ST. LOUIS—As reported yesterday in GlobeSt.com, in the firstquarter the industrial market in the St. Louis metropolitan arearecorded 1,795,283-square-feet of positive absorption. “That ismore than in all of 2013,” Ed Lampitt, vicepresident and principal of Cassidy Turley in St.Louis, tells GlobeSt.com. “And 2013 was an awfully good year.”
“We haven't had that kind of absorption since 2004,” addsAlex Cain, a financial analyst in the St. Louisoffice.
Lampitt attributes that huge number in part to the increasingactivity in modern bulk distribution buildings. Online sales andthe strengthening economy have increased demand for all kinds ofconsumer products and distributors across the I-70 corridor, whichstretches from the Metro East area in Illinois to the North Countyand St. Charles County submarkets, have responded by taking morespace.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
