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Market Report

Louisville Office Market Report

2Q 2022

Positive Outlook Brightens Further as Availability
Marches Toward Pre-Pandemic Levels

Nationally strong fundamentals highlight metro's resilience. Louisville's office sector is emerging from the pandemic in a better position than many other U.S. metros. Office vacancy here is the lowest of any major American market, and Louisville is the only major metro that has maintained sub-10 percent vacancy throughout the health crisis. Additionally, the market was able to grow its traditionally office-using workforce during the omicron variant surge. Firms expanding payrolls locally have sparked several notable leases, including commitments from Kroger and Consumer Cellular. These factors, along with scant development, suggest the metro will remain a leader in office performance nationally, as availability retreats throughout this year.
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