Kern County Market Statistics

The numbers that matter to companies leasing, buying and building commercial space in Kern County, in one place and updated monthly. Subscribers get the full report with commentary every month.

Kern County Industrial Market

Kern County industrial market figures are compiled monthly from ASU Commercial‘s Industrial Services Group and Kern CRE’s property and transaction records. The Industrial Services Group includes Dylan Lym, Wes McDonald, Jared Lubatti, John Ritchie, Parker Reynolds, and Barry Hibbard. The month each figure covers is shown under it. Definitions are listed below.

Kern County Office Market

Kern County office market figures are compiled quarterly from ASU Commercial‘s Office Services Group and Kern CRE’s property and transaction records. The Office Services Group includes Matthew Starr, Martin Starr, Jake Shaw, and Dylan Lym. The quarter each figure covers is shown under it. Definitions are listed below.

Kern County retail, multi-family, agriculture, residential land, and other statistics can be provided by contacting ASU Commercial at 661-862-5454.

For fuel, building materials, interest rates, inflation, and other costs, see Economic & Commodity Data.

Definitions

• Vacancy Rate: space that is physically empty, as a share of total inventory.
• Number of Properties: This represents the total number of properties tracked which may be grouped with multiple APNs or buildings. This number does NOT represent the total number of buildings in the market.
• Net Absorption: the change in occupied space over the period (move-ins minus move-outs).
• Under Construction: Buildings that have broken group but have not yet received an occupancy permit. Planned or permitted projects are not counted until dirt is moved.
• Deliveries: This is the total square footage of those buildings under construction that have been fully completed within the period and are ready for immediate occupancy.
• Average Sale Price: This is the average price per square foot of buildings or properties that have sold within the period. Caution on relying on this number when valuing property. Inventory in the industrial and office markets can vary significantly, and the simple average may not reflect what any one specific property is worth.
• Average Cap Rate: Average capitalization rate for those properties that sold to an investor with a tenant & lease in place, in which the NOI and actual CAP rate are confirmed.
• Sales Volume: Aggregate dollar amount sold during the specified period.
• Asking Rent (NNN): average asking rent per square foot per month, with taxes, insurance, and maintenance paid by the tenant.