2023 Office Space Rent & Sales
- $24.60 2023 Avg. Asking Rent
- 19.80% 2023 Office Vacancy Rate
- $34.1M2023 Total Office Sales
- $77.96Avg. Sale Price/SF
Saint Louis office price per square foot in 2023 was $24.60 on average. The local office market recorded an average vacancy rate of 19.80% across all asset classes combined. The 3 transactions that closed here throughout 2023 amounted to a total sale volume of $34.1M. Saint Louis office space commanded an average sale price per square foot of $77.96.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Saint Louis Class A & A+ Office Space$25.72
- Saint Louis Class B Office Space$22.43
- Saint Louis Class C Office Space$15.13
- Missouri Class A & A+ Office Space$24.89
- Missouri Class B Office Space$20.58
- Missouri Class C Office Space$22.78
Saint Louis, MO Office Asking Rents by Class
Average office rent in Saint Louis rested at $24.60 per square foot in 2023. 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 $25.72 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.43 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $15.13 per square foot, on average. Comparably, statewide Missouri average office rents by class in 2023 were: $24.89 per square foot for class A office space; $20.58 per square foot for class B office space; $22.78 per square foot for class C office space.
2023 Office Vacancy Rates in Saint Louis
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Clayton | $31.93 | 16.21% |
Brentwood - Maplewood | $27.95 | 18.23% |
Southern St. Louis County | $26.75 | 14.55% |
Crestwood | $26.08 | 23.47% |
Olive Boulevard - Creve Coeur | $23.42 | 19.49% |
Kirkwood - Frontenac | $22.86 | 8.65% |
Highway 40 Corridor | $22.69 | 32.83% |
Maryland Heights | $20.06 | 19.58% |
Western St. Louis County | $19.96 | 0.86% |
St. Louis - Central Business District | $18.39 | 23.99% |
St. Louis - Central West End | $12.75 | 16.06% |
St. Louis - Downtown West | $12.00 | 12.83% |
Saint Louis Office Sale Price per SF
- $77.962023 Avg. Price per SF
- $34.1M2023 Office Sales Volume
- 32023 Number of Transactions
Saint Louis, MO Sale Price per SF Trend
- Saint Louis Avg. Sale Price per SF in 2023$77.96
- Missouri Avg. Sale Price per SF in 2023$66.76
2023 Office Sales Volume
- Saint Louis, MO Total Office Sales Volume in 2023 $34.1M
- Saint Louis, MO Total Number of Office Sales Closed in 2023 3
Coworking Spaces in Missouri
- Houston Coworking Space
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- Tulsa Coworking Space
- Cleveland Coworking Space
2023 Office Construction in Saint Louis, MO
- Saint Louis, MO Total SF completed in 2023 322,000
- Saint Louis, MO Total SF under construction in 2024 85,000
During 2023, 322,000 square feet of new office space were delivered across the market. At the close of 2023, the Saint Louis office inventory included 2 buildings equal to or larger than 25,000 square feet, which comprised 322,000 square feet of office space. Looking forward, development activity throughout 2024 is estimated to add 85,000 square feet of office space to the market, before year-end.
Office building | Address | SF | Completed |
---|---|---|---|
5901-5903 Delmar Blvd | 5901-5903 Delmar Blvd, 63112 | 29,610 | 2013 |
Park Pacific | 1212-1228 Olive St, 63103 | 249,456 | 2011 |
Monkey Building | 1430 Washington Avenue, 63103 | 27,045 | 2006 |
Highlands Plaza One | 1001 Highlands Plaza Drive West, 63110 | 144,585 | 2001 |
717 North 16th Street | 717 North 16th Street, 63103 | 25,000 | 2001 |
1401 Dr Martin Luther King Dr | 1401 Dr Martin Luther King Dr, 63106 | 6,200 | 2001 |
St. Louis Marketplace | 6660 Manchester Road, 63139 | 282,535 | 1992 |
Cyrus F. Blanke Building | 1310 Papin Street, 63103 | 221,000 | 1991 |
One Metropolitan Square | 211 North Broadway, 63102 | 1,040,829 | 1989 |
Blue Cross/Blue Shield | 1831 Chestnut St., 63103 | 425,000 | 1988 |
Worth noting among recent office completions on the Saint Louis market is 5901-5903 Delmar Blvd, which is currently the largest new office development in the city, at 29,610 square feet.
See reports for other markets
- Kansas City Office Rent Price
- Creve Coeur Office Rent Price
- Chesterfield Office Rent Price
- Clayton Office Rent Price
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- Washington Office Rent Price
- Seattle Office Rent Price
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- Houston Office Rent Price
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- Dallas Office Rent Price
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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.