Not unlike many other US markets, midtown and downtown Sacramento have benefited from recent population growth, primarily fueled by millennials and baby boomers increasingly eschewing the suburbs for a more urban lifestyle. Regional employers have begun to… Read More
Overall construction costs for commercial office buildings and tenant improvement projects will continue to rise in the San Francisco Bay Area through 2016 and perhaps as far out as 2020, according to research analyzed by project management experts at JLL.
JLL’s analysis of national and regional labor and materials data suggests that while the price of construction materials is likely to trend downward in 2016 – the result of… Read More
Owners of hotel properties in the San Francisco Bay Area face a conundrum: the economy, buoyed by tech sector expansion, is pushing hotel occupancy and average daily room rates higher. A study this summer conducted by Bloomberg showed that average room rates in San Francisco had leaped by 88 percent to $397 a night, making it the priciest destination among the world’s top financial centers. … Read More
By: Katherine Billingsley, Research Analyst | Oakland-East Bay
The tech sector has been good to the Oakland-East Bay Area in recent years. Talks of tech takeover continue to make its way through the East Bay circuits, and as markets like San Francisco and Silicon Valley continue to tighten, startups and veteran tech tenants are looking to the sunny side of the Bay for relief. This trend is discussed in more detail in JLL’s… Read More
San Francisco remains the most attractive market in the United States for tech companies, and this has driven rent growth to double in the last five years to $66.80 per square foot, and vacancy to fall to just 8.4%. The climate of this market is detailed in JLL’s Technology Office Outlook which seeks to illustrate the growing and existing influence of Tech companies throughout the US.
Will Loftis, Vice President – Healthcare, PDS Northwest
Will Loftis is vice president and leader of healthcare project and development services at JLL for the northwest region, which includes Northern California. He works out of the firm’s offices in San Francisco. Before coming the global real estate services firm, he had been a design principal… Read More
Large Sacramento law firms looking to renew their leases downtown in the short term may have few options to choose from. Space is being increasingly taken up by the State of California‘s expansion into the area.
We see growth in rental rates for the downtown area continuing over the next 12-24 months, with the overall market turning back towards landlords starting in 2017.
Law firms with leases set to expire within the next two years face tough decisions regarding renewal. Landlords across San Francisco are pushing for longer lease terms in an attempt to lock in today’s rates, despite expected market trends.
However, firms may have an advantage with some landlords who are seeking to diversify their highly tech-based tenant rosters.
If your firm is looking for new high-end space it may want to… Read More
By: Ruby Bolaria and Amber Schiada, JLL Research – Northern California & Rocky Mountain Region
Central SOMA plan overview
In 2011, the San Francisco Planning Department began the process to develop an integrated community in the southern portion of the Central Subway rail corridor, surrounding 4th Street between Townsend and Market Street. The Central SOMA Plan proposes a comprehensive strategy… Read More
There’s definitely a lot of excitement surrounding Oakland these days, and it seems like that’s only going to increase since Uber announced their purchase of Uptown Station from Lane Partners last month.