Friday, February 27, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Industrial market remains healthy, office market cool

biz buzz_8_6_14

Pride Industries and Cortica Benicia both leased spaces in this warehouse at 2479 Courage Drive in the Solano Business Park. (Robinson Kuntz/Daily Republic)

By
From page A10 | August 11, 2014 |

FAIRFIELD — The industrial market in Solano and Napa counties cooled off in the second quarter of the year, yet remained healthy, even as the office market continued to face challenges.

That’s the assessment in the latest financial report by Colliers International’s Fairfield office. The second quarter ran from April through June.

Vacancy rates for industrial uses in the two counties rose from 7.2 percent to 7.9 percent. That came after nine consecutive quarters of declines.

The industrial vacancy rate in Fairfield remained at 4.2 percent, the report said. But the city did see some market activity.

Pride Industries and Cortica Benicia both leased 7,347-square-foot spaces at 2479 Courage Drive in the Solano Business Park. In the region’s largest sale, Victor Ferrante bought 8,600 square feet at 1058 Horizon Drive for $696,800, or $81 per square foot.

Vacaville saw its industrial vacancy rate decline, from 6 percent to 4.7 percent. WECO Industries leased 13,000 square feet at 4971 Allison Parkway, the report said.

Even though the two-county industrial vacancy rate rose to 7.9 percent, it remains about half the recent peak of 15 percent in early 2011, the report said.

“Given the strength of the wine industry driving both counties and Solano County’s location as a regional transportation hub, the outlook is positive for both the short and long term in the region,” the report said.

Colliers described the local office market as “challenged.” The vacancy rate for the two counties remained just about the same at 20 percent.

Fairfield’s rate dipped from 24.8 percent to 24.5 percent, with no significant lease transactions, the report said. The most noteworthy Fairfield story was The Wiseman Co. launching the first office construction project in several years, a 30,000-square-foot building at 2470 Hilborn Road, it said.

The office market is recovering nationally and in other parts of the Bay Area, the report said. Solano and Napa counties are lagging because they are more agricultural and more of a warehousing and transportation hub. In addition, companies are making more efficient use of office space.

Eventually, tenants should spill over from other parts of the Bay Area where rents have skyrocketed, Colliers International predicted.

“Solano County in particular remains affordable for both companies and employees to relocate,” it said.

Do you have a Biz Buzz item? Reach Barry Eberling at 427-6929, or [email protected] Follow him on Twitter at www.twitter.com/beberlingdr.

Barry Eberling

Barry Eberling

Barry Eberling has been a reporter with the Daily Republic since 1987. He covers Solano County government, transportation, growth and the environment. He received his bachelors of art degree from the University of California, Santa Barbara and his masters degree in journalism from the University of California, Berkeley.
LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

 
Children tackle history during Wax Museum project

By Susan Winlow | From Page: A1, 1 Comment | Gallery

Suisun Walmart to open March 25

By Ian Thompson | From Page: A1, 14 Comments | Gallery

 
Searchers find infant’s body

By Lauren Keene | From Page: A1, 3 Comments

 
 
Pedestrians hit by cars in 2 separate incidents

By Kevin W. Green | From Page: A3, 9 Comments | Gallery

 
 
Legislative committee votes for earthquake relief bill

By Kevin W. Green | From Page: A4

Vacaville police clear homeless from area

By Kevin W. Green | From Page: A4, 5 Comments

 
 
NorthBay Healthcare Group expands lease

By Kevin W. Green | From Page: A5

State to close part of I-80 to continue project

By Kevin W. Green | From Page: A5

 
Fairfield police log: Feb. 24, 2015

By Susan Hiland | From Page: A10

 
Suisun City police log: Feb. 24, 2015

By Susan Hiland | From Page: A10

.

US / World

Family celebrating one-month birthdays of identical triplets

By The Associated Press | From Page: A2 | Gallery

 
Harris only Dem left after Villaraigosa exits campaign

By The Associated Press | From Page: A5

Regulators eyeing tighter cybersecurity requirements

By The Associated Press | From Page: A5

 
Technology might have prevented deaths in train crash

By The Associated Press | From Page: A5

Speaker has plan to help fund affordable housing

By The Associated Press | From Page: A5

 
Massive I-95 pileup leaves 17 injured in snowy Maine

By The Associated Press | From Page: A5, 1 Comment

CEO has plan for crime prediction system

By The Associated Press | From Page: A5

 
Dog owner lawsuit alleges food made his pups sick

By The Associated Press | From Page: A5

What happens, and not, in Homeland Security shutdown

By The Associated Press | From Page: A5

 
Pet shop owner found guilty of arson

By The Associated Press | From Page: A5

 
Polanski appears in court to face extradition

By The Associated Press | From Page: A6

Hungarian village available for rent

By The Associated Press | From Page: A6

 
Journalists arrested in Paris for drone flights

By The Associated Press | From Page: A6

Afghanistan avalanche destroys homes, kills 124

By The Associated Press | From Page: A6

 
.

Opinion

Chinese economy may be stalling – and that’s OK

By William Pesek | From Page: A7

 
Time to put down the joystick

By Kelvin Wade | From Page: A7

 
Editorial Cartoon: Feb. 26, 2015

By Daily Republic Syndicated Content | From Page: A7

 
.

Living

Today in History: Feb. 26, 2015

By The Associated Press | From Page: A2

 
Community Calendar: Feb. 26, 2015

By Susan Hiland | From Page: A2

 
Horoscopes: Feb. 26, 2015

By Holiday Mathis | From Page: A9

.

Entertainment

Gucci designer makes debut during Milan Fashion Week

By The Associated Press | From Page: B5

 
People: Lindsay Lohan

By The Associated Press | From Page: B5

TVGrid

By Daily Republic Syndicated Content | From Page: B5

 
.

Sports

Bay Area’s Semien in the mix for A’s shortstop job

By The Associated Press | From Page: B1

 
Clark says players against radical speed-up changes

By The Associated Press | From Page: B1

 
Kings grind out 102-90 win over Grizzlies in Sacramento

By The Associated Press | From Page: B1 | Gallery

 
McIlroy looking to keep momentum to the Masters

By The Associated Press | From Page: B2

 
IOC head quizzed about water shortages in Rio, golf course

By The Associated Press | From Page: B2

.

Business

.

Obituaries

Thomas Browning

By Nancy Green | From Page: A4

 
Felipe Mata Mislang

By Nancy Green | From Page: A4

.

Comics

Frank and Ernest

By Daily Republic Syndicated Content | From Page: A8

 
Garfield

By Daily Republic Syndicated Content | From Page: A8

B.C.

By Daily Republic Syndicated Content | From Page: A8

 
Rose is Rose

By Daily Republic Syndicated Content | From Page: A8

Wizard of Id

By Daily Republic Syndicated Content | From Page: A8

 
Zits

By Daily Republic Syndicated Content | From Page: A8

Baldo

By Daily Republic Syndicated Content | From Page: A8

 
Blondie

By Daily Republic Syndicated Content | From Page: A8

Pickles

By Daily Republic Syndicated Content | From Page: A8

 
Peanuts

By Daily Republic Syndicated Content | From Page: A8

Beetle Bailey

By Daily Republic Syndicated Content | From Page: A8

 
Dilbert

By Daily Republic Syndicated Content | From Page: A8

Get Fuzzy

By Daily Republic Syndicated Content | From Page: A8

 
Baby Blues

By Daily Republic Syndicated Content | From Page: A8

For Better or Worse

By Daily Republic Syndicated Content | From Page: A8

 
Sally Forth

By Daily Republic Syndicated Content | From Page: A8

Word Sleuth

By Daily Republic Syndicated Content | From Page: A9

 
Sudoku

By Daily Republic Syndicated Content | From Page: A9

Cryptoquote

By Daily Republic Syndicated Content | From Page: A9

 
Crossword

By Daily Republic Syndicated Content | From Page: A9

Bridge

By Daily Republic Syndicated Content | From Page: A9