Office Report City, State Year Sacramento Valley Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael, Santa Cruz, Santa Rosa, Walnut Creek Broker Lic #00825241
Office Market Snapshot Sacramento Valley Market Tracker *Arrows = Current Qtr Trend 15.2% Net Absorption 472,155 SF Deliveries 0 SF Asking Rent $1.63 FS Office Market Maintains Momentum SACRAMENTO VALLEY OFFICE Economic Indicators Sacramento Valley Employment Sacramento Valley Unemployment Net Absorption Square Feet (000s) 3,000 2,500 2,000 1,500 1,000 500 0-500 -1,000-1,500 Q3 13 Q3 12 954,200 940,300 8.45% 9.71% U.S. Unemployment 7.4% 8. U.S. CCI 80.83 65.00 2009 2010 2011 2012 YTD-13 The Sacramento office market closed Q3 2013 with an overall vacancy rate of 15.2%. This marks a reduction from the 15.7% rate that was in place last quarter and the tenth consecutive quarter in which vacancy has either remained stable or declined. This also marks the seventh consecutive quarter of occupancy growth in excess of 100,000 square feet. One year ago local vacancy stood at 16.9%. In the intervening twelve months, the region s occupancy base has increased by over 1.7 million square feet. This total includes Q3 s gains, which came in at a respectable 472,000 square feet of space. Private sector deals continue to be the main driver of momentum in the office market. Though we have seen a few public sector deals recently the California Department of Housing and Community Development recently took space in Natomas, and both Placer County and Sacramento County have signed deals as well. Local and state government continue to be in low-to-no growth mode. While the healthcare sector dominated demand during the first half of the year, with large leases inked by companies like Sutter Health and Dignity Health, this quarter s activity was dominated by a mix of business types, including space users from the financial services, insurance, telecommunications and tech sectors. Though we saw a number of large deals in excess of 100,000 square feet signed over the first half of 2013, the majority of this quarter s activity was limited to smaller to medium space users generally active in the 10,000 to 30,000 square foot range. The current average asking rate for office space in the Sacramento region is $1.63 per square foot (on a monthly full service basis). This number is actually down slightly from the $1.64 rate that had been firmly in place for most of the past year. While we have seen some rental rate growth for Class A properties in the region s strongest submarkets, the overall average has yet to rebound. This metric has consistently hovered in the $1.63 and $1.69 range for the last two years. The local average asking rate had peaked just prior to the recession (Q2 2008) at $2.03 per square foot. The good news for local landlords is that continued decreases in the local vacancy rate will pave the way for rebounding rents. The bad news is that we don t anticipate overall averages to begin to rebound in any meaningful way until local vacancy is approaching the 11. mark and even at the current healthy pace of occupancy growth that is still a couple of years away. The current average asking rate for Class A space remains at $2.05 per square foot. 2 18% 10-Year Average 16% 14% 1 2009 2010 2011 2012 2013 Highlights: falls to 15.2%, the lowest rate the market has posted since Q1 2009. Q3 was the seventh consecutive quarter of moderate to strong occupancy growth with the market recording over 472,000 square feet of positive net absorption. Private sector demand is still the main driver of activity in the area. Healthcare is still in demand, but momentum slowed in Q3. Financial services, insurance, telecommunications and tech users all remain active. The average asking rental rate for all classes of product currently stands at $1.63 per square foot. Overall rental rate growth is not anticipated any time soon, though Downtown Class A rents will be ahead of the overall trend..
Office Market Snapshot Sacramento Valley SACRAMENTO VALLEY OFFICE Office Sales $250 $200 $150 $100 $50 $0 2009 2010 2011 2012 YTD-13 Sales Volume, $Mil # Bldgs Sold Average Asking Rate $1.90 $1.80 $1.70 $1.60 2009 2010 2011 2012 2013 140 120 100 80 60 40 20 0 Growth totals for the majority of the region s submarkets were positive in Q3. Four local submarkets posted occupancy gains in excess of 50,000 square feet. The Highway 50/Rancho Cordova submarket recorded the region s strongest performance, posting 213,000 square feet of positive net absorption the largest single-quarter occupancy gain that this trade area has seen since the recession. here fell from 16. to 14.7% over the past three months, While vacancy remains elevated and leasing conditions still largely favor tenants, this is the lowest vacancy rate this submarket has seen in the last three years. A number of major deals contributed to this quarter s vacancy decline; the California Health Benefit Exchange took occupancy of 66,000 square feet on White Rock Road, Sacramento County moved into 40,000 square feet on Goethe Road and University Enterprises occupied 30,000 square feet on Folsom Boulevard. The Roseville/Rocklin submarket also posted respectable growth totals, recording 114,000 square feet of positive net absorption as local vacancy fell from 20.6% to 19.9%. The 19.9% rate recorded this quarter marks the first time vacancy here has fallen under 2 since Q2 2007. A victim of overbuilding during the last real estate cycle, the Roseville/Rocklin submarket was already struggling with vacancy rates in excess of 2 when the recession hit. By Q1 2010 vacancy levels here reached as high as 30.6%. However, vacancy has consistently been on the mend since Q3 2011. With private sector demand continuing to outpace public sector activity in the region, Roseville/Rocklin ranks among the most improved of the region s suburban submarkets. That being said, even with recent improvement vacancy levels remain just below the 20. threshold. We are still likely a few years away before anything approaching market equilibrium here. Other submarkets that posted notable growth include Midtown, which recorded 79,000 square feet of growth and South Sacramento, which logged 74,000 square feet of positive net absorption. Meanwhile, the submarket that experienced any noteworthy loss was Downtown. Downtown saw 73,000 square feet of space returned to the marketplace as its vacancy rate climbed from 11.5% to 11.9%. The California Department of Housing and Community Development vacated their 136,000 square foot space at 1800 3rd Street this quarter. This single consolidation offset minor occupancy gains elsewhere in the Downtown marketplace. The Sacramento office market has been steadily improving over the last two years, and we anticipate that this improvement will continue heading into 2014. In fact, over the last two years, the occupancy base has expanded by just over 2.5 million square feet. Assuming this trend continues (barring any unforeseen vacancies or economic fallout from the government shutdown), vacancy should fall into the 14% range by the end of the year. Availabilities by Size (SF) Key Lease Transactions PROPERTY SF TENANT TRANSACTION TYPE SUBMARKET 1000 Sunset Blvd 31,653 Placer County New Lease Roseville/Rocklin 1740 Creekside Oaks Dr 23,019 Centene Corporation New Lease Natomas/Northgate 1180 Iron Point Rd 14,822 Aerojet New Lease Folsom 1530 Drew Ave 12,919 Marrone Bio Innovations New Lease Davis/Woodland 0-10K 10-25K 25-50K 50K+ 2620 21 st Street 6,500 Lyon Real Estate New Lease South Sacramento 2999 Douglas Blvd 6,475 Data Information Management New Lease Roseville/Rocklin
Cassidy Turley Office Market Snapshot Sacramento Valley INVENTORY SUBLET VACANT DIRECT VACANT VACANCY RATE CURRENT NET ABSORPTION YTD NET ABSORPTION UNDER CONSTRUC- TION AVERAGE ASKING RENT (ALL Classes) AVERAGE ASKING RENT (CLASS A) Submarket Downtown Sacramento 18,676,045 34,728 2,189,929 11.9% (72,600) (328,224) 0 $1.94 $2.63 Auburn/Lincoln 1,338,180 0 228,515 17.1% (2,827) (21,125) 0 $1.63 N/A Campus Commons 1,242,839 0 255,249 20.5% 4,075 29,907 0 $1.74 N/A Carmichael/Fair Oaks 1,030,802 0 110,116 10.7% 10,444 20,401 0 $1.28 N/A Citrus Heights/Orangevale 1,421,387 0 198,730 14. 15,431 1,107 0 $1.61 N/A Davis/Woodland 1,928,484 2,278 170,640 9. 602 42,095 0 $1.76 $2.10 East Sacramento 1,840,496 0 225,706 12.3% (4,965) (6,148) 0 $1.80 N/A El Dorado Hills 1,645,705 12,207 363,719 22.8% 4,365 3,858 0 $1.55 $1.58 Folsom 4,760,134 20,008 478,580 10.5% 2,868 56,327 0 $1.76 $1.90 Highway 50 Corridor 17,240,928 89,106 2,453,252 14.7% 213,354 313,991 0 $1.53 $1.82 Howe Ave/Fulton Ave 2,493,949 4,202 571,749 23.1% 14,600 12,986 0 $1.55 $1.85 Midtown 3,629,531 0 250,294 6.9% 78,707 48,938 0 $1.80 $2.25 Natomas/Northgate 6,086,799 2,219 1,344,804 22.1% 18,206 183,090 0 $1.71 $1.91 Point West 2,749,329 0 710,960 25.9% (4,631) 67,653 0 $1.59 $1.85 Rio Linda/North Highlands 1,009,080 0 313,693 31.1% 0 10,126 0 $1.41 N/A Roseville/Rocklin 10,425,276 8,841 2,063,555 19.9% 114,394 341,102 0 $1.60 $1.71 South Sacramento 4,284,359 0 489,650 11.4% 73,996 252,022 0 $1.45 $1.88 Watt Ave 2,435,917 1,891 310,443 12.8% 6,136 32,427 0 $1.31 N/A West Sacramento 1,983,136 9,949 190,055 10.1% 0 28,676 0 $1.68 $1.70 Class Breakdown Class A 26,230,375 118,021 3,427,181 13.5% 276,535 776260 0 $2.05 Class B 39,274,541 65,517 6,441,542 16.6% 173,819 170,448 0 $1.63 SUBMARKET TOTALS 86,222,376 185,429 12,919,639 15.2% 472,155 1,089,209 0 $1.63 $2.05 *Office asking rates converted to Full Service Key Office Sale Transactions PROPERTY SF BUYER CITY SALE PRICE 770 L Street 169,078 AMP Capital Sacramento $29,400,000 2575 E Bidwell Street 36,235 Azusa Housing Partners Folsom $4,600,000 8001 Folsom Boulevard 28,879 Goodwill Industries Sacramento $2,887,900 1517 L Street 12,000 California New Car Dealers Association Sacramento $2,800,000 1710 Prairie City Road 14,461 Pro-Led Company Folsom $2,100,000 About Cassidy Turley Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. Based in Washington, DC, the company represents a wide range of clients from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit for more information about Cassidy Turley. Abby Friedman Research Analyst 520 Capitol Mall Fifth Floor Sacramento, CA 95814 Tel: 916.617.4266 Fax: 916.376.8840 Managing Editor: Garrick Brown Director of Research gbrown@ctbt.com The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy. Copyright 2013 Cassidy Turley. All rights reserved.
Market Summary Submarket Building Vacant Space Rate Sq.Ft. Direct Sublease Total Q3-13 Q3-12 Downtown Sacramento 18,676,045 2,189,929 34,728 2,224,657 11.9% 10.3% $1.94 Auburn / Lincoln 1,338,180 228,515 0 228,515 17.1% 15.6% $1.39 Campus Commons 1,242,839 255,249 0 255,249 20.5% 23.1% $1.73 Carmichael / Fair Oaks 1,030,802 110,116 0 110,116 10.7% 12.5% $1.11 Citrus Heights / Orangevale 1,421,387 198,730 0 198,730 14. 14.9% $1.36 Davis / Woodland 1,928,484 170,640 2,278 172,918 9. 11.5% $1.76 East Sacramento 1,840,496 225,706 0 225,706 12.3% 10.3% $1.80 El Dorado Hills 1,645,705 363,719 12,207 375,926 22.8% 22.7% $1.55 Folsom 4,760,134 478,580 20,008 498,588 10.5% 11.9% $1.76 Highway 50 / Rancho Cordova 17,240,928 2,453,252 89,106 2,542,358 14.7% 17.4% $1.53 Howe Ave / Fulton Ave 2,493,949 571,749 4,202 575,951 23.1% 22.6% $1.55 Midtown Sacramento 3,629,531 250,294 0 250,294 6.9% 8.3% $1.80 Natomas / Northgate 6,086,799 1,344,804 2,219 1,347,023 22.1% 24.8% $1.71 Point West 2,749,329 710,960 0 710,960 25.9% 28.7% $1.59 Rio Linda / North Highlands 1,009,080 313,693 0 313,693 31.1% 40.8% $1.23 Roseville / Rocklin 10,425,276 2,063,555 8,841 2,072,396 19.9% 26.1% $1.60 South Sacramento 4,284,359 489,650 0 489,650 11.4% 15.1% $1.45 Watt Ave 2,435,917 310,443 1,891 312,334 12.8% 14.2% $1.31 West Sacramento 1,983,136 190,055 9,949 200,004 10.1% 10.2% $1.68 Totals 86,222,376 12,919,639 185,429 13,105,068 15.2% 16.9% $1.63 by Area 45% 4 35% 3 25% 2 15% 1 5% Avg. Asking Rate (FS) Average Asking Rate Full Service by Area Q3-13 Q3-12
Total Market Class A 25,942,264 26,047,375 26,177,375 26,177,375 26,230,375 Class B 39,255,916 39,255,916 39,274,541 39,274,541 39,274,541 Class C 20,717,460 20,717,460 20,717,460 20,717,460 20,717,460 Total Building Base 85,915,640 86,020,751 86,169,376 86,169,376 86,222,376 Class A 4,107,682 3,997,569 3,740,642 3,611,408 3,427,181 Class B 6,804,808 6,534,544 6,693,155 6,619,898 6,441,542 Class C 3,394,029 3,202,410 3,179,477 3,058,008 3,050,916 Total Building Base 14,306,519 13,734,523 13,613,274 13,289,314 12,919,639 Class A 142,463 156,472 174,617 157,329 118,021 Class B 101,394 97,635 90,224 74,677 65,517 Class C 4,184 4,022 5,455 2,903 1,891 Total Building Base 248,041 258,129 270,296 234,909 185,429 Class A 4,250,145 4,154,041 3,915,259 3,768,737 3,545,202 Class B 6,906,202 6,632,179 6,783,379 6,694,575 6,507,059 Class C 3,398,213 3,206,432 3,184,932 3,060,911 3,052,807 All Types 14,554,560 13,992,652 13,883,570 13,524,223 13,105,068 Total Occupied SF 71,361,080 72,028,099 72,285,806 72,645,153 73,117,308 Growth Rate (%) 0.4% 0.7% 0.1% 0.4% 0.5% : Class A 16.4% 15.9% 15. 14.4% 13.5% Class B 17.6% 16.9% 17.3% 17. 16.6% Class C 16.4% 15.5% 15.4% 14.8% 14.7% All Types 16.9% 16.3% 16.1% 15.7% 15.2% (FS/Month) Class A $1.99 $1.98 $2.05 $2.05 $2.05 Class B $1.67 $1.65 $1.64 $1.63 $1.63 Class C $1.15 $1.16 $1.17 $1.16 $1.16 All Types $1.64 $1.64 $1.64 $1.64 $1.63 Class A 0 105,111 130,000 0 53,000 Class B 21,000 0 18,625 0 0 Total A & B 21,000 105,111 148,625 0 53,000 Gross Absorption 1,035,411 1,286,123 1,257,027 1,122,297 1,192,917 Net Absorption 499,691 667,019 257,707 359,347 472,155 YTD Net Absorption 742,295 1,409,314 257,707 617,054 1,089,209 & Asking Rate Trend 2 16% 16.9% 17.3% 17.7% 17.7% 17.7% 17.6% 17.5% 17.4% 16.9% 16.3% 16.1% 15.7% 15.2% 8% 4%
Downtown Sacramento Class A 9,062,614 9,062,614 9,062,614 9,062,614 9,062,614 Class B 5,797,295 5,797,295 5,797,295 5,797,295 5,797,295 Class C 3,816,136 3,816,136 3,816,136 3,816,136 3,816,136 All Types 18,676,045 18,676,045 18,676,045 18,676,045 18,676,045 Class A 753,890 731,367 988,218 1,024,020 977,948 Class B 711,986 708,099 715,515 680,502 810,926 Class C 395,686 392,762 415,905 395,836 401,055 All Types 1,861,562 1,832,228 2,119,638 2,100,358 2,189,929 Class A 45,844 44,853 47,319 32,347 15,376 Class B 19,352 19,352 19,352 19,352 19,352 All Types 65,196 64,205 66,671 51,699 34,728 Class A 799,734 776,220 1,035,537 1,056,367 993,324 Class B 731,338 727,451 734,867 699,854 830,278 Class C 395,686 392,762 415,905 395,836 401,055 All Types 1,926,758 1,896,433 2,186,309 2,152,057 2,224,657 Total Occupied SF 16,749,287 16,779,612 16,489,736 16,523,988 16,451,388 Growth Rate (%) 0. 0.2% -1.6% 0.2% -0.4% : Class A 8.8% 8.6% 11.4% 11.7% 11. Class B 12.6% 12.5% 12.7% 12.1% 14.3% Class C 10.4% 10.3% 10.9% 10.4% 10.5% All Types 10.3% 10.2% 11.7% 11.5% 11.9% (FS/Month) Class A $2.63 $2.62 $2.64 $2.62 $2.63 Class B $1.80 $1.81 $1.77 $1.79 $1.80 Class C $1.37 $1.39 $1.38 $1.37 $1.38 All Types $1.93 $1.94 $1.93 $1.93 $1.94 Gross Absorption 172,121 118,178 68,585 155,868 143,424 Net Absorption 478 30,325-289,876 34,252-72,600 YTD Net Absorption 89,745 120,070-289,876-255,624-328,224 & Asking Rate Trend 14% 1 8% 6% 4% 2% 9.6% 10.2% 10.5% 10.7% 11.2% 10.8% 10.5% 10.3% 10.3% 10.2% 11.7% 11.5% 11.9% $3.00
Auburn / Lincoln Class B 646,470 646,470 646,470 646,470 646,470 Class C 691,710 691,710 691,710 691,710 691,710 All Types 1,338,180 1,338,180 1,338,180 1,338,180 1,338,180 Class B 131,354 124,690 127,456 125,568 129,663 Class C 73,706 78,678 89,424 100,120 98,852 All Types 205,060 203,368 216,880 225,688 228,515 Class C 4,184 4,022 2,552 0 0 All Types 4,184 4,022 2,552 0 0 Class B 131,354 124,690 127,456 125,568 129,663 Class C 77,890 82,700 91,976 100,120 98,852 All Types 209,244 207,390 219,432 225,688 228,515 Total Occupied SF 1,128,936 1,130,790 1,118,748 1,112,492 1,109,665 Growth Rate (%) -2.2% 0.1% -0.9% -0.5% -0.2% : Class A 0. 0. 0. 0. 0. Class B 20.3% 19.3% 19.7% 19.4% 20.1% Class C 11.3% 12. 13.3% 14.5% 14.3% All Types 15.6% 15.5% 16.4% 16.9% 17.1% (FS/Month) Class A Class B $1.58 $1.62 $1.63 $1.63 $1.63 Class C $1.21 $1.16 $1.09 $1.08 $1.08 All Types $1.44 $1.44 $1.40 $1.39 $1.39 Class B 21,000 0 0 0 0 Total A & B 21,000 0 0 0 0 Gross Absorption 8,882 12,184 6,470 14,966 1,268 Net Absorption -8,738 1,854-12,042-6,256-2,827 YTD Net Absorption -18,668-16,814-12,042-18,298-21,125 & Asking Rate Trend 18% 15% 9% 6% 3% 11.2% 11.6% 12.5% 12. 12.7% 12.9% 12.6% 13.6% 15.6% 15.5% 16.4% 16.9% 17.1%
Campus Commons Class B 1,052,570 1,052,570 1,052,570 1,052,570 1,052,570 Class C 190,269 190,269 190,269 190,269 190,269 All Types 1,242,839 1,242,839 1,242,839 1,242,839 1,242,839 Class B 266,094 257,618 257,251 232,978 229,254 Class C 21,138 27,538 28,019 26,346 25,995 All Types 287,232 285,156 285,270 259,324 255,249 All Types 0 0 0 0 0 Class B 266,094 257,618 257,251 232,978 229,254 Class C 21,138 27,538 28,019 26,346 25,995 All Types 287,232 285,156 285,270 259,324 255,249 Total Occupied SF 955,607 957,683 957,569 983,515 987,590 Growth Rate (%) 1.2% 0.2% 0. 2.1% 0.3% : Class A 0. 0. 0. 0. 0. Class B 25.3% 24.5% 24.4% 22.1% 21.8% Class C 11.1% 14.5% 14.7% 13.8% 13.7% All Types 23.1% 22.9% 23. 20.9% 20.5% (FS/Month) Class A Class B $1.74 $1.73 $1.72 $1.73 $1.74 Class C $1.62 $1.86 $1.61 $1.63 $1.63 All Types $1.73 $1.74 $1.71 $1.72 $1.73 Gross Absorption 24,027 24,626 5,815 35,725 11,599 Net Absorption 15,171 2,076-114 25,946 4,075 YTD Net Absorption -1,365 711-114 25,832 29,907 & Asking Rate Trend 3 25% 2 15% 1 5% 20.8% 20.8% 21.9% 23.4% 23. 23. 23.5% 24.3% 23.1% 22.9% 23. 20.9% 20.5% $3.00
Carmichael / Fair Oaks Class B 437,190 437,190 437,190 437,190 437,190 Class C 593,612 593,612 593,612 593,612 593,612 All Types 1,030,802 1,030,802 1,030,802 1,030,802 1,030,802 Class B 44,038 42,744 40,628 40,628 36,656 Class C 85,130 87,773 73,100 79,932 73,460 All Types 129,168 130,517 113,728 120,560 110,116 All Types 0 0 0 0 0 Class B 44,038 42,744 40,628 40,628 36,656 Class C 85,130 87,773 73,100 79,932 73,460 All Types 129,168 130,517 113,728 120,560 110,116 Total Occupied SF 901,634 900,285 917,074 910,242 920,686 Growth Rate (%) -0.2% -0.1% 1.6% -0.7% 1. : Class A 0. 0. 0. 0. 0. Class B 10.1% 9.8% 9.3% 9.3% 8.4% Class C 14.3% 14.8% 12.3% 13.5% 12.4% All Types 12.5% 12.7% 11. 11.7% 10.7% (FS/Month) Class A Class B $1.29 $1.29 $1.04 $1.28 $1.28 Class C $1.26 $1.21 $1.06 $1.03 $1.02 All Types $1.27 $1.24 $1.05 $1.11 $1.11 Gross Absorption 22,792 16,524 37,050 10,818 15,787 Net Absorption -2,361-1,349 16,789-6,832 10,444 YTD Net Absorption 12,207 10,858 16,789 9,957 20,401 & Asking Rate Trend 2 16% 8% 4% 13.1% 12.4% 11.5% 12.1% 13. 13.7% 12.6% 12.3% 12.5% 12.7% 11. 11.7% 10.7%
Citrus Heights / Orangevale Class A 79,163 79,163 79,163 79,163 79,163 Class B 543,867 543,867 543,867 543,867 543,867 Class C 798,357 798,357 798,357 798,357 798,357 All Types 1,421,387 1,421,387 1,421,387 1,421,387 1,421,387 Class B 122,481 101,185 104,202 110,716 104,678 Class C 89,957 98,652 107,737 103,445 94,052 All Types 212,438 199,837 211,939 214,161 198,730 All Types 0 0 0 0 0 Class B 122,481 101,185 104,202 110,716 104,678 Class C 89,957 98,652 107,737 103,445 94,052 All Types 212,438 199,837 211,939 214,161 198,730 Total Occupied SF 1,208,949 1,221,550 1,209,448 1,207,226 1,222,657 Growth Rate (%) 0.4% 0.9% -0.9% -0.2% 1.1% : Class A 0. 0. 0. 0. 0. Class B 22.5% 18.6% 19.2% 20.4% 19.2% Class C 11.3% 12.4% 13.5% 13. 11.8% All Types 14.9% 14.1% 14.9% 15.1% 14. (FS/Month) Class A Class B $1.51 $1.57 $1.60 $1.62 $1.61 Class C $1.15 $1.10 $1.05 $1.11 $1.09 All Types $1.36 $1.34 $1.32 $1.37 $1.36 Gross Absorption 19,261 41,133 20,482 10,706 16,813 Net Absorption 5,876 12,601-12,102-2,222 15,431 YTD Net Absorption 44,886 57,487-12,102-14,324 1,107 & Asking Rate Trend 24% 2 16% 8% 4% 18.4% 18.4% 18.1% 18.5% 19.3% 18.1% 16.1% 15.4% 14.9% 14.1% 14.9% 15.1% 14.
Davis / Woodland Class A 98,000 98,000 98,000 98,000 98,000 Class B 954,158 954,158 954,158 954,158 954,158 Class C 876,326 876,326 876,326 876,326 876,326 All Types 1,928,484 1,928,484 1,928,484 1,928,484 1,928,484 Class A 22,574 22,574 22,574 22,574 22,574 Class B 137,935 132,766 117,591 105,971 100,469 Class C 61,541 57,145 55,872 42,697 47,597 All Types 222,050 212,485 196,037 171,242 170,640 Class B 250 2,528 2,278 2,278 2,278 All Types 250 2,528 2,278 2,278 2,278 Class A 22,574 22,574 22,574 22,574 22,574 Class B 138,185 135,294 119,869 108,249 102,747 Class C 61,541 57,145 55,872 42,697 47,597 All Types 222,300 215,013 198,315 173,520 172,918 Total Occupied SF 1,706,184 1,713,471 1,730,169 1,754,964 1,755,566 Growth Rate (%) 1.2% 0.4% 0.9% 1.3% 0. : Class A 23. 23. 23. 23. 23. Class B 14.5% 14.2% 12.6% 11.3% 10.8% Class C 7. 6.5% 6.4% 4.9% 5.4% All Types 11.5% 11.1% 10.3% 9. 9. (FS/Month) Class A $2.10 $2.10 $2.10 $2.10 $2.10 Class B $1.68 $1.71 $1.69 $1.69 $1.69 Class C $1.51 $1.52 $1.51 All Types $1.76 $1.78 $1.77 $1.76 $1.76 Gross Absorption 24,429 11,048 30,106 41,952 7,060 Net Absorption 22,391 7,287 16,698 24,795 602 YTD Net Absorption -7,360-73 16,698 41,493 42,095 & Asking Rate Trend 15% 9% 6% 3% 11.7% 11. 12.4% 12.5% 11.2% 11.1% 12.3% 12.7% 11.5% 11.1% 10.3% 9. 9.
East Sacramento Class B 1,500,061 1,500,061 1,500,061 1,500,061 1,500,061 Class C 340,435 340,435 340,435 340,435 340,435 All Types 1,840,496 1,840,496 1,840,496 1,840,496 1,840,496 Class B 156,657 164,127 165,278 165,278 169,145 Class C 32,635 55,431 55,463 55,463 56,561 All Types 189,292 219,558 220,741 220,741 225,706 All Types 0 0 0 0 0 Class B 156,657 164,127 165,278 165,278 169,145 Class C 32,635 55,431 55,463 55,463 56,561 All Types 189,292 219,558 220,741 220,741 225,706 Total Occupancy SF 1,651,204 1,620,938 1,619,755 1,619,755 1,614,790 Growth Rate (%) -0.1% -1.6% -0.1% 0. -0.3% : Class A 0. 0. 0. 0. 0. Class B 10.4% 10.9% 11. 11. 11.3% Class C 9.6% 16.3% 16.3% 16.3% 16.6% All Types 10.3% 11.9% 12. 12. 12.3% (FS/Month) Class A Class B $1.73 $2.02 $2.01 $2.01 $2.01 Class C $1.10 $1.15 $1.19 $1.17 $1.17 All Types $1.62 $1.80 $1.80 $1.80 $1.80 Gross Absorption 1,504 8,330 2,320 0 2,102 Net Absorption -1,281-30,266-1,183 0-4,965 YTD Net Absorption 62,821 32,555-1,183-1,183-6,148 & Asking Rate Trend 18% 15% 9% 6% 12. 16.3% 14.9% 14.6% 13.8% 13.7% 10. 10.2% 10.3% 11.9% 12. 12. 12.3% 3%
El Dorado Hills Class A 136,566 136,566 136,566 136,566 136,566 Class B 993,138 993,138 993,138 993,138 993,138 Class C 516,001 516,001 516,001 516,001 516,001 All Types 1,645,705 1,645,705 1,645,705 1,645,705 1,645,705 Class A 10,176 10,176 11,384 10,211 10,174 Class B 272,210 286,121 297,941 288,690 278,557 Class C 78,190 71,280 72,108 69,183 74,988 All Types 360,576 367,577 381,433 368,084 363,719 Class B 12,207 12,207 12,207 12,207 12,207 All Types 12,207 12,207 12,207 12,207 12,207 Class A 10,176 10,176 11,384 10,211 10,174 Class B 284,417 298,328 310,148 300,897 290,764 Class C 78,190 71,280 72,108 69,183 74,988 All Types 372,783 379,784 393,640 380,291 375,926 Total Occupancy SF 1,272,922 1,265,921 1,252,065 1,265,414 1,269,779 Growth Rate (%) -0.9% -0.4% -0.8% 0.8% 0.3% : Class A 7.5% 7.5% 8.3% 7.5% 7.4% Class B 28.6% 30. 31.2% 30.3% 29.3% Class C 15.2% 13.8% 14. 13.4% 14.5% All Types 22.7% 23.1% 23.9% 23.1% 22.8% (FS/Month) Class A $1.63 $1.63 $1.63 $1.59 $1.58 Class B $1.67 $1.64 $1.57 $1.61 $1.60 Class C $1.47 $1.46 $1.46 $1.36 $1.36 All Types $1.63 $1.61 $1.55 $1.56 $1.55 Gross Absorption 33,224 17,695 7,650 24,228 16,720 Net Absorption -15,048-7,001-13,856 13,349 4,365 YTD Net Absorption -14,660-21,661-13,856-507 3,858 & Asking Rate Trend 3 25% 2 15% 1 5% 20.8% 21.9% 20.9% 20.3% 20.1% 21.8% 21.7% 21.7% 22.7% 23.1% 23.9% 23.1% 22.8%
Folsom Class A 2,051,065 2,051,065 2,051,065 2,051,065 2,051,065 Class B 2,171,415 2,171,415 2,171,415 2,171,415 2,171,415 Class C 537,654 537,654 537,654 537,654 537,654 All Types 4,760,134 4,760,134 4,760,134 4,760,134 4,760,134 Class A 221,957 236,343 226,898 213,748 211,546 Class B 276,251 249,650 226,359 242,315 241,649 Class C 24,301 23,568 25,936 25,385 25,385 All Types 522,509 509,561 479,193 481,448 478,580 Class A 12,520 12,520 12,520 0 0 Class B 32,834 32,834 34,627 20,008 20,008 All Types 45,354 45,354 47,147 20,008 20,008 Class A 234,477 248,863 239,418 213,748 211,546 Class B 309,085 282,484 260,986 262,323 261,657 Class C 24,301 23,568 25,936 25,385 25,385 All Types 567,863 554,915 526,340 501,456 498,588 Total Occupancy SF 4,192,271 4,205,219 4,233,794 4,258,678 4,261,546 Growth Rate (%) 0.9% 0.3% 0.6% 0.5% 0.1% : Class A 11.4% 12.1% 11.7% 10.4% 10.3% Class B 14.2% 13. 12. 12.1% 12.1% Class C 4.5% 4.4% 4.8% 4.7% 4.7% All Types 11.9% 11.7% 11.1% 10.5% 10.5% (FS/Month) Class A $1.99 $1.97 $1.90 $1.90 Class B $1.74 $1.73 $1.66 $1.66 $1.67 Class C $1.56 $1.58 $1.37 $1.47 $1.46 All Types $1.84 $1.84 $1.79 $1.75 $1.76 Gross Absorption 63,338 36,775 56,617 81,905 15,074 Net Absorption 44,957 12,948 28,575 24,884 2,868 YTD Net Absorption 145,089 158,037 28,575 53,459 56,327 & Asking Rate Trend 2 $3.00 16% 8% 4% 14. 14.1% 14.4% 15.8% 14.9% 13.7% 13.6% 12.9% 11.9% 11.7% 11.1% 10.5% 10.5%
Highway 50 / Rancho Cordova Class A 5,161,761 5,161,761 5,161,761 5,161,761 5,161,761 Class B 9,539,144 9,539,144 9,539,144 9,539,144 9,539,144 Class C 2,540,023 2,540,023 2,540,023 2,540,023 2,540,023 All Types 17,240,928 17,240,928 17,240,928 17,240,928 17,240,928 Class A 648,284 611,249 503,776 501,679 406,390 Class B 1,704,441 1,684,030 1,684,899 1,687,835 1,581,346 Class C 578,789 470,654 462,807 458,266 465,516 All Types 2,931,514 2,765,933 2,651,482 2,647,780 2,453,252 Class A 75,416 90,416 90,416 106,615 87,789 Class B 0 0 1,145 1,317 1,317 All Types 75,416 90,416 91,561 107,932 89,106 Class A 723,700 701,665 594,192 608,294 494,179 Class B 1,704,441 1,684,030 1,686,044 1,689,152 1,582,663 Class C 578,789 470,654 462,807 458,266 465,516 All Types 3,006,930 2,856,349 2,743,043 2,755,712 2,542,358 Total Occupancy SF 14,233,998 14,384,579 14,497,885 14,485,216 14,698,570 Growth Rate (%) 0.5% 0.9% 0.7% -0.1% 1.2% : Class A 14. 13.6% 11.5% 11.8% 9.6% Class B 17.9% 17.7% 17.7% 17.7% 16.6% Class C 22.8% 18.5% 18.2% 18. 18.3% All Types 17.4% 16.6% 15.9% 16. 14.7% (FS/Month) Class A $1.81 $1.77 $1.82 $1.82 $1.82 Class B $1.58 $1.57 $1.55 $1.55 $1.54 Class C $1.24 $1.20 $1.20 $1.20 $1.20 All Types $1.57 $1.56 $1.55 $1.55 $1.53 Gross Absorption 163,160 211,740 202,646 142,402 300,621 Net Absorption 175,505 150,581 113,306-12,669 213,354 YTD Net Absorption 53,984 204,565 113,306 100,637 313,991 & Asking Rate Trend 24% 2 16% 8% 14.7% 16.1% 17. 16.8% 15.8% 17.3% 17.8% 18. 17.4% 16.6% 15.9% 16. 14.7% 4%
Howe Ave / Fulton Ave Class A 186,306 186,306 186,306 186,306 186,306 Class B 1,209,625 1,209,625 1,228,250 1,228,250 1,228,250 Class C 1,079,393 1,079,393 1,079,393 1,079,393 1,079,393 All Types 2,475,324 2,475,324 2,493,949 2,493,949 2,493,949 Class A 50,046 50,046 50,046 43,898 43,898 Class B 328,407 321,323 333,916 339,231 337,820 Class C 176,472 194,741 211,683 203,220 190,031 All Types 554,925 566,110 595,645 586,349 571,749 Class B 4,202 4,202 4,202 4,202 4,202 All Types 4,202 4,202 4,202 4,202 4,202 Class A 50,046 50,046 50,046 43,898 43,898 Class B 332,609 325,525 338,118 343,433 342,022 Class C 176,472 194,741 211,683 203,220 190,031 All Types 559,127 570,312 599,847 590,551 575,951 Total Occupancy SF 1,916,197 1,905,012 1,894,102 1,903,398 1,917,998 Growth Rate (%) 0.1% -0.5% -1.2% 0.4% 0.6% : Class A 26.9% 26.9% 26.9% 23.6% 23.6% Class B 27.5% 26.9% 27.5% 28. 27.8% Class C 16.3% 18. 19.6% 18.8% 17.6% All Types 22.6% 23. 24.1% 23.7% 23.1% (FS/Month) Class A $1.75 $1.75 $1.85 $1.85 $1.85 Class B $1.51 $1.54 $1.52 $1.49 $1.51 Class C $1.47 $1.47 $1.54 $1.56 $1.54 All Types $1.52 $1.53 $1.55 $1.54 $1.55 Class B 0 0 18,625 0 0 Total A & B 0 0 18,625 0 0 Gross Absorption 39,178 33,352 39,026 42,273 37,126 Net Absorption 1,855-11,185-10,910 9,296 14,600 YTD Net Absorption 33,384 22,199-10,910-1,614 12,986 & Asking Rate Trend 3 25% 2 15% 1 5% 19.1% 18.8% 22.1% 21.6% 22.2% 23.9% 23.2% 22.7% 22.6% 23. 24.1% 23.7% 23.1%
Midtown Sacramento Class A 571,819 571,819 571,819 571,819 571,819 Class B 1,798,167 1,798,167 1,798,167 1,798,167 1,798,167 Class C 1,259,545 1,259,545 1,259,545 1,259,545 1,259,545 All Types 3,629,531 3,629,531 3,629,531 3,629,531 3,629,531 Class A 7,620 11,245 11,245 16,688 3,625 Class B 160,630 167,850 173,661 170,419 92,436 Class C 129,562 120,137 130,719 141,894 154,233 All Types 297,812 299,232 315,625 329,001 250,294 Class B 3,971 0 0 0 0 All Types 3,971 0 0 0 0 Class A 7,620 11,245 11,245 16,688 3,625 Class B 164,601 167,850 173,661 170,419 92,436 Class C 129,562 120,137 130,719 141,894 154,233 All Types 301,783 299,232 315,625 329,001 250,294 Total Occupancy SF 3,327,748 3,330,299 3,313,906 3,300,530 3,379,237 Growth Rate (%) -0.1% 0.1% -0.5% -0.4% 2.2% : Class A 1.3% 2. 2. 2.9% 0.6% Class B 9.2% 9.3% 9.7% 9.5% 5.1% Class C 10.3% 9.5% 10.4% 11.3% 12.2% All Types 8.3% 8.2% 8.7% 9.1% 6.9% (FS/Month) Class A $2.25 $2.25 $2.25 $2.25 $2.25 Class B $2.01 $2.01 $2.03 $2.01 $2.01 Class C $1.67 $1.67 $1.68 $1.68 $1.66 All Types $1.87 $1.88 $1.89 $1.88 $1.80 Gross Absorption 11,160 14,267 9,280 6,801 102,188 Net Absorption -4,157 2,551-16,393-13,376 78,707 YTD Net Absorption -13,488-10,937-16,393-29,769 48,938 & Asking Rate Trend 1 8% 6% 4% 2% 7.9% 7.5% 8.7% 8.6% 8.7% 7.9% 8.3% 8.2% 8.3% 8.2% 8.7% 9.1% 6.9%
Natomas / Northgate Class A 3,622,022 3,622,022 3,622,022 3,622,022 3,622,022 Class B 1,815,156 1,815,156 1,815,156 1,815,156 1,815,156 Class C 649,621 649,621 649,621 649,621 649,621 All Types 6,086,799 6,086,799 6,086,799 6,086,799 6,086,799 Class A 896,015 897,803 835,698 749,428 753,910 Class B 435,782 434,155 396,729 441,496 418,808 Class C 167,787 192,149 193,228 172,086 172,086 All Types 1,499,584 1,524,107 1,425,655 1,363,010 1,344,804 Class A 0 0 2,219 2,219 2,219 Class B 8,072 6,006 0 0 0 All Types 8,072 6,006 2,219 2,219 2,219 Class A 896,015 897,803 837,917 751,647 756,129 Class B 443,854 440,161 396,729 441,496 418,808 Class C 167,787 192,149 193,228 172,086 172,086 All Types 1,507,656 1,530,113 1,427,874 1,365,229 1,347,023 Total Occupancy SF 4,579,143 4,556,686 4,658,925 4,721,570 4,739,776 Growth Rate (%) 0.6% -0.4% 1.7% 1. 0.3% : Class A 24.7% 24.8% 23.1% 20.8% 20.9% Class B 24.5% 24.2% 21.9% 24.3% 23.1% Class C 25.8% 29.6% 29.7% 26.5% 26.5% All Types 24.8% 25.1% 23.5% 22.4% 22.1% (FS/Month) Class A $1.88 $1.88 $1.90 $1.92 $1.91 Class B $1.55 $1.56 $1.58 $1.61 $1.59 Class C $1.18 $1.11 $1.12 $1.11 $1.13 All Types $1.70 $1.69 $1.71 $1.72 $1.71 Gross Absorption 82,160 50,723 120,296 187,864 64,866 Net Absorption 35,184-22,457 102,239 62,645 18,206 YTD Net Absorption -23,558-46,015 102,239 164,884 183,090 & Asking Rate Trend 3 24% 24.8% 26.2% 25.5% 26. 24.7% 24.4% 25.5% 25.3% 24.8% 25.1% 23.5% 22.4% 22.1% $3.00 18% 6%
Point West Class A 858,620 858,620 858,620 858,620 858,620 Class B 1,173,924 1,173,924 1,173,924 1,173,924 1,173,924 Class C 716,785 716,785 716,785 716,785 716,785 All Types 2,749,329 2,749,329 2,749,329 2,749,329 2,749,329 Class A 317,219 300,339 250,891 247,133 206,283 Class B 361,950 369,548 355,739 355,707 352,741 Class C 91,475 91,186 84,307 89,792 151,936 All Types 770,644 761,073 690,937 692,632 710,960 Class B 17,540 17,540 13,697 13,697 0 All Types 17,540 17,540 13,697 13,697 0 Class A 317,219 300,339 250,891 247,133 206,283 Class B 379,490 387,088 369,436 369,404 352,741 Class C 91,475 91,186 84,307 89,792 151,936 All Types 788,184 778,613 704,634 706,329 710,960 Total Occupancy SF 1,961,145 1,970,716 2,044,695 2,043,000 2,038,369 Growth Rate (%) 1.8% 0.3% 2.7% -0.1% -0.2% : Class A 36.9% 35. 29.2% 28.8% 24. Class B 32.3% 33. 31.5% 31.5% 30. Class C 12.8% 12.7% 11.8% 12.5% 21.2% All Types 28.7% 28.3% 25.6% 25.7% 25.9% (FS/Month) Class A $1.91 $1.91 $1.85 $1.85 $1.85 Class B $1.66 $1.64 $1.66 $1.67 $1.66 Class C $1.02 $0.99 $1.05 $1.06 $1.06 All Types $1.69 $1.67 $1.65 $1.66 $1.59 Gross Absorption 59,622 30,460 93,953 9,741 57,637 Net Absorption 48,988 9,571 73,979-1,695-4,631 YTD Net Absorption 27,513 37,084 73,979 72,284 67,653 & Asking Rate Trend 36% 3 24% 18% 6% 31. 31.4% 26.4% 25. 30. 29.7% 31.3% 30.5% 28.7% 28.3% 25.6% 25.7% 25.9%
Rio Linda / North Highlands Class B 249,982 249,982 249,982 249,982 249,982 Class C 759,098 759,098 759,098 759,098 759,098 All Types 1,009,080 1,009,080 1,009,080 1,009,080 1,009,080 Class B 29,766 29,766 29,766 29,766 29,766 Class C 381,596 294,053 283,927 283,927 283,927 All Types 411,362 323,819 313,693 313,693 313,693 All Types 0 0 0 0 0 Class B 29,766 29,766 29,766 29,766 29,766 Class C 381,596 294,053 283,927 283,927 283,927 All Types 411,362 323,819 313,693 313,693 313,693 Total Occupancy SF 597,718 685,261 695,387 695,387 695,387 Growth Rate (%) 0.7% 8.7% 1. 0. 0. : Class A 0. 0. 0. 0. 0. Class B 11.9% 11.9% 11.9% 11.9% 11.9% Class C 50.3% 38.7% 37.4% 37.4% 37.4% All Types 40.8% 32.1% 31.1% 31.1% 31.1% (FS/Month) Class A Class B $1.53 $1.53 $1.29 $1.41 $1.41 Class C $1.61 $1.61 $1.21 $1.21 $1.21 All Types $1.60 $1.60 $1.22 $1.23 $1.23 Gross Absorption 2,002 87,543 10,174 0 0 Net Absorption 6,602 87,543 10,126 0 0 YTD Net Absorption -5,612 81,931 10,126 10,126 10,126 & Asking Rate Trend 5 4 3 2 1 31.5% 43.3% 39.4% 39.4% 42. 40.2% 40.5% 41.4% 40.8% 32.1% 31.1% 31.1% 31.1%
Roseville / Rocklin Class A 3,232,428 3,232,428 3,232,428 3,232,428 3,285,428 Class B 5,632,446 5,632,446 5,632,446 5,632,446 5,632,446 Class C 1,507,402 1,507,402 1,507,402 1,507,402 1,507,402 All Types 10,372,276 10,372,276 10,372,276 10,372,276 10,425,276 Class A 1,161,516 1,086,603 800,088 758,245 767,049 Class B 1,175,987 971,461 1,185,210 1,153,236 1,088,001 Class C 354,315 290,785 228,282 214,494 208,505 All Types 2,691,818 2,348,849 2,213,580 2,125,975 2,063,555 Class A 8,683 8,683 12,194 6,199 2,688 Class B 2,966 2,966 2,716 1,616 6,153 All Types 11,649 11,649 14,910 7,815 8,841 Class A 1,170,199 1,095,286 812,282 764,444 769,737 Class B 1,178,953 974,427 1,187,926 1,154,852 1,094,154 Class C 354,315 290,785 228,282 214,494 208,505 All Types 2,703,467 2,360,498 2,228,490 2,133,790 2,072,396 Total Occupancy SF 7,668,809 8,011,778 8,143,786 8,238,486 8,352,880 Growth Rate (%) 0.6% 3.3% 1.3% 0.9% 0.6% : Class A 36.2% 33.9% 25.1% 23.6% 23.4% Class B 20.9% 17.3% 21.1% 20.5% 19.4% Class C 23.5% 19.3% 15.1% 14.2% 13.8% All Types 26.1% 22.8% 21.5% 20.6% 19.9% (FS/Month) Class A $1.77 $1.76 $1.75 $1.73 $1.71 Class B $1.76 $1.63 $1.63 $1.60 $1.60 Class C $1.26 $1.26 $1.28 $1.22 $1.22 All Types $1.70 $1.64 $1.64 $1.61 $1.60 Class A 0 0 0 0 53,000 Total A & B 0 0 0 0 53,000 Gross Absorption 155,212 331,137 512,709 258,755 226,069 Net Absorption 61,768 342,969 132,008 94,700 114,394 YTD Net Absorption 164,382 507,351 132,008 226,708 341,102 & Asking Rate Trend 36% 3 24% 18% 6% 29.8% 29.1% 30.4% 29.6% 29.2% 27.6% 26.8% 26.7% 26.1% 22.8% 21.5% 20.6% 19.9%
South Sacramento Class A 48,108 153,219 283,219 283,219 283,219 Class B 2,020,449 2,020,449 2,020,449 2,020,449 2,020,449 Class C 1,980,691 1,980,691 1,980,691 1,980,691 1,980,691 All Types 4,049,248 4,154,359 4,284,359 4,284,359 4,284,359 Class A 18,385 16,040 16,040 0 0 Class B 257,177 254,590 242,729 246,816 240,336 Class C 335,909 341,042 344,384 316,830 249,314 All Types 611,471 611,672 603,153 563,646 489,650 All Types 0 0 0 0 0 Class A 18,385 16,040 16,040 0 0 Class B 257,177 254,590 242,729 246,816 240,336 Class C 335,909 341,042 344,384 316,830 249,314 All Types 611,471 611,672 603,153 563,646 489,650 Total Occupancy SF 3,437,777 3,542,687 3,681,206 3,720,713 3,794,709 Growth Rate (%) 2.6% 0. 0.2% 0.9% 1.7% : Class A 38.2% 10.5% 5.7% 0. 0. Class B 12.7% 12.6% 12. 12.2% 11.9% Class C 17. 17.2% 17.4% 16. 12.6% All Types 15.1% 14.7% 14.1% 13.2% 11.4% (FS/Month) Class A $1.73 $1.73 $1.73 $1.89 $1.88 Class B $1.79 $1.72 $1.70 $1.68 $1.68 Class C $1.24 $1.24 $1.23 $1.24 $1.23 All Types $1.49 $1.45 $1.43 $1.43 $1.45 Class A 0 105,111 130,000 0 0 Total A & B 0 105,111 130,000 0 0 Gross Absorption 128,588 235,621 33,641 49,882 165,066 Net Absorption 106,790 104,910 138,519 39,507 73,996 YTD Net Absorption 201,427 306,337 138,519 178,026 252,022 & Asking Rate Trend 25% 2 15% 1 5% 17.7% 17.6% 16.8% 17.9% 19.4% 20.1% 18.7% 17.7% 15.1% 14.7% 14.1% 13.2% 11.4%
Watt Ave Class B 988,608 988,608 988,608 988,608 988,608 Class C 1,447,309 1,447,309 1,447,309 1,447,309 1,447,309 All Types 2,435,917 2,435,917 2,435,917 2,435,917 2,435,917 Class B 68,364 68,364 71,828 73,214 69,759 Class C 277,401 276,397 278,137 242,353 240,684 All Types 345,765 344,761 349,965 315,567 310,443 Class C 0 0 2,903 2,903 1,891 All Types 0 0 2,903 2,903 1,891 Class B 68,364 68,364 71,828 73,214 69,759 Class C 277,401 276,397 281,040 245,256 242,575 All Types 345,765 344,761 352,868 318,470 312,334 Total Occupancy SF 2,090,152 2,091,156 2,083,049 2,117,447 2,123,583 Growth Rate (%) 0.2% 0. -0.3% 1.4% 0.3% : Class A 0. 0. 0. 0. 0. Class B 6.9% 6.9% 7.3% 7.4% 7.1% Class C 19.2% 19.1% 19.4% 16.9% 16.8% All Types 14.2% 14.2% 14.5% 13.1% 12.8% (FS/Month) Class A Class B $1.73 $1.76 $1.68 $1.66 $1.68 Class C $1.18 $1.18 $1.18 $1.18 $1.21 All Types $1.29 $1.30 $1.28 $1.29 $1.31 Gross Absorption 24,571 4,787 207 9,786 9,497 Net Absorption 5,519 1,004-8,107 34,398 6,136 YTD Net Absorption -2,555-1,551-8,107 26,291 32,427 & Asking Rate Trend 18% 6% 11.2% 11.4% 14.9% 15.2% 14.2% 14.1% 14.6% 14.4% 14.2% 14.2% 14.5% 13.1% 12.8%
West Sacramento Class A 833,792 833,792 833,792 833,792 833,792 Class B 732,251 732,251 732,251 732,251 732,251 Class C 417,093 417,093 417,093 417,093 417,093 All Types 1,983,136 1,983,136 1,983,136 1,983,136 1,983,136 Class A 0 23,784 23,784 23,784 23,784 Class B 163,298 166,457 166,457 129,532 129,532 Class C 38,439 38,439 38,439 36,739 36,739 All Types 201,737 228,680 228,680 190,055 190,055 Class A 0 0 9,949 9,949 9,949 All Types 0 0 9,949 9,949 9,949 Class A 0 23,784 33,733 33,733 33,733 Class B 163,298 166,457 166,457 129,532 129,532 Class C 38,439 38,439 38,439 36,739 36,739 All Types 201,737 228,680 238,629 200,004 200,004 Total Occupancy SF 1,781,399 1,754,456 1,744,507 1,783,132 1,783,132 Growth Rate (%) 0. -1.4% -0.5% 1.9% 0. : Class A 0. 2.9% 4. 4. 4. Class B 22.3% 22.7% 22.7% 17.7% 17.7% Class C 9.2% 9.2% 9.2% 8.8% 8.8% All Types 10.2% 11.5% 12. 10.1% 10.1% (FS/Month) Class A $1.75 $1.70 $1.70 $1.70 Class B $1.74 $1.73 $1.73 $1.73 $1.73 Class C $1.48 $1.47 $1.47 $1.47 $1.48 All Types $1.69 $1.69 $1.68 $1.68 $1.68 Gross Absorption 180 0 0 38,625 0 Net Absorption 192-26,943-9,949 38,625 0 YTD Net Absorption -5,877-32,820-9,949 28,676 28,676 & Asking Rate Trend 25% 2 15% 1 5% 19.9% 10. 10.3% 10.3% 9.9% 9.9% 9.9% 10.2% 10.2% 11.5% 12. 10.1% 10.1%
Sacramento Valley Office Report 70 49 80 5 Woodland 505 1 Winters 80 Davis 99 Citrus Rio Linda 2 Heights Orangevale North 12 Folsom Highlands Fair Oaks 80 Arcade Carmichael Arden Rancho 10 4 5 Cordova West Sacramento SACRAMENTO 9 3 6 7 Parkway Florin 99 Laguna West Elk Grove 13 Roseville 8 65 14 Lincoln Loomis New Castle Rocklin 50 Auburn El Dorado Hills 11 1 2 3 LEGEND Davis/Woodland Natomas/Northgate West Sacramento 4 Downtown Placerville 5 East SacramentoCamino 6 South Sacramento Shingle 7 Power Inn Springs 8 Elk Grove/Laguna 9 Mather 49 10 Sunrise 11 Folsom/El Dorado Hills Plymouth 12 McClellan 13 Roseville/Rocklin 14 Auburn/New Castle 88 Vacaville Definitions 5 Report Published By: Cassidy Turley Sacramento 520 Capitol Mall Suite 500 Sacramento, CA 95814 Tel 916 375 1500 Fax 916 376 8840 Class A Product Steel and concrete construction, built after 1980, quality tenants, excellent amenities & premium rents. Class B Product Built after 1960, fair to good finishes & wide range of tenants. Total Building Base Includes Class A, Class B, Class C and Suburban Garden Office buildings over 10,000 square feet. Direct Availabilities Total square footage being marketed for lease by landlord available within 90 days. This may include availabilities with pending leases. Sublease Availabilities Total square footage being marketed for lease by sublessor. Total available square footage (direct & sublease) divided by Total Building Base. BTS (Build-to-Suit) A method of leasing property whereby the landlord builds to suit the tenant (according to tenant s specifications). The cost of construction is figured into the rental amount of the lease, which is usually for a long term. New Spec (Speculative) A building constructed for lease or sale but without having a tenant or buyer before construction begins. Gross Absorption Total leasing and user sale activity in the marketplace in a given time period. Net Absorption Change in occupied building square footage in a given time period. Weighted Average Full Service Rate (by available square footage) of available spaces with NNN and Gross rates converted to Full Service rates. Avg. Time on Market Weighted Average Time on market (by available square footage) of available spaces reflected in months. Availables by Size Number of current available spaces for lease in the given size. Historical Continuity Cassidy Turley maintains a building by building historical record. Comparing previous reports to this report may show different building size numbers and statistics. Changes are caused by reclassification of buildings and revised building sizes. Historical comparisons should be made from this report only as Cassidy Turley adjusts the historical record accordingly. Source Data is tracked and tallied from information provided by The Costar Group. Disclaimer: The information contained herein while not guaranteed has been secured by sources we deem reliable. All information should be verified prior to lease or sale.