Skip to main content Skip to footer

2021 Q3 Industrial St Louis Report Colliers

Download Report
2Q21 Industrial STL

Keeping up with Record Demand

2021 continues to be a great year for the industrial market as the third quarter comes to an end. It was a strong quarter for leasing activity with nearly 4 million square feet (MSF) of deals completed which doubled Q3 2020 numbers. Sales activity is booming with approximately 8.6 MSF sold this quarter. A historic high. This is nearly quadruple the sales activity from one year ago. There continues to be high demand for industrial spaces and new construction is trying to meet that demand. The St. Louis market currently has 5.9 MSF of industrial space under construction and 2.8 MSF already completed in 2021. New construction cannot finish fast enough for the St. Louis market. Vacancy rates have been on a steady decline in recent years and are currently at a record low 3.82% vacant. While vacancy rates continue on this trajectory, asking rents continue to increase. Direct asking rents have increased more than $1 per square foot (PSF) since Q3 of 2020. This is a 25% increase year-over-year in a market that usually shows increases around 7-8% in that same time span. With another strong quarter, the St. Louis Industrial market shows no signs of slowing down and we can expect similar numbers for the remainder of the year.

3Q21 SiteCore2

2021 Q3 Industrial St Louis Report Colliers

Download Report
Related Experts

David Holtzman

Research Analyst

St. Louis - Clayton

View expert

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.

View expert