According to recent national rankings by CBRE Research, both the Louisville Downtown and Suburban Office markets ranked in the Top 10 markets with the lowest asking rental rates in the nation.
Among the 50 Downtown markets tracked by CBRE Research, the Louisville Downtown Office market ranked third overall in terms of most affordable in the nation, while the Louisville Suburban Office market ranked 6th overall among the 58 suburban markets tracked by CBRE Research.
“This recent ranking by CBRE Research further solidifies Louisville’s competitive cost of doing business,” said Mayor Greg Fischer. “The city is experiencing more than $9 billion in investment right now, paired with our low unemployment rate and increase in average weekly wages, so now is the time to be doing business in Louisville.”
CBRE Research shows Louisville Downtown office markets average a cost of $16.71 per square foot, and the Suburban markets average a cost of $17.96 per square foot.
According to CBRE Research, Louisville markets offer more affordable office space than similar-sized peer-cities in the region. For example, Nashville has a $25.35 per square foot Downtown asking rate; Columbus has a $20.33 per square foot Downtown asking rate, and Cincinnati has an $18.28 per square foot Suburban asking rate. The Louisville Downtown Office market is the second-most affordable in the region after St. Louis, while the Louisville Suburban Office market was third most affordable after Cleveland and Detroit.
To view the latest CBRE Louisville Office MarketView report, visit http://cbreemail.com/rv/ff00a55667197643c90742244745810479290793