MR_PLS_17Q1_IND_175x227 Record Low Vacancy and Rising Rents — The Beat Goes On...

For existing property owners in the Tri-Valley industrial market, record low vacancy and record high rents and sales prices are the continuing story. At the end of the first quarter of 2017, the entire Tri-Valley industrial market had a total of only 206,106 square feet of available light industrial or warehouse space left for lease or sale. During the first quarter, the Tri-Valley absorbed a net 96,455 square feet of light industrial and warehouse space. Vacancy rates in the Tri-Valley industrial market are now down to a record 1.1 percent, which is less than half of where they stood last year at this time. With overall industrial vacancy at a record low, and as industrial pricing continues to push higher, there is continuing talk of even more speculative development than what we referred to just last quarter.;