Sacramento Office Market Report
| Average Asking Rent (Price/SF) | $2.09 |
| Vacancy Rate (%) | 12.1% |
| Net Absorption (SF) | -100,589 |
The Sacramento office market posted a slight increase in vacancy from 11.9% in the fourth quarter of 2021 to 12.1% in the first quarter of 2022. Over the past two years, the quarterly office vacancy rate has experienced minimal fluctuations. The largest space to become vacant was 100,338 square feet at 750 Riverpoint Drive in West Sacramento. The quarter ended with the office market’s overall average full-service asking rent at $2.09/SF, with Class A rents at $2.65/SF, Class B rents at $2.03/SF and Class C rents at $1.63/SF. For comparison, the same overall average full-service rent was $2.02/SF a year ago in the first quarter of 2021.
Download Sacramento Office Market Report 1Q22Sacramento Industrial Market Report
| Average NNN Asking Rent (Price/SF) | $0.85 |
| Vacancy Rate (%) | 2.0% |
| Net Absorption (SF) | 819,486 |
One thing is for certain: the white-hot industrial market we’ve experienced for the last few years shows no signs of slowing down. Despite the record level of industrial space delivered in 2021, vacancy rates at the end of the first quarter of 2022 continue to hover near all-time lows, while lease rates have climbed to new all-time highs. The market continues to see tenants competing fiercely for what little available space there is, while landlords are taking advantage of the competition by offering very few concessions to even the highest quality tenants. This landlord-favored market continues to stir up demand from local mom-and-pop investors and the largest national players alike.
Download Sacramento Industrial Market Report 1Q22