Business Journal Events
Industrial vacancies down in Madera County
- Published on 11/08/2012 - 11:30 am
- Written by Business Journal staff
Industrial vacancies continued to decline in Madera County during the third quarter of the year as more manufacturers made claims there.
According to a recent report by TK Consulting, the vacancy rate dropped to 3.93 percent in the quarter compared to 4.04 percent the previous quarter and 8.83 percent a year ago and 13.24 percent the year before that.
Of the slightly more than 7 million square feet of building space for industrial purposes in Madera County, there is still 276,918 million square feet still available for manufacturers to fill.
The inventory includes multi-tenant and single tenant buildings with at least 5,000 square feet.
According to the report, monthly rental rates for industrial properties during the latest quarter averaged 36 cents per foot, with a high of 60 cents and a low of 26 cents.
Notable deals in the quarter included the $650,000 sale of a 12,050 square-foot warehouse with a showroom near Highway 41 and Children's Hospital Central California.
Also, the 99,000 square-foot former Oberti Olive facility sold for $2,356,000.
Available properties for sale or lease can be found on the Madera Economic Development
Commission website at maderaindustry.org.