Each year, the Business Journal turns to leading commercial real estate professionals across the North Bay to share their data and insights on the state of the markets and the outlook for the year. We want to say thank you, again, for their time and willingness to share their knowledge. ---The Business JournalSolid growth for North Bay commercial property
It looks like 2014 will be a sold growth year for the national economy as well as the North Bay counties.Scant North Bay retail space holds back growth
For all of the talk of the dreaded impact of e-commerce, the North Bay’s shopping center marketplace boasted a vacancy rate of just 4.5 percent heading into 2014.Sonoma CountySanta Rosa office awaits boost from job gains
The Santa Rosa office market remains in transition gaining momentum as the first quarter of 2014 comes to a close.
The past few years have been some of the most challenging for office building owners in decades.
However, since the first of the year, we have seen an increase in tenant demand and office-space tours.Vacancy falls near Sonoma County Airport
The Sonoma County Highway 101 north corridor real estate office market saw a decrease in fourth-quarter vacancy rates in 2013 from 2012, and industrial vacancy there decreased dramatically.Sonoma County is tops in multifamily property
The Sonoma County apartment market continues to be a shining star in the North Bay. On the heels of another year of strong sales and rental activity, Sonoma County can include itself among the top rental markets in the country.
2014 looks to be another strong year for apartment investments and operations.Petaluma becomes target tenant market
Through a series of purchases, developments, and leases, Petaluma suddenly became a target market.
We will see a steady market throughout the balance of 2014 without too much upward pressure on price for office and minor upward pricing on industrial.Solano CountySolano builds on wine industry success
The new development consists of large warehouses with good clear height, such as two massive buildings in Fairfield.
Caymus Vineyards, a producer of high end Napa Valley wine, is expected to begin construction of a 5.5 million gallon-a-year winery near Fairfield this spring.Marin CountySouthern Marin welcomes priced-out SF tenants
Rental rates for premium office space in central and southern Marin continue to increase, and the data indicates that trend will continue for the near term. As the limited supply of quality office space continues to decline, landlords continue to raise pricing.Tech leads north Marin office deals
Both San Rafael and Novato experienced increased activity from a leasing and sales perspective for office buildings in 2013 and through the first quarter of this year.
Biotech companies led the sales and leasing charge.
Expect office buildings to sell at the highest pricing levels since 2007.Strong sellers’ market for Marin apartments
Buyers of Marin apartments discovered that there was a big spread between existing rents and current market rents and continued to seek these rental properties.
Investors can expect to see a continuing strong sellers’ market in 2014 as inventory remains tight.Napa CountyNapa industrial market tightest in 15 years
Thanks to significant leases and building sales in 2013, the business parks of southern Napa County have the lowest vacancy rates in more than 15 years.
With the extremely low vacancy numbers in both Napa and Solano counties, several new speculative warehouse buildings are scheduled to be under construction in 2014.Napa adds dozens of retailers in past year
So much focus in on downtown Napa. However, the city has enjoyed some national retailers in other areas.
