Sacramento has costly office space
Office rents in downtown Sacramento were the 19th-highest in the nation, according to a report by Colliers International, commercial real estate brokers.
Office prices here have remained stable. Sacramento’s downtown office market averaged $30.72 per square foot rent in the second quarter of 2007, very close to the $30.60 per square foot businesses were paying in the second quarter of 2006.
Colliers found the highest rental prices were in midtown Manhattan, at $92.31 per square foot, while the lowest were in Bakersfield at $17.40 per square foot.
The downtown average was $46.81 per square foot for major US cities.
Suburban Sacramento rents stayed steady at $26.52 per square foot, up from $26 per square foot the same time last year. The Greater Sacramento suburban market was just below the national average of $27.45.