Figures

St. Louis Industrial Figures Q4 2024

Metro East Begins to turn the Corner; Driving Leasing Activity and Positive Absorption

January 8, 2025 5 Minute Read

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-Absorption, although still positive, experienced a muted quarter posting just 171,000 SF.
-Vacancy remained flat at 4.7% in Q4 and did not experience an increase for the first time since Q4 2022. Strong leasing in the Metro East helped to drive vacancy down 130 bps while the Metro West experienced an uptick of 100 bps to 4.8%.
-Average direct asking rates remained stable this quarter decreasing by only $0.02 to $5.66 NNN.
-Transaction volume remained roughly flat with 1.28 MSF of leasing activity across the St. Louis Metro.
-Industrial Investment sales volume totaled $155 Million in Q4, the strongest quarter of activity since Q3 of 2023 ($274 Million).