Regional Summaries

Select a state to view available market snapshots

St. Louis

The 124,240-unit St. Louis apartment market had the biggest year for new supply since the 1980s, and the vacancy rate increased 100 basis points during 2017 to 5.6%. The rate was up 30 basis points in the fourth quarter. The rate was unchanged in January 2018. Rent gains slowed in 2017 from the prior strong pace due to rising concessions. The average asking rent increased 4.0% over the year to $891 per month, but the average effective rent was up 3.0% to $846 per month. The fourth quarter gains were just 0.4% and 0.2%, respectively. Overall rents increased 0.4% by both measures in January 2018.
The 140.3-million-square-foot St. Louis warehouse/distribution market had one of its best years ever in 2017, with 4.8 million square feet of net absorption and 3.1 million square feet of new supply, each the highest Reis has ever recorded. The fourth quarter totals were 1.4 million square feet for net absorption and 914,000 square feet of new supply. The vacancy rate ended the year at 10.6%, down 150 basis points during 2017 and down 40 during the fourth quarter. The average asking rent increased 3.0% over the year $4.09 psf, with the average effective rent up 3.3% to $3.80 psf. The fourth quarter gains were 0.7% and 0.5%, respectively. The vacancy rate held steady in January 2018, and the average effective rent increased 0.3%. The 11.6-million-square-foot Flex/R&D market has been quieter, with no new supply and a vacancy rate that fell 40 basis points in 2017 to 13.4%. The average asking rent increased just 1.0% over the year to $7.37 psf, with the average effective rent up 1.2% to $6.84 psf. Rents, moreover, were flat in the fourth quarter.
St. LouisÂ’ 45.6-million-square-foot general purpose, multi-tenant office market edged forward in 2017, as the vacancy rate fell 30 basis points to a still-high 15.9%. The rate edged up 10 basis points in the fourth quarter. The vacancy rate held at 15.9% in January 2018. Rents increased slowly for the seventh year in a row in 2017. Both the average asking rent and the average effective rent were up 1.5% for the year, to $21.57 psf and $16.55 psf, respectively. Overall rents were flat in January 2018.
The 29-million-square-foot St. Louis community-neighborhood shopping center market was weak in 2017, with 173,000 square feet of negative net absorption and a vacancy rate that was up 90 basis points during the year to 12.7%. The big hit happened in the fourth quarter, when net absorption came in at minus 140,000 square feet and the rate was up 50 basis points. Even so, average rents managed to rise by 1.7% by both measures over the year and 0.4% for both in the fourth quarter to $15.66 psf asking and $12.93 psf effective. In January 2018, moreover, the vacancy rate fell 20 basis points, and rents were up 0.1% and 0.2%, respectively.

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers



Additional Resources