Total sales volume fell by 10.1 percent quarter-over-quarter (QoQ) during the third quarter of 2019 in the Sacramento market, totaling $848 million, according to Cushman & Wakefield.
Multifamily product once again led the region in total sales volume with $360 million trading during the third quarter, accounting for 42.4 percent of the total. The total number of transactions was down slightly QoQ from 84 to 69 but remains in line with recent activity. More high-profile office sales are expected in the fourth quarter.
Office and industrial properties combined comprised 49.2 percent of the market’s total sales volume during the third quarter, with office product slightly edging-out industrial 26.1 percent to 23.1 percent. Both product types have benefitted from strong rent growth for a number of years. However, investment sales of industrial product have declined in recent periods with owners content to hold and ride the strong lease-rate growth. Cap rates rose dur
