Saint Louis Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $23.58 2024 Avg. Asking Rent
  • -1.74% Y-o-Y Avg. Asking Rent Change
  • 19.81% 2024 Office Vacancy Rate
  • $73.9M2024 Total Office Sales
  • $34.07Avg. Sale Price/SF

Saint Louis office price per square foot in 2024 was $23.58 on average. This marked a -1.74% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 19.81% across all asset classes combined. The 8 transactions that closed here throughout 2024 amounted to a total sale volume of $73.9M. Saint Louis office space commanded an average sale price per square foot of $34.07.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Saint Louis Class A & A+ Office Space$25.81
  • Saint Louis Class B Office Space$21.25
  • Saint Louis Class C Office Space$16.33
  • Missouri Class A & A+ Office Space$26.39
  • Missouri Class B Office Space$21.02
  • Missouri Class C Office Space$17.35

Saint Louis, MO Office Asking Rents by Class

Average office rent in Saint Louis rested at $23.58 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Saint Louis averaged $25.81 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.25 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.33 per square foot, on average. Comparably, statewide Missouri average office rents by class in 2024 were: $26.39 per square foot for class A office space; $21.02 per square foot for class B office space; $17.35 per square foot for class C office space.

2024 Office Vacancy Rates in Saint Louis

Submarket Asking Rents Vacancy Rates
St. Louis - West $39.38 10.17%
Clayton $31.52 11.59%
Southern St. Louis County $26.71 11.46%
Brentwood - Maplewood $26.38 23.05%
Highway 40 Corridor $24.62 24.30%
Crestwood $24.02 12.42%
Olive Boulevard - Creve Coeur $23.57 24.57%
Kirkwood - Frontenac $22.31 19.17%
St. Louis - Central West End $20.88 20.99%
Maryland Heights $20.69 19.99%
Western St. Louis County $20.00 5.28%
I-70 - St Charles Rock Rd $19.95 4.61%
St. Louis - Central Business District $18.12 21.10%
St. Louis - Downtown West $13.84 12.06%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Saint Louis market was 19.81% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Saint Louis was 4.61% in the I-70 - St Charles Rock Rd submarket, while the highest office vacancy in the market was 24.57%, recorded in Olive Boulevard - Creve Coeur.

Office Spaces for Rent in Missouri

Saint Louis Office Sale Price per SF

  • $34.072024 Avg. Price per SF
  • $73.9M2024 Office Sales Volume
  • 82024 Number of Transactions

Saint Louis, MO Sale Price per SF Trend

  • Saint Louis Avg. Sale Price per SF in 2024$34.07
  • Missouri Avg. Sale Price per SF in 2024$41.55
The sale price for office space in Saint Louis averaged $34.07 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Missouri average office sale price during the same time period was $41.55 per square foot.

2024 Office Sales Volume

  • Saint Louis, MO Total Office Sales Volume in 2024 $73.9M
  • Saint Louis, MO Total Number of Office Sales Closed in 2024 8
A total of 8 deals closed on the Saint Louis office market in 2024, adding up to a yearly sales volume of $73.9M. Notably, the largest transaction on the market saw Bank of America Building change hands for $9,697,000 on 9/6/2024.
Data provided by Yardi Research

Coworking Spaces in Missouri

2024 Office Construction in Saint Louis, MO

  • Saint Louis, MO Total SF completed in 2024 85,000

During 2024, 85,000 square feet of new office space were delivered across the market. At the close of 2024, the Saint Louis office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 85,000 square feet of office space.

Largest Office Properties Recently Completed in Saint Louis
Office building Address SF Completed
Park Pacific 1212-1228 Olive St, 63103 249,456 2011
Grace Lofts 1320-1324 Washington Ave, 63103 7,500 2007
Broadway Pointe I 1520 S 3rd St., 63104 125,440 2004
Highlands Plaza One 1001 Highlands Plaza Drive West, 63110 144,585 2001
Witte Building. 707 N. Second St., 63102 61,648 1999
Witte Building. 707 N. Second St., 63102 61,648 1999
St. Louis Marketplace 6660 Manchester Road, 63139 282,535 1992
One Metropolitan Square 211 North Broadway, 63102 1,040,829 1989
2627-2629 Gravois Ave 2627-2629 Gravois Ave, 63118 2,490 1989
4200 Sarpy Ave 4200 Sarpy Ave, 63110 1,352 1988

Worth noting among recent office completions on the Saint Louis market is Park Pacific, which is currently the largest new office development in the city, at 249,456 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Saint Louis commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.