St. Louis Retail Market Report

Pre-leased projects provide tailwind for suburbs. University City historically attracts national brands due to its proximity to several colleges, including Washington University and the University of Missouri-St. Louis. However, the opening of Costco's fourth store in the metro as an anchor tenant for the mixed-use Market at Olive project is expected to draw other retailers hoping to establish a presence in the new commercial corridor. While Costco will bring local shoppers to the area, the hotel that is part of the project will enhance leisure spending from out-of-market customers. Even with the addition of over 200,000 square feet of retail space in the submarket, Central St. Louis County will retain one of the lowest vacancy rates in the metro, as a rise in consumer traffic encourages additional retailer expansions.