St. Louis Office Market
| Average Asking Rent (Price/SF) | $21.67 |
| Vacancy Rate (%) | 12.1% |
| Net Absorption (SF) | -410,788 |
The St. Louis office market realized a slight increase in asking rental rates in the first quarter of 2021, as rents climbed to a record high of $21.67/SF, up $0.03/SF from fourth-quarter 2020. Market vacancy rose to 12.1%, an increase of 50 basis points from the prior quarter and an increase of 120 basis points from one year ago.
Download St. Louis Office Market Report 1Q21St. Louis Industrial Market
| Average Asking Rent (Price/SF) | $4.66 |
| Vacancy Rate (%) | 5.4% |
| Net Absorption (SF) | 2,514,732 |
The St. Louis industrial sector tightened in the first quarter of 2021. During this period, the market realized positive absorption of 2.5 million square feet, the largest quarterly absorption since third-quarter 2017. Overall vacancy decreased 70 basis points from the prior quarter to 5.4%, while average quoted rents decreased from $4.71/SF to $4.66/SF. Three properties, the 154,940-square-foot Soulard Commerce Center, the 34,000-square-foot flex property at 2878 Telegraph Road and the 33,000-square-foot building located at 700 Fountain Lakes Boulevard, delivered 221,940 square feet of product to the market during the quarter, while developments under construction increased to 2.7 million square feet of product planned for delivery.
Download St. Louis Industrial Market Report 1Q21 Download St. Louis Retail Market Report 4Q20 Download St. Louis Capital Market Report 4Q20