Wednesday, October 26, 2016

Colliers Sacramento 3Q Office & Research Report

Sacramento’s Colliers International third quarter report found that the downtown market was preforming well while suburban growth has takes off. As reported by Colliers, office real estate absorption is positive and vacancies went down. The downtown office vacancy market is the lowest it’s been in 5 years, but it’s suburban expansion that continues to meet growing demand. Third quarter rental absorption was 372,254 sf, while only 80,899 sf was in the downtown market.

This rosy report then brings up the question, what’s going on with the Vanir Tower on J Street. It was proposed two years ago in November, yet nothing has been submitted to the Planning and Design Commission even though a news report in November of last year said it could be built taller. I’ve seen this game before, at this point the developer only appears to be looking for free publicity.


Mark Sharp said...

Vanir Tower is a joke. Seriously, those guys haven't done anything but make pretty renderings.

Chris Norman said...

If every tower that has been proposed in the last twenty years had been built, the Sacramento skyline would be like SanFrancisco. Talk about demoralizing.