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Fresno Market Reports

Fresno Office Market

Average Asking Rent (Price/SF)     $1.63
Vacancy Rate (%)    12.1%
Net Absorption (SF)  -56,745

The Fresno office market recorded little movement in its lease rates during the second quarter of 2017 but experienced its highest increase in overall vacancy in several quarters. This was largely due to a fairly sizeable downtown office building being vacated, which resulted in vacancy increasing 2.4% in the submarket and 0.4% in the overall market. Conversely, most of the other submarkets saw a slight decrease in vacancy.

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
2Q17
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