|Direct Full Service Asking Rent (Price/SF)||$1.90|
|Net Absorption (SF)||-130,471|
The Sonoma County office market took a slight downturn in the third quarter of 2022, with availability increasing 150 basis points to 17.9%. The vacancy rate was 15.7% at the end of the third quarter of 2022, an increase of 180 basis points quarter-over-quarter. Office occupancy decreased in the third quarter of 2022, with a net absorption of negative 130,471 square feet. Petaluma had the most negative absorption, with 72,316 square feet becoming vacant at 1465 N McDowell Blvd.