The St. Louis Commercial Real Estate Market

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St. Louis brokers, buyers, tenants, and landlords close more deals faster using Crexi’s commercial real estate tools suite. Across the US, investors and organizations eye St. Louis’s commercial real estate market as a promising investment market with stable fundamentals and favorable ROI. 

Crexi’s technology empowers both buyers and tenants to explore hundreds of St. Louis properties and quickly reach out to St. Louis-focused brokers. Over 92% of Crexi’s online traffic consists of actively-seeking principals and tenants, searching for the perfect St. Louis property investment. 

Brokers utilize Crexi’s listing, lead management, and marketing tools to win deals in St. Louis and the surrounding cities. Crexi’s simple, robust marketplace allows St. Louis brokers to quickly network with buyers and tenants who’ve already indicated their interest in the region.

As of this writing, Crexi has supported over $330 billion in property transactions and marketed properties totaling more than $2 trillion in value.

Crexi proudly serves St. Louis, Florissant, Clayton, Ferguson, and the surrounding region as the fastest-growing online commercial real estate marketplace.

The State of Commercial Real Estate in St. Louis

Located along the Missouri and Mississippi Rivers in southern Missouri, St. Louis is the perfect strategic location boasting world-class companies, highly skilled talent, and a low cost of doing business. The metropolitan area is the largest in Missouri, and the seventh-largest metro in the Great Lakes Region.

Known as a booming center for commerce in the Midwest, St. Louis is within a 2-day drive of nearly the entire U.S. 

The metro area is home to Fortune 500 companies and a growing population employed in the technology and creative sectors. Major firms located in the St. Louis region include Anheuser-Busch, Nestle Purina PetCare, Wells Fargo, U.S. Bank, the U.S. Department of Agriculture, and the Federal Reserve Bank of St. Louis.

A low cost of living and a high quality of life help to make St. Louis the ideal place to live and do business. The region is home to several world-renowned research universities, countless local attractions year-round, and three professional sports teams.

St. Louis Regional Breakdown

While the population of St. Louis as a whole is holding steady, some suburban counties are posting respectable gains. Since the last census, St. Charles County northwest of the city and other counties west of the city have seen total net population gains of more than 66,000 new residents.

  • St. Louis is home to nearly 300,000 people in the city and more than 2.8 million residents in the metropolitan area.
  • Population of St. Louis declined by 0.12% last year.
  • St. Louis is the most-populous metropolitan area in Missouri and the seventh most populous metro area in the Great Lakes Region.
  • Counties located in the St. Louis metro area include Franklin, Jefferson, Lincoln, and St. Louis counties in Missouri, along with the Illinois counties of Bond, Clinton, Madison, and Monroe.
  • Median age in St. Louis is 39.7 years, slightly higher than the figure for the state and the U.S.
  • Per capita income in St. Louis is $37,365 and median household income is $66,417.
  • Median household income in St. Louis increased by nearly 6% last year.

Job Market

The job market in St. Louis grew by 0.02% last year, with unemployment currently at 4.2%. According to the U.S. Bureau of Labor Statistics, employment sectors showing the strongest signs of growth include construction, leisure and hospitality, and professional and business services.

  • GDP of the St. Louis, MO-IL MSA is over $173 billion and has grown by nearly 29% over the past decade.
  • Employment growth in St. Louis was 0.02% last year, while median household income grew by 5.8% and property values rose by 2.2% over the same time period.
  • Key industry sectors in metropolitan St. Louis include bio-technology, chemicals, electrical equipment manufacturing, aerospace, and printing and publishing.
  • Major companies in St. Louis include Anthem BlueCross and Blue Shield, Express Scripts, Ameren Corporation, Stifel Financial, Wells Fargo Advisors, and National Geospatial-Intelligence Agency.
  • Largest employers in St. Louis are Boeing Defense, SSM Health, BJC HealthCare, Mercy, and Washington University in St. Louis.
  • Three national research universities are located in St. Louis: Saint Louis University, Washington University in St. Louis, and University of Missouri-St. Louis.
  • Over 93% of the residents of St. Louis are high school graduates or higher, and nearly 36% hold a bachelor’s degree or an advanced degree.

Transportation infrastructure of the St. Louis region includes four interstate highways with national access, six Class I railroads, five airports, and the Port of St. Louis, America’s third largest inland port.

St. Louis Industrial Market

Demand for industrial space in St. Louis is driving vacancy rates to all-time lows, with nearly 3 million square feet of space absorbed year-to-date. Triple net asking rents have increased by 6.6% compared to the same time last year, due to strong tenant demand combined with lack of supply.

  • Total industrial inventory: 255,153,018 SF
  • Average asking rent: $5.02 per SF per year, net
  • Vacancy rate: 4.4%
  • Absorption: 2.9 million SF (YTD)
  • New construction: 970,498 SF delivered year-to-date with 4.1 million SF under construction
  • New leases: 15.4 million SF (Q2 2021)
  • Largest industrial submarkets: City of St. Louis, North County, Metro East, St. Charles

Learn more about St. Louis industrial property for lease.

St. Louis Office Market

Leasing activity has increased by 61% quarter-over-quarter, driving asking rental rates for office space in St. Louis to record highs, according to Newmark. Only one new office construction project is currently underway, with 41.7% of the available space already pre-leased.

  • Total office inventory: 74,235,556 SF
  • Average asking rents: $21.66 per SF year, full service gross
  • Vacancy rate: 12.8%
  • Absorption: -157,500 SF (Q2 2021)
  • New construction: 224,585 SF under construction with no new office deliveries in the current quarter
  • Largest office submarkets: Downtown, Mid County, West County, Clayton

Learn more about St. Louis office property for lease. 

St. Louis Retail Market

The asking rent for retail space in St. Louis has increased slightly year-over-year with local retail market leasing activity driven by tenants like Dollar General and The Edge Fitness Clubs. Although big box space accounts for nearly 80% of the market’s inventory, small shop retail space in St. Louis boasts the lowest vacancy rate of 2.7% and the highest asking rents of $17.25.

  • Total retail inventory: 164,209,252 SF
  • Average asking rent: $13.02 per SF per year, NNN
  • Vacancy rate: 5.00%
  • Absorption: -462,436 (Q1 2021)
  • Top submarkets for leasing activity: City North, City South, Far West Suburbs, Far Southwest Suburbs
  • Top submarkets for small shop space: Metro East, St. Louis City, St. Charles County 
  • Largest retail submarkets: Metro East, North-Northeast County, St. Charles County

Learn more about St. Louis retail property for lease.

St. Louis Multifamily Market

The multifamily market in St. Louis entered the pandemic in a position of strength, although the rebound is occurring more slowly. While new supply is expected to outpace demand, investors still like what they see in St. Louis. The price per apartment unit sold grew by 26.3% year-over year, marking a new high, according to YardiMatrix.

  • Total housing units: 1,267,434
  • Renter occupied: 31%
  • Total multifamily units: 291,510
  • Average asking rent: $1,003 per month
  • Asking rent growth: 0.1% quarter-over-quarter
  • Vacancy rate: 5.1%
  • New construction: 401 units delivered with 4,491 under construction
  • Sales trends: Transaction activity of $175 million for a price per unit of $148,386
  • Popular multifamily neighborhoods: Skinker DeBaliviere, Central West End Saint Louis, Downtown Saint Louis
  • Median household income: $66,417
  • Per capita income: $37,365

Learn more about St. Louis multifamily property for sale.

How Crexi Connects Buyers and Tenants to St. Louis Commercial Properties

Using Crexi’s platform, buyers and tenants across the US can easily browse through available St. Louis assets spanning multiple property types. Nestled alongside the Mississippi River, St. Louis represents a vibrant trade hub with plentiful investment options, low vacancy rates, and attractive cap rates.

Searching buyers and tenants can quickly sort St. Louis property for sale and lease using Crexi’s free and powerful searching tool. Interested parties can browse assets by price or rate per square foot, class, available square footage, cap rates, property subtypes, and neighborhood.

After finding the ideal commercial property, interested parties can directly reach out to the listing broker using Crexi’s secure messaging tool. St. Louis seekers can download brochures and OMs and even submit a letter of intent (LOI) via Crexi’s secure platform.

Intelligence Connects Investors to Data and Market Knowledge 

As they seek their next investment, St. Louis investors and renters need in-market information to make the best possible decisions: enter Crexi Intelligence. 

The Crexi Intelligence subscription equips investors and tenants with a powerful database containing thousands of third-party-verified sales comps and detailed market information. With Intelligence, buyers and tenants enjoy instant access to regional trends and in-depth demographic insights on every property page.

Intelligence is available to buyers, sellers, and tenants on a subscription basis.

How St. Louis Brokers Thrive with Crexi

Crexi features more than 1,200 St. Louis properties for sale and for lease within the city limits. Industrial and office are among the most popular St. Louis property types, attracting investors seeking favorable cap rates and choices for 1031 exchanges.

Using Crexi, St. Louis brokers can easily market and manage properties across asset classes, including:

  • Industrial units
  • Hospitality facilities
  • Multifamily units
  • Mixed-Use developments
  • Land Parcels
  • Retail buildings
  • Office buildings
  • Non-traditional buildings such as medical offices, self storage, data centers, etc.

Crexi’s online tools empower brokers to navigate their properties from the initial list to close quickly. St. Louis realtors can easily connect with interested leads while getting real-time insights into buyer and tenant behavior. Also, Crexi’s secure file storage lets brokers easily manage any due diligence paperwork online.

However, Crexi’s broker technology reveals its full potential with Sale PRO, Lease PRO, and All PRO. 

Crexi PRO Dashboard 2020

Crexi All PRO

Crexi Sale PRO and Lease PRO simplify and supercharge St. Louis brokers’ workflows with powerful lead management tools, branded lead reports, and in-depth marketing analytics. PRO brokers enjoy preferential placement at the top of Crexi’s search pages, immediately viewable by buyers and tenants looking for St. Louis properties.

Crexi also sends weekly email blasts to thousands of leads nationwide, highlighting a curated list of PRO listings based on each user’s browsing history. Powered by machine learning, this customization wins Crexi emails a higher click-through rate (CTR) average of 10-15% more than industry standard.

Crexi PRO members also enjoy complete access to Intelligence’s database of 40 million sales comps and MSA market reports. 

Brokers — including those in the St. Louis-Napier-Elgin MSA — use Crexi PRO to directly and efficiently connect with the more than 420,000 leads interested in St. Louis in the last two years and the over 12.5 million leads nationwide who searched using Crexi in 2021.

On average, PRO brokers win 125% more leads and close six-to-eight more deals on average than non-PRO users.

Contact to learn more about All PRO.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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