Louis. Not only did the project overcome significant challenges in renovating a 250,000-square-foot building previously used for military purposes, but the developer also identified a void in the city of St. Louis that is proving to be a great success in just its first three months of opening," wrote Rachel Seigert, associate director for commercial real estate in the Washington University Office of Real Estate.
They made it happen: Green Street Real Estate Ventures owns and manages Armory STL.
