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 |