The St. Louis industrial market continues to gain ground on the journey back from the recession. For the second year in a row, positive absorption was recorded in the first quarter and the overall vacancy rate has dropped by over one percentage point to 8.5%. The overall economy seems to be rebounding as well. The St. Louis unemployment rate dropped to 7.6% in March. This is more than half a percentage point lower than a year before and almost 3 percentage points lower than the peak unemployment rate of 10.4% set in December of 2009.
Source : Cushman & Wakefield