More than 300 department stores are closing this year, putting about 36 million square feet of vacant space back on the market, according to JLL’s latest retail report Empty to Alive: The Next Use for Department Store Space. Which begs the question, what will become of all that empty space. Well, it’s not all doom and gloom as… Read More
The St. Louis Business Journal recently reported that the Cambridge Innovation Center (CIC) will open a third location within the Cortex Innovation District, expanding the innovation incubator’s real estate footprint by another 41,000 square feet.
St. Louis was the CIC’s first-ever location outside of its Boston headquarters. With the third location, CIC St. Louis will occupy almost 160,000 square feet within Cortex after having first entered the market in 2014, creating its first expansion outside… Read More
St. Louis unemployment trends remain at cyclical lows thanks to payroll expansions in health, education, and hospitality. St. Louis, like much of the nation, has seen a steady drop in unemployment since 2010 with current unemployment hovering around 4.5%, which is on target with national unemployment trends at 4.6%. JLL Research shows St. Louis’ educational and health services field grew by 9,200 jobs in the past 12 months, while the leisure and hospitality sector… Read More
The St. Louis Post Dispatch published an article summarizing the current industrial real estate market in St. Louis, and JLL’s David Branding provided his expertise on the topic.
St. Louis Post Dispatch Article
Industrial Insight STL – Q1… Read More
St. Louis ranks 27th in the nation for millennial household income, but if you take into account the region’s extremely affordable cost of living, the city gets a huge boost to fifth, putting St. Louis almost 9% above the national average for millennial income. That’s great news for a young work generation looking to buy a first home, enhance savings, or just to have more disposable income in general.
The lower cost of living is… Read More
Members of Team JLL, along with more than 1,000 participants, took part in the “Master the Met” race, a vertical challenge to the top of the Metropolitan Square Building, the tallest building in St. Louis. JLL St. Louis, which manages the building and also is headquartered at the Met, has hosted… Read More
After more than one million square feet of absorption in the past two years, the market took a breath. According to Q1 office insights from St. Louis Research Manager Blaise Tomazic, absorption fell to -133,000 square feet, signifying only the third time since mid-2013 that St. Louis had negative quarterly absorption. Several large users shed space for different reasons. SunEdison put more than half of its space (56,000 square feet) in Northwest County up… Read More
What happens when the next e-commerce deal keeps putting pressure on a local pool of labor? How are site-selection decisions impacted or supply-chain nodes changed? The effects of e-commerce fulfillment are being explored in this new Industrial Impact paper recently published by JLL.
In St. Louis, major retailers such as Amazon and Best Buy have driven record-setting figures in the industrial real estate market – both in construction and absorption. E-commerce is also impacting wage… Read More
JLL’s St. Louis office is pleased to announce that David Steinbach has been promoted to Managing Director, David Biales to Executive Vice President, and Ed Backer to Senior Associate.
David Steinbach specializes in landlord and tenant representation, and has been with JLL since 2008. He acts as an exclusive advocate in all matters pertaining either to his clients’ properties… Read More
Senior vice president of retail brokerage, Rick Spector, is in it to win it when it comes to raising money for blood cancer research. On Feb. 22, Rick kicked-off a 10-week fundraising campaign as part of the Leukemia & Lymphoma Society’s Man/Woman of the Year” (MWOY) challenge. Rick is competing against 17 men and women from the St.… Read More