The typical asking rate per listing is in the $20's per square foot per year. The Downtown East submarket is experiencing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 24% decrease in rent.
Compared to the rest of the St. Louis market, the Downtown East submarket has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 42 listings have come on the market, so you'll want to check back regularly for new listings. About 7% of the available leases in the Downtown East are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 3,910 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are close to 5 floors. Most buildings in this area were built in 1967 and are Class A.
This region is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Most of the folk 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.