Overall, 2019 was a good year for commercial/investment property owners in Western Nevada County. In all three commercial property sectors – industrial, retail and office – the Grass Valley and Nevada City areas saw year-over-year increases in asking rents partnered with decreasing vacancy rates, resulting in higher values and increasing sale prices. Interestingly, however, the …
Whether you are considering buying land for commercial or residential development, pre-closing due diligence is crucial for a successful project. First, investigate the property’s zoning. Read and understand the formal city or county zoning ordinance. Is your desired development a principally permitted use; a use requiring some type of conditional use permit (and generally an …
Open office floorplans have become trendy over the past several years. Driven by the tech industry and other “new economy” sectors, such layouts were developed to enhance worker collaboration, creativity and job satisfaction, with the ultimate goal of improving worker productivity – all while reducing real estate occupancy costs. With such lofty ideals attributed to …
Whether you are a business owner renting office, industrial or retail space; or a landlord or investor considering buying commercial real estate, keeping tabs on market trends can help shed light on the strengths and/or weaknesses of your opponent’s hand and assist with decision-making that will likely have significant and long term financial implications. Market …
We hear the US is now 10 years into an economic expansion and real estate recovery. However, the local Sierra Foothills economy, including Western Nevada County, has historically lagged economic indicators in the greater Bay Area and Sacramento regions, and this recent expansion appears no different. In fact, local trends seem to indicate that we …
Of the 3 product types tracked by this report (office / industrial / retail) the industrial sector was the big winner in 2018. The industrial vacancy rate remained below that of the office and retail segments at only approximately 2.3%, meaning the Grass Valley / Nevada City region ended the year with less than 50,000 …
Current trends in commercial real estate differ depending on the particular market segment – be it office, retail or industrial. As shown in the statistics below, our local office sector has been the slowest to recover from the Great Recession and currently remains the softest of the three property types. This is due primarily to …
Read moreWhat’s Trending in Commercial Real Estate – 2018 Q3 Review
America’s Gross Domestic Product (GDP) fell dramatically during the great recession hitting a deep hole in 2009; however, since that time GDP growth has generally been positive for the past 8 years. With the typical business cycle in America averaging about 5.5 years, is the length of the current expansion an indication that recession is …
If you are looking to sell, purchase or lease commercial real estate in Grass Valley or Nevada City in 2018, the following summary of market activity over the past year should be of interest. Generally speaking, the local market has been tightening, with rents and sale prices increasing even though transaction volume decreased year-over-year from …
A brief look back at President Trump’s first year in office shows mixed signals, especially here in the local Sierra Foothills region of California. Nationally, consumer confidence rose to a 17-year high, and the stock market, as represented by the Dow, set 70 record closes ending the year up 25%. Locally, regarding commercial real estate …