Leasing Activity Remains Quiet And Sales Activity Declines
In the first quarter of 2014, office market leasing in Solano and Napa counties remained quiet, and the vacancy rate increased marginally from 20.4 percent to 20.9 percent. Net absorption for the quarter was a negative 25,659 square feet. Average asking rates in the fourth quarter declined by $0.04 to $1.64 per square foot per month (psf/mo) full service (FS). Sales activity declined in the first quarter as there was only one sale of an office building in Solano and Napa counties.