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Sacramento multifamily rent prices have been among the fastest rising in the country during the last two years but another Sacramento city follows suit, increasing by 8.5% year-over-year, entering the top 10 with highest US rent increases.
Vacancies in Silicon Valley ran slightly higher in fourth quarter 2017 than national figures at 10.2% and rents in the Valley outpaced national rates at $46.92, which is 63.3% higher than the rest of the US.
After a joint venture recently acquired a former Macy's building, Paseo Nuevo Shops & Restaurants is now positioned to repurpose the building to fit community needs and better serve the retail environment.
Bridgecourt is one of the first apartment communities after crossing the Bay Bridge into Emeryville, which makes it a viable option for professionals and families priced out of San Francisco's rental market.
Stem was chosen by Kilroy Realty Corporation to deploy more than 7.5 MWh of artificial intelligence-driven energy storage at eight office buildings in its California portfolio to reduce the environmental impact.
During the last three years, valuation and advisory has evolved into something full-service companies see as a critical part of offerings as firms gravitate to specialization in property sectors and geographic regions.
As of December 2017, Sacramento's annual rent growth was 6.2%, while the national average was 2.2%, as rents have risen every quarter for the past five-plus years, making it one of the fastest growing US cities.
WeWork's big splash in San Jose offers an intriguing alternative to firms looking for scalability and flexibility; options that have been in short supply in the Valley's office market, according to Savills Studley.
A 445,000-square-foot lease by Analog Devices brings the 1.7-million-square-foot Santa Clara Square to 91% leased, and comes two weeks after Hitachi Vantara announced a 222,500-square-foot lease.
Originally developed in 1920, Emeryville Public Market underwent renovations in 1988 and 2017, and will consist of 167,770 square feet that is anchored by a gourmet food hall and national/regional tenants.