2017 Q4 Tri-Valley Commercial Office Market Research Report Image

Sleepy Close To 2017

The final quarter of the office campaign 2017 can be summed up like a Merchant Ivory film – void of action and soporific. Now the Dow Jones... that was a good flick... an entertaining, one-way ride north in closing up 24.39 percent for the year. At a significantly less severe trajectory, total market weighted average asking rents closed at $2.73 full service gross, up $0.18 from one year ago. Total market vacancy is at 10.4 percent, up from the close of 2016’s 9.3 percent. Contrasting 2016's total market positive annual net absorption of 744,072 square feet, 2017 realized 462,115 square feet of negative net absorption.

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