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St. Louis

Apartment
The 126,380-unit St. Louis apartment market had a strong first quarter of 2019 for occupancy, as 160 units of new supply was exceeded by 286 units of net absorption. The vacancy rate fell 10 basis points to a moderate 5.5%, also down 10 basis points from a year earlier. Rents are still rising, but the pace is slowing. During the first quarter the average asking rent increased 0.2% to $940 per month, with the average effective rent up 0.4% to $890 per month. The year-over-year gains are still large at 4.0% and 3.7%, respectively.
Industrial
The 144-million-square-foot St. Louis warehouse/distribution market first quarter 2019 vacancy rate stands at 11.6% after an increase of 140 basis points over six months. During the first quarter both the average asking rent and the average effective rent increased 0.5%, to $4.20 psf and $3.93 psf, respectively. The year-over-year gains were 2.2% asking and 2.3% effective. The 11.65-million-square-foot Flex/R&D market first quarter 2019 vacancy rate is up 100 basis points year-over-year and 60 during the period to a high 14.2%. The average asking rent is nonetheless up 1.6% year-over-year to $7.56 psf, with the average effective rent up 1.7% to $7.03 psf.
Office
The 45.6-million-square-foot St. Louis general purpose, multi-tenant office market vacancy rate was up 20 basis points over the first quarter of 2019 and 40 year-over-year to 16.6%. Rents are still edging up, as the average asking rent increased 0.3% in the first quarter to $21.88 psf and the average effective rent rose 0.2% to $16.76 psf. The year-over-year gains are 1.2% and 1.1%, respectively.
Retail
The 28.8-million-square-foot St. Louis community-neighborhood shopping center first quarter 2019 vacancy rate was 12.7%, while elevated and up 60 basis points year-over-year, was down 30 for the first quarter alone. Community-neighborhood shopping center rents increased 0.6% by both measures in the first quarter, to $15.86 psf asking and $13.10 psf effective. The year-over-year gains were 1.0% and 0.9%, respectively.

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

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CBC Blue Book

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CBC Infographics

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