For better or worse “The Hangover” film series may have ended at three, but Hangover 4 may still be heading our way in the form of economic repercussions caused in large part by governmental over-imbibing in the national money supply. While the pandemic and related shutdowns clearly warranted monetary stimulus, as can be the tendency with alcohol, it can be difficult to know when to stop partaking.
The pleasant effects of our post pandemic “intoxication” have been robust job creation, low unemployment, strong wage growth, increasing retail sales, resurging service/travel sector and strong manufacturing. However, with “last call” now upon us momentary feelings of optimism are being swallowed up by dropping consumer confidence and fears of recession due to soaring inflation and rising interest rates, which are beginning to have a palpable effect on pocketbooks.
The recommended cure for a hangover caused primarily by monetary overindulgence is monetary policy in the form of Federal Reserve interest rate hikes that will reduce monetary supply, restrict economic activity and cool inflation, likely leading to a recessionary hangover that won’t go away anytime soon.
While clouds are on the horizon, we can take solace in the fact that the Sierra Foothills market is not overbuilt and we live in a highly desirable area that will see enduring demand.
| AVAILABLE FOR SALE - Q3 2022 | |||
|---|---|---|---|
| Location | Sq. Ft. | Price | Price/SF |
| Industrial | |||
| 12481 Charles Dr, Grass Valley | 34,950 | $4,800,000 | $137.34 |
| 972 Golden Gate Ter, Grass Valley | 4,864 | $799,000 | $164.27 |
| 174-178 Lower Grass Valley Rd, Nevada City | 8,590 | $1,249,000 | $145.40 |
| 110 Spring Hill Dr # 4, Grass Valley | 3,952 | $605,000 | $153.09 |
| Office | |||
| 10015 Alta Sierra Dr, Grass Valley | 4,176 | $699,000 | $167.39 |
| 512 - 528 Brunswick Rd, Grass Valley | 6,164 | $995,000 | $161.42 |
| 563 Brunswick Rd # 2, Grass Valley | 1,151 | $199,000 | $172.89 |
| 565 Brunswick Rd # 9, Grass Valley | 1,387 | $179,000 | $129.06 |
| 11235 Cliffs Place, Grass Valley | 1,501 | $479,000 | $319.12 |
| 424 Crown Point Cir, Grass Valley | 16,000 | $3,050,000 | $190.62 |
| 900 Golden Gate Ter, Grass Valley | 20,000 | $3,500,000 | $175.00 |
| 964 Golden Gate Ter, Grass Valley | 5,740 | $795,000 | $138.50 |
| 224 Main St, Nevada City | 4,670 | $1,225,000 | $262.31 |
| 406 - 412 E Main St, Grass Valley | 7,714 | $1,470,000 | $190.56 |
| 2344 & 2352 Nevada City Hwy, Grass Valley | 3,212 | $600,000 | $186.80 |
| 104 New Mohawk Rd, Nevada City | 26,336 | $2,200,000 | $83.54 |
| 908 Taylorville Rd, Grass Valley | 11,676 | $1,350,000 | $115.62 |
| 819 Whispering Pines Ln, Grass Valley | 24,426 | $3,300,000 | $135.10 |
| Medical/Dental | |||
| 563 Brunswick Rd # 10, Grass Valley | 1,463 | $214,000 | $146.27 |
| 1061 E Main St # 104, Grass Valley | 1,813 | $265,000 | $146.17 |
| 1061 E Main St # 103, Grass Valley | 1,224 | $199,000 | $162.58 |
| 300 Sierra College Dr #165, Grass Valley | 4,787 | $1,900,000 | $329.64 |
| Retail | |||
| 210 Broad St, Nevada City | 21,675 | $2,250,000 | $103.81 |
| 214 Broad St, Nevada City | 1,684 | $950,000 | $564.13 |
| 315 Broad St, Nevada City | 4,979 | $1,350,000 | $271.14 |
| 202 Colfax Ave, Grass Valley | 1,492 | $495,000 | $331.77 |
| 206 W Main St, Grass Valley | 3,950 | $750,000 | $189.87 |
| 127 - 129 Mill St, Grass Valley | 1,802 | $599,000 | $332.41 |
| 16282 Mount Olive Rd, Grass Valley | 5,655 | $625,000 | $110.52 |
| AVAILABLE FOR LEASE Q3 2022 | ||||
|---|---|---|---|---|
| Location | Sq. Ft. | Min Base Price/SF | Max Base Price/SF | |
| Industrial | ||||
| 12048 - 12050 Charles Dr, Grass Valley | 1,000 | $1.20 | $1.20 | |
| 972 Golden Gate Ter, Grass Valley | 2,536 | $1.14 | $1.14 | |
| 155 Spring Hill Dr # 201, Grass Valley | 2,777 | $0.54 | $0.54 | |
| Office | ||||
| 120 N Auburn St, Grass Valley | 950 | $1.47 | $1.47 | |
| 131 S Auburn St, Grass Valley | 1,066 | $1.50 | $1.50 | |
| 167 S Auburn St, Grass Valley | 1,100 | $2.00 | $2.00 | |
| 464-458 Brunswick Rd, Grass Valley | 6,116 | $1.60 | $2.05 | |
| 505 Coyote St, Nevada City | 6,749 | $1.65 | $1.65 | |
| 333 Crown Point Cir, Grass Valley | 6,463 | $1.55 | $1.55 | |
| 350 Crown Point Cir, Grass Valley | 5,089 | $1.55 | $1.55 | |
| 355 Crown Point Cir, Grass Valley | 4,800 | $0.60 | $0.60 | |
| 360 Crown Point Cir, Grass Valley | 8,629 | $1.49 | $1.49 | |
| 431 Crown Point Cir, Grass Valley | 11,100 | $0.85 | $0.85 | |
| 443 Crown Point Cir, Grass Valley | 15,264 | $1.25 | ||
| 488 Crown Point Cir, Grass Valley | 5,168 | $1.60 | $1.80 | |
| 964 Golden Gate Ter, Grass Valley | 5,740 | $1.33 | $1.33 | |
| 13100 Grass Valley & 12438 Loma Rica Grass Valley | 4,960 | $0.69 | $0.69 | |
| 200 Litton Dr, Grass Valley | 3,000 | $1.40 | $1.40 | |
| 12190 Loma Rica Drive, Grass Valley | 2,600 | $1.10 | $1.10 | |
| 900 E Main St, Grass Valley | 5,900 | $1.84 | $1.90 | |
| 944 - 1020 McCourtney Rd, Grass Valley | 12,662 | $1.73 | $1.73 | |
| 104 New Mohawk Rd, Nevada City | 12,000 | $0.79 | $0.79 | |
| 101 - 106 Providence Mine Rd, Nevada City | 5,195 | $1.60 | $1.60 | |
| 200 - 208 Providence Mine Rd, Nevada City | 19,716 | $1.60 | $1.60 | |
| 310 Providence Mine Rd, Nevada City | 20,282 | $1.75 | $1.85 | |
| 351 - 356 Providence Mine Rd, Nevada City | 1,736 | $1.78 | $1.78 | |
| 400 Providence Mine Rd, Nevada City | 72,110 | $1.15 | $2.15 | |
| 120 Richardson St, Grass Valley | 271 | $2.21 | $2.21 | |
| 420 Sierra College Dr, Grass Valley | 1,750 | $2.20 | $2.20 | |
| 1012 Sutton Way, Grass Valley | 3,200 | $1.87 | $1.87 | |
| 426 Sutton Way, Grass Valley | 1,460 | $1.63 | $1.63 | |
| 841 - 857 Sutton Way, Grass Valley | 601 | $1.75 | $1.75 | |
| 908 Taylorville Rd, Grass Valley | 1,800 | $1.66 | $1.66 | |
| 819 Whispering Pines Ln, Grass Valley | 5,200 | $0.85 | $0.85 | |
| Medical/Dental | ||||
| 402 S Auburn St, Grass Valley | 2,880 | $1.50 | ||
| 563 Brunswick Rd # 5, Grass Valley | 1,473 | $1.55 | $1.55 | |
| 700 Zion St, Nevada City | 12,000 | $1.07 | ||
| Retail | ||||
| 10052 Alta Sierra Dr, Grass Valley | 540 | $1.35 | $1.35 | |
| 114 Argall Way, Nevada City | 1,159 | $1.21 | $1.21 | |
| 133 Argall Way, Nevada City | 2,700 | $1.25 | $1.25 | |
| 233 Broad St, Nevada City | 4,000 | $2.25 | ||
| 408 Broad St & 405 Commercial Street, Nevada City | 880 | $2.39 | $2.39 | |
| 434 Colfax Ave, Grass Valley | 1,100 | $1.00 | $1.00 | |
| 650 Freeman Ln, Grass Valley | 13,886 | $1.95 | $2.20 | |
| 840 E Main St, Grass Valley | 5,000 | $1.60 | $1.60 | |
| 138 E Main St & 131 Richardson St, Grass Valley | 2,187 | $1.01 | $1.01 | |
| 111 W McKnight Way, Grass Valley | 10,649 | $1.50 | $2.15 | |
| 127 - 129 Mill St, Grass Valley | 1,000 | $1.05 | $1.05 | |
| 2032 - 2118 Nevada City Hwy, Grass Valley | 5,525 | $1.56 | $1.56 | |
| 399-471 Sutton Way, Grass Valley | 4,311 | $1.30 | $1.35 | |
| 526-720 Sutton Way, Grass Valley | 2,250 | $2.85 | $2.85 |
| RECENT TRANSACTIONS - Q3 2022 | |||
|---|---|---|---|
| Location | Sq. Ft. | Sale/Lease | Close Date |
| 360 Crown Point Cir, Grass Valley | 4,735 | Lease | 6/1/2022 |
| 352 Providence Mine Rd, Nevada City | 1,503 | Lease | 6/15/2022 |
| 426 Sutton Way, Grass Valley | 1,120 | Lease | 7/1/2022 |
| 110 Spring Hill Dr #14 - 17, Grass Valley | 7,095 | Sale | 7/13/2022 |
| 399-471 Sutton Way, Grass Valley | 38,230 | Sale | 7/18/2022 |
| 107 Bank St, Grass Valley | 4,247 | Sale | 7/19/2022 |
| 11954 - 11956 Charles Dr, Grass Valley | 3,700 | Sale | 7/29/2022 |
| 129 Idaho Maryland Rd, Grass Valley | 8,000 | Lease | 8/1/2022 |
| 860-870 Sutton Way, Grass Valley | 1,704 | Sale | 8/18/2022 |
| 1101-1105 Sutton Way | 8,000 | Sale | 9/16/2022 |
| 230 Colfax Ave, Grass Valley | 4,084 | Sale | 9/30/2022 |
