The industrial sector soared in 2021 as demand for space continues to increase in the St. Louis Market. The 12-month net absorption grew to approximately 7 million square feet which was a dramatic increase from 1.3 million boasted at the end of 2020. Vacancy rates continued to drop to 3.8% while the market lease rates increased to $6.73 PSF. Market sale prices increased to $64 PSF in Q4 and are expected to continue to rise in 2022.
Read the Intelica Industrial Insights to learn more.