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Old 08-07-2011, 11:55 AM
 
Location: St. Louis
7,444 posts, read 7,018,386 times
Reputation: 4601

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Quote:
Originally Posted by Chicago76 View Post
Just to follow up on MUTGR's comment: commercial real estate is quoted in annual rent/sq ft. That 15K per month for 500 sf you're estimating above is more like 1250 per month for 500 sf of class A office space. These rates are also gross, meaning the tenant doesn't need to shell out additional cash for things like utilities. Clayton is currently averaging around $26/sf for properties that go for roughly $20/sf downtown.
Just out of curiousity, what are comparable rents for commercial space in C-town?
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Old 08-07-2011, 04:01 PM
 
1,478 posts, read 2,414,027 times
Reputation: 1602
Quote:
Originally Posted by MUTGR View Post
Just out of curiousity, what are comparable rents for commercial space in C-town?
Cushman puts together nice profiles here:

Cushman & Wakefield - Global real estate solutions-Knowledge Center

Chicago's CBD varies by area due to train connectivity. W Loop and River North are $40, Central Loop is abt $37, East Loop is $35 (poor train access), and the Mag Mile is $34 (soft retail led to soft office).

St. Louis CBD rates are a bit on the low side, but they're still in the ballpark right now. Most CBD markets off the coasts fall within +/-15% of $22/sf.

+5% to 15%: Dallas, Charlotte, Richmond, Omaha, Portland
+/-5%: Milwaukee, Pittsburgh, Detroit, Louisville, Nashville, Cleveland, Indianapolis, KC, both Raleigh+Durham, Rochester, Buffalo, Salt Lake City, Orlando
-5% to -15%: DT Atlanta, St. Louis, San Antonio.

Higher: Austin, Chicago, Houston, Denver, Phoenix, Mpls, Vegas
Lower: Columbus, New Orleans, Memphis, OK City, Sacramento
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Old 08-07-2011, 04:57 PM
 
Location: St. Louis
7,444 posts, read 7,018,386 times
Reputation: 4601
Quote:
Originally Posted by Chicago76 View Post
Cushman puts together nice profiles here:

Cushman & Wakefield - Global real estate solutions-Knowledge Center

Chicago's CBD varies by area due to train connectivity. W Loop and River North are $40, Central Loop is abt $37, East Loop is $35 (poor train access), and the Mag Mile is $34 (soft retail led to soft office).

St. Louis CBD rates are a bit on the low side, but they're still in the ballpark right now. Most CBD markets off the coasts fall within +/-15% of $22/sf.

+5% to 15%: Dallas, Charlotte, Richmond, Omaha, Portland
+/-5%: Milwaukee, Pittsburgh, Detroit, Louisville, Nashville, Cleveland, Indianapolis, KC, both Raleigh+Durham, Rochester, Buffalo, Salt Lake City, Orlando
-5% to -15%: DT Atlanta, St. Louis, San Antonio.

Higher: Austin, Chicago, Houston, Denver, Phoenix, Mpls, Vegas
Lower: Columbus, New Orleans, Memphis, OK City, Sacramento
Interesting stuff thanks.
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