Crexi Unites Fresno Commercial Real Estate with Online Marketplace

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Data makes all the difference in commercial real estate, mainly as investors narrow their focus to a specific region. Informed insights and verified third-party research empower investors to make the best business decisions and recoup successful returns on their investments. 

Fresno’s healthy commercial real estate market provides fertile soil for CRE buyers and brokers to forge fruitful deals, while tenants flock to the growing region for business opportunities. Crexi serves as the meeting place for all three groups and connects interested parties to the most valuable properties in Fresno. 

Crexi provides a centralized platform that combines a vibrant sales and leasing marketplace with powerful broker marketing tools and valuable regional data insights. 

Nearly 92% of Crexi’s online traffic are buyers and tenants searching for Fresno properties that align with their investment goals. Nationwide, too, thousands of commercial real estate brokers use Crexi to conduct the entire CRE transaction virtually.

Crexi’s goal is to bridge the gap between brokers, buyers, and tenants with a single online platform that simplifies the transaction process. With over $200 billion in facilitated transactions and over 330,000 listings posted since its 2016 launch, Crexi serves Fresno as the nation’s leading online commercial real estate marketplace and resource library.

How Crexi Connects Buyers to Fresno Properties

Fresno buyers and tenants use Crexi’s online marketplace to find properties quickly. As a central California metro, Fresno has established itself as an industrial and office building hotspot and attracted the interest of commercial giants, manufacturers, and the medical sector. Fresno’s centralized location makes it an active logistics hub for retailers selling up and down the state, and as labor demand spikes, so too does interest in multifamily pursuits.

Investors, sellers, and tenants can browse thousands of Fresno properties on Crexi at no cost, using the search feature to narrow down options by square footage, price, asset class, cap rate, and other criteria to find their ideal investment.

Once the perfect property is discovered, investors and tenants can contact brokers directly through Crexi. In seconds, interested parties can download OMs, browse photos, and even submit letters of intent (LOI) through Crexi’s secure database.

Intelligence: Market Knowledge is Power

Crexi’s Intelligence offering equips tenants and investors with the data insights they need to make smarter commercial real estate choices. With Intelligence, principles can access market reports for over 50 MSAs, 40 million property records, and 13 million historical sales comparables, all verified by government and third-party sources. 

Intelligence is available to buyers and sellers on a subscription basis.

How Fresno Brokers Use Crexi

Crexi’s Fresno marketplace reveals healthy regional activity, with over 300 sale properties and over 1300 listings for lease in the city alone. Fresno’s commercial activity skews towards industrial and office classes, with recent trends featuring warehouses, manufacturing units, and medical offices.

Fresno brokers can list properties and manage leads with Crexi’s robust lead-management dashboard at zero cost. Crexi empowers brokers and brokerage firms in Fresno to maintain a healthy range of property types including:

  • Industrial units
  • Offices
  • Land parcels
  • Development sites
  • Multifamily units
  • Retail sites
  • Non-traditional buildings such as self-storage, medical offices, etc.

Crexis open marketplace allows brokers to securely facilitate every piece of a commercial real estate transaction online. Lead contact tools, buyer insights, pipeline management, and an encrypted due diligence vault empowers brokers to easily manage pursuits and close more deals at zero cost. However, the true power of Crexi’s platform emerges with the added capabilities of Sale PRO and Lease PRO.

Crexi PRO Dashboard 2020

Crexi Sale PRO & Lease PRO

With Crexi Sale PRO and Lease PRO, brokers gain detailed contact information and actionable insights into email marketing analytics. PRO users can download customize lead reports directly inside their dashboards and use them as call lists and for seller reporting. As an added value, Crexi features PRO users’ listings at the top of all search pages and includes them in Crexi’s weekly email blasts — received by thousands of buyers with a click-through rate of 10-15%.

PRO subscribers also enjoy unlimited access to Crexi’s Intelligence database, featuring over 40 million sales comparables sourced from one of the US’s most extensive data companies and verified by third-party state and local sources. Crexi also offers PRO users access to over 50 market reports on the nation’s top MSAs.

California brokers — and Fresno brokers in particular — champion Crexi’s marketplace as approximately 40% of listings published through the PRO offering. These Fresno-based brokers employ Crexi Sale PRO and Lease PRO to connect with over 60,000 buyer and tenant leads in California alone. Not to mention the 430,000 monthly visitors Crexi’s site receives each month looking to Fresno as a viable investment and leasing opportunity. 

On average, Fresno Crexi brokers close six to eight times more deals using PRO.

“In terms of what you get for what you spend, it’s far better than the competition. I enjoy the interface, and the content is valuable. “- James Bitter, Fresno Crexi PRO Broker

The State of CRE in Fresno

Fresno is the fifth-largest city in the world’s fifth-largest economy: California. Fresno County serves as the state’s strategic center for commercial and business interests and is a vibrant hub with healthy commercial real estate growth in industrial and office asset classes.

Fresno Regional Breakdown

Fresno is the county seat of Fresno County with a population of over one million residents and counting, thanks to its healthy job sector and attractive, nation-leading residential real estate options. The city population grew 5% from 2010 to 2019 and is expected to grow as the region’s affordable real estate options attract a more significant number of millennials seeking low-cost investments and job opportunities for well-trained workers.

The unemployment rate in Fresno County hit 8.1% in January 2020, down from 9% one year prior with significant gains in health services, education, professional services, and manufacturing/trade positions. Fresno ranks as the 18th most affordable place to live in the US in 2019, with a low cost of living and median household income of $44,853.

Fresno Industrial Market

Fresno County and Fresno serve as Central California’s e-commerce hub, with multiple manufacturing plants and fulfillment warehouses calling the region home.  

The county is poised as an attractive market for commercial pursuits, thanks to its fast permitting process, plentiful opportunity zones, business incentives, and attractive, available inventory. Recent wins such as Amazon, Ulta, and Gap e-commerce fulfillment warehouses have cemented Fresno’s standing as a regional commercial hub where businesses and investors can grow profits.

In 2018, Fresno County featured 64.8 million square feet in inventory, with net absorption of over 600,000 square feet market-wide, where over half the intake occurred in the southeast corner of the region. The average leasing rate was approximately $0.45 per square foot at the end of 2018, up from $0.35 in 2016 as demand increases.

The industrial market fell to an overall vacancy rate of 1.5%, with some submarkets recording vacancy rates below 1% at the end of 2018. The cause of this is two-fold: development has ramped down in recent years, and tenants are moving north to where new buildings are being constructed. People aren’t coming from other marketplaces – instead, existing Fresno tenants are choosing to move based on landlord behavior and incentives. Too, many units are 50,000+ square feet “big-box” properties, absorbed by long-time tenants such as Amazon and Ulta.

Fresno Office Market

Fresno features a thriving market in the office asset class, with an even balance of office and medical properties. There’s a heavy medical presence in the area, with Valley Children’s Home, a Kaiser Permanente, several medical insurance offices, and the Community Regional Medical Center, host to the only level 1 trauma center in the Central Valley.

In the office asset class, the most active markets were downtown Fresno and the Airport neighborhood in 2019. Overall office vacancy rates fell to 9.9% at the close of 2019 from its 2018 rate of 11.4%, while average rent prices increased a marginal $0.03 per square foot in 2018.

Several new developments are expected to deliver early 2020, increasing Fresno’s office inventory by 200,000 square feet in 2019. 2020 is expected to bring healthy sales activity, particularly as these buildings complete construction.

Fresno Retail Market

Fresno’s retail market is modest and healthy. Most retail offerings are in central and downtown Fresno, as opposed to industrial and offices outside the city’s center. 

Vacancy rates have steadily decreased from a record 2010 high of 40% to below 6% at the end of 2018. With low vacancy comes a steady hovering of rental rates at just below $14 per square foot. Most commercial absorption comes from tenants moving within the Fresno market as opposed to new occupants arriving from outside the region.

Fresno Multifamily Market

The steady population and employment rates in Fresno County keep vacancy rates in the multifamily sector below 5%, even across building classes. As millennials especially migrate to the Central Valley, investors can expect to see a growing ROI with consistent demand, as seen in the steady rise in average asking rent from approximately $800/unit in 2014 to $1,000 per unit in 2019.

New developments are expected in 2020 to accommodate the population influx, with matching reduced vacancy rates and rent increases. This combination makes Fresno one of the US’s best destinations for multifamily commercial investments.

Contact to learn more about Sales PRO and Lease PRO.

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Shanti Ryle
Shanti Ryle

Content Marketing Manager

Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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