房地产 -2025年第四季度圣路易斯办公室数据 St. Louis Office Figures Q4 2025

CBRE

FIGURESIST.LOUISOFFICEIQ42025

High21%

21.2%v(532,811)oov$21.61

vacancyRateSFNetAbsorptionSFconstructionDeliveredSFunderconstructionFSG/YRDirectLeaseRate

Note:Arrowsindicatechangefrompreviousquarter.

FIGURE1:HistoricalAbsorption,Deliveries,andvacancy

MARKETOVERVIEW

vacancy%

-Absorptionwasnegativethisquarterat-532,811sq.ft.largelydrivenbytwousers.Blue

crossBlueshielddidasignificantdownsize/relocationvacating1831chestnutinthecBDdistrict(318,000sq.ft.)andEdwardJonesvacatedandlisted1245JJkelleyinthe

Manchester270district(216,978sq.ft.).

overallvacancyrosetoarecordhighof21%driveninlargepartbylargecorporationsdownsizinginQ42025.

Theoverallaverageaskingratecontinuedtofall,decreasingby$0.02to$21.61asthemostdesirableofficespacesinst.Louisremaininhighdemandandlowerqualityproductis

vacated

-st.LouisofficeleasingdeclinedslightlyinQ42025recording524,996sq.ftofactivity.Leasingactivityslowedquarter-over-quarterfalling104,980sq.ft.

source:CBREResearch,Q42025

FIGURES|ST.LOUISOFFICE|Q42025

2CBRERESEARCH©2026CBRE,INC.

vacancy

InQ42025theoverallofficevacancyraterosetoat21.2%,withclassAspaceat25.1%,and

classBspaceat18.4%.comparedtothepreviousquarter,theoverallvacancyrateclimbedby110basispoints(532,811sq.ft).

DowntownwasthelargestdriverofvacancyincreasingthisquarterwithBluecrossBlueshieldvacating1831chestnut(318,000sq.ft.)followedbyEdwardJonesvacating1245JJkelleyin

westcounty(216,978sq.ft.).

AskingRent

Theoverallaverageaskingratecontinuedtofall,decreasingby$0.02to$21.61asthemost

desirableofficespacesinst.Louisremaininhighdemandandlowerqualityproductisvacated

classAaskingrentwas$23.10persq.ft.atthecloseofQ42025andclassBaskingrentwas$18.99persq.ft.

FIGURE2:vacancyRatesbyclass

source:CBREResearch,Q42025

FIGURE3:Avg.DirectAskingRate(FSG/YR)byclass

source:CBREResearch,Q42025

FIGURES|ST.LOUISOFFICE|Q42025

3CBRERESEARCH©2026CBRE,INC.

NetAbsorption

Absorptionwasnegativethisquarterat-532,811sq.ft.largelydrivenbytwousers.BluecrossBlueshielddidasignificantdownsize/relocationtotheDeloitteBuilding,vacating1831

chestnutinthecBDdistrict(318,000sq.ft.)andEdwardJonesvacatedandlisted1245JJkelleyintheManchester270district(216,978sq.ft.).Ifnotforthesetwospecificassets,

absorptioninst.Louiswouldhavebeenflatat2,167sq.ftpositiveabsorption.

otherlargecorporatemoveoutsinclaytonalsocontributedtonegativeabsorptionthis

quarter.Monetavacated100SBrentwoodBlvdinwhichresultedinanetmoveoutof51,750sq.ft.)andcentenepartiallyvacatedcenteneplazaA(38,928sq.ft.).

Thelargestmoversofpositiveabsorptionwerethest.LouispoliceFoundation'spurchaseof11720Bormanforconversion(93,535sq.ft.),MonetaGroup'smoveinat190carondeletplaza(54,554sq.ft.)andHokoccupyingtheirnewheadquartersat701Marketst(44,895sq.ft.).

constructionActivity

Therearenoofficeprojectsactivelyunderconstructioninst.LouisasofQ42025.IthasbeenthreeyearsthisFebruarysinceanewofficebuildinghasbrokengroundinst.Louis.

classAmmclassBRolling4QAvg.

source:CBREResearch,Q42025

FIGURE5:constructionActivity

source:CBREResearch,Q42025

FIGURES|ST.LOUISOFFICE|Q42025

4CBRERESEARCH©2026CBRE,INC.

LeasingActivity

st.LouisofficeleasingdeclinedslightlyinQ42025recording524,996sq.ftofactivity.Leasingactivityslowedquarter-overquarterfalling104,980sq.ft.

Thetwolargesttransactionsthisquarterwerebothdowntown.Aconfidentialtenantrenewed

at600washingtonAve(118,770sq.ft.),aconfidentialclientrenewedtheirleaseat500N

Broadway(75,680sq.ft.).Additionally,peabodyEnergyannouncedtheirrelocationandsignedaNewLeaseat1245JJkelleyMemorialDr.(75,680sq.ft)intheManchester270District.

FIGURE7:Leasingbysubmarketosq.ft.andup

source:CBREResearch,Q42025

FIGURE6:LeasingActivityTrendosq.ft.andupsq.Ft.millions

FIGURE8:keyLeaseTransactions

Tenantsq.Ft.LeasedTransactionTypeAddresssubmarket

confidentialTenant

118,770Renewal515N6thstDowntown

confidentialTenant

75,680

Renewal

Downtown

500NBroadway

peabodyEnergy

57,810

NewLease

westcounty

1245JjkelleyMemorialDr

25,982

NewLease

Nideccorporation

westcounty

55wportplz

18,503

Renewal

Lexiconservices

westcounty

600kellwoodpkwy

stifelFinancial

11,673

Renewal

westcounty

520MaryvillecentreDr

HubInternational

9,444

NewLease635-645MaryvillecentreDrwestcounty

Maher&company

8,797

Renewal

101SHanleyRd

Midcounty

source:CBREResearch,Q42025

FIGURES|ST.LOUISOFFICE|Q42025

5CBRERESEARCH©2026CBRE,INC.

MarketstatisticsbyIndex

NetRentableArea

Totalvacancy

TotalAvailability

DirectAvailabilitysubleaseAvailability

Avg.DirectAskingRate(FSG/YR)

currentQuarterNet

AbsorptionYTDNetAbsorption

20,746,949

23.2

24.5

2.7

25.19

(241,756)(21,248)

classB

14,769,174

20.22

(39,468)(395,474)

classc

3,776,010

20.21

(16,344)(13,068)

39,292,133

23.27

(297,568)(429,790)

NetRentableArea

TotalAvailability

DirectAvailability

subleaseAvailability

Avg.DirectAskingRate(FSG/YR)

currentQuarterNet

AbsorptionYTDNetAbsorption

8,997,256

29.3

31.8

31.5

0.3

19.93

57,914147,832

classB

4,273,129

27.4

29.3

27.8

1.4

16.43

(283,894)(401,184)

classc

642,800

12.6

15.0

13.7

(9,263)(22,578)

13,913,185

27.9

30.2

29.6

(235,243)(275,930)

NetRentableArea

Totalvacancy

TotalAvailability

DirectAvailability

currentQuarterNet

AbsorptionYTDNetAbsorption

29,744,205

25.1

26.7

24.7

2.0

(183,842)126,584

classB

19,042,303

2.2

(323,362)(796,658)

classc

4,418,810

(25,607)(35,646)

Total

53,205,318

21。61

(532,811)(705,720)

FIGURES|ST.LOUISOFFICE|Q42025

6CBRERESEARCH©2026CBRE,INC.

Marketstatisticsbysubmarket

DoywntownA

B

C

13,913,1858,997,2564,273,129642,800

963,818,617

332,613,855

511,131,356

1273,406

67,95322,57937,502

7,872

3,886,5702,636,4341,168,85881,278

27.45%

29.05%

26.48%

1.42%

27.93%

29.30%

27.35%

12.64%

4,114,1572,835,911

88,256

91,46122,579

7,872

4,205,6182,858,4901,251,00096,128

30.23%

31.77%

29.28%

14.95%

(235,243)

57,914(283,894)(9,263)

$18.78

$19.93

$16.43

$13.72

MetroEast

3,711,256

179,502

197,493

4,84%

5.32%

238,951

256,942

6.92%

(34,022)$17.39

A

535,199

45,605

63,596

8.52%

11.88%

57,603

75,594

14.12%

(g197$24.19

B

1,921,718

105,755

105,755

5.50%

5.50%

153,206

153,206

7.97%

$14.97

C

1,254,339

28,142

28,142

2.24%

2.24%

28,142

28,142

2.24%

(8,754)$15.10

Midcounty

9,369,999

1,314,393

1,345,246

14,03%

14,36%

1,432,401

1,467,718

15.66%

(73,458)$28.23

A

5,328,309

763,491

786,626

14.33%

14.76%

752,601

780,200

14.64%

(529)$32.61

B

455,226

462,944

14.03%

14.27%

561,557

569,275

17.54%

(68,513)$23.93

C

95,676

95,676

12.01%

12.01%

118,243

118,243

14.84%

(4,416)$22.13

Northcounty

1,084,506

1,745,326

20.02%

32.23%

1,163,383

1,746,762

32.25%

44,168$16.34

A

3,173,335

849,913

295,311

1,145,224

26.78%

36.09%

878,858

295,311

1,174,169

37.00%

13,534$16.72

B

1,835,643

227,064

592,573

12.37%

32.28%

30.76%

28,559$15.16

C

407,081

7,529

7,529

1.85%

1.85%

1.97%

2,075$15.59

southcounty

2,637,432

8.91%

8.91%

6.07%

3,837$23.73

A

15.34%

15.34%

78,284

78,284

6.61%

$25.32

B

5.01%

5.01%

71,489

71,489

8.30%

4,148$22.87

C

10,31

10,31

1.74%

1.74%

10,31

10,31

1.74%

(311)$17.69

st.charlescounty

2,375,383

285,185

305,903

12.01%

12.88%

296,379

317,097

13.35%

(15,888)$20.18

A

1,282,860

188,472

209,190

14.69%

16.31%

197,451

218,169

17.01%

1,456$23.98

B

1,017,822

95,172

95,172

9.35%

9.35%

97,387

97,387

9.57%

(17,344)$17.45

C

74,701

1,541

1,541

2.06%

2.06%

1,541

1,541

2.06%

$13.00

westcounty

15,782,004

3,446,164

3,558,143

21.84%

22.55%

3,978,510

4,233,302

26.82%

(222,205)$2403

A

9,242,936

2,367,751

2,432,482

25.62%

26.32%

2,549,928

2,748,805

29.74%

(247,020)$26.11

B

5,887,964

996,399

1,043,647

16.92%

17.73%

1,333,875

1,389,790

23.60%

29,753$20.39

C

651,104

82,014

82,014

12.60%

12.60%

94,707

94,707

14.55%

(4,938)$19.09

GrandTotal

53,205,318

10,363,466

11,273,780

19.48%

21.19%

11,383,865

12,387,523

23.28%

(532,811)$21.61

FIGURES|ST.LOUISOFFICE|Q42025

7CBRERESEARCH©2026CBRE,INC.

FIGURES|ST.LOUISOFFICE|Q42025

MarketAreaoverview

Definitions

Total

Availablesq.Ft.dividedbythetotalbuildingArea.AverageAskingLeaseRate:Acalculatedaveragethatincludesnetandgrossleaserate,weightedbytheircorrespondingavailablesquarefootage.BuildingArea:Thetotalfloorareasq.ft.ofthebuilding,

typicallytakenatthe"dripline"ofthebuilding.GrossActivity:Allsaleandleasetransactionscompletedwithinaspecifiedtimeperiod.Excludesinvestmentsaletransactions.GrossLeaseRate:Renttypicallyincludesrealpropertytaxes,buildinginsurance,

excludesoneormoreofthe"net"costs(realpropertytaxes,buildinginsurance,andmajormaintenance)typicallyincludedinaGrossLeaseRate.occupiedsq.Ft:BuildingAreanotconsideredvacant.vacancyRate:Totalvacantsq.Ft.dividedbythetotalBuildingArea.vacantsq.Ft:spacethatcanbeoccupiedwithin30days.

surveycriteria

officebuildings10,000sq.ft.orgreater.Excludessingletenantowneroccupiedbuildings,Governmentownedandoccupiedbuildings,orMe