JLL’s Q3 office insight for St. Louis shows that office absorption has topped 100,000 square feet, bringing the vacancy rate to 12.5 percent. JLL (NYSE: JLL) reports year-to-date absorption in Clayton and West County have combined for 480,000 square feet while the other four submarkets (Downtown, South County, St. Charles County, and Northwest County) are in the red. Low vacancy and strong demand in the county’s prime markets have bumped Class A rental rates up more than six percent in the two submarkets from last year. Class A rental rates average $22.41 for the St. Louis market.
Check out the complete office insight report here.