The Sacramento Kings staying in Sacramento was great, but the Golden One Arena and its profound ripple effect is the biggest game changer since the Gold Rush. Other cities (San Diego, Denver, San Francisco, etc.) have developed new arenas and the impact on their economies have been great. However, in relative terms, Sacramento’s Arena will
Sacramento’s Core (Midtown and Downtown) is not very sneaky. In fact the whole world has taken notice. One thing I didn’t now about Core is this: Core recently took up golf, and in 2015 made the PGA Tour. In a matter of months, Core has risen to the top of the money list! At
How long would a snail survive without its shell; a porcupine without its quills; a skunk without its spray? As a commercial real estate broker representing occupiers in their commercial real estate dealings, I strongly encourage retaining a broker when dealing with a renewal or new lease. Certainly, you are capable of finding space; there
The Greater Sacramento Economic Council (GSEC) invited a select group of commercial real estate brokers over to their office last night. Barry Broome, President and CEO, laid out GSEC’s game plan. The first step, which seems to be coming to a close, has been to get organized and get a lay of the land. GSEC understands
Downtown Sacramento Class A office rents have increased significantly over the last 6 months, and it seems that the expectations of most Tenant’s have adjusted in step. I think a big reason why most tenants have adapted (begrudgingly) to increased rent is because Downtown Sacramento is a different value proposition. A client of mine owns
It’s not the Gold Rush……. Gradual Value Appreciation? I think not. Property is selling in the Midtown and Downtown Markets (The Core) for prices that are justified by increased demand for housing in Core, the development of the Arena and a multitude of other developments (see this October 14 Post on Urban Land Value. Believe
With the 4th of July just a day away I dusted off the old history book and started reading about our Founding Fathers. One of them, Thomas Jefferson who was President at the time (1803), sent Robert Livingston over to France to negotiate the Louisiana Purchase. Later, Jefferson sent James Munroe to assist, but shortly
Over 30 years ago, voters passed Proposition 13 in response to unpredictable tax increases imposed on property in this state. Prop. 13 set a base rate of taxation and limited annual increases in assessed value. This protection continues today for all residential, commercial and industrial properties. Year after year, legislation is introduced to increase taxes
It looks like the iconic Senator Office Building is about to change hands. The building consists of about 160,000 square feet on 10 floors, and has historically been a popular location for lobbyists and associations since it is directly across the street from the Capitol. In 2010 CALHFA vacated the building to move into a