Figures

Louisville Office Figures Q1 2026

Another Quarter of Positive Absorption and Strong Leasing Activity

April 9, 2026 5 Minute Read

Louisville Downtown-27

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The Louisville office market continued its momentum from the fourth quarter, posting positive net absorption of 229,622 sq. ft. The marketwide vacancy rate decreased 50 basis points (bps) to 22.8%. The amount of available sublease space in the market decreased by 34% in the quarter to just over 154,000 sq. ft., which is 40% lower than one year ago. Leasing activity was strong with 303,836 sq. ft. posted, two-thirds of which occurred in the Suburban submarkets. The overall average asking lease rate added $0.34 per sq. ft. to record $19.28 per sq. ft. for the quarter. This is the highest overall asking rate ever recorded in the market.