Archive for December, 2010
The following is an excerpt from Principal John Sheahan’s market review & forecast article featured in the December issue of the Heartland Real Estate Business magazine:
As evidenced by data from the Federal Reserve’s October 2010 Burgundy Book, the St. Louis market area has experienced a small but steady increase in economic activity through the latter portion of the year. The St. Louis area is aided in this respect by its diversification in sectors such as bioscience, information technology, financial services, transportation/distribution and high-tech manufacturing. Local market indicators mirror an overall national trend towards improvement in these areas.
Congratulations to John Sheahan Jr, SIOR and Terry O’Connell of NAI DESCO who successfully completed a transaction on behalf of the landlord, Landmark Enterprises Ltd, in the lease of 4,000 square feet of industrial space at 12935 Gravois, Suite A, in St. Louis. The space was leased to the Flood Team, a 24-hour water clean-up and drying service.
Congratulations to Matt Hirsch and John Shuff of NAI DESCO who successfully assisted the landlord, STNT, LLC, in the lease of 680 square feet of retail space at the Woodbine Center, located at 630 W. Woodbine Rd in Kirkwood. The space was leased to Kelly Burmester Salon, which opened in December.
For more information on available space in this center, please see our available properties.
Remember just 10 years ago when we were worried about the Y2K bug, when a stamp cost $0.33 and when our budget had a surplus of $200+ billion? In his new whitepaper, NAI chief economist Dr. Peter Linneman discusses the factors that enabled a decade that began with a roaring start to come to a punishing conclusion. The following is an excerpt:
What a difference a decade makes. It was just 10 years ago that:
- panic was rampant about the Y2K bug;
- the Nasdaq closed at 5,048.62, its highest point before the dot-com bust;
- AOL bought Time Warner for $162 billion;
- Vladimir Putin took charge of Russia;
- Bill Gates stepped down as Microsoft’s CEO;
- Elian Gonzalez (who?) was on the front page of every newspaper;
- Vermont approved gay unions; and
- the Bush vs. Gore election was too close to call.