St. Louis Office Market
| Average Asking Rent (Price/SF) | $21.30 |
| Vacancy Rate (%) | 10.8% |
| Net Absorption (SF) | 15,989 |
The St. Louis office market realized record highs for asking rental rates in the third quarter of 2020, as rents increased to $21.30/SF, up $0.69/SF from third-quarter 2019. Market vacancy remained flat compared to the prior quarter at 10.8%, decreasing 10 basis points from one year ago. Total net absorption in the quarter measured 15,989 square feet, bringing the total for the past four quarters to 90,869 square feet. Construction projects underway during the quarter totaled 634,750 square feet. The 160,000-square-foot Edge @ BRDG, four-story lab and office building at 1001 North Warson Road in St. Louis, officially delivered to the market in third-quarter 2020.
Download St. Louis Office Market Report 3Q20St. Louis Industrial Market
| Average Asking Rent (Price/SF) | $4.54 |
| Vacancy Rate (%) | 6.1% |
| Net Absorption (SF) | 150,591 |
The St. Louis industrial sector tightened in the third quarter of 2020. During this period, the market saw absorption of 150,591 square feet. Overall vacancy increased 40 basis points from the prior quarter to 6.1%, while average quoted rents increased from $4.51/SF to $4.54/SF. Various projects delivered 1.1 million square feet of product to the market during the quarter, while developments under construction increased to 2.6 million square feet of product planned for delivery.
Download St. Louis Industrial Market Report 3Q20