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
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.
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
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?
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
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
Jeff Randle of Randle Communications stated in his December 2015 editorial, “I believe 2016 will determine Sacramento’s future. Decisions made by our leaders plus choices made by residents will set a course for generations to come.” See the editorial from the Business Journal: Key issue of 2016: private-sector growth Of course, I completely agree, but
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