Sacramento, CA Office Overview
The Sacramento Metropolitan Area includes the Rosemont, Belmont, and Downtown Sacramento submarkets. With a metropolitan population of nearly 2.3 million, Sacramento is the state capital of California and the sixth-fastest growing city in the state. The tech, health care, and government sectors all provide consistently strong demand for employment.
As of mid-2017, the market encompasses over 37 million square feet of existing office space in properties larger than 50,000 square feet. The city's centralized Northern California location and government nexus attracts companies in the tech & energy, advanced manufacturing, and business & financial services, that generate robust demand for office space.
Sacramento, CA Office Inventory Description
Both public and private industries are attracted to Sacramento's strategic location, skilled workforce, and affordable cost of doing business. With a gross metropolitan product of over $128 billion annually, the demand for white-collar office space in Sacramento remains strong. Nearly 64% of the office space in Sacramento is Class A or A+, while Class B office space adds another 55%.
Downtown Sacramento is one of the fastest-growing submarkets in the city. Situated along I-5 and the Sacramento River, the area is home to prime Class A properties such as U.S. Bank Tower, 1201 K Street, and Wells Fargo Center.
Sacramento, CA Commercial Inventory Breakdown
Office Spaces
Total: 50,562,168 SF
By square footage range:
- 50k to 100k SF: 9,633,241 SF / 19.05% of total office
- 100k to 500k SF: 27,534,752 SF / 54.46% of total office
- 500k to 1M SF: 8,855,414 SF / 17.51% of total office
- > 1M SF: 4,538,761 SF / 8.98% of total office
By class:
- Class A+: 2,045,641 SF / 4.05% of total office
- Class A: 16,843,985 SF / 33.31% of total office
- Class B: 22,458,640 SF / 44.42% of total office
- Class C: 1,665,196 SF / 3.29% of total office
Top 10 Largest Office Buildings
in Sacramento
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Franchise Tax Board Office Complex | 9645 Butterfield Way, 95827 | 1,814,056 | 1984 |
| Capitol Area East End Complex | 1501 Capitol Avenue, 95814 | 1,474,705 | 2003 |
| Richards Blvd Office Complex | SWC Richards Blvd & 7th Street, 95811 | 1,250,000 | n/a |
| CalEPA Headquarters | 1001 I Street, 95814 | 950,000 | 2001 |
| Tower 301 | 301 Capitol Mall, 95814 | 913,055 | n/a |
| Capitol Square | 450 N Street, 95814 | 868,131 | 1991 |
| DGS Natural Resources HQ | NEC P Street & 7th Street, 95814 | 838,000 | 2021 |
| Parkview Business Park | SEC Arena Blvd & Duckhorn Drive, 95834 | 834,880 | n/a |
| Resources Building | 1416 9th Street, 95814 | 656,625 | 1964 |
| 744 P Street | 744 P Street, 95814 | 620,000 | 1969 |
Most Recently-Built Office Buildings
in Sacramento
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| River Plaza Office Building | 2600 River Plaza Drive, 95833 | 60,000 | 2019 |
| Natomas Pointe Plaza - Building E | 2920 Advantage Way, 95834 | 30,000 | 2019 |
| 700 North 10th Street | 700 North 10th Street, 95811 | 162,353 | 2011 |
| Sutter Medical Plaza Sacramento | 1625 Stockton Blvd, 95816 | 143,210 | 2011 |
| 2020 Gateway | 2020 West El Camino Avenue, 95833 | 319,325 | 2010 |
| Sutter Capitol Pavilion | 2725 Capitol Avenue, 95816 | 209,000 | 2010 |
| Mercy Midtown Medical Center | 3000 Q Street, 95816 | 122,000 | 2010 |
| 1747 North Market Blvd | 1747 North Market Blvd, 95834 | 105,000 | 2010 |
| Bank of the West Tower | 500 Capitol Mall, 95814 | 445,984 | 2009 |
| Sacramento Area Sewer District | 10060 Goethe Road, 95827 | 170,000 | 2009 |
Sacramento, CA Green Office Space
Of the Top 30 Green Office Markets in the U.S., Sacramento ranks #22 for energy-efficient office buildings. While over 3% of the office buildings larger than 50,000 square feet are LEED-Certified, just over 9% rank as Energy Star-rated and nearly 11% are recognized as green buildings.
The Lincoln Plaza East & West buildings downtown are brilliant examples of green offices. Built in 2005, the project has more than 538,000 square feet and is LEED-Certified Platinum. As tenants, national and global investors seek out green office assets for their portfolios, the green trend will continue to grow.
The National Green Building Adoption Index for 2017 surveyed the top 30 major U.S. markets, looking at the percentage of energy efficient buildings. Sacramento has placed 22nd on this survey, which includes EPA Energy Star-rated properties. Since 2005 the percentage of green certified buildings has increased from 5% to 38% mid-2017.
Sacramento, CA's Top Office-Using Sectors
Sacramento's centralized location, enticing business climate attracts a diverse mix of business and industry within healthcare, government, and educational sectors.
- Health Care – Sutter Health, the UC Davis Health System, Kaiser Permanente, and Dignity Health.
- Government – State of California, Sacramento County, the City of Sacramento, and the three unified school districts in the area.
- Higher Education – California State University, University of California - Davis, and the UC Davis Medical Center.
- Corporate Offices – Blue Diamond Growers, Aerojet, Teichert, and the McClatchy Company.
Sacramento Demographics
Population
- Total Population495,011
- Male Population(48.8 %) 241,788
- Female Population(51.2 %) 253,223
- Median Age34.40
Income/Financial
- Average Household Income$79,490
- Median Household Income$58,456
- Median Income Under 25$26,103
- Median Income 25-44$62,530
- Median Income 45-64$68,240
- Median Income Over 65$45,878
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