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Fresno Market Reports

Fresno Office Market

Average Asking Rent (Price/SF)     $1.74
Vacancy Rate (%)      9.9%
Net Absorption (SF)  35,485

Fresno's office market remained steady during the fourth quarter of 2019. The most active submarkets were Downtown Fresno and the Airport, where vacancy declined by 0.9% and 0.6%, respectively. Overall vacancy by declined 0.1% quarter over quarter and 1.5 % year over year. Average asking rents rose $0.02/SF from the prior quarter and $0.03/SF per month from one year ago.

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
4Q19
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