St. Louis Industrial Figures Q1 2026

- Absorption was negative this quarter, largely driven by Royal Canin’s move out of 674,000 SF at 5157 Inner Park Dr.
Total vacancy increased 40 basis points (bps) to 6.8%, the highest rate recorded post-pandemic. This was largely driven by the Metro East submarket vacancy increasing 320 bps to 11.9% and North County vacancy increasing by 120 bps to 8.9%. 

- Overall availability in the region increased by 20 bps to 8.4%
The total average asking rate was $5.49 NNN an increase of $0.01 (0.18%).

- St. Louis industrial leasing activity in Q4 2025 totaled 2.37 million sq. ft.

- There is currently only one speculative asset in the development pipeline, Maryland Heights Commerce Center 1, which broke ground in Q4 2025. The remaining 3.24 million sq. ft. is built-to-suit product.