The Business Journal asked key experts who negotiate numerous deals in Sonoma, Solano, Marin and Napa counties to recount market highlights over the past 12 months and what the future may hold.
Demand from e-commerce and logistics companies propels Solano-Napa industrial agreements
More than 1.7 million square feet of new development is coming to these counties, but the office market is still suffering from the pandemic’s impact on indoor work, write the team’s Chris Neeb, Glen Dowling and Matt Bracco JLL’s Dowling-Bracco.
North Sonoma County industrial real estate is active amid low vacancy
Amazon and other companies are pursuing industrial projects near Charles M. Schulz-Sonoma County Airport, writes Shawn Johnson of Keegan & Coppin Co. Inc.
Offer limits industrial agreements with Petaluma
And office leasing activity in the southern Sonoma County town is picking up to provide ample market choice, writes James Manley of Keegan & Coppin Co. Inc.
North Marin office market emerges from pandemic pause
Companies are returning to space purchases as virus restrictions ease, and companies are more confident signing longer leases, writes Haden Ongaro of Newmark.
Demand for South-Central Marin offices increases with end of mask rules
Larger employers have been slower to bring employees back for in-person work and to commit to spaces as pandemic restrictions ease, writes Cushman & Wakefield’s Whitney Strotz.
Santa Rosa office market steady as employers adjust post-COVID plans
Hybrid working has accelerated, possibly changing the future of the yard, writes Dave Peterson of Keegan & Coppin Co. Inc.
Apartment investments in Sonoma, Napa and Solano benefit from suburban migration
Multifamily unit construction and complex sales are part of California’s push for more housing options, writes Scott Gerber of NorCal Commercial.
Investment in Marin County apartments increases as COVID rent restrictions end
Low vacancy and rising rents are driving off-market transactions for multifamily properties, writes Katherine Higgins of Berkshire Hathaway/Drysdale Properties.
The signs bode well for the North Bay commercial real estate market
The rental rate for commercial properties accelerated in 2021 compared to 2020 across North Bay. This reflects business confidence and the local economy, writes Al Coppin, president of Keegan & Coppin Co. Inc.
How Marin County Commercial Real Estate Has Changed Over the 2 Decades
Few new constructions, replacement of offices by houses, fewer brokers, these are some of the profound changes in the market, writes Matt Brown of Meridian Commercial.
See previous information on local commercial real estate markets here.