The Richmond office market finished the fourth quarter of 2021 with a vacancy rate of 7.0%, one of the lowest rates in the nation amongst major metropolitan areas and well below the 17.6% nationwide average.
Richmond’s industrial market closed the fourth quarter with near record numbers for nearly every key performance indicator. There nearly 1.6 msf of new inventory delivered, an amount second only to the 1.8 msf delivered in 2020.
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