Business market research shows a trend in companies moving away from big East Coast and West Coast commercial real estate markets to settle down in the Midwest, St. Louis imparticular. So, what’s drawing them here?
Lower Rent For Premium Spaces
St. Louis offers considerably more affordable rent prices for corporate real estate. Tenants have their choice of premium spaces throughout St. Louis. Businesses are weighing the costs and realizing they can set up shop for considerably less in the Midwest, while average real estate prices almost quadruple in cities, such as San Francisco or New York.
Low Cost of Living. Lots of Big City Fun.
The lower cost of living (compared to coastal cities) makes St. Louis an attractive location. Of course, that’s without having to sacrifice city culture and quality of life. There has been considerable investments in entertainment and institutions, including the Peabody Opera House, Ballpark Village and City Museum. St. Louis is famous for passionate fans, crazy about our professional sports team, and also recognized as a “culinary powerhouse” for foodies everywhere.
Startups Get Off on the Right Foot
The number one reason startups fail is because they run out of capital, but in St. Louis rent and resources are more affordable. Startups can make their investors’ dollars stretch further in a Midwest mecca for tech and innovation.
Workplaces Are More Nimble
Technology has made it far easier for people to work remote, and many companies don’t need to be tied down to a specific location. St. Louis is central, so you can plant your feet on the ground and then hire locally or keep some of your workforce remote. For clients anywhere in the U.S., it’s an easy (and affordable) trip.
Contact us about a customer location analysis and the benefits of moving your business to the heart of the Midwest.