Future Cities
St. Louis Market
2025 North America Industrial Big-Box Review & Outlook
April 16, 2025 5 Minute Read
Supply & Demand
Industrial big-box leasing in St. Louis declined to just 2.4 million sq. ft. in 2023, all of which occurred in transactions under 500,000 sq. ft. Less leasing and some move-outs from spaces over 500,000 sq. ft. resulted in negative net absorption and an increased big-box vacancy rate of 6.1%. Despite rise in vacancies, taking rents increased by 15.1% in facilities under 500,000 sq. ft. There is 5 million sq. ft. under construction in the market, nearly all preleased. The lack of new space from development should help stabilize vacancy growth and maintain the upward trend in rents in 2024.
Figure 4: Share of 2023 Leasing by Occupier Type
Source: CBRE Research.
Figure 5: Lease Transaction Volume by Size Range
Source: CBRE Research.
Figure 6: 2023 Construction Completions vs. Overall Net Absorption by Size Range
Figure 7: Direct Vacancy Rate by Size Range
Figure 8: Under Construction & Percentage Preleased
Figure 9: First Year Taking Rents (psf/yr)
Source: CBRE Research.
Explore Big-Box Insights by Market
Industrial & Logistics Research
James Breeze
Vice President, Global Industrial and Retail Research
John Morris
President, Americas Industrial & Logistics, Advisory Services
