A Significant Decline in Vacancy
The industrial market in Solano and Napa counties experienced a significant decline in vacancy in the third quarter of 2017. The vacancy rate dropped from 7.3 percent to 5.2 percent in the quarter, which represents the largest one quarter decline in at least a decade. Net absorption for the quarter was positive 1,315,037 square feet. Average asking rates remained flat at $0.52 per square foot per month Triple Net (NNN) in the quarter.