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2021 Q3 Sublease St Louis Report Colliers

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2Q21 Office Sublease Hero

Sublease Space Still Increasing

Sublease space on the market continues to increase as companies have started returning to the office and many have decided to reduce their leased footprint.  St. Louis saw an additional 100,358 square feet (SF) of sublease space, a 7.72% increase from the previous quarter.  The largest new sublease space is in the Earth City submarket where Lumeris put 80,181 SF at 3251 Riverport Drive on the market.  Close behind is the Ascension Health sublease of 61,818 SF at 11775 Borman Drive in the Westport submarket.  Ascension also has roughly 30,000 SF for sublease at 101 South Hanley Road in the Clayton submarket.  Although these are sizable increases, some submarkets did experience a decline in sublease space including the CBD which saw a 9.34% decrease from the previous quarter.  The CBD still contains the largest amount of sublease space available with 410,579 SF available. Those who are looking for sublease space are in luck as the supply has reached a new high and there are plenty of spaces from which to choose.  Sublease rental rates are attractive as some Class A office space is available for around half of their current direct rate.  However, demand is very low at the moment as many office users are finding success with their employees working from home.       

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2021 Q3 Sublease St Louis Report Colliers

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David Holtzman

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St. Louis - Clayton

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Molly Mastin

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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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