David Wittenauer, Vice President, NAI DESCO
By KATE GENO
The local NAI DESCO team of 24 brokers and eight support staff combine their connections, resources, and knowledge of the Metro East market to offer a wide range of opportunities and exposure for clients. Often, Missouri businesses expand into Illinois and the company’s network of St. Louis brokers can help facilitate that process smoothly.
NAI DESCO is the St. Louis regional partner of its umbrella company NAI Global, one of the world’s largest real estate companies with 400 offices worldwide. NAI DESCO’s national and international resources allow Vice President David Wittenauer to assist his clients on a greater geographic scale, when necessary.
“We have affiliates in every significant real estate market throughout the country,” says Wittenauer. “It is important to have that synergy with other NAI DESCO agents to market properties and to assist clients who have real estate needs that extend beyond the Metro East.”
Presently, the area that is showing substantial growth opportunity for NAI DESCO is in St. Clair County near the future Memorial Hospital-East and the proposed St. Elizabeth’s Hospital. “The anticipated opening of two hospitals, Memorial Hospital in 2016 and St. Elizabeth’s Hospital soon after, will further enhance commerce in the area,” says Wittenauer. St. Elizabeth’s move is still pending state approval.
There are lucrative opportunities available for medical, restaurant and office developments with such close proximity to the future hospitals.
The firm is experiencing a lot of growth in the Green Mount Road corridor near I-64. Wittenauer was successful in negotiating a transaction with Gander Mountain, the nation’s largest retail network of outdoor specialty stores with 154 locations. Gander Mountain is building a new 61,000-square-foot store in Central Park Plaza near Green Mount Road that is scheduled to open in May.
Additionally, NAI DESCO is marketing a new development at Illinois Route 157 and Governors Parkway in Edwardsville (which includes the Madison Mutual Insurance Co. property, a business that has indicated it would relocate if the property sells). The 148,000-square-foot, planned Edwardsville Town Center shopping center should attract quick service restaurants and mid-box retailers to the area directly across from the eastern entrance of SIU Edwardsville.
Wittenauer anticipates that 2015 will be a promising year for commercial real estate as business expansion is continuing to improve and gaining more momentum.
“There are more projects in planning and permitting stages for 2015 in Southwestern Illinois than there has been since before the recession, which is obviously a very good sign.”