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2021 Q2 St Louis Industrial Market Report

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2Q21 Industrial STL

Construction Activity Remains High

The St. Louis industrial market posted another strong quarter in Q2 and is showing few signs of slowing down. Vacancy dropped by over two percentage points from the previous year from 6.10% to 4.07% and rental rates are steadily increasing. Overall net absorption increased over 500,000 square feet (SF) compared to Q2 2020 and absorption is likely to increase as the year progresses. St. Louis is still a seller’s market in Q2 2021. Year-to-date sales activity numbers are strong compared to previous years and currently exceed 5 million square feet (MSF).  Construction activity remains high to meet the continued demand for more inventory. The industrial market added close to 1 MSF in Q2, 200,000 SF more than construction completions one year ago. The largest addition this quarter was in St. Charles County with Medline’s new 811,300-SF warehouse distribution facility in Premier 370 Business Park (5000 Premier Parkway). There is still a high demand for industrial space throughout the St. Louis market and with over 2 MSF still under construction, St. Louis should be able to meet that demand. Amazon continues to dominate the industrial scene and currently has two new locations under construction in the North County and St. Charles submarkets totaling 405,000 SF.  2021 has been a strong year thus far and is expected to continue in a positive direction.  

2Q21 Industrial

2021 Q2 St Louis Industrial Market Report

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