SACRAMENTO—Located roughly 90 miles northeast of San Francisco and 120 miles northeast of San Jose, Sacramento has long been thought of as too far from the heart of Silicon Valley to function as anything other than The Golden State's administrative epicenter. But according to investment management firm JLL, this may be about to change.
In a report published shortly after Steinberg's speech, JLL listed Sacramento — alongside the likes of Albany, NY, and Colorado Springs, CO — as a startup-friendly “hidden gem.” “Given Sacramento's lower cost of living relative to the Bay Area and the lower salary costs for employers, Bay Area companies looking to expand into new locations could give Sacramento a long look,” says JLL Director of Local Markets Julia Georgules.
For commercial real estate (CRE) investors, this imminent — and, in some respects, already unfolding — tech boom means that now is the time to invest in multifamily and office assets in the Sacramento area.
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