Report | Sacramento Office Insight - Q1 2016
As Sacramento’s unemployment rate hit a new post-recession low, government agencies and healthcare industry groups led overall office market expansion in Q1. The CBD did especially well during 2016’s first quarter.
Migrations from nearby markets and state agency expansions helped shrink the CBD’s vacancy rate to its lowest figure since 2007—13.0 percent—giving landlords more leverage. We expect rental rents to continue pushing forward with no new deliveries near-term.
With large blocks dwindling across the area, only the Highway 50 Corridor has significant remaining availability. As of Q1 2016, 71 percent of its available space is large block.
Learn more about what’s happening right now in Sacramento—and what we can expect over the next couple months—by downloading our Q1 2016 US Office Insight.
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