St. Louis Office Figures Q2 2026

Absorption turned negative in the second quarter recording -211,671 sq. ft. The most notable move out was MasterCard (72,000 sq. ft.) at 5555 Winghaven Blvd. in the St. Charles County submarket. Conversely, the largest contributors to positive absorption were Penny Mac occupying 2199 Innerbelt (77,000 sq. ft) in North County and Watch Tower Security occupying 54,000 sq. ft. at 3251 Riverport also in  North County.

Vacancy increased this quarter by 40 basis points (40 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 Q2 2025 was $21.25 per sq. ft., up 0.5% ($0.11) quarter-over-quarter. 

The overall office availability rate declined for the second quarter in a row, decreasing by 40 bps to 22.9%.

There remained no non-owner-user office product under construction in the St. Louis Region as of the second quarter.

Leasing activity totaled 830,000 sq. ft. in Q2 2026 an increase of 17% (120,000 sq. ft) quarter-over-quarter.