Commercial Real Estate in Nevada County | SVN Highland Commercial

2391 Nevada City Highway, Grass Valley, CA

  • Sale of the largest of 5 new lots created on the former Meeks Lumber site.
  • 19,000 SF Tracktor Supply Co. store planned for 2018
  • Represneted Seller in site development & tenant procurement
  • 4 lots surrounding Tractor Supply now available for purchase
  • Perfect for retaio, hotel, office, multifamily or mixed use.

 

At mid-year 2017, the nation seems to be enjoying what has been referred to as a “Goldilocks” commercial real estate market. In the children’s fairy tale, Goldilocks finds the perfect bowl of porridge – not too hot, not too cold, but just right. We currently have roaring stock values, growing GDP, minimal unemployment, rising disposable incomes and increasing spending, which historically would result in rising inflation, market overheating, and a downward turn in the economic cycle. However, this is currently not the case as overall inflation during the first two quarters has been almost non-existent, interest rates remain very low and stable, and commercial property values are rising, but not at the expense of yields and other real estate fundamentals. Seemingly, we are sitting in front of a lovely bowl of porridge!

 

It’s interesting that in such a favorable market, sales volume is down in 2017 compared to 2016, both nationally and locally. Various factors may be contributing to this including gridlock and uncertainty in Washington, dissipating “distressed property” sales, low new supply, and “peak pricing” concerns (where investors sense a bubble and feel upside may be limited). As to peak pricing, this is definitely not the case locally, as Western Nevada County has greatly lagged its immediate neighbors – Bay Area/Sacramento and Truckee/Reno – in price appreciation over the past few years. This leaves Nevada County positioned for greater profit potential than surrounding areas and the promise of a very strong second half 2017.

  • 2 Story, 8 unit apartment complex in Downtown Grass Valley
  • Investor purchase in 2002
  • Represented Seller

  • ±1,500 SF Victorian office building.
  • Built in 1891.  Beautifully restored in 2007.
  • Large quarter-acre lot with ample parking.
  • Sold to local law office.
  • Represented Seller.

 

  • ±2,700 SF retail space in the 7 Hills Business District of Nevada City.
  • Represented tenant.
  • Showed entire market to Bay Area tenant.
  • Found space, negotiated & closed transaction within 2 weeks due to tenant timeline.

 

  • High demand 7,000 SF retail end-cap in Safeway Center.
  • Monitored space on behalf of tenant over multiple years.
  • Matched tenant with landlord immediately upon non-renewal of previous tenant for seamless transition of occupants.

 

  • Represented Tenant – was brought into help close.
  • Negotiated “turn-key” delivery with excellent terms.
  • Worked closely with tenant and landlord’s representative/broker to achieve a beneficial lease structure for both parites.

 

  • 20,000 SF multi-year office office lease with options.
  • Largest Nevada County office lease negotiation in past 5 years.
  • Represented landlord – Brighton Greens Business Park.
  • Helped navigate both parties through complex lease negotiations to mutually beneficial conclusions.

 

  • 4 contiguous industrial condos in a 24 unit complex.
  • 7,095 SF high-bay warehouse.
  • Represented landlord in a multi-year lease to BUB Design, Inc.
  • Use: motorcycle exhaust manufacturing.

  • ±14,740 SF warehouse space.
  • Represented tenant.
  • Negotiated significant discount in exchange for 7 year term.
  • Space had been vacant for multiple years.