1. Capital Markets: The year-to-date (Q2-19) sales volume nearly reached $1.5 billion. The market is expected to surpass $3.0 billion in annual sales volume for the fifth consecutive year. Office sales comprise the largest portion of year-to-date activity (38.3%) for the first time in the current economic cycle.
2. Job Growth: Healthcare created 37,000 new jobs in Sacramento since 2013, 54% more than the next closest industry which is construction.
3. Hospitality: More than 1,500 new hotel rooms could be coming to Sacramento’s urban core.
4. Lease Rates: Downtown Class A office asking rates reached a new record at $3.18 full service growth per month, representing a 6.4% year-over-year increase.
5. Construction: Improving office fundamentals and an extremely tight Bay Area market should encourage more spec development starts in the urban core.
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