St. Louis Office Market Report
Resilient Showing During the Pandemic Sets Stage For a Comparatively Faster Rebound in St. Louis
Recovery commences in the second quarter. From April through June of this year, St. Louis registered net absorption greater than 500,000 square feet. This snapped a nine-month streak of negative recordings totaling 2.4 million square feet relinquished. Improved demand in the second quarter of 2021 indicates that the recovery is making headway. Leasing activity ramped up the fastest in North St. Louis County and St. Charles County, two submarkets where local asking rents trail the market average. Top-tier offices in these areas have been generating demand, with each submarket noting Class A absorption of 120,000-plus square feet in the second quarter.