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Kansas City, MO

Apartment
The 128,137-unit Kansas City apartment market vacancy rate was 4.2% in the fourth quarter of 2016, unchanged over the quarter and up 30 over 12 months. The rate is 4.3% in January 2017. Asking and effective rents both rose 0.7% in the fourth quarter to $851 and $804 per month. These rates were up 4.9% over 12 months. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the Kansas City warehouse/distribution market is 10.6% in January 2017, according to Reis’s latest monthly data. The fourth quarter 2016 rate of 10.5% was down 40 basis points over the quarter and up 40 year-over-year. Reis reports fourth quarter average asking and effective rents of $3.35 psf and $3.10 psf for warehouse/distribution space, up 0.9% and 1.0% from the prior quarter. These rates are up 3.1% and 3.3% for the year. January 2017 data show 0.6% gains for both categories. For Flex/R&D space, Reis reports January 2017 vacancy at 16.3%, down 20 basis points from the fourth quarter. The fourth quarter rate was up 100 basis points over 12 months. Reis reports asking and effective rents of $6.99 psf and $6.15 psf, both unchanged over the quarter, and up 1.2% and 1.3% for the year. VIEW INDUSTRIAL LISTINGS >
Office
The 42.9-million-square-foot Kansas City general purpose, multi-tenant office market’s January 2017 vacancy rate was 16.4%, up from 16.1% in the fourth quarter of 2016. Vacancy has not dipped below the 15.0% mark since 2000, when the rate was 11.0%. The fourth quarter rate was down 90 basis points over 12 months. Reis reports average asking and effective rents of $20.29 psf and $15.81 psf in the fourth quarter, up 0.4% and 0.5% for the quarter, and up 1.8% and 1.9% for the year. Asking and effective rents changed little in January 2017. VIEW OFFICE LISTINGS >
Retail
Reis reports fourth quarter 2016 vacancy in Kansas City’s 26.1-million-square-foot community-neighborhood shopping center market at 10.5%, down 20 basis points from the prior quarter and up 20 over 12 months. The rate was 10.5% in January 2017. Community-neighborhood center asking and effective rents were $14.77 psf and $12.63 psf in the fourth quarter, up 0.6% each for the quarter alone and 1.4% and 1.6% during 2016. This is not a very strong market for retail rents. Rents were flat in January 2017. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

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