1st Quarter 2026 Jefferson County
In the first quarter of 2026, Jefferson County’s commercial real estate market showed improving conditions across several major property sectors. Multi-family and industrial vacancy declined, while retail and office lease rates increased. NavPoint Real Estate Group’s latest market update reflects a generally stable market with pockets of strengthening demand and improving occupancy.
Multi-Family Market:
The multi-family sector reported an average lease rate of $2.17 per square foot and a vacancy rate of 8.5%. Lease rates increased from $2.12 per square foot in the fourth quarter, while vacancy declined from 9.1%, reflecting improved occupancy and stronger rental market conditions.
Retail Market:
Retail space posted an average lease rate of $24.57 per square foot and a vacancy rate of 5.05%. Lease rates increased from $24.10 per square foot in the previous quarter, while vacancy declined from 5.3%, indicating modestly strengthening fundamentals across the Jefferson County retail market.
Office Market:
Office properties recorded an average lease rate of $26.35 per square foot, up from $25.99 in the fourth quarter, while vacancy increased from 10.9% to 11.7%. The combination of higher lease rates and increased availability reflects mixed conditions, with pricing remaining resilient despite additional space entering the market.
Industrial Market:
The industrial sector reported an average lease rate of $13.83 per square foot and a vacancy rate of 5.9%. Lease rates increased slightly from $13.70 per square foot in the previous quarter, while vacancy declined from 6.9%, suggesting improved absorption and continued demand for industrial and flex space.
Overall, Jefferson County began 2026 with encouraging signs across much of its commercial real estate market. Multi-family, retail and industrial all experienced improved occupancy, while lease rates increased across each major property sector. Although office vacancy moved higher, overall market conditions remain relatively stable as Jefferson County continues into 2026.
Read more at: https://navpointre.com
