Z Pizza deal complete in Clayton
Feb 1st
Congrats to Z Pizza on it’s new Clayton location, the first one in Missouri! John Shuff & Tom Erman of NAI DESCO helped broker the deal at 7600 Wydown, scheduled to open on April 6th.
The fast casual pizza chain focuses on fresh ingredients and healthier food using organic veggies, gourmet cheese and MSG & additive free meats. Check out their menu and learn more at their website: www.zpizza.com
Oct 15th
Third quarter 2012 reports are available here for the St. Louis industrial, office and retail sectors. Check out the reports for details on vacancy and rental rates, absorption, construction trends and major lease transactions. You can also receive the reports via email by joining our email list. Look for more information on market trends in the weeks to come as Vice President Andy Murphy, CCIM is published in the November issue of Heartland Real Estate Magazine.
NAI DESCO Sells Missouri’s Largest Shopping Mall
Aug 7th
John McDonald, Peter Sheahan & Josh Hibbits of NAI DESCO brokered the sale of Northwest Plaza, a 1.8M SF shopping center in suburban St. Louis
Northwest Plaza, located at St. Charles Rock Rd and Lindbergh Blvd in St. Ann, Missouri, was originally built as an open air mall in 1966 before being enclosed in the 1980s. The development had declined in recent years as the mall’s anchors departed. The mall was shuttered in 2011.
Redevelopment plans for the 122 acre site include space for several big box and junior anchor users as well as multiple outlots. NAI DESCO will continue to market the property.
CRE in the St. Louis Region, an excerpt from SIUE’s bWorld
Jul 24th
The following is an excerpt from NAI DESCO Principal, Carl Concellor’s article regarding the state of Commercial Real Estate in the St. Louis region. The article appeared here in the summer edition of Southern Illinois University Edwardsville’s business Magazine, bWorld.
The real estate market has been heavily impacted by The Great Recession. While the current economic environment continues its slow march towards recovery, the real estate sector continues to struggle with a weak housing market and a loss of jobs and key employers.
“For 2012, considering the uncertainty in markets, the St. Louis Metropolitan area, although not glamorous, has held its own primarily due to the diversity in our employment base. We have lost jobs due to consolidation, relocation and or acquisition, but the education, medical and biotech, financial services and insurance, as well as transportation and distribution sectors remain steady and in many cases are expanding,” Conceller said.
St. Louis Retail Heats Up, an excerpt from Heartland RE Business
Jul 6th
The following is an excerpt from an article by Peter Sheahan of NAI DESCO published in the June 2012 issue of Heartland Real Estate Business. The original article is available here:
St. Louis Retail: Leasing, Development Activity Heats Up
Consumers are loosening their wallets in St. Louis, and the thaw in spending has given the local retail market a much-needed shot of adrenaline. The discount retailer is still king, but new concepts and developments are gaining ground. With positive absorption of space on the rise, investment sales are increasing.
St. Louis is poised to see a major development in the central trade area at the former Hadley Township site. After several failed attempts at development in the past 10 years, Hadley seems destined for redevelopment at last. The 40-acre site is located on I-64 in the central suburb of Richmond Heights and will consist of an assemblage of 150-plus commercial and residential parcels.
In the southern half of the development, Menards was selected by the city over Costco and will open one of its first St. Louis locations in early 2014. The site plan includes a 240,000-square-foot store with additional out parcels for retail and restaurant users.
Tenants Continue to Rule the Market, an excerpt from CoStar with quotes from Carl Conceller
Jun 7th
The following is an excerpt of a story from CoStar, written by Mark Heschmeyer, published June 6, 2012. The original article is available here:
This week’s disappointing job growth numbers make it abundantly clear that it’s still a tenants’ market out there and no amount of aspiring to the contrary will make it easier for landlords fighting to attract and retain them.
The job news “is an obstacle and a cautionary line creating uncertainty in the short-term outlook,” said Carl Conceller, principal of NAI Desco in St. Louis, MO. “Landlords are keenly aware of the limited tenants in the market place and the need to maintain occupancy in a highly competitive market. Landlords will continue to be aggressive in structuring leases to capture tenants as early as possible, while blocking them from the competition.”
More >
April 2012 Real Estate Transactions
May 4th
The following are a sampling of real estate transactions completed by NAI DESCO agents during the month of April. For more information regarding these transactions, please contact the agent.
Carl Conceller, SIOR and Stephen Gwinnup, CCIM of NAI DESCO represented the seller, Fifth Third Bank, in the sale of seven residential condominiums at 652 Emerson in Creve Coeur to CJS Investments.
Josh Hibbits of NAI DESCO represented Family Dollar in the lease of 15,000 square feet of retail space at 11200 W Florissant Ave in Florissant from BRE Retail Residuel MO Owner LLC.
David Wittenauer, CCIM of NAI DESCO represented the landlord of 6697 Center Grove Rd in Edwardsville, IL in the lease of 3,627 square feet of retail space to New Cingular Wireless PCS.
Josh Hibbits of NAI DESCO represented The Pita Pit in the lease of 1,200 square feet of retail space at 215 Harvard Dr in Edwardsville, IL from Edwardsville Crossing LLC.
Josh Hibbits and David Wittenauer, CCIM of NAI DESCO represented the landlord of 1938 W Morton in Jacksonville, IL in the lease of 1,805 square feet of retail space to Game Stop Inc.
1st Quarter 2012 Market Reports Now Available
Apr 7th
First quarter 2012 reports are available here for the St. Louis industrial, office and retail sectors. Check out the reports for details on vacancy and rental rates, absorption, construction trends and major lease transactions. You can also receive the reports via email by joining our email list. Look for more information on market trends in the weeks to come as principals John Sheahan, Peter Sheahan and Carl Conceller participate in interviews with industry publications.
March 2012 Real Estate Transactions
Apr 3rd
The following are a sampling of real estate transactions completed by NAI DESCO agents during the month of March. For more information on these deals, please contact the agent.
Josh Hibbits and David Wittenauer, CCIM of NAI DESCO represented Family Dollar in the lease of 8,209 square feet of retail space at 900 W Main St in Carbondale, IL from Killingsworth Retail Properties, LLC.
Josh Hibbits of NAI DESCO represented Wireless Lifestyle dba Sprint in the lease of 1,986 square feet of retail space at 1084 New Ballas Rd in Des Peres from T-C Des Peres Corners LLC.
Josh Hibbits and David Wittenauer, CCIM of NAI DESCO represented the landlord of 525 Lincoln Hwy in Fairview Heights, IL in the lease of 1,420 square feet of retail space to Trinas Neely’s Agency dba Allstate Insurance Company.
Carl Conceller, SIOR of NAI DESCO represented Becker Glove International LLC in the lease of a 69,548 square foot industrial building at 4240 Rider Trail North in Earth City from CIRIII Reit 1.
Nadine Boon, Brenda Lowder & Carl Conceller, SIOR of NAI DESCO represented St. Louis Staffing in the lease of 3,924 square feet of office space at 514 Earth City Expy in Earth City from Harmon Properties.
David Wittenauer, CCIM of NAI DESCO represented the landlord of 6697 Center Grove Rd in Edwardsville, IL in the lease of 2,800 square feet of retail space to HW Holdings LLC.
Michael Wolken, SIOR of NAI DESCO represented the landlord of 1329 Horan in Fenton in the lease of 8,450 square feet of industrial space to Network Health Care.
Josh Hibbits and David Wittenauer, CCIM of NAI DESCO represented the landlord of 525 Lincoln Hwy in Fairview Heights, IL in the lease of 1,200 square feet of retail space to Trinity & Assoc dba Merle Norman Studio.
February 2012 Real Estate Transactions
Mar 2nd
The following are a sampling of real estate transactions completed by NAI DESCO agents during the month of February. For more information regarding these transactions, please contact the agent.
Floyd Sweeney, SIOR, MCR of NAI DESCO represented the seller of a 59,000 square foot industrial building at 2635-45 Metro Blvd in Maryland Heights to Tri-Leopard Vineyards, LLC.
Floyd Sweeney, SIOR, MCR and Andy Murphy, CCIM of NAI DESCO represented the seller of a 40,410 square foot industrial building at 423 WW Industrial Park Dr in Washington to G.H. Tool & Mold Inc.
Michael Wolken, SIOR and Carl Conceller, SIOR of NAI DESCO represented the tenant in the lease of 2,950 square feet of industrial space at 1835 Beltway in Overland from Beltway Investors.
David Wittenauer, CCIM and Josh Hibbits of NAI DESCO represented the landlord in the lease of 4,995 square feet of retail space to Maurices at 1929 W Morton Ave in Jacksonville, IL.
