ST. LOUIS—The metropolitan area of St. Louis has suffered a great deal from the economic crisis. But recently, some bright spots have appeared, including a decline in vacancies among modern bulk buildings. And now, St. Louis-based TriStar Properties has begun development on the first speculative industrial building to be constructed in the St. Louis metro area since 2007.

“As of the end of the third quarter, there were less than a dozen modern bulk buildings with more than 100,000-square-feet of contiguous, vacant space available on the market,” says Terrence Madlinger, research analyst for Cassidy Turley’s St. Louis office. “This is impressive considering that just 18 months ago there were more than 25 of these spaces available.”

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