2020 Q2 Stockton/Central Valley Industrial Market Research Report

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Demand & New Construction Drive Rent Growth

MR_SCK_20Q2_IND_175x227The San Joaquin County industrial market direct vacancy rate increased slightly mid-year 2020 by 60 basis points to 6.5 percent, with the overall vacancy rate equal to 7.2 percent. Activity throughout the county during the COVID-19 pandemic has remained fairly strong with only a very brief pause in activity. Available sublet space accounted for 0.7 percent of the overall vacancy rate, with 875,911 square feet available. Total net absorption for San Joaquin County during the second quarter equaled 1.4 million square feet, increasing the year-to-date net absorption to over 2.2 million square feet by the end of the first half of 2020. Eight industrial buildings were completed during the quarter adding a total of over 1.7 million square feet to the base inventory. Additionally, just over4.3 million square feet remains under construction throughout the county. The most notable industrial sale in the county was the sale of 155,945 square feet on Mariani Court for $136.78 per square foot, purchased by Nearon Enterprises of Walnut Creek, California. The overall weighted average asking rate for the county remained flat at $0.54 per square foot, triple net.

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2020 Q2 Stockton/Central Valley Industrial Market Research Report

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Kyle Mecker

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I am the Executive Managing Director for the Stockton/Central Valley office of Colliers International. My core focus is representing clients in all aspects of industrial real estate including land sales, investment sales, buyer/tenant site selection and acquisition and landlord/seller marketing and disposition.  I unsurpassed knowledge, strong relationships and credibility in the market creates opportunities for my clients.  Me and my team average more than 100 transactions annually, involving warehouse/ distribution centers, manufacturing facilities, flex buildings, special purpose properties and land throughout the San Joaquin Central Valley.

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