Get Adobe Flash player
Archives

East West Commercial Real Estate Sacramento

Regional Vice President, Brian Jacks, discusses South Sacramento’s commercial real estate is attracting new retail tenants:

“The last few years of economic distress has clearly taken its toll on the Sacramento commercial real estate market. One prime example involves the 2009 closing of a 130,000 square foot Wal-Mart facility in Southgate Plaza, located on the southeast corner of Florin Road & Franklin Blvd in South Sacramento.” Sacramento Commercial Real Estate Digital Sign 2Click Here to Read More!

Share

East West Commercial’s Regional Vice President, Brian Jacks, is featured in the Sacramento Business Journal for the recent lease of Hacker Lab. Mark Anderson of the Sacramento Business Journal writes,” Gina Lujan took a big leap of faith Monday, agreeing to move Hacker Lab in September from its 850-square-foot office to a 10,480-square-foot building in downtown Sacramento. Hacker Lab rents desk space and office space to startups ranging from software developers to web designers. The collective shares some equipment and some of the tenants mutually support others with equipment and expertise.” Click Here to continue reading!

Share

Get ready for an infusion of entrepreneurship and software development that is now steadily growing in the Capital region.

Early this year, Gina Lujan, a native of Sacramento, left the Bay Area to return home. After successfully creating a collaborative workspace environment for software developers in Berkeley, she decided to replicate the business model and expand the vision in Sacramento. Around March 2012, Hacker Lab signed a commercial real estate lease for 850 square feet of second floor office space above Pangaea Café, located at 2743 Franklin Blvd in Sacramento. The space was used to provide rented desks and/or offices for local software developers who wanted to work in a tech community environment. Click Here to Continue Reading!

Share

Despite declining retail vacancy rates, it’s still a tenant’s market throughout the Sacramento Commercial Real Estate landscape. The overall Sacramento retail vacancy rate dropped slightly to 9.8% during the 2nd Quarter of 2012, according to Voit Real Estate Services, who was recently quoted by the Sacramento Bee. This represents the second quarter in a row that commercial retail vacancy ended below 10%. According to the same source, commercial real estate vacancies within the Sacramento submarket of Carmichael reflect a much higher level of 11.3%. This phenomenon of higher retail vacancy rates often creates dramatic opportunities for businesses to sign commercial real estate lease transactions that are quite favorable to tenants. Click Here to read full article.

Share

Overall improvement in the private-sector job market and the tenuous single-family housing market will continue to prop up the southern California apartment sector through the year. Increased hiring in the professional and business services sector has supported stronger household formation growth. Gen Y will begin to move out of the nest as they become comfortable with the economic environment and feel secure with their job. This will contribute to household formation especially in the professional areas of Orange County, San Diego and Los Angeles. In Los Angeles, the number of households expanded 1.3 percent this last year, marking one of the highest rates since the late nineties. With single-family home prices on a steady decline since the fourth quarter of 2010, most of the new households will reside in multifamily properties. The growing trend to watch are the Baby Boomers beginning to shift toward retirement living from single family homes. This may bode well for some multi-family properties, but the majority of the growth will come in the senior living sector.

 

Low interest rates and strong buyer interest will motivate apartment owners to list assets in 2012, especially those who missed the strong run-up during the 2003-2007 period. This trend has already taken hold and there is a surge of 1031 exchange transactions occurring. Beach communities, as well as prime neighborhoods along the 405 and 5 corridors can offer investors returns anywhere in the high-4 to low-5 percent range. Value-add plays in more tertiary markets of the Inland Empire, north Orange County, portions of Los Angeles, and along the inland 78 corridor of San Diego and East County yield in the high-6 to low-7 percent area, depending on deferred maintenance. The hardest hit areas of the Inland Empire still maintain yields in the mid 7 to 9 percent range, due to the lingering unemployment rate and the single family housing inventory.

 

Operators will still find it difficult in some of the tertiary markets to fill units and raise rents above the rents of repositioned homes and the shadow inventory that still exists especially in portions of Inland Empire, Los Angeles county and north Orange County. Meanwhile, individuals who work in Los Angeles or Orange County are flocking to areas such as Corona, Ontario, Fontana, Chino and Corona in order to cut commutes but maintain affordable rents. The Riverside-San Bernardino market will continue to see increased activity as value-add investors and prudent buyers continue to snap up REO and distressed properties.

 

In San Diego the apartment market’s supply and demand ratio is leaning heavily toward the demand side of the equation, which is allowing owners to reduce concessions and raise rents. Effective rents will reach an all-time high in 2012 and the vacancy rate is still compressing toward 4-5% for well positioned properties in attractive markets and higher cap rates in the mid 6 to mid 7 percent range in East County and inland. These areas will attract new construction, so the risk is offset by higher yields. All in all, the investor pool exceeds the supply of for-sale properties, creating a competitive buying environment. More properties may come to market as investors see this as a good time to attract high prices for their properties.

 

Share

Sacramento Vice President, Brian Jacks, mentioned in the Sacramento Business Journal for recent closing of 13 unit apartment complex in South Sacramento. Click Here to read full article.

4720 Roosevelt Ave

Article contributed by Brian Jacks

Brian Jacks is a Sacramento commercial real estate broker (since 1996) specializing in commercial leasing and investment sale transactions for retail, shopping centers, multifamily, apartments, senior housing, office, industrial, mixed-use, and special purpose properties.  Having spent over 20 years with Wells Fargo, he personally facilitated the underwriting, approval and funding of approximately 250 loans totaling over $1 billion in loan proceeds.

 

Jacks is a Regional Vice President for EAST WEST Commercial Real Estate, a full service commercial real estate brokerage advisor based in Orange County.  In addition to serving the Sacramento marketplace, he is also responsible for the company’s current expansion into the San Francisco Bay Area.  For more information, contact Brian Jacks at (916) 837-3456 or Brian.Jacks@EastWestCommercial.com.

 

About EAST WEST Commercial Real Estate

 

EAST WEST Commercial Real Estate is a full service commercial real estate brokerage advisor specializing in investment sales, commercial leasing and finance for retail, office, industrial multifamily, senior housing, self-storage, mixed-use and special purpose properties throughout California and Arizona.  The firm is headquartered in Orange County, CA.  Brokerage offices include Sacramento, San Francisco, Walnut Creek, San Jose, Oakland, Los Angeles, San Diego, Orange County, Riverside, San Bernardino and Phoenix.  Other services include bank REOs, 1031 exchanges, nationwide commercial Business Opinions of Value (BOV’s) and Broker Price Opinions (BPO’s), mortgage brokerage, lender services, and asset management.

 

Social Media Links

 

Twitter – http://www.Twitter.com/SacCommercialRE

Google Plus – http://www.GPlus.to/SacCommercialRE

Facebook – http://www.Facebook.com/SacCommercialRE

YouTube – http://www.YouTube.com/SacCommercialRE

LinkedIn – http://www.LinkedIn/In/bjacks

 

Visit Our Websites

 

http://www.Sacramento-Commercial-RealEstate.com

http://www.EastWestCommercial.com

http://www.EastWestCaptialAdvisors.com

http://www.CommercialBrokerPriceOpinion.com

Share

Vice President, Brian Jacks, of East West Commercial Real Estate was interviewed in by Sacramento Business Journal’s staff writer, Mark Anderson, in his exclusive article, “Galleria refinance hints at easing market.” Anderson writes, “The recent $275 million refinancing of the Westfield Galleria at Roseville not only demonstrates the mall’s economic strength — it also is a sign, some say, that the capital markets are finally beginning to free up.”

Click Here to Read More.

Article contributed by Brian Jacks

Brian Jacks is a Sacramento commercial real estate broker (since 1996) specializing in commercial leasing and investment sale transactions for retail, shopping centers, multifamily, apartments, senior housing, office, industrial, mixed-use, and special purpose properties.  Having spent over 20 years with Wells Fargo, he personally facilitated the underwriting, approval and funding of approximately 250 loans totaling over $1 billion in loan proceeds.

 

Jacks is a Regional Vice President for EAST WEST Commercial Real Estate, a full service commercial real estate brokerage advisor based in Orange County.  In addition to serving the Sacramento marketplace, he is also responsible for the company’s current expansion into the San Francisco Bay Area.  For more information, contact Brian Jacks at (916) 837-3456 or Brian.Jacks@EastWestCommercial.com.

 

About EAST WEST Commercial Real Estate

 

EAST WEST Commercial Real Estate is a full service commercial real estate brokerage advisor specializing in investment sales, commercial leasing and finance for retail, office, industrial multifamily, senior housing, self-storage, mixed-use and special purpose properties throughout California and Arizona.  The firm is headquartered in Orange County, CA.  Brokerage offices include Sacramento, San Francisco, Walnut Creek, San Jose, Oakland, Los Angeles, San Diego, Orange County, Riverside, San Bernardino and Phoenix.  Other services include bank REOs, 1031 exchanges, nationwide commercial Business Opinions of Value (BOV’s) and Broker Price Opinions (BPO’s), mortgage brokerage, lender services, and asset management.

 

Social Media Links

 

Twitter – http://www.Twitter.com/SacCommercialRE

Google Plus – http://www.GPlus.to/SacCommercialRE

Facebook – http://www.Facebook.com/SacCommercialRE

YouTube – http://www.YouTube.com/SacCommercialRE

LinkedIn – http://www.LinkedIn/In/bjacks

 

Visit Our Websites

 

http://www.Sacramento-Commercial-RealEstate.com

http://www.EastWestCommercial.com

http://www.EastWestCaptialAdvisors.com

http://www.CommercialBrokerPriceOpinion.com

Share

Less than two months ago, I received a call from a San Jose based apartment investor who had become disenfranchised with the continued rise in commercial real estate prices throughout the Bay Area.  A simple comparison of apartments for sale in both Sacramento and San Jose (within specific parameters) resulted in an average difference in cap rate (annual yield) of 3%.  The San Jose apartments we considered offered an average cap rate of 5.7%, while the Sacramento apartments offered 8.7%.  It doesn’t take a genius to realize that a higher yield on a commercial real estate investment means more cash in the investor pocket.  Naturally, the investor decided it made more sense to invest in commercial real estate (apartments) here in Sacramento, which is once again becoming quite a predictable phenomenon, as discussed in this 1st Quarter 2012 Multifamily Investor Newsletter.

Click Here to Read More!

Share

What an honor it was to be invited to participate in a Legislative Summit sponsored by the California Asian Pacific Chamber of Commerce at the California State Capitol in Sacramento.  It’s 3rd annual event, held on June 20, 2012, was effectively a pro-business lobby day where 5 small groups, each with four business leaders, descended upon the offices of more than 50 California State Senators and members of the State Assembly.  The purpose of these meetings was to offer support in terms of pro-business legislation that is are currently circulating in the State Capitol of Sacramento. Click Here to read more.

Share

Vice President and Regional Director, Brian Jacks, recently acquired a new restaurant listing in Sacramento, California, Costa Azul. This 7,625 SF restaurant’s new listing caught the eye of Sacramento Business Journal writer, Mark Anderson who recently interviewed Brian Jacks about his new listing in Tuesday’s article. Click Here to read the full article.

Share