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2019 Q2 Colliers St Louis Office Report

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Positive Momentum

The St. Louis office market remained steady through 2Q19. Overall market fundamentals are healthy – vacancy rates dropped from one year ago, asking rental rates remain high and construction activity continues to be the top story for the market. 

 

The office market overall vacancy rate dropped slightly to 13.27%, down from 13.54% one year ago. The direct asking rental rate rose to $20.43 per square foot (PSF), a $0.43 increase year-over-year. Although the quarter saw positive absorption, the year-to-date absorption rate remains negative due to a few larges vacancies that became available in first quarter. Construction activity is still high with almost 1.3 million square feet (MSF) under construction. Centene’s large 640,000-SF building in Clayton makes up half of current construction activity. The rest of the construction is predominantly in St. Louis City (9.4% Downtown CBD, 28.1% Midtown and 9.8% Outer St. Louis City). This has provided a much-needed boost to a market that has historically struggled. The 120,000-SF office building at Ballpark Village will be the first new, Class A office building in downtown St. Louis in over thirty years.


Q2 2019 Office

2019 Q2 Colliers St Louis Office Report

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Molly Mastin

Senior Director - Marketing & Research

St. Louis - Clayton

As Senior Director of Marketing & Research in St. Louis, Molly is responsible for the implementation of the Colliers International brand standards, oversight of the creation and development of marketing-related materials, and strategic marketing initiatives. She specializes in new business proposals, client presentations, event planning and property marketing.

Molly has worked in the commercial real estate industry since 2003. She has been involved in a wide range of responsibilities in both the marketing and research departments. Prior to joining Colliers International, Molly worked as the director of marketing and research with Gateway Commercial, a Cushman & Wakefield affiliate. She is a licensed salesperson in the state of Missouri.

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