Industrial Market Improved Throughout 2012 -The North I-680 industrial market improved in the fourth quarter of 2012 and finished the year with a 10.8 percent vacancy rate, the lowest total vacancy in four years. Transaction velocity was steady throughout the quarter with the majority of leasing activity occurring in Concord. Antioch saw over 100,000 square feet of net absorption caused by a large block of warehouse space that came off the market through the expansion of an existing tenant. There was 170,062 square feet of net absorption. Market-wide vacancy has fallen to lows not seen since the second half of 2008. This is a reflection of the improving local economy and falls in line with recent trends in regional employment data. Total asking rents remained fl at at $0.59 per square foot (PSF). Antioch led the market in net absorption posting 147,434 square feet, followed by Concord with 54,495 square feet. Pittsburg and Martinez registered the highest instances of negative net absorption in the region.
2012 Q4 | Walnut Creek Industrial | Market Report
