Real Estate

Office:  The Greater St. Louis area, which spans the Missouri-Illinois border, offers a dynamic real estate market with seven distinct submarkets. Greater St. Louis maintains nearly 132 million square feet of office space, approximately 34 percent of which is Class A. At mid-year 2013, vacancy rates for office space was 16.45%.

Industrial:  The regional industrial real estate market is also stable, representing over 235 million square feet under roof. The 223-million-square-foot, multi-tenant, non-manufacturing portion of the St. Louis industrial real estate market began 2011 with a vacancy rate of 6.61%, an average asking rent of $4.25 psf.

Retail:  The St. Louis Retail Real Estate Market comprises of 8.8 million square feet with an average rent of $14.76 psf, an increase of 0.3% from 2012 and a vacancy rate of 12.5%.  The fastest growing segment of the retail real estate market is St. Charles County adding 1.4 million square feet of new retail space in 2012.

Multifamily:  The St. Louis Region has over 119,000 units with an average rent of $769.00 up 1.8% from 2012 and a vacancy rate of 4.9%, the lowest since 2002 with no new developments in the last year.

Within the seven submarkets, the downtown St. Louis area has been one of the hottest markets in recent years. In the past seven years, more than $3 billion has been invested in a variety of projects, from loft condominiums and apartments to new and rehabbed office buildings and hotels to a federal courthouse. In addition, the new Busch Stadium was completed in 2006, and work is continuing on the adjacent land which will house Ballpark Village, a combination of Class A Office Space, retail, and entertainment space.