ST. LOUIS—As reported yesterday in GlobeSt.com, in the first quarter the industrial market in the St. Louis metropolitan area recorded 1,795,283-square-feet of positive absorption. “That is more than in all of 2013,” Ed Lampitt, vice president and principal of Cassidy Turley in St. Louis, tells GlobeSt.com. “And 2013 was an awfully good year.”
“We haven't had that kind of absorption since 2004,” adds Alex Cain, a financial analyst in the St. Louis office.
Lampitt attributes that huge number in part to the increasing activity in modern bulk distribution buildings. Online sales and the strengthening economy have increased demand for all kinds of consumer products and distributors across the I-70 corridor, which stretches from the Metro East area in Illinois to the North County and St. Charles County submarkets, have responded by taking more space.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
