The area’s office-space market has been slowly improving, with preleasing of what’s under construction, another Colliers report said. “Not only is there strong demand for new construction given the low vacancy rates in the region, but Solano and Napa counties still have available developable land, while most of the other Bay Area counties do not,” said a first-quarter report from Colliers International’s Fairfield office ( /fairfield).
With over 800,000 square feet of warehouse and other industrial space completed in Solano and Napa counties in the first quarter of this year and nearly as much space under construction, to have the area’s vacancy rate virtually unchanged speaks to “strong demand” for industrial real estate there, according to new reports.