BY THE NUMBERS
LOUISVILLE—Positive momentum in the Louisville industrial market has pushed asking lease rates to an all-time high, with first quarter rates ticking up $0.04 per square foot to $3.44, according to the latest CBRE industrial market view. Positive absorption hit 632,715 square feet in the first quarter, marking the eighth consecutive quarter of this trend. “Activity continues to be strong in Louisville and new product is helping to drive asking rents to historic highs,” says Tom Sims, senior vice president in CBRE's Louisville office. “As newer product comes on line, we should continue to see strong leasing trends in the class A market.” Despite the continued positive absorption, vacancy ticked up once again to 7.1%, up 70 bps from the previous quarter. This was mostly due to the completion of two speculative projects totaling 1.1 million square feet.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
