Monday, June 24, 2019

“There Won't Be Any Slowdown In Sacramento Anytime Soon”

Colliers has made a big prediction about Sacramento’s future economic growth… they say there won’t be any slowdown in Sacramento anytime soon. I know right, how can they say this? Colliers sent out a Weekly Market Insights newsletter listing 7 reasons why. The Colliers crystal ball is ripe with opinions as well as some data to back it up.

Here are 7 reasons:

1. Alameda-based Penumbra is opening a 160,000 SF office in Roseville later this year, bringing 200 new jobs, with a possible second phase with 1,000 more jobs in the future

2. The State of California is running a $21B budget surplus and is building more than $4 billion worth of new office buildings in Downtown Sacramento

3. US Foods is building a 355K SF, $71.6M distribution center in McClellan Park and will bring up to 180 new jobs

4. Centene will be consolidating offices to its under construction 1.25M SF office campus in North Natomas with 3,000 new jobs

5.Healthcare continues to drive job growth throughout the region, adding thousands of jobs year after year with companies like Kaiser Permanente, Dignity Health, Adventist Health (just completed and occupied its new corporate headquarters), UC Davis, and Sutter Health all active in the medical office leasing and development

6.Bay Area companies and residents continue to flock to Sacramento seeking lower cost of living and better lease terms for both office and industrial real estate

7. Downtown Sacramento continues its encouraging pace of revitalization around Golden 1 Center and Sacramento is poised to get its second professional sports franchise with Sacramento Republic close to joining Major League Soccer, which will spur development at the Railyards where Kaiser is starting infrastructure work on its new hospital and a new office project and apartment development are close to starting construction.

Colliers also stated that we are currently celebrating 120 months of economic expansion and there have been few significant layoffs and office closures in Sacramento in recent months and the region continues to attract new companies and residents, experiencing healthy job growth in the 2-3% per year range and population growth around 1.5% a year.

Later this week the Colliers Q2 2019 Sacramento Office report will take a closer look at statistics and transactions.

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Monday, June 10, 2019

Marshall/Hyatt Centric Hotel Brick & Terra Cotta

Marshall/Hyatt historic brick & terra cotta facades
Today the rectangular-shaped historic brick and terra cotta facades are left as the interior of the original structure has been removed. This is a unique project to preserve the historic exterior, keep an eye on how this all comes together.
Marshall/Hyatt historic brick & terra cotta facades

Marshall/Hyatt historic brick & terra cotta facades