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2022 Q2 Sublease Report Colliers

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2Q22 SiteCore6

High Sublease Availability

The office sublease inventory continues to climb, reaching 1.55 million square feet (MSF) this past quarter. The fourth quarter in a row of increased inventory. The largest sublease to hit the market in Q2 was the Panera sublease at Laumeier I (3630 S Geyer Rd). Panera vacated 110,834 SF in the South County submarket, which has seen relatively few subleases in the past. The most significant amount of sublease space available is in the Earth City submarket with 358,468 SF available, followed by the CBD with 250,467 SF. The Magellan Health sublease block in Earth City remains the largest available with 223,500 SF available.


Large block subleases continue to be the main reason for high sublease availability in the market today. Nearly half of all spaces available for sublease in the St. Louis MSA come from the five largest blocks. Many users continue to transition to hybrid working environments, and it is why we are seeing these availabilities today. With 70% of the available sublease spaces located in Class A buildings, potential users have a unique opportunity to enter or return to the office market. However, the user will have to be comfortable taking on the remaining term and limited tenant improvement offerings.



2Q22 SiteCore3

2022 Q2 Sublease Report Colliers

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