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2022 Q1 Solano & Napa Office Market Research Report

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Activity Remained Low

MR_FAI_22Q1_OFC_175x227The office vacancy rate in Solano and Napa counties increased in the first quarter of 2022 from 18.1 percent to 18.5 percent. Office leasing and sales activity remained low as the continuing pandemic continues to severely limit deal velocity and companies reevaluate their office space needs. Net absorption was negative 21,169 square feet for the first quarter. The combined average asking rate across all classes of office remained flat at $1.99 per square foot per month full-service gross (FSG).

 

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2022 Q1 Solano & Napa Office Market Research Report

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