ST. LOUIS — The new owner of Peabody Plaza in downtown St. Louis has signed a restaurant tenant to a five-year lease.
Briar Meads Capital, which bought 701 Market St. for $35 million earlier this year, said Ukraft will occupy about 2,000 square feet and open later this year.
The cafe concept, which serves soups, salads, sandwiches and smoothies, joins Windows on the Peabody Plaza, a new concept from Windows on Washington owner/operator Tom Klein.
The activity comes as the downtown office submarket has the highest vacancy rate in the region at 19.3%, according to second quarter data from Cushman & Wakefield.
Ukraft owners, brothers Matt and Mike Ratz, are unfazed by the soft submarket. Its Clayton location, in the Regions Centre in Clayton, has already experienced declining sales due to the COVID-19 pandemic.
Instead, the restaurant is focused on catering and delivery along the Interstate 64/40 corridor. Matt Ratz said the downtown location will target hospital systems in the Central West End.
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