St. Louis Retail Market Report

Daily needs anchor suburban retail as legacy districts recalibrate. Sector conditions in 2026 are set to reflect ongoing realignment as the market works through bankruptcy-driven closures and leasing remains necessity- and service-led. Grocery, fitness, and value retailers should continue targeting outer residential nodes, especially higher-income northern suburbs, where vacancy held near all-time lows below 4 percent last year. In contrast, leasing has softened along the Interstate 64 Corridor amid heavy big-box and mall-adjacent retail exposure, though repositioning is underway in more affluent western areas. An experiential concept from Dick’s Sporting Goods will replace Nordstrom at the Saint Louis Galleria, while Chesterfield Mall is being turned into a $2-billion-plus mixed-use district. Visitor spending could add support if momentum holds, after St. Louis led major U.S. markets in hotel booking growth in 2025 and a $54 million renovation began at The Dome at America’s Center to draw larger events.