FAIRFIELD, CA, 2/3/2017
– Colliers International’s Fairfield office, which covers Solano, Napa and parts of Contra Costa counties, recently released fourth quarter market research reports showing strong demand in Solano and Napa County’s industrial market continued in 2016, and this demand is driving the current high levels of construction in the region.
2016 also marked the fifth consecutive year of strong demand in the industrial market. The current vacancy rate of 6.1 percent is less than half of the 15.0 percent vacancy rate experienced in early 2011. The food and beverage industry has been the leading driver of creating low vacancy and increased construction of bulk logistics properties.
By contrast, the same cannot be said about the office market in Solano and Napa counties, as they experienced a quiet end to 2016. These markets had limited activity in the fourth quarter as fundamentals remained generally flat and the vacancy rate declined fractionally from 17.2 percent to 16.9 percent for the quarter. The medical/healthcare industry continues to be the leading driver for office activity. The biggest story in Solano County is the continued construction of Partnership Health Plan’s 101,000 square foot Class A office building on Business Center Drive in Fairfield.
Download the full reports here:
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