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2021 Q4 Solano and Napa Counties Industrial Market Research Report

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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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2021 Q4 Solano and Napa Counties Industrial Market Research Report

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Scott Ellis

Executive Managing Director

Walnut Creek

Scott originally started his career in commercial real estate at Grubb & Ellis, where he served for 20 years as Office Division Director.  Scott then joined Colliers Parrish International in Walnut Creek in 2000 where he spent 11 years as Senior Vice President and Office Division Director and recently returned as Executive Managing Director. 

Over the past 30 years, Scott has been regarded as one of the top office brokers in the north I-680 corridor.  During his career, he has successfully leased over 5,000,000 square feet of office space and brokered over $920,000,000 in office building sales.  Scott has brokered three of the largest leases ever done in the I-680 market to such companies as PG&E, Contra Costa County and Wells Fargo.  During his career, Scott has consistently been awarded top overall office division producer, Office Broker of the Year and Circle of Excellence. 

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