St. Louis Industrial Figures Q3 2026

St. Louis recorded total net absorption of 1.35 million sq. ft., it’s strongest quarter of net absorption since Q4 2022. The rolling four-quarter average net absorption turned positive at 261,500 sq. ft., up from negative 340,750 sq. ft. in Q2 2026, indicating that recent gains began to offset earlier periods of weakness.

In Q3 2026, market vacancy eased slightly quarter-over-quarter decreasing by 20 basis points to 6.9%, On a year-over-year basis, overall vacancy was 40 bps higher than the 6.5% recorded in Q3 2025.

St. Louis average asking rent reached $5.60 per sq. ft., up 2.6% quarter-over-quarter and 0.4% year-over-year but still below the cyclical high of $5.67 per sq. ft., recorded in Q2 2025. 

Leasing activity in Q3 2026 totaled 3.55 million sq. ft., bringing year-to-date 2026 volume to 7.93 million sq. ft. This was the highest level of leasing activity recorded in St. Louis since Q1 2022.

In Q3 2026, St. Louis recorded 2.64 million sq. ft. under construction and 1.14 million sq. ft. of construction delivered. Despite a contraction of the construction pipeline to the lowest levels since Q4 2024, many notable speculative and built-to-suit developments are planned to break ground in 2027