On average, listings lease in the $20's per square foot per year. The Downtown East region is seeing a a boost in rates. In the last 3 months, the median rate increased $9 per sqft per year. That's a 45% rise in rent.
Compared to the rest of the St. Louis market, the Downtown East submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 32 listings have come on the market, which means new listings are probably leasing quickly. 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 buildings in this area are around 7 floors. Most buildings in this region were built in 1968 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.