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May 14, 2021 by Peter Maclennan 1 Comment

NAR Commercial Market Insights

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 Transaction Volume

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.

National Commercial Real Estate

Commercial Cap Rates

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%

Leasing Activity

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.

Bay Area Commercial Real Estate

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.

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Filed Under: Bay Area Real Estate News, Commercial Leasing, Contra Costa Real Estate, Real Estate Investing Tagged With: Commercial Real Estate, Commercial Real Estate Broker

November 13, 2020 by Peter Maclennan Leave a Comment

Martinez Property for Lease

3930 Pacheco Blvd.

3930 Pacheco Office Building

We just listed 3930 Pacheco Blvd for lease. This was a property that we previously had helped the ownership with the acquisition and the leasing.

This beautiful and unique property was previously an elementary school. It was purchased by a printing company and used as their headquarters for a number of years prior to the acquisition by my clients.

open office space

Most recently the property had been occupied by an engineering firm and a day school.

Call Peter Maclennan or use this link to schedule a showing of this unique property.

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Filed Under: Commercial Leasing, Contra Costa Real Estate, Listing Tagged With: Commercial Leases, Commercial Real Estate, For Lease, Martinez, Office

July 16, 2020 by Peter Maclennan Leave a Comment

Light Industrial For Lease in Antioch

2,500 sq. ft. in Antioch, CA

We have another unit available at the project in Antioch, CA. Check out our ±2,500 sq. ft. space light industrial space for lease.

Call Peter at 925-385-8798.

Video Tour of 729 Fulton Shipyard A1

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Filed Under: Commercial Leasing, Industrial Real Estate, Listing

May 11, 2020 by Peter Maclennan Leave a Comment

Video Tour and Additional Photos of 1780 Monument Blvd

I was able to film a video tour of my listing at 1780 Monument Blvd in Concord, CA.

Video Tour of 1780 Monument Blvd, Concord, CA

The property is 4,180 Sq. ft. and includes lifts for multiple cars. The shop repairs mufflers and is one of the only radiator repair shops in the East Bay Area.

Property Details

Price: $1,500,000
Address: 1780 Monument Blvd
City: Concord
State: CA
ZIP: 94520
MLS #: 40895930
Square Feet: ±4,180

Photos of 1780 Monument Boulevard

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Filed Under: Concord Real Estate, Listing Tagged With: Automotive, Commercial Real Estate, Concord, Contra Costa County, Real Estate Investment

April 28, 2020 by Peter Maclennan Leave a Comment

Price Reduction on 1780 Monument Blvd

New Price – $1,500,000!

Price Reduction on 1780 Monument Blvd.

The owners of 1780 Monument Blvd have asked us to do a significant price reduction. We are lowering the asking price by $150,000 to $1,500,000.

Exterior of Automotive Building in Concord

This exceptional property boasted a traffic count of close to 30,000 cars per day (prior to Covid-19). It is a unique opportunity to own an automotive property in primarily a retail area.

Left Turn Lane

Left turn lane into property
Left turn lane into 1780 Monument Blvd. Major Grocery Store across the street.

It also allows for access from both directions on Monument Blvd with a left turn lane in front of it.

Interior Shop Photos
Lifts and other equipment can be included

Call Peter today to discuss at 925-385-8798.

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Filed Under: CA Real Estate, Concord Real Estate, Contra Costa Real Estate, Investment Property, Listing, Real Estate Investing Tagged With: Automotive, Commercial Real Estate, Concord, concord ca

April 16, 2020 by Peter Maclennan Leave a Comment

Video Tour of 729 Fulton Shipyard Rd.

Video Tour of 729 Fulton Shipyard Rd, Antioch, CA

Here is a video tour of our listing at 729 Fulton Shipyard Rd in Antioch, CA.

Tour of 729 Fulton Shipyard Rd.

The light industrial space boasts ±2,500 sf of warehouse & office space. We are asking $2,200/mo.

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Filed Under: Real Estate Investing

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Welcome to Maclennan Investment Group, Inc., your East Bay Area real estate investment advisors. Maclennan Investment Group assists buyers and sellers of real estate maximize the investment potential of their real estate assets.

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Offering real estate services in the communities of: Walnut Creek, Concord, Pleasant Hill, Martinez, Alamo, Lafayette, and surrounding cities.

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925.385.8798

Maclennan Investment Group, Inc.
3380 Vincent Rd, Ste HUB
Pleasant Hill, CA 94523
p. (925) 385-8798
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