Commercial Report – 3rd Quarter 2016
- According to CoStar, vacancy remains low in office, retail, and industrial. See graphs below for specifics.
- The market remains shallow however, with a limited number of tenants.
- The Golden Valley Bank business confidence survey indicates the majority of businesses are expecting an improved local economy.
- Some new warehouses being built. Several buildings near the airport and one set of units near Entler in the southern part of Chico.
- Inventory of for sale property is very slim. Only 16 properties offered as of 10-13-2016 when development land is excluded.
- Interest in commercial development land is beginning.
- Coldwell Banker Commercial continues its role as a leader in the Chico commercial market. A review of leased and sold properties shows the firm involved in the majority of transactions.
We are committed to work to accomplish as much as possible in this active portion of the market cycle. Please contact me with your questions and comments. I can be reached at 530-896-3168 or at firstname.lastname@example.org. I appreciate the opportunity to represent your real estate interests.