A big crowd packed the Hilton St. Louis Frontenac hotel Sept. 22 for the ninth annual St. Louis Commercial Real Estate Summit. And the overall mood? Cautiously optimistic.
The St. Louis commercial real estate market isn’t unlike others across the Midwest: It faces challenges from an uncertain economy and consumers who are feeling higher prices on everything from gas to food to housing.
But there are plenty of reasons for optimism throughout the St. Louis CRE market, too. And those positive vibes were on display during this week’s summit. The biggest names in St. Louis’ commercial real estate market said that several sectors — most notably the industrial, retail and multifamily — consider to show resilience.
Even the sluggish office market is showing positive signs, speakers said. Class-A office properties with high-end amenities continue to perform better in both the city and suburbs than their less-modern counterparts.
The summit offered plenty of opportunities, too, for networking, a key feature of every REjournals summit and conference.
Overall? The summit speakers focused on the positives, pointing toward an even brighter future for the St. Louis CRE market.
This year’s summit kicked off with the Multifamily/Apartment Market Update and Forecast, which features speakers John Morrissey Jr., President, Broadmoor Group (moderator); Parker Stewart, SVP – Regional Managing Director, Northmarq; Bobby Mills, Managing Director, GREA; Kyle Howerton, Co-Founder and Principal, AHM Group; and Matt Bukhshtaber, Vice Chairman, Investment Properties, CBRE.
Participating on the event’s second panel, the St. Louis Market Sector Update, were Gary Wood, President / CEO, Artisan; Patricia Beckerle, Partner, Armstrong Teasdale (moderator); Dan Bamberger, Executive Vice President, Colliers; Nick Garavaglia. First Vice President, CBRE; Alfredo Gutierrez: Founder, SparrowHawk; and Paddy Mullen, Senior Director, Cushman & Wakefield.
The summit concluded with the Transforming Downtown and Suburban Development—Game Changers panel. Participating on this panel were Stephen Davis, Chief Economic Officer, City of St. Louis (moderator); Rob Soete, Senior Vice President of District Operations, Cortex Innovation District; Robert Millstone, President and Founder, The Millstone Company; Garrick Hamilton: Executive VP & General Counsel, Keeley Properties; and Lauren Talley, Owner & Principal, Cobalt Construction Consulting.
