Q4 2019 Market Report

2019 ended much like it started with steady demand in the industrial sector and minimal speculative office development. Growing interest in the Cortex District from both local companies and out of town entities is driving greater awareness of what St. Louis has to offer, but job growth still remains sluggish with just over 13,000 jobs created in 2019. Centene topped off its second office tower of 600,000 SF in Clayton in Q4 with over 95% pre-leased and at record rental rates.  

Demand for newer industrial product continues to drive many Build to Suit projects. Speculative bulk product continues to hit the market, but developers are experiencing a slower lease up period from prior years.