St. Louis' industrial market has seen improvements in quite a few categories in 2024 and the fourth quarter, according to a report from Colliers.
Most notably, leasing activity hit 1.96 million square feet, up by more than a million square feet from the previous three months. Also, it marked the highest quarterly activity since 3.42 million square feet of space was leased in 2021. The biggest deals involved Armstrong Logistics, and Circle K, which leased 487,521 square feet, and 211,269 square feet, respectively.
Net absorption in the full year turned positive to 1.99 million square feet compared with negative territory in 2023. Plus, the fourth quarter's +1.16 million was up significantly from just +210,000 square feet in the previous three months.
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