Report | St. Louis Office Insight - Q4 2015
The suburbs or the CBD? For more and more tenants in St. Louis that answer seems easy—with vacancy rates dropping to an average of 12.6 percent in the area’s five suburban submarkets (a 230 basis point improvement from a year ago).
The reduced vacancy rate has led some landlords in the suburbs to begin asking for higher rent rates, especially in Clayton and West County. We think this may push more cost conscious tenants to look again at the CBD and its many spacing options.
New construction is also finally kicking off after several years of occupancy growth. A massive 233,000-square-foot tower will rise in Clayton and a 125,000 square-foot property will open in West County over the next few years.
Learn more about what’s happening—and what we expect to occur in the coming months—across the St. Louis office market in our Q4 US Office Insight.
To access the report, simply complete the form.