Market Insight

Lock Richards' Insight on the Commercial Real Estate Scene

What’s Trending in Commercial Real Estate

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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Projecting the Economic Cycle – 2018 Q2 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 …

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2018 Starting Strong! – Q1 2018 Review

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 …

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2017 In Review – 2017 Q4 Review

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 …

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Trending Now – 2017 Q3 Review

This quarter I wanted to highlight some interesting trends affecting commercial real estate (CRE) markets.  While these trends stem from national metrics, they will ultimately affect our local markets and may offer valuable insight to investors, owner/users, developers and tenants who are considering acquisition, disposition, expansion or relocation decisions. Nationally, over the last eight quarters, …

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Goldilocks in the House – 2017 Q2 Review

bowl of porridge

At mid-year 2017, the nation seems to be enjoying what has been referred to as a “Goldilocks” commercial real estate market. In the children’s fairy tale, Goldilocks finds the perfect bowl of porridge – not too hot, not too cold, but just right. We currently have roaring stock values, growing GDP, minimal unemployment, rising disposable …

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Trump’s First 100 Days – 2017 Q1 Review

The White House

Nevada County’s commercial real estate market in first quarter 2017 seemed to parallel our new President’s first 100 days in office, in more ways than just time. Upon Trump taking office, the private sector/business community’s hopes and expectations for an improving economic climate increased, as demonstrated by the run-up of the stock market. At the …

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The Tortoise and the Hare – 2016 Q4 Review

Downtown San Francisco

As in Aesop’s Tortoise and the Hare fable, California’s coastal communities (the “Hare”) continued enjoying a fast-paced and robust economic recovery in 2016, while smaller inland suburbs and tertiary markets like Nevada County (the “Tortoise”) continued on a much slower and steadier growth trajectory. Continuing with the story line, the moral looking forward may be …

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