Rising interest rates, soaring materials costs and the impact of inflation dominated much of the discussion during the 5th annual St. Louis Commercial Real Estate Summit held Oct. 20 at the Hilton St. Louis Frontenac by REjournals.
The event featured the top names in the St. Louis commercial real estate market, all of which shared their opinions on how the uncertain economy is impacting the city and its suburbs.
The consensus? Yes, these are challenging times. But St. Louis has the tools needed to work through the uncertainty. Demand for multifamily space remains high, while the area’s industrial market continues to boom. Retail is showing steady growth.
The office market, of course, is facing its challenges as companies continue to develop their back-to-the-office plans. But the overall mood during the summit was a positive one, with many speakers pointing to an even brighter future for the St. Louis commercial real estate market.
Even with the challenges facing the country, construction continues in St. Louis and its suburbs. Members of the Critical Commercial Construction Update panel highlighted some of the biggest construction projects in the region. Participating on this panel were Ernest Abood, the best moderator born west of the Mississippi, with REjournals; Matthew Stack, President, St. Louis office of Russell Co.; John Doerr, Executive Vice President, Tarlton Corp.; and Sheila Miranda, Lead Architect, CORE10 Architecture, Inc.
The multifamily market continues to boom in St. Louis and its suburbs, so it wasn’t surprising that the mood was particularly optimistic during the Apartment Market Update & Forecast: Opportunities & Challenges panel. Speaking on this panel were Jeff Tegethoff, Operating Partner, CRG; John F. Morrissey Jr., Vice President, Broadmoor Group; Matt Bukshtaber, Vice Chairman, CBRE|Capital Markets); and Bobby Mills, Director of Investment Sales, Berkadia.
The St. Louis Market Sector Update panel, featuring experts in the industrial, office, retail, finance and investment sectors, featured John Skae, Assistant Vice President, Relationship Manager, Enterprise Bank & Trust; Whitney Allen, Associate, CBRE; Alfredo Gutierrez, President, SparrowHawk; Will Meehan, Vice President, JLL; James Fredericks, Partner, Armstrong Teasdale LLP; and Michael Staenberg, President, The Staenberg Group.
The Transformation & Development of Downtown and Suburban Markets—Game Changer Projects panel highlighted the top developments in St. Louis and its suburbs. Speaking on this panel were Kevin Bryant, President, Kingsway Development, LLC; Mike LaMartina, Chief Operating Officer, Ballpark Village; Neal Richardson, President and Chief Executive Officer, St. Louis Development Corporation; Gayle Mercier, Partner and Chair of the Real Estate Practice Group of Thompson Coburn LLP; and Phillip Hulse, Founder and Chief Executive Officer, Green Street Real Estate Ventures.
