Industrial Vacancy Continues Steady Decline – The North I-680 industrial market continued to improve in the third quarter of 2013 with vacancy falling 50 basis points to 7.8 percent, the lowest total vacancy since the third quarter 2007. Vacancy has steadily decreased for five consecutive quarters. Transaction velocity was steady during the quarter with Concord leading the region in leasing activity. Pleasant Hill and Brentwood also posted positive net absorption figures. There was 91,068 square feet of total net absorption for the quarter. Total asking rents remained flat at $0.60 per square foot (PSF). Concord led the market in net absorption with 81,541 square feet, followed by Pleasant Hill with 25,840 square feet, and Brentwood with 16,830 square feet. Antioch and Martinez were the only submarkets with significant negative net absorption.
2013 Q3 | Walnut Creek Industrial | Market Report
