Cushman & Wakefield | Thalhimer reports that the overall industrial vacancy rate in the Fredericksburg area declined 4.5 percentage points to 8.1 percent in the third quarter.
The commercial real estate firm said the area’s overall office vacancy rate meanwhile declined one-tenth of a percentage point to 13.8 percent during the third quarter.
The report notes that the region’s unemployment rate in August was 4.2 percent and 1,353 jobs were added in the area since August 2015.
Industrial net absorption stood at 170,000 square feet in the third quarter compared with 53,000 square feet in the same quarter last year.
