Kansas City Retail Market Report

Moderate rebound ahead, although some submarkets may lag. After a year of negative net absorption in 2025, Kansas City is positioned for a gradual recovery in 2026. North of the River was resilient last year, combining a single-tenant 3.1 percent vacancy rate with 9.3 percent rent growth and strategic access via Interstates 35 and 435. The new 16,000-capacity Morton Amphitheater, set to open in 2026, should increase event-driven traffic in the area and tenant demand for nearby pad sites. Multi-tenant performance is mixed, with South Johnson County posting negative net absorption last year; however, a strong employment base points to a modest recovery ahead. Although Midtown experienced a sharp rise in vacancy last year, the recent KC Streetcar’s connectivity to the University of Missouri-Kansas City, employment centers, and entertainment districts positions the corridor for renewed demand in 2026.