ST. LOUIS, Mo. (KMOX) – Commercial real estate experts are projecting that 2012 will be a good year for those wanting to buy or rent office or industrial space.

The Society of Industrial and Office Realtors St. Louis President, David Morris says retail real estate is the only area not looking up this year. He pointed to consumer confidence, saying most retail businesses are likely to spend their money on improving their current space, rather than expanding.

Office space in Clayton is seeing the most growth, while North County and downtown St. Louis rental rates are still low. He says big companies like Peabody Energy and Stifel Nicholas have expanded, but it’s mid-market companies that are spending money on improving technology and hiring rather than expanding office space. But he says as more people are hired, companies will eventually be forced to expand office space. Consumer confidence is expected to rise after the presidential election in  November, which Morris says will help commercial real estate.


KMOX © Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments (4)
  1. Jennifer Tyler says:

    As an agent who works in New York City with as a residential agent, I have to say that the commercial aspect is something that is definitely doing a lot better recently. I hope that there is some carry-over, or I’m going to have to consider making a switch to the commercial Real Estate sector, and perhaps change my base of operation.

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Listen Live