St. Louis Five Fast Industrial Facts

1. Rents Over $6.00 PSF Becoming the New Normal 
   St. Louis’ Industrial overall asking rents ended Q1 2023 at $6.10 PSF, a 7.4% increase YOY.  
    
2. 3.1% Vacancy Rate 
   At the close of Q1 2023 the St. Louis industrial market had a 3.1% vacancy rate, well below the 10-year average of 5.4% (2013-2022). 
    
3. 23 Consecutive Quarters of Positive Absorption 
   The 313,178 SF of positive absorption in Q1 2023 was driven by 565,900 SF of construction deliveries and 702,941 SF of leasing activity. 
   
   
4. Under Construction: 1.8 MSF 
   After a record year of over 8.0 MSF of deliveries in 2022, there remains 1.8 MSF under construction.  
    
5. 2.9% Unemployment Rate in the St. Louis MSA 
   The unemployment rate for the St. Louis MSA was 60 basis points lower than the U.S. unemployment rate of 3.5% in Q1 2023. 

Find out in our Five Fast Facts below or download the report.