Vacancy Hovering Around 15 Percent
Solano and Napa counties’ vacancy rate increased from 14.2 percent to 15.1 percent in the first quarter of 2018. This represents the eighth consecutive quarter that the vacancy rate has hovered within one percentage point of 15.0 percent. The net absorption in the quarter was negative 21,086 square feet. The combined average asking rate across all classes of office in the fourth quarter increased from $1.82 to $1.85 per square foot per month full service (FS).
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