Office Report City, State Year Sacramento Valley First Quarter 2014 Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael, Santa Rosa, Walnut Creek Broker Lic #00825241
SACRAMENTO Office Market Snapshot First Quarter 2014 SACRAMENTO OFFICE Economics Indicators Q1 14 Q1 13 Sacramento Employment 959,400 952,100 Sacramento Unemployment 8.1% 9.1% U.S. Unemployment 6.7% 7.5% Market Indicators Q1 14 Q1 13 Overall 15.2% 15.9% Net Absorption SF 175K 125K Under Construction SF 32K 18K Average Asking Rent (FS) $1.63 $1.64 Net Absorption/Asking Rent (Full Service) 4Q TRAILING AVERAGE 2 1.5 1 0.5 0-0.5 4Q Trailing Net Abs.(MSF) -1 Avg Asking (FS) -1.5 2010 2011 2012 2013 Overall 18% 16% 14% 12% Historical Average = 16.7% 8% 6% 4% 2010 2011 2012 2013 12-Month Forecast 12-Month Forecast $3.00 $2.50 $1.50 $1.00 $0.50 Office Declines Further The Sacramento office market experienced a positive start to 2014, continuing the trend of declining vacancy and occupancy growth that has been in place for the last two years. Regional vacancy fell to 15.2%, which is one of the lowest, post-recession vacancy rates the area has seen. Q1 also marks the third consecutive quarter of occupancy growth in excess of 100,000 square feet, as it recorded 176,000 square feet of positive net absorption. The private sector continues to be a large driver of office growth in the region. Healthcare remains a big source of this demand companies like Sutter Health and Dignity Health continue to expand and sign leases (though not quite as large as the few signed last year), and Q1 saw Covered California sign a lease for 123,000 square feet in Point West. The financial services, legal and tech sectors all continue to be in demand as well. In fact, the second largest lease of the quarter was signed by tech company Quest Supplies for a 120,000 square foot data center in Roseville. Though Q1 saw a steady amount of leasing activity, gross absorption figures suggest that activity on the whole has eased up slightly. Since Q1 2011, the office market has typically averaged around 1.1 million square feet of gross absorption per quarter. However, the current and previous quarters both recorded less than one million square feet of total deal activity, with Q1 recording only 691,000 square feet. This lower amount of gross absorption is most likely due to the fact that the office market is not seeing as many large deals. Only two deals were signed this quarter in excess of 100,000 square feet. The majority of leasing activity has been focused on deals under 50,000 square feet, the bulk of which falls between 1,000 and 10,000 square feet. So while demand and leasing activity are still going strong, the size of the deals being done are not translating to the same gross absorption figures seen in previous quarters. Occupancy growth across the region s submarkets was mostly positive during Q1, with 12 of the region s 19 submarkets seeing positive growth totals. However, the majority of these growth totals
SACRAMENTO Office Market Snapshot First Quarter 2014 were below the 20,000 square foot mark, with only a few exceptions. The Roseville/Rocklin submarket was the biggest winner of the quarter, recording 106,000 square feet of occupancy growth. in this trade area fell from 20.3% to 19.2% during Q1, which is the lowest, post-recession vacancy rate this area has seen. During the recession, vacancy here peaked at 30.7% during Q2 2009. Other submarkets that recorded growth just over 20,000 square feet include Highway 50/Rancho Cordova and Downtown. Though the Sacramento office market has continued to post Full Service Average Asking Rate by Submarket (Full Service) DOWNTOWN REMAINS HIGHEST RENT IN TOWN $3.00 $2.50 $1.50 $1.00 $0.50 $2.07 $1.76 $1.76 $1.71 $1.70 $1.69 $1.68 $1.68 $1.67 $1.65 $1.57 $1.52 $1.51 $1.46 $1.43 $1.40 $1.37 $1.36 $1.13 DT CC FOL MID NAT ES DW WS PW RR RLNH HF H50 EDH AL CHO WTT SS CFO Rental rate growth is likely off the table until vacancy declines even further... Availabilities by Size Segment 0-10,000 SF SPACES IN DEMAND declining vacancy over the past couple of years, it still has quite a way to go before it approaches equilibrium. Average asking rental rates have remained unchanged for three consecutive quarters, remaining at $1.63 per square foot, on a monthly, fullservice basis, and they have fluctuated between $1.63 and $1.65 for the last two years. But rental rate growth is off the table until vacancy declines even further. Outside of a few exceptional projects, we don't expect any significant upward movement in rates until vacancy moves closer to. The leases from Covered California and Quest Supplies will help drive vacancy down even further, but expect small, incremental declines in vacancy to be the norm for the coming year. 603 332 192 2,885 Listings 1,758 Average Asking Rate by Class (Full Service) RENTAL RATES REMAIN STAGNANT 0-5K 5-10K 10-20K 20K+ Outlook $3.00 $3.00 falls to 15.2% - the lowest post-recession rate the region has seen. $2.50 $2.50 Demand and activity are still going strong, though the size of leases signed are not as large as they have been in previous quarters. Class A $1.50 $1.00 $1.50 $1.00 Class B will continue to fall, but only in small increments. Rental rates remain stagnant. Recovery continues, but progress is slow. $0.50 2009 2010 2011 2012 2013 $0.50 2
SACRAMENTO Office Market Snapshot First Quarter 2014 Cassidy Turley Office Market Snapshot Sacramento First Quarter 2014 TOTAL BLDGS INVENTORY SUBLET VACANT DIRECT VACANT VACANCY RATE CURRENT NET ABSORPTION YTD NET ABSORPTION UNDER CONSTRUCTION AVERAGE ASKING RENT (ALL Classes) AVERAGE ASKING RENT (CLASS A) Submarket Downtown Sacramento 216 18,594,922 29,143 2,123,628 11.6% 39,149 39,149 0 $2.07 $2.59 Auburn / Lincoln 65 1,379,776 0 211,899 15.4% 4,775 4,775 0 $1.43 N/A Campus Commons 41 1,221,147 0 264,969 21.7% (13,067) (13,067) 0 $1.73 N/A Carmichael / Fair Oaks 45 969,245 0 93,898 9.7% (17,708) (17,708) 0 $1.13 N/A Citrus Heights / Orangevale 51 1,419,585 0 189,822 13.4% (8,825) (8,825) 0 $1.40 N/A Davis / Woodland 78 1,982,646 1,103 151,133 7.7% 11,100 11,100 0 $1.68 $2.10 East Sacramento 32 1,840,496 0 241,781 13.1% 2,509 2,509 0 $1.69 N/A El Dorado Hills 71 1,646,430 12,207 344,135 21.6% 9,075 9,075 0 $1.46 $1.62 Folsom 102 4,766,113 19,618 501,046 10.9% 15,832 15,832 0 $1.76 $1.93 Highway 50 / Rancho Cordova 297 17,234,479 87,789 2,425,878 14.6% 40,150 40,150 0 $1.51 $1.78 Howe Ave / Fulton Ave 78 2,458,939 0 616,965 25.1% (44,469) (44,469) 0 $1.52 $1.85 Midtown Sacramento 100 3,585,804 0 257,576 7.2% (4,872) (4,872) 0 $1.71 $2.28 Natomas / Northgate 110 6,405,899 0 1,343,092 21. (8,147) (8,147) 0 $1.70 $1.89 Point West 50 2,713,040 13,697 718,796 27. 20,896 20,896 19,761 $1.67 $1.85 Rio Linda / North Highlands 29 1,009,080 0 314,951 31.2% (1,258) (1,258) 0 $1.57 N/A Roseville / Rocklin 260 10,376,652 6,296 1,990,652 19.2% 106,366 106,366 0 $1.65 $1.81 South Sacramento 97 3,032,464 0 436,727 14.4% 11,582 11,582 12,576 $1.36 N/A Watt Ave 49 2,320,627 1,891 292,631 12.7% 11,429 11,429 0 $1.37 N/A West Sacramento 36 1,983,136 21,272 188,978 10.6% 1,321 1,321 0 $1.68 $1.72 Office Class Breakdown Class A 187 25,958,495 126,837 3,322,406 13.3% 75,592 75,592 0 $2.04 Class B 871 38,962,488 64,288 6,325,806 16.4% 84,701 84,701 0 $1.63 TOTAL 1,807 84,940,392 193,016 12,708,197 15.2% 175,838 175,838 32,337 $1.63 $2.04 Key Lease Transactions Q1 14 PROPERTY SF TENANT LANDLORD TRANSACTION TYPE SUBMARKET 1601 Exposition Blvd 132,408 Covered California CW Capital New Lease Point West 9000 Foothills Blvd 120,000 Quest Supplies Cokeva, Inc. New Lease Roseville/Rocklin 6030 W Oaks Blvd 52,500 Liberty Mutual Insurance Company Opus New Lease Roseville/Rocklin Key Investment Sale Transactions Q1 14 PROPERTY SF BUYER SELLER SALE PRICE SUBMARKET 2288 Auburn Blvd 51,300 Omni Medical Massie & Co. $10,133,000 Watt Ave 1500 Exposition Pkwy 34,717 Sutter Health Radiological Associates of Sacramento $6,000,000 Point West 2 Scripps Dr 34,500 Berger Family Trust Massie & Co. $5,100,000 Campus Commons Bold Text = Cassidy Turley Transaction 3
SACRAMENTO Office Market Snapshot First Quarter 2014 Office Submarkets Sacramento About Cassidy Turley Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters 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 $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 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 5th Floor Sacramento, CA 95814 Tel: 916.375.1500 Fax: 916.376.8840 Managing Editor: Garrick Brown Director of Research Garrick.Brown@cassidyturley.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 2014 Cassidy Turley. All rights reserved. 4
Market Summary Submarket Building Vacant Space Rate Avg. Asking Sq.Ft. Direct Sublease Total Q1-14 Q1-13 (FS) Downtown Sacramento 18,594,922 2,123,268 29,143 2,152,411 11.6% 11.8% $2.07 Auburn / Lincoln 1,379,776 211,899 0 211,899 15.4% 15.7% $1.43 Campus Commons 1,221,147 264,969 0 264,969 21.7% 20.6% $1.76 Carmichael / Fair Oaks 969,245 93,898 0 93,898 9.7% 7.9% $1.13 Citrus Heights / Orangevale 1,419,585 189,822 0 189,822 13.4% 12.7% $1.40 Davis / Woodland 1,982,646 151,133 1,103 152,236 7.7% 8.2% $1.68 East Sacramento 1,840,496 241,781 0 241,781 13.1% 13.3% $1.69 El Dorado Hills 1,646,430 344,135 12,207 356,342 21.6% 22.2% $1.46 Folsom 4,766,113 501,046 19,618 520,664 10.9% 11.3% $1.76 Highway 50 / Rancho Cordova 17,234,479 2,425,878 87,789 2,513,667 14.6% 14.8% $1.51 Howe Ave / Fulton Ave 2,458,939 616,965 0 616,965 25.1% 23.3% $1.52 Midtown Sacramento 3,585,804 257,576 0 257,576 7.2% 7. $1.71 Natomas / Northgate 6,405,899 1,343,092 0 1,343,092 21. 20.8% $1.70 Point West 2,713,040 718,796 13,697 732,493 27. 27.2% $1.67 Rio Linda / North Highlands 1,009,080 314,951 0 314,951 31.2% 31.1% $1.57 Roseville / Rocklin 10,376,564 1,990,652 6,296 1,996,948 19.2% 20.3% $1.65 South Sacramento 3,032,464 436,727 0 436,727 14.4% 14.4% $1.36 Watt Ave 2,320,627 292,631 1,891 294,522 12.7% 13.2% $1.37 West Sacramento 1,983,136 188,978 21,272 210,250 10.6% 10.7% $1.68 Totals 84,940,392 12,708,197 193,016 12,901,213 15.2% 15.4% $1.63 Rate by Area 45% 4 35% 3 25% 15% 5% Q1-14 Q1-13 Average Asking Rate by Area (FS) $2.50 $1.50 $1.00 $0.50
Total Market Class A 25,907,326 25,907,326 25,958,495 25,958,495 25,958,495 Class B 38,913,151 38,913,151 38,955,151 38,930,151 38,962,488 Class C 20,019,409 20,019,409 20,019,409 20,019,409 20,019,409 Total Building Base 84,839,886 84,839,886 84,933,055 84,908,055 84,940,392 Class A 3,728,372 3,641,582 3,483,581 3,396,407 3,322,406 Class B 6,309,258 6,563,866 6,424,170 6,380,750 6,325,806 Class C 3,188,321 3,051,789 3,149,496 3,065,089 3,059,985 Total Building Base 13,225,951 13,257,237 13,057,247 12,842,246 12,708,197 Class A 174,617 168,652 129,344 128,428 126,837 Class B 90,224 74,677 79,214 72,149 64,288 Class C 5,455 2,903 1,891 1,891 1,891 Total Building Base 270,296 246,232 210,449 202,468 193,016 Class A 3,902,989 3,810,234 3,612,925 3,524,835 3,449,243 Class B 6,399,482 6,638,543 6,503,384 6,452,899 6,390,094 Class C 3,193,776 3,054,692 3,151,387 3,066,980 3,061,876 All Types 13,496,247 13,503,469 13,267,696 13,044,714 12,901,213 Total Occupancy SF 71,343,639 71,336,417 71,665,359 71,863,341 72,039,179 Growth Rate (%) 0.1% 0. 0.3% 0.3% 0.2% Class A 15.1% 14.7% 13.9% 13.6% 13.3% Class B 16.4% 17.1% 16.7% 16.6% 16.4% Class C 16. 15.3% 15.7% 15.3% 15.3% All Types 15.9% 15.9% 15.6% 15.4% 15.2% Class A $2.05 $2.05 $2.05 $2.04 $2.04 Class B $1.64 $1.63 $1.63 $1.64 $1.63 Class C $1.16 $1.14 $1.16 $1.16 $1.17 All Types $1.64 $1.64 $1.63 $1.63 $1.63 Class A 0 0 51,169 0 0 Class B 18,625 0 42,000 0 32,337 Total A & B 18,625 0 93,169 0 32,337 Gross Absorption 1,257,027 1,087,577 1,258,164 834,611 690,826 Net Absorption 125,822-7,222 328,942 197,982 175,838 YTD Net Absorption 125,822 118,600 447,542 645,524 175,838 16% 17.6% 17.6% 17.6% 17.7% 17.7% 17.5% 17.1% 16. 15.9% 15.9% 15.6% 15.4% 15.2% 12%
Downtown Sacramento Class A 9,075,984 9,075,984 9,075,984 9,075,984 9,075,984 Class B 5,680,177 5,680,177 5,680,177 5,680,177 5,680,177 Class C 3,838,761 3,838,761 3,838,761 3,838,761 3,838,761 All Types 18,594,922 18,594,922 18,594,922 18,594,922 18,594,922 Class A 979,520 1,015,322 1,020,638 913,623 894,889 Class B 745,047 710,034 840,458 863,837 839,772 Class C 418,669 398,600 403,819 382,726 388,607 All Types 2,143,236 2,123,956 2,264,915 2,160,186 2,123,268 Class A 47,319 32,347 15,376 15,376 15,376 Class B 19,352 19,352 19,352 15,998 13,767 All Types 66,671 51,699 34,728 31,374 29,143 Class A 1,026,839 1,047,669 1,036,014 928,999 910,265 Class B 764,399 729,386 859,810 879,835 853,539 Class C 418,669 398,600 403,819 382,726 388,607 All Types 2,209,907 2,175,655 2,299,643 2,191,560 2,152,411 Total Occupancy SF 16,385,015 16,419,267 16,295,279 16,403,362 16,442,511 Growth Rate (%) -1.6% 0.2% -0.7% 0.6% 0.2% Class A 11.3% 11.5% 11.4% 10.2% 10. Class B 13.5% 12.8% 15.1% 15.5% 15. Class C 10.9% 10.4% 10.5% 10. 10.1% All Types 11.9% 11.7% 12.4% 11.8% 11.6% Class A $2.64 $2.62 $2.63 $2.62 $2.59 Class B $1.77 $1.79 $1.80 $1.82 $1.82 Class C $1.38 $1.38 $1.38 $1.39 $1.38 All Types $2.10 $2.11 $2.10 $2.08 $2.07 Gross Absorption 68,585 123,097 143,424 183,782 151,141 Net Absorption -289,876 34,252-123,988 108,083 39,149 YTD Net Absorption -289,876-255,624-379,612-271,529 39,149 13% 13% 12% 12% 11% 11% 9% 12.4% 11.9% 11.7% 11.8% 11.6% 11.3% 10.8% 10.9% 10.5% 10.6% 10.5% 10.5% 10.3% $2.50 $1.50 $1.00 $0.50
Auburn / Lincoln Class B 648,066 648,066 648,066 648,066 648,066 Class C 731,710 731,710 731,710 731,710 731,710 All Types 1,379,776 1,379,776 1,379,776 1,379,776 1,379,776 Class B 127,456 125,568 129,663 134,995 131,179 Class C 89,424 100,120 98,852 81,679 80,720 All Types 216,880 225,688 228,515 216,674 211,899 Class C 2,552 0 0 0 0 All Types 2,552 0 0 0 0 Class B 127,456 125,568 129,663 134,995 131,179 Class C 91,976 100,120 98,852 81,679 80,720 All Types 219,432 225,688 228,515 216,674 211,899 Total Occupancy SF 1,160,344 1,154,088 1,151,261 1,163,102 1,167,877 Growth Rate (%) -0.9% -0.5% -0.2% 0.9% 0.3% Class A 0. 0. 0. 0. 0. Class B 19.7% 19.4% 20. 20.8% 20.2% Class C 12.6% 13.7% 13.5% 11.2% 11. All Types 15.9% 16.4% 16.6% 15.7% 15.4% Class A Class B $1.63 $1.64 $1.63 $1.64 $1.64 Class C $1.09 $1.08 $1.08 $1.09 $1.08 All Types $1.40 $1.39 $1.39 $1.43 $1.43 Gross Absorption 6,470 14,966 1,268 25,217 13,801 Net Absorption -12,042-6,256-2,827 11,841 4,775 YTD Net Absorption -12,042-18,298-21,125-9,284 4,775 16% 12% 12.1% 11.7% 12.3% 12.5% 12.2% 13.2% 15.2% 15. 15.9% 16.4% 16.6% 15.7% 15.4% 8% 4%
Campus Commons Class B 1,052,570 1,052,570 1,052,570 1,052,570 1,052,570 Class C 168,577 168,577 168,577 168,577 168,577 All Types 1,221,147 1,221,147 1,221,147 1,221,147 1,221,147 Class B 257,251 232,978 229,254 223,997 237,064 Class C 28,019 26,346 25,995 27,905 27,905 All Types 285,270 259,324 255,249 251,902 264,969 All Types 0 0 0 0 0 Class B 257,251 232,978 229,254 223,997 237,064 Class C 28,019 26,346 25,995 27,905 27,905 All Types 285,270 259,324 255,249 251,902 264,969 Total Occupancy SF 935,877 961,823 965,898 969,245 956,178 Growth Rate (%) 0. 2.1% 0.3% 0.3% -1.1% Class A 0. 0. 0. 0. 0. Class B 24.4% 22.1% 21.8% 21.3% 22.5% Class C 16.6% 15.6% 15.4% 16.6% 16.6% All Types 23.4% 21.2% 20.9% 20.6% 21.7% Class A Class B $1.72 $1.73 $1.74 $1.74 $1.77 Class C $1.61 $1.62 $1.64 $1.64 $1.68 All Types $1.71 $1.72 $1.73 $1.73 $1.76 Gross Absorption 5,815 35,725 11,599 13,585 2,251 Net Absorption -114 25,946 4,075 3,347-13,067 YTD Net Absorption -114 25,832 29,907 33,254-13,067 3 25% 15% 5% 22.3% 23.8% 23.4% 23.4% 23.9% 24.8% 23.5% 23.4% 23.4% 21.2% 20.9% 20.6% 21.7% $1.80 $1.40 $1.00 $0.60 $0.20
Carmichael / Fair Oaks Class B 437,190 437,190 437,190 412,190 412,190 Class C 557,055 557,055 557,055 557,055 557,055 All Types 994,245 994,245 994,245 969,245 969,245 Class B 40,628 40,628 61,656 17,371 26,229 Class C 73,100 79,932 73,460 58,819 67,669 All Types 113,728 120,560 135,116 76,190 93,898 All Types 0 0 0 0 0 Class B 40,628 40,628 61,656 17,371 26,229 Class C 73,100 79,932 73,460 58,819 67,669 All Types 113,728 120,560 135,116 76,190 93,898 Total Occupancy SF 880,517 873,685 859,129 893,055 875,347 Growth Rate (%) 1.7% -0.7% -1.5% 6.1% -1.8% Class A 0. 0. 0. 0. 0. Class B 9.3% 9.3% 14.1% 4.2% 6.4% Class C 13.1% 14.3% 13.2% 10.6% 12.1% All Types 11.4% 12.1% 13.6% 7.9% 9.7% Class A Class B $1.04 $1.28 $1.35 $1.28 $1.30 Class C $1.06 $1.03 $1.02 $1.08 $1.06 All Types $1.05 $1.11 $1.17 $1.13 $1.13 Gross Absorption 37,050 10,818 15,787 37,428 700 Net Absorption 16,789-6,832-14,556 33,926-17,708 YTD Net Absorption 16,789 9,957-4,599 29,327-17,708 16% 12% 8% 11.9% 12.6% 13.4% 15.4% 15.3% 15. 14.1% 13.1% 11.4% 12.1% 13.6% 7.9% 9.7% 4%
Citrus Heights / Orangevale Class A 79,163 79,163 79,163 79,163 79,163 Class B 557,340 557,340 557,340 557,340 557,340 Class C 783,082 783,082 783,082 783,082 783,082 All Types 1,419,585 1,419,585 1,419,585 1,419,585 1,419,585 Class B 99,477 105,991 99,953 89,661 95,450 Class C 100,294 96,230 86,837 91,336 94,372 All Types 199,771 202,221 186,790 180,997 189,822 All Types 0 0 0 0 0 Class B 99,477 105,991 99,953 89,661 95,450 Class C 100,294 96,230 86,837 91,336 94,372 All Types 199,771 202,221 186,790 180,997 189,822 Total Occupancy SF 1,219,814 1,217,364 1,232,795 1,238,588 1,229,763 Growth Rate (%) -0.5% -0.2% 1.1% 0.4% -0.6% Class A 0. 0. 0. 0. 0. Class B 17.8% 19. 17.9% 16.1% 17.1% Class C 12.8% 12.3% 11.1% 11.7% 12.1% All Types 14.1% 14.2% 13.2% 12.7% 13.4% Class A Class B $1.62 $1.61 $1.73 $1.73 Class C $1.06 $1.13 $1.11 $1.10 $1.06 All Types $1.33 $1.39 $1.38 $1.41 $1.40 Gross Absorption 20,482 10,478 16,813 21,154 6,425 Net Absorption -7,377-2,450 15,431 5,793-8,825 YTD Net Absorption -7,377-9,827 5,604 11,397-8,825 24% 16% 18.2% 18.4% 19.1% 17.9% 15.9% 15.2% 14.7% 13.6% 14.1% 14.2% 13.2% 12.7% 13.4% 12% 8% 4%
Davis / Woodland Class A 98,000 98,000 98,000 98,000 98,000 Class B 978,527 978,527 1,020,527 1,020,527 1,020,527 Class C 864,119 864,119 864,119 864,119 864,119 All Types 1,940,646 1,940,646 1,982,646 1,982,646 1,982,646 Class A 22,574 22,574 22,574 22,574 23,438 Class B 117,591 105,971 100,469 106,463 96,184 Class C 55,342 41,317 46,217 33,196 31,511 All Types 195,507 169,862 169,260 162,233 151,133 Class B 2,278 2,278 2,278 1,103 1,103 All Types 2,278 2,278 2,278 1,103 1,103 Class A 22,574 22,574 22,574 22,574 23,438 Class B 119,869 108,249 102,747 107,566 97,287 Class C 55,342 41,317 46,217 33,196 31,511 All Types 197,785 172,140 171,538 163,336 152,236 Total Occupancy SF 1,742,861 1,768,506 1,811,108 1,819,310 1,830,410 Growth Rate (%) 0.9% 1.3% 0. 0.4% 0.6% Class A 23. 23. 23. 23. 23.9% Class B 12.2% 11.1% 10.1% 10.5% 9.5% Class C 6.4% 4.8% 5.3% 3.8% 3.6% All Types 10.2% 8.9% 8.7% 8.2% 7.7% Class A $2.10 $2.10 $2.10 $2.10 $2.10 Class B $1.69 $1.69 $1.70 $1.66 $1.64 Class C $1.49 $1.49 $1.43 $1.53 $1.51 All Types $1.68 $1.70 $1.68 $1.69 $1.68 Class B 0 0 42,000 0 0 Total A & B 0 0 42,000 0 0 Gross Absorption 30,106 41,952 49,060 23,647 23,591 Net Absorption 16,698 25,645 42,602 8,202 11,100 YTD Net Absorption 16,698 42,343 84,945 93,147 11,100 14% 12.4% 12.4% 12.2% 12.6% 11.1% 11. 11.4% 12% 11.1% 10.2% 8.9% 8.7% 8% 8.2% 7.7% 6% 4% 2% $1.95 $1.90 $1.85 $1.80 $1.75 $1.70 $1.65 $1.55
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 165,278 165,278 169,145 168,281 168,989 Class C 76,463 76,463 77,561 76,009 72,792 All Types 241,741 241,741 246,706 244,290 241,781 All Types 0 0 0 0 0 Class B 165,278 165,278 169,145 168,281 168,989 Class C 76,463 76,463 77,561 76,009 72,792 All Types 241,741 241,741 246,706 244,290 241,781 Total Occupancy SF 1,598,755 1,598,755 1,593,790 1,596,206 1,598,715 Growth Rate (%) -0.1% 0. -0.3% 0.1% 0.1% Class A 0. 0. 0. 0. 0. Class B 11. 11. 11.3% 11.2% 11.3% Class C 22.5% 22.5% 22.8% 22.3% 21.4% All Types 13.1% 13.1% 13.4% 13.3% 13.1% Class A Class B $2.01 $2.01 $2.01 $2.01 $2.03 Class C $1.19 $1.17 $0.94 $0.94 $0.89 All Types $1.75 $1.74 $1.67 $1.68 $1.69 Gross Absorption 2,320 0 2,102 9,143 5,867 Net Absorption -1,183 0-4,965 2,416 2,509 YTD Net Absorption -1,183-1,183-6,148-3,732 2,509 $2.50 16% 15.5% 14.6% 13.8% 13.7% 13.1% 13.1% 13.1% 13.4% 13.3% 13.1% 12% 10. 10.2% 10.3% $1.50 8% $1.00 4% $0.50
El Dorado Hills Class A 136,566 136,566 136,566 136,566 136,566 Class B 993,863 993,863 993,863 993,863 993,863 Class C 516,001 516,001 516,001 516,001 516,001 All Types 1,646,430 1,646,430 1,646,430 1,646,430 1,646,430 Class A 11,384 10,211 10,174 10,174 10,174 Class B 297,941 288,690 278,557 275,311 266,721 Class C 72,108 69,183 74,988 67,725 67,240 All Types 381,433 368,084 363,719 353,210 344,135 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 11,384 10,211 10,174 10,174 10,174 Class B 310,148 300,897 290,764 287,518 278,928 Class C 72,108 69,183 74,988 67,725 67,240 All Types 393,640 380,291 375,926 365,417 356,342 Total Occupancy SF 1,252,790 1,266,139 1,270,504 1,281,013 1,290,088 Growth Rate (%) -0.8% 0.8% 0.3% 0.6% 0.6% Class A 8.3% 7.5% 7.4% 7.4% 7.4% Class B 31.2% 30.3% 29.3% 28.9% 28.1% Class C 14. 13.4% 14.5% 13.1% 13. All Types 23.9% 23.1% 22.8% 22.2% 21.6% Class A $1.63 $1.59 $1.54 $1.62 $1.62 Class B $1.57 $1.61 $1.54 $1.51 $1.50 Class C $1.46 $1.36 $1.32 $1.31 $1.27 All Types $1.55 $1.56 $1.50 $1.48 $1.46 Gross Absorption 7,650 28,852 8,641 33,716 15,520 Net Absorption -13,856 13,349 4,365 10,509 9,075 YTD Net Absorption -13,856-507 3,858 14,367 9,075 25% 23.9% 24% 23.1% 23.1% 22.6% 22.8% 23% 22.2% 21.8% 21.7% 21.7% 22% 21.6% 20.8% 21% 20.3% 20.1% 19% 18%
Folsom Class A 2,051,065 2,051,065 2,051,065 2,051,065 2,051,065 Class B 2,177,394 2,177,394 2,177,394 2,177,394 2,177,394 Class C 537,654 537,654 537,654 537,654 537,654 All Types 4,766,113 4,766,113 4,766,113 4,766,113 4,766,113 Class A 226,898 213,748 211,546 188,342 164,872 Class B 238,883 254,839 254,173 251,152 259,084 Class C 25,936 25,385 78,385 78,787 77,090 All Types 491,717 493,972 544,104 518,281 501,046 Class A 12,520 0 0 0 0 Class B 34,627 20,008 20,008 18,215 19,618 All Types 47,147 20,008 20,008 18,215 19,618 Class A 239,418 213,748 211,546 188,342 164,872 Class B 273,510 274,847 274,181 269,367 278,702 Class C 25,936 25,385 78,385 78,787 77,090 All Types 538,864 513,980 564,112 536,496 520,664 Total Occupancy SF 4,227,249 4,252,133 4,202,001 4,229,617 4,245,449 Growth Rate (%) 0.5% 0.5% -1.1% 0.6% 0.3% Class A 11.7% 10.4% 10.3% 9.2% 8. Class B 12.6% 12.6% 12.6% 12.4% 12.8% Class C 4.8% 4.7% 14.6% 14.7% 14.3% All Types 11.3% 10.8% 11.8% 11.3% 10.9% Class A $1.97 $1.90 $1.90 $1.90 $1.93 Class B $1.66 $1.66 $1.69 $1.70 $1.75 Class C $1.37 $1.47 $1.46 $1.46 $1.46 All Types $1.78 $1.75 $1.74 $1.73 $1.76 Gross Absorption 56,617 69,385 15,074 46,688 47,656 Net Absorption 24,092 24,884-50,132 27,616 15,832 YTD Net Absorption 24,092 48,976-1,156 26,460 15,832 18% 16% 14% 12% 8% 6% 4% 2% 14.4% 15.8% 14.9% 13.7% 13.8% 13.1% 12.2% 11.8% 11.3% 10.8% 11.8% 11.3% 10.9% $1.80 $1.40 $1.00 $0.60 $0.20
Highway 50 / Rancho Cordova Class A 5,161,761 5,161,761 5,161,761 5,161,761 5,161,761 Class B 9,505,316 9,505,316 9,505,316 9,505,316 9,505,316 Class C 2,567,402 2,567,402 2,567,402 2,567,402 2,567,402 All Types 17,234,479 17,234,479 17,234,479 17,234,479 17,234,479 Class A 503,776 501,679 397,268 431,454 423,336 Class B 1,620,253 1,629,552 1,531,311 1,531,096 1,509,894 Class C 462,807 458,266 507,911 501,195 492,648 All Types 2,586,836 2,589,497 2,436,490 2,463,745 2,425,878 Class A 90,416 106,615 87,789 88,755 87,789 Class B 1,145 1,317 1,317 1,317 0 All Types 91,561 107,932 89,106 90,072 87,789 Class A 594,192 608,294 485,057 520,209 511,125 Class B 1,621,398 1,630,869 1,532,628 1,532,413 1,509,894 Class C 462,807 458,266 507,911 501,195 492,648 All Types 2,678,397 2,697,429 2,525,596 2,553,817 2,513,667 Total Occupancy SF 14,556,082 14,537,050 14,708,883 14,680,662 14,720,812 Growth Rate (%) 0.8% -0.1% 1. -0.2% 0.2% Class A 11.5% 11.8% 9.4% 10.1% 9.9% Class B 17.1% 17.2% 16.1% 16.1% 15.9% Class C 18. 17.8% 19.8% 19.5% 19.2% All Types 15.5% 15.7% 14.7% 14.8% 14.6% Class A $1.82 $1.82 $1.82 $1.80 $1.78 Class B $1.56 $1.56 $1.55 $1.55 $1.52 Class C $1.09 $1.15 $1.14 All Types $1.56 $1.54 $1.52 $1.52 $1.51 Gross Absorption 202,646 142,402 308,796 108,711 79,738 Net Absorption 137,432-19,032 171,833-28,221 40,150 YTD Net Absorption 137,432 118,400 290,233 262,012 40,150 18% 16% 14% 12% 8% 6% 4% 2% 17.1% 16.8% 15.9% 17.4% 18. 17.8% 17.2% 16.3% 15.5% 15.7% 14.7% 14.8% 14.6%
Howe Ave / Fulton Ave Class A 186,306 186,306 186,306 186,306 186,306 Class B 1,228,671 1,228,671 1,228,671 1,228,671 1,228,671 Class C 1,043,962 1,043,962 1,043,962 1,043,962 1,043,962 All Types 2,458,939 2,458,939 2,458,939 2,458,939 2,458,939 Class A 50,046 43,898 43,898 43,898 63,150 Class B 33,916 339,231 336,159 335,923 340,525 Class C 214,483 201,520 188,331 188,473 213,290 All Types 298,445 584,649 568,388 568,294 616,965 Class B 4,202 4,202 4,202 4,202 0 All Types 4,202 4,202 4,202 4,202 0 Class A 50,046 43,898 43,898 43,898 63,150 Class B 38,118 343,433 340,361 340,125 340,525 Class C 214,483 201,520 188,331 188,473 213,290 All Types 302,647 588,851 572,590 572,496 616,965 Total Occupancy SF 2,156,292 1,870,088 1,886,349 1,886,443 1,841,974 Growth Rate (%) 11. -11.6% 0.7% 0. -1.8% Class A 26.9% 23.6% 23.6% 23.6% 33.9% Class B 3.1% 28. 27.7% 27.7% 27.7% Class C 20.5% 19.3% 18. 18.1% 20.4% All Types 12.3% 23.9% 23.3% 23.3% 25.1% Class A $1.76 $1.76 $1.76 $1.76 $1.85 Class B $1.51 $1.49 $1.51 $1.49 $1.48 Class C $1.54 $1.56 $1.54 $1.53 $1.50 All Types $1.57 $1.53 $1.54 $1.52 $1.52 Class B 18,625 0 0 0 0 Total A & B 18,625 0 0 0 0 Gross Absorption 39,026 34,635 38,787 16,995 16,941 Net Absorption 289,780-286,204 16,261 94-44,469 YTD Net Absorption 289,780 3,576 19,837 19,931-44,469 3 25% 22.5% 22. 22.2% 24.1% 23.6% 23.1% 23. 23.5% 23.9% 23.3% 23.3% 25.1% 15% 12.3% 5%
Midtown Sacramento Class A 571,819 571,819 571,819 571,819 571,819 Class B 1,794,538 1,794,538 1,794,538 1,794,538 1,794,538 Class C 1,219,447 1,219,447 1,219,447 1,219,447 1,219,447 All Types 3,585,804 3,585,804 3,585,804 3,585,804 3,585,804 Class A 11,245 16,688 3,625 3,625 8,229 Class B 173,661 170,419 92,436 94,475 97,352 Class C 130,719 141,894 154,233 154,604 151,995 All Types 315,625 329,001 250,294 252,704 257,576 All Types 0 0 0 0 0 Class A 11,245 16,688 3,625 3,625 8,229 Class B 173,661 170,419 92,436 94,475 97,352 Class C 130,719 141,894 154,233 154,604 151,995 All Types 315,625 329,001 250,294 252,704 257,576 Total Occupancy SF 3,270,179 3,256,803 3,335,510 3,333,100 3,328,228 Growth Rate (%) -0.5% -0.4% 2.2% -0.1% -0.1% Class A 2. 2.9% 0.6% 0.6% 1.4% Class B 9.7% 9.5% 5.2% 5.3% 5.4% Class C 10.7% 11.6% 12.6% 12.7% 12.5% All Types 8.8% 9.2% 7. 7. 7.2% Class A $2.25 $2.25 $2.25 $2.25 $2.28 Class B $2.03 $2.01 $1.97 $1.99 $1.99 Class C $1.68 $1.68 $1.66 $1.50 $1.50 All Types $1.89 $1.88 $1.78 $1.69 $1.71 Gross Absorption 9,280 6,801 102,188 6,763 18,857 Net Absorption -16,393-13,376 78,707-2,410-4,872 YTD Net Absorption -16,393-29,769 48,938 46,528-4,872 9% 8% 7% 6% 5% 4% 3% 2% 1% 8.8% 8.8% 8.8% 8. 8.4% 8.3% 8.4% 8.3% 8.8% 9.2% 7. 7. 7.2% $2.50 $1.50 $1.00 $0.50
Natomas / Northgate Class A 3,622,022 3,622,022 3,622,022 3,622,022 3,622,022 Class B 2,232,832 2,232,832 2,232,832 2,232,832 2,232,832 Class C 551,045 551,045 551,045 551,045 551,045 All Types 6,405,899 6,405,899 6,405,899 6,405,899 6,405,899 Class A 835,698 749,428 753,910 743,357 755,365 Class B 416,079 466,133 443,445 444,089 440,058 Class C 173,878 147,449 147,499 147,499 147,669 All Types 1,425,655 1,363,010 1,344,854 1,334,945 1,343,092 Class A 2,219 2,219 2,219 0 0 All Types 2,219 2,219 2,219 0 0 Class A 837,917 751,647 756,129 743,357 755,365 Class B 416,079 466,133 443,445 444,089 440,058 Class C 173,878 147,449 147,499 147,499 147,669 All Types 1,427,874 1,365,229 1,347,073 1,334,945 1,343,092 Total Occupancy SF 4,978,025 5,040,670 5,058,826 5,070,954 5,062,807 Growth Rate (%) -3.1% 1. 0.3% 0.2% -0.1% Class A 23.1% 20.8% 20.9% 20.5% 20.9% Class B 18.6% 20.9% 19.9% 19.9% 19.7% Class C 31.6% 26.8% 26.8% 26.8% 26.8% All Types 22.3% 21.3% 21. 20.8% 21. Class A $1.90 $1.92 $1.91 $1.87 $1.89 Class B $1.59 $1.62 $1.59 Class C $1.03 $1.01 $1.04 $1.04 $1.04 All Types $1.70 $1.72 $1.71 $1.69 $1.70 Gross Absorption 120,296 187,864 64,866 72,256 36,421 Net Absorption -197,761 62,645 18,156 12,128-8,147 YTD Net Absorption -197,761-135,116-116,960-104,832-8,147 3 25% 15% 24.2% 24.7% 23.5% 23.2% 24.2% 24.1% 23.5% 19.2% 22.3% 21.3% 21. 20.8% 21. 5%
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 1,193,685 Class C 660,735 660,735 660,735 660,735 660,735 All Types 2,693,279 2,693,279 2,693,279 2,693,279 2,713,040 Class A 250,891 247,133 206,283 211,779 204,330 Class B 361,417 361,385 358,419 361,162 367,476 Class C 84,307 89,792 151,936 146,990 146,990 All Types 696,615 698,310 716,638 719,931 718,796 Class B 13,697 13,697 13,697 13,697 13,697 All Types 13,697 13,697 13,697 13,697 13,697 Class A 250,891 247,133 206,283 211,779 204,330 Class B 375,114 375,082 372,116 374,859 381,173 Class C 84,307 89,792 151,936 146,990 146,990 All Types 710,312 712,007 730,335 733,628 732,493 Total Occupancy SF 1,982,967 1,981,272 1,962,944 1,959,651 1,980,547 Growth Rate (%) 2.7% -0.1% -0.7% -0.1% 0. Class A 29.2% 28.8% 24. 24.7% 23.8% Class B 32. 32. 31.7% 31.9% 31.9% Class C 12.8% 13.6% 23. 22.2% 22.2% All Types 26.4% 26.4% 27.1% 27.2% 27. Class A $1.85 $1.85 $1.85 $1.85 $1.85 Class B $1.66 $1.67 $1.66 $1.67 $1.66 Class C $1.05 $1.06 $1.44 $1.44 $1.45 All Types $1.65 $1.66 $1.67 $1.68 $1.67 Class B 0 0 0 0 19,761 Total A & B 0 0 0 0 19,761 Gross Absorption 93,953 9,741 57,637 15,749 40,537 Net Absorption 73,979-1,695-18,328-3,293 20,896 YTD Net Absorption 73,979 72,284 53,956 50,663 20,896 35% 30.9% 32.2% 30.5% 31.3% 29.5% 29.1% 3 26.9% 25.7% 26.4% 26.4% 27.1% 27.2% 27. 25% 15% 5%
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 31,024 Class C 283,927 283,927 283,927 283,927 283,927 All Types 313,693 313,693 313,693 313,693 314,951 All Types 0 0 0 0 0 Class B 29,766 29,766 29,766 29,766 31,024 Class C 283,927 283,927 283,927 283,927 283,927 All Types 313,693 313,693 313,693 313,693 314,951 Total Occupancy SF 695,387 695,387 695,387 695,387 694,129 Growth Rate (%) 1. 0. 0. 0. -0.1% Class A 0. 0. 0. 0. 0. Class B 11.9% 11.9% 11.9% 11.9% 12.4% Class C 37.4% 37.4% 37.4% 37.4% 37.4% All Types 31.1% 31.1% 31.1% 31.1% 31.2% Class A Class B $1.29 $1.41 $1.41 $1.34 $1.24 Class C $1.21 $1.61 $1.61 $1.61 $1.61 All Types $1.22 $1.59 $1.59 $1.58 $1.57 Gross Absorption 10,174 0 0 0 297 Net Absorption 10,126 0 0 0-1,258 YTD Net Absorption 10,126 10,126 10,126 10,126-1,258 5 4 3 39.4% 39.4% 42. 40.2% 40.5% 41.4% 40.8% 32.1% 31.1% 31.1% 31.1% 31.1% 31.2%
Roseville / Rocklin Class A 3,232,228 3,232,228 3,283,397 3,283,397 3,283,397 Class B 5,627,105 5,627,105 5,627,105 5,627,105 5,627,105 Class C 1,466,062 1,466,062 1,466,062 1,466,062 1,466,062 All Types 10,325,395 10,325,395 10,376,564 10,376,564 10,376,564 Class A 811,081 797,117 789,881 803,797 750,839 Class B 1,175,210 1,157,342 1,102,357 1,082,618 1,039,415 Class C 230,682 216,894 210,905 208,464 200,398 All Types 2,216,973 2,171,353 2,103,143 2,094,879 1,990,652 Class A 12,194 6,199 2,688 3,025 2,400 Class B 2,716 1,616 6,153 5,410 3,896 All Types 14,910 7,815 8,841 8,435 6,296 Class A 823,275 803,316 792,569 806,822 753,239 Class B 1,177,926 1,158,958 1,108,510 1,088,028 1,043,311 Class C 230,682 216,894 210,905 208,464 200,398 All Types 2,231,883 2,179,168 2,111,984 2,103,314 1,996,948 Total Occupancy SF 8,093,512 8,146,227 8,264,580 8,273,250 8,379,616 Growth Rate (%) 1.3% 0.5% 0.6% 0.1% 1. Class A 25.5% 24.9% 24.1% 24.6% 22.9% Class B 20.9% 20.6% 19.7% 19.3% 18.5% Class C 15.7% 14.8% 14.4% 14.2% 13.7% All Types 21.6% 21.1% 20.4% 20.3% 19.2% Class A $1.75 $1.73 $1.71 $1.80 $1.81 Class B $1.63 $1.61 Class C $1.28 $1.22 $1.22 $1.23 $1.27 All Types $1.64 $1.61 $1.65 $1.65 Class A 0 0 51,169 0 0 Total A & B 0 0 51,169 0 0 Gross Absorption 512,709 258,755 224,802 142,010 198,280 Net Absorption 132,008 52,715 118,353 8,670 106,366 YTD Net Absorption 132,008 52,715 303,076 311,746 106,366 35% 30.6% 29.8% 29.4% 3 27.9% 27. 26.9% 26.3% 25% 22.9% 21.6% 21.1% 20.4% 20.3% 19.2% 15% 5%
South Sacramento Class B 1,241,908 1,241,908 1,241,908 1,241,908 1,254,484 Class C 1,777,980 1,777,980 1,777,980 1,777,980 1,777,980 All Types 3,019,888 3,019,888 3,019,888 3,019,888 3,032,464 Class A 1,475 0 0 0 0 Class B 141,636 142,423 132,766 148,084 154,414 Class C 381,070 354,271 296,109 287,649 282,313 All Types 524,181 496,694 428,875 435,733 436,727 All Types 0 0 0 0 0 Class A 1,475 0 0 0 0 Class B 141,636 142,423 132,766 148,084 154,414 Class C 381,070 354,271 296,109 287,649 282,313 All Types 524,181 496,694 428,875 435,733 436,727 Total Occupancy SF 2,495,707 2,523,194 2,591,013 2,584,155 2,595,737 Growth Rate (%) -0.6% 0.9% 2.2% -0.2% 0. Class A #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Class B 11.4% 11.5% 10.7% 11.9% 12.3% Class C 21.4% 19.9% 16.7% 16.2% 15.9% All Types 17.4% 16.4% 14.2% 14.4% 14.4% Class A Class B $1.54 $1.52 $1.57 $1.53 $1.55 Class C $1.21 $1.24 $1.23 $1.23 $1.25 All Types $1.30 $1.32 $1.34 $1.33 $1.36 Class B 0 0 0 0 12,576 Total A & B 0 0 0 0 12,576 Gross Absorption 33,641 63,695 187,823 41,060 21,798 Net Absorption -18,424 27,487 67,819-6,858 11,582 YTD Net Absorption -18,424 9,063 76,882 70,024 11,582 25% 15% 13.4% 14.9% 17. 20.2% 19.6% 18.7% 16.9% 16.7% 17.4% 16.4% 14.2% 14.4% 14.4% 5%
Watt Ave Class B 1,101,436 1,101,436 1,101,436 1,101,436 1,101,436 Class C 1,219,191 1,219,191 1,219,191 1,219,191 1,219,191 All Types 2,320,627 2,320,627 2,320,627 2,320,627 2,320,627 Class B 101,311 108,106 104,651 87,638 92,148 Class C 248,654 207,461 205,792 216,422 200,483 All Types 349,965 315,567 310,443 304,060 292,631 Class C 2,903 2,903 1,891 1,891 1,891 All Types 2,903 2,903 1,891 1,891 1,891 Class B 101,311 108,106 104,651 87,638 92,148 Class C 251,557 210,364 207,683 218,313 202,374 All Types 352,868 318,470 312,334 305,951 294,522 Total Occupancy SF 1,967,759 2,002,157 2,008,293 2,014,676 2,026,105 Growth Rate (%) -0.3% 1.5% 0.3% 0.3% 0.5% Class A 0. 0. 0. 0. 0. Class B 9.2% 9.8% 9.5% 8. 8.4% Class C 20.6% 17.3% 17. 17.9% 16.6% All Types 15.2% 13.7% 13.5% 13.2% 12.7% Class A Class B $1.47 $1.43 $1.43 $1.55 $1.56 Class C $1.21 $1.24 $1.24 $1.26 $1.28 All Types $1.28 $1.30 $1.30 $1.34 $1.37 Gross Absorption 207 9,786 9,497 29,518 2,688 Net Absorption -8,107 34,398 6,136 6,383 11,429 YTD Net Absorption -8,107 26,291 32,427 38,810 11,429 16% 12% 15.7% 11.6% 14.9% 14.8% 15.3% 15.1% 14.9% 14.9% 15.2% 13.7% 13.5% 13.2% 12.7% 8% 4%
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 23,784 23,784 23,784 23,784 23,784 Class B 166,457 129,532 129,532 134,831 132,828 Class C 38,439 36,739 36,739 31,684 32,366 All Types 228,680 190,055 190,055 190,299 188,978 Class A 9,949 21,272 21,272 21,272 21,272 All Types 9,949 21,272 21,272 21,272 21,272 Class A 33,733 45,056 45,056 45,056 45,056 Class B 166,457 129,532 129,532 134,831 132,828 Class C 38,439 36,739 36,739 31,684 32,366 All Types 238,629 211,327 211,327 211,571 210,250 Total Occupancy SF 1,744,507 1,771,809 1,771,809 1,771,565 1,772,886 Growth Rate (%) -0.5% 1.4% 0. 0. 0.1% Class A 4. 5.4% 5.4% 5.4% 5.4% Class B 22.7% 17.7% 17.7% 18.4% 18.1% Class C 9.2% 8.8% 8.8% 7.6% 7.8% All Types 12. 10.7% 10.7% 10.7% 10.6% Class A $1.70 $1.70 $1.70 $1.72 $1.72 Class B $1.73 $1.73 $1.73 $1.72 $1.72 Class C $1.47 $1.47 $1.48 $1.48 $1.46 All Types $1.68 $1.68 $1.68 $1.68 $1.68 Gross Absorption 0 38,625 0 7,189 8,317 Net Absorption -9,949 27,302 0-244 1,321 YTD Net Absorption -9,949 17,353 17,353 17,109 1,321 14% 11.5% 12. 12% 10.3% 10.3% 9.9% 9.9% 9.9% 10.2% 10.2% 10.7% 10.7% 10.7% 10.6% 8% 6% 4% 2%
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. Avg. Asking Rate 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.