CBRE shares St. Louis regional commercial real estate reports for 1st quarter 2026
To view the full reports, follow the below links:
St. Louis Industrial Report Q1 2026
St. Louis Office Report Q1 2026
Highlights from the recently issued reports include:
In the industrial sector, there was a total of 2.37 million square feet of industrial leasing activity with an average lease rate of $5.49 NNN per square foot.
The largest industrial leases were the AIT Worldwide Logistics lease of 322,000 square feet at 13213 Corporate Exchange Dr. and the Buske Logistics lease of 200,000 square feet at River City Business Park 3.
There were 3.6 million square feet of industrial development projects actively under construction including the Boeing F/A-47 Factory with 979,000 square feet and Amazon at Gateway Tradeport’s new 933,000 square foot distribution facility. The overall vacancy rate for industrial space was 6.8 percent.
[EDITOR’S NOTE: In real estate, “NNN” is an abbreviation for the phrase “triple net lease.” A triple net lease is a type of commercial lease structure that contains a provision saying that the lessee is responsible for covering certain costs associated with operating the property in addition to paying their base rent. With a triple net lease, these operating expenses tend to fall into three separate categories, or “nets.” These typically include: Real estate taxes, property insurance, operating expenses.]
In the office sector, there was positive absorption, and the largest new office leases were the Delta Dental lease of 50,000 square feet and the GSA lease of 31,000 square feet.
The average office lease rate was $21.40 FSG per square foot and the overall office vacancy rate decreased to 21.5 percent.
There were no new office developments under construction, and it has been approximately three years since a new office development has broken ground.
[EDITOR’S NOTE: In an FSG lease—often described as an “all-inclusive” or “full-service” lease—the tenant pays one flat fee, and the landlord covers all operating expenses related to the property, such as taxes, insurance, maintenance, and utilities.]
To learn more, visit CBRE online at https://www.cbre.com/ or reach out to Mark McNulty at CBRE’s St. Louis office, (314) 655-6000.
