NAI Isaac is a Lexington, Kentucky based full service commercial real estate company specializing in brokerage, investment, leasing and management, consulting, research and development services in the U.S. and worldwide through NAI Global. NAI Global is an international commercial real estate network with over 400 offices spanning the globe.
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.
Leasing activity should continue to increase in the first two quarters of
2017 with positive…