Wednesday, April 16, 2014

Commercial real estate market tightens in Washington County

The vacancy rate for industrial space in the county was hovering at about 3.5 percent after the first quarter, driving increases in lease rates and potentially putting the squeeze on efforts to attract new manufacturers and other companies. Lease rates are up 25 percent from last year across the board, and there are only two large industrial buildings available for new tenants. There is open ground available for new construction, but the market is hungrier for completed buildings according to industry specialists. The Spectrum