The Beautiful Game
I went to the Screening of “The Beautiful Game” sponsored by Lance Hastings, the Director of CMTA. It turns out that the members of this year’s class of Leadership Sacramento were there. The Guild Theater in Oak Park is a great venue that seats about 100 people. After the movie, Scott Syphax moderated a panel […]
Transforming Sacramento – ULI – Studies and Theories with a Practical Touch
Batter Up! Transforming Sacramento. During a walkthrough of a client’s new office, I noticed two red wires dangling from the entrance to my client’s building. The wire had been connected to a new security camera; I hope they got the heist on video! But even if they caught the perpetrator, the ticket would probably be […]
You Don’t Have to Bring Your Dog to Work Anymore!
You are probably very familiar with hybrid work. Frankly, most of us start dozing off when we see another article about “The New Normal,” and I was hesitant to write about it. But the changes in Sacramento are worth noting. Recently, I toured an organization that was downsizing from 12,000 SF to 8,000 SF, and […]
Sacramento CRE Perspective 2023
Before the Pandemic, Downtown was the crown jewel. Frankly, it was on fire. It will likely be another tough year for Downtown, but I am confident that Downtown will shine again! Everything that was there is still there, except office workers. And while we do have a significant challenge with the homeless population, I am confident that with the right leadership, the homeless population will be addressed.
Midtown – Sold
Unicorns are extinct and many of them included exchange buyers. Office users have been in a coma (but I have noticed them starting to blink.) Developers are in hiding, and investors are extremely cautious.
Resilience – Sacramento Commercial Real Estate
Relativity: Relative to major markets in California and throughout the US, Sacramento is still a bargain: The average price of a Sacramento office building was $220 a SF in 2021 while the national average was $330 a foot. This disparity has attracted many institutional investors.
Amazon HQ2 Takeaways
Amazon Moving to Sacramento? No, but other Unicorns will! Last year, 238 Bidders for Amazon’s 2nd headquarters submitted proposals to induce Amazon to locate 50,000 employees in their regions. Everyone I am certain had reasons but according to CCIM’s chief economist, K.C. Conway, only 50 bidders met the base criteria. If it were not for […]
News Break: Sacramento Office Market Banned for Taking Performance Supplements
For decades, Sacramento has been considered a secondary or tertiary market. For those who bought-in 3 to 5 years ago, they are now reaping the benefits. Now that the office market has reached equilibrium, it is only a matter of a couple years until we will see meaningful uptick in construction of speculative office product. […]
It’s Just a Matter of Time
I attended a Panel Discussion Moderated by Randy Getz of CBRE at the Sutter Club in Downtown Sacramento this week. Chuck Trainor, Managing Partner of Trainor Fairbrook, introduced David Taylor. David Taylor humbly recounted his first development projects. Taylor has arguably had the most impact on Sacramento’s Skyline, developing The Sheraton, 1201K Street, 1215 K […]
Sacramento’s Big Man is just getting started.
How About Those Sacramento Kings? The Kings won last night without their Big Man, Cousins. Frankly, they looked like a whole new team, with contributions from everyone, with six players in double digits. Willie Cauley-Stein had a career high 29 points. Would the Downtown market be on such a winning streak without its Big Man? […]