St. Louis Office Market Report

Office absorption picking up across the metro. St. Louis again lands among the ten least vacant major markets this year. Demand gained the most momentum in the central and west parts of St. Louis County, followed by the city itself. These areas should see further improvement in 2025 amid additional planned move-ins, the largest of which being SSM Health’s sublease of 181,600 square feet from Centene near Kirkwood. Development, meanwhile, remains modest across the metro. Projects underway at the start of the year include The Carriage Works in St. Louis proper, which will add 41,000 square feet of Class A office space to the Cortex Innovation community. Demand is improving for higher-tier space marketwide. The overall Class A vacancy rate fell 200 basis points last year, led by net absorption in West St. Louis County. Availability among mid- and low-tier offices also entered 2025 with downward momentum, though the overall low level of 7.9 percent — less than half the Class A metric — may limit how quickly tenants can find suitable floorplans going forward.