SACRAMENTO, CA-Brokers in the local office of Voit Real Estate Services have leased or sold 297,000 square feet of office space in Sacramento and Placer counties this year, making the brokerage a dominant deal maker in the California state capitol and surrounding areas, according to figures released by the company.

The transactions include 20 office building sales in both Sacramento and neighboring Placer County, representing 186,000 square feet, and 31 leases, equaling 110,103 square feet.

The busiest submarket was Rocklin/Roseville, located about 20 miles east of Sacramento, where Voit brokers were responsible for 175,000 square feet of building sales and leases. Located near high-end residential areas, Rocklin/Roseville is notable for a high number of owner-occupant sales, primarily in small buildings ranging from 3,000 to 20,000 square feet.

“This is one of the biggest growing markets in the region,” says Robb Osborne, who heads the Voit brokerage team.

Price is one likely reason that many small professional firms have bought their own buildings in the Rocklin/Roseville market. “Most of the business owners live in Rocklin/Roseville, which is a fairly high net-worth area,” says Osborne.

A number of buyers are doctors and dentists seeking to avoid the high lease rates charged by medical office buildings, according to Osborne. Buildings are selling for $175 to $225 per square foot. “In some rare cases, a building that would cost $300 per square foot to replace is available for $150 per square foot,” according to Osborne.

One positive sign: Sacramento reported positive net absorption in the third quarter, albeit only a few thousand square feet, for the firs time since 2009.

Instant Insights /

Voit Brokers 297,000 SF in Office Sales, Leases This Year

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