Commercial Lease Rates Remain Steady

KANSAS CITY, MO-Commercial real estate lease rates throughout the six Kansas Citysubmarkets remained steady in the first half of the year, according to areport released by the the research offices at Grubb & Ellis/The WinburyGroup.

Most Class A spaces were renting in the low to mid $20′s per sf, the exception being the newly opened Valencia Place on theCountry Club Plaza, where rental rates are $28 per sf, thehighest figure ever in the metro market.Class B office space was generally quoted in the high teens and low$20′s.

Sales activity during the same period was a bit slower. According to thestudy, with the exception of a few select buildings in UnitedInvestors Park in northern Johnson County, the Quivira Business Park inLenexa and the new Department of Transportation building in Downtown, nosignificant sales occurred in the first six months 2000.