The Sacramento retail market recorded 85,000 square feet (sf) of positive net absorption during the fourth quarter of 2019, bringing the annual to 391,000 sf, slightly less than half of the 2018 total. Leasing activity was highlighted by new projects as all three of the top leases took 38,000 sf at Granite Marketplace.
Total sales volume in the Sacramento investment market slowed during the fourth quarter, totaling $839 million, a decrease of 17.1%. However, the annual total was strong surpassing the $3.0 billion threshold for the fifth consecutive year. Bucking recent trends in which multifamily product led the market in total sales volume, office product amassed the largest total reaching $361 million, 43.0% of the quarterly total.
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