2013 North Bay Commercial Real Estate Review

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 JournalNorth Bay properties can draw northward migration of Bay Area creativityRegion can tap creative energy; BEST effort has potential

By Al Coppin, president, Keegan & Coppin, Co., Inc./ONCOR International

The projected growth of the national economy looks sluggish at best. Previously forecasted gross national product growth of 2.5 percent is expected to be shaved to fairly bleak growth of 1.0 percent to 1.5 percent. You can’t reduce unemployment without at least 3.5 percent growth. [read more]San Rafael, Novato most-active Marin office markets

By Haden Ongaro, Cornish & Carey Commercial Newmark Knight Frank

Despite 220,000 square feet of user-controlled inventory added to the market in Novato and San Rafael in 2012, net absorption of office space for the year was 46,000 square feet. For the Marin market as a whole, net absorption was slightly negative. [read more]Balance tips to owners in southern Marin

By Whitney Strotz, Cassidy Turley

The balance of power in the office market in southern and central Marin County continues to move in favor of landlords. [read more]Downtown Napa energy attracts Gen Y retailersArrival of ‘soft goods’ fills in retail mix

By Cathy D'Angelo Holmes, Coldwell Banker Commercial Brokers of the Valley

Drive along First Street in downtown Napa, and you might find yourself saying, “It looks like ‘they’ haven’t done a thing in the last year.”

That is so not true. In mid-2012, Napa Town Center was purchased by developer Todd Zapolski, who has renamed it The Shops at Town Center. A name change was the easy part. Reformatting 150,000 square feet and adding a new hotel is no small task in the world of retail development. [read more]Santa Rosa office space demand ‘modest’Rent for highest-class space climbs as options dwindleBy Dave Peterson, Keegan & Coppin Co. Inc./ONCOR International

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