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Market ReportsMidwestMidwest Market ReportsMissouriOffice

St. Louis Office Market: Slow But Steady

by Kristin Harlow

By Tony Kennedy, Colliers | St. Louis  St. Louis is more than the Gateway Arch and the St. Louis Cardinals (although those are two pretty awesome things to have). With a robust and diversified economy, St. Louis continues to be a steady performer across all sectors predominantly in manufacturing, financial services, healthcare, biotech, energy and education.  St. Louis ranks as the 23rd-largest metro area in the U.S. with an unemployment rate of 4.1 percent versus the national average of 4.4 percent. St. Louis doesn’t have high highs or low lows; rather it is the tortoise and not the hare when it comes to economic growth. And when it comes to real estate, the St. Louis office market follows a similar path and continues to show steady trends across key indicators.  Overall, office vacancy continues to hover around 25 percent with some submarkets performing better than others.  The Clayton submarket remains the “darling” of the St. Louis region with virtually no large blocks of space available and robust demand outweighing supply. With a Class A vacancy rate of 14 percent (about half the region’s average), Clayton landlords continue to push rates upward. Clayton office lease rates are hovering in the low …

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AcquisitionsMidwestMissouriMultifamily

Northmarq Brokers Sale of 315-Unit Multifamily Community in Metro St. Louis

by Kristin Harlow

MARYLAND HEIGHTS, MO. — Northmarq has arranged the sale of Whisper Hollow Apartments, a 315-unit garden-style multifamily community located at 12430 Whisper Hollow Drive in Maryland Heights. Dominic Martinez, Parker Stewart, Alex Malzone and Charlie McKee of Northmarq represented the seller, Banner Real Estate Group. The buyer was Monarch Investment and Management Group.   Built in 1976 and renovated in 2018, Whisper Hollow sits on roughly 14.5 acres and features 13 three-story buildings. Floor plans include studio, one- and two-bedroom units. Apartments feature updated kitchens and bathrooms, stainless steel appliances, private entrances, hardwood-style floors, private patios or balconies, ceiling fans, energy-efficient doors and windows, and high-speed internet. Community amenities include a king-size pool with sundeck, fitness center and dry sauna, business center with coffee bar, clubhouse and game room, fenced-in park, surface parking, professional maintenance and office staff, tennis and pickleball courts, and a sand volleyball court. The property is adjacent to Quiet Hollow Park Fitness Court.

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DevelopmentMidwestMissouriOffice

Coil Construction Underway on 70,000 SF Headquarters Expansion for EquipmentShare in Columbia, Missouri

by Hayden Spiess

COLUMBIA, MO. — Coil Construction has broken ground on the expansion of the corporate headquarters for EquipmentShare.com Inc. (Nasdaq: EQPT), a construction technology and equipment rental company based in Columbia. The new 70,000-square-foot, two-story facility will provide space for up to 300 team members. Designed to foster collaboration and efficiency, the building will feature an executive business center, multi-purpose large meeting and event spaces, and a full-service corporate cafeteria. This expansion provides the physical room required to fulfill EquipmentShare’s previously announced commitment of bringing 500 new jobs to the region. Built with sustainability in mind, the facility is designed to accommodate photovoltaic solar panels and electric vehicle charging installations.  Upon completion of the facility, EquipmentShare’s main corporate campus will encompass three facilities totaling 170,000 square feet. The campus sits near the company’s original equipment rental branch and its central distribution center, which supplies parts, technology and consumables to customers and over 430 EquipmentShare locations nationwide. EquipmentShare maintains more than 15 rental, R&D and corporate facilities operating statewide. Construction of the new facility is expected to be completed in mid-2028, with a formal grand opening event to follow.

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DevelopmentMidwestMissouriMixed-UseMultifamily

LOCAL on Delmar Mixed-Use Community Opens in Suburban St. Louis

by Hayden Spiess

UNIVERSITY CITY, Mo. — National real estate developer Subtext has opened LOCAL on Delmar, a new mixed-use residential community in University City, located about eight miles west of downtown St. Louis.  Situated at the western edge of the Delmar Loop entertainment district and less than half a mile from Washington University in St. Louis, the development transforms a long-underutilized site into a mixed-use destination featuring apartments, resident-focused amenities, collaborative workspaces and retail.  The 398,225-square-foot development features 259 residences offered in studio, one-, two- and three-bedroom floor plans ranging from 398 to 1,090 square feet.  Amenities at LOCAL on Delmar include a rooftop pool with sun shelf and hot tub; poolside cabanas, fire pits and grilling stations; a wellness suite with sauna, meditation, and private fitness rooms; a 24-hour fitness center with group yoga and barre studio; outdoor training space with functional fitness equipment; and dedicated workspaces with private and group conference rooms.  Other special features of the property include a clubroom and game lounge; lobby lounge with coffee bar; reserved parking garage with electric vehicle charging; bike and scooter room with charging and repair stations; and roommate matching services with by-the-bed leasing options.  Residents are within an eight-minute walk of Washington …

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LoansMidwestMissouriRetail

CBL Properties Receives $135M Refinancing for Mall in St. Louis

by Hayden Spiess

ST. LOUIS — CBL Properties (NYSE: CBL) has received a $135 million refinancing of its mortgage loan for West County Center, a regional mall located in St. Louis.  The new loan, which replaces an existing $136.4 million loan that was scheduled to mature in December, carries a five-year term with a fixed interest rate of 7.4 percent.  After repayment of the maturing loan and the release of existing escrow balances, CBL received roughly $2 million in net proceeds from the new financing. The financing also removes the cash management sweep associated with the prior loan, which will result in an estimated $7 million in annual free cash flow for CBL going forward.  With the refinancing, CBL Properties has addressed its final near-term debt maturity, according to the company.  West County Center totals almost 1.2 million square feet. Anchor tenants at the property include Macy’s, Dick’s Sporting Goods and the only Nordstrom store in the state. In 2026, new leases have been executed with The Cheesecake Factory, Free People Movement, Levi’s, L’Occitane en Provence, POPMART, Miss A and Urban Outfitters, among other retailers.  CBL acquired its joint venture partner’s interest in the mall and two other retail properties in 2024 for …

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AcquisitionsMidwestMissouriRetail

Newmark Arranges $20M Sale of Liberty Corners Shopping Center in Metro Kansas City

by Kristin Harlow

LIBERTY, MO. — Newmark has arranged the $20 million sale of Liberty Corners, a grocery-anchored shopping center in the Kansas City suburb of Liberty. First Washington Realty acquired the 125,000-square-foot property from Brixmor Property Group. Conor Lalor, Keely Polczynski and Tim McKay of Newmark represented the seller. Colleague Brian Schneiderman also supported the assignment. Price Chopper, which occupies 56,000 square feet and has been a tenant at the property since 1986, recently committed approximately $6.5 million toward a remodel and extended its lease through 2037.

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DevelopmentHealthcareMidwestMissouri

Lawrence Group Designs Renovations for SSM Health St. Joseph Cancer Center in Metro St. Louis

by Kristin Harlow

LAKE SAINT LOUIS, MO. — Lawrence Group has completed its work on the renovation and expansion of SSM Health St. Joseph Hospital’s Cancer Center in Lake Saint Louis. Lawrence Group’s healthcare studio provided architecture and interior design services on the recent multi-million-dollar project aimed at increasing treatment capacity and improving the patient experience for individuals navigating cancer care. A ribbon cutting ceremony took place July 28. The expanded center features space for additional clinical staff and new exam rooms, plus semi-private infusion bays complete with floor-to-ceiling windows for patients to view the nearby lake while receiving treatment. The building’s pharmacy, laboratory and waiting areas were also expanded.

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DevelopmentMidwestMissouriMultifamily

KAI Build, Revive Capital to Transform Former 7UP Headquarters in Metro St. Louis into Apartments

by Kristin Harlow

CLAYTON, MO. — KAI Build is leading construction on the $55 million transformation of the former 7UP headquarters in downtown Clayton into a residential development with 118 apartment units. Located at 121 S. Meramec Ave. near Shaw Park, the 11-story building served as 7UP’s world headquarters from the mid-1960s through the late 1970s. After 7UP relocated to Dallas, St. Louis County purchased the property in 1988 to house its World Trade Center. The building later remained vacant for more than a decade. A group led by Kansas City-based Revive Capital Development headed by developer Michael Knight purchased the property in September 2026 with plans to transform it into a residential development named The Upton. Architect Chris Cedergreen is working in collaboration with Kent Wagster of HDA Architects on the project, which will feature a mix of luxury studio, one- and two-bedroom units. Amenities will include a fitness center, clubroom, heated outdoor spa, entertainment and theater spaces, billiards, multiple fireplaces, a dog wash, private resident speakeasy, game room, outdoor kitchens, fire pits and a private dog park. Octagon Finance is partnering on the project, providing a $48.3 million unitranche construction loan, including historic tax credits. A groundbreaking ceremony is scheduled for …

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IndustrialLeasing ActivityMidwestMissouri

Opus Completes Lease-Up of 1.6 MSF Liberty Heartland Logistics Center in Missouri

by Kristin Harlow

LIBERTY, MO. — Opus has completed the lease-up of Liberty Heartland Logistics Center in the Kansas City suburb of Liberty. Opus developed and built the three-building, 1.6 million-square-foot industrial park. Recent leasing activity includes Wagner Logistics, a third-party logistics provider that leased 317,000 square feet in Building B, and Dakota Bodies, a custom utility and service truck manufacturer that leased 173,000 square feet in Building C. Opus developed Liberty Heartland Logistics Center in two phases. The first phase included an 847,475-square-foot build-to-suit distribution center for Hallmark, which began operations in the facility in March 2023. The second phase added two speculative buildings totaling 812,000 square feet. TAB USA, an international manufacturer of industrial batteries, began leasing 66,700 square feet in Building C in April 2024. Animal Health International, a global distributor of animal health products, began leasing 255,000 square feet in Building B in April 2025. Liberty Heartland Logistics Center is a joint venture between Opus and Washington Capital Management. Opus was the developer, design-builder, architect and structural engineer of record on the shell buildings and handled the tenant improvement construction for TAB USA, Animal Health and Dakota Bodies. Michael VanBuskirk, Mark Long, John Hassler and Scott Bluhm of Newmark …

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Conference CoverageIndustrialKansasMarket ReportsMidwestMidwest Market ReportsMissouriMultifamilyRetail

InterFace Panelists Tout Kansas City Market’s Strengths, Highlight Ways to Contain Costs

by Kristin Harlow

For industrial developers and owners, Kansas City is an easy sales pitch right now.  “Two years ago, we had to scrounge around [for capital partners] trying to get phone calls returned. Now, they’re calling us saying they’re ready to see what we’ve got,” said Nick Cook, a development manager with Panattoni Development Co. “You’re always trying to sell a story to these folks. And Kansas City is a pretty easy one to sell right now. When it comes to speculative development, we’re feeling bullish.”  Cook’s remarks came during the developers, owners and investors panel at the InterFace Kansas City Industrial conference, which took place Tuesday, Aug. 18 at the Intercontinental Kansas City at the Plaza. Robert Ciston, a senior principal with BRR Architecture, moderated the discussion.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Fellow panelist Grant Harrison, executive vice president of development with VanTrust Real Estate, also expressed a bullish mindset on Kansas City and said he wants to get in front of the next wave of development. In contrast, there are some markets where Harrison does not …

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