Kansas City Office Figures Q3 2026

Overall net absorption posted negative 185,000 sq. ft. for Q3 2026, marking the first negative net absorption quarter in the last two years. Year-to-date net absorption remained positive at 131,000 sq. ft. with vacancy decreasing 10 basis points (bps) year-over-year, finishing at 17.5% for Q3 2026. Despite this moderation in demand, asking rents continued to edge higher, reaching $23.76 per sq. ft. (1.1% increase year-over-year).

Strong market activity has fueled momentum in the market with tenants signing3.44 million sq. ft. in 2024 and 3.89 million sq. ft. in 2025. Recently a trend of declining leasing activity has been apparent in the market with 0.86 million sq. ft. in Q1 2026, followed by 0.58 million sq. ft. and 0.50 million sq. ft. in Q2 2026 and Q3 2026. Year-to-date leasing activity totaled 1.94 million sq. ft. significantly trailing the 3.04 million sq. ft. total from the same time-period in 2025.

There have been no new multi-tenant office building deliveries since CityPlace Corporate Centre IV (190,000 sq. ft.) in Q3 2023. As of Q3 2026 there were no new multi-tenant office buildings under construction.