The Louisville Office market was impacted by corporate workplace densificaiton and remote worker initiatives in the third quarter of 2019.
- Net absorption marketwide was negative 307,919 sq. ft.
- CBD posted negative net absorption of 201,063 sq. ft. and Suburban submarkets had 106,856 sq. ft. of negative net absorption.
- The marketwide leasing activity was 330,047 sq. ft., which was on par with recent quarters.
- Class A CBD average asking lease rate increased to $20.20 per sq. ft.
- Class A Suburban average asking lease rate decreased $0.05 per sq. ft. to $21.46 per sq. ft.
- Galen College of Nursing announced they will move to a new 132,000-sq.-ft. campus off of Old Henry Road in the East County submarket next year and construction is underway.