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Sacramento Market Reports

Sacramento Office Market Report

Average Asking Rent (Price/SF)            $1.82
Vacancy Rate (%)         14.62%
Net Absorption (SF)         458,301

The Sacramento office market posted almost 450,000 square feet of positive net absorption in the second quarter of 2017, bringing the year-to-date total to 533,282 square feet. That is the highest midyear net absorption total in 12 years. Submarkets that posted the most growth for the quarter were: Folsom, 50 Corridor East and Midtown. With these solid gains, the vacancy rate dropped to 14.6%, representing a 0.85% drop from the prior quarter. These statistics are indicative of a stable and growing job market for the region, which has a current unemployment rate of 4.1% and job gains of 7,900 jobs between April and May 2017. Submarkets with the lowest vacancy include: Rocklin; Folsom; West Sacramento; and South Natomas.

Sacramento Industrial Market Report

Average NNN Asking Rent (Price/SF)        $0.43
Vacancy Rate (%)      7.38%
Net Absorption (SF)  1,314,197

The greater Sacramento industrial market has gone through an amazing transformation over the last 12 months. A year ago, the overall vacancy rate was just over 11.0% and had been within that range for most of the previous year. While vacancy had been declining for several years, the progress was slow and steady. In the last 12 months, however, the pace of recovery has improved to such an extent that the market has recorded its lowest vacancy rate ever. This drop in vacancy, from 11.07% a year ago to 7.38%, represents a 33.0% decrease over 12 months. Current market activity-inquiries, tours, proposals, leases out for signing and properties in escrow-has been doing well recently and should drive down the record low vacancy rate much farther in the very near future.



Sacramento Office Market Report
2Q17
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Sacramento Industrial Market Report
2Q17
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