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In the year ahead, opportunities for developers and landlords will lie in a few choice markets. St. Charles County is a prime location due to its growing population, skilled labor force, less expensive land and convenient interstate access. It does not have a large amount of multi-tenant office space, presenting a good opportunity for the right development. Clayton, one of St. Louis ’ tony locations, is a tight submarket — especially for Class A buildings — and is a strong candidate for potential development.
While the number of large tenants looking for space are few and far between, there are companies that recently took large blocks of space off the market. These include the 80,000 square feet Nexstar subleased from McCleod USA in St. Charles, the 60,267 square feet Express Scripts leased at Riverport Tower in Earth City, the 66,540 square feet Scottrade, Inc. subleased from Amdocs at Corporate Hill IV, and the 66,093 square feet MHP leased at Corporate Plaza in the Highway 40/Chesterfield submarket. All of these companies expanded into more space than previously occupied.