Tis’ the season to reflect on the year and count our blessings! Though 2022 was wrought with uncertainties, I am truly grateful for the opportunities to work with you and serve you in your real estate needs.
Thank you so much for your support! May you and your loved ones have a Blessed Christmas and New Year. I look forward to serving you in 2023!
| This property has undergone some recent upgrades including new paint in the office area, LED lighting throughout the building, and new flooring in the office. Call me at (925) 385-8798 to discuss or to schedule a tour. Sincerely, Peter Maclennan |
| Property Overview |
| ±8,070 sf of Light Industrial space for lease ±7,000 sf of Warehouse with a private restroom ±1,000 sf of Office with Mezzanine Space 5 Drive In Doors provide multiple entry points Almost 1 full acre of fenced & paved yard Zoned Light Industrial – City of Antioch Skylights provide abundant natural light |
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| The building sits on a 41,774 sq. ft. lot. The lot is fenced and paved for the next tenant with access on all sides of the building. |
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Many small business owners and entrepreneurs are tempted to represent themselves when leasing property for their business. There are multiple advantages to hiring a commercial real estate broker to represent them when considering a new office, store front, or warehouse for their business in Contra Costa County.
Here are six reasons commercial tenants should choose to hire a commercial agent to represent them:
A commercial lease transaction can be challenging for business owners to do on their own. Having an experienced agent helping navigate the process can save costs, time, and frustrations.
Peter was referred to my business when we needed to move locations. As we began to work together I could tell we had made the right decision for our needs. …The office could not be better and our experience working with Peter was fantastic. When we have to move again, having Peter represent us will be the easiest choice we make!
Let Peter help you with your next leasing transaction.
I hope you enjoy a safe 4th of July holiday celebrating the freedom we enjoy in the United States.
The creative office building at 3930 Pacheco Blvd in Martinez is for lease. There is ±7,228 Sq. ft. located across 3 buildings available for lease.
The National Association of Realtors has released its March 2021 edition of its Commercial Market Insights. Here is a brief summary of some relevant highlights.
Commercial Sales Transaction Volume in March of 2021 was down 28% from the prior year on transactions in excess of $2.5 million. The only sector that saw an increase in transaction volume year-over-year was hotels. This is likely due to opportunistic investors moving into the space.
As the commercial market stabilizes, commercial cap rates will continue to decline. Lower cap rates contribute to higher prices. National cap rates for properties above $2.5 million, apartments averaged lowest cap rate at 4.9% with industrial properties averaging 5.9%.
For properties below $2.5 million Class A apartments had the lowest cap rate of 5.7%, Class B Apartments at 6.4%, and industrial averaged 6.8%
Office leasing continues its negative trend of absorption. Since Q2 of 2020 the cumulative total negative net absorption of 138.4 million square feet. This trend is not surprising as many companies are adjusting to Work From Home (WFH) and adapting their office use accordingly.
Industrial absorption rose 82.7 millions square feet in 2021 Q1 and was net positive 309.7 million square feet for the past 4 quarters. This trend is not surprising either as we have seen an increase in online shopping, which is dependent on warehouse and “last mile” storage.
The commercial real estate market in the Bay Area contributes to national trends, but varies from national trends at many times. The old adage in real estate is “Location, location, location.” Trends in the San Francisco Bay Area very from area to area as well.
It is imperative that you work with a real estate professional that knows what is happening in your region and with your property type. For advice on how to navigate your specific commercial real estate question, please call Peter Maclennan at 925.385.8798.
