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NAR’s CRE Report Bodes Well for California

The National Association of Realtors has just put out its quarterly commercial real estate forecast, and much of it has good news regarding the industry in California. Meanwhile, it looks like things are also improving nationwide as well.

In the office sector, San Francisco has the third-lowest vacancy rate in the country, at 10.6 percent, behind only New York City and Washington, D.C.

Two California locales performed best when it came to industrial vacancy rates. Orange County was the nation’s leader, at 3.4 percent, while Los Angeles came in second at 3.6 percent.

Retail’s best performing areas were also dominated by areas in the state. San Francisco’s three percent vacancy rate made it tops, in second place was shared by Orange County and San Jose, at 4.6 percent.

Multifamily was no different. San Bernardino-Riverside came on top, at 2.5 percent. Sacramento’s 2.6 percent was second, and the East Bay Area and San Diego shared fourth in the nation, at 2.8 percent.

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