Business Journal: Rent Hikes Squeezing Businesses

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(Sacramento, CA)
Monday, February 27, 2006

Development in Sacramento’s central has a noticeable momentum … with urban lofts, new restaurants, and an influx of chic stores. But rents are rising … affecting small shopowners. Young’s Fireside Shop will be vacating the midtown corner where it’s been for a half century.

The Beat music store at 17th and J is searching for new quarters. The owner of the Gifted Gardener, also in midtown, is worried about next year’s rent increase. A survey of 25 midtown buildings this year finds rents 65% higher than in 2003 … and in downtown Sacramento, the rents are up 40%.