In the News

Investor Group Buys American River Plaza in Folsom

  Story by Garaventa Enterprises Sells Center With Leasing Upside Potential A partnership led by Sacramento-based Ethan Conrad Properties recently acquired American River Plaza shopping center at the intersection of Greenback Lane and Madison Ave. in Folsom, CA, from Garaventa Enterprises for $11.22 million, or about $98 per square foot. The 114,220-square-foot retail center is anchored by Big Lots and Ace Hardware. The Wald/Kathrein Team of Cushman & Wakefield, a retail investment team based in San Francisco composed of Dan Wald, Eric Kathrein and Justin Sharp, marketed the property on behalf of the seller. The buyer was self-represented. The brokers offered the center as a value-add opportunity with the opportunity to replace the below-market ground rent from a long-term leasehold under a 41,384 square foot former Albertson’s supermarket. "When re-leased by its master tenant, this former anchor space, currently 50 percent occupied by Big Lots, should generate significant new [...]

2018-05-08T14:00:46+00:00 December 3rd, 2015|Featured, In the News|

Marketbeat Industrial Snapshot Q3 – Sacramento

Activity Picks Up in Q3; Occupancy Gains and Rising Rents Overall, the Sacramento economy is gradually improving as we head into the final quarter of 2015. The region (defined as the Sacramento-Roseville-Arden Arcade MSA) employed a little over one million people at the close of Q3. After adding 25,000 jobs over the past year, regional employment has grown by roughly 2.5%. Unemployment has fallen a healthy 90 basis points since this time last year and now stands at 5.7%; significantly lower than the 12.8% reported in Q1 2011. Industrial Vacacy: 9.3% Vacancy in the Sacramento industrial market stood at 9.3% at the close of Q3 2015. This marks the third consecutive quarter of industrial vacancy under 10%. This metric is 130 basis points (BPS) lower than the vacancy rate recorded this time last year. Quarterly occupancy growth was positive, reaching 1,290,548 square feet (SF) in Q3, which is a considerable [...]

2018-05-08T14:01:54+00:00 December 2nd, 2015|Featured, In the News|

Ethan Conrad Wins Bidding for Folsom Shopping Center

Story by Ben van der Meer Staff Writer- Sacramento Business Journal American River Plaza A shopping center in Folsom that has potential for higher earnings attracted 12 offers — and sold for $11.22 million.  Real estate investor Ethan Conrad was the winning bidder, closing escrow on American River Plaza last week. A major attraction: the property will gain value once a key vacancy is filled. Dan Wald, an executive managing director with Cushman & Wakefield in San Francisco, said that potential created strong buyer interest. “There’s a tremendous amount of capital looking for value-add situations,” he said. 85 % Occupancy The 114,220-square-foot center is about 85 percent occupied, but it’s actually more fully leased, Wald said. That's because the anchor building in the center, a former Albertson's, remains under lease though it is vacant. The leaseholder has sublet half of the 41,384-square-foot building to Big Lots. Fresh & Easy planned to put a grocery [...]

2018-05-08T14:02:00+00:00 November 13th, 2015|Featured, In the News|

Marketbeat Office Snapshot Q3 Sacramento

Steady Office Vacancy Declines Continue Through Q3 The Sacramento economy is improving at a steady pace. The region (defined as the Sacramento-Roseville-Arden Arcade MSA) employed a little over one million people at the close of Q3. After adding 25,000 jobs over the past year, regional employment has grown by roughly 2.5%. Unemployment has fallen a healthy 90 basis points since this time last year and now stands at 5.7%; significantly lower than the 12.8% reported in Q1 2011. This trend of moderate employment growth is anticipated to continue for the near term and is reflected in recent occupancy gains and has subsequently tempered rent growth.   Vacancy/Occupancy The Sacramento office market completed Q3 2015 with a vacancy rate of 13.6%, which reflects a modest decrease from the 13.7% rate recorded in the previous quarter. A year ago this figure was 14.1%. This is the lowest office vacancy rate the region has seen [...]

2018-05-08T14:02:09+00:00 October 27th, 2015|Featured, In the News|

Downtown Commons (DoCo) Reveals First Restaurant Tenants

Story by Sonya Sorich Early Restaurant Picks Reveal Retail Strategy for DoCo Entertainment Venues are Key to Making Arena-Area Retail a Destination. Bowling lanes. Farm to fork. Innovative design elements. Those details about the first three businesses in the retail area around Golden 1 Center provide a glimpse of its future. Or, at least, a sense of the vibe that the Sacramento Kings and retail development partner JMA Ventures are looking for. VIEW SLIDESHOW 4 photos They want a mix of memorable stores and restaurants that make the area — dubbed Downtown Commons, or “DoCo” — a lifestyle and shopping destination. Still unclear is how many of the restaurants and stores will be local — and how that mix will affect the project’s fortunes. “We are particularly motivated to draw tenants that are new to the market and enhance the downtown experience without diluting its unique character,” said David Scanlon, a [...]

2018-05-08T14:02:41+00:00 October 12th, 2015|Featured, In the News|

Sacramento Kings Announce First Tenants for Arena Retail Space: Now Called Downtown Commons

  Story by Ben van der Meer Staff Writer- Sacramento Business Journal Downtown Commons The mixed-use development around Golden 1 Center in downtown Sacramento has a name – and its first three confirmed tenants. Officials with the Sacramento Kings and JMA Ventures said they have dubbed retail space in a redeveloped portion of Downtown Plaza, along with the mixed-use hotel tower now under construction, as "Downtown Commons."  They also named three national retail tenants for that development. Those tenants — including two that will be establishing their first California locations — are: Pour Society, occupying 6,000 square feet in the revamped western portion of Downtown Plaza, is described as a modern re-imagination of the classic America pub/restaurant. Chef Bradley Ogden, a Northern California resident, will pair farm-to-fork dishes with boutique wines, craft beer on draft and in bottles and handcrafted cocktails. The venue should open in late 2016, adding to [...]

2018-05-08T14:02:48+00:00 October 7th, 2015|Featured, In the News|

The American Consumer: Pulling His Own Weight Again

By Ken McCarthy Senior Managing Director, Regional Research Director The Confident Consumer Consumer confidence continues to trend upward, pointing to faster growth in household spending and solid demand for retail, industrial, and hospitality real estate. Consumer spending has accelerated over the past 18 months after three years of tepid growth. An important driver has been the improvement in confidence. The overall level of confidence in the economy has been consistently high throughout 2015, suggesting that households will be comfortable increasing spending this year. Consumers’ views of the current situation are particularly healthy, suggesting that most of their trepidation is a result of uncertainty about the future. Current conditions are the most important driver of consumer spending. Consistently high levels of confidence about current conditions suggests that consumer spending will remain healthy in the second half of the year. The U.S. Consumer: Driving Growth The U.S. consumer has under-spent in the current economic expansion. [...]

2018-05-08T14:02:55+00:00 October 7th, 2015|Featured, In the News|

Social Stratosphere Update: Toot Your Own Trumpet

by Mike Kirner Senior Marketing Associate & Storyteller Northern California Toot Your Own Trumpet ( Warning: This is NOT an Endorsement of Any Presidential Candidate ) While listening to the GOP front runner's lively ( and often controversial) communications and antics is interesting to some and over the top annoying to others, he is able somehow to garner more media attention than anyone could possibly fathom. There are people on the opposite side of the political spectrum who have allegedly said, "I cannot get enough of him." Frankly, the brash and outspoken billionaire and real estate mogul routinely breaks virtually all the rules of Public Relations and deftly manages to rise in popularity. No one knows how this will eventually play out. Love, Loathing or Laughter Whether he inspires love, loathing or laughter - this is a seasoned brand builder at work. CNN and FOX News viewers like myself will [...]

2018-05-08T14:03:01+00:00 October 6th, 2015|In the News|

Dreams of a Hip, High-Tech Sacramento Hinge on Kings’ New Home Court

  Story by Keith Schneider Photos by Max Whittaker SACRAMENTO — When it opens for the Sacramento Kings’ first home basketball game, the Golden 1 Center — which will have the capacity to hold 17,500 fans and is designed with online graphic and social media interfaces — will be more than the newest and most technologically advanced arena in the National Basketball Association. The arena, which will cost about $500 million, will have aircraft hangar doors on its north side that open onto a public plaza anchored by a luxury hotel. There are also plans for more than one million square feet of retail, recreation, office and housing space. The four-block development — total price about $1 billion — was previously occupied by an underperforming indoor shopping mall built in 1971. Mayor Kevin Johnson of Sacramento sees it as the catalyst for efforts to convert California’s capital into a hot [...]

2018-05-08T14:03:10+00:00 September 6th, 2015|Featured, In the News|

Andrew Winberry Joins C&W Sacramento

ANDREW WINBERRY Associate Andrew Winberry has joined Cushman & Wakefield as an Associate working for the Capital Markets team. Andrew lives in Sacramento and recently earned his MBA with a Finance concentration at California State University, Sacramento. Andrew brings ten years of professional experience as a project manager in the land planning and real estate development industries. He was previously a Senior Planner with Sierra County and a Forward Planner with GSJ Co. LLC, a residential home builder in the Sacramento region. His core competencies include financial analysis, development feasibility analysis, environmental compliance, government relations and contract negotiation. When not at work, Andrew enjoys spending time with family, supporting Sacramento Republic Football Club, climbing High Sierra peaks, golfing and skiing. Andrew Winberry 916.288.4443   Last Week's Top Stories  

2018-05-08T14:03:17+00:00 August 28th, 2015|Featured, In the News|