MARKET OVERVIEW 12-month net absorption at the halfway point of 2024 totaled 1.3 million SF, the lowest level in over a decade, down from 2.6 million SF a year ago. The local vacancy rate has risen to 4.6%, as new supply has outpaced demand in three of the past five quarters. This has caused St. […]
OFFICE MARKET OVERVIEW The St. Louis office market has started to stabilize through 24Q1. Office space demand reached 1.1 million SF over the trailing 12 months, the highest level since 2017. Space users have been active recently, as one large property from Washington University delivered, and several other companies purchased vacant buildings over the past […]
RETAIL MARKET OVERVIEW The market has seen positive absorption in eight consecutive quarters through the first quarter of 2024. Net absorption reached 1.5 million SF over the trailing four quarters, the highest annual total since 2017. A significant factor behind the tight market conditions in St. Louis has been a lack of new supply. Over […]
2023-q1-gundaker-commercial-retail-report
