Kansas City Office Figures Q3 2025

– Overall net absorption posted positive 274,075 sq. ft. for Q3 2025, marking the fourth consecutive quarter of positive net absorption. Positive net absorption came from both the suburban market (111,423 sq. ft.) and the downtown market (162,652 sq. ft.).
– Vacancy rates fell from 18.3% to 17.8% quarter-over-quarter in the overall market, a result of positive net absorption. Looking longer-term vacancy rates fell from 19.2% to 17.8% year-over-year. Over the previous three years vacancy rates increased slightly from 17.7% to 17.8%.
– No new multi-tenant space was delivered in Q3 2025, with no new projects currently under construction. Over the past three years 480,517 sq. ft. of new multi-tenant space was delivered from four buildings which were 83.5% occupied as of Q3 2025.
– Asking lease rates in the overall market increased 2.3% year-over-year ($22.86 per sq. ft. to $23.39 per sq. ft.). Over the previous three years the average asking lease rate increased 11.1% ($21.05 per sq. ft. to $23.39 per sq. ft.).