Sacramento Commercial Real Estate News From CoStar Group

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In Rare Sight, Sacramento Office Vacancy Below National Level
The Class A, 366,337-square-foot U.S. Bank Tower at 621 Capitol Mall in Sacramento, CACredit: CBRE Historically, office vacancy in greater Sacramento has been elevated compared to national levels. During the previous economic cycle, Sacramento vacancies reached a low point of 11 percent, while national vacancy declined to 10.2 percent. The spread between metro-level and national vacancy only increased in the wake of the Great Recession--Sacramento...

Demand for Industrial Space in Sacramento at Record Highs
The 116,964-square-foot industrial building at 5350 Raley Blvd. in Sacramento Demand for industrial space is strong in greater Sacramento--the vacancy rate has declined to 4.8 percent, a new all-time low for the metropolitan area. Annual net absorption, the difference in square footage between move-ins and move-outs, averaged 3.77 million square feet from 2015 to 2017, and reached an all-time high of 4.92 million square feet in 2017. Preliminary...

Western U.S. Senior Housing Portfolio Goes for $382 Million
Pictured: The Bellettini in Bellevue, WA, one of nine senior housing communities MBK Senior Living has acquired in a $382 million deal with West Partners.MBK Senior Living has paid $382 million for a nine-property senior housing portfolio in the Western states. MBK Senior Living, an Irvine, CA-based arm of the U.S. wing of Japanese conglomerate Mitsui & Co.,plans to continue a unit renovation program at the properties as a way to boost returns...

Enduravest Partners Pays $5.3M for Sacramento Multifamily Complex
The 56-unit Ventura Gardens Apts. at 5500 Foothill Gardens Ct. in Sacramento, CA Santa Barbara, CA-based Enduravest Partners, an investment firm that focuses on value-add properties, purchased a 56-unit multifamily complex from a private investor. Ventura Gardens Apts. sold for $5.3 million, or approximately $95,000 per unit. The garden-style complex at 5500 Foothill Gardens Ct. comprises studio, one- and two-bedroom units ranging from 500...