Vacancy Remains Near Historical Lows
The industrial vacancy rate in Solano and Napa counties increased minimally from 2.2 to 2.4 percent in the fourth quarter, remaining near a historical low. Net absorption for the year of 2021 was positive 2,339,261 square feet, eclipsing the previous record of 2,288,881 square feet set in 2020. Average asking rates remained unchanged at $0.72 per square foot per month triple net (NNN) this quarter.
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