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 trends represented by the graphs to the right include: 1) the amount of vacant space in all product types is either very low or declining. This is a reflection of the dramatic increase in supply-side costs in comparison to demand-side rents over roughly the past 10 years; and 2) as a result of the supply/demand imbalance mentioned above, commercial property values and rents are trending upwards across the board and will likely continue in this trajectory, barring another major recession, until such time as the reward of new construction becomes commensurate with the risk.

So what are the takeaways for both landlords and tenants? Landlords with existing buildings or investors looking to purchase commercial property in the near future should see attractive appreciation in the coming years (assuming the economy continues to grow or at least remain stable). Tenants, on the other hand, may want to consider signing longer-term leases to lock-in favorable rental rates and thereby
control one of, if not their largest, operating cost components.

AVAILABLE FOR FOR SALE Q2 2019   
LocationSq. Ft.List PricePrice/SF
Industrial
12257 - 12263 Loma Rica Dr, Grass Valley4,500$675,000$150.00
12509 Loma Rica Dr, Grass Valley1,524$116,608$76.51
174-178 Lower Grass Valley Rd, Nevada City8,320$1,249,000$150.12
310 Railroad Ave #300, Grass Valley2,736$399,000$145.83
Office
563 Brunswick Rd # 2, Grass Valley1,151$220,000$191.14
565 Brunswick Rd # 9, Grass Valley1,387$290,000$209.08
972 Golden Gate Ter, Grass Valley4,864$699,900$143.89
13421 Grass Valley Ave, Grass Valley13,136$1,480,000$112.67
901 La Barr Meadows Rd, D, Grass Valley932$125,000$134.12
104 New Mohawk Rd, Nevada City26,336$3,495,000$132.71
143 Spring Hill Dr Ste 1A, Grass Valley5,200$995,000$191.35
648 Zion St, Nevada City918$395,000$430.28
Medical/Dental
152 Catherine Ln., Suite E & F, Grass Valley1,393$225,000$161.52
411 Coyote St, Nevada City1,842$615,000$333.88
150 Glasson Way, Grass Valley6,462$990,000$153.20
1061 E Main St # 103, Grass Valley1,224$146,800$119.93
1061 E Main St # 201, Grass Valley1,137$179,000$157.43
105 Margaret Ln, Grass Valley2,460$399,000$162.20
300 Sierra College Dr #250, Grass Valley1,740$615,000$353.45
300 Sierra College Dr #165, Grass Valley4,787$1,450,000$302.90
Retail
210 Broad St, Nevada City21,675$2,275,000$104.96
231 - 233 Colfax Ave, Grass Valley4,440$1,200,000$270.27
131-139 Joerschke Dr, Grass Valley19,580$1,800,000$91.93
840 E Main St, Grass Valley28,706$5,450,000$189.86
206 W Main St, Grass Valley3,950$895,000$226.58
633 - 653 Maltman Dr, Grass Valley9,020$995,000$110.31
123 Mill St, Grass Valley1,485$897,500$604.38
345 Railroad Ave, Nevada City7,884$985,000$124.94
1125-1165 Sutton Way, Grass Valley24,539$3,500,000$142.63
102 - 108 Union St, Nevada City14,000$3,200,000$228.57
203 York St, Nevada City3,265$1,300,000$398.16
AVAILABLE FOR FOR LEASE Q2 2019   
LocationSq. Ft.Min Base Price/SFMax Base Price/SF
Industrial
12048 - 12050 Charles Dr, Grass Valley 4,600$0.94$0.95
140 E McKnight Way #142, Grass Valley 1,250$0.58$0.58
545 Searls Ave, Nevada City 9,500$2.85$3.35
Office
126 S Auburn St, Grass Valley 5,100$0.65$0.65
131 S Auburn St, Grass Valley921$1.51$1.51
159 S Auburn St, Grass Valley 2,242$1.12$1.12
375 Brunswick Rd, Grass Valley 6,791$1.28$1.28
464-458 Brunswick Rd, Grass Valley 4,970$1.58$1.88
512 - 528 Brunswick Rd, Grass Valley720$1.04$1.04
124 Clydesdale Ct, Grass Valley 7,352$0.75$0.75
333 Crown Point Cir, Grass Valley 10,241$1.70$1.70
350 Crown Point Cir, Grass Valley 5,550$1.40$1.40
355 Crown Point Cir, Grass Valley 12,000$0.60$0.60
360 Crown Point Cir, Grass Valley 9,603$1.39$1.49
431 Crown Point Cir, Grass Valley 11,100$0.85$0.85
488 Crown Point Cir, Grass Valley 5,168$1.57$1.57
149 Crown Point Ct, Grass Valley728$1.50$1.50
13100 Grass Valley Ave & 12438 Loma Rica Drive, Grass Valley 3,869$0.69$0.69
200 Litton Dr, Grass Valley 3,000$1.40$1.40
640 E Main St, Grass Valley 1,579$0.66$0.66
900 E Main St, Grass Valley 7,700$1.63$2.09
944 - 1020 McCourtney Rd, Grass Valley 5,639$1.68$1.68
101 - 106 Providence Mine Rd, Nevada City 1,650$1.41$1.43
200 - 208 Providence Mine Rd, Nevada City 13,529$1.47$1.48
351 Providence Mine Rd, Nevada City 1,152$1.80$1.80
352 Providence Mine Rd, Nevada City 1,530$1.60$1.60
353 Providence Mine Rd, Nevada City 1,704$1.70$1.70
357 Providence Mine Rd, Nevada City 1,800$1.75$1.75
400 Providence Mine Rd, Nevada City 6,265$0.95$0.95
400 Providence Mine Rd, Nevada City 72,110$0.95$0.95
400 Providence Mine Rd, Nevada City 71,985$0.95$0.95
313 Railroad Ave, Nevada City 1,469$1.35$1.35
360 Sierra College Dr, Grass Valley 2,519$1.96$1.96
420 Sierra College Dr, Grass Valley 1,750$2.20$2.20
143 Spring Hill Dr Ste 1A, Grass Valley 5,082$1.23$1.23
165 Spring Hill Dr, Grass Valley 2,500$1.00$1.00
1012 Sutton Way, Grass Valley 3,200$1.87$1.87
1415 Whispering Pines Ln, Grass Valley 8,009$1.60$1.60
Medical/Dental
470 S Auburn St, Grass Valley 1,045$1.20$1.20
150 Glasson Way, Grass Valley 5,720$1.55$1.55
105 Margaret Ln, Grass Valley 1,100$1.30$1.30
123 Margaret Ln, Grass Valley 1,200$1.30$1.30
404 Sierra College Dr, Grass Valley 1,000$2.00$2.00
Retail
408 Broad St & 405 Commercial Street, Nevada City712$1.37$1.37
246 Commercial St & 204 N Pine St, Nevada City 1,894$1.65$1.97
650 Freeman Ln, Grass Valley 18,396$2.20$2.20
342 Idaho Maryland Rd, Grass Valley 5,425$0.70$0.70
533-537 E Main St, Grass Valley 10,000$1.20$1.20
840 E Main St, Grass Valley 11,727$1.60$1.60
105 W Main St, Grass Valley 4,000$0.75$0.75
633 - 653 Maltman Dr, Grass Valley 8,175$1.01$1.45
671 Maltman Dr, Grass Valley 1,660$1.20$1.20
11229 McCourtney Rd, Grass Valley 2,000$1.50$1.50
111 W McKnight Way, Grass Valley 10,284$2.06$2.06
2032 - 2118 Nevada City Hwy, Grass Valley 12,469$1.76$1.76
984 Plaza Dr, Grass Valley 5,500$1.35$1.35
521 Searls Ave, Nevada City 6,250$2.00$2.00
1035-1043 Sutton Way, Grass Valley 2,600$1.00$1.62
102 - 108 Union St, Nevada City 1,873$1.65$1.65
RECENT TRANSACTIONS Q2 2019   
LocationSq. Ft.Sale/LeaseClose Date
900 E Main St, Grass Valley483Lease3/13/2019
355 Providence Mine Rd, Nevada City 1,302Lease3/14/2019
146 Scandling Ave, Grass Valley 2,180Sale4/2/2019
416 Crown Point Cir, Grass Valley 8,000Lease4/15/2019
13100 Grass Valley Ave & 12438 Loma Rica Drive, Grass Valley 5,441Lease4/15/2019
225 Colfax Ave, Grass Valley 2,545Sale4/22/2019
11976 Charles Dr, Grass Valley 2,550Sale4/29/2019
416 Crown Point Cir, Grass Valley 11,666Lease5/1/2019
214 Broad St, Nevada City 1,319Sale5/10/2019
216 Broad St, Nevada City 1,231Sale5/22/2019

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