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Proud to create employment oriented communities making our Region a quality place to live , work , recreate , and educate .
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Kamilos Companies is leading new generation employment centers and communities that embrace our region ’ s future . For almost 30 years , Kamilos Companies has choreographed and implemented over 17,000 acres of livable , sustainable , and inspiring communities providing over 35,000 dwellings and 5,000 acres of jobs producing projects .
11249 Gold Country Blvd ., Ste . 190 , Gold River , CA 95670 916.631.8440 www . kamilos . com unusual . This year alone , Buzz Oates will be developing five buildings totaling nearly 1.4 million square feet at Metro Air Park on land adjacent to Sacramento International Airport . There is plenty of room for growth — Ramos says only about 250 acres of the 1,400 acres at Metro Air Park has been developed , so there is another 20 years of growth ahead at the site .
Cushman & Wakefield ’ s Cologna says he thinks the region ’ s ongoing demand for space will continue its historically low vacancy rates . His research shows that only about 20 buildings of 100,000 square feet or greater were built in the area between 2005 and 2020 , split evenly between spec projects and build-to-suit construction .
“ We didn ’ t overbuild in the last market cycle , and I don ’ t know that we will necessarily overbuild in this cycle , either ,” he says .“ We need more small- to mid-sized spaces because vacancy is very low , but the cost to build is too high . We ’ re still going to have constraint in this size range until lease rates climb to a point where a reasonable return can be achieved .”
Mark Demetre , executive vice president at Colliers International ’ s Sacramento office , says that his company has recently negotiated “ a few deals in the 20,000- to 50,000-square-foot range for 68 to 72 cents per square foot per month triple net .” He adds that rental rates experienced slight gains in 2020 following annual increases over the previous few years of up to 12 %. “ After we get a handle on COVID-19 and / or we figure out how to live with it , I believe there will be another big spike in industrial lease rates to balance and promote new spec development ,” he says .
GSEC ’ s Broome says the region ’ s greatest need is for ready-to-go space for advanced manufacturing , which has posed something of a chicken-and-egg dilemma . He explains that area developers have been less inclined to fund facilities for industries like cell therapeutics , pharmaceuticals and electric vehicles on spec due to high construction costs , but that the companies in these fields that are interested in coming to Sacramento want existing buildings they can retrofit rather
78 comstocksmag . com | February 2021