Sacramento Office Market Report
The Sacramento office ended the second quarter 2024 with a vacancy rate of 17.3% up slightly from the first quarter’s vacancy rate of 17.1%. The office market recorded another quarter of negative net absorption with negative 306,581 square feet, making it the sixth consecutive quarter of negative net absorption. Construction continues on two buildings (314,000 square feet & 255,000 square feet) in the Aggie Square project in the South Sacramento submarket.
Sacramento Industrial Market Report
The industrial vacancy rate increased slightly during the second quarter 2024 to 5.5% from 5.0% in the first quarter 2024. The industrial market posted a negative 408,678 square feet of net absorption during the second quarter of 2024 bringing the year-to-date net absorption total to a negative 145,466 square feet. The Sacramento region currently has over 414,000 square feet under construction, which are all scheduled to be completed in 2024.
Download Sacramento Industrial Market Report 2Q24