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You can’t accuse Jay Holland of being a pessimist. The senior vice president with the St. Louis office of Cassidy Turley had little but good news to report from the Midwest city. Yes, the commercial real estate market in St. Louis is down. That’s not a surprise; it’s down everywhere. But, as Holland says, things could be much, much worse.

You can read Holland’s remarks here. To sum up, though, he points to St. Louis’ diverse economy, its low cost-of-living and its central location as some of the reasons that the city is faring reasonably well during this sluggish national economy.

According to Cassidy Turley’s numbers, the office vacancy rate in St. Louis stood at 12 percent at the beginning of 2010. That’s not nearly as bad as it is in many other markets. Credit the Midwest’s conservative nature for this; Holland says that there wasn’t much overbuilding in the city. This has kept vacancy levels relatively modest, at least in our post-recession world.

Tags | Cassidy Turley, Missouri, Office, St. Louis

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