The Louisville industrial market experienced a rebound in net absorption in the fourth quarter with 947,963 sq. ft., which was the highest quarter of net absorption for the year.
- The vacancy fell to 7.1% from 7.8% in the third quarter
- The average asking lease rate increased by $0.01 per sq. ft. to $3.58 PSF
- The availability rate fell 90 bps to 7.6%
- Under construction SF was just under 5.8 million sq. ft.
- Total net absorption for the year was 2,503,335 sq. ft., the fourth highest annual net absorption ever recorded.