Sacramento office market reports
Q1 2022: Despite an uptick in activity, the Sacramento office market ended the first quarter little changed from the previous quarter. Conversely, most Sacramento office tenants are dedicated to office leasing and working to repopulate the office environment.
The state of California has taken a significant step in the path to normalcy. Recent government agencies have required some form of return to office that could boost occupancy, increase foot traffic, and promote retail.
Demand has been slowly growing toward pre-pandemic levels resulting in more occupancy against few vacancy additions.
Currently, only one non-government office building is under construction totaling 275,000 sf with completion during fall 2022.
Vacancy has been above 12% during the last five quarters.
As the State of California moves agencies out of leased properties to newly constructed, state-owned buildings, available space will remain elevated.
Direct asking rates
Elevated vacancy has flattened rent growth resulting in a $2.15 full service average over the last three quarters.
Despite sales volume of roughly half that of the fourth quarter 2021 total, investor interest and activity have been steady during the pandemic.
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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.
Explore different topics like the latest office market pricing trends and analysis of Sacramento's current office real estate market conditions. Gain a better understanding of Sacramento’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Sacramento's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Sacramento.
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