St. Louis Office Figures Q1 2026

- Absorption was slightly positive in the first quarter at 70,994 sq. ft. The largest contributors to positive absorption were from leases signed by the GSA (31,000 sq. ft) and Delta Dental (50,000 sq. ft.) who occupied at Maritz Campus in the South County Submarket. The most notable move out was Arch Coal (74,000 sq. ft.) at CityPlace 1. This was the first quarter of positive absorption in a year.

- Vacancy recorded modest quarter over quarter improvement, falling 10 basis points (bps) to 21.5% at the close of Q1 2026.

- Overall average asking rates continued to decline in St. Louis as desirable office product is leased at a higher rate than lower rate commodity quality office. The average asking rate in Q1 2026 was $21.40 per sq. ft., down 1.4% quarter-over-quarter and 3.9% year-over-year. 

- The overall office availability rate declined this quarter, decreasing by 20 bps to 23.5%.