An Increase in Sales
There was an increase in sales of office properties in Solano and Napa counties in the third quarter of 2018. There were three sales of greater than 15,000 square feet in a quarter for the first time in two and a half years. At the same time, leasing activity in the office market remained quiet as vacancy increased from 15.4 percent to 16.5 percent. The combined average asking rate across all classes of office in the third quarter increased from $1.86 to $1.91 per square foot per month full service (FS).
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