Despite a Flat Quarter Asking Rates Increased
Class A asking rates increased 1.3 percent to $3.13 per square foot in the same period. A handful of vacancies in the first quarter resulted in a net occupancy loss of 160,000 square feet across all classes in the Tri-Valley. Though activity levels softened, investors, taking advantage of low-interest rates, purchased properties increasing the total square footage sold by 168 percent year-to-year.
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