Posts tagged NAI DESCO Commercial Real Estate
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.
Scottrade Opens New Location in Belleville
Aug 9th
David Wittenauer of NAI DESCO recently completed the lease of 1,540 square feet of in-line retail space at 1095 N. Green Mount Rd in Belleville, IL. The space was leased to Scottrade. Wittenauer represented the owner, Threlkeld Family Investment, LLC.
Doctor’s Group Leases Space in South St. Louis City
Aug 5th
Matt Hirsch and Barry Iken of NAI DESCO recently completed the lease of 2,261 square feet of medical space to St. Louis Internal Medicine at 3915 Watson Rd in St. Louis City, Mo. Hirsch and Iken represented the landlord, C5, Inc.
Ft. Zumwalt School District Expands Space at Belleau Creek Shopping Center
Aug 2nd
Barry Iken of NAI DESCO recently completed the lease renewal of 6,194 square feet of retail space at 8075-81 Mexico Rd, St. Peters, as well as the expansion of 2,800 square feet of contiguous space. The total space (8,994 square feet) was leased by Ft. Zumwalt School District. The shopping center is located across the street from Ft. Zumwalt High School.
Large Industrial Building Sold in Maryland Heights
Jul 29th
John Sheahan, Jr., SIOR of NAI DESCO recently completed the purchase of a 61,259 square foot industrial building at 2345-49 Chaffee Dr, Maryland Heights, on behalf of the purchaser, DAW Real Estate, LLC. The building was purchased by an owner/user who will occupy half of the building for their engineered lubricant company while leasing the remaining portion. The seller was the Phoenix Learning Group, Inc.
