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Kansas City industrial market one of the most active in 2020

The metro’s industrial sector ended strong in 2020 with 1.2 million square feet of total net absorption during Q4. Over the year, net absorption totaled 5.9 million square feet, rising 16.3 percent over the average for the market during the past five years and one of the most active markets in the U.S.

The Kansas City industrial sector ended the year displaying strong market fundamentals with 1.2 million square feet of total net absorption during the quarter.

Net absorption in 2020 totaled 5.9 million square feet, a 16.3% increase over the average for the market during the past five years and one of the most active industrial markets in the U.S. in 2020.

Offerings quoted on a triple net basis are generally modern Class A and Class B+ properties, and rents have pressed upward as demand in this sector continues to increase.

However, as larger structures continue to deliver to the market, the per-square-foot rate was pressed downward. The average asking rental rate decreased by $0.05/SF to $4.56/SF during the quarter.