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St. Louis Office Market Michael J. Wolken, SIOR Principal
Office Committee Dennis DeSantis, SIOR Gateway Commercial,  a Cushman & Wakefield  Alliance Dave Morris, SIOR Gundaker Commercial Scott Bazoian, SIOR  Colliers Turley Martin Tucker Lynn Schenck, SIOR  CB Richard Ellis
Office Presentation ,[object Object],[object Object],[object Object],[object Object],[object Object]
2007 Predictions ,[object Object],[object Object],[object Object]
Good to Great in 2008?
Large Tenants Moved in 2007 CityPlace Six 140,500 SF 40 West II Building 114,000 SF
Large Tenants Moved in 2007 1881 Pine Street 110,00 SF NorthPark 90,000 SF
Large Tenants Considering Options in 2008 Total potential impact – 1,000,000 SF
Tenant by Size Range
Tenants by Lease Expiration
Office Employment Growth 3.2% 3.8% 7% St. Louis 2.2% 9% 11.2% Washington 9.9% 8.3% 18.2% Tampa/St. Petersburg 10.6% 4.4% 15% Seattle/Puget Sound 7.3% 1.5% 8.8% New York City 5.9% 2.2% 8.1% Los Angeles 3.7% 4.3% 8% Denver 10.2% 6.4% 16.6% Dallas/Ft. Worth 3.8% 3.8% 7.6% Chicago 5.2% 2.5% 7.7% Boston 2.6% 6.3% 8.9% Atlanta Difference Inventory Growth Employment Growth Market
Vacancy Report 9.9% 7.2% 3.9% 9.5% 6.2% 6.5% 16.5% Class A 12% St. Louis Metro 12% St. Charles County 7.5% South County 17.9% North County 8.7% West County 10% Clayton 18.5% Downtown All Classes Submarket
Vacancy Report ,[object Object],[object Object]
2008 New Construction The Meridian at Brentwood 180,000 SF Lakeside Crossing Office One 127,000 SF
2008 New Construction Central Park Square I 100,000 SF 825 Maryville Office 75,000 SF 580,000 square feet
Potential Major Office Developments 2008 and Beyond Ballpark Village Lakeside Crossing 2 Highlands II
Potential Clayton Developments ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Potential new office – 1.5 – 2 million square feet
Taxes – T.I. and Trends ,[object Object],[object Object],$3.69 $682,223 1983-89 Old Town Exec Ctr $5.84 $1,900,000 2001 The Plaza in Clayton $3.30 $1,908,877 1965-70 Pierre Laclede I & II $3.68 $640,532 1982 Bemiston Tower PSF 2007 Tax Year Built Building
2008 Predictions ,[object Object],[object Object],[object Object],[object Object]
Good
Great
 
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St. Louis Office Market Trends and Predictions for 2008

  • 1. St. Louis Office Market Michael J. Wolken, SIOR Principal
  • 2. Office Committee Dennis DeSantis, SIOR Gateway Commercial, a Cushman & Wakefield Alliance Dave Morris, SIOR Gundaker Commercial Scott Bazoian, SIOR Colliers Turley Martin Tucker Lynn Schenck, SIOR CB Richard Ellis
  • 3.
  • 4.
  • 5. Good to Great in 2008?
  • 6. Large Tenants Moved in 2007 CityPlace Six 140,500 SF 40 West II Building 114,000 SF
  • 7. Large Tenants Moved in 2007 1881 Pine Street 110,00 SF NorthPark 90,000 SF
  • 8. Large Tenants Considering Options in 2008 Total potential impact – 1,000,000 SF
  • 10. Tenants by Lease Expiration
  • 11. Office Employment Growth 3.2% 3.8% 7% St. Louis 2.2% 9% 11.2% Washington 9.9% 8.3% 18.2% Tampa/St. Petersburg 10.6% 4.4% 15% Seattle/Puget Sound 7.3% 1.5% 8.8% New York City 5.9% 2.2% 8.1% Los Angeles 3.7% 4.3% 8% Denver 10.2% 6.4% 16.6% Dallas/Ft. Worth 3.8% 3.8% 7.6% Chicago 5.2% 2.5% 7.7% Boston 2.6% 6.3% 8.9% Atlanta Difference Inventory Growth Employment Growth Market
  • 12. Vacancy Report 9.9% 7.2% 3.9% 9.5% 6.2% 6.5% 16.5% Class A 12% St. Louis Metro 12% St. Charles County 7.5% South County 17.9% North County 8.7% West County 10% Clayton 18.5% Downtown All Classes Submarket
  • 13.
  • 14. 2008 New Construction The Meridian at Brentwood 180,000 SF Lakeside Crossing Office One 127,000 SF
  • 15. 2008 New Construction Central Park Square I 100,000 SF 825 Maryville Office 75,000 SF 580,000 square feet
  • 16. Potential Major Office Developments 2008 and Beyond Ballpark Village Lakeside Crossing 2 Highlands II
  • 17.
  • 18.
  • 19.
  • 20. Good
  • 21. Great
  • 22.