Sacramento office market hits 1.2m sf of growth in 2019, exceeding 2017 and 2018 combined

Sacramento’s office sector maintains high levels of demand and solid fundamentals, reported Cushman & Wakefield in its Sacramento Office Fourth Quarter 2019 Report.

Achieving well over 1 million square feet of net occupancy growth in 2019, overall office vacancy finished the year at 8.3 percent, down 110 basis points from 2018 and shedding another 10 basis points from the previous quarter. The story is similar in the region’s CBD, where vacancy fell by 170 basis points year-over-year and 30 basis points quarter-over-quarter.

Will Austin, Cushman & Wakefield senior research analyst in Sacramento, said, “Sacramento’s office market closed 2019 very strong with 368,000 square feet of positive net absorption during t