Vacancy Continues Its Downward Trajectory
Vacancy for industrial properties in Solano and Napa counties continued its downward trajectory in the first quarter of 2019. The combined vacancy rate declined from 5.2 percent to 4.0 percent in the quarter. Furthermore, the vacancy rate has declined 2.9 percent from its rate of 6.9 percent a year ago. Net absorption for the quarter was positive 694,568 square feet. Average asking rates increased from $0.57 to $0.63 per square foot per month triple net (NNN) this quarter.
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