At the start of the fourth quarter, the vacancy rate for industrial buildings in the Valley was 7.7%, a slight increase from the start of the third quarter, which posted a vacancy rate of 6.9%, according to a recent survey by CB Richard Ellis.
The rate should easily remain below 10% by year-end, making it the seventh straight year that it has been below the double digit mark.
"The net absorption has been more aggressive than we thought," says Mark Krison, an industrial and office broker with CB Richard Ellis. "The vacancy rate has not changed much in four years. That's a very health vacancy rate."
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