David Gannon
of NAI DESCO successfully represented the seller,
LK Drive, LLC, in the sale of a 77,000 square foot industrial
building at
3801 Lloyd King Drive in O’Fallon, Missouri. The property was purchased by STAG GI Investment
Holdings, LLC, a real estate investor group from Boston, MA
represented by NAI Brannen Goddard. STAG, which stands
for Single Tenant Acquisition Group, advertises
themselves as buyers and managers of single-tenant, net
leased industrial real estate assets across the US, ranging in price from $4 to $20 million. The tenant of
the building, Herndon Products, will remain.
Infertility
Clinic Leases Space in Creve Coeur
Matt
Hirsch and Barry Iken of NAI DESCO successfully
represented the landlord, Plaza Members III, LLC, in the
lease of 7,000 square feet of medical office space at
555 N. New
Ballas Rd
in
Creve Coeur,
Mo.
The space was leased to Sher Institute for Reproductive
Medicine (SIRM), a network of nine infertility clinics
located throughout the
United States. Dr. Peter Ahlering and Dr. Barry Witten will practice
at the Creve Coeur location.
Chemical Dependency
Center Expands in Hazelwood
Matt
Hirsch and Barry Iken of NAI DESCO successfully
represented the landlord, Healthcare Realty Trust, in
the lease of 1,085 square feet of medical office space
at
637 Dunn Rd
in
Hazelwood
,
Mo.
The space was leased to Center for Life Solutions, a
chemical dependency treatment center that already leases
space in the building. Center for Life now occupies
9,306 total square feet.
Manufacturing
Company Leases Office Space in
Columbia
David Wittenauer, CCIM of NAI DESCO successfully
represented the landlord, AEW Properties, LLC, in the
lease of 1,450 square foot of office space at 100 N.
Main in Columbia, IL. The space was leased to Scientech,
a business unit of Curtiss Wright Flow Control Company.
Curtiss Wright is a designer and manufacturer of valves
and electronics for the nuclear power, oil and defense
industries.
NAI
DESCO Welcomes Hibbits to Retail Group
Josh Hibbits has
joined NAI DESCO as an associate broker with the Retail
Services Group. He will focus primarily on tenant
representation in
St. Louis
and the
Midwest
.
Hibbits
comes to NAI DESCO with extensive commercial real estate
experience.
A St. Louis
native, Hibbits started his career at Colliers Turley
Martin Tucker working in many facets of corporate real
estate including portfolio analysis, property
management, construction management and transaction
management before entering brokerage. Hibbits then moved
on to Grubb & Ellis | Gundaker Commercial where he
has spent the last five years working on retail and
investment brokerage. Throughout his career, Hibbits has
been involved in hundreds of transactions representing
landlords, owners and tenants, totaling more than
$75,000,000 in volume.
“We
are pleased to have a broker with Josh’s depth of
experience and expertise join our Retail Services
Group,” said Peter Sheahan, principal and head of the
Retail Services Group. “He is a dedicated and
respected retail broker who will significantly add to
the success of our entire organization.”
Some of Hibbits’ past and present clients include
Family Dollar, Sprint Nextel, Doctor’s Express, Image
Sun, Allstate, Burger King, Quizno’s Subs, USA Drug,
Car Quest, Citi Financial, The Pita Pit, H&R Block,
Edward Jones, Tropical Smoothie & many more.
Hibbits
graduated from the
University
of
Missouri
,
Columbia
with a Bachelor of Science degree in Business
Administration with an emphasis on finance and banking.
He is licensed in
Missouri
and
Illinois
and is an active member of the International Council of
Shopping Centers (ICSC), the National Association of
Realtors and the St. Louis Association of Realtors –
Commercial Division. He is also pursuing the Certified
Commercial Investment Member (CCIM) designation.
NAI DESCO, one of
the area’s leading commercial real estate firms,
announced that
David Wittenauer
, CCIM has joined the company as a Vice President.
Wittenauer will open NAI DESCO’s Metro East office and
will work extensively in
Southwestern Illinois
providing retail, office, industrial, investment and
land real estate services.
With
over 10 years of commercial real estate experience in
Southwestern Illinois
, Wittenauer brings a wealth of knowledge to the company
and the growing Metro East area. Wittenauer, an active
member of the community, lives and works in
Illinois
and serves on the Monroe County Economic Development
Board of Directors.
“We
are excited to increase our presence in
Southwestern Illinois
and have an experienced broker like Dave join us in this
venture,” said Mark Schnuck, President.
NAI
DESCO is one of the fastest growing commercial real
estate companies in the area. The firm currently has 18
brokers. Six of the 18 brokers have joined in the past
18 months.
NAI
DESCO’s affiliation with NAI Global, a worldwide
network of 375 real estate offices, will provide
Wittenauer and his clients with a wide variety of
marketing,networking,
and research services. Some of the clients Wittenauer
has worked with in the past include Wal-Mart, Arby’s,
Dollar Tree, O’Reilly Auto Parts, Pizza Hut, Taco
Bell, CVS and Motomart.
Wittenauer
will be joined in the Metro East office by his
assistant, Darcy Fausz. They can be reached at
618-632-3060 or by emailing dwittenauer@naidesco.com.
NAI DESCO named a Top
Brokerage Firm for 8th consecutive year
CoStar
Group, Inc. has named NAI
DESCO as a 2009 Power Broker in the Top Brokerage Firm
category for the eighth consecutive year. Two NAI DESCO
brokers, David Branding and Dan Hayes, also received individual
2009 Power
Broker awards based on their volume of commercial property
sale or leasing transactions.
Awarded to top brokerage firms and dealmakers in 62
markets across the country, the 2009 Power Brokers are a
distinguished group of firms and brokers who conducted
billions in leasing and sales transactions last year. Only
a small percentage of all brokers and firms that were
eligible for this highly coveted award were selected.
NAI
DESCO Selected as Listing Agent for former Chrysler Plants
NAI DESCO, based in Clayton, Mo., has been selected by Old Carco, LLC (formerly Chrysler) to serve as the real estate broker for the sale of Chrysler’s North and South Assembly Plants in Fenton, Mo. (St. Louis County).
Vice President Floyd Sweeney, SIOR, MCR and Principal Dan Hayes are the listing agents for the property, which is also referred to as Fenton 44 Center.
Located off I-44 near I-270, the two plants are on 295 acres and contain five million square feet under roof making this the largest commercial property listing in the St. Louis metropolitan area and one of the largest in the central United States.
“This is the biggest asset ever listed for sale in the St. Louis metro area,” said Hayes. “Our substantial industrial experience and organizational structure made NAI DESCO the logical choice for an assignment of this size.”
Although the commercial real estate market is contending with the current recession, the listing agents are optimistic the property will sell quickly and for a strong price.
“The best case scenario would be for another manufacturer to purchase the property and use the assembly facilities. Absent that, however, we have a very large, well situated site with tremendous exposure and access – the redevelopment possibilities are endless for Fenton 44 Center,” said Sweeney.
“The property’s location and size make it extremely attractive for the right buyer,” said Denny Coleman, St. Louis County Economic Council president and CEO. “Additionally, there may be a number of local and state incentives that could be utilized, and we’re prepared to implement appropriate action for the right company looking to invest and create good-paying jobs in Fenton.”
The North Plant, which produced Dodge Ram trucks, was idled in July 2009 following Chrysler’s bankruptcy filing. The South Plant, which produced Dodge & Chrysler minivans, was idled in November 2008. At the time of bankruptcy, the two plants employed 1,500 people, a significant decrease from its heyday of 5,000 employees.
Branding,
Sweeney receive top producer honors
NAI Global today named David
Branding
to the NAI Global Elite, a group comprised of the
organization’s top performers and top producers. David
qualified as a Top Performer based on production in
2009.
NAI Global also recognized Floyd Sweeney, SIOR, MCR as a NAI Global Elite. This marks the sixth consecutive year
Floyd has qualified for the NAI Global Elite, making
him a member of the Hall of
Fame, an honor recognizing individuals with at
least five years as a Top Producer or Top Performer.
NAI Global is the world’s
premier network of commercial real estate firms and one
of the largest real estate service providers worldwide.
Based in
Princeton,
New Jersey, NAI Global manages a network of 5,000 professionals
and 325 offices in 55 countries. NAI professionals
complete over $45 billion in transactions
annually.
Congratulate David
at 314 994 4948 or by clicking here.
Congratulate
Floyd
at 314 994 4445 or by clicking here.
NAI
DESCO offers Accelerated Marketing Program
NAI
DESCO announced it is participating in the Commercial
Property PowerSale™, an Accelerated Marketing
Program created by NAI Global to help property owners and
financial institutions dispose of troubled real estate
needs.
NAI Global is the premier managed network of commercial
real estate firms and one of the largest real estate
services providers worldwide.NAI DESCO is the exclusive NAI member firm in
St. Louis.
“The global economic slowdown and frozen
credit markets have caused a major disruption in the
traditional property sales market, and we are working
closely with our clients to find the right marketing
solution for their properties,” said Principal John
Sheahan of NAI DESCO. “NAI’s accelerated marketing
program is a boon for clients who need to sell an asset or
portfolio, but are having difficulty in today’s
economy.”
“Delinquencies are on the rise, and with an estimated
$400 billion dollars of commercial real estate loans
coming due in 2009, we believe there is an urgent need for
nontraditional marketing approaches,” said Jeffrey M.
Finn, President & CEO of NAI Global.“The days of buyers standing in line for each new
offering ended abruptly with the credit crisis in 2008.
With limited access to new capital, more and more property
owners are faced with a difficult situation – what to do
with their troubled asset as loans come due in a depressed
economy and with a distressed debt market.Our Accelerated Marketing Program gives clients the
opportunity to sell their asset quickly, reducing their
holding costs and securing true market value for the
property.”
The Commercial Property PowerSale™ employs a variety
of accelerated marketing techniques that have proven
effective in previous economic cycles when traditional
sales channels are gridlocked. Property owners will have
the option of offering their property for sale via a
series of live online auctions, sealed bids or a unique
combination of the two formats.Properties in the Commercial Property PowerSale™
benefit from an aggressive marketing campaign that
includes focused print, broadcast and electronic
advertising, and a direct-to-buyer outreach to more than
175,000 active buyers.Sellers are assured a shortened sales process and a
date certain sale schedule.The three program options – Auction Marketing,
Sealed-Bid and Sealed-Bid Plus™ – set up a
competitive bidding environment that creates urgency,
forcing buyers to act immediately.
“The Accelerated Marketing Program is designed to meet
the demands of our clients – property owners and
financial institutions – with troubled assets, as well
as sellers with healthy properties that are having trouble
finding a buyer in today’s market,” said Finn.“Together with our longtime partner, Higgenbotham
Auctioneers International, we have successfully completed
more than $2.3 billion in sales through accelerated
marketing programs. We are able to leverage our knowledge
and relationships with the most active buyers at any given
time to help our clients achieve the best possible value
for their asset, despite the current economic climate.”
The program is open to both private and institutional
owners and will include the sale of both commercial real
estate equity and loans. Sellers may submit an individual
asset or an entire portfolio, and property types will
include everything from office, industrial, retail,
hospitality and multifamily properties, to residential
subdivisions and land for development. Both performing and
non-performing commercial real estate loans may also be
offered for sale.The
NAI team will evaluate each property and guide the seller
through the program process, helping them to choose the
sales vehicle that best suits their needs.
Property owners and financial institutions interested in
learning more about the Commercial Property PowerSale™
should visit www.naiglobal.com/amp
or contact NAI DESCO at 314-994-4176.
Erman,
Sweeney receive top producer honors
NAI Global today named Tom Erman, SIOR
to the NAI Global Elite, a group comprised of the
organization’s top performers and top producers. Erman
qualified as a Top Performer based on production in
2008.
NAI Global also recognized Floyd Sweeney, SIOR, MCR as a NAI Global Elite. Sweeney qualified for the Hall of
Fame in 2008, an honor recognizing individuals with at
least five years as a Top Producer or Top Performer.
NAI Global is the world’s
premier network of commercial real estate firms and one
of the largest real estate service providers worldwide.
Based in
Princeton
,
New Jersey
, NAI Global manages a network of 5,000 professionals
and 325 offices in 55 countries. NAI professionals
complete over $45 billion in transactions
annually.
Congratulate Tom
at 314 994 4292 or by clicking here.
Congratulate
Floyd
at 314 994 4445 or by clicking here.
NAI
DESCO adds Brokers and Services
While other
companies are downsizing, NAI DESCO is expanding. The
last quarter has seen new additions to the staff of the
St. Louis based commercial real estate company.
Mark Schnuck, President of NAI DESCO, says the new
additions provide a valuable role for the company.
“With the new brokers, we are able to better serve the
medical office sector in St. Louis, a sector which should continue to see steady growth in
the coming years.”
Matt Hirsch and Barry Iken, the newest brokers to the
team, come to NAI DESCO with a combined 18 years of
experience in commercial real estate with an emphasis in
the medical related field.
Hirsch and Iken, who have worked with a diverse range of
healthcare providers from the single physician office to
national healthcare corporations, believe that their
move to NAI DESCO will help facilitate significant
transactions in the months to come.
“I believe with our proven track record, the support
of NAI DESCO and the NAI Network, we will not only
continue to deliver high quality real estate brokerage
to a wide range of clients, but this will open
significant opportunities to reach more clients,” says
Iken.
Major projects for the duo include the Laboratory
Corporation of America assignment where Hirsch and Iken were charged with
procuring and leasing over 40 medical facilities across
eight states, including their regional headquarters. In
addition, Hirsch assisted Land Dynamics Inc. in the
conversion of a 105,000 sq. ft. office
building to a physician owned and occupied medical
building.
Hirsch is optimistic on the outlook of medical real
estate stating “the Healthcare sector remains very
strong. Respective of economic conditions, people will
require treatment by healthcare professionals who will
need facilities to treat their patients.”
Contact Matt
at 314 994 2324 or by clicking here.
Contact
Barry
at
314 994 2323 or by clicking here.
NAI
DESCO welcomes Gary Essman and Ken Hearst
NAI DESCO is pleased to announce that Gary Essman and Ken Hearst have joined its full-service commercial real estate team as retail
specialists. With a combined 42 years of experience in commercial real estate, Gary and Ken bring a unique combination of skills and experience to the company.
Chief Economist Peter
Linneman's Global Economic Outlook briefing now available
On Demand
NAI’s recent quarterly Global Economic Outlook
briefing with Chief Economists Dr. Peter Linneman is
available now On Demand!
Simply
follow
this link, register (if you haven’t before) and
you will gain access to Dr. Linneman’s insight into
today’s economic climate, where the trust has been
lost, how long the Great Capital Strike will continue
and what you need to know to get through this economic
minefield.
NAI DESCO named a Top
Brokerage Firm for 6th consecutive year
CoStar
Group, Inc. has named NAI
DESCO as a 2007 Power Broker in the Top Brokerage Firm
category for the sixth consecutive year. Five
members of NAI DESCO also received individual 2007 Power
Broker awards based on their volume of commercial property
sale or leasing transactions (Trish Dervin, Andy Port,
John Sheahan, Peter Sheahan and John Shuff).
Awarded to top brokerage firms and dealmakers in 62
markets across the country, the 2007 Power Brokers are a
distinguished group of firms and brokers who conducted
billions in leasing and sales transactions last year. Only
a small percentage of all brokers and firms that were
eligible for this highly coveted award were selected.
Five NAI DESCO brokers
earn Global Elite status as top performers in
the NAI Global system
NAI Global
named five NAI DESCO associates, Trish Dervin, Tom Erman,
Kevin McKeon, Andy Murphy and Floyd Sweeney, to the NAI Global
Elite, a group comprised of the organization’s top performers and top producers.
The five qualified as Top Performers at the Silver Elite level based on
production in 2007.
Sweeney
was also recognized in the Global Elite Hall of Fame, an
honor distinguishing individuals with at least five years
in the Global Elite group.
To contact our Global Elite brokers, please click here.
NAI DESCO named a Top
Brokerage Firm for 5th consecutive year
CoStar
Group, Inc. and Real Estate Forum Magazine have named NAI
DESCO as a 2006 Power Broker in the Top Brokerage Firm
category for the fifth consecutive year.
Awarded to top brokerage firms and dealmakers in 62
markets across the country, the 2006 Power Brokers are a
distinguished group of firms and brokers who conducted
billions in leasing and sales transactions last year. Only
a small percentage of all brokers and firms that were
eligible for this highly coveted award were selected.
Read more about CoStar and this award here.
Principal John Sheahan
presented with the Chairman's Award for excellence in
office management
The
award is presented by NAI Global to the Business Director
who exemplifies the Right Stuff as it relates to the
effective management of an NAI office including
leadership, business generation, consistent service
delivery, participation and integration of NAI tools and
resources throughout the firm and as part of the
enterprise.
John received the award in the US Primary Market Division.
Also nominated were business directors in Chicago and San
Francisco.
NAI DESCO's Tom Erman
featured columnist / speaker
on Eminent Domain
Delivering
a message of "Balanced Approach," Tom Erman
has shared his ideas on Eminent Domain at the recent SIOR
Forecast and in Area Development Magazine.
Read the entire article here,
reprinted with permission of Area Development Magazine
from their Aug/Sept 2006 issue.
NAI DESCO named
exclusive leasing agent for Chouteau's Landing
in Downtown St. Louis
Chivvis
Development has revealed a three-phase plan
to revitalize the largely abandoned warehouse district located
to the south of I-64 with a mixed use development of office,
retail and residential lofts.
In the first phase, beginning May of 2006, the three-story brick warehouse at 904-908 South 4th
Street was converted to white-box finish. The building
is now available for lease to retail and office users.
Additional
phases are scheduled for early 2007 and late 2008 and will
include the buildings at 756 South 4th Street and 900-902
South 4th Street.
NAI
DESCO assists Ruth's Chris Steak House in their
return
to St. Louis
After
leaving the downtown market in 1998, Ruth’s Chris
Steak House is returning to St. Louis thanks to the
efforts of a new franchise owner and the NAI DESCO
retail team.
Bacchus
LLC, the owners of the St. Louis territory franchise,
contacted NAI DESCO following successful transactions
within the NAI network. Bacchus was looking for a site
that could draw from a large daytime and evening
population as well as an area that could support higher
ticket items.
The
new location, at the Shaw Park Plaza in Clayton, fits
that bill. With a large number of employees from
surrounding businesses, Ruth’s Chris will be able to
offer lunch as well as dinner. An outdoor patio is also
available.
The
restaurant opened in January 2006 with a second store
planned for 2007. Contact the NAI
DESCO Retail Team if your have an ideal restaurant
location.
