North Bay/Santa Rosa’s retail vacancy rate increased in the second quarter 2017, ending the quarter at 4.3%. Over the past four quarters, the market has seen an overall increase in the vacancy rate, with the rate going from 3.9% in the third quarter 2016, to 4.1% at the end of the fourth quarter 2016, 4.2% at the end of the first quarter 2017, to 4.3% in the cur-rent quarter. The amount of vacant sublease space in the North Bay/Santa Rosa market has trended up over the past four quarters.
At the end of the third quarter 2016, there were 213,105 square feet of vacant sublease space. Currently, there are 341,846 square feet vacant in the market.