St. Louis Office Figures Q3 2026

Absorption was positive in the third quarter recording 117,000 sq. ft. The positive turn was driven largely by Peabody Energy (52,000 sq. ft.) and Unigroup Inc. (54,000 sq. ft.)  occupying at 1245 Jj Kelley Memorial Dr. in the West County submarket. 

The overall average asking rent in Q3 2026 was $21.13 per sq. ft., down from $21.24 per sq. ft. in Q2 2026, a decrease of $0.11 per sq. ft. or 0.5% quarter-over-quarter. Year-over-year, the overall average asking rent declined from $21.65 per sq. ft. in Q3 2025 to $21.13 per sq. ft. in Q3 2026, a reduction of $0.52 per sq. ft. or 2.4% year-over-year. 

The overall office vacancy rate declined quarter-over-quarter 30 bps to 21.5%. The bulk of this decline in vacancy was from occupancies in Class A properties which drove the Class A vacancy rate down by 90 bps quarter-over-quarter to 22.8%. 
There was no active construction in St. Louis during the third quarter.

Leasing activity totaled 618,000 sq. ft. in Q3 2026 a decrease of 24.8% (200,000 sq. ft) quarter-over-quarter.