The regional industrial real estate market is also extremely strong, representing over 235 million square feet under roof. Through the first half of 2006, both absorption and construction completions totaled nearly three million square feet. Speculative construction accounted for two-thirds of that new space, with much of that leased before construction was complete.* | Construction Cost Index | | City | Factories | Warehouses | Offices | | St. Louis | $70.65 | $56.11 | $111.17 | | U.S. Average | $68.00 | $54.00 | $107.00 | Source: "Building Construction Cost Data" RS Means, 2006.
Note: Office cost data is for Low-Mid Rise (1 to 10 stories). |
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One of the hottest markets in recent years has been downtown St. Louis, where more than $3 billion has been invested since 1999 in a variety of projects, from loft condominiums and apartments to new and rehabbed office buildings and hotels to a federal courthouse. In addition, the new Busch Stadium was completed in 2006,and work will soon begin on the adjacent, $600 million Ballpark Village. Ongoing land developments in both the Missouri and Illinois portions of the region are making significant commercial and industrial sites available as never before across the region. No less than seven new industrial parks offering over 5,000 acres combined are now available or in development.** Contact us for more details or use the search tools provided below. The most recent SIOR market forecasts for Greater St. Louis are also available below. Office and Industrial Real Estate Information | Office Market by Submarket | | Market | Office-Total
RBA (sq ft) (1) | Office-Quoted
Rates (1) | Industrial-Total
RBA (sq ft) (2) | Industrial-
Quoted Rates (2) | | Illinois | 7,320,535 | $17.60 | 29,165,562 | $3.86 | | St. Louis City | 35,850,558 | $15.93 | 85,243,218 | $3.71 | | Central County | 25,750,711 | $20.86 | 28,878,533 | $5.73 | | North County | 13,251,528 | $18.76 | 43,830,458 | $5.04 | | South County | 5,929,410 | $18.35 | 20,425,801 | $6.02 | | West County | 12,704,768 | $22.90 | 24,846,509 | $6.97 | | St. Charles County | 7,802,554 | $18.04 | 26,816,248 | $5.25 |
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| Office Market by Class | | Market | St. Louis, MO-IL MSA
Office-Total RBA (sq.ft.) (1) | St. Louis, MO-IL MSA
Office-Quoted Rates (1) | U.S. Office-
Quoted Rates (3) | | Class A Market Statistics | 31,894,401 | $22.08 | $28.79 | | Class B Market Statistics | 47,615,533 | $17.22 | $21.48 | | Class C Market Statistics | 29,100,130 | $15.50 | $18.09 | | Total | 108,610,064 | $18.75 | $24.03 |
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| Industrial Market by Type | | Market | St. Louis, MO-IL MSA
Industrial-Total RBA (sq.ft.) (2) | St. Louis, MO-IL MSA
Industrial-Quoted Rates (1) | U.S. Industrial-
Quoted Rates (3) | | Flex | 13,101,506 | $10.54 | $11.85 | | Warehouse | 246,104,823 | $4.44 | $5.39 | | Total | 259,206,329 | $4.77 | $6.22 | Sources:
(1) "Total Office Market Statistics," The CoStar Office Report Year-End 2007, St. Louis Office Market, CoStar Group, Inc., 2007.
(2) "Total Industrial Market Statistics," The CoStar Industrial Report, Year-End 2007, St. Louis Industrial Market, CoStar Group, Inc., 2007.
(3) "Total Office Market Statistics," The CoStar Office Report, Year-End 2007, National Office Market, CoStar Group Inc., 2007.
(4) "Total Industrial Market Statistics," The CoStar Office Report, Year-End 2007, National Industrial Market, CoStar Group, Inc., 2007.
Note: RBA=rentable building area. |
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*Source: Colliers Turley Martin Tucker, “Mid-Year 2006 St. Louis Market Report”
**Source:Colliers Turley Martin Tucker, “2006 St. Louis Market Report”
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