Murray lures national companies to Springfield

There are big plans for the large tract of land at the crossroads of U.S. highways 60 and 65, but those plans themselves sit at the intersection of a shaky economy and big dreams to bring national retail names to Springfield.

Right in the middle of those efforts is Rob Murray III, vice president of Springfield-based commercial real estate firm R.B. Murray Co. and the guest for Tuesday morning's installment of Springfield Business Journal's 12 People You Need to Know.

Murray, a veteran of the commercial real estate industry for more than 15 years, said the economy has caused many potential clients for the 500,000-square-foot property in southeast Springfield to "have their heads in the sand," but he remains confident that big-box retailers like Menard's and Costco want to be in Springfield.

"There are signs of hope," Murray said, pointing to the visibility of the 60/65 property as a strength - more than 120,000 cars pass through the intersection daily. "(The market) will come around. It always does. Give us another two or three years and things will be going."

He said all that's really keeping the project from moving forward is the big-box anchor tenants. There is definite interest from outlet malls and boutique stores, he said, and local developers including Doran Communities, Foster Hospitality Group and Miller-O'Reilly Co. already have signed on for the single-family residential, senior living and green apartment aspects of the project.

He said a Web site will go live in the next few weeks, at project6065.com, to take community input on the future of the development.

The southeast development, however, is not the only project on Murray's plate. His brokerage firm manages more than 1 million square feet of retail space, including the Fremont Center in Springfield and developments in Hollister, Bolivar and Lebanon.

The company moved in 2008 into its new building in TerraGreen Office Park, a Leadership in Energy and Environmental Design concept facility developed by the Murray family. Murray - a self-described "sensible tree hugger" - said that green developments are the future of construction.

"I truly believe that old-school buildings like we've seen in the last five years are going to lose their value compared to contemporary buildings that are energy-efficient and create employee satisfaction," he said, adding that utility costs have been cut in half and employee turnover has dropped to 0.

He also said that building green doesn't have to be more expensive; he pointed out that by designing an intelligent building rather than just adhering to a LEED checklist, his company was able to meet LEED standards at a cost of $160 per square foot, comparable to the cost of a traditional building without green features.