Industrial Overview
The vacancy rate increased to 5.0% and there was a positive net absorption of 4,500,000 square feet over the last 12 months. The average asking rental rates increased to $10.13 PSF. For the second quarter, there are 111,000 square feet still under construction.
Office Overview
The vacancy rate slightly decreased to 9.5% and there was a positive net absorption of 487,000 square feet over the past 12 months. The average asking rental rates increased to $23.18 PSF from $22.57 PSF, from Q1. For the second quarter, there are 143,498 square feet under construction.
Retail Overview
The vacancy rate decreased to 4.3% and there was a positive net absorption of 811,000 square feet over the past 12 months. The average asking rental rates increased to $18.47 PSF from $17.74 PSF, from Q1. For the second quarter, there are 373,079 square feet under construction.
THRIVE News
-The Sale of 1702 N. Explorer Dr., in Briargate.
-The Lease of Redline Athletics in the Peak Lifestyle Center.
-The Lease for Teriyaki Madness restaurant in the Sand Hill Retail Center.
-The Sale of 575 Union Blvd., a development opportunity, near downtown.
