OFFICE Advisory
Newmark
platform
Life sciences
Group
Newmark Agency
Group
Global Healthcare
Services
Office Advisory
Group
Global Corporate
MANAGEMENT
Technology & Innovation
Practice Group
Recent City Deals
Tenant Rep
Landlord Rep
Real Estate Themes
Overall Economic Conditions
Speculated recession is creating concern for long-term leases, but is driving concession packages higher.
Life Sciences
Research & Development and lab space are driving forward while traditional office space lags.
Workplace Trends
Culture is driving the real estate decisions for top companies.
Recruiting Wars
Employees are ‘running the show’ when it comes to perks and incentives.
Rental Rates
Asking and net effective rents have dropped across St. Louis, but risen in top submarkets, like Clayton.
Location, Location, Location
A strategic, centralized location is coveted based on geography of the workforce.
Concessions
Landlords are hungry for
deals and will provide significant concession packages to land a deal.
Shadow Space
Well-built, furnished shadow space continues to emerge.
Trends in the new workplace
Survey Says…People with Choice are most engaged.
Communication and
Flexibility with Employees is Key to Success.
Prior to Covid, most
workspaces were designed for Heads Down work – now they are being designed with Collaboration in mind.
Conference Rooms must be designed for the needs of the meeting and the people that use them.
Acoustics in the Open
Environment are Critical.
Create a Work Group that Champions Employee
Retention.
New workspaces
incorporate design elements from hospitality, residential, higher ed, and healthcare.
Change Management is essential and Be Ready to Pivot.
Landlord experience
BEST IN CLASS
Large Office Tenant Transactions
Greater STL
200,000 SF
Riverport
75,000 SF
Cortex
60,000 SF
Chesterfield
60,000 SF
Earth City
56,000 SF
South County
55,000 SF
Downtown
52,000 SF
Downtown
40,000 SF
Downtown
40,000 SF
Chesterfield
34,000 SF
WE address...
Reporting
MLA
Local regional national platform
Research & Data
strategic reachouts
Marketing package
Political landscape
Tenant tracking
Creative approach
Director, Research Consulting
ANDREW GARTEN
Senior Marketing Manager
ashlyn dickerson
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Director
JAY TRAVIS
Senior Managing Director
BEN ALBERS, SIOR
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MIKE CARLSON, SIOR, CCIM
Executive Managing Director, Principal
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Mike Carlson, SIOR, CCIM, serves as executive managing director and principal in Newmark Zimmer’s St. Louis office, where he represents both tenants and landlords in the St. Louis marketplace as well as nationally. Mr. Carlson specializes in office leasing, tenant representation and investment sales. The St. Louis Business Journal has recognized him as one of the Heavy Hitters in Commercial Real Estate every year since 2001. Mr. Carlson has also received the CoStar Power Broker Award every year since 2004.
- Society of Industrial and Office Realtors (SIOR)
St. Louis Chapter
- Forecast speaker, 2022
- SIOR Regional Director, 2019-2021
- Chapter president, 2015
- Chapter vice president, 2014
- Chapter secretary, 2013
- Forecast speaker, 2011
-
-
- Habitat for Humanity
- Missouri Athletic Club
- Norwood Hills Country Club
Personal Affiliations:
Mr. Carlson earned a bachelor's degree from the University of Missouri-Columbia, where he double majored in finance and real estate.
Eduation:
Professional Affiliations:
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MIKE CARLSON SIOR, CCIM
Executive Managing Director, Principal
Ben Albers joined Newmark Zimmer in 2015 and currently serves as senior managing director of office brokerage in the company’s St. Louis office, where he focuses on representing tenants and landlords in office property transactions. He is a member of the team led by executive managing director Mike Carlson.
Mr. Albers specializes in strategic planning with corporate and local tenants in order to drive cost savings through market and financial analysis. Additionally, he represents local and institutional owners by developing market expertise, lease negotiations and creative marketing.
In 2019, Mr. Albers received the St. Louis Business Journal’s 30 under 30 award as recognition for his work with Newmark Zimmer and his commitment to the St. Louis community.
- Membership Chair, Cardinal Glennon Development
Board
- Le Roseau Initiative
- Missouri Athletic Club
Personal Affiliations:
- Licensed real estate salesperson, state of Missouri
Professional Affiliations:
Mr. Albers graduated from St. Louis University, where he earned a bachelor's degree in entrepreneurship.
Eduation:
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Ben Albers, SIOR
Senior Managing Director
Jay Travis joined Newmark Zimmer in 2020 and currently serves as a Director in the company's St. Louis office, where he focuses on representing tenants and landlords for office and industrial properties. He is a member of the team led by Executive Managing Director Mike Carlson.
Prior to joining Newmark Zimmer, Jay was an integral part of a St. Louis area global occupier services team, responsible for managing the site selection and relocation process for the client. He also performed market research and strategic planning for various accounts.
Mr. Travis earned a Bachelor of Science degree in business administration with an emphasis in finance and real estate from the University of Missouri - Columbia
Eduation:
- World Pediatric Project - Golf Committee Member
- St. Louis Sports Commission Associates
- Missouri Athletic Club
Personal Affiliations:
- Licensed real estate salesperson, state of Missouri
Professional Affiliations:
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Director
Jay Travis
our team...
Marketing Specialist
Nina lawrence
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TO EXPAND
- Objectively difficult leasing market with high vacancy and low rental
rates – North County.
- Building and submarket lends itself to large corporate users who were
drastically downsizing during COVID era.
- 230,000 SF HQ style building with shrinking number of large corporate
users.
- Achieved a market-beating sale price to large corporate STL company
in July of ’23.
- Given location, a creative marketing approach was utilized to “bring
the building” to the tenants and brokers.
8640 Evans Ave
234,000 SF
- 90,000 SF redevelopment in Downtown West market.
- Widely considered to be significant turnaround project ahead of MLS
stadium development.
- Building had unknown presence in the market; required effective
marketing campaign.
- “Market Mover”: redefined a historically nonexistent office market.
- Tenant decision-making was driven by a unique blend of corporate
oversite (medical) and startup vision which required creative
deal-making approach.
2351 Market St
89,000 SF
-
-
-
-
- Top of market buildings in otherwise high-vacancy campus.
- Complex deal structure that includes large HQ building integrated into multi-tenant building.
- Amenity and building upgrades were main driver to prevent a BTS relocation.
- Largest deal in West County market in 2019.
555/553 MARYVILLE
130,000 SF
- “Market Mover”: Major lease signed in City of Saint Louis during
COVID era.
- Market repositioning from of long overlooked building – low
historical vacancy.
- Amenity and common area upgrades.
- Integrated themes from workplace strategy into marketing.
- Created event and marketing strategy.
- Released space to coincide with existing tenant’s lease expiration to
ensure zero downtime.
HIGHLANDS ONE
145,000 SF
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St. Louis has a lower sublease availability percentage compared to many major metropolitan markets such as Chicago, Dallas, and Atlanta.
4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0%
2.50%
2.72%
1,881,067 SF
3.30%
11,600,230 SF
2,227,264 SF
2.00%
1,238,489 SF
3.80%
10,515,690 SF
3.90%
8,134,855 SF
Second Quarter 2023 Sublease Availability Percentage
St. Louis
Kansas City
Chicago
Indianapolis
Dallas
Atlanta
3.00%
2.75%
2.50%
2.25%
2.00%
1.75%
1.50%
1.25%
1.00%
0.75%
0.50%
0%
1,283,534 SF
1.57%
827,893 SF
1.01%
617,294 SF
0.75%
1,089,282 SF
1.33%
3Q 2020
1Q 2021
1,334,270 SF
1.63%
2Q 2021
1,366,118 SF
1.67%
3Q 2021
1,303,847 SF
1.59%
4Q 2021
1Q 2022
3Q 2022
4Q 2022
1,389,976 SF
1.70%
2Q 2022
1,504,245 SF
1.84%
2,060,215 SF
2.52%
2,069,907 SF
2.53%
1Q 2023
2,322,655 SF
2.84%
2Q 2023
2,227,264 SF
2.72%
2Q 2020
4Q 2020
Local sublease inventory
Life Sciences Practice group Platform
S
Buyer Rep
Seller Rep
St. Louis has a lower sublease availability percentage compared to many major metropolitan markets such as Chicago, Dallas, and Atlanta.
4.0%
3.5%
3.0%
2.5%
2.0%
1.5%
1.0%
0.5%
0%
2.50%
2.48%
1,881,067 SF
3.30%
11,600,230 SF
2,063,599 SF
2.00%
1,238,489
SF
3.80%
10,515,690 SF
3.90%
8,134,855 SF
Third Quarter 2023 Sublease Availability Percentage
St. Louis
Kansas City
Chicago
Indianapolis
Dallas
Atlanta
3.00%
2.75%
2.50%
2.25%
2.00%
1.75%
1.50%
1.25%
1.00%
0.75%
0.50%
0%
1,283,534 SF
1.55%
827,893 SF
1.01%
617,294 SF
0.75%
1,089,282 SF
1.31%
3Q 2020
1Q 2021
1,334,270 SF
1.61%
2Q 2021
1,366,118 SF
1.64%
3Q 2021
1,303,847 SF
1.57%
4Q 2021
1Q 2022
3Q 2022
4Q 2022
1,389,976 SF
1.67%
2Q 2022
1,504,245 SF
1.81%
2,060,215 SF
2.48%
2,069,907 SF
2.49%
1Q 2023
2,322,655 SF
2.80%
2Q 2023
3Q 2023
2,227,264 SF
2.68%
2,063,599 SF
2.48%
2Q 2020
4Q 2020
Local sublease inventory
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Jay Travis
Director
Jay Travis joined Newmark Zimmer in 2020 and currently serves as a Director in the company's St. Louis office, where he focuses on representing tenants and landlords for office and industrial properties. He is a member of the team led by Executive Managing Director Mike Carlson.
Prior to joining Newmark Zimmer, Jay was an integral part of a St. Louis area global occupier services team, responsible for managing the site selection and relocation process for the client. He also performed market research and strategic planning for various accounts.
Mr. Travis earned a Bachelor of Science degree in business administration with an emphasis in finance and real estate from the University of Missouri - Columbia
Eduation:
- World Pediatric Project - Golf Committee Member
- St. Louis Sports Commission Associates
- Missouri Athletic Club
Personal Affiliations:
- Licensed real estate salesperson, state of Missouri
Professional Affiliations:
BACK
Ben Albers
Senior Managing Director
Ben Albers joined Newmark Zimmer in 2015 and currently serves as senior managing director of office brokerage in the company’s St. Louis office, where he focuses on representing tenants and landlords in office property transactions. He is a member of the team led by executive managing director Mike Carlson.
Mr. Albers specializes in strategic planning with corporate and local tenants in order to drive cost savings through market and financial analysis. Additionally, he represents local and institutional owners by developing market expertise, lease negotiations and creative marketing.
In 2019, Mr. Albers received the St. Louis Business Journal’s 30 under 30 award as recognition for his work with Newmark Zimmer and his commitment to the St. Louis community.
- Licensed real estate salesperson, state of Missouri
- Membership Chair, Cardinal Glennon Development
Board
- Le Roseau Initiative
- Missouri Athletic Club
Personal Affiliations:
Professional Affiliations:
Mr. Albers graduated from St. Louis University, where he earned a bachelor's degree in entrepreneurship.
Eduation:
BACK
MIKE CARLSON SIOR, CCIM
Executive Managing Director, Principal
Mike Carlson, SIOR, CCIM, serves as executive managing director and principal in Newmark Zimmer’s St. Louis office, where he represents both tenants and landlords in the St. Louis marketplace as well as nationally. Mr. Carlson specializes in office leasing, tenant representation and investment sales. The St. Louis Business Journal has recognized him as one of the Heavy Hitters in Commercial Real Estate every year since 2001. Mr. Carlson has also received the CoStar Power Broker Award every year since 2004.
Mr. Carlson earned a bachelor's degree from the University of Missouri-Columbia, where he double majored in finance and real estate.
Eduation:
Personal Affiliations:
- Society of Industrial and Office Realtors (SIOR)
St. Louis Chapter
- Forecast speaker, 2022
- SIOR Regional Director, 2019-2021
- Chapter president, 2015
- Chapter vice president, 2014
- Chapter secretary, 2013
- Forecast speaker, 2011
-
-
- Habitat for Humanity
- Missouri Athletic Club
- Norwood Hills Country Club
Professional Affiliations:
-
Certified Commercial Investment Member (CCIM) St. Louis Chapter
Chapter president, 2007 and 201Board member, Missouri Growth Association (MGA), 2007 and 2015
Licensed real estate salesperson, state of Missouri