Between new investment, restoration of an iconic building, and improvements coming to existing infrastructure, it’s been a good two weeks for Downtown St. Louis.
Momentum continues to grow in Downtown St. Louis, according to Cushman & Wakefield, which recently released statistics for the second quarter of 2026. The metro office market has recorded more than 420,000 square feet of lease renewals so far in 2026, with nearly half — precisely 48.1% — in Downtown St. Louis, according to Cushman & Wakefield’s St. Louis team.
“Downtown St. Louis is seeing strong renewal activity because perceptions are improving alongside real gains in public safety,” says John Warren, Senior Director at Cushman & Wakefield. “More people are back on the streets, tourism and visitation continue to drive activity, and landlords are offering highly competitive economics to retain existing tenants. At the same time, new restaurants, building renovations, upgraded amenities, and significant private investment are making the Downtown office experience better. For many companies, renewing in place is becoming a more compelling option than the cost and disruption of relocating. For a number of years, Covid and the crime that occurred during it was challenging for downtowns across the country, but we are hopefully going through a renaissance again.”
The report highlighted five key facts from Cushman & Wakefield’s second quarter statistics:
1. New Leasing Demand Increases
St. Louis closed the second quarter of 2026 with more than 985,000 square feet of new leasing deals signed year to date. This is the highest amount of first-half new leasing since 2020. Just under 650,000 square feet of this new activity was signed in Clayton and West County.
2. Vacancy Shifts Following Strong Class A Demand
While overall vacancy across St. Louis remains elevated at 18.4% in the second quarter of the year, the market is experiencing a shift in occupied space. Class A has recorded a 50 basis points decline in vacancy year over year, dropping to 18.6% from April to June. Class B has recorded a 280 basis points increase year over year, rising to 18.1%.
3. Absorption Slows in the Second Quarter
The market closed Q2 with a quarterly absorption total of -34,115 square feet. With 26,794 square feet of overall absorption in Q1, the market’s year-to-date absorption total sits at -7,321 square feet.
4. Renewals are Focused in Downtown St. Louis and West County
The metro office market has recorded over 420,000 square feet of renewal activity year to date. Downtown St. Louis accounted for 48.1% of this activity, while West County accounted for 33.3%.
5. Overall Asking Rents Decline Year over Year, but Class A Rises
The St. Louis office sector closed the second quarter of 2026 with overall average gross asking rents of $21.92 per square foot. This marks no change quarter over quarter, but a $0.31 per square foot decrease year over year. Class A asking rents rose by $0.37 per square foot year over year to $23.93 per square foot in Q2, while Class B asking rents reported a year over year decline of $0.93 per square foot, closing the quarter at $18.18.
To learn more about Cushman & Wakefield’s St. Louis offices, visit its website.
Photo by Brad Henderson