Local Trends in St. Louis
HISTORICAL HIGHS: CLAYTON, MID-COUNTY LEAD OFFICE MARKET RISE
(St. Louis Business Journal, 1/23)
More than 470,000 square feet of office space was absorbed during the fourth quarter in the St. Louis market. That fourth quarter uptick brought the 2014 total to 680,000 square feet of positive net absorption… Click here to read the full story.
CHESTERFIELD MALLS TALK ABOUT COMPETITION
(St. Louis Business Journal, Ben Unglesbee, 1/13)
“Cooperate and compete” were the catchwords Tuesday at an event that saw the leaders of three of Chesterfield’s biggest shopping destinations – St. Louis Premium Outlets, Taubman Prestige Outlets and the Chesterfield Mall – sitting at the same table. Click here for the full story.
CONGRESS REVIVES TERRORISM RISK INSURANCE BACKSTOP
(St. Louis Business Journal, Kent Hoover, 1/8)
Congress bolstered terrorism risk insurance this week, passing legislation that reinstated a government backstop for insurance coverage in the event of a major terrorist attack. Click here for the full story.
CLAYTON OFFICE TOWER SELLS FOR $62 MILLION
(St. Louis Business Journal, Angela Mueller, 1/6)
Duke Realty has sold the 19-story office tower at 101 S. Hanley Road in Clayton to a California-based real estate investment trust. KBS Real Estate Investment Trust II acquired the 346,451-square-foot building from Duke for $62.25 million. Click here for the full story.
THE OFFICE OF THE NEAR FUTURE
(NAR, Wendy Cole, 1/21)
After years of major companies decamping from the cities and setting up in sprawling suburban locations, the tide has turned. Click here for the full story.
COMMERCIAL MORTGAGE-BACKED SECURITIES MAKE COMEBACK
(The Wall Street Journal, Eliot Brown, 1/13)
A hunt for yield and a gradually improving property market are bolstering a key engine of U.S. commercial property lending, helping borrowers to refinance but also reigniting fears the market is getting overheated. Click here for the full story.
WHERE THE NEXT OFFICE BOOM WILL BE
Investors are turning to NERDS for the next big office boom. Click here for the full story.
COMMERCIAL REAL ESTATE GLOBAL SALES REACH NEW RECORD HIGH
Direct commercial real estate sales volumes globally reached US $218 billion in the fourth quarter of 2014, up 28% on the previous quarter and 4% higher than quarter four of 2013. Click here for the full story.
SEASONED LENDERS AND BROKERS GIVE THEIR OUTLOOK FOR 2015
(Commercial Observer, Damian Ghigliotty, 1/9)
2015 is here, and with it, the annual ritual wherein lenders and brokers stare into their respective crystal balls, trying to predict the biggest market trends in the coming year. In real estate, the temptation to forecast is especially great. Click here for the full story.
SIX TRENDS IN COMMERCIAL REAL ESTATE TO WATCH FOR IN 2015
(Urban Land, Peter Burley & David Lynn, 1/5)
While many variables will determine the course of U.S. commercial real estate, here are six potential trends for 2015 based on the current outlook. Click here for the full list of trends.
TECH OFFICE LAYOUT BLOWBACK: PARTITIONS WEREN’T SO BAD AFTER ALL
In a refreshing push-back against all things currently trendy in office layout, ad agency creative Lindsey Kaufman takes to the pages of the Washington Post today to rail against the now-popular “open office” design. Click here for the full story.