Strong Finish Sets the Stage for 2022
As we wrap up 2021, the North I-680 Corridor’s office market is having a bit of a resurgence. The overall vacancy rate has decreased to 19.3 percent, the first consecutive decreases in vacancy since the pandemic began. Overall weighted asking rents decreased to $3.12 from $3.18 the previous quarter. Lease and sale velocity ramped up during this final stretch in 2021, leading to 137,989 square feet of absorption across all submarkets and more investments sales than in recent cycles.
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