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Regional Summaries

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Kansas City, MO

Apartment
The 124,918-unit Kansas City apartment market vacancy rate was 4.7% in the fourth quarter of 2015, up 30 basis points over the quarter and over 12 months. The rate was 4.5% in January. Average asking and effective rents posted a fourth quarter gain of 0.6% for rates of $805 and $761 per month. These rates are up 3.4% and 3.5%, respectively, over 12 months. Monthly data from Reis show asking and effective gains of 0.2% in January. VIEW APARTMENT LISTINGS >
Industrial
The Kansas City warehouse/distribution market posted a fourth quarter 2015 vacancy rate of 10.0%, according to Reis’s data, down 40 basis points over the quarter and down 60 year-over-year. The rate was 10.6% in January. Reis reports average asking and effective rents of $3.25 psf and $3.00 psf for warehouse/distribution space, up 1.2% and 1.0% from the prior quarter. These rates were up 3.2% and 3.4% over 12 months. Asking and effective rents rose 0.3% and 0.7% in January. For Flex/R&D space, Reis reports fourth quarter 2015 vacancy at 15.5%, down 40 basis points from the prior quarter and down 70 over 12 months. The rate was 15.4% in January. Reis reports asking and effective rents of $6.91 psf and $6.07 psf, up 0.4% and 0.5% over the quarter, and up 1.3% and 1.5% for the year. January saw gains of 0.1% asking and 0.2% effective. VIEW INDUSTRIAL LISTINGS >
Office
The 43.2-million-square-foot Kansas City general purpose, multi-tenant office market posted a January 2016 vacancy rate of 17.1%, up from the fourth quarter of 2015’s rate of 17.0%. Reis reports average asking and effective rents of $19.93 psf and $15.51 psf in the fourth quarter, up 0.4% for the quarter, and up 1.7% and 1.8% for the year. Rents rose 0.1% by both measures in January. VIEW OFFICE LISTINGS >
Retail
Reis reports fourth quarter 2015 vacancy in Kansas City’s community-neighborhood shopping center market at 10.6%, down 10 basis points from the prior quarter and down 110 over 12 months. The rate was 10.7% in January. Community-neighborhood center asking and effective rents were $14.55 psf and $12.43 psf in the fourth quarter, up 0.1% and 0.2% for the quarter, and 2.8% and 2.9% for the year. Asking and effective rents were up 0.1% in January. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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