"It was a new record low on available property in the last 10 years," says Jerry Holdner, report author and VP of market research for Voit. "South county has the biggest dip in available product in the past six months."
Similar to the office market, Holdner notes that supply and demand for industrial space are in check. A lot of new product that came on the market during the period was absorbed with the increase in business startups and expansions thoughout the county.
Overall, the county has 7,800 buildings with 274 million sf of leasable space for manufacturing/distribution, R&D, and flex-tech combined. Another 3.5 million sf is currently under construction, with 8.8 million sf planned for the future.
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