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Gundaker Commercial Group ranks 138 in St. Louis' Top 150 Privately Held Companies

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3/27/2009

St. Louis' Top 150 Privately Held Companies: 126-150
St. Louis Business Journal

“Cautiously optimistic.”
Roughly one-fourth of the executives we interviewed at St. Louis’ largest private companies used that phrase — cautiously optimistic — to describe the outlook for 2009. I bet the other three-fourths were thinking it, if they’re optimistic at all.
It’s the reality of today’s business landscape, not just in St. Louis, but around the globe. No matter the industry, every company is feeling the effects of this recession. And although business leaders are hopeful that we’re near the bottom and that a recovery will begin at some point this year, they’re not being Pollyannas about it.

I don’t need to point out all the troubling stats and signs that lead to caution. Instead, I’ll mention a potential bright spot for those seeking a reason for optimism.

The housing industry is often viewed as a leading indicator for where the economy is heading. It’s one of the first sectors to slump, and one of the leaders of the rebound. If that’s the case this time, we can be encouraged that the Commerce Department reported a 22.2 percent jump in housing starts in February. Meanwhile, St. Louis’ largest homebuilder, McBride & Son Homes, said it sold 300 homes in the first two months of the year, compared to 1,400 homes total in 2008.

I’d like to thank Business Journal researchers Evan Binns and Lucie Wolken, who did a commendable job putting together this year’s list of the top 150 privately held companies. As our researchers quickly found, it’s much easier to get revenue information from private companies when business is going well rather than when the economy is slumping. Evan, in particular, spent countless hours seeking the most accurate and up-to-date revenue and employee figures, and then double- and triple-checked it all. This year’s list includes nine newcomers and fewer pure estimates, a testament to the researchers’ hard work.
Rob Hurtt, Section editor

138. Gundaker Commercial Group
2008 revenue: $90.8 million -3.4%

Gundaker Commercial Group, one of St. Louis’ largest commercial real estate and development firms, saw a slight revenue drop in 2008, but it has several new housing developments under construction. The Chesterfield-based firm started construction in late December on the 48-unit Wingate Manor apartments in Shiloh, Ill., and is beginning construction on the 34-unit Villas at Peruque Hills apartments in St. Charles County. Gundaker Commercial Group also is completing construction on the third phase of Stratford Manor, a 78-unit senior housing development in North St. Louis County. “Senior, multi-family, for-lease and affordable housing is an (active) market,” said President and CEO Mike Hejna. “Capital funding or the lack therof is going to preclude any other kinds of significant development.”

Gundaker Commercial Group’s brokerage division, Grubb & Ellis|Gundaker Commercial, is based in Clayton. Gundaker Commercial Group’s Asset Management division manages more than a million square feet of commercial space and has more than 2,000 multi-family units under management or in development. Gundaker Commercial Group is owned by Gordon Gundaker Jr., who joined the firm full-time in 2007 after retiring as chairman of Coldwell Banker Gundaker, the largest residential real estate agency in the state.

Leadership: Chairman Gordon Gundaker Jr., President and CEO Mike Hejna
2007 revenue: $94 million (rank 124)
Employees: 130 local, 132 total

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