SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2016 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Industrial Market to Watch: St. Louis, MO

The St. Louis economy has experienced strong growth since the recession and now features a 5.2% unemployment rate as of January ‘16 with modest job growth of 1.2% annualized. The diverse economic base includes manufacturing of food and agricultural products that are relatively immune to cyclical forces and thus stabilize the St. Louis industrial space market. Still, the key industrial sector of Manufacturing is losing jobs at a 1.3% annualized pace while Trade, Transportation, and Utilities grows at a nearly flat rate of 0.3% annualized. Overall, the stable nature of the industries operating in St. Louis, many with corporate HQs, and its strong river, rail, and air linkages should allow its industrial market to remain healthy in 2016 and beyond.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top industrial markets, download the full version of the 2016 Industrial Market Outlook report here.

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Mike Fusek Shares His 5 for Friday

This week, our 5 for Friday features Mike Fusek, Senior Advisor at Sperry Van Ness / Rankin Company, LLC based out of Springfield, MO.

1. What is your geographic market and product specialty?

My market is Springfield, Missouri. Our local market is not large enough to specialize in a single product type… so I specialize in commissions.

2. What is your latest best practice tip that you can share?

Following up with suspects till there is a paycheck.

3. What does the SVN Difference mean to you?

A competitive advantage of “national exposure” over all local brokers.

4. What business book, blog, or website do you like to recommend to your colleagues?

Vintage books called Making Money Make Money by Herbert Lee Barber and also Timid Salesmen Have Skinny Kids by Judge Ziglar.

5. What is a fun fact that not everyone knows about you?

I sold pots and pans door to door for 17 years and bought commercial real estate to get out.

Are you ready to experience the SVN Difference? Check out our Careers page here.

Tag: MO

St. Louis, MO | 2016 Top #CRE Markets to Watch: Industrial