Office Sales Trends

The current median sales price for office space in Santa Rosa is approximately $197 per foot. Though this quarter has seen a 1% increase from the previous quarter, it is still a 3.3% decrease from last year’s prices. This information shows us that it is still a great time for groups looking to purchase in the Santa Rosa office. As the graph indicates, it
was only six year ago when the median sales price was over $300 per foot.

There are numerous owner-user opportunities of varying sizes for a buyer to purchase a building and operate their business. The SBA loan program offers a chance for business owners to be able to purchase a building with a smaller down payment than a conventional loan. To qualify for an SBA loan, the buyer must occupy at least 51% of a building. This gives buyers the option to not only look at single tenant buildings to purchase, but to also take a look at multi tenant buildings where the buyer could get additional income from other tenants in the building.

Though the owner-user market accounts for the majority of office buildings available for sale, there are certainly investment opportunities in the Santa Rosa market. We are seeing cap rates ranging from 6% – 8% with varying types of product including single tenant buildings with long term leases as well as multi tenant buildings. It is a great time to buy office in Santa Rosa, and I would be glad to answer any questions that you have.

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Confidence in Market Leads Basin Street to Major Reinvestment in Santa Rosa

On October 3rd, Basin Street Properties re-acquired 17 office buildings consisting of nearly 700,000 square feet throughout Santa Rosa and the North Corridor markets. Basin Street developed or acquired these properties in the early 2000’s prior to selling them to Equity Office Properties in 2005. The 17 buildings were approximately 77% leased at closing and pending transactions will increase the occupancy levels. Basin Street plans on making $4.5M in upgrades to the properties over the next two years. Basin Street currently has availabilities to accommodate your company’s space needs. For more information, please visit: http://basin-street.com/

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Basin Street Properties Offers Tenant Advantage Program (“TAP”)

Basin Street Properties’ recent acquisition has made them the largest commercial property owner in Sonoma County. Their dominant ownership presence throughout Northern California and Nevada has provided them the ability to differentiate themselves by providing their tenants with their Tenant Advantage Program. The program is a ‘one of a kind’ incentive that no other property owner is offering in Sonoma County. Basin Street Properties has formed partnerships with retailers, apartments and major national hotel chains to pass discounts to their tenants and their employees.  As a TAP member, tenants receive personalized TAP Cards that can be used for the special offers and discounts wherever the card is accepted.  For more information on the TAP program, please visit their website at: http://basin-street.com/tenant-advantage-program/

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