St. Louis is coming off one of the strongest years its industrial real estate market has ever experienced, and many in the industry are equally bullish about 2018. It’s “the greatest industrial market ever,” Ed Lampitt, who specializes in industrial real estate for Cushman and Wakefield, told the crowd last month at an annual industry gathering.
Thanks to e-commerce stimulating demand for space, the economy exhibiting strong fundamentals and plenty of land remaining undeveloped, industry observers don’t expect the market to cool down soon.
Lampitt estimates the St. Louis area absorbed 5.4 million square feet of industrial space last year and more than 2 million square feet per year since 2014.
In the St. Louis market, there are about 2 million square feet of industrial real estate under construction and plans to develop another 3 million square feet.
Read more: St. Louis Post-Dispatch