St. Louis Retail Market Report
2023 Investment Forecast
Minimal Change in Availability Justifies Long-Term Investment
as Market Grapples with Economic Headwinds
Universities and Major League Soccer benefit the CBD. Since 2019, St. Louis has seen only a mild change in overall retail vacancy as deliveries have been sparse. This year, availability will again remain relatively constant, inching up just 10 basis points to a rate on par with the metro’s long-term average. Amid a hiring slowdown, vendors may pull back on committing to retail space in 2023, waiting for more definitive economic conditions. At the same time, several large move-ins are expected to materialize. The two largest leases signed last year, whose terms begin in 2023, emphasize consumer demand for experiential retail. In St. Charles County, pickleball sporting company Chicken N Pickle will set up operations at a 102,000-square-foot space. Meanwhile in the CBD, Topgolf will occupy 95,000 square feet near Saint Louis University’s main campus. Retailers are also targeting space in the urban core, with St. Louis City SC’s inaugural season expected to heighten consumer demand for dining and drinking options proximate to the new downtown stadium. Access to major universities will further fuel retailer interest in the area, holding availability below the metrowide average this year.