Market Insight

Lock Richards' Insight on the Commercial Real Estate Scene

The Lipsey Results Are In!

Sperry Van Ness ranks #8 in the Lipsey Survey of the most recognized CRE brands in commercial real estate. The Lipsey Company once again produced their annual commercial real estate brand survey and the Sperry Van Ness brand continues to excel, moving up from last year. 1. CBRE 2. Jones Lang LaSalle (tie) 2. Colliers International (tie) …

Read more

Positioning your Property for Best Sale Results

I was recently approached by a client who was planning to sell his vacant commercial/office building. He needed advice on preparing his property for sale in order to generate the greatest level of buyer interest possible – on a limited budget. In this case he was prepared to spend up to $20,000, but he wanted …

Read more

2013 Commercial Real Estate Market in Review

With the New Year upon us, here’s a look back at how the Western Nevada County commercial real estate market fared in 2013. The following results are derived from our database which tracks almost 7 million square feet of commercial property in the Grass Valley/Nevada City region. The following figures are rounded and approximate. Vacancy …

Read more

Time to Look at Land?

Smart investors often buy when everyone else is selling, and sell when everyone else is buying.  In effect, they are ahead of the curve.  The commercial land market in our Sierra Foothill’s region has, for all intents and purposes, been non-existent over the past several years, even while many other sectors of the commercial real …

Read more

Considerations When Leasing Commercial Property

Last month I outlined numerous considerations in regard to purchasing commercial property. However, if you own or operate one of the many businesses or stores that lease space, then this article is for you. Moving to a new location can be very expensive and significantly disruptive to your business. On the other hand, depending on …

Read more

If You Are Buying Commercial Property…

Commercial properties are typically purchased for two primary purposes: investment and business use.  If you are thinking of purchasing commercial property primarily for investment, you will want to consider the following: Are you an active or a passive investor?  – If you have appropriate time, energy and skills, a fixer-upper or “add-value” property could be …

Read more

Commercial Property Values Set To Trent Upward

Two months ago we looked at commercial leasing activity including current vacancy rates and average rental rates for three primary product types – office, retail and industrial. This month, we examine sales activity for the same property types.  I have expanded this analysis back to 2007, the last year of economic growth prior to the …

Read more

Leasing vs. Buying Commercial Property

If your company’s current lease is within 6 months of expiration it is time to start considering alternatives and planning for your future space needs.   I recommend stepping back and taking a macro-level view of your situation.  Do your current facilities portray the image you wish to project?   If clients visit, do they leave with …

Read more

Perfect Time to Buy, Lease Commercial Property

While the overwhelming majority of real estate reporting focuses on residential real estate and home values, this new monthly column will seek to provide valuable and timely information for business owners, landlords, property investors, tenants and anyone else interested in the commercial and investment real estate market in Western Nevada County. I specialize in commercial …

Read more