The Asheville industrial market ended the fourth quarter 2015 with a vacancy rate of 5.8%.
The vacancy rate was down over the previous quarter, with net absorption totaling a positive 111,576 sq ft in the fourth quarter. Vacant sublease space remained unchanged in the quarter ending at zero square feet. Rental rates ended at $4.01, no change over the previous quarter. Two buildings were delivered to the market that totaled 80,000 sq ft, with 133,000 sq ft still under construction at the end of the quarter.
One of the notable sales that occurred in the fourth quarter was listed by NAI Beverly-Hanks commercial real estate associate, Debbie Lane. Robin Boylan of NAI Beverly-Hanks represented the buyer in the purchase of 32,000 sq ft industrial warehouse on 3.7 acres at 3175 Sweeten Creek Road for $1,425,000. The property was sold to an owner/user.
Search commercial real estate properties for sale in the industrial sector at naibhcommercial.com