|Direct Full Service Asking Rent (Price/SF)||$1.89|
|Net Absorption (SF)||-60,734|
The Sonoma County office market continued to experience negative absorption in the fourth quarter of 2022, with vacancy increasing 80 basis points to 16.5%. The availability rate was 18.5% at the end of the fourth quarter of 2022, an increase of 60 basis points from the third quarter of 2022. Office occupancy decreased in the fourth quarter of 2022, with a net absorption of negative 60,734 square-feet. Santa Rosa had the most negative absorption, with 11,595 square feet becoming vacant at 133 Aviation Blvd.