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Sacramento Market Reports

Sacramento Office Market Report

Average Asking Rent (Price/SF)             $1.83
Vacancy Rate (%)          13.97%
Net Absorption (SF)         260,848

The Sacramento office market maintained strong momentum through the first three quarters of 2017, posting over 260,000 square feet of net absorption in the third quarter. This brings the year-to-date net absorption to just under 800,000 square feet, setting the stage for one of the office market's best performances in over a decade. The vacancy rate dropped from 14.6% to 13.9%, the lowest third-quarter vacancy since 2003, while leasing activity remained steady in most major submarkets. These statistics are consistent with a recent report by the Federal Bureau of Economic Analysis on the gross domestic product of the country's largest metropolitan areas for 2016. The Sacramento Metropolitan Statistical Area grew at a rate of 3.1%, one of the highest growth rates in the country. This doubled the national average of 1.5% for other major metropolitan areas.

Sacramento Industrial Market Report

Average NNN Asking Rent (Price/SF)        $0.44
Vacancy Rate (%)        6.78%
Net Absorption (SF)   533,590

The metrics for the third quarter of 2017 show that Sacramento's industrial market continues to grow. For the sixth consecutive quarter, the vacancy rate has declined, average rent has increased and net absorption has continued its positive trend. This latest boom period for industrial users and investors took off after the rebound of California's housing market. With the oncoming legalization of the cannabis industry, the industrial market should experience steady growth.



Sacramento Office Market Report
3Q17
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Sacramento Industrial Market Report
3Q17
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