Empty retail spaces down to 9% in area

Published: Thursday, Jul. 11, 2013 - 12:00 am | Page 6B
Last Modified: Thursday, Jul. 11, 2013 - 7:53 am

The vacancy rate in the Sacramento region retail market dipped to 9.03 percent, according to the second-quarter 2013 commercial real estate report by the regional office of Voit Real Estate Services.

That was below the historical average of 9.1 percent and down from a revised 9.2 percent in this year's first quarter. The rate was 9.89 percent in the second quarter of 2012.

The local retail market posted nearly 211,000 square feet of positive net absorption in the second quarter, although Voit noted that sales and leasing activity was relatively low.

In its office market report, Voit said the area's office vacancy rate in the second quarter was 15.94 percent, compared with a revised 16.29 percent in the first quarter. It was 17.48 percent in last year's second quarter.

Voit said the latest total marks the fourth consecutive quarter of vacancy decreases in the region, and is the first time that the office vacancy rate dipped below 16 percent since early 2009.

Call The Bee's Mark Glover, (916) 321-1184.

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