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A lot changes in five years

​In 2012 everyone was singing “Call Me Maybe” and dancing to “Gangnam Style.” But for the St. Louis industrial market, everything was not so upbeat. Vacancy was 9.1 percent, new construction was non-existent, and 18 spaces over 200,000 square feet were available. The market was showing signs of turning, having absorbed one million square feet. Little did everyone know, 2012 marked the beginning of a huge market expansion. Since then, the market has absorbed 16 million square feet and delivered 11 million square feet of new construction, including record breaking years for both in 2016. Vacancy rates are lower in all submarkets and asking rates are up 16.0 percent. So as you can see, a lot can change in just five years.

Source: JLL Research

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