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Kansas City's Industrial market ended the fourth quarter with a vacancy rate of 6.1% compared to a national vacancy rate of 5.4%. The vacancy rate was up over the previous quarter, with net absorption totaling positive 1,532,681 square feet during the quarter. The average quoted asking rental rate for available Industrial space was $4.48 per square foot per year at the end of the fourth quarter 2016 in the Kansas City market area. This represented a 0.9% increase in quoted rental rates from the end of the third quarter 2016, when rents were reported at $4.44 per square foot. The average quoted rate within the Flex sector was $9.22 per square foot at the end of the fourth quarter 2016, while Warehouse rates stood at $4.27.