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Office market gets back on track

  • ​​The local economy continues to move full steam ahead. Unemployment is the lowest since the dot-com era, and office employment has been at record levels for several months. The office market is no different. As expected, the market gained in Q2. Absorption topped 160,000 square feet as Clayton and West County added almost 300,000 square feet. 
  • Class A vacancy is just 4.3 percent in Clayton and 7.4 percent in West County. If you are a tenant looking in either market for 25,000 square feet, there are only four options available, none in Clayton. Meanwhile, nine Class A buildings in the CBD can accommodate that size requirement. The CBD remains a tenant’s market as vacancy rates are double what they are in the suburbs.

Source: JLL Research



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