KC’s Industrial Vacancy Stays Low

The industrial commercial real estate sector was still on track during the first quarter, according to a recent CBRE report. 

Vacancy rates were at 4.6 percent, the same as they were during the previous quarter, says the commercial real estate services firm.

The first quarter ended with just over 953,000 square feet of positive leasing absorption. Meanwhile, there is six million feet of product under construction.

Despite the challenges posed by COVID-19, the industry is seeing growth with a new 272,000-square-foot Burns & McDonnell facility, as well as a FedEx lease totaling nearly 550,000 square feet at the Northland Park Development.