Record Setting Year for Industrial Market
As we prepare to put a bow on 2018, the North I-680 Corridor’s industrial market is going through a record breaking year. Overall vacancy rate dropped to 3.8 percent, continuing the trend of record low vacancy in the market. Rental rates increased to $0.78, continuing to ride a nine year high. During the quarter there was 86,610 square feet of absorption. Construction is underway at Kendall Plaza in Brentwood, which would provide nearly 30,000 square feet of additional warehouse space. Two sales occurred during the quarter, which is lower than the past few cycles.
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