Government, Healthcare, and Professional Business Services drives office leasing velocity over last two years
Leasing velocity is dominated by the government, healthcare, and the professional business services industries
June 04, 2019
- Continuing a long time trend seen in the Sacramento office market, leasing velocity was dominated by the government, healthcare, and the professional business services industries with those industries accounting for a combined 45.7% of all new leasing activity over the last two years.
- Other industries of note include the coworking industry which accounted for just over 3.0% thanks to major leases signed by major players WeWork and Regus and the high tech industry at 3.6%, which continues to see growth in Sacramento, albeit modestly.
- As Sacramento continues to grow and attract tenants and residents from the Bay Area we expect to see these other industries continue to grow their percentage of Sacramento’s total leasing activity.
Source: JLL Research, Costar