The summer months of 2020 were the most tumultuous in recent memory for Louisville and the downtown area has been the focal point. The pandemic continues to impair the functionality of the office market and has contributed to an uncertain future demand for office space.
- The overall market posted 104,773 sq. ft. of negative net absorption.
- The Central Business District (CBD) posted negative net absorption of 102,569 sq. ft.
- Suburban submarkets recorded 4,874 sq. ft. of negative net absorption.
- Marketwide leasing activity was up by 33% over second quarter at
341,924 sq. ft.
- Class A CBD average asking lease rate decreased $0.30 to $18.91 per sq. ft.
- Class A Suburban average asking lease rate increased $0.22 per sq. ft. to $22.12 per sq. ft.