NAI Isaac Releases Lexington, KY CRE 2016 Yearend Market Report
YEAREND 2016 The Lexington Kentucky commercial real estate market remained active during 2016 with notable vacancy decreases in Suburban and Central Business District (CBD) office sectors and vacancy increases in Retail and Industrial sectors. Suburban Office experienced the largest vacancy decrease with a decline of 23.4%, resulting in a vacancy rate of 10.51%. The CBD Office category experienced a 10% vacancy rate decrease, a positive indication for the downtown Lexington area. Leasing activity and market rental rates for all commercial sectors have remained steady throughout 2016. This report surveys Class A & B properties that are 10,000 square feet and larger. NAI Isaac compiled and analyzed data on approximately 528 commercial properties representing over 32 million square feet of office, retail and industrial premises. 2017 FORECAST Leasing activity should continue to increase in the first two quarters of 2017 w...