We hear the US is now 10 years into an economic expansion and real estate recovery. However, the local Sierra Foothills economy, including Western Nevada County, has historically lagged economic indicators in the greater Bay Area and Sacramento regions, and this recent expansion appears no different. In fact, local trends seem to indicate that we are only about 5 years into positive economic activity. While national prognosticators are now warning of an economic softening and market correction, might our local economy just be hitting its stride with several more years of positive economic activity on the horizon? Baby Boomers and Millennials may help provide the answer.
The sheer numbers of Millennials and Baby Boomers mean that these groups remain the most influential drivers of our economy. Nevada County is well-known as a retirement haven for boomers who continue flocking to the area. Now, in addition to the boomers, we are noticing a growing swell of interest in the area from Millennials, now with kids, looking to relocate here for a more wholesome environment to raise their families. More affordable housing, abundant outdoor recreation, quality health care, low crime, diverse school choice, less congestion and other quality of life characteristics of our Gold Country environment create a strong current that I believe may continue to keep our local economy growing for some time to come – in spite of recent concerns of a slowdown.
| AVAILABLE FOR SALE Q1 2019 | |||
|---|---|---|---|
| Location | Sq. Ft. | Price | Price/SF |
| Industrial | |||
| 11976 Charles Dr, Grass Valley | 2,550 | $355,000 | $139.22 |
| 174-178 Lower Grass Valley Rd, Nevada City | 8,320 | $1,249,000 | $150.12 |
| 310 Railroad Ave #300, Grass Valley | 2,736 | $399,000 | $145.83 |
| Office | |||
| 563 Brunswick Rd # 2, Grass Valley | 1,151 | $220,000 | $191.14 |
| 972 Golden Gate Ter, Grass Valley | 4,864 | $699,900 | $143.89 |
| 104 New Mohawk Rd, Nevada City | 26,336 | $3,495,000 | $132.71 |
| 351-357 Providence Mine Rd, Nevada City | 10,554 | $1,583,000 | $149.99 |
| 146 Scandling Ave, Grass Valley | 1,316 | $349,950 | $265.92 |
| 143 Spring Hill Dr Ste 1A, Grass Valley | 5,200 | $995,000 | $191.35 |
| Medical/Dental | |||
| 152 Catherine Ln., Suite E & F, Grass Valley | 1,393 | $225,000 | $161.52 |
| 225 Colfax Ave, Grass Valley | 2,545 | $569,000 | $223.58 |
| 411 Coyote St, Nevada City | 1,842 | $615,000 | $333.88 |
| 150 Glasson Way, Grass Valley | 6,462 | $990,000 | $153.20 |
| 1061 E Main St # 103, Grass Valley | 1,224 | $146,800 | $119.93 |
| 1061 E Main St # 201, Grass Valley | 1,137 | $179,000 | $157.43 |
| 105 Margaret Ln, Grass Valley | 2,460 | $399,000 | $162.20 |
| 300 Sierra College Dr #250, Grass Valley | 1,740 | $595,000 | $341.95 |
| 300 Sierra College Dr #165, Grass Valley | 4,787 | $1,450,000 | $302.90 |
| 590 Searls Ave, Nevada City | 5,575 | $2,000,000 | $358.74 |
| Retail | |||
| 210 Broad St, Nevada City | 21,675 | $2,275,000 | $104.96 |
| 231 - 233 Colfax Ave, Grass Valley | 4,440 | $1,400,000 | $315.32 |
| 131-139 Joerschke Dr, Grass Valley | 19,580 | $1,800,000 | $91.93 |
| 206 W Main St, Grass Valley | 3,950 | $895,000 | $226.58 |
| 840 E Main St, Grass Valley | 28,706 | $5,450,000 | $189.86 |
| 123 Mill St, Grass Valley | 1,485 | $923,000 | $621.55 |
| 345 Railroad Ave, Nevada City | 7,884 | $985,000 | $124.94 |
| 1125-1165 Sutton Way, Grass Valley | 24,539 | $3,500,000 | $142.63 |
| AVAILABLE FOR FOR LEASE Q1 2019 | |||
|---|---|---|---|
| Location | Sq. Ft. | Min Base Price/SF | Max Base Price/SF |
| Industrial | |||
| 416 Crown Point Cir, Grass Valley | 14,936 | $0.60 | $0.68 |
| 10141 Evening Star Dr, Grass Valley | 2,750 | $0.90 | $0.90 |
| 201-204 Gold Flat Ct, Nevada City | 3,000 | $0.90 | $0.90 |
| 13355 Grass Valley Ave, Grass Valley | 2,680 | $0.71 | $0.71 |
| 12519 Loma Rica Dr, Grass Valley | 1,348 | $0.93 | $0.93 |
| Office | |||
| 10015 Alta Sierra Dr, Grass Valley | 830 | $1.05 | $1.05 |
| 124 S Auburn St, Grass Valley | 5,100 | $0.55 | $0.55 |
| 131 S Auburn St, Grass Valley | 1,994 | $1.51 | $1.51 |
| 159 S Auburn St, Grass Valley | 2,242 | $1.50 | $1.50 |
| 375 Brunswick Rd, Grass Valley | 6,791 | $1.28 | $1.28 |
| 464-458 Brunswick Rd, Grass Valley | 4,970 | $1.58 | $1.88 |
| 256 Buena Vista St A-F, Grass Valley | 2,247 | $0.85 | $0.85 |
| 214 Church St, Nevada City | 648 | $1.21 | $1.21 |
| 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 Valley | 728 | $1.50 | $1.50 |
| 200 Litton Dr, Grass Valley | 3,000 | $1.40 | $1.40 |
| 12438 Loma Rica Drive, Grass Valley | 9,312 | $0.69 | $0.69 |
| 900 E Main St, Grass Valley | 7,700 | $1.63 | $2.09 |
| 944 - 1020 McCourtney Rd, Grass Valley | 4,030 | $1.55 | $1.55 |
| 2322 Nevada City Hwy, Grass Valley | 1,632 | $1.04 | $1.04 |
| 205 - 207 N Pine St, Nevada City | 1,250 | $1.40 | $1.40 |
| 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 |
| 351-353 Providence Mine Rd, Nevada City | 1,152-1,704 | $1.60 | $1.90 |
| 357 Providence Mine Rd, Nevada City | 1,800 | $1.75 | $1.75 |
| 400 Providence Mine Rd, Nevada City | 6,265 72.110 | $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 |
| 113 Presley Way, Grass Valley | 918 | $0.98 | $0.98 |
| 404 Sierra College Dr, Grass Valley | 1,000 | $2.00 | $2.00 |
| Retail | |||
| 477 S Auburn St, Grass Valley | 900 | $1.55 | $1.55 |
| 102 Catherine Ln, Grass Valley | 2,586 | $1.15 | $1.15 |
| 650 Freeman Ln, Grass Valley | 18,396 | $2.20 | $2.20 |
| 128 - 132 E Main St, Grass Valley | 960 | $1.40 | $1.40 |
| 533-537 E Main St, Grass Valley | 14,300 | $1.20 | $1.20 |
| 840 E Main St, Grass Valley | 11,727 | $1.60 | $1.60 |
| 633 - 653 Maltman Dr, Grass Valley | 8,175 | $1.01 | $1.01 |
| 111 W McKnight Way, Grass Valley | 10,275 | $2.06 | $2.06 |
| 2032 - 2118 Nevada City Hwy, Grass Valley | 12,469 | $1.76 | $1.76 |
| 984 Plaza Dr, Grass Valley | 5,000 | $1.35 | $1.35 |
| 1035-1043 Sutton Way, Grass Valley | 2,600 | $1.00 | $1.62 |
| RECENT TRANSACTIONS Q1 2019 | ||||
|---|---|---|---|---|
| Location | Sq. Ft. | Sale/Lease | Close Date | |
| 416 Crown Point Cir, Grass Valley | 15,806 | Lease | 1/14/2019 | |
| 232 Commercial St, Nevada City | 1,710 | Sale | 1/21/2019 | |
| 944 - 1020 McCourtney Rd, Grass Valley | 48,336 | Sale | 1/24/2019 | |
| 11229 McCourtney Rd, Grass Valley | 6,000 | Sale | 1/31/2019 | |
| 102 - 108 Union St, Nevada City | 1,528 | Lease | 2/1/2019 | |
| 13366 Grass Valley Ave, Grass Valley | 7,850 | Lease | 2/1/2019 | |
| 224 Church St, Nevada City | 4,140 | Sale | 2/20/2019 | |
| 108 New Mohawk Rd, Nevada City | 3,000 | Lease | 2/22/2019 | |
| 154 Hughes Rd #10, Grass Valley | 650 | Lease | 2/25/2019 | |
| 12400 Loma Rica Dr, Grass Valley | 3,000 | Lease | 2/28/2019 | |
| 563 Brunswick Rd # 7, Grass Valley | 1,591 | Sale | 3/19/2019 | |
| 216 Main St, Nevada City | 2,598 | Sale | 3/26/2019 | |
| 150 Catherine Ln., Suite D & E, Grass Valley | 2,189 | Sale | 3/26/2019 |
