Kansas City Office Figures Q4 2025

– Overall net absorption posted positive 264,409 sq. ft. for Q4 2025, marking the fifth consecutive quarter of positive net absorption. Positive net absorption came from both the suburban market (43,435 sq. ft.) and the downtown market (220,974 sq. ft.).
– Vacancy rates fell from 17.8% to 17.5% quarter-over-quarter in the overall market, a result of positive net absorption. Looking longer-term vacancy rates fell from 19.1% to 17.5% year-over-year. Vacancy rates have returned to the average from three years ago (Q4 2022) at 17.5%.
– No new multi-tenant space was delivered in Q4 2025, with no new projects currently under construction. Over the past three years 310,527 sq. ft. of new multi-tenant space was delivered from two buildings which were 94.5% occupied as of Q4 2025.
– Asking lease rates in the overall market increased 2.7% year-over-year ($22.85 per sq. ft. to $23.46 per sq. ft.). Over the previous three years the average asking lease rate increased 9.0% ($21.52 per sq. ft. to $23.46 per sq. ft.).