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Fresno Market Reports

Fresno Office Market

Average Asking Rent (Price/SF)     $1.67
Vacancy Rate (%)    11.0%
Net Absorption (SF)  47,719

Fresno's office market remained strong in the second quarter of 2018, although a few submarkets experienced minor increases in vacancy rates, most likely because of greater demand for office space in the northern submarkets. The East Shaw submarket recorded the greatest change in vacancy, an increase of 1.3% over the second quarter. East Shaw Avenue also remained the submarket with the highest vacancy rate at 19.1%. The second-quarter vacancy rate decreased to 11%, down 0.7% from the end of 2017. Average asking rents increased $0.01/SF. Year-to-date absorption ended the second quarter in the positive with 141,747 square feet.

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
2Q18
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