2022 Q1 Solano and Napa Counties Industrial Market Research Report

Strong Tailwinds Continue to Drive Demand

The industrial vacancy rate in Solano and Napa counties increased minimally from 2.4 to 3.3 percent in the first quarter. The uptick is primarily a result of two buildings in Vacaville – a newly constructed vacant 304,655 square foot warehouse and a 337,896 square foot warehouse came back on the market. After record setting levels of net absorption in 2021, net absorption has remained strong as it was positive 481,600 square feet for the quarter. The region’s steady expansion continued as 968,836 square feet of new construction was delivered in the quarter. Average asking rates remained unchanged at $0.72 per square foot per month triple net (NNN) this quarter.

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2022 Q1 Solano and Napa Counties Industrial Market Research Report

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Scott Ellis

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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.

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Andrew Forbes

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