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Local commercial real estate on the rebound

Thursday, November 22, 2012

WN.com - Business News
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Local commercial real estate on the rebound
Nov 23rd 2012, 06:20

St. Louis' commercial real estate market is bouncing back from its years-long funk. New construction remains hard to find but existing offices from St. Charles County to downtown St. Louis are attracting new tenants. In many areas, vacancy rates are down, the amount of occupied space is up and rental rates are stable, commercial real estate experts say. The St. Louis region's third-quarter vacancy rate for all commercial space fell to 13.2 percent from 13.8 percent in the second quarter, according to a new report by Colliers International. Meanwhile, rental rates appear to have bottomed out at $17.40 per square foot. Still, the Colliers report — aptly titled "Is St. Louis Turning a Corner?"...

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