The St. Louis office market continued to experience pandemic-related challenges in Q4 2021 as a new COVID variant, Omicron, spread rampantly across the United States. Once again, many back to office plans were pushed back to the 1st quarter of 2022. The 12-month net absorption rates dipped slightly to a total absorption of negative 901,216 to round out another unprecedented year. Vacancy rates remained steady at around 8.7% as companies and tenants remain cautious about their back-to-work plans due to Omicron.
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