Sacramento Office/Industrial Markets Jumpstart 2019 with Growth plus New Record-Low Vacancy

Sacramento Region Maintains Strong Market Fundamentals SACRAMENTO, Calif. – May 9, 2019 – The Sacramento region’s Office and Industrial real estate sectors are off to a solid start in 2019, according to Cushman & Wakefield latest market reports. The office market kicked off the year with a strong 171,000 square feet (sf) of net absorption, with vacancy falling to 8.6%— marking the first time for office vacancy to fall below 9.0%. Meanwhile, the Industrial sector added nearly a quarter of a million square feet of occupancy growth while vacancy hit yet another new record low of 4.4%. Will Austin, Cushman & Wakefield’s Senior Market Analyst for Sacramento, said, “Sacramento now boasts the strongest office market fundamentals for the current economic cycle. Net absorption has exceeded 100,000 sf in nine of the last 12 quarters, while vacancy has fallen 300 basis points and asking lease rates have risen 12.9% during that [...]

2019-05-09T13:19:26-07:00May 9th, 2019|In the News|

Cushman & Wakefield’s Capital Markets Group Helps Boost Sacramento Office Investment Activity in 2019

Firm Announces Sale of Two High Profile, Fully Leased Properties, and Brings another Major Property to Market SACRAMENTO, Calif., February 28, 2019 – Cushman & Wakefield announced today the firm’s Northern California Capital Markets group, together with local market experts, have collaborated to advise on a pair of high profile investment sale transactions totaling approximately 466,000 square feet in the Sacramento region. The sales consisted of a fully leased medical office portfolio along with a multi-building office campus leased to a Fortune 500 Company. Ron Thomas, Managing Principal of Cushman & Wakefield’s Sacramento office, said, “Sacramento’s economy remains robust, while leasing and sales activity across our commercial and housing sectors continues to flourish. Investors, whether regional, national or global companies or high net worth individuals, remain magnetized by our market’s strong fundamentals and performance—spurred particularly by what’s happening in the San Francisco Bay Area.” He added, “These large-scale transactions that [...]

2019-02-28T08:46:23-07:00February 28th, 2019|In the News|

Sacramento CRE Markets Reach Record-Level Statistics in 2018

Capital City Metro Economy Remains Robust, Continued Sign of Growth SACRAMENTO, Calif., February 5, 2019 – The Sacramento region’s commercial real estate sectors are performing well, with some statistics even achieving or approaching record levels, according to Cushman & Wakefield’s year-end market reports for 2018, along with insight from the firm’s local experts. Overall, 2018 was a strong year for the Office market as net absorption (occupancy growth) tallied more than one half million square feet annually, vacancy declined further, and the average asking rate rose another 5%. Meanwhile, the Industrial sector posted strong occupancy growth to the tune of nearly 3 million square feet (msf) in 2018 complemented by decreased vacancy to sub 5% and rising asking rates. Will Austin, Cushman & Wakefield’s Senior Market Analyst for Sacramento, said, “Overall office vacancy fell further into single-digit territory to 9.2% in 2018, the lowest point Cushman & Wakefield has recorded, [...]

2019-02-05T10:49:28-07:00February 5th, 2019|In the News|

Penumbra Enters Sacramento with 157,500 SF Class A Lease at Roseville Innovation Park

SACRAMENTO, Calif. – November 16, 2018 – Cushman & Wakefield announced Penumbra, a global healthcare company, has signed a new lease for 157,518 square feet of Class A office space at the Roseville Innovation Park in Roseville (Sacramento), California. The property is owned by a joint venture between Farallon Real Estate Partners and Strada Investment Group. Ron Thomas, Chris Schwarze, Bruce Hohenhaus, and Kevin Partington with Cushman & Wakefield’s Sacramento office represented the landlord, and Ed Grammens of Cushman & Wakefield’s San Francisco office represented the tenant. Located at 630 Roseville Parkway, Penumbra’s lease expansion will mark the company’s first entry into the Sacramento region, and their second office facility within Northern California as well as the U.S. The company, which focuses on innovative therapies, is headquartered in the East Bay city of Alameda, approximately 100 miles southwest of Roseville.  Penumbra also has international office locations in Germany, Australia and Brazil. Mr. [...]

2018-11-16T09:22:20-07:00November 16th, 2018|In the News|

518,000 SF Single-Tenant Industrial Portfolio Trades for $34 Million in Sacramento

SACRAMENTO, Calif. – September 4, 2018 – Walnut-Creek based Nearon Enterprises has made its first entry into the Sacramento region, recently acquiring a fully leased industrial portfolio totaling 517,767 square feet (sf) for $34 million. The seller was Massie & Co., a real estate development firm in Sacramento and Reno, NV. The sale included the three buildings located at 6300 S. Watt Ave, 8360 Elder Creek Rd. and 8920 43rd Ave., which are fully leased to American Building Supply, Inc. (ABS), a wholly owned subsidiary of Jeld Wen. Cushman & Wakefield’s Kevin Partington, Matt Cologna, Bryce MacDonald, David Nicholson, Ron Thomas, Bruce Hohenhaus, Chris Schwarze, Adam Lasoff, Seth Siegel, Steven Hermann, and Eric Fox with Cushman & Wakefield represented the seller in the transaction. The Cushman & Wakefield team was strategically drawn from brokers in Sacramento providing strong local knowledge and sales/leasing expertise together with a veteran capital markets group from offices [...]

2018-09-04T14:44:41-07:00September 4th, 2018|In the News|

Sacramento’s 179,000 SF Creekside Oaks Complex Sells for $32 Million – Cushman & Wakefield Brokers Sale and is Retained for Leasing of Class A Campus

SACRAMENTO, Calif. – August 30, 2018 – San Rafael-based Seagate Properties has acquired Creekside Oaks, a 178,694-square-foot Class A office complex located in Sacramento, for $32.2 million. The business complex consists of three high quality buildings located at 1740, 1750 and 1760 Creekside Oaks Dr. and was sold by Ridge Capital, Inc. The acquisition was the upleg of the buyer’s 1031 Exchange. Kevin Partington, Ron Thomas, Bruce Hohenhaus, Chris Schwarze, Seth Siegel, Steven Hermann, Eric Fox, Adam Lasoff, and George Eckard with Cushman & Wakefield’s Sacramento and Bay Area offices represented the seller in the transaction. Partington along with Sean Mullens and Kris Kamblach in the firm’s Sacramento office were also retained by Seagate Properties for leasing services for the complex. Mr. Partington, Executive Director, said, “Desirably located in Sacramento’s South Natomas submarket, Creekside Oaks has been meticulously maintained and upgraded over the years and represents one of the premier office projects [...]

2018-08-30T15:54:38-07:00August 30th, 2018|In the News|