Market Insight

Lock Richards' Insight on the Commercial Real Estate Scene

2019 Market Summary

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?

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

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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What’s Trending in Commercial Real Estate – 2018 Q3 Review

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 …

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