Kansas City Metro Area – Mid-Year 2010
- Industrial Property - Vacancy Rate rises to 7.2%
- YTD negative absorption of 1.53 million SF
- Vacancy UP from 6.6% at mid-year 2009
- Only 59,200 SF under construction metro-wide
- Deal activity down 22% from 2nd half of ’09
- Availability jumps to 10.9%, it’s highest level in 5 years
- Office Property – Vacancy Rate holds at 13.0%
- YTD negative absorption of 79,000 SF
- Vacancy UP from 12.6% at mid-year 2009
- Only 71,126 SF under construction metro-wide
- Deal activity down 11% from 2nd half of ’09
- Availability jumps to 17.2%, it’s highest level in 5 years
Kansas City Metro Area – End-of-Year 2009
- Industrial Property – Vacancy Rate at 6.3%
- YTD negative absorption of 131,000 SF
- Vacancy UP from 5.7% at year-end 2008
- 1.4M SF of new construction delivered compared to 1.8 million SF in 2008. However, 1.1M SF is represented by the Coleman BTS in south Johnson County. Therefore 313,000 SF is a more accurate representation of new construction, far less than the 2.4M SF average over the previous 3 years.
- Deal activity down 35% compared to 2008
- Office Property – Vacancy Rate at 13.0%
- Vacancy UP from 12.8% at year end 2008
- Minimal positive absorption of 42,320 SF at year-end 2009
- 16 new buildings delivered compared to 37 in 2008
- Deal activity down 21% from 2008
Johnson County, KS
- Industrial Property – 54.6 million SF inventory
- 6.5% vacancy rate UP from 5.7% at year-end 2008
- Positive absorption of 834,000 SF YTD. However, true absorption was negative 266,000 SF.
- Deal activity down 36% compared to 2008
- Office Property – 37.7 million SF inventory
- 12.3% vacancy rate UP from 11% at year-end 2008
- Minimal positive absorption of 12,030 SF at year-end 2009
- Deal activity down 18% compared to 2008
Wyandotte County, KS
- Industrial Property – 43.1 million SF inventory
- 4.7% vacancy rate UP from 3.8% at year-end 2008
- Negative absorption of 479,000 SF at year-end
- Deal activity down 10% compared to 2008
- Office Property – 3.29 million SF inventory
- 7.5% vacancy rate DOWN from 7.9% at year-end 2008
- Positive absorption of 19,334 SF at year-end 2009
- Deal activity down 30% compared to 2008
Jackson County, MO
- Industrial Property – 107.6 million SF inventory
- 6.8% vacancy rate UP from 6.7% at year-end 2008
- Positive absorption of 179,000 SF YTD
- Deal activity down 11% compared to 2008
- Office Property – 52.1 million SF of inventory
- 14.4% vacancy rate UP from 13.9% at year-end 2008
- Negative absorption of 126,000 SF YTD
- Deal activity down 14.% compared to 2008
Platte County, MO
- Industrial Property – 7.6 million SF inventory
- 9.3% vacancy rate UP from 8.8% at year-end 2008
- Negative absorption of 51,000 SF YTD
- Deal activity down 8% compared to 2008
- No new construction delivered to the market in ’09
- Office Property – 3.15 million SF inventory
- 27.1% vacancy rate DOWN from 28.3% at year-end 2008
- Positive absorption of 61,083 SF YTD
- Deal activity down 41% compared to 2008
- No new construction delivered to the market in ’09
Clay County, MO
- Industrial Property – 36.8 million SF inventory
- 6.8% vacancy UP from 4.6% at year-end 2008
- Negative absorption of 610,000 SF YTD
- Deal activity down 46% compared to 2008
- No new construction delivered in ’08 or ’09
- Office Property – 5.6 million SF inventory
- 9.2% vacancy rate DOWN from 9.8% at year-end 2008
- Positive absorption of 72,119 SF YTD
- Deal activity down 20% compared to 2008
Kansas City Metro Area – End of 2nd Qtr. 2009
- Industrial Property – Vacancy Rate 6.4% and YTD negative absorption of 825,000 SF
- Vacancy UP from 5.5% in 3rd Qtr. 2008
- Negative absorption indicates that companies are vacating more space then they are taking on
- Under 100,000 SF of new construction delivered YTD compared to 1.8 million SF in 2008
- Office Property – End of 2nd Qtr. 2009 -Vacancy Rate 13.1% and YTD positive absorption of 201,000 SF
- Vacancy UP from 11.3% at the start of 2008
- Positive absorption is barely above “break even”
- 13 new buildings delivered compared to 38 in 2008
Johnson County, KS
- Industrial Property – 53.2 million SF inventory
- 6.2% vacancy rate UP from 5.0% in 3rd Qtr. ’08
- Negative absorption of 190,000 SF YTD
- Deal activity down 40% compared to YTD ’08
- Office Property – 38.0 million SF inventory
- 11.8% vacancy rate UP from 9.5% in 1st Qtr. ’08
- Positive absorption of 284,000 SF YTD
- Deal activity down 34% compared to YTD ’08
Wyandotte County, KS
- Industrial Property – 41.6 million SF of inventory
- 4.3% vacancy rate UP from 3.6% in 3rd Qtr. ’08
- Negative absorption of 184,000 SF YTD
- Deal activity down 45% compared to YTD ’08
- Office Property – 3.3 million SF of inventory
- 6.9% vacancy rate DOWN from 9.6% in mid-year ’08
- Positive absorption of 24,000 SF YTD
- Deal activity down 33% compared to YTD ’08
Jackson County, MO
- Industrial Property – 106.6 million SF of inventory
- 7.0% vacancy rate UP from 5.9% in mid-year ’08
- Positive absorption of 187,000 SF YTD
- Deal activity down 31% compared to YTD ’08
- Office Property – 50.9 million SF of inventory
- 14.0% vacancy rate UP from 13.2% in 1st Qtr. ’08
- Negative absorption of 155,000 SF YTD
- Deal activity down 21% compared to YTD ’08
Platte County, MO
- Industrial Property – 7.5 million SF of inventory
- 9.1% vacancy rate UP from 6.8% low in early ’08
- Negative absorption of 13,000 SF YTD
- Deal activity down 26% from YTD ’08
- Office Property – 3.2 million SF of inventory
- 27.1% vacancy rate DOWN from a high of 29.0% in mid-’08
- Positive absorption of 53,000 SF YTD
- Deal activity down 33% from YTD ’08
Clay County, MO
- Industrial Property – 36.5 million SF of inventory
- 6.5% vacancy UP from 4.7% at year-end 2008
- Negative absorption of 633,000 SF YTD
- Deal activity down 43% from YTD ’08
- Office Property – 5.6 million SF of inventory
- 10.0% UP from a low of 8.2% in mid-’08
- Positive absorption of 40,000 SF YTD
- Deal activity up 9% from YTD ’08
