Acquisition of NAI Global by C-III Capital Partners is Complete
Feb 8th
St. Louis, Missouri, January 30, 2012 — NAI Global, the global affiliate of local commercial real estate company NAI DESCO, announced that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been completed. The transaction will help create a leading fully integrated commercial property services company that will operate in markets around the world.
NAI Global will continue to operate as a separate company under its current management. C-III will accelerate NAI Global’s growth by exploring business development opportunities in strategic locations, including New York, London, Singapore and other primary global business centers. It will also invest in the growth of the corporate solutions and capital markets offering, expanding asset/property management, project/facilities management and valuation services worldwide.
Mark Schnuck, president of NAI DESCO says the benefits of the acquisition are two-fold, “Our clients (NAI DESCO) will benefit from the strength of the relationships that will come from NAI Global’s new association with C-III.” He added, “In the real estate business, relationships are key and with this acquisition our network of contacts dramatically increases providing our clients with an expanded portfolio of opportunities. The infusion of resources, from financial to technology equipment and expertise, will enable NAI DESCO to pursue upgrades in services that will enhance our ability to meet and exceed the needs of our clients.”
NAI DESCO Acquires Coldwell Banker Commercial
Dec 12th
Commercial real estate firm NAI DESCO announced it will increase its inventory and agents by 50 percent with the acquisition of competitor Coldwell Banker Commercial’s St. Louis brokerage division.
NAI DESCO is a full-service brokerage firm offering a wide range of services to institutional and individual owners of real estate as well as tenants and buyers. The firm focuses on corporate real estate services and brokerage of industrial, medical, office, retail and investment properties.
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NAI Chief Economist: European Debt Crisis
Nov 3rd
‘Europe’s sovereign debt crises are changing daily, yet are making little progress toward long-term solutions. The only questions are when, how and who will be left holding the bag?’ asks NAI chief economist Dr. Peter Linneman. In his new white paper, Dr. Linneman discusses the potential effects the debt crisis in Europe will have on the commercial real estate industry. The following is an excerpt:
Why is it that drops in asset values associated with impaired debt undermine economic activity far more than larger drops in equity values do? For example, during the tech bubble and the subsequent crash, $5 trillion in economic value disappeared over 30 months on the U.S. stock markets. This dwarfs the decline in asset values associated with impaired debt during the financial crisis, which are perhaps $1-2 trillion. Yet the real economy quickly regained its balance even after trillions of dollars were wiped out on the stock market, while far smaller losses via impaired debt have constipated economies across the globe. No clearer example exists than Japan over the past 21 years. And now Europe is following suit.
The reason is that when equity value disappears, it is the end of the story. People feel poorer, pick themselves up, dust themselves off, and focus on recreating value by new productive economic activities. In contrast, when value is destroyed via impaired debt, debt contracts allow participants (think: Europe) to argue endlessly about who will bear the burden, rather than spending their resources moving forward.
Read the entire article here.
If you like what you read, stay tuned to the NAI DESCO website for information on Dr. Linneman’s next webinar.
NAI DESCO Quarterly Industrial Report Now Available
Oct 17th
After vacancy rates decreased to 7.9% at the end of 2010 compared to 10.6% at the end of 2009, industrial vacancy rates have once again risen to 8.8% at the end of Q3 2011 with negative net absorption. New construction starts have picked up again throughout 2011, with over 500,000 square feet delivered to the market in Q2 & Q3 2011, and 139,000 square feet currently under construction.
Rental rates in the industrial market have declined steadily throughout the year, settling at $4.06 per square foot at the end of Q3 2011 compared to an average of $4.20 per square foot at the end of Q3 2010.
Click here to read our full St. Louis metro industrial report, featuring detailed submarket information and major transactions from the quarter.
NAI DESCO Quarterly Retail Report Now Available
Oct 17th
NAI DESCO is pleased to announce that our 3rd Quarter 2011 Retail Report is now available.
The metro St. Louis retail commercial real estate market is still undergoing a transition period at the end of Q3 2011 as the overall economy remains shaky. On the bright side, vacancy rates continue to decrease and are down to 7.9% across all retail sectors. However, restricted lending and a troubled economy continue to create a slight downward pressure on average asking rates across all sectors, which have dropped from $12.36 per square foot at the end of Q3 2011 from $12.51 per square foot at the end of 2010.
No new square footage was delivered to the market in in Q3 2011, however 323,292 square feet are currently under construction, It will remain to be seen how this additional space will affect the retail market moving into 2012.
Click here to read our full St. Louis metro retail report, featuring detailed submarket information and major transactions from the quarter.
NAI DESCO Quarterly Office Report Now Available
Oct 17th
NAI DESCO is pleased to announce that our 3rd Quarter 2011 Office Report is now available.
The overall office vacancy rate at the end of Q3 2011 was 12.4%, showing a 1% downturn over the vacancy rate as of a year ago. The Fenton and Manchester/270 submarkets maintain some of the lowest office vacancy rates in the metro St. Louis area, while the Earth City submarket reflects some of the highest vacancy rates.
Over the entire metro St. Louis market, asking rates at the end of Q3 2011 were $17.95 compared to $18.65 at the end of Q3 2010, suggesting the market may not improve for landlords for some time to come.
Click here to read our full St. Louis metro office report, featuring detailed submarket information and major transactions from the quarter.
Industrial Building leased to DACCO/Detroit of Missouri
Sep 29th
Floyd Sweeney of NAI DESCO recently completed the lease of an 8,000 square foot industrial building at 2677 Metro Blvd in Maryland Heights, MO. The space was leased to DACCO/Detroit of Missouri, Inc. Sweeney represented the owner in this transaction.
Brouster Construction Purchases Industrial Building
Sep 19th
John McDonald of NAI DESCO recently completed the sale of a 7,899 square foot industrial building at 6311 Bartmer Industrial in St. Louis, MO. The space was sold by PDIL, LLC. McDonald represented the purchaser, Brouster Construction.
CJC Transport Leases Space in Maplewood
Sep 12th
Matt Hirsch and Barry Iken of NAI DESCO recently completed the lease of 1,446 square feet of office space at 3155 Sutton Avenue in Maplewood, MO. The space was leased to to CJC Transport LLC. Hirsch and Iken represented the landlord, Franco, Inc.
West County Spine & Sport Medicine Leases Space in West Co.
Sep 1st
Matt Hirsch and Barry Iken of NAI DESCO recently completed the lease of 1,766 square feet of medical office space at 555 N. New Ballas Rd in St. Louis, MO. The space was leased to West County Spine & Sport Medicine LLC. Hirsch and Iken represented the landlord, Plaza Members III, LLC.
