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Showing posts from September 3, 2017

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

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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 rat…

Why You Should Invest in Industrial and Retail Space in Lexington, KY

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Known for basketball, horses, and rolling fields of bluegrass, Lexington, Kentucky is a historic city with a rich and diverse history. Let NAI Isaac show you a few highlights of this spectacular city that will help you understand why you should invest in industrial and retail space in Lexington, KY.

Heart of the Bluegrass

Founded in 1775, 17 years before Kentucky was even a state, Lexington was originally Finecastle County, Virginia. After the victory in the battles of Lexington and Concord, the area was renamed Lexington. Located in Fayette County, Lexington is the second largest city in Kentucky and the 60th largest city in the US. With a population of just under 318,500 people, this city is bustling with activity. Consisting of 285.5 square miles of land, the population density is around 1,000 people per square mile. Because Lexington is also considered part of the Lexington-Fayette Metropolitan Area, which includes Bourbon, Clark, Fayette, Jessamine, Scott, and Woodford county, t…

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

Image
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 ra…