Kansas City Industrial Figures Q1 2025

– Overall net absorption posted positive 3.1 million sq. ft. for Q1 2025, exceeding the 2.5 million sq. ft. total for all of 2024.

– Vacancy rates fell from 4.5% to 4.3% quarter-over-quarter due to positive net absorption. Looking longer-term vacancy rates increased from 4.1% to 4.3% year-over-year, and decreased from 5.1% to 4.3% over the previous three years.

– Five new buildings were delivered in Q1 2025, three build-to-suit projects totaling 1.3 million sq. ft., and two speculative projects totaling 1.1 million sq. ft. (61% pre-leased at completion).

– CBRE has updated the criteria for industrial tracked building sets to reflect buildings with a Net Rentable Area (NRA) of 30,000 square feet or higher. In addition to creating regional consistency, this change will enhance the reporting and depth of data on each market's most competitive buildings. Historical stats have been revised to reflect current industrial thresholds. Building inventories will be evaluated quarterly to ensure they remain the most comprehensive and accurate representation of each market.