Kansas City Market Reports

Kansas City Industrial Market

     Average Asking Rent (Price/SF)$4.89
     Vacancy Rate (%)6.0%
     Net Absorption (SF)928,300    

The Kansas City industrial market continued to expand in the first quarter of 2018, as 928,300 square feet of net absorption was posted. Average quoted rents increased from $4.75/SF to $4.89/SF. A total of 2.2 million square feet of space was delivered to the market during the quarter, while projects under construction fell to 2.4 million square feet, the lowest level in nearly four years. With 1.7 million square feet of space coming to the market unoccupied, overall vacancy increased 40 basis points, from 5.6% in the prior quarter to 6.0%.

Download the 1Q 2018 Industrial Report

 

Kansas City Office Market

     Average Asking Rent (Price/SF)$19.74
     Vacancy Rate (%)9.9%
     Net Absorption (SF)94,366    

The Kansas City office market realized its 18th consecutive quarter of increased asking rental rates in the first quarter of 2018, while vacancy decreased 110 basis points over the past year, from 11.0% to 9.9%. Total net absorption in the first quarter measured 94,366 square feet, bringing the past four quarters’ total to 925,241 square feet. Current projects under construction remained flat at 137,985 square feet during the quarter, as no projects delivered to the market.

Download the 1Q 2018 Office Report

 

Kansas City Retail Market

     Average Asking Rent (Price/SF)$13.46
     Vacancy Rate (%)5.3%
     Net Absorption (SF)179,862    

The overall Kansas City retail market tightened year-over-year in the first quarter of 2018, realizing a 30-basis-point decrease in vacancy. Net absorption totaled 1.1 million square feet for the past four quarters and more than 3.9 million square feet for the past two years, indicating a sound market. The average quoted rental rate measured $13.46/SF, up $0.30/SF from one year ago.

Download the Spring 2018 Retail Report