DSP study reveals downtown market strengths and opportunities
In 2014, DSP commissioned Mering Carson to conduct a research study of Downtown Sacramento’s office market to understand strategic advantages and opportunities.
“Downtown Sacramento is on the cusp of a new cycle of economic growth. This study provides valuable insights that will allow us to be strategic in how we accelerate downtown’s growth,” said DSP Executive Director Michael Ault.
The 3-phase research project was conducted over a 7-month period April through October 2014 and analyzed the perceptions of 3 distinct audiences, which included focus groups with property owners & brokers, a quantitative online survey of local employees, and in-depth interviews with key decision makers of businesses around the region. While focused on the office market, the study touched on perceptions related to housing, transportation, and amenities.
Some of the key takeaways include:
- The downtown arena is helping build demand for downtown. Interest in working and living downtown will increase when the ESC is completed.
- Downtown’s office market has unrealized potential to grow and diversify with Class B and Class C office space. Even though downtown has a robust inventory of non-traditional office space, there is unmet demand from small businesses and creative industries for unique, urban office space
- Connectivity is key to downtown’s success. Improvements to the pedestrian experience, access to multi-modal transportation options, and connections to central city neighborhoods such as Midtown, R Street and West Sacramento will help fuel growth in all areas.
Click here to view the full report. For more information regarding the office market study, please contact Valerie Mamone-Werder at [email protected].