Monday, July 6, 2015

World's largest real estate markets and office rental growth

JLL video on global cities
What are the world’s largest real estate markets? Which cities attract the most real estate investment relative to their size? Where are office rents growing fastest? JLL Cities Research Center – uncovering opportunities in cities around the world.

Wednesday, June 3, 2015

Industrious' new office in St. Louis

Industrious (www.industriousoffice.com/locations/stlouis) has just opened it's St. Louis office at 555 Washington, a creative office building that originally was built for May Department Store.

We've created the social office—communities of 1 to 10 person private offices with plenty of common space and coworking for companies to share, socialize, and collaborate.
Our goal? To offer you the privacy you need to be productive, but the community you need to stay invigorated.











Monday, May 11, 2015

A ‘Kids Table’ for Young Office Workers

Inside a New York City firm’s millennials-only seating area, where grown-ups fear to tread

As millennials have become the largest segment of the workforce, companies are seeking ways to make the multigenerational office run smoothly. At one New York City advertising and marketing firm, that means clustering young workers at the office equivalent of the kids’ table.
Last September, Grey Global Group began seating assistant account executives—nearly all a year or two out of college—in an area dubbed “base camp.” The idea, according to the company, is to give entry-level workers a place to forge strong ties and show each other the ropes without irritating their older colleagues.
http://www.wsj.com/articles/a-kids-table-for-young-office-workers-1430818381?KEYWORDS=kids+table

Monday, April 13, 2015

McCormack Baron Salazar's HQ - 720 Olive

McCormack Baron Salazar (mccormackbaron.com) recently relocated to 720 Olive (formerly the Laclede Gas Building) on three of the upper level floors.  Trivers Architects (trivers.com/home) designed the space.  MBS along with Arcturis, on the second level, show how a creative space can be designed within a tower that was completed in 1971, then Missouri's tallest at 30 stories. 

JLL is the leasing broker for the office portion of this building (up to 120,000 SF available).  A portion of the upper floors are being converted to residential apartments by Brandonview, LLC. 
Leasing rates are only $14.00/ square foot and tenants can easily access Clayton via the MetroLink station directly below the building.  A train leaves the station every 10 minutes for a 20 minute ride to Clayton.

Photos by:
www.aliseobrienphotography.com



 
720 Olive


Monday, March 9, 2015

Top OPPS new space Downtown - Curlee Building

http://moveyour.co/welcome-to-our-workplace/

A new site promoting Downtown St. Louis has an excellent video on Top OPPS' topopps.com/ new office space at the Curlee Building.  Downtown St. Louis will continue to see "graduates" from T-REX and other incubators downtown, move and grow in the CBD.

Monday, February 16, 2015

St. Louis office market overview for 2014


Moving from recovery to expansion
Office-occupying employment is back to pre-recession levels
Office-occupying employment has posted annual gains for 23 consecutive
months. As a result, the four super sectors reached all-time highs earlier this
year. The gains are even stronger when excluding government employment,
gaining 13.6 percent from the January 2010 lows, compared to 6.2 percent. In
addition, non-farm payrolls gained 20,700 jobs from the previous year. This is the
second-highest 12-month increase in non-farm payrolls since 2005. The gains
have brought the local unemployment rate to 5.4 percent, the lowest level since
December 2007.



Full JLL report:
http://www.joneslanglasalle.com/MediaResources/AM/Email/St.%20Louis/STL-Office-Insight-Q4-2014-JLL.pdf

Friday, November 21, 2014

How do Downtown St. Louis office space stats compare to other CBD's?




Downtown St. Louis has a higher total vacancy rate than any other comparison city on this list but the Class A space vacancy is lower on average than any other.  Not all cities broke down total numbers and Class A numbers.  Many Class B and C office buildings have or are in the process of being converted to residential buildings.  No other comparison city has a second CBD the size of Clayton, which certainly affects the downtown stats.  Owner/occupied buildings such as AT&T, Purina and Wells Fargo are not tracked in these figures.

Source: CBRE
City (CBD)  Vacancy Inventory (square feet) Average Asking Rent Asking Rent Class A only Total Absorption (SF) 2014 YTD
Total Class A 
St. Louis 26.50% 11.80% 14,194,676 $15.22 $18.08 93,532
Cincinnati 20.30% 12,925,157 $20.79 98,266
Dallas 23.70% 29,415,642 $21.13 541,311
Denver 12.70% 25,627,875 $30.94 98,411
Indianapolis 19.10% 17.10% 11,944,526 $18.22 $19.51 24,448
Kansas City 22.40% 22.50% 14,911,631 $16.71 $18.45 108,980
Minneapolis  15.10% 11.90% 24,126,861 $14.42 $16.39 289,447