The Louisville office market recorded strong positive net absorption in the second quarter of 2018, which is a welcome change from recent quarters.
- Marketwide net absorption was 136,513 sq. ft.
- CBD net absorption was (8,168) sq. ft. and Suburban net absorption was 144,681 sq. ft.
- Overall market vacancy decreased 70 bps to 12.6%.
- The marketwide leasing activity was 242,152 sq. ft., up slightly from first quarter.
- Class A CBD average asking lease rate remained unchanged at $19.61 per sq. ft.
- Class A Suburban average asking lease rate fell $0.30 per sq. ft. to $21.37 per sq. ft.