On average, listings lease in the $20's per square foot per year. The Downtown East submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $6 per sqft per year. That's a 25% rise 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, 32 listings have been posted online, which means leases might be going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,350 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 7 stories. Most buildings in this market were built in 1968 and are Class A.
This region is fairly equally mixed residential and commercial. Utilities is the dominant industry in this region. Most of the occupants 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.