Placer County office property tax appeals are significantly affected by key metrics such as market vacancy and market rent. These recent trends are summarized below.
| Vacancy % | Total Available % | Total Inventory SF | Average Asking Rent | |
|---|---|---|---|---|
| Highway 50 Corridor | 20.2% | 26.8% | 11,139,738 | $1.85 |
| Roseville/Rocklin | 12.2% | 18.7% | 7,632,876 | $2.02 |
| Suburban | 14.8% | 19.7% | 41,973,732 | $1.91 |
| Downtown | 11.8% | 16.6% | 10,154,954 | $3.08 |
| Total Market | 14.2% | 19.1% | 52,128,686 | $2.12 |
Analysis By WPA 2022
Data By CBRE Market Research 2022
Cities and neighborhoods included in this market include Campus Commons, Carmichael, Fair Oaks, Citrus Heights, Orangevale, East Sacramento, Elk Grove, Galt, Folsom, Howe, Fulton, Watt, Highway 50 Corridor (Including Rancho Cordova), Sacramento Midtown, Northgate/Natomas, Point West Tribute, Roseville, Rocklin, South Natomas, South Sacramento, Watt Avenue/Auburn Boulevard, West Sacramento, Suburban Sacramento, Downtown Sacramento.
Placer County hotel property tax appeals are significantly affected by key metrics such as market vacancy and market rent. These trends are summarized below.
| UNITED STATES DATA | Total | Change From 2019 |
|---|---|---|
| Occupancy | 62.70% | -4.90% |
| ADR | $149.00 | 13.6% |
| RevPAR | $93.27 | 8.10% |
Analysis By WPA 2023
Data By STR, TE, February 3, 2023 (Published), As of December 31, 2022
2022 Year End Indicators
* Uneven, non-linear recovery across industry segments.
* Overall construction pipeline activity is down. Some December 2022 growth in construction is seen.
Placer County is located adjacent to the north of Sacramento and El Dorado Counties, east of Sutter and Yuba Counties, and south of Nevada County. It forms part of the eastern border of California, where the state meets the State of Nevada. Roseville is the largest city in Placer County.
The Placer County Office market is affected by trends of the greater Sacramento office market, within which Roseville and Rocklin are analyzed for market purposes. The office market in greater Sacramento in the fourth quarter of 2022 reached 19.7% availabilities (including both direct vacancy and sublease availabilities). Direct vacancy was lower at 14.8%, reflecting significant subleasing offerings. Absorption in the market overall was barely positive, but in the downtown was negative.
The Highway 50 Corridor posted the weakest showing in occupancy with 26.8% total availabilities and a direct vacancy of 20.2%. Unlike the overall market, this sub-market experienced negative absorption of 69,661 square feet. These trends are especially noteworthy since the Highway 50 Corridor is the largest sub-market, containing 11,139,738 square feet of inventory, or 26.5% of the total market area of 41,973,732 square feet.
The next largest sub-market is the South Natomas office market which contains only 3,298,340 square feet, and represented the next highest availability and vacancy percentages, at 23.4% and 19.0%, respectively. It is significant that the two largest sub-markets are experiencing the highest vacancy, as these markets often lead the trends for the greater market.
Work from home trends (WFH) continue to be a concern for the market, as are rising interest rates and an uncertain future path for the economy as of year-end 2022.
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