Yokley’s Hair Salon and Three Rivers Aikido Martial Arts, in Maplewood, moved out recently after losing their leases; Tom Weiler of US Sierra, now represents the spaces.
Weiler said the rent on both spots are listed at $15 per square foot plus triple net (about $3), which he said is reasonable considering the demand for commercial real estate in Maplewood.
The former Aikido Martial Arts space is 3,600 square feet, he said.
See also: Former QT under lease negotiation, Restaurant planned for Big Bend corner
If there is such a high demand, why are there so many empty spaces?
Michelle: Over the past 10 years, the vacancy rate in downtown Maplewood has been less than or similar to other areas in St. Louis City and County. It is correct that there is strong interest in locating here among restaurants and specialty retailers. Witness all of the new businesses that have opened in just the past few years. Some buildings that are vacant now are for sale and it takes time for buyers to do their due diligence, arrange financing and close; sometimes deals fall apart for a variety of reasons and sellers have to move on to the next prospect. And some vacancies you may see that are for lease are actually under negotiation and will be occupied in the near future. Suffice it to say that there is almost always active interest when retail spaces become available on Manchester and Sutton.
So monthly rent is over 60K?
That is annual, so a little over $5k/month
that makes more sense. Thanks!