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NAI Isaac Releases Lexington, KY CRE 2017 Mid-Year Market Report

This post originally appeared on NAI Isaac's Blog and is republished with permission. Find out how to syndicate your content with theBrokerList.

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The Lexington commercial real estate market was mostly positive during the 1st and 2nd quarters of 2017 with an impressive vacancy decrease in the Industrial market which already had a low vacancy rate at yearend 2016.  Low Industrial vacancy is a nationwide trend that is likely tied to the growth of internet shopping and the need for more warehouses closer to various customer markets for companies selling products. There was a smaller decrease in vacancy within the Retail sector that also had a low vacancy rate at yearend 2016. Fluctuations within Suburban Office and CBD Office sectors demand and higher vacancy rates despite the lack of speculative construction continue to indicate those sectors are still “right-sizing” with companies moving to more open floor plans with less square footage per employee. Further impacting the office market is an increase in office tenants seeking non-traditional office space, particularly in the tech and marketing segment.
 
Market rental rates for all commercial sectors have remained stable over the past 6 months and are expected to remain stable through yearend 2017 with the likelihood of Industrial rent increasing and the possibility of Retail rent increasing.  
-Al Isaac, President
View the Market Report Here
Oct 1, 2017NAI Isaac
1 year ago CRE Market ReportsLexington Commercial Real Estate Completed Transactions, Lexington Kentucky, Lexington Kentucky Commercial Real Estate Sold, NAI Isaac149
NAI Isaac

NAI Isaac Commercial Properties is a Lexington, Kentucky-based firm specializing in the leasing, sale and management of commercial real estate in the Commonwealth of Kentucky with over 8,000,000 square feet of retail, office and industrial properties exclusively listed. NAI Isaac features a staff of experienced professionals specializing in the property management, leasing, acquisition or disposition of office, retail, and industrial properties, as well as development and investment opportunities.

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