St. Louis Office Market
| Average Asking Rent (Price/SF) | $21.20 |
| Vacancy Rate (%) | 11.0% |
| Net Absorption (SF) | 99,468 |
The St. Louis office market realized record highs for asking rental rates in the second quarter of 2020, as rents increased to $21.20/SF, up $0.86/SF from second-quarter 2019. Market vacancy rose to 11.0%, a decrease of 10 basis points from the prior quarter and unchanged from one year ago. Total net absorption in the quarter measured 99,468 square feet, bringing the total for the past four quarters to negative 17,754 square feet. Construction projects underway during the quarter totaled 457,000 square feet, as no projects delivered to the market.
Download St. Louis Office Market Report 2Q20St. Louis Industrial Market
| Average Asking Rent (Price/SF) | $4.52 |
| Vacancy Rate (%) | 5.9% |
| Net Absorption (SF) | -553,234 |
The St. Louis industrial sector loosened in the second quarter of 2020. During this period, the market saw absorption of negative 553,234 square feet. Overall vacancy increased 20 basis points from the prior quarter to 5.9%, while average quoted rents decreased from $4.61/SF to $4.52/SF. Various projects delivered 606,689 square feet of product to the market during the quarter, while developments under construction decreased to 1.7 million square feet of product planned for delivery.
Download St. Louis Industrial Market Report 2Q20