On average, listings lease in the $20's per square foot per year. The Downtown East submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $7 per sqft per year. That's a 24% decline in rent.
Compared to the rest of the St. Louis market, the Downtown East region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 42 listings have been posted online, so you'll want to check back regularly for new listings. About 7% of the available space 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 3,910 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 5 stories. Most buildings in this area were built in 1967 and are Class A.
This area 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.