Gershman’s Report Shows Solid Office Activity in St. Louis

By on July 5, 2018

From REJournals:  The St. Louis office market? It’s steady these days, according to the latest numbers from Gershman Commercial Real Estate. It’s important to note, though, that steady doesn’t mean stagnant. The St. Louis office market saw plenty of important developments in the second quarter of this year.

Gershman reported that the overall office vacancy rate for the St. Louis market stood at 11.4 percent at the end of the second quarter. That’s down just slightly from a vacancy rate of 11.5 percent at the end of the first quarter of the year.

The Clayton submarket remained the strongest, with a low vacancy rate of 5.5 percent overall and 3.6 percent for Class-A properties at the end of the second quarter.

Absorption did rise. Gershman reported a positive net absorption of 157,556 square feet of office space at the end of the second quarter. That’s an improvement when compared to the first quarter of the year, which saw negative 397,029 square feet of absorption.

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