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Fresno Market Reports

Fresno Office Market

Average Asking Rent (Price/SF)     $1.70
Vacancy Rate (%)    10.0%
Net Absorption (SF)  66,876

Fresno's office market experienced a strong third quarter of 2019. Clovis saw the most activity of any submarket, resulting in a 1.5% decrease in vacancy. Northwest and West Shaw followed close behind, as vacancy dropped 0.6% in both submarkets. Fresno's overall vacancy rate dropped to 10.0%, a 0.2% decrease from the previous quarter. The average asking monthly rent decreased $0.02/SF to $1.70/SF, as lower-cost product became available.

Fresno Industrial Market

Average Asking Rent (Price/SF)       $0.35
Vacancy Rate (%)         6.5%
Net Absorption (SF)     38,088

Midway through 2016, the industrial market is doing well. As with most California industrial markets, the regional marketplace, including Fresno and Visalia, is absorbing space and experiencing increasing values. Demand for existing space across most product types is steady and supply is decreasing. The results are expected: New development is occurring and asking prices are increasing. Concerns about ag-related businesses scaling back operations due to the drought have not materialized, which bodes well for the region, especially if there is a wet winter and spring. Overall, the sentiment in the market is that the local and regional economy is reasonably strong, and there are few concerns that negative changes are on the horizon.



Fresno Office Market Report
3Q19
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