2020 Q3 Stockton/Central Valley Industrial Market Research Report

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Demand & New Construction Drive Rent Growth

MR_SCK_20Q3_IND_175x227The San Joaquin County overall industrial market vacancy at the close of the third quarter increased only slightly by 20 basis points to 7.4 percent as the COVID-19 pandemic continues; however, it is having little effect on the market. Over the course of the following few quarters, the county will see numerous large developments currently underway complete and immediately absorb with leases in place prior to completion. Total net absorption for San Joaquin County during the third quarter equaled 775,399 square feet, increasing the year-to-date net absorption to just shy of 3.0 million square feet. Four industrial buildings were completed during the quarter adding more than 1.0 million square feet to the base inventory. Year-to-date development has totaled over 2.8 million square feet; while just under 4.5 million square feet remains under construction throughout the county. Notable industrial sales in the county took place in multiple submarkets. The overall weighted average asking rate for the county remained relatively flat at $0.53 per square foot, triple net.

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2020 Q3 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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