<p>There were no major surprises&nbsp; in a generally glum report released this week summarizing 2008-2009 trends by commercial/industrial/retail broker CB Richard Ellis (CBRE). However, CBRE reported that the St. Louis region appears to be faring somewhat better than its counterparts in other ares of the country.<br /><img alt="CBRE Report" class="image-left" height="303" src="/images/uploads/cbre_1.jpg" style="float: left;" width="266" /><br />The following are some of the major points for 2009 from the CBRE report:</p>
<p><strong>Office</strong><br />&bull; Vacancy rates likely to rise<br />&bull; South County faces influx of available Anheuser-Busch space<br />&bull; Renewing tenants will be critical for landlords<br />&bull; Concessions, including free rent, will be prevalent<br />&bull; Ability of projects such as Ballpark Village to get financing will impact the market in 2009 and beyond</p>
<p><strong>Industrial</strong><br />&bull; Most activity is from users looking for between 30,000 square feet and 60,000 square feet<br />&bull; Speculative construction has slowed considerably<br />&bull; South County&rsquo;s exposure to Chrysler and its suppliers makes it vulnerable, now that the car company has shut down one plant and slowed production at the other<br />&bull; A tenant&rsquo;s market has emerged, with some &ldquo;oncein-a-lifetime&rdquo; deals featuring lease rates as low as $1 per square foot</p>
<p><strong>Retail</strong><br />&bull; Rate of development expected to slow significantly<br />&bull; Projects seeking financing will have to have significant pre-leasing committments<br />&bull; &ldquo;Power Centers&rdquo; with name-brand anchors such as Wal-Mart, Best Buy and Target will continue to do well as retail destinations<br />&bull; Smaller, neighborhood centers located in areas that receive less traffic are likely to struggle</p>
<p>To download the complete report, go to <a href="http://www.cbre.com/USA/US/MO/St+Louis/misc/stlmarketoutlook">this link</a>.</p>