Sacramento Commercial Real Estate News From CoStar Group

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Retail Construction Remains Tepid in Sacramento
Aerial of the Downtown Commons development in Sacramento, California. Retail construction has been a rare sight in greater Sacramento this decade. Since 2010, retail stock has only increased by a cumulative 4 percent. The trend has continued in 2018 -- just 586,091 square feet are currently underway across the metropolitan area, which will

Government Properties Income Trust, Select Income REIT To Merge
The 163,425-square-foot Capitol Plaza in Sacramento is among Government Properties Trust's notable holdings. The RMR Group Inc., an alternative asset management company that manages six publicly traded real estate investment trusts, is merging two of them. Government Properties Income Trust and Select Income REIT entered a definitive agreement to merge that will create a real estate investment trust, or REIT, focused on owning, operating and...

Amazon to Open Second Fulfillment Center in Stockton, California
(Pictured) Amazon's latest fulfillment center will open at 4532 Newcastle Road in Stockton, California. Online retailer Amazon.com Inc. will open its second large fulfillment center in the San Joaquin Valley city of Stockton, California, a 1 million-square-foot facility at 4532 Newcastle Road. The distribution building constructed this year by CT Realty Investors at the Norcal Logistics Center will create more than 1,000 full-time jobs, doubling...

Cupertino Electric Expands Footprint Near Sacramento
The 61,750-square-foot office building in Roseville, California. Cupertino Electric, a privately owned electrical engineering and construction company, expanded its footprint and subleased 10,618 square feet at Mourier Land Investment Corporation’s Class B office building in Roseville, California. The three-story structure at 3200 Douglas Blvd. was built in 2002. The 61,750-square-foot building spans nearly one acre less than 12 miles from...

GHD Renews at Vintage Oaks Office Park in Roseville
The 10,653-square-foot building at Vintage Oaks Office Park in Roseville, California. GHD, a privately owned company that provides engineering, architecture, environmental and construction services, renewed its 10,653-square-foot lease at Vintage Oaks Office Park in Roseville, California. The single-story structure at 943 Reserve Drive was built in 2004. Spanning north of one acre, the single-tenant, Class B property is less than 12 miles from...

Sacramento’s Downtown Office Market Keeps Chugging Along
California State Lottery Commission's headquarters at 700 N. 10th St. in Sacramento, California. Downtown, greater Sacramento’s premier office market, is performing at a high level. The area of choice for many high-profile office tenants in Sacramento, the downtown occupancy rate is 92 percent. This mark is outperforming downtown’s 10-year average of 90.2 percent, but closely mirrors the metropolitan area’s office market overall -- the occupancy...

McClellan Park Breaks Ground on Spec Warehouse in Sacramento
Rendering of the 417,000-square-foot McClellan Distribution Center in Sacramento, California. McClellan Park broke ground on McClellan Distribution Center, a 417,000-square-foot speculative warehouse in Sacramento, California. Plans for the cross-dock facility, which is slated to deliver by mid-2019, call for 95 loading docks, four drive-in

Bixby Land Co. Pays $33.4M for Class A Warehouse in West Sacramento
Aerial of the 387,420-square-foot warehouse leased to Veritiv Express at Southport Business Park in West Sacramento, California. Newport Beach, California-based Bixby Land Co. purchased a 387,420-square-foot warehouse at Southport Business Park in West Sacramento, California, from Ridge Capital. Veritiv Express sold for $33.4 million, or about $86 per square foot. The single-story structure at 3510 Carlin Drive comprises 86 loading docks and...

Kidder Matthews Appoints New Executive Vice President of Brokerage
Kidder Matthews has hired Bay Area commercial real estate veteran Eric Luhrs as its new executive vice president of brokerage. Effective September 11, Luhrs will oversee the firm's Northern California and Nevada offices in San Francisco, Redwood City, San Jose, Sacramento, Roseville and Reno, with an emphasis on business development and recruiting. Luhrs has been involved in more than 20 million square feet of investment sales and lease transactions...