Over 5.6 MSF Under Construction in St. Louis Industrial Market

ST. LOUIS, July 12, 2016 – Cushman & Wakefield announced today that the St. Louis industrial market has more than 5.6 million square feet of space currently under construction and has completed over 2.05 million square feet year-to-date. “There has never been more industrial space under construction at one time in the last 15 years than there is now in the St. Louis market,” said Brian Ungles, Cushman & Wakefield Managing Principal. “A combination of strong absorption and historically low vacancy rates are pushing developers and tenants to build.” In addition, the St. Louis office market experienced record absorption in the second quarter, ending with 355,000 square feet of positive absorption. “This brings year-to-date absorption to 554,000 square feet, dropping the vacancy rate by 180 basis points in the last six months to 12.6%, the lowest vacancy rate in St. Louis since 2001,” said Mr. Ungles. Q2 2016 Highlights by [...]

2018-04-13T10:02:14-05:00July 27th, 2016|In the News|