Unemployment rates showed promising improvement, following the sharp increases experienced in April 2020. The St. Louis unemployment rate (7.7%) remained between the State of Missouri (7.0%) and the U.S. rate of 8.4% as of August 2020.
Office product under construction at the end of Q3 2020 stood at 895,144 sq. ft.
Market-wide vacancy rose 90 bps during Q3 2020 to 12.5% on negative net absorption of 288,077 sq. ft.