What area is your expertise? St. Louis County, Missouri — specifically the Chesterfield submarket. What trends do you see presently in office development in your area? In this submarket, vacancy is declining and new buildings are under construction with more being planned. Who are the active office developers in your area? MPD Development, Duke Realty, OPUS and Sachs Properties. Please name one or two significant office developments in your area. What impact will these projects have on the market? Valley Trails Center at 17401 North Outer 40 Drive, Chesterfield, MO 63005. Three 66,000-square-foot office/medical buildings (planned for near future). Located on Interstate 64/Highway 40 with great access from Boone’s Crossing interchange. Buildings will include balconies and have excellent visibility from the interstate. Adjoins a 26 mile trail system. Developer is MPD Development. Where is the majority of development taking place? Why is this area doing well? West St. Louis County due to access and strong demographics. What area do you expect to be the next big development market? Why? Development will continue in West St. Louis County/ Western Chesterfield area due to available land. What areas are doing well in terms of office leasing? Which areas are struggling with office …
Missouri
What area is your expertise? Industrial property in the Kansas City metropolitan area. What trends do you see presently in industrial development in your area? The emergence of large, big-box distribution centers (greater than 250,000 square feet) as well as the emergence of inland ports, which are logistic parks in close proximity to intermodal centers. Kansas City has traditionally been a market for users of smaller blocks of space, but this has changed over the past 5 years. Transactions greater than 250,000 square feet new to our market include companies such as Case New Holland, Pac Son, Kimberly Clark, and Musician’s Friend. Additionally, large industrial logistics parks are planned for the property adjacent to a new intermodal facility, which has opened in Southern Kansas City at M-150 and 71 Highway at the old Richards-Gebaur Airport, which is operated by Kansas City Southern Railroad. CenterPoint is the developer of this park. Additionally, other intermodal projects are underway in both Gardner, Kansas, and at the Kansas City Airport. What type of industrial product is doing well in your area? Class A distribution space greater than 50,000 square feet. Who are the active industrial developers in your area? Multiple local developers Please name …
What area is your expertise? The St. Louis Metropolitan Area What trends do you see presently in multifamily development in your area? Many of the St. Louis area developers are including residential components (both rentals and sales) in their developments. The desire to work, live and shop in the same area is desirable in the St. Louis region — from shopping, to office, to education, to entertainment. Who are the active multifamily developers in your area? Local office and retail developers are adding residential components to their developments. Please name one or two significant multifamily developments in your area. What impact will these projects have on the market? Clayton is seeing an increase in condominium construction as well as housing units becoming a part of retail and office developments. For example, Maryland Walk opened with 99 high-end condominiums and has added a retail component. The Crescent development includes 72 luxury condominiums and 26,000 square feet of retail. The $73 million, 390,000-square-foot project was developed by Mark S. Mehlman Realty. Where is the majority of development taking place? Why is this area doing well? Condo and apartment development and redevelopment are on the rise in the Central Business District as a …
What area is your expertise? Office market in the Kansas City metropolitan area. What trends do you see presently in office development in your area? Little new development. Some mixed-use projects in the works. Who are the active office developers in your area? Local developers. Please name one or two significant office developments in your area. What impact will these projects have on the market? Park Place – Mixed-use suburban office project including retail, residential, office and hotels. Located in suburban Kansas City (Leawood, Kan.) Plaza West – mixed-use office, retail, hotel project on Country Club Plaza. Will be corporate headquarters for local advertising firm Bernstein Rein. Where is the majority of development taking place? Why is this area doing well? Suburban Kansas City What area do you expect to be the next big development market? Why? Suburban Kansas City What areas are doing well in terms of office leasing? Which areas are struggling with office leasing? Suburban Kansas City and Country Club Plaza do well. Downtown Kansas City has struggled but with a new entertainment district along with opening of Sprint Center, it is poised to take off. Please give a measure of office vacancy rates. Please give a …
What area is your expertise? • I am an associate partner with Hendricks & Partners and a veteran real estate advisor in the Kansas City and Midwest region. After completing my graduate degree in urban planning and working as a city planner, I joined the multifamily housing industry in brokerage. Over the last twenty years, I have connected the buyers and sellers of some of Kansas City’s highest profile apartment communities and condo conversions. The Kansas City metropolitan area straddles the border between Missouri and Kansas encompassing a 15-county Metropolitan Statistical Area, anchored by Kansas City, Missouri and Overland Park (Johnson County) Kansas. It is the 27th largest metropolitan area in the United States with an estimated population of 2.1 million. What trends do you see presently in multifamily development in your area? The Kansas City apartment market begins 2008 in relative market equilibrium with sound market economic fundamentals and supply in check. The downtown urban living trend gained significant momentum in 2007 with the opening of the Sprint Arena and the Power & Light District, a dynamic nine-city block mixed-use retail, entertainment, office, and loft district. In 2007, downtown had an estimated population of 17,000 people, which is up …
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