For the past few years, the North I-680 Corridor has experienced immense growth. Asking rental rates have increased to the highest Colliers has ever recorded. Although the vacancy rate has been increasing the past several quarters, the vacancy rate decreased to 15.0 percent, a drop from 15.4 percent the previous quarter.
Rents are still performing extremely well in the North I-680 Corridor. Class A rents are at $3.40 per square foot, a $0.15 increase year over year. Class B rents have increased to $2.44 per square foot, an increase of $0.19 over the same period. Overall average asking rents increased to $2.91 per square foot, a $0.13 increase from last year. This is a new all-time high for asking rates in the North I-680 Corridor.
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