As we move into the second half of 2018, the North I-680 Corridor’s industrial market continues to be extremely limited. The overall vacancy rate dropped to 4.2 percent, the lowest vacancy rate recorded since Colliers began tracking the market. As vacant space becomes more scarce, asking rents across all industrial types are increasing. Rental rates remained at $0.76, which is a nine year high. During the quarter there was 95,236 square feet of net absorption. There were also three sales this quarter, which is a bit lower than we have been experiencing in the past few cycles.
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