Kansas City Market Reports

Kansas City Industrial Market

     Average Asking Rent (Price/SF)$4.82
     Vacancy Rate (%)5.7%
     Net Absorption (SF)769,450    

The Kansas City industrial market continued to tighten in the second quarter of 2018, as 769,450 square feet of net absorption was posted. Average quoted rents decreased slightly, from $4.88/SF to $4.82/SF. A total of 330,122 square feet of space was delivered to the market during the quarter, while projects under construction fell to 3.2 million square feet, the lowest level in three years. Overall vacancy decreased 10 basis points, from 5.8% in the prior quarter to 5.7%.

Download the 2Q 2018 Industrial Report

Kansas City Office Market

     Average Asking Rent (Price/SF)$20.03
     Vacancy Rate (%)9.4%
     Net Absorption (SF)565,256    

The Kansas City office market realized its 19th consecutive quarter of increased asking rental rates in the second quarter of 2018, while vacancy decreased 80 basis points over the past year, from 10.2% to 9.4%. Total net absorption in the second quarter measured 565,256 square feet, bringing the past four quarters’ total to 692,889 square feet. Current projects under construction remained nonexistent with no projects delivering to the market during the quarter.

Download the 2Q 2018 Office Report

Kansas City Retail Market

     Average Asking Rent (Price/SF)$13.57
     Vacancy Rate (%)5.7%
     Net Absorption (SF)-438,709    

The overall Kansas City retail market loosened year-over-year in the second quarter of 2018, realizing a 20-basis-point increase in vacancy. Net absorption totaled 321,383 square feet for the past four quarters and more than 2.9 million square feet for the past two years, indicating a sound market. The average quoted rental rate measured $13.57/SF, up $0.42/SF from one year ago.

Download the Summer 2018 Retail Report