2019 Q1 Gundaker Commercial Retail Market Report
The St. Louis retail market recorded 37,852 SF of net absorption during 1Q 2019. Direct net absorption totaled 35,566 SF of absorption with Sublet net absorption totaling 2,286 SF for 1Q 2019. The total vacancy rate for 1Q 2019 was 5.5%, a decrease from 5.6% in 4Q 2018 and 5.7% in 3Q 2018. Direct vacancy rates decreased to 5.0% in 1Q 2019 from 5.1% in 4Q 2018 and 5.6% in 3Q 2018. Overall asking rents increased from $12.97 PSF NNN in 4Q 2018 to $13.22 PSF NNN at the close of 1Q 2019.
