Local Trends in St. Louis
A NEW LOOK AT ST. LOUIS OFFICE BUILDINGS
(St. Louis Post-Dispatch, Tim Bryant, 4/11)
Each year, Jones Lang LaSalle, the global financial and professional services firm based in Chicago, puts out a series of reports it calls the Skyline Review. The reviews examine trophy and Class A office buildings that drive the office market in their cities. Click here for the full story.
UMSL HOPES $14 MILLION STREET PROJECT WILL ATTRACT NEW BUSINESSES
(St. Louis Business Journal, Greta Weiderman, 4/10)
What started as a $1 million grant from the St. Louis Great Streets initiative in 2007 has turned into a $14 million project that will rehab a 3-mile corridor of Natural Bridge Road, a project University of Missouri-St. Louis officials hope will be a catalyst for redevelopment in the area surrounding the school. Click here for the full story.
HIGH-RISE APARTMENTS PLANNED FOR CLAYTON
(St. Louis Post-Dispatch, Tim Bryant, 4/05)
A 26-story luxury apartment building planned for downtown Clayton is the latest foray into the market for modern high-rise living int he St. Louis area. Jerry Crylen – a developer behind the $75 million Clayton project, called The Crossing – said construction of the 250-unit building should begin this fall. Click here for the full story.
COMMERCIAL REAL ESTATE NOTES
(St. Louis Post-Dispatch, 4/04)
Click here for a list of this week’s transactions.
NEW CLOSING DATE SET FOR RENAISSANCE GRAND COMPLEX
(St. Louis Post-Dispatch, Tim Bryant, 4/04)
April 15 is the latest closing date for the sale of the Renaissance Grand convention hotel complex in downtown St. Louis. Officials said in late February that the deal would go through by the end of March. Click here for the full story.
THE QUANTIFIED COMMUNITY: TAKING ACCOUNT OF IT ALL
(theSOURCE, 4/21 Wayne Grohl)
Once you start counting things, it can be hard to stop. Commercial property in operation presents a huge number of things to count, and it’s only with modern technology tools that we can handle the data on an ongoing basis. Click here for the full story.
REVERSE MIGRATION STILL A FORCE SHIFTING THE URBAN-SUBURBAN BALANCE
(theSOURCE, Wayne Grohl, 4/17)
Population trends in many major metro areas include a reversal of the traditional flow of adults from urban centers into suburban enclaves. Increasingly, these suburbs are graying demographically while thirty-something workers and apartment dwellers prefer to stay close to the urban action. Click here for the full story.
WORKING ON THE RAIL-TRAIL
(REALTOR® Mag, Graham Wood, April 2014)
His extensive knowledge of the converted railroad-to-trail system in Northampton, Mass., has turned Craig Della Penna into the go-to expert on the history of his area (not to mention the go-to real estate pro). Click here for the full interview.
THE EFFECTS OF COMMERCIAL REAL ESTATE INVESTING WITH RISING INTEREST RATES
(Realty Biz News, Brian Kline, 4/16)
Both interest rates and inflation can be expected to have an effect on commercial real estate investing for months and possibly years to come. With positive economic data spanning most of the country, the Federal Reserve announced back in December that it would back off from its bond-buying program. Click here for the full story.
REAL-ESTATE CROWDFUNDING FINDS ITS FOOTING
(The Wall Street Journal, Andrew Blackman, 4/13)
Before last year, Ed Medley had never invested in commercial real estate. Now, he’s a part-owner of shopping malls, mobile-home parks and apartment building from Los Angeles to Tennessee. Click here for the full story.
OVERVIEW AND OUTLOOK FOR THE HOSPITALITY INDUSTRY
(NAR Commercial Connections Podcast, 4/10)
Daniel H. Lesser, President and CEO of LW Hospitality Advisors, LLC (LHWA), has more than 30 years of experience in the hospitality industry. In this podcast, Lesser discusses the volatility and market direction of the hotel industry. He also gives advice on the best places to start if you’re considering getting involved in the hospitality market. Click here to listen to the podcast.
ENHANCING A COMMERCIAL REAL ESTATE CAREER THROUGH READING
(Commercial Observer, Robert Knakal, 4/8)
I have been quoted several times as saying that I believe reading is a key ingredient in the life of a real estate professional. Click here for the full editorial.
NEW EUROPEAN-COMMERCIAL-PROPERTY LENDERS DON’T LOOK LIKE BANKS
(WSJ, Alessia Pirolo, 4/8)
A new breed of lender is playing a more important role in Europe, as the rebound in the commercial real estate market begins to expand from traditional areas of strength, like London and Frankfurt, to other markets. Click here for the full story.
REAL ESTATE SITE TARGETS UNDESERVED COMMERCIAL SWEET SPOT
(CNBC, Diana Olick, 4/8)
They are the vast majority of the office market, and yet they are sorely underserved: small-business tenants who need smaller office spaces. Click here for the full story.
The Extinction of Shopping Malls?
Tea leaves at the ready, quite a few heavy hitters in commercial market prognostication have envisioned the US marketplace circa 2039. One in particular caught my eye: As Ken Riggs, CEO of Real Estate Research Corp. puts it: “Most shopping malls will be extinct.” Click here for the full story.
COMMERCIAL REAL ESTATE FORECAST 2014-2015
(Forbes, Bill Conerly, 3/27)
Private non-residential construction is growing at a fairly strong pace, except in comparison at its peak. Total dollars spent have increased by nearly ten percent in the past 12 months. Click here for the full forecast.
COMPELLING VALUE, COLLABORATION, AND COMMUNITY
Host Alex Ruggieri, CCIM, speaks to Lloyd Berry, CCIM, the Director of Operations for Colliers International management division. They discuss Berry’s top three pieces of advice that have contributed to the success of his firm: creating a unique and compelling market value proposition, collaborating internally, and contributing to your local and international community. Click here to listen to the podcast.
REAL ESTATE’S LOVE/HATE RELATIONSHIP WITH TECHNOLOGY
(Commercial Observer, Riggs Kubiak, 3/26)
It’s no secret that the real estate industry is relatively averse to new technologies. It’s understandable, of course, given the tried and true methods of paper RFP’s, building interpersonal relationships, steak dinners and offline transaction. Click here for the full story.
7 BOLD COMMERCIAL REAL ESTATE PREDICTIONS
(CNBC, Robin Micheli, 3/24)
Conjuring the future of commercial real estate begins by conjuring our future. How will we work, live, shop or do business? Click here for the predictions.
COMMERCIAL REAL ESTATE COMEBACK
(American Banker, Robert Stowe England, 3/24)
Commercial real estate lending has officially made a comeback at SunTrust Banks. The Atlanta-based regional banking company posted a 20% annual increase last year in average performing loans backed by CRE, with about half the rise coming int he fourth quarter. Click here for the full story.
HOW COMMERCIAL REAL ESTATE IS GOING TO BE TOTALLY DIFFERENT GOING FORWARD
(Design & Trend, Michael Thrasher, 3/24)
Commercial real estate has a tremendous influence on workers but is also reactionary to how people want to work, play and shop. To get a sense of where the market is headed, CNBC asked a number of experts what they thought the future holds. Click here for the full story.