Lambert privatization panel hires real estate consultant

As it begins its review of 18 potential bidders to lease St. Louis Lambert International Airport, a city committee is hiring a consulting firm to review the development potential for more than 1,000 acres of vacant land owned by the airport.

The Airport Advisory Working Group voted Thursday to contract with Cushman & Wakefield, a global real estate firm with a large St. Louis area presence, to analyze the property and recommend commercial, industrial and other uses.

The information provided could aid bidders in preparing their proposals for Lambert and help the city structure a lease deal if officials decide to go ahead with one.

Cushman & Wakefield will be paid $60,000 for a “highest and best use” analysis and on a per-hour basis for further advisory services.

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