industrial report 3q cassidy turley...420 n. pioneer ave., 19,202 frontier ag company lease...

Offi ces in Burlingame, Capitola, Monterey, Oakland,

Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco,

San Jose, San Rafael, Santa Rosa, Walnut Creek

Broker Lic #00825241 www.ctbt.com

City, State Year

IndustrialReport

Sacramento ValleyThird Quarter 2011

SACRAMENTO VALLEY INDUSTRIAL

-2,000

-1,000

0

1,000

2,000

3,000

2006 2007 2008 2009 2010 2011

Squ

are

Feet

(000

s)

9%

10%

11%

12%

13%

14%

2006 2007 2008 2009 2010 2011

Net Absorption

Vacancy

4-Year Average

Vacancy12.6%

Net Absorption538,662 SF

Deliveries0 SF

Asking Rent$0.35 NNN

Market Tracker*Arrows = Current Qtr Trend

Industrial Market SnapshotSacramento Valley • Third Quarter 2011

www.cassidyturley.com

Economic Indicators

Q3 11 Q3 10

Sacramento Valley Employment

1.032M 1.048M

Sacramento Valley Unemployment

11.89% 12.47%

U.S. Unemployment 9.1% 9.6%

U.S. CCI 49.93 50.94

*Includes El Dorado, Placer, Sacramento & Yolo Counties

Market Records Second Consecutive Quarter of Growth Despite Doldrums

As of the close of the third quarter, industrial vacancy within the Sacramento industrial market stood at 12.6%, down from the 13.0% mark recorded just three months ago. This is the second consecutive quarter in which the market has posted declines in vacancy—the last time that this happened was in 2007. This is despite the fact that the Sacramento economy remains challenged by an 11.9% unemployment rate and the fact that the national economy has been mired in a crisis of confidence since August. In many of Northern California’s industrial markets, space users have reacted to the heightened sense of economic uncertainty by scaling back, postponing or even cancelling growth plans. But while many of the Bay Area’s markets went backwards this quarter, Sacramento turned in a strong quarter thanks to growth from energy (primarily solar) and food users seeking the region’s cheaper rents. All told, the market absorbed 539,000 square feet of space this quarter—it’s strongest performance since the fourth quarter of 2007. Year-to-date the market has recorded over 603,000 square feet of occupancy growth.

The West Sacramento submarket led all other trade areas in terms of occupancy growth this quarter, recording 234,000 square feet of growth with vacancy decreasing from 7.9% to 6.5%. The average asking rent here has remained stable near the $0.36 per square foot mark (on a monthly triple net basis) for most of the past year. The Power Inn submarket followed, with 175,000 square feet of positive net absorption, dropping vacancy from 10.9% to 10.2%. Rents here have also remained stable at roughly $0.34 per square foot over the past year. The Sunrise submarket recorded 112,000 square feet of occupancy growth , driving vacancy downward from 13.4% to 12.1%. The average asking rent here stands at $0.40 per square foot, down from $0.45 one year ago.

Of Sacramento’s 16 major trade areas, only five submarkets recorded occupancy losses during the third quarter. The Natomas/Northgate market led all others with 137,000 square feet of negative net absorption in the third quarter. Vacancy here crept up from 14.1% to 15.2% though asking rents have remained relatively stable at $0.34 per square foot for the past four quarters. The Downtown submarket followed, posting negligible occupancy losses of 27,000 square feet over the past quarter. Vacancy here now stands at 6.2% while the typical asking rent remains in the low $0.40 range.

Sacramento continues to face multiple economic challenges. The local market for bulk distribution space, however, has remained strong thanks to both the region’s comparatively low price points and the continued growth of food distribution users. The market for service-related industrial, manufacturing space and smaller multi-tenant space continues to face weak demand levels. The real question going forward is whether or not the ongoing crisis of confidence morphs into something much more malignant. Most economists still put the chances of a double-dip recession at between 33% and 40%. Double-dip is unlikely. But a near-flat economy is almost guaranteed over the final quarter of this year.

For Sacramento we will likely continue to see positive momentum from distribution users, but other space user types may increasingly hold off on making any moves until there is greater clarity in the marketplace. From those users, we expect to see consolidations outpacing growth requirements over the next few months. However, we are aware of enough larger distribution deals in the pipeline that absorption over the final quarter of the year should remain in positive territory. Vacancy levels will either stay where they are r post slight declines in the fourth quarter. Rents have largely stabilized and arguably have very little room left to shrink. Still, we are likely at least a couple of years away from any sort of significant widespread rental rate growth.

Cassidy Turley Industrial Market SnapshotSacramento Valley • Third Quarter 2011

Key Lease Transactions Q3 11

PROPERTY SF TENANT TRANSACTION TYPE SUBMARKET

2900 Spruce St., McClellan 112,700 N Solar Lease McClellan

1740 W Enterprise Blvd., 100,850 Nor-Cal Beverage Lease West Sacramento

1429 E Beamer St, Woodland 82,431 N/A Lease Davis/Woodland

1227 Striker Ave, Sacramento 63,675 N/A Lease Natomas/Northgate

1420 Enterprise Blvd, 53,982 Farmer’s Rice Coop Lease West Sacramento

3899 Security Park Dr, 35,210 Pisor Industries Lease Sunrise

4201 Sierra Point Dr, Sac. 31,558 Stay Safe Shred Lease Natomas/Northgate

420 N. Pioneer Ave., 19,202 Frontier Ag Company Lease Davis/Woodland

Industrial SubmarketsSacramento Valley

www.cassidyturley.com

Konrad KnutsenDirector of Research

555 12th StreetSuite 1400Oakland, CA 94607Tel: 510.465.8000Fax: 510 .465.1350

The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.

Copyright © 2011 Cassidy Turley.All rights reserved.

TOTALBLDGS

INVENTORY SUBLET VACANT DIRECT VACANTVACANCY

RATECURRENT NET ABSORPTION

YTD NET ABSORPTION

UNDER CONSTRUC-

TION

AVERAGE ASKING RENT

Submarket

Downtown Sacramento 85 2,644,566 0 163,819 6.2% (26,857) (21,773) 0 $0.43

East Sacramento 23 509,103 0 17,000 3.3% 0 (13,600) 0 $0.55

Elk Grove/Laguna 104 5,022,778 0 727,604 14.5% 34,119 162,826 0 $0.39

McClellan 288 13,724,167 890,617 1,636,734 18.4% (22,686) (313,367) 0 $0.38

Natomas/Northgate 201 11,795,965 87,433 1,706,927 15.2% (136,526) (26,905) 0 $0.33

Northeast Sacramento 199 5,139,141 2,500 554,478 10.8% (12,930) (35,541) 0 $0.31

Power Inn 568 25,110,502 9,100 2,560,921 10.2% 175,427 208,631 0 $0.34

Richards 92 4,480,671 0 585,438 13.1% 16,000 (34,827) 0 $0.30

South Sacramento 118 3,752,984 0 172,869 4.6% 14,285 10,292 0 $0.41

Auburn/New Castle 79 1,934,558 0 120,822 6.2% (4,519) (28,740) 0 $0.54

Folsom/El Dorado Hills 84 2,088,563 3,050 95,597 4.7% 8,245 50,408 0 $0.70

Roseville/Rocklin 274 15,542,523 13,800 2,707,559 17.5% 69,086 120,795 0 $0.42

Mather 126 3,833,875 5,054 569,569 15.0% 16,596 18,752 0 $0.36

Sunrise 323 9,150,388 41,610 1,069,366 12.1% 111,538 183,897 0 $0.40

Davis/Woodland 187 16,273,342 16,520 2,580,305 15.5% 62,958 197,528 0 $0.25

West Sacramento 302 15,748,175 73,780 943,696 6.5% 233,926 129,866 0 $0.36

TOTAL 3,053 136,751,301 1,143,464 16,140,704 12.6% 538,662 608,242 0 $0.35

*Industrial asking rates converted to NNN

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,400

professionals in more than 60 offices nationwide. The company represents a wide range of

clients—from small businesses to Fortune 500 companies, from local non-profits to major

institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million

square feet on behalf of private, institutional and corporate clients and supports more than

25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and

occupiers with a full spectrum of integrated commercial real estate services—including capital

markets, tenant representation, corporate services, project leasing, property management, project

and development services, and research and consulting. In 2010, the firm enhanced its global

service delivery outside of North America through its partnership with GVA. Please visit

www.cassidyturley.com for more information about Cassidy Turley.

Market SummaryBuilding Building Vacancy Rate

Base Count Direct Sublease Total Q3-11 Q3-10Downtown Sacramento 2,644,566 85 163,819 0 163,819 6.2% 4.6% $0.43East Sacramento 509,103 23 17,000 0 17,000 3.3% 0.7% $0.55Elk Grove / Laguna 5,022,778 104 727,604 0 727,604 14.5% 12.3% $0.39McClellan 13,724,167 288 1,636,734 890,617 2,527,351 18.4% 16.2% $0.38Natomas / Northgate 11,795,965 201 1,706,927 87,433 1,794,360 15.2% 15.3% $0.33Northeast Sacramento 5,139,141 199 554,478 2,500 556,978 10.8% 12.7% $0.31Power Inn 25,110,502 568 2,560,921 9,100 2,570,021 10.2% 11.0% $0.34Richards 4,480,671 92 585,438 0 585,438 13.1% 12.2% $0.30South Sacramento 3,752,984 118 172,869 0 172,869 4.6% 4.4% $0.41Auburn / New Castle 1,934,558 79 120,822 0 120,822 6.2% 5.0% $0.54Folsom / El Dorado Hills 2,088,563 84 95,597 3,050 98,647 4.7% 5.1% $0.70Roseville / Rocklin 15,542,523 274 2,707,559 13,800 2,721,359 17.5% 17.6% $0.42Mather 3,833,875 126 569,569 5,054 574,623 15.0% 14.4% $0.36Sunrise 9,150,388 323 1,069,366 41,610 1,110,976 12.1% 14.1% $0.40Davis / Woodland 16,273,342 187 2,508,305 16,520 2,524,825 15.5% 15.6% $0.25West Sacramento 15,748,175 302 943,696 73,780 1,017,476 6.5% 6.9% $0.36Total Market 136,751,301 3,053 16,140,704 1,143,464 17,284,168 12.6% 12.6% $0.35

Vacancy by Area

Market Rent Ranges & Average Asking Rate NNN

www.ctbt.com

Submarket Avg. Asking Rate (NNN)

Vacant Space

15.0%

4.6%

15.2%

10.8% 10.2%

18.4%

6.2%

3.3%

14.5%13.1%

6.2%

4.7%

12.1%

17.5%

15.5%

6.5%

12.2%

15.3%

4.6%

0.7%

11.0%

4.4%5.0% 5.1%

14.1%

12.3%

17.6%

14.4%

16.2% 15.6%

12.7%

6.9%

0%

5%

10%

15%

20%

25%

DowntownSacramento

EastSacramento

Elk Grove /Laguna

McClellan Natomas /Northgate

NortheastSacramento

Power Inn Richards SouthSacramento

Auburn / NewCastle

Folsom / ElDorado Hills

Roseville /Rocklin

Mather Sunrise Davis /Woodland

WestSacramento

Q3-11 Q3-10

$0.36$0.37$0.36$0.41

$0.33 $0.31$0.34

$0.38$0.43

$0.55

$0.39

$0.30

$0.54

$0.70

$0.40$0.42

$0.25

$0.34$0.36

$0.57

$0.49

$0.37

$0.44

$0.52

$0.67

$0.47$0.41

$0.53 $0.53

$0.34

$0.27

$0.38

$-

$0.25

$0.50

$0.75

$1.00

DowntownSacramento

EastSacramento

Elk Grove /Laguna

McClellan Natomas /Northgate

NortheastSacramento

Power Inn Richards SouthSacramento

Auburn / NewCastle

Folsom / ElDorado Hills

Roseville /Rocklin

Mather Sunrise Davis /Woodland

WestSacramento

Q3-11 Q3-10

Sacramento Valley Industrial ReportThird Quarter 2011

Total MarketQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Total Building Base: 136,715,301 136,715,301 136,715,301 136,751,301 136,751,301Total Buildings: 3,053 3,053 3,053 3,053 3,053

Direct Vacant: 15,988,566 16,723,950 16,978,605 16,625,134 16,140,704Sublease Vacant: 1,299,992 1,163,460 1,225,322 1,197,696 1,143,464Total Vacant: 17,288,558 17,887,410 18,203,927 17,822,830 17,284,168

Vacancy: 12.6% 13.1% 13.3% 13.0% 12.6%

Gross Absorption: 1,443,086 1,575,272 1,957,169 1,835,869 1,675,600Net Absorption: 89,955 -598,852 -316,517 381,097 538,662

Total New Construction: 0 0 0 36,000 0

Avg Asking Rate (NNN): $0.37 $0.36 $0.35 $0.36 $0.35

Vacancy & Average Asking Rate Trend

www.ctbt.com

12.3%13.3%13.1%

10.1%

12.0%13.0%

11.4%10.4%

11.4%12.6%

10.7%

12.6%12.7%

0%

3%

6%

9%

12%

15%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.20

$0.40

$0.60

$0.80

NN

N/M

onth

Vacancy Asking Rate


Downtown SacramentoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Total Building Base: 2,644,566 2,644,566 2,644,566 2,644,566 2,644,566Total Buildings: 85 85 85 85 85

Direct Vacant: 122,946 142,046 175,846 136,962 163,819Sublease Vacant: 0 0 0 0 0Total Vacant: 122,946 142,046 175,846 136,962 163,819

Vacancy: 4.6% 5.4% 6.6% 5.2% 6.2%

Gross Absorption: 26,800 0 0 53,884 37,850Net Absorption: -33,920 -19,100 -33,800 38,884 -26,857

Total New Construction: 0 0 0 0 0



www.ctbt.com

3.0%

6.6%

5.4%

1.2%

2.2%

5.2%

1.8%1.8%2.3%

6.2%

1.8%

4.6%

3.4%

0%

1%

2%

3%

4%

5%

6%

7%

8%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.20

$0.40

$0.60

$0.80

NN

N/M

onth

Vacancy Avg. Asking Rate


East SacramentoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Total Building Base: 509,103 509,103 509,103 509,103 509,103Total Buildings: 23 23 23 23 23

Direct Vacant: 0 0 30,000 17,000 17,000Sublease Vacant: 3,400 3,400 3,400 0 0Total Vacant: 3,400 3,400 33,400 17,000 17,000

Vacancy: 0.7% 0.7% 6.6% 3.3% 3.3%

Gross Absorption: 25,750 0 0 18,470 0Net Absorption: 22,350 0 -30,000 16,400 0




www.ctbt.com

5.1%

6.6%

0.7%

2.7%

5.1%

3.3%

5.1%5.7%

5.1%

3.3%

5.3%

0.7%

5.1%

0%

2%

4%

6%

8%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



Elk Grove / LagunaQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 540,047 813,150 761,261 761,723 727,604Sublease Vacant: 77,280 77,280 0 0 0Total Vacant: 617,327 890,430 761,261 761,723 727,604

Vacancy: 12.3% 17.7% 15.2% 15.2% 14.5%

Gross Absorption: 15,671 36,635 158,153 35,276 46,549Net Absorption: 283,544 -273,103 129,169 -462 34,119




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16.8%

15.2%

17.7%

10.7%

13.8%15.2%

13.3%

10.6%

13.7%14.5%

11.2%12.3%

17.9%

0%

4%

8%

12%

16%

20%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



McClellanQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 1,459,793 1,497,729 1,553,182 1,614,048 1,636,734Sublease Vacant: 763,155 716,255 859,223 890,617 890,617Total Vacant: 2,222,948 2,213,984 2,412,405 2,504,665 2,527,351

Vacancy: 16.2% 16.1% 17.6% 18.3% 18.4%

Gross Absorption: 64,536 429,172 113,686 74,626 120,920Net Absorption: -30,819 8,964 -198,421 -92,260 -22,686



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16.0% 16.2%16.4%

18.4%17.0%16.9% 17.4% 18.3%

17.2%

19.0%

16.1%17.6%

16.6%

0%

5%

10%

15%

20%

25%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

NN

N/M

onth



Natomas / NorthgateQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 15.3% 15.0% 14.3% 14.1% 15.2%

Gross Absorption: 185,034 83,455 299,239 196,460 139,616Net Absorption: -42,120 32,662 74,996 34,625 -136,526




www.ctbt.com

14.9% 15.3%

13.2%

15.2%14.6%

12.5%13.4%

14.1%14.5%13.7%

15.0%14.3%

14.7%

0%

5%

10%

15%

20%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



Northeast SacramentoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 548,055 508,937 520,673 541,548 554,478Sublease Vacant: 103,332 2,500 2,500 2,500 2,500Total Vacant: 651,387 511,437 523,173 544,048 556,978

Vacancy: 12.7% 10.0% 10.2% 10.6% 10.8%

Gross Absorption: 91,542 260,352 57,440 43,790 33,090Net Absorption: -55,250 139,950 -11,736 -20,875 -12,930




www.ctbt.com

11.6%

10.2%10.0%

3.9%

10.1% 10.6%

7.2%

4.3%

9.4%

10.8%

5.4%

12.7%

11.6%

0%

2%

4%

6%

8%

10%

12%

14%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



Power InnQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 2,751,818 2,778,652 2,825,118 2,745,448 2,560,921Sublease Vacant: 0 0 0 0 9,100Total Vacant: 2,751,818 2,778,652 2,825,118 2,745,448 2,570,021

Vacancy: 11.0% 11.1% 11.3% 10.9% 10.2%

Gross Absorption: 303,967 329,315 350,577 341,289 469,802Net Absorption: -9,493 -26,834 -46,466 79,670 175,427




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10.9% 11.3%11.1%

8.8%

11.7%10.9%

11.3%

9.9%10.8%

10.2%10.4%11.0%10.9%

0%

2%

4%

6%

8%

10%

12%

14%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



RichardsQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 12.2% 12.3% 13.8% 13.4% 13.1%

Gross Absorption: 45,700 41,140 65,335 50,766 16,000Net Absorption: 16,595 -3,748 -69,263 18,436 16,000




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12.6% 12.2%

16.8%

13.1%13.0%13.0%

16.7%

13.4%12.4%

9.5%

12.3%

13.8%

12.6%

0%

4%

8%

12%

16%

20%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

NN

N/M

onth



South SacramentoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 4.4% 4.9% 5.0% 5.0% 4.6%

Gross Absorption: 15,750 18,308 6,000 29,223 24,185Net Absorption: -29,249 -16,629 -4,416 423 14,285




www.ctbt.com

3.7%

4.4%4.1%

4.6%

5.3%

3.7%

5.0% 5.0%5.2%

3.2%

4.9%5.0%

4.4%

0%

1%

2%

3%

4%

5%

6%

7%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

NN

N/M

onth



Auburn / NewcastleQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 5.0% 4.8% 5.0% 6.0% 6.2%

Gross Absorption: 59,740 4,875 0 800 10,081Net Absorption: 34,965 4,875 -5,020 -19,201 -4,519




www.ctbt.com

3.1%

5.0%4.8%

2.3%

2.8%

6.0%

3.4%

4.0%

6.7%6.2%

3.3%

5.0%

6.8%

0%

1%

2%

3%

4%

5%

6%

7%

8%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.25

$0.50

$0.75

$1.00

$1.25

NN

N/M

onth



Folsom / El DoradoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 106,653 149,055 141,130 103,842 95,597Sublease Vacant: 0 0 0 3,050 3,050Total Vacant: 106,653 149,055 141,130 106,892 98,647

Vacancy: 5.1% 7.1% 6.8% 5.1% 4.7%

Gross Absorption: 8,000 18,452 10,475 38,788 14,765Net Absorption: 493 -42,402 7,925 34,238 8,245




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5.1% 5.1%

6.1%

4.7%

6.5%5.3% 6.2%

5.1%

6.4%

1.4%

7.1%6.8%

6.1%

0%

2%

4%

6%

8%

10%

12%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.25

$0.50

$0.75

$1.00

$1.25

$1.50

NN

N/M

onth



Quarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 17.6% 18.4% 17.6% 18.0% 17.5%

Gross Absorption: 64,316 46,630 203,464 105,809 160,595Net Absorption: -19,546 -119,432 119,205 -62,496 69,086

Total New Construction: 0 0 0 36,000 0



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Roseville / Rocklin(Also includes Loomis & Lincoln)

16.9% 17.6%18.4%

11.3%

16.6%18.0%

16.5%15.5%16.9% 17.5%

16.0%17.6%17.5%

0%

4%

8%

12%

16%

20%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.15

$0.30

$0.45

$0.60

$0.75

NN

N/M

onth



MatherQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 539,350 582,255 596,529 586,165 569,569Sublease Vacant: 11,120 11,120 8,174 5,054 5,054Total Vacant: 550,470 593,375 604,703 591,219 574,623

Vacancy: 14.4% 15.5% 15.8% 15.4% 15.0%

Gross Absorption: 33,938 52,675 57,826 24,888 19,916Net Absorption: -5,817 -42,905 -11,328 13,484 16,596




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14.2% 14.4%

11.7%

15.0%

11.0%12.1%

11.1%

15.4%

13.3%

10.5%

15.5% 15.8%

12.8%

0%

3%

6%

9%

12%

15%

18%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

NN

N/M

onth



SunriseQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11



Vacancy: 14.1% 14.2% 14.5% 13.4% 12.1%





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14.1% 14.5%14.2%

6.8%

12.1%

13.4%

10.6%

7.5%

10.4%

12.1%

8.3%

14.1%14.2%

0%

4%

8%

12%

16%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.20

$0.40

$0.60

$0.80

NN

N/M

onth



Woodland / DavisQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 2,537,855 2,722,353 2,918,981 2,571,263 2,508,305Sublease Vacant: 0 0 16,520 16,520 16,520Total Vacant: 2,537,855 2,722,353 2,935,501 2,587,783 2,524,825

Vacancy: 15.6% 16.7% 18.0% 15.9% 15.5%





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15.9% 15.6%

11.8%

15.5%

11.8%11.8% 11.6%

15.9%

13.7%

11.0%

16.7%18.0%

14.7%

0%

4%

8%

12%

16%

20%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

NN

N/M

onth



West SacramentoQuarter Q3-10 Q4-10 Q1-11 Q2-11 Q3-11


Direct Vacant: 1,014,499 1,053,762 1,045,564 1,152,822 943,696Sublease Vacant: 77,580 93,580 93,580 98,580 73,780Total Vacant: 1,092,079 1,147,342 1,139,144 1,251,402 1,017,476

Vacancy: 6.9% 7.3% 7.2% 7.9% 6.5%

Gross Absorption: 176,723 90,760 210,884 88,250 270,476Net Absorption: -93,956 -55,263 8,198 -112,258 233,926




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6.3%6.9%

3.6%

6.5%

3.5%

4.4% 4.3%

7.9%

4.5%

5.5%

7.3% 7.2%

5.0%

0%

2%

4%

6%

8%

10%

Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11

Vac

ancy

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

NN

N/M

onth



www.ctbt.com

Disclaimer: The information contained herein while not guaranteed has been secured by sources we deem reliable. All information should be verifi ed prior to lease or sale.

Industrial Market Report

Sacramento Valley

Defi nitions

Manufacturing ProductBuildings typically used for industrial purposes

(Less than (3/1000 parking, clear height less than

18’, three sides of concrete and one side of glass,

usually 6%–15% offi ce build out).

Warehouse ProductBuildings typically used for bulk warehouse

purposes (2/1000 parking or less, clear height

minimum of 18’, limited glass, dock and/or grade

doors, and minimal build-out).

Total Building BaseTotal warehouse buildings over 10,000 square feet

in size.

Direct AvailabilitiesTotal square footage being marketed for lease by

landlord available within 90 days. This may include

availabilities with pending leases.

Sublease Availabilities Total square footage being marketed for lease by

sublessor.

VacancyTotal available square footage (direct & sublease)

divided by Total Building Base.

Net AbsorptionChange in occupied building square footage in a

given time period.

Avg. Asking RateWeighted Average NNN Rate (by available square

footage) of available spaces with Gross rates

converted to NNN rates.

Historical ContinuityCassidy Turley BT Commercial maintains a building

by building historical record. Comparing previous

reports to this report may show different building

size numbers and statistics. Changes are caused

by reclassifi cation of buildings and revised building

sizes. Historical comparisons should be made from

this report only as Cassidy Turley BT adjusts the

historical record accordingly.

SourceData is tracked and tallied from information

provided by The Costar Group.

Report Published By:

Cassidy Turley BT CommercialSacramento520 Capitol Mall Suite 500

Sacramento, CA 95814

Tel 916 375 1500

Fax 916 376 8840

49

88

WoodlandNorth Highlands

Elk Grove

Davis

Rio Linda

Fair Oaks

Arden

Arcade

Laguna West

Florin

CitrusHeights

WestSacramento

Plymouth

Roseville

Parkway

FolsomOrangevale

Loomis

New Castle

Rocklin

AuburnLincoln

ShingleSprings

Placerville

El Dorado Hills

Camino

RanchoCordova

Winters

Vacaville

Carmichael1

2

13

14

11

12

10

8

97

5SACRAMENTO

4

3 6

Davis/Woodland

Natomas/Northgate

West Sacramento

Downtown

East Sacramento

South Sacramento

Power Inn

Elk Grove/Laguna

Mather

Sunrise

Folsom/El Dorado Hills

McClellan

Roseville/Rocklin

Auburn/New Castle

LEGEND1

2

3

4

5

6

7

8

9

10

11

12

13

14

80

80

80

5

505

5

99

99

70

65

50

49

industrial report 3q cassidy turley...420 n. pioneer ave., 19,202 frontier ag company lease...

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