A new era
After two years of the pandemic impacting our office markets, the commercial real estate landscape in the North I-680 Corridor is gaining serious momentum. The overall vacancy rate has decreased to 18.9 percent, marking three quarters of consecutive decreases in vacancy since the pandemic began. Overall weighted asking rents decreased to $3.06 from $3.12 the previous quarter. Lease velocity continued the momentum from the previous quarter leading to 110,510 square feet of absorption across all submarkets.
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