A crowd of the top commercial real estate professionals working the St. Louis market discussed the state of the industry during REjournals’ seventh annual St. Louis Commercial Real Estate Summit held Oct. 17.
And what did these professionals discuss? Speakers were optimistic that the Federal Reserve Board’s rate cuts will help boost investment sales and new development. And that the easing of inflation will provide yet more fuel to the start of a commercial real estate recovery.
Panelists also spoke about the slowdowns in leasing activity for all sectors, including the strongest performers today, multifamily and industrial. The hope is that demand for commercial spaces in all sectors will gradually, but steadily, increase in the coming months.
Speakers also highlighted the positives of doing business in the St. Louis market and discussed some of the more important commercial developments planned for the region.
Networking was on tap, too, with the crowd of real estate professionals taking the time to catch up with their peers. Networking, of course, is always a key component of REjournals’ Commercial Real Estate Summits.
Panelists on the Apartment Market Update & Forecast panel focused on both the opportunities and challenges in St. Louis’ multifamily sector. Panelists said that the fundamentals of this sector remain strong, even as leasing activity slows. Speakers included Christopher C. Natsch, Partner/Property & Casualty Practice Leader, USI Insurance Services; Bobby Mills, Senior Director of Investment Sales, Berkadia; Michael Hamburg, Founder, Pier Property Group; Matt Bukhshtaber, Vice Chairman – Investment Properties, CBRE; and John Morrissey, Jr., MRED, Vice President, Broadmoor Group.
The St. Louis Market Sector Update panel focused on the challenges facing the office, retail, industrial and healthcare sectors. But panelists also expressed optimism that better times are ahead for each of these sectors. Speakers on this panel were John Skae, VP – Relationship Manager, Enterprise Bank & Trust; Greg Schowe, Division Manager, Asset Preservation, Inc.; Laura Jones, Commercial Real Estate Broker, RL Jones Properties; Danielle Grubbs, Senior Director, Cushman & Wakefield; Matt Hrubes, Senior Vice President, CBRE; and Jim Fredericks, Partner – Real Estate, Armstrong Teasdale.
Plenty of important commercial real estate projects are being developed in the St. Louis market, and panelists highlighted them during the Transformation & Development of Downtown and Suburban Markets—Game Changer Projects panel. Speakers were Nick Cook, Development Manager, Panattoni Development Company, Inc.; Kurt Weigle, Senior Vice President & Chief Downtown Officer, Greater St. Louis, Inc.; Greg Gleicher, CEO, Good Developments Group; Neal Richardson, Chairman/President & CEO, St. Louis Development Corporation; and Michael Staenberg, President, The Staenberg Group.