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St. Louis Five Fast Office Facts

Luke Partridge • 5/11/2023
What key trends impacted the St. Louis Office Market in Q1 2023?
  1. 17.2% Vacancy Rate 
    Overall vacancy decreased 10 basis points in Q1 2023, the first QOQ decline since Q1 2020. 
     
  2. 253,704 SF of Leasing Activity 
    Q1 2023 recorded 253,704 SF of leasing activity and 67,275 SF of positive absorption.  
     
  3. Overall Rental Rates Remain Elevated 
    Overall asking rents in the St. Louis office sector increased to $22.54 in Q1 2023, up from $22.34 in Q4 2022. 
     
  4. 2.5 MSF of Sublease Space Available 
    As of Q1 2023, there is nearly 2.5 MSF of sublease space available in the market with more than 1.4 MSF vacant. 
     
  5. Under Construction: 598,572 SF 
    The St. Louis office market is expected to see 517,000 SF of its 598,572 SF construction pipeline deliver in Q2 2023.  

 

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

FFF---st-louis-Office-2023-Q1-Recap

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