Vacancy Continues to Dwindle
The vacancy rate for the industrial market in Solano and Napa counties continued to dwindle in the second quarter of 2018. The combined vacancy rate now stands at 6.4 percent, down from 7.3 percent in the prior quarter. Nearly half of this vacancy is in two buildings: the 843,248 square foot warehouse at 700 Crocker Drive in Vacaville and the 430,500 square foot warehouse at 2950 Cordelia Road in Fairfield. Excluding those two vacancies, the combined vacancy rate is only 3.9 percent. Average asking rates remained flat at $0.55 per square foot per month triple net (NNN) this quarter.
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