Downtown St. Louis has a higher total vacancy rate than any other comparison city on this list but the Class A space vacancy is lower on average than any other. Not all cities broke down total numbers and Class A numbers. Many Class B and C office buildings have or are in the process of being converted to residential buildings. No other comparison city has a second CBD the size of Clayton, which certainly affects the downtown stats. Owner/occupied buildings such as AT&T, Purina and Wells Fargo are not tracked in these figures.
Source: CBRE
| City (CBD) | Vacancy | Inventory (square feet) | Average Asking Rent | Asking Rent Class A only | Total Absorption (SF) 2014 YTD | |
| Total | Class A | |||||
| St. Louis | 26.50% | 11.80% | 14,194,676 | $15.22 | $18.08 | 93,532 |
| Cincinnati | 20.30% | 12,925,157 | $20.79 | 98,266 | ||
| Dallas | 23.70% | 29,415,642 | $21.13 | 541,311 | ||
| Denver | 12.70% | 25,627,875 | $30.94 | 98,411 | ||
| Indianapolis | 19.10% | 17.10% | 11,944,526 | $18.22 | $19.51 | 24,448 |
| Kansas City | 22.40% | 22.50% | 14,911,631 | $16.71 | $18.45 | 108,980 |
| Minneapolis | 15.10% | 11.90% | 24,126,861 | $14.42 | $16.39 | 289,447 |
My boss wants to expand his business. He's looking to rent more office space, so that he can hire more employees. I'm trying to help him look for vacant office space in the city.
ReplyDeleteSusan Hirst | http://www.sourceoffice.com/virtual-office-space-in-arlington-washington-dc/