Commercial Real Estate
For much of the past year the commercial real estate market has had lower occupancy levels, declining lease rates, and not enough demand to noticeably create a positive absorption rate.
The office sector has been positive, fueled by health care related business. The industrial sector has not done as well. Plant closings and layoffs have put a lot of space on the market. Flex space remains about the same. The result is that landlords are facing greater competition, causing lease rates to decline. landlords will need to be more creative and aggressive to lure tenants. This could be interesting if insurance and property tax increase as quick as they may.
The coming year should see a tenants market in several sectors.
My services to both tenants and landlords is to understand your needs and represent your interests to further strengthen your negotiating power in today's real estate market.
Today on June 15, 2010 for my search of commercial listings in the MLS for Saint Charles County there were 135 Active listings. Over the past 12 months there were only 13 listings sold matching the same criteria. With 135 active in a market that can only sell 13 in one year, this inventory could last several years. The type of market is shown by the fact that only two listings of more than 10,000 square feet were sold in the past twelve months, and the more expensive one sold for 37% of the original list price. For those investors that have funds available there are some good investments available.
St. Louis and St Charles have some Federal money available:
Take note of these links also
http://stlouis.missouri.org/cda/
http://www.stlrcga.org/x3160.xml
