CA - Modesto
CA - Monterey / San Benito Counties
DEMOGRAPHICS
Modesto, CA
1,494
512,221
167,008
$63,534
140,743
16.1%
Coldwell Banker Commercial
Vinson Chase, Realtors
220-C Standiford Ave.
Modesto, CA 95350
(209) 577-2121
www.cbcworldwide.com
CONTACT
OFFICE
Vacancy
N
Absorption
N
Rental Rates
N
INDUSTRIAL
Vacancy
N
Absorption
N
Rental Rates
N
MARKET HIGHLIGHTS
•;Stanislaus County is located in
the Central Valley. Its county
seat is Modesto, which is where
many people in the surrounding
areas shop.
•;The major industry is
AG-related, employing
approximately 18,000 people
or 11.3% of the total 160,000
people that are employed.
Unemployment varies based
on the fact that most of the AG
jobs are seasonal.
•;Shopping areas that are well
located have been attracting
new tenants with some major
remodeling. Due to lack of new
construction, the vacant space
has been absorbed as needs
arise. Kaiser Permanente built
a major hospital complex with
Memorial Hospital making a
major expansion.
•;There has been major layoffs in
the government sector based
on tax assessments being
lowered by a downturn in real
estate values. Leveling out has
occurred and all are hoping real
estate prices will start to rise
in 2012. This will only come if
the unemployment in the area
starts to decline.
•;Office and Retail are improving
in good centers and locations.
RETAIL
Vacancy
N
Absorption
N
Rental Rates
N
MULTI-FAMILY
Vacancy
N
Absorption
N
Rental Rates
N
DEMOGRAPHICS
Salinas, CA
3,322
413,103
133,220
$86,472
120,633
14.9%
Coldwell Banker Commercial
NRT - Carmel
3775 Via Nona Marie
Carmel, CA 93923
(831) 626-2200
www.cbcworldwide.com
CONTACT
OFFICE
Vacancy
P
Absorption
Q
Rental Rates
Q
INDUSTRIAL
Vacancy
P
Absorption
Q
8 Rental Rates
Q
MARKET HIGHLIGHTS
•;Hampton Brown/National
Geographic vacated a large
portion (approximately 30,000
SF of space) on Carmel Rancho
Blvd., Carmel and relocated
to Ryan Ranch Business Park,
Monterey.
•;San Miguel Market/PAQ Inc.
relocated to a 40,000 SF space
in the Santa Lucia Shopping
Center, Greenfield, CA on a 10
year lease deal.
•;Retail activity is up, especially
in downtown Carmel-by-the-Sea, where demands are up and
rents per SF are up. Khaki’s just
relocated to Carmel.
•;Downtown Monterey, the
Core Center, is looking at
a new plan. The city and
business community is focused
and moving forward with a
redevelopment plan to increase
the Mixed-Use properties and
a large conference service
expansion. There are currently
2-3 major projects in the work
for this area.
•;Office space rental rates are
slightly down, and there is a
large amount of Office space
available.
•;Shrinking inventory and prices
are stabilizing in residential.
RETAIL
Vacancy
Q
Absorption
P
Rental Rates
P
MULTI-FAMILY
Vacancy
N
Absorption
P
Rental Rates
P
