Uptown Studios HQ, Broadway Corridor, Sacramento “If you don’t know where you are, you don’t know who you are” – Wendell Berry When negotiating a lease, you have to pay attention to the bottom line, but you cannot forget about your team. No longer is it just about price and how many cubes you can
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
Sacramento CA: About a week ago, 621 Capitol Mall sold for $161,000,000. This amounts to $439 per square foot; nearly $100 a square foot more than what Wells Fargo Center sold for 14 months ago. 621 Capitol Mall (aka US Bank Tower) was built in 2008 and is home to Downey Brand, US Bank and
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.
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
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
While the Sacramento commercial real estate market seems white-hot, with property flying off the shelf, most buyers of commercial properties (not to be confused with multifamily) are deliberate and sensible. Recent sales in Midtown and Downtown certainly show that values are up, and the sales demonstrate that the Arena effect is more than hype, it
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