Figures

St. Louis Office Figures Q1 2025

St. Louis Posts Best Quarter of Net Absorption Since 2017

April 4, 2025 5 Minute Read

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-St. Louis has posted its best quarter of net absorption since 2017 with 439,919 SF of positive absorption. This was fueled by large Class-A occupancies along the HWY 40 corridor in addition to continued growth in the Clayton market.
-Vacancy contracted for the firm time since Q2 2022 in the first quarter to 18.3%, a decrease of 80 bps. Prime Class-A vacancy also decreased to the lowest level on record to 10.3%.
-Asking rates remained largely flat across the board at $22.21 SF but Class A rates have decreased for the past four quarters as prime spaces are leasing and large blocks of desirable Class-A office space becomes increasingly scarce.
-Leasing velocity clocked in at 828,000 SF of activity. This is down 17% over Q4 2024 as users are increasingly wary of economic conditions and large block so of desirable Class-A space become increasingly challenging to find available.