Sacramento Office Market Report
| Average Asking Rent (Price/SF) | $2.01 |
| Availability Rate (%) | 11.4 |
| Net Absorption (SF) | -477,000 |
The first quarter of 2021 marks the one-year anniversary of the start of the pandemic. The country is still under various forms of lockdown. Restrictions have eased slightly in California as restaurants, gyms and movie theaters can open with occupancy limitations. Vaccinations started a few months ago and will be available to everyone aged 16 or older in mid-April. Wearing face masks, social distancing and handwashing are still highly recommended and likely here to stay for the foreseeable future.
Download Sacramento Office Market Report 1Q21Sacramento Industrial Market Report
| Average NNN Asking Rent (Price/SF) | $0.67 |
| Availability Rate (%) | 3.1% |
| Net Absorption (SF) | 2,698,258 |
After one year of the pandemic and weakening office, retail and hospitality sectors, the local and national industrial market has remained strong, driven by the continued expansion of Ecommerce.
The first quarter of 2021 saw a slight increase in vacancy rate from 3.0% to 3.1%; this was mostly due to new construction as the quarter saw over 3.0 million square feet of deliveries. Net absorption totaled nearly 2.7 million square feet, and the majority of this occurred in buildings currently under construction, signifying the levels of current demand. The industrial market will undoubtedly remain in record-low vacancy territory for the near-term due to record high levels of demand.
Download Sacramento Industrial Market Report 1Q21