St. Louis, MO, Gateway to the West…Gateway to Business Growth

St. Louis, one of the oldest cities in Missouri, is often called the Gateway to the West.

Every year, over 20 million people visit St. Louis for leisure as well as conventions and business travel. Many of the visitor attractions, such as Forest Park and Missouri Botanical Garden, are ranked among the best and most-visited in the United States.

As the nation's 18th largest metropolitan areas, with 2.7 million people in eastern Missouri and southwestern Illinois, greater St. Louis offers a unique blend - featuring the big-city assets of a broadly talented work force, great cultural and educational institutions, and superb recreational opportunities. Yet St. Louis also provides the convenience, intimacy, and affordability of a smaller community. This extraordinary combination produces an enviable lifestyle and a competitive home for progressive companies.

The area’s central location is based on both its population and geography. Its businesses are within 500 miles of one-third of the U.S. population. St. Louis is at the confluence of the two greatest rivers in North America — the Mississippi and the Missouri — and a third key river, the Illinois. Located in the Central Time Zone, it also provides flexibility in dealing with both Coasts. And a “multi state” location provides more advantages and options in the areas of utilities and tax rate structures.

Helped by a growing economy and increasing employment rate, the commercial real estate market in St. Louis continues an upward trend that began in 2005. Demand for office space is highlighted by the rebirth of the city's downtown area. Office vacancy remains in the mid-teens, but a lack of large blocks of contiguous space is prompting large tenants to consider new construction. And conversion of general office space to medical use or condominiums and residential rental units has removed millions of square feet from the available inventory, which was already well below the demand. Recent growth in financial services, health services and professional and business services has fueled the demand for office space.

Even with the rising demand for Class A facilities in the best districts, the cost of commercial property in the central business district of the St. Louis region is still below the national average. Therefore, focusing on quality properties in prime locations proves a smart choice and great opportunity for businesses looking for office space in St. Louis.