Business & Real Estate

Report: Vacancy rates improving in three key commercial sectors in Sacramento area

The vacancy rate in the Sacramento-area retail market fell to 8.91 percent in this year’s third quarter, the lowest level since 2008, according to the latest report by the regional office of Voit Real Estate Services. In the previous quarter, the rate was 9.11 percent.

Also in the third quarter, the Sacramento retail market posted more than 280,000 square feet of positive net absorption. That marked the 18th consecutive quarter of positive results, according to Voit.

Voit also noted that the Sacramento-area office market continued to improve. The third-quarter office vacancy rate was 14.76 percent, down from 15.09 percent in this year’s second quarter and the 15th consecutive quarterly decrease.

The report showed continued recovery in the region’s industrial market, with vacancies decreasing to 10.08 percent, down from 11.23 percent in the initial quarter of 2014. The third-quarter rate in the industrial sector is the lowest since 2008.