Markets · St. Louis, MO–IL MSA · Core Market
Saint Louis Industrial Market Report
Bluebird CRE Research · As of 2026 Q1 · Data: CoStar Group, www.costar.com
A central-U.S. multimodal hub with the nation's second-largest inland port and two Class I railroads. Tight small-bay fundamentals and rents below the cost to build new — core to Bluebird's footprint in the Earth City / Riverport corridor.
Asking Rent / SF
2016–2026Now $7.42 · +3.5% YoY
Vacancy Rate
2016–2026Now 5.4%
Net Absorption (12 mo)
2016–2026Now -2.9M SF
Annual figures through 2026 Q1. Source: CoStar Group, www.costar.com.
4061 Wedgeway Court · Earth City, MO · 43,426 SF
Market overview
As of 2026 Q1, Saint Louis industrial vacancy stands at 5.4% with asking rents near $7.42/SF. The market absorbed -2.9M SF over the trailing year, and investment sale pricing implies roughly a 8.8% cap rate. Those are the figures that frame how we underwrite here.
Bluebird's read
A central-U.S. multimodal hub with the nation's second-largest inland port and two Class I railroads. Tight small-bay fundamentals and rents below the cost to build new — core to Bluebird's footprint in the Earth City / Riverport corridor. Bluebird targets functional small-bay and IOS product here at a basis below replacement cost, with leasing and mark-to-market as the value-add levers.
Economy
- Population
- 2.8M
- Total employment
- 1.4M
- Industrial employment
- 193,886
- Median HH income
- $84,188
Key submarkets
- • Earth City / Riverport
- • Hazelwood / I-270
- • Edwardsville (Metro East)
- • Westport
Representative tenants
- • Boeing Defense
- • World Wide Technology
- • Amazon
- • GM (Wentzville)
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Market data sourced from CoStar Group, www.costar.com (as of 2026 Q1); figures are point-in-time estimates and forecasts are not guarantees. Provided for informational purposes only and not an offer to sell securities. Past performance does not guarantee future results.
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