Local Trends in St. Louis
LAMPERT SEEKS REAL ESTATE SIZZLE BY SHEARING SEARS NAME
(St. Louis Post-Dispatch, 3/2)
Seritage Realty Trust’s website offers illustrations of gleaming retail properties featuring parking lots filled with cars and shoppers, promising locations “in virtually every major U.S. market.” It’s not immediately obvious that Seritage is connected to Sears, the department-store chain struggling to attract shoppers and shake off a reputation for dilapidated locations. Click here to read the full story.
COMMERCIAL REAL ESTATE NOTES
(St. Louis Post-Dispatch, 2/21)
Click here to view a list of recent transactions.
DRURY PICKED TO BUILD LANDING GARAGE
(St. Louis Post-Dispatch, Tim Bryant, 2/13)
Choosing Drury Development Corp. to build a parking garage on Laclede’s Landing boosts the prospect of a related project to construct a high-rise tower next to the Eads Bridge. Click here for the full story.
OLD ST. LUKE’S HOSPITAL FOR SALE
(St. Louis Post-Dispatch, Tim Bryant, 2/13)
For $12 million, an investor gets the old St. Luke’s Hospital site on Delmar Boulevard and the opportunity to redo the vacant complex as a mixed-use project. Click here for the full story.
IKEA GETS THE GREEN LIGHT AS TIF IS APPROVED
(St. Louis Post-Dispatch, Tim Bryant, 2/8)
Ikea’s plans to open a St. Louis store next year moved ahead Friday when a city panel voted to back a $32 million tax incentive for the project. Click here for the full story.
Press clippings courtesy of the St. Louis Regional Chamber
REAL ESTATE INVESTORS REDISCOVER RISK
(Forbes, Carla Passino, 3/5)
The tide has changed in real estate investments. Until last year, wealthy buyers were primarily looking at property as a safe haven for their capital, a trend that had started after the credit crunch and ensuing real estate market crashes. Click here to read the full story.
SUBORBITAL COMMERCIAL SPACEFLIGHTS COULD TRANSFORM GLOBAL REAL ESTATE
(inmanNEWS, Adrian Bishop, 3/4)
Space travel could make a world of difference to the overseas property market within the next decade, says a leading agent. With suborbital flights able to cut the London-to-Sydney journey time down from 21 hours in an aircraft to 2.2 hours, global property markets could radically shift, says the 2014 Wealth Report from Knight Frank, which is being published on Wednesday. Click here to read the full story.
AFFLUENT INVESTORS EYE COMMERCIAL REAL ESTATE
(Financial Planning, Ann Marsh, 2/27)
A study of 500 mass affluent investors found that 83% believe commercial real estate is poised to outperform or equal the equity market’s returns. Click here to read the full story.
STRATEGIES FOR THRIVING IN SMALLER MARKETS
(NAR, Commercial Connections Podcast, 2/25)
Peter West, ABR, CCIM, CRS, GRI has been a REALTOR® since 1984 and is currently Vice President at BW Commercial in Adams, Massachusetts. A REBAC Hall of Famer, West has worked in many areas of real estate and is a popular speaker at real estate events all over North America. In this podcast, he speaks about why it pays to pay attention to zoning boards and how to use your website to maximize your real estate credentials. Click here to listen to the podcast.
COMMERCIAL REAL ESTATE OUTLOOK POSITIVE BY MODERATING
(NAR, Walter Molony, 2/24)
Market fundamentals in commercial real estate continue to improve but at a slower pace, according to the National Association of REALTORS® quarterly commercial real estate forecast. Lawrence Yun, NAR chief economist, said fundamentals are still on an uptrend. Click here for the full story.
IS THE REAL ESTATE EARLY BIRD INVESTMENT STRATEGY MAKING A COMEBACK?
(Property Forum, Mark Benson, 2/24)
Over the years we have seen a number of real estate strategies and trends come and go, we have seen multimillionaires fall by the wayside and there is no doubt that property downturns have left many people financially crippled.Click here for the full story.
YEAR-END SALES TRENDS CONTINUE COMMERCIAL REAL ESTATE PRICING GAINS IN 2013
(CoStar Group, Tim Trainor, 2/19)
In the latest CoStar Commercial Repeat Sale Indices (CCRSI) analyzing property sales through December 2013, found that the recovery in U.S. commercial real estate markets advanced in 2013 as broad gains in net absorption, rents, sales activity and pricing extended across markets and property types during the year. Click here for the full story.
10 BUSINESS-BUILDING TIPS FROM CCIM LIVE!
(CCIM, Rich Rosfelder)
CIRE magazine shares 10 lessons gleaned from some of the world’s top commercial real estate professionals during the CCIM Live! conference. Click here to read the full post.
(CCIM, Ian S. Bolton)
Although the basic ingredients for commercial leases are the same, they can vary widely in length and number of issues covered. While many aspects of landlord-tenant agreements are tried and true, what happens when an aggressive and creative landlord – or more likely the landlord’s attorney – inserts a provision into the lease that is unusual and then tries to enforce that provision through litigation? Click here for the full article.
BIG YEAR PREDICTED FOR COMMERCIAL SUCCESS
Commercial real estate investments are expected to produce solid returns this year, according to an annual forecast report released by the Real Estate Research Corporation, Deloitte, and the National Association of REALTORS®. Click here for the full story.
INSIGHTS ON INLAND REAL ESTATE GROUP
(NAR Commercial Connections Podcast, 2/13)
The Inland Real Estate Group of Companies, Inc., is an industry leader and one of the nation’s largest commercial real estate and finance groups. This podcast features Joseph Cosenza, Vice Chairman, Director, and one of the four original principals of The Inland Real Estate Group, Inc. Joseph discusses how the four original principals started out as high school teachers and became Walmart’s largest landlord in the country. He also speaks about his firm’s method for surviving 40 years of up and down economies and what it took to become a company that now employs 1,400 people with over $20 billion in assets nationwide. Click here to listen to the podcast.
COMMERCIAL REAL ESTATE INVESTORS “CAUTIOUSLY OPTIMISTIC” AS THE FUTURE UNFOLDS, ACCORDING TO NEW OUTLOOK REPORT
(Digital Journal, 2/12)
Commercial real estate investments are expected to produce generally solid returns in 2014, according to the authors of Expectations & Market Realities in Real Estate 2013 – The Future Unfolds, an annual forecast report released by Real Estate Research Corporation (RERC), Dolitte, and the National Association of REALTORS® (NAR). Click here for the full story.
REAL ESTATE CROWDFUNDING FUNDAMENTALS
(NuWire Investor, Jilliene Helman, 2/12)
“Crowdfunding” for real estate is, at bottom, just another way of pooling money together from a group of investors in order to make an investment. The distinction now is that the ease of communications made possible by the internet has increased the potential reach of such pools so that they can extend out to investors across the country. Click here for the full story.
ONE OF L.A.’S PRICIEST PLOTS IS IN A CEMETARY
At $10,300 per square foot, one of Los Angeles’ priciest pieces of real estate is not a home – but a cemetery plot. Click here for the full story.