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Industrial space demand in the North Bay is high despite rising rental rates

  • ​Healthy demand measuring about 5.0 million square feet is targeting the North Bay, including 3.0 million square feet specifically focused on Napa and Solano County.

  • Tenant interest is strong in spite of rising rental rates in Napa and Solano Counties. The vacancy rate fell from 5.1 percent in Q3 to 4.4 percent in Q4, despite new product deliveries and increased leasing activity.

  • A new wave of construction started in the fourth quarter (or 1Q?) in Sonoma County, Napa County, and Solano County will add 518,375 square feet to the market. ​

Source: JLL Research, Q4 2017​

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