Sacramento office market reports
Q4 2022: Sacramento office vacancy has performed better during the pandemic relative to other Northern California markets. While other markets saw vacancy more than double, Sacramento only rose from 10.3% in Q1 2020 to 15.1% in Q4 2022 as the region saw less remote work and downsizing.
Office inventory remained flat for the quarter with no deliveries and only 275k sf under construction.
QTD Net Absorption
Net absorption was significantly positive for the quarter, a strong improvement over Q3, which saw 540k of negative absorption.
Total vacancy rate was slightly decreased from the previous quarter, perhaps a sign that the Sacramento market is on the path to recovery.
Total Available Square Feet
With several companies downsizing office needs or going fully remote, the amount of office square feet available to the Sacramento market slightly increased over the previous quarter.
Direct Asking Rate Full Service
Overall direct asking rent is flat over the previous quarter. The gap between Class A and Class B rents have narrowed, with Class B rent increases being offset by Class B rent decreasing.
Total Sale Volume
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Get in-depth office market reports and insights from commercial real estate experts in the Greater Sacramento area. Avison Young advisors look at Sacramento commercial real estate activities and the latest Sacramento statistics to provide you expert market research on Sacramento's office properties.
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