Fairfield Q2 Office Market Report & Forecast
Office Market Remains Challenged
The office market in Solano and Napa counties remained challenged in the second quarter of 2014. Leasing activity was light and sales activity was non-existent. The vacancy rate dipped by a negligible 0.1 percentage points to 20.0 percent and net absorption was positive 3,863 square feet. Average asking rates in the second quarter inched upwards by $0.01 to $1.65 per square foot per month (psf/mo) full service (FS).