The 2019 Central Valley Office Market in Summary
The Central Valley office market closed the first quarter of 2019 with positive absorption. The average overall asking lease rate has decreased from $1.61 to $1.57 per square foot, full service gross, from the close of 2018. Actual average asking lease rates for Class A, B and C product continues the upward trend from 2017 and will continue through 2019. However, due to positive absorption of 57,966 square feet of Class A office space and negative 47,697 square feet of Class B space, the total weighted average of office rents shows a decrease in overall average asking lease rates..
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