Leasing

Third quarter 2018 marked the lowest downtown Walnut Creek vacancy rate in more than a year as it dropped to 4.5%, and veteran retail broker John Sechser makes a break for TRI Commercial amid growing development.

“This development not only adds high-end, new rental units in a neighborhood that has extremely high demand and very low supply, but it also adds appealing new retail tenant that serve the area,” says Jim Darrow, principal with Essex Realty Group.

Certainly, there are risks when it comes to owning a net lease medical property and due diligence is essential but the future is bright for the sector.

Hunter plans to operate a full-service International/Navistar heavy- and medium-duty truck dealership and an Idealease heavy- and medium-duty truck leasing company at the location.

“Hyatt's departure presented a once-in-a-generation opportunity to diversify our customer community and welcome a modern array of companies across industries and sectors,” says Greg Tait, senior leasing director for Irvine Company Office Properties' Chicago portfolio.

New DFW multifamily projects are taking a long time to stabilize, using 90% occupancy as the benchmark, and some properties that delivered in 2016 or early 2017 are still working on initial lease-ups.