In summary the report shows:
- Net absorption totaled a positive 300,000 square feet in Q4.
- Net absorption was down from Q3 when it totaled 463,000 SF.
- Rental rates remained at $7.32/SF/Year average – no change from Q3.
- Two buildings totaling 120,000 SF were delivered to the market.
- Tenants moving into large lease spaces included Travis Association for the Blind moving into 150,000 SF on Carlos Parker Blvd, Warner Brothers moving into 105,000 SF on Fleming Ct and Insys Therapeutics taking 53,000 SF on Oakmont Dr.
- Nationally the vacancy rate sits at 8%.