Sales Velocity Improves as Leasing Activity Slows
As we move into the second half of 2022, the North I-680 Corridor industrial market remains mostly unchanged from the past few cycles. The overall vacancy rate held steady at 8.1 percent, the same as the previous quarter. Overall average asking rents increased to $0.80 from $0.78 across the same period. Sales velocity sharply picked up with six transactions during the quarter, an increase from the past several quarters.
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