Central Valley Q2 Industrial Market Report & Forecast
Strong 2nd Quarter Absorption Leads To Lower Vacancies
Following strong leasing activity in the first quarter of 2014, absorption of industrial space in the second quarter reduced the vacancy rate just shy of one percentage point. The overall vacancy rate for San Joaquin County decreased from the previous quarter’s 10.4 percent to 9.5 percent for the second quarter, two percentage points below 2013’s vacancy. San Joaquin County absorbed a positive 805,549 square feet of available space in the second quarter, increasing our year-to-date net absorption to a positive 1,866,446 square feet. Overall, the market has continued to perform well through mid-year and is expected to continue through the remainder of 2014.