Market Summary.
Sacramento’s industrial fundamentals remain strong through 2021. Annual net absorption figures have totaled 6.6 million SF, with net deliveries at 3.3 million SF with another 4.1 million SF currently underway. Despite the new inventory, the vacancy rate has fallen with all the leasing activity in the market.
Key Takeaways.
- The market continues to attract large distribution and ecommerce users that historically focused on either the East Bay or Central Valley markets.
- Record net annual net absorption of 6.6 million SF, a vacancy rate that was fallen by -1.9% to 3.7%, and a 8.7% increase in asking rates to $10.10, the highest point in the last 10 years, combine to tell a very strong market narrative.
- Sacramento industrial rents continue to increase rapidly, recording growth of 8.7% year over year, very close to the national average of 11.0% and reaching $10.10/SF and just outpacing the national average for industrial rent growth at 11.0%.
The numbers.
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