The St. Louis Industrial market is off to another strong start this year as demand for industrial space remains high. Vacancy rates dropped to 2.78% in the first quarter, the lowest rate recorded in recent history. Absorption posted strong numbers as well with over 1 million square feet (MSF) in positive absorption, the second straight quarter absorption has recorded over 1 MSF. Metro East led the way with 489,245 square feet (SF) in positive absorption. Both the Metro East and North County submarkets have been doing exceptionally well and account for 84% of the current under construction projects. The St. Louis Industrial market has close to 8 MSF under construction today. These are record high numbers that have not been seen since we began tracking Industrial construction. St. Louis is expecting at least 4.5 MSF of these projects to be complete in 2022. Most of this space will be arriving in the North County (2.42 MSF) and Metro East (1.06 MSF) submarkets.