Market Insight

Lock Richards' Insight on the Commercial Real Estate Scene

2015 Lipsey Survey Results

Commercial Real Estate Company Ranking – Sperry Van Ness ranks #6 in the 2015 Lipsey Survey Results of the most recognized CRE brands in commercial real estate. 1. CBRE 2. Cushman & Wakefield (tie) 2. JLL  (tie) 3. Colliers International 4. DTZ 5. NAI Global 6. Sperry Van Ness 7. Avison Young 8. Eastdil Secured …

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How Commercial Real Estate Fared in 2014

National economic indicators related directly to commercial real estate point to a strengthening market this year. However, markets can vary greatly based on even slight changes in geographic location. Here is a look at how Western Nevada County fared in 2014, which will hopefully shed some light on the outlook for 2015. The following information …

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Commercial Real Estate Activity-Q3 2014

More Mixed Signals On one hand, I am happy to report that our phones have been ringing “off-the-hook” as the third quarter of 2014 comes to a close. To summarize the commercial real estate activity-Q3 2014,  total transaction volume is continuing to climb, which signifies a warming and healthier market.  On the other hand, lease …

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Advice for Novice Commercial Property Investors

For the majority of folks in the United States, their home is their first and often their only real property investment.  After buying a house, any further discretionary funds typically go into savings, money market accounts or the stock market.  But with bank savings rates at historic lows, and the stock market vacillating at record …

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Understand your Lease, Avoid Unexpected Expenses

It is not uncommon for our office to receive phone calls from commercial tenants whose leases are nearing expiration and who feel they did not get what they bargained for when they originally signed their lease. Often, these tenants incurred significant unexpected charges or expenses during their lease term, which soured their relationship with their …

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Mid-Year Commercial Property Review

In January I summarized the state of the Western Nevada County commercial real estate market for the 2013 calendar year.  During 2013 vacancy rates had fallen in the industrial and retail sectors, but office vacancies had increased due primarily to large space divestitures by some of our local tech companies.  I indicated that I felt …

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National Trends Affecting Our Local Market

In commercial real estate vernacular, Nevada County is classified as a “tertiary” (or small) market. While our local economy has certain unique attributes and economic drivers, it remains dependent on and influenced by what is happening regionally and nationally. For this reason, this article will review current national (macroeconomic) trends in each of the four …

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Commercial Property Financing Options

Are you interested in purchasing or selling a commercial property and curious about the financing alternatives available?  On a national basis in 2013, the most active commercial real estate lending sources and their market share were as follows: i) CMBS – Commercial Mortgage Backed Securities, 24%; ii) National Banks, 18%; iii) Government Agency (Fannie, Freddie), …

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Information for Local Apartment Investors

Over the past year I have provided current market insight on rents, sale prices and vacancy rates for office, retail and industrial properties. Today’s commentary focuses on the fourth major commercial property segment – the multi-family or apartment market.  This sector consists of apartment buildings containing 5 or more units. (Duplexes, triplexes and fourplexes are …

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Are Commercial Condominiums Good Investments?

I am often asked, “Which is the better investment – a freestanding building or a commercial condominium within a larger complex?” Each has its own unique set of attributes and so the answer really depends on the needs, goals and characteristics of the buyer.  I provide below a comparison of each building type based on …

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