New Report Deems STL Region an Attractive Industrial Market
Date Posted: September 19, 2023
Posted In: News,
From FOX: For businesses looking to establish or expand their footprint in the Midwest, the St. Louis region might be an intriguing location for opportunity.
REBusiness Online, a commercial real estate news network, highlights St. Louis in a new report and deems it an “attractive” industrial market for national and regional developers.
The report comes in coordination with Bi-State Development and cites research from the most recent “St. Louis Regional Industrial Real Estate Market Indicators & Workforce” findings released in May.
Research finds that the St. Louis metro, between Missouri and Illinois, has around 182 million square feet of space available for development. The average rent rate is around $5 per square foot, one of the lowest among Midwestern regions of similar size.
Interstate 70 also presents a wealth of opportunity for many businesses with links to Interstates 170, 270 and 370. The report estimates that nearly 90 percent of all industrial construction in the bi-state region over the last five years has happened along the I-70 corridor. That includes some major expansion plans in the works for Boeing, one of the region’s top employers.