Markets · Kansas City, MO–KS MSA

Kansas City Industrial Market Report

Bluebird CRE Research · As of 2026 Q1 · Data: CoStar Group, www.costar.com

A central-U.S. rail and logistics crossroads anchored by the BNSF intermodal facility at Logistics Park KC.

5.8%
Vacancy
$7.37/SF
Asking Rent
$7.00/SF
NNN Rent
7.6M SF
Net Absorption (12 mo)
6.0M SF
Under Construction
9.5%
Market Cap Rate

Asking Rent / SF

2016–2026

Now $7.37 · +2.5% YoY

Vacancy Rate

2016–2026

Now 5.8%

Net Absorption (12 mo)

2016–2026

Now 7.6M SF

Annual figures through 2026 Q1. Source: CoStar Group, www.costar.com.

Market overview

As of 2026 Q1, Kansas City industrial vacancy stands at 5.8% with asking rents near $7.37/SF. The market absorbed 7.6M SF over the trailing year, and investment sale pricing implies roughly a 9.5% cap rate. Those are the figures that frame how we underwrite here.

Bluebird's read

A central-U.S. rail and logistics crossroads anchored by the BNSF intermodal facility at Logistics Park KC. Bluebird targets functional small-bay and IOS product here at a basis below replacement cost, with leasing and mark-to-market as the value-add levers.

Economy

Population
2.3M
Total employment
1.1M
Industrial employment
153,988
Median HH income
$87,500

Key submarkets

  • • Logistics Park KC (Edgerton)
  • • Airport / Northland
  • • I-35 Corridor
  • • Lenexa / Olathe

Representative tenants

  • • Amazon
  • • BNSF (intermodal)
  • • Hostess
  • • Cerner

Explore other markets

Saint Louis, MO
5.4% vacancy · $7.42/SF
Columbus, OH
6.5% vacancy · $8.41/SF
Indianapolis, IN
7.6% vacancy · $7.71/SF

Market data sourced from CoStar Group, www.costar.com (as of 2026 Q1); figures are point-in-time estimates and forecasts are not guarantees. Provided for informational purposes only and not an offer to sell securities. Past performance does not guarantee future results.

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