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Fresno Market Reports

Fresno Office Market

Average Asking Rent (Price/SF)     $1.71
Vacancy Rate (%)    10.4%
Net Absorption (SF)  64,762

With the federal government standoff in full swing, Fresno's office market showed zero signs of a shutdown during the first quarter of 2019. The most active submarkets included Downtown Fresno and North East Fresno, where vacancy rates dropped 0.7% and 1.4%, respectively. Overall vacancy was down 0.1% quarter-over-quarter and 0.8% year-over-year. Average monthly asking rents were up $0.02/SF from last quarter. Year-over-year average asking rental rates increased $0.05/SF.

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
1Q19
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