Report: Office Leasing Up In Sacramento
A new report finds that, between April and June, Sacramento recorded the strongest quarter of leasing activity in nearly eight-years.
Elliot Williams is with Jones Lang LaSalle – the commercial real estate firm that released the data. He says “total vacancy” is now at 20.5%. However, that’s still considered high.
“The flipside to that would be if you looked at occupancy. We’re about 79.5% occupied across the whole market. In Sacramento, if you go back to the 2006-2007 thresholds we were really approaching probably in the high 90s as far as occupancy…vacancy below 10%.”
Williams says companies leading the demand for office space during the second quarter were mostly law firms, healthcare companies and professional services.