Market Insight

Lock Richards' Insight on the Commercial Real Estate Scene

Cautious Optimism – 2021 Q1 Review

With vaccines now being distributed and a new government stimulus package underway, the forecast for commercial real estate at the beginning of 2021 is one of cautious optimism. While 2021 brings renewed hope; concerning questions remain. Will vaccine distribution be widespread and quick enough to reach herd immunity? Will new Covid strains surface reducing the …

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The New “Coronaverse” – 2020 Q1 Review

This quarter we were hit by an unprecedented (in modern times) pandemic. Economic shutdowns and self-quarantine regulations were instituted globally and California took an early and firm lead in such restrictions.  During the last month of this quarter economic activity came to a standstill. Most real estate transactions then underway either fell out completely or …

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2019 Market Summary – 2019 Q4 Review

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 …

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Buying Land? Due Diligence is Key

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 …

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Office Focus – Open Floorplans? – 2019 Q3 Review

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 …

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Landlords vs Tenants – 2019 Q2 Review

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 …

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