On average, listings lease in the $20's per square foot per year. The Downtown East region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $5 per sqft per year. That's a 17% decline in rent.
Compared to the rest of the St. Louis market, the Downtown East submarket has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 37 listings have been posted online, which means new listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 8% of the available leases in the Downtown East are subleases, so you will probably have to focus your search on direct office leases. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,540 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 5 floors. Most buildings in this area were built in 1967 and are Class A.
This market is fairly equally mixed residential and commercial. Utilities is the dominant industry in this market. Most of the residents of Downtown East work from home. Commuting under 5 minutes a day is the norm for those who opt to reside in this part of town.