Saint Louis Office Rent Price & Sales Report

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.

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

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • 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

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%
Data provided by Commercial Edge
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 19.80% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Saint Louis was 0.86% in the Western St. Louis County submarket, while the highest office vacancy in the market was 32.83%, recorded in Highway 40 Corridor.

Office Spaces for Rent in Missouri

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
The sale price for office space in Saint Louis averaged $77.96 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Missouri average office sale price during the same time period was $66.76 per square foot.

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
A total of 3 deals closed on the Saint Louis office market in 2023, adding up to a yearly sales volume of $34.1M. Notably, the largest transaction on the market saw NorthPark - 8640 Evans Lane change hands for $9,700,000 on 7/7/2023.
Data provided by Commercial Edge

Coworking Spaces in Missouri

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.

Largest Office Properties Recently Completed in Saint Louis
Office building Address SF Completed
2000-2010 S 8th St (Soulard) 2000 S 8th St, 63104 11,868 2005
Highlands Plaza One 1001 Highlands Plaza Drive West, 63110 144,585 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
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
Peabody Plaza 701 Market Street, 63101 427,000 1986
600 Washington 600 Washington Ave., 63101 385,000 1986
Deloitte Building 100 South 4th Street , 63102 287,250 1986

Worth noting among recent office completions on the Saint Louis market is 2000-2010 S 8th St (Soulard), which is currently the largest new office development in the city, at 11,868 square feet.

Data provided by Commercial Edge

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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 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.