A Statement On Ukraine from Kevin Maggiacomo, SVN President and CEO

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Sacramento, CA | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : Sacramento, California

bridge-67773_1280The economic recovery in California’s capital city has lagged those in Los Angeles, Phoenix and other markets that it has followed more closely in the past. The jobless rate ended 2013 at 8 percent, better than the statewide rate of 8.3 percent, but Sacramento hasn’t yet recovered the number of jobs it lost in the last recession. An office vacancy rate in the middle teens has been falling slowly and began 2014 down about 300 basis points from its peak in 2011. Mildly positive absorption over the past two years contributed to a bottoming out in rental rates in 2013 and the beginnings of a turnaround in rent levels in early 2014. Developers have shown restraint in adding new supply, and fundamentals should improve incrementally this year. While its slow job growth elevates risk, Sacramento offers investment opportunities at higher cap rates than are available in many California markets experiencing a more rapid recovery.

To read more on Sacramento, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandon-Office-CoverOffice Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Apartment Trends and Markets to Watch
Commercial Real Estate Trends to Watch

Five for Friday with Don Ellwanger of Sperry Van Ness/Don Ellwanger

This week, Five for Friday features Don Ellwanger, senior vice president at Sperry Van Ness/Don Ellwanger in Sacramento, Calif.

Don Ellwanger, senior vice president at Sperry Van Ness/Don Ellwanger
Don Ellwanger, senior vice president at Sperry Van Ness/Don Ellwanger

1. What is your geographic market and product specialty?

I work in the greater Sacramento area and I specialize in retail investment sales and leasing, and agriculture land.

 

2. What’s your latest best practice tip that you can share?

Get out of the office more. Make it a priority to meet with more clients and do more cold calls.

 

3. What’s been the biggest change in how you run your business in the past decade?

I’ve been keeping in constant contact with my investors, and lately, I’ve been doing a greater number of smaller deals ($500,000 to $2 million).

 

4. What business book do you like to recommend to your colleagues?

The Magic of Thinking Big by David Schwartz

 

5. What’s a fun fact that not everyone knows about you?

When I’m not working, I enjoy trout fishing and duck hunting.

 

*All Sperry Van Ness® offices are independently owned and operated.