Industrial Continues to Outpace
The Solano and Napa counties industrial market’s vacancy rate decreased in the fourth quarter of 2020 from 4.1 percent to 4.0 percent. Demand for industrial properties continues to outpace other commercial real estate sectors, driven by the rapidly increasing demand for e-commerce distribution. Net absorption for the fourth quarter was positive 880,915 square feet and for the year it was positive 2,278,440 square feet. Average asking rates increased by $0.02 to $0.70 per square foot per month triple net (NNN) this quarter.
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