IE Business Daily Business news for the Inland Empire.
The High Desert office market recorded a vacancy rate of 4.2 percent and net absorption of 16,828 square feet during the second quarter, according to Lee & Associates Commercial Real Estate Services.
Average lease rates were $1.17 per square foot, according to Dock High, a quarterly newsletter published by Lee & Associates’ Victorville office.
Dock High’s second quarter edition was released Monday.
The High Desert industrial sector recorded a 6.5 percent vacancy rate, net absorption of 511,026 square feet and an average lease rate of 88 cents per square foot. Retail had an 8.7 percent vacancy rate, absorbed 15,285 square feet and had an average lease rate of $1.09 per square foot.
All data in the report came from CoStar, the commercial real estate website.
