Figures

St. Louis Office Figures Q4 2024

Large Blocks of Quality Space Become Increasingly Scarce.

January 8, 2025 5 Minute Read

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-Direct availability continued its downward trend in Q4, decreasing by 4.4% (478,000 SF) to 10.2 MSF.
-Absorption was negative this quarter (-35,000 SF) despite strong leasing activity in top-of-market space, The largest mover was Energizer vacating their old headquarters at 533 Maryville in a relocation to Clayton.
-Sublease listings experienced their first sizeable uptick in many quarters, increasing 267,000 over the 3rd quarter to 1.37 MSF
-Vacancy remained flat this quarter at 18.3% as users continue to take large blocks of space in key submarkets.
-Leasing velocity was up 21% bringing total Q4 activity to just over 1 MSF. The increase can primarily be attributed to strong leasing activity in both Clayton and the HWY 40 corridor.
-Capital markets activity posted its best quarter of 2024 with $133 M in activity.