Professional Documents
Culture Documents
MARKET SNAPSHOTS
cbcworldwide.com
Sources of Information
Each market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.
Table of Contents
AL - Birmingham AL - Dothan, Houston County AL - Montgomery AK - Anchorage AR - Hot Springs AR - Jonesboro AR - Little Rock AZ - Sedona/Verde Valley CA - Arcadia CA - Inland Empire North/Victor Valley CA - Los Angeles CA - Los Angeles, Westside CA - Modesto CA - Napa Valley/Napa County CA - Orange County CA - Redding CA - Sacramento Greater Area CA - San Gabriel/San Fernando Valley CA - Southwest Riverside County CO - Western CT - Danbury/Upper Fairfield/New Haven CT - Fairfield County DE - Sussex County FL - Brevard County FL - Charlotte/Sarasota Counties FL - Daytona/Ormond Beach, Volusia County FL - Destin FL - Florida Keys FL - Gainesville FL - Indian River County FL - Jacksonville FL - Lakeland/Winter Haven FL - Melbourne/Brevard County FL - Naples/Ft. Myers FL - Orlando FL - Polk County FL - Sarasota/Manatee/Charlotte Counties FL - Southern FL - St. Lucie County FL - Tallahassee FL - Tampa/St. Petersburg GA - Athens GA - Atlanta GA - Chatham County GA - Columbus GA - Hinesville/Fort Stewart GA - Lake Oconee/Lake Sinclair GA - Macon, Bibb County HI - Honolulu ID - Boise ID - Coeur d Alene IL - Bloomington/Normal, McLean County IL - Champaign/Urbana IL - Chicagoland IL - Madison/St. Clair Counties IL - Peoria County IL - Sangamon County IN - Delaware County KS - Garden City KS - Kansas City Metro Area KY - Louisville Metro KY - Southern LA - Acadiana LA - New Orleans ME - Midcoast MD - Suburban MA - Pioneer Valley MI - Middle 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 MI - Western MN - Mankato MN - Minneapolis/St. Paul Metro Area MN - St. Cloud/Central MO - St. Joseph MS - Gulfport/Biloxi MT - Billings NE - Lincoln NV - Reno/Sparks NJ - Central NJ - Morris County NJ - Northern NM - Albuquerque NY - Albany NY - Long Island NY - New York City NC - Southeastern NC - Triad Area NC - Triangle ND - Fargo/Moorhead OH - Lorain County OK - Oklahoma City OR - Portland OR - Salem PA - Pittsburgh PA - Southeastern PA - York/Lancaster/Harrisburg SC - Charleston SC - Columbia SC - Greenville/Spartanburg SC - Myrtle Beach SD - Rapid City TN - Chattanooga Metro Area TN - Knoxville/East TX - Abilene TX - Austin TX - Bryan/College Station TX - Dallas/Fort Worth TX - Houston TX - Lubbock TX - Rio Grande Valley TX - San Antonio TX - Waco, McLennan County UT - Salt Lake County VA - Lynchburg WA - King County WA - South Puget Sound WA - Tacoma WA - Vancouver & Southwest WI - Janesville/Beloit WY - Cheyenne Metro INTERNATIONAL MARKETS Bermuda Canada - Belleville Canada - Greater Toronto Area Canada - Kelowna/West Kelowna Canada - Nanaimo, BC Canada - Ottawa, Ontario Canada - Waterloo Region Colombia - Cartagena Greece Ireland Mexico - Mexico City The Netherlands Turkey - Istanbul United Arab Emirates 38 38 39 39 40 40 41 41 42 42 43 43 44 44 45 45 46 46 47 47 48 48 49 49 50 50 51 51 52 52 53 53 54 54 55 55 56 56 57 57 58 58 59 59 60 60 61 61 62 62 63 64 64 65 65 66 66 67 67 68 68 69 69 70 70
AL - Birmingham
DEMOGRAPHICS
CBSA BirminghamHoover, AL
MARKET HIGHLIGHTS
The construction of a new ballpark
DEMOGRAPHICS
CBSA Dothan, AL
MARKET HIGHLIGHTS
New Medical College is under
Square Miles
5,298
Population
1,135,190
in Birminghams Southside has spawned a number of real estate transactions in the Industrial sector. Also due in part to the new ballpark development, the Central submarket experienced the largest amount of positive absorption in the Q2. Maur department store is leasing 187,000 SF and will be the fifth department store in the mall.
Square Miles
1,718
Population
143,295
$55,642
485,749
dining enter the market. New restaurants like Which Wich, Lime Fresh Mexican Grill, Little Donkey, Tellinis Italiano and Seasons 52 have either just opened or will open soon. Services leased 21,000 + SF at The Forum Building. Accretive Health is new to Birmingham, and Birmingham was chosen over several other cities in the Southeast. senior citizens, leased the 45,540 SF former Havertys Furniture Showroom in Irondale.
Unemployment
Unemployment
8.30%
CONTACT
Coldwell Banker Commercial Moore Company Realty 2 Office Park Circle, Suite 110 Birmingham, AL 35223 (205) 871-2088 www.cbcmcr.com
CONTACT
Coldwell Banker Commercial Alfred Saliba Realty 410 North Shady Lane Dothan, AL 36303 (334) 793-6600 www.alfredsalibacommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n p q
Vacancy
q p n
Vacancy
n n n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p q p
Vacancy
q p p
4
Vacancy
n n n
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
AL - Montgomery
AK - Anchorage
DEMOGRAPHICS
CBSA Montgomery, AL
MARKET HIGHLIGHTS
Alabama heats up as the place to
DEMOGRAPHICS
CBSA Anchorage, AK
MARKET HIGHLIGHTS
In July of 2012, Cabelas announced
Square Miles
2,725
do business: Expansion of Mercedes in Vance; Expansion of Hyundai in Montgomery; Expansion of Honda in Lincoln; Airbus to open its North American plant in Mobile. Retail is succeeding in their desired demographics. Call volume has increased for all product types. in downtown historic district.
Square Miles
26,379
plans to build a 100,000 SF store in Anchorage. New national retailers continue to have success moving into the market, including Olive Garden and Buffalo Wild Wings. to have a low vacancy rate of 6.1%. upward growth path
Population
367,157
Population
378,904
147,017
137,722
$52,679
price range of $80/SF find traction. its ancillary jobs created, there is optimism in the market.
144,160
locations as their current leases expire, creating new construction projects and leaving behind older vacant facilities. with vacancy - the only product available is less desirable facilities due to ceiling height and electrical capabilities.
162,368
Unemployment
8.90%
cargo break point for intermodal product arriving in the Port of Mobile.
Unemployment
6.90%
CONTACT
Coldwell Banker Commercial Moore Company Realty 121 Coosa St., Suite 250, Montgomery, AL 36104 (334) 262-1958 www.cbcmcr.com
CONTACT
Coldwell Banker Commercial NRT - AK 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (907) 694-4944 www.coldwellutah.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
q p n
Vacancy
n n n
Vacancy
n p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
q p p
5
Vacancy
n n p
Vacancy
n p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
AR - Hot Springs
AR - Jonesboro
DEMOGRAPHICS
CBSA Hot Springs, AR
MARKET HIGHLIGHTS
New tenants in the market include
DEMOGRAPHICS
CBSA Jonesboro, AR
MARKET HIGHLIGHTS
NEA Baptist Hospital is building a
Square Miles
677
estate in the area have remained minimal. under contract for the construction of two new hotels. this year but the average price/unit was reduced. with the Chamber of Commerce, is working on plans to further the revitalization of the historic downtown. through Q2 of 2012 have exceeded the year 2011 sales.
Square Miles
711
new facility with new technology and a new health care model for Northeast Arkansas.
Population
98,888
Population
96,443
expanding and was named in the Best Colleges Regional Universities South 2012. Jonesboro: Cheddars, Five Guys Burgers, Buffalo Wild Wings and Panera. Jonesboro: Academy Sports, Kirklands and Sissys Log Cabin.
43,175
$42,222
$42,931
32,750
37,743
CONTACT
Coldwell Banker Commercial RPM 401 Section Line Rd., Suite F Hot Springs, AR 71913 (501) 520-4000 www.cbcrpm.com
CONTACT
Coldwell Banker Commercial Village Communities 2704 S. Culberhouse, Suite A Jonesboro, AR 72401 (870) 935-7800 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q p n
Vacancy
n n n
Vacancy
q n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
n n q
Vacancy
n n n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
AR - Little Rock
AZ - Sedona/Verde Valley
DEMOGRAPHICS
CBSA Little RockNorth Little Rock-Conway, AR 4,090
MARKET HIGHLIGHTS
Welspun Corp. Ltd. announces $100m
DEMOGRAPHICS
CBSA Flagstaff, AZ
MARKET HIGHLIGHTS
Historic Oak Creek Canyon Resort
July grand opening of its new $62m, 190,000 SF Corporate Center in West Little Rock. employment and invests $6m in expansion/relocation to Sherwood facility. quarter of positive absorption.
Square Miles
18,617
Population
130,596
Population
690,456
46,597
276,042
$52,993
290,765
Use Mann Building project in CBD, to include Multi-Family, Retail and Office.
Unemployment
8.30%
CONTACT
Coldwell Banker Commercial Hathaway Group 2100 Riverdale Rd., Suite 100 LIttle Rock, AR 72202 (501) 663-5400 www.hathawaygroup.com
CONTACT
Coldwell Banker Commercial First Affiliate 195 W. State Route 89A Sedona, AZ 86336 (928) 282-4666 www.cbsedonacommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
n p n
Vacancy
n n q
Vacancy
p q n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q q n
Vacancy
n q n
7
Vacancy
n n n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Arcadia
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA 4,850
MARKET HIGHLIGHTS
This market is experiencing slow
DEMOGRAPHICS
CBSA Riverside-San BernardinoOntario, CA 27,260
MARKET HIGHLIGHTS
Macys, JCPenney and Fitness 19 are
available.
4,288,080
1,350,253
seller expectations.
to similar or larger SF buildings; taking advantage of low rates, better locations &/or more suitable facilities. there are signs of expansion from out of the area users with space requirements ranging from 1,000 SF to 1,500 SF. doing 1-3 year lease terms with minimal concessions and TI allowances with options at market.
$60,485
$52,845
5,313,010
1,156,307
CONTACT
Coldwell Banker Commercial George Realty 660 W. Huntington Dr. Arcadia, CA 91007 (626) 445-6660 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Real Estate Solutions 15500 W Sand St., 2nd Floor Victorville, CA 92392 (760) 684-8000 www.cbcdesert.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
Vacancy
p q q
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p q q
Vacancy
q p n
8
Vacancy
q p q
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Los Angeles
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA 4,850
MARKET HIGHLIGHTS
Apple is opening a mega store in
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA 4,850
MARKET HIGHLIGHTS
Strongest property sectors are
Multi-Family, single-tenant NNN Investments, Medical Office and Industrial (due to the scarcity of the product and ability to convert to creative Office uses). the Santa Monica-Venice creative corridors, Beverly Hills, West Hollywood and Brentwood. and financing is readily available. Cap rates in A/B areas are 4%-5%; B/C areas range from 4.75%-6.5%. much of it chasing similar product well located property with strong tenants and/or upside potential. Most Investors continue to be risk-averse and opt for lower returns on less risky Investments. opportunities to build with severalhundred-thousand SF of Multi-Family, creative Office and Mixed-Use developments in the pipeline, slated to come on line in 2014-2016. trending upwards with more offer activity, more sales and shorter marketing times.
Population
12,935,173
4,288,080
4,288,080
$60,485
$60,485
Unemployment
10.30%
Unemployment
10.30%
CONTACT
Coldwell Banker Commercial WESTMAC 1515 Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700 www.westmac.com
CONTACT
Coldwell Banker Commercial NRT - Los Angeles 11999 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 (310) 820-6651 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
Vacancy
q p p
Vacancy
q p p
Vacancy
n p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p q
Vacancy
q p p
9
Vacancy
q p p
Vacancy
n q p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Modesto
DEMOGRAPHICS
CBSA Modesto, CA
MARKET HIGHLIGHTS
Stanislaus County is located in
DEMOGRAPHICS
CBSA Napa, CA
MARKET HIGHLIGHTS
Napa City Council approved the
Square Miles
1,494
the Central Valley. Its county seat is Modesto, which is where many people in the surrounding areas shop. employing approximately 18,000 people or 11.3% of the total 160,000 people that are employed. Unemployment varies based on the fact that most of the AG jobs are seasonal. have been attracting new tenants with some major remodeling. Due to lack of new construction, the vacant space has been absorbed as needs arise. Kaiser Permanente built a major hospital complex with Memorial Hospital making a major expansion. government sector based on tax assessments being lowered due to downturn in real estate values. Leveling out has occurred and all are hoping real estate prices will start to rise in 2012. This will only come if the unemployment in the area starts to decline. good centers and locations.
Square Miles
754
Downtown Specific Plan, making way for more favorable development guidelines, options for downtown living, more green areas, bike-friendly paths and the return of two-way streets. the Napa Town Center. His proposed rejuvenation project is expected to attract more world-class retailers and restaurateurs. the city of Napa have declined to about 14%.
Population
135,273
167,008
52,057
$49,395
$72,042
140,743
60,343
County consists of over 16 million SF, with a current vacancy rate of less than 8%. the Up Valley (Calistoga, St. Helena and Yountville) Commercial real estate market saw a resurgence of sales and leasing activity.
Unemployment
15.80%
Unemployment
7.80%
CONTACT
Coldwell Banker Commercial Vinson Chase, Realtor 220- C Standiford Ave Modesto, CA 95305 (209) 577-2121 www.cbcworldwide.com
CONTACT
Buyers, especially developers, Coldwell Banker Commercial appear to be coming back into the Brokers of the Valley commercial marketplace, eager to 1775 Lincoln Ave. make the most of attractive prices Napa, CA 94558 and low interest rates. (707) 224-8454 www.napacommercialproperties.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
q p n
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
q p p
10
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Orange County
CA - Redding
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA 4,850
MARKET HIGHLIGHTS
Office market has nearly 1,000,000 SF
DEMOGRAPHICS
CBSA Redding, CA
MARKET HIGHLIGHTS
Retail markets show surprising
Square Miles
3,785
million or $434/SF.
4,288,080
$60,485
$45,729
5,313,010
53,468
Unemployment
10.30%
Unemployment
13.10%
CONTACT
Coldwell Banker Commercial NRT - Newport Beach 4 San Joaquin Plaza Suite 260 Newport Beach, CA 92660 (949) 644-1600 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial C&C Properties 2155 Larkspur Lane, Unit A Redding, CA 96002 (530) 221-9638 www.cbcnorthstate.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p q
Vacancy
n p q
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
11
Vacancy
n n n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DEMOGRAPHICS
CBSA Sacramento-Arden-Arcade-Roseville, CA 5,094
MARKET HIGHLIGHTS
Greater Sacramento area commercial
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA 4,850
MARKET HIGHLIGHTS
The area is experiencing heavy
Square Miles
market is still very slow. Sales of some small free-standing Retail properties have been picking up lately.
investor and user activity due to low interest rates and low vacancy. to jump in the next 6 months.
Square Miles
Look for lease rates and sales prices Retailers are back and so is their 1,700 upscale Apartments are
Population
12,935,173
801,834
$61,184
Broadstone lifestyle center in suburban Folsom is still under construction and is expected to be completed 2013.
4,288,080
$60,485
727,825
5,313,010
Unemployment
10.80%
Unemployment
10.30%
CONTACT
Coldwell Banker Commercial NRT - Sacramento 730 Alhambra Blvd., Suite 150 Sacramento, CA 95816 (926) 447-5900 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial North County 801 N Brand Blvd., Suite 180 Glendale, CA 91203 (818) 334-1900 www.cbcnco.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q p n
Vacancy
q n p
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A
Vacancy
MULTI-FAMILY
q p q
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
n p
12
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CO - Western
DEMOGRAPHICS
CBSA Riverside-San BernardinoOntario, CA 27,260
MARKET HIGHLIGHTS
The overall market continues to
DEMOGRAPHICS
CBSA Grand Junction, CO
MARKET HIGHLIGHTS
The healthcare system in the Grand
stabilize with increased activity in all sectors. Office, Industrial and Retail markets. two major markets with over 70,000 SF. 12.5%, down from 15%, bringing optimism among business owners. acres recently sold in Lake Elsinore, CA for $1,500,000.
Square Miles
Vacancy levels are stable across the Anti Gravity Sports is moving into
Square Miles
3,328
Valley is nationally renowned, highly integrated, community-focused and unique to Western Colorado. The Physician-created Health Plan boosts care quality, lowers costs and is touted as a National model. Western Colorado and Eastern Utah. The City of Grand Junction sales and use tax revenue increased by 1.7% from June of 2011 to June 2012. The Sales and use tax revenues comprise more than 40% of the City of Grand Junctions total revenues. destination. The area offers world renowned mountain bike trails, growing agri-tourism industry, and the largest concentration of vineyards and wineries in the state. The lodging taxes collected in Q2 of 2012 had an increase of 6.3%. are up more than 13% in the Q1 2012. City of Grand Junction building permit valuation is down in Q2 more than 18% compared to Q1 2012. However, yearto-date new construction permits are up more than 37% from June 2011.
Population
4,171,856
Population
148,298
1,350,253
60,317
$52,845
$47,409
1,156,307
Unemployment
12.60%
Unemployment
9.40%
CONTACT
Coldwell Banker Commercial Sudweeks Group 27708 Jefferson Ave., Suite 201 Temecula, CA 92590 (951) 200-7683 www.cbcsuds.com
CONTACT
Coldwell Banker Commercial Prime Properties, LLC 2646 Patterson Rd., Suite B Grand Junction, CO 81506 Colorado Mesa University Campus (970) 243-7375 www.grandjunctioncommercial.com continues to expand including a state-
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q n
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q p p
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p n q
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q p q
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
q p n
Vacancy
p q q
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
Rental Rates
13
CT - Fairfield County
DEMOGRAPHICS
CBSA BridgeportStamfordNorwalk, CT 626
MARKET HIGHLIGHTS
LL Bean (16,000 SF) is the latest NNN
DEMOGRAPHICS
CBSA BridgeportStamfordNorwalk, CT 626
MARKET HIGHLIGHTS
Fairfield Countys Office market
Square Miles
Population
904,874
tenant to take space at Danbury Fair Mall. Others include: Forever 21, Brio, Cheesecake Factory and Dicks Sporting Goods. Guidepost Publications has leased 54,000 SF of Class A Office space at the Matrix Corporate Center, in Danbury, CT.
Square Miles
Population
904,874
ended the Q2 of 2012 with a vacancy rate of 14.0% up from 13.5% with net absorption totaling negative 310,857 SF, compared with 68,806 SF in the Q1. Vacant sublease space increased to 850,551 SF up from 807,000 SF at Year End 2011. sublease space increased across the board from 2011 Year End. Office went from 599,000 SF to 851,000 SF; Industrial from 74,000 SF to 81,000 SF and Retail from 16,000 SF to 21,000 SF. Healthcare Research Institute leased 15,000 SF of Office. Gamma Aviation leased 15,000 SF of Industrial. Terrain Inc. leased 22,000 SF of Retail. UBS vacated 110,000 SF of Office. Patio. com vacated 20,000 SF of Industrial, and Chase Bank vacated 15,000 SF Retail/Office. was completed in 2012, plus an additional 313,000 SF of Retail is still under construction, however no Office or Industrial construction was completed, yet. There is 166,000 SF still under construction, the largest is 110 Quarry Rd with 74,726 SF. $31.68 /SF for Office.
$91,039
in part to low supply, and an influx of commuting professionals is now redesigning neighborhoods in Brewster, NY. Key transportation outlets allow them to commute to lower Fairfield County, New York City, DC and Boston; while enjoying a more affordable lifestyle. / 95,000 SF Armed Forces Reserve Center in Danbury, CT; Brookfield, CT. Costco is increasing existing building by 15,000 SF w/ a gas station; Danbury Regional Hospice to construct a 30,000 SF center. and multi-generational buyers, single family home sales volume and pricing have improved. Danbury has placed in the Top 10 in the nation for multi-generational living scenarios. continues to bolster Retail rentals, while the weaker housing sector is stimulating Apartment rentals.
Fairfield Countys available, vacantHouseholds Household Income Median Employees (Total) 336,733
$91,039
419,437
Unemployment
7.80%
Unemployment
7.80%
CONTACT
CONTACT
Coldwell Banker Commercial NRT - CT 77 Old Ridgefield Rd. Wilton, CT 6897 (203) 831-4187 www.cbcworldwide.com
Coldwell Banker Commercial Scalzo Group 2 Stony Hill Rd., Suite 101 Bethel, CT 6801 (203) 744-7077 www.coldwellbankerscalzo.com An increase in hiring since Q3 2010
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p q
Vacancy
n n n
Vacancy
p p q
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n q
Vacancy
n n p
14
Vacancy
p q p
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DE - Sussex County
FL - Brevard County
DEMOGRAPHICS
CBSA Seaford, DE
MARKET HIGHLIGHTS
Panera Bread opened a new, free-
DEMOGRAPHICS
CBSA Palm BayMelbourneTitusville, FL 1,018
MARKET HIGHLIGHTS
Space Coast Brevard County offers
Square Miles
938
standing store on Coastal Highway between Lewes and Rehoboth this spring. Several other national tenants are reportedly looking at the Route 1 corridor. County continues to fall. Absorption was strong this spring, and most prime Office space has been leased. Some prime Retail locations remain available but absorption has been good. The three outlet malls continue their long history of strong Retail sales. strong in eastern Sussex. Commercial construction remains slow but availability of financing has improved. County Association of Realtors reported a 22% increase in home sales by volume. The average home price was up 17% over 2011 YTD.
Square Miles
pro-business incentives, low taxes, robust transportation infrastructure, high-tech labor force, 73 degree average temp, and 72 miles of pristine beach. infrastructure for national/international trade including: the second busiest port in the world, a freight railway system and major interstate highways. operations at Melbourne International Airport with a new research and development facility and 200 new engineering jobs . company, is relocating its operations to Melbourne and expects to hire 190 employees to have an economic impact estimated to be over $22.4 million. Coast Regional Airport in Titusville will have an economic impact over $48m. Bertram Yachts new facility in Merritt Island will have a projected economic impact of over $26.3m.
Population
194,215
Population
536,805
78,981
225,977
$52,386
181,926
Unemployment
8.70%
Unemployment
9.40%
CONTACT
Coldwell Banker Commercial Resort Realty 20184 Coastal Highway Rehoboth, DE 19971 (302) 227-5000 www.cbankercommercial.com
CONTACT
prime destination for retirees. Very low property taxes and NO sales tax are strong draws for those on fixed incomes. counties east of the Mississippi based on square miles, but the population is less than 200,000.
Coldwell Banker Commercial Sun Land Realty 1920 Highway A1A Indian Harbour Beach, FL 32937 Brevards June 2012 residential market (321) 777-7743 www.commercialsunlandrealty.com average sale price of $147,500 is up
almost 13% over 2011 prices and the average days on the market of 119 has dropped 16% over 2011.
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FL - Charlotte/Sarasota Counties
DEMOGRAPHICS
CBSA Sarasota BradentonVenice, FL 1,313
MARKET HIGHLIGHTS
A major new development in the area
DEMOGRAPHICS
CBSA Deltona Daytona Ormond Beach, FL 1,103
MARKET HIGHLIGHTS
Joes Crab Shack, a 19,000 SF eating
Square Miles
area and 6,725 SF deck, opened July 1 and is the largest Joes Crab Shack on a pier over the Atlantic ocean. It is the beginning of the recently created entertainment district. properties sold, with one major project being announced by a Canadian development company planning on building one of the areas largest hotel/condo projects. celebrating the first anniversary of the UCF Incubator at Daytona Beach International Airport. a drone test site as well as Next-gen test area.
Hospital expansion, but other than that, not much new commercial construction. flat.
311,173
general.
230,801
146,482
Unemployment
8.80%
Unemployment
9.10%
Beach International Airport, and bed taxes continue to rise in the Hotel/ Motel resort area. Ormond Beach oceanfront park breaks ground.
CONTACT
Coldwell Banker Commercial Sunstar Realty, Inc. 970 Kings Hwy., Suite 1 Port Charlotte, FL 33980 (941) 255-3497 www.sunstarcommercial.com
CONTACT
Coldwell Banker Commercial Benchmark 570 Memorial Circle, Suite 300 Ormond Beach, FL 32174 (386) 672-8530 www.benchmarkdaytona.com
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FL - Destin
FL - Florida Keys
DEMOGRAPHICS
CBSA Fort Walton Beach Crestview Destin, FL 936
MARKET HIGHLIGHTS
There has been increased velocity in
DEMOGRAPHICS
CBSA Key West, FL
MARKET HIGHLIGHTS
Fast Buck Freddies closed in Key West
Square Miles
997
Square Miles
Population
178,019
year low, with less than 1 year of inventory. process with price reductions.
and expanding. Retail is contracting. Hospitality and Restaurants are doing well. store in the Middle Keys. Publix has opened a second store in Key West. Bank branches are consolidating.
Population
73,047
$60,945
the rate of 10% annually. Distressed properties represent only 13% of all properties for sale. booming with the highest ADRs and occupancies in the state. related to the availability of building permits.
29,685
CONTACT
Coldwell Banker Commercial United, Realtors 4458 Legendary Dr. Destin, FL 32541 (850) 376-7289 www.cbcunitedgulfcoast.com
CONTACT
Coldwell Banker Commercial Schmitt Real Estate, Co 11100 Overseas Hwy. Marathon, FL 33050 (305) 743-5181 www.cbcworldwide.com
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FL - Gainesville
DEMOGRAPHICS
CBSA Gainesville, FL
MARKET HIGHLIGHTS
91 percent of deals being done in the
DEMOGRAPHICS
CBSA Sebastian-Vero Beach, FL
MARKET HIGHLIGHTS
Large grocery store closed on US 1. Overall market conditions are
Square Miles
1,223
percent were Office and 15 percent Retail. absorption and a 3,600 SF positive lease absorption.
Square Miles
gradually improving.
503
Population
261,674
Population
135,534
family is up in 2012.
113,545
gross and average Retail lease rate is $15.72/SF NNN. market 426 days and average Retail listing is on the market 585 days.
$45,060
87,322
43,595
Unemployment
7.30%
there is a tremendous amount of lease activity occurring, but little sale activity.
Unemployment
11.30%
CONTACT
Coldwell Banker Commercial M.M. Parrish Realtors 3870 NW 83rd St. Gainesville, FL 32606 (352) 264-3772 www.mmparrish.com/commercial
CONTACT
Coldwell Banker Commercial Ed Schlitt, L.C. 1950 U. S. 1 Vero Beach, FL 32960 (772) 460-2081 www.cbc.flcoldwellbanker.com
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FL - Jacksonville
FL - Lakeland/Winter Haven
DEMOGRAPHICS
CBSA Jacksonville, FL
MARKET HIGHLIGHTS
The medical practice of Dr. Scott
DEMOGRAPHICS
CBSA Lakeland Winter Haven, FL 2,010
MARKET HIGHLIGHTS
LEGOLAND Florida attendance
Square Miles
3,221
Population
1,334,380
and Karen Warren purchased a 7,886 SF Retail building in Ponte Vedra Beach, FL for just under $1.79m. CBC Benchmarks Colin Nicholson and Travis Lemley represented the Heritage Bank of Florida in the REO sale. based REIT, agreed to purchase the Samsonite distribution facility at Imeson Industrial Park in Jacksonville, FL. The 817,680 SF building sold for $42.5m or $52/SF Apartment property sold for $38.6m or $150,194/unit. The sale is just less than last years highest perunit transaction, $153,405/unit, of Tattersail at Tapestry Park. and golf headed to the Olympics in 2016, there is increased international interest in golf properties. Visit www. cbcgolfcoursesales.com for more information. Five new course listings have been added in the last two months.
Square Miles
exceeding expectations. The water park opened in May 2012. CBC Saunders Ralston Dantzler launch commercial sites at Legoland for restaurants and hotels. Warehouse to 1 million SF.
Population
606,019
Global Income Trust Inc., an OrlandoHouseholds Household Income Median Employees (Total) 518,910
228,998
Industrial space. No large blocks of space (over 100,000) are immediately available. Floridas 12th University. Expect demand for R & D space in NE Lakeland.
$60,216
$40,730
245,900
Unemployment
8.50%
for expanded call center operation and will hire over 300 employees. drive demand for Apartments; Vacancy is at all time low.
CONTACT
CONTACT
Coldwell Banker Commercial Saunders Ralston Dantzler Realty 114 N Tennessee Ave., 3rd Floor Lakeland, FL 33801 (863) 648-1528 www.srdcommercial.com
Coldwell Banker Commercial Benchmark 4348 Southpoint Blvd., Suite 310 The Summit Contracting Group Jacksonville, FL 32216 of Jacksonville has won a $24.6m (904) 281-1990 contract to build a 230 unit student www.cbcbenchmark.com
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FL - Melbourne/Brevard County
FL - Naples/Ft. Myers
DEMOGRAPHICS
CBSA Palm BayMelbourneTitusville, FL 1,018
MARKET HIGHLIGHTS
Embraer expands, and Mid Air
DEMOGRAPHICS
CBSA Naples-Marco Island, FL
MARKET HIGHLIGHTS
This is the time to buy in Naples/Ft.
Port Canaveral growth continues with more than 3 million cruise passengers in 2011. relocating to Brevard County.
Square Miles
2,025
Retail improves with vacancy down Office continues with vacancy at Industrial has a long way to go. There
Population
536,805
Population
320,101
225,977
132,487
$56,299
$76,515
181,926
115,960
Unemployment
9.40%
Unemployment
8.80%
CONTACT
Coldwell Banker Commercial Ed Schlitt, L.C. 235 Fifth Ave. Indialantic, FL 32903 (321) 723-9500 www.cbc.flcoldwellbanker.com
CONTACT
Coldwell Banker Commercial NRT - Naples 550 Fifth Ave. South Naples, FL 34102 (239) 596-6130 www.cbcworldwide.com
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FL - Orlando
FL - Polk County
DEMOGRAPHICS
CBSA Orlando Kissimmee, FL
MARKET HIGHLIGHTS
Baers Furniture moved out of 35,000
DEMOGRAPHICS
CBSA Lakeland Winter Haven, FL 2,010
MARKET HIGHLIGHTS
Lakeland Industrial building sells for
SF in Altamonte Springs.
$13,472,900.
Square Miles
3,491
Population
606,019
8,190 SF on 2700 Combee Rd. in Polk County. Polk County remained virtually unchanged. Slight increases in absorption were noted.
228,998
$40,730
239,100
Unemployment
8.70%
Unemployment
10.00%
that has occurred within the last four Quarters in the Tampa/St. Pete market is the sale of 1515 W. Bella Vista St. in Lakeland. This 180,000 SF Industrial building sold for $13,472,900 or $74.85 per SF on 9/9/11.
CONTACT
Coldwell Banker Commercial NRT - Maitland 901 N Lake Destiny Dr., Suite 110 Maitland, FL 32751 (407) 571-5294 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Winter Haven 290 Cypress Gardens Blvd.. Winter Haven, FL 33880 (863) 294-7541 www.cbcworldwide.com
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21
FL - Sarasota/Manatee/Charlotte Counties
FL - Southern
DEMOGRAPHICS
CBSA SarasotaBradentonVenice, FL 1,313
MARKET HIGHLIGHTS
Industrial absorption is picking up. Manatee County-Feld Industry and
DEMOGRAPHICS
CBSA Key West, FL
MARKET HIGHLIGHTS
Publix opened a second store in Key
Square Miles
Square Miles
997
expansions and new business moving to the Keys. Marathon with a new store.
Population
73,047
demand.
311,173
8% percent overall.
32,553
down over 10% per year for the past 2 years. occupancy in the state. Tourism is driving the recovery.
$71,455
230,801
29,685
Unemployment
9.00%
Unemployment
4.40%
CONTACT
Coldwell Banker Commercial NRT - Sarasota 100 N. Tamiami Trail Sarasota, FL 34236 (941) 925-8586 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Schmitt Real Estate, Co. 11050 Overseas Hwy. Key West, FL 33050 (305) 743-5181 www.cbcworldwide.com
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FL - Tallahassee
DEMOGRAPHICS
CBSA Port St. Lucie, FL
MARKET HIGHLIGHTS
Vacancy in Retail seems to be at
DEMOGRAPHICS
CBSA Tallahassee, FL
MARKET HIGHLIGHTS
Whole Foods is planned to open in
a standstill. Small office space is moving (mostly 3,000 SF and under). greatly in the St. Lucie County, FL area. Inventory is low. year than in the past three years!
Square Miles
1,128
Square Miles
2,387
Population
407,361
Population
361,765
22%. The major reason is the state of Florida is vacating several large spaces. 2013. There are also multiple FSU student Multi-Family projects in progress in College Town.
169,340
$53,266
$47,364
6% the first half of 2012. Inventory is decreasing; prices are stable and increasing in certain areas. 7.9% this time last year, one of the lowest rates in the state.
117,662
111,973
Unemployment
10.90%
Unemployment
7.20%
CONTACT
Coldwell Banker Commercial NRT - Port St. Lucie 1973 SW Savage Blvd. Port St. Lucie, FL 34953 (772) 621-7518 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Hartung & Noblin Inc. 3303 Thomasville Rd. Tallahassee, FL 32308 (850) 386-6160 www.cbcworldwide.com
is finally happening. Mid-town is continuing its Retail expansion. New FSU Student housing projects coming on line (approximately 4,500 beds) in the next few years. Tallahassee has also become a national top retirement destination.
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FL - Tampa/St. Petersburg
GA - Athens
DEMOGRAPHICS
CBSA Tampa-St. PetersburgClearwater, FL 2,554
MARKET HIGHLIGHTS
Moffit Cancer Center is moving into
DEMOGRAPHICS
CBSA Athens-Clarke County, GA
MARKET HIGHLIGHTS
In spring of 2012, Caterpillar Inc.
announced the relocation of a $200 million plant to Athens, GA. 860 acre Industrial parcel between U.S. Highway 78 and GA Hwy 316 in Clarke and Oconee Counties. Caterpillar has already broken ground and will start production in 2013. incomes of Clarke and Oconee Counties.
Square Miles
1,031
1,166,605
$49,596
$40,278
1,059,081
60,760
Unemployment
9.00%
Unemployment
7.50%
created, Caterpillar will indirectly create another 2,800 jobs through its $57 million payroll and $39 million in increased retail spending, generating $1 million in annual sales tax revenue. Georgia Governor Nathan Deal called the relocation a game-changer for Athens and the surrounding counties.
CONTACT
Coldwell Banker Commercial NRT - Tampa 5010 W. Kennedy Blvd., 2nd Floor Tampa, FL 33609 (813) 286-2964 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Upchurch Realty 2405 W. Broad St. Athens, GA 30606 (706) 354-7870 www.upchurchrealtycommercial.com
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24
GA - Atlanta
GA - Chatham County
DEMOGRAPHICS
CBSA Atlanta-Sandy Springs Marietta, GA 8,376
MARKET HIGHLIGHTS
Atlantas office market began 2012
DEMOGRAPHICS
CBSA Savannah, GA
MARKET HIGHLIGHTS
Gulfstream has launched a $500m,
Square Miles
with absorption totaling just over 625,000 SF, an amount equal to almost all of last years total. Atlantas office market recovery continues to show signs of strengthening. topped 240,000 SF in Q1 of 2012 with shopping centers seeing the bulk of the occupancy gains. Atlantas industrial market remains solid. Q2 absorption topped 2.5 million SF, which is the second highest amount of industrial space absorbed in the past four quarters. vacancy rate in the Atlanta region has essentially remained unchanged. The occupancy gains experienced during this period of time have been matched almost equally by the amount of vacant space added to the market. just beginning to show an uptick, anecdotal evidence indicates supply for new housing in desirable locations is running low. will likely see less absorption in the Q3 thanks to a number of consolidations set to occur; yet still remain in positive territory.
Square Miles
1,359
seven-year expansion program at its Savannah facility. As part of the program, Gulfstream will add 1,000 jobs, increasing the workforce to about 6,500 employees in Savannah. dedicated its new $325 million Savannah Machinery Works, a state-of-the-art facility that will manufacture goods to provide power to the electric grid both in the U.S. and around the world. The complex will employ some 500 people and create millions of dollars in economic activity for Georgia. Logistics and Warehousing 400,000 SF cold storage facility. water park / IMAX theater complex. use facility, has broken ground.
Population
5,521,582
Population
347,453
2,028,400
130,609
$60,590
$55,567
2,223,339
129,296
Unemployment
9.30%
Unemployment
9.10%
CONTACT
Coldwell Banker Commercial Metro Brokers 3575 Piedmont Rd. N.E. Building 15, Suite 950 Atlanta, GA 30305 (404) 495-8915 www.cbcmetrobrokers.com
CONTACT
Coldwell Banker Commercial Platinum Partners 6349 Abercorn St. Savannah, GA 31405 (912) 352-1222 www.cbcplatinum.com
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GA - Columbus
GA - Hinesville/Fort Stewart
DEMOGRAPHICS
CBSA Columbus, GA-AL
MARKET HIGHLIGHTS
AFS America, a primary supplier for
DEMOGRAPHICS
CBSA Hinesville-Fort Stewart, GA
MARKET HIGHLIGHTS
The Hinesville/Fort Stewart MSA was
Square Miles
1,937
Hyundai and Kia, has chosen Columbus for a new manufacturing plant, which will bring 65 new jobs. It is expected to be completed by early 2013. Martin Army Community Hospital to house 75 beds, with a total Investment of $408 million. Mercer Medical School by way of a partnership between Mercer, Columbus Regional Healthcare and St Francis Hospital. The first 14 students are studying here now. GA is projected to recover slowly with steady growth. Overall price points combined with low interest rates and rising income provide for an affordability index that is at historic highs. with periods of growth primarily due to the expansion and reallocation of troops coming into Ft. Benning - the new Maneuver Center of Excellence.
Square Miles
920
the 4th fastest growing MSA for Job growth 2010/2011. installation east of the Mississippi River. economic impact on the region.
Population
73,844
117,712
26,115
$49,432
$48,667
between 4 deep water ports, 2 within 45 minutes. disciplined, motivated and trained military retiree work force.
93,485
12,145
Unemployment
9.80%
Unemployment
9.60%
CONTACT
CONTACT
Coldwell Banker Commercial Holtzman Realtors 730 General Stewart Way Hinesville, GA 31313 (912) 408-4040 www.cbcholtzman.com
Coldwell Banker Commercial Kennon, Parker, Duncan & Key 4621 River Rd. Suite C Moodys long term assessment for Columbus, GA 31904 Columbus is that it will outperform (706) 256-1500 www.commercialcolumbusga.com the nation over the next two years.
Overall, southern metropolitan areas are expected to outpace the nation at even greater numbers.
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DEMOGRAPHICS
CBSA Greene County, GA
MARKET HIGHLIGHTS
MetLife completes acquisition of
DEMOGRAPHICS
CBSA Macon, GA
MARKET HIGHLIGHTS
Tractor Supply has begun
Square Miles
345
Reynolds Plantation. Purchase included six championship golf courses, dining, swimming pools, pedestrian trails, marinas, a tennis center and a wellness campus. Lodge, a 251-room lakefront resort and spa, which was named as a 2012 AAA Five Diamond Lodging, and hundreds of acres of prime commercial real estate. leader in biologic medical therapies, has announced it will build a new state-of-the-art manufacturing facility nearby to support growth of its plasma-based treatments, resulting in the creation of more than 1,500 full-time positions in GA. increased in both the local Commercial and Residential market, compared YTD in 2011.
Square Miles
1,725
construction of its 700,000 SF regional distribution facility that will employ 200 people. worlds most dependable sources of aftermarket A/C parts, has leased a 110,000 SF Warehouse in Macon that will serve the Southeast Region and employ over 50 positions. level of manufacturer/distributors being located near the Port of Savannah along Interstate 16 and 75. $20,000,000 polar and wind products manufacturing facility here that will employ over 150 new positions. with national trends; new housing starts are mostly non-existent and resales of existing homes are up 2% over year end 2010. Several new Multi-Family Apartment developments are under way, started in 2011 to be finished in 2012.
Population
21,218
Population
232,119
8,601
89,721
$50,485
$47,145
NW Technologies is constructing a
83,398
5,263
Unemployment
9.40%
Unemployment
10.10%
CONTACT
Coldwell Banker Commercial Lake Country 1020 Greensboro Rd., NE Eatonton, GA 31024 (706) 485-0124 www.cbclakecountry.com
CONTACT
Coldwell Banker Commercial Eberhardt & Barry Local voters approved a 990 Riverside Dr. consolidation of City and County Macon, GA 31201 Governments. (478) 746-8171 www.coldwellbankercommercialeb.com
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N/A N/A N/A
Vacancy
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
27
HI - Honolulu
ID - Boise
DEMOGRAPHICS
CBSA Honolulu, HI
MARKET HIGHLIGHTS
Hawaiis economy remains healthier
DEMOGRAPHICS
CBSA Boise CityNampa, ID
MARKET HIGHLIGHTS
Major grocer openings in the Boise
Square Miles
600
than the continental U.S. However, it is slowing due to stagnant labor markets and limited construction. Tourism remains a bright spot posting an 8.5% increase in visitor arrivals over 2011 levels.
Square Miles
11,788
area market in 2012 include: Fred Meyer, Rosauers Supermarket and Whole Foods opening November 2012. Walmart will open two new locations in 2013/2014 in Meridian, ID. $250m Retail project in Meridian, Idaho, is underway. Developer, CenterCal Properties has leased over 200,000 SF of the projects space. Tenants include Gordmans, Marshalls, Petco, Gap Outlet, Chick-fil-A, Cinema West and Big Als Sports Bar. up an incredible 100% for the Q1 of 2012 compared to 2011. economic improvement characterized by steady, broad-based job growth and increasing property values, both residential and commercial. a tenth of a point to 7.8% in June 2012 the lowest since September 2009.
Population
910,677
Population
610,611
311,782
2011 for 2012, with only military and government projects being awarded, attracting out-of-state firms to compete for these contracts. decreased to 6.4%.
224,823
$67,192
$55,100
365,718
purchased the Island of Lanai, the 6th largest island in the state. The purchase price is estimated upwards of $500 million.
Unemployment
6.40%
Unemployment
CONTACT
Coldwell Banker Commercial Pacific Properties 737 Bishop St., Suite 2000 Honolulu, HI 96813 (808) 526-0896 www.cbcpacific.com
CONTACT
Coldwell Banker Commercial NRT - Boise 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (208) 888-1825 www.coldwellutah.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
p q q
Vacancy
q p q
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p q q
Vacancy
n n n
28
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
ID - Coeur d Alene
DEMOGRAPHICS
CBSA Coeur dAlene, ID
MARKET HIGHLIGHTS
WinCo anchored Shopping Center
DEMOGRAPHICS
CBSA BloomingtonNormal, IL
MARKET HIGHLIGHTS
State Farm Insurance continues
employment growth.
Square Miles
1,245
Square Miles
1,184
Population
140,628
Owner Occupied new construction. stagnant, but Landlord concessions are starting to drop. with Owner Occupied opportunities.
Population
168,918
53,154
70,687
$50,618
49,226
Unemployment
8.00%
Unemployment
7.60%
CONTACT
Coldwell Banker Commercial Schneidmiller Realty 2000 Northwest Blvd.; Suite 200 Coeur dAlene, ID 83814 (208) 664-1461 www.cbcsr.com
CONTACT
Coldwell Banker Commercial Heart of America Realtors 802 S. Eldorado Rd. Bloomington, IL 61704 (309) 662-3377 www.cbhoacommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
n n n
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
29
Vacancy
n n n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
IL - Champaign/Urbana
IL - Chicagoland
DEMOGRAPHICS
CBSA ChampaignUrbana, IL
MARKET HIGHLIGHTS
Carle Hospital has announced plans
DEMOGRAPHICS
CBSA Chicago Naperville Joliet, IL-IN-WI 7,212
MARKET HIGHLIGHTS
The Chicago Industrial market
Square Miles
1,923
Population
227,494
their new Applied Technology Center and begun work on a new Student Services addition. plans for a 800,000 SF facility in Rantoul.
Square Miles
Population
9,617,804
continued to improve in the Q2 of 2012. There was 5,817,000 SF of net absorption. The vacancy rate decreased to 10.6 %. The largest leases signed in 2012 so far are M Block & Sons for 916,000 SF and Bridgestone for 406,000 SF. decreased in the Q2 and Retail vacancy only increased slightly. The reason the vacancy has fallen is because there was very little new construction, and several large new leases were signed. space, 425,000 SF of new Office space and 117,000 SF of new Retail space constructed. These are very nominal amounts of new space when compared to the size of the overall markets. dramatic improvement. Sales of single family homes have increased significantly and prices are starting to increase. The Apartment market continues to flourish with low vacancies, increasing rents and several new projects being built. active with large absorption over the last 3 Quarters. Office has also shown significant improvement, but vacancy rates in the suburban markets are still over 16%.
and has seen a lot of activity in the first half of 2012. very hot with cap rates falling below 6% on the University of Illinois Campus.
$66,775
4,186,171
Unemployment
9.10%
work on their new Ikenberry Commons residence halls and has begun work on a new building on the Engineering Campus.
Unemployment
9.30%
CONTACT
Coldwell Banker Commercial Devonshire Realty 201 W. Springfield, 11th Floor Champaign, IL 61820 (217) 352-7712 www.cbcdr.com
CONTACT
Coldwell Banker Commercial NRT - Chicago 2215 Sanders Rd. Northbrook, IL 60062 (847) 313-4600 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n q
Vacancy
q p n
Vacancy
q p p
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
30
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
IL - Peoria County
DEMOGRAPHICS
CBSA St. Louis, MO-IL
MARKET HIGHLIGHTS
Sams Store purchased property in
DEMOGRAPHICS
CBSA Peoria, IL
MARKET HIGHLIGHTS
Healthcare Industry continues to
Glen Carbon. This is the second store in the Metro East St. Louis market. Edwardsville is completing $200 million + in construction projects this year. leased, and two more projects are under consideration. Force Base.
Square Miles
9,392
Square Miles
2,470
expand in the area. Big R has now leased two large vacant centers in the area. CAT announced a major retrofit of general offices. Economic uncertainty is the biggest factor. is spotty, but there are huge improvements from two years ago. construction starting, and home purchasing is on the upswing. improving, both property sales and leasing. area continues to decline. Caterpillar continues as a major force in Peoria and surrounding areas.
Population
2,858,935
$60,133
consideration.
1,261,660
157,932
Unemployment
9.00%
Unemployment
7.90%
CONTACT
Coldwell Banker Commercial Brown Realtors 2205 South State Route 157 Edwardsville, IL 62025 (618) 692-7290 www.brownrealtorscommercial.com
CONTACT
Coldwell Banker Commercial Devonshire Realty 4507 N. Sterling Ave., Suite 203 Peoria, IL 61615 (309) 692-7707 www.cbcdr.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p n q
Vacancy
n n n
Vacancy
n
N/A
Vacancy
q p q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
n n n
31
Vacancy
q p q
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
IL - Sangamon County
IN - Delaware County
DEMOGRAPHICS
CBSA Springfield, IL
MARKET HIGHLIGHTS
There is a very strong medical
DEMOGRAPHICS
CBSA Muncie, IN
MARKET HIGHLIGHTS
Sallie Mae added 50,000 SF and 200
new jobs.
Square Miles
868
Square Miles
393
Population
196,269
extend leases and IBM is expanding at Heartland Business Center in Daleville. on 72 acre site.
Population
115,425
A new Auto Mall is being developed Three new student housing projects
48,625
totaling 350 units to be completed in 2012-2013. 12.3% and average price up 8.9%. SF and 50 jobs.
$56,722
$40,907
83,238
42,446
Unemployment
7.70%
Unemployment
9.70%
announces completion of new 40,000 SF Industrial shell building. building being constructed at Heartland Business Center in Daleville.
CONTACT
Coldwell Banker Commercial Devonshire Realty 3201 Old Jacksonville Rd. Springfield, IL 62711 (217) 547-6650 www.cbcdr.com
CONTACT
Coldwell Banker Commercial Lunsford 3601 W. Bethel Ave. Muncie, IN 47304 (765) 289-2228 www.cblcre.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
Vacancy
q p p
Vacancy
n n q
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n p n
Vacancy
q p p
32
Vacancy
q p q
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
KS - Garden City
DEMOGRAPHICS
CBSA Garden City, KS
MARKET HIGHLIGHTS
Aztec Oil Company has moved into
DEMOGRAPHICS
CBSA Kansas City, MO-KS
MARKET HIGHLIGHTS
Unemployment has lowered to 7.6%
the area.
Square Miles
1,302
Square Miles
7,857
The new Ford Claycomo plant is Retail sales in the Metro area are
Population
42,609
Population
2,076,653
strong. Center.
13,697
confidence is up.
$43,008
$60,301
13,558
914,989
Unemployment
4.20%
Unemployment
6.80%
CONTACT
Coldwell Banker Commercial The Real Estate Shoppe Inc 1135 College Dr. Suite E Garden City, KS 67846 (620) 275-7421 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Fishman & Company 1948 E. Santa Fe Olathe, KS 66062 (913) 782-9000 www.cbcfishman.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
Vacancy
q p p
Vacancy
n q p
Vacancy
n n p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n p
Vacancy
q p p
33
Vacancy
n p n
Vacancy
q q p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
KY - Louisville Metro
KY - Southern
DEMOGRAPHICS
CBSA Louisville Jefferson County, KY-IN 4,135
MARKET HIGHLIGHTS
Louisville employment has been stronger
DEMOGRAPHICS
CBSA Bowling Green, KY
MARKET HIGHLIGHTS
Holley Performance Products
Square Miles
than many markets during the last two years. Contributors have included the UPS National Airhub, the Ford plants, GE Appliance Park, YUM! Brands, and the vitality of the medical industry (example: Humana acquired Kindred of St. Louis in 2011).
announces $7 million+ expansion. international headquarters in Bowling Green. Anniversary Model. All Corvettes are built in Bowling Green, KY. Kentuckys #1 County for Private Sector Growth for 10 Years.
Square Miles
848
Population
1,263,217
Population
121,646
506,857
$54,741
is high, and cap rates are significantly higher than in glitzier markets. The problem, as elsewhere, is a lack of product as owners hang on to their properties in this time of rising rents and occupancy. There is some new construction. the country. There is low double-digit vacancy. Its probably poised to bounce back quickly when national economy rebounds. Newcomers such as Nike Factory Outlet, Trader Joes, Urban Outfitters and others are hopefully the vanguard. strongest in five years, except for 2008. Rates are fairly flat over last five years. Vacancy has dropped below 8% for first time in last five years. but with some improvement, especially in Class A. Vacancy above 10% for Class A; mid-teens for B; and high teens for C. Flat rental rates. Total leasing activity best in several years, but well shy of 2007.
50,840
$46,805
50,727
Unemployment
8.30%
Unemployment
7.40%
CONTACT
Coldwell Banker Commercial McMahan Co. 10600 Timberwood Circle Suite 7 Louisville, KY 40223 (502) 425-8800 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Legacy Real Estate Group 2435 Fitzgerald Industrial Dr., Suite 101 Bowling Green, KY 42104 (270) 781-3844 www.cbclegacy.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
n n n
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
34
Vacancy
n p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
LA - Acadiana
LA - New Orleans
DEMOGRAPHICS
CBSA Lafayette, LA
MARKET HIGHLIGHTS
Oil and gas industry continues to
DEMOGRAPHICS
CBSA New OrleansMetairie Kenner, LA 3,153
MARKET HIGHLIGHTS
GE Capital Center brings 300 direct
drive all segments of the Arcadiania market. side of the city are increasing activity both commercially and residentially. manufacturing facility in Lafayette North. This activity has spurred new growth along the I-49 corridor. or lease are statistically non-existent, which continues to foster new Land developments and new construction of Industrial buildings of all sizes. are a hot market, not only in the traditional in-fill areas, but also in older Industrial areas where an infrastructure is in place and land values reasonably priced. remains a challenge but has loosened considerably in 2012.
jobs to New Orleans in its technology center. product types due to expanding technology in the medical and biomedical employment sectors in this market.
Square Miles
1,010
Square Miles
Population
264,966
Population
1,230,886
101,487
medical facility upgrades are leading to increased demand for space in the New Orleans area. 2005 levels of supply, and demand has improved, which is leading to increased pricing. fastest growing market in America. and a positive business climate, young entrepreneurs are choosing New Orleans to open their businesses for the first time since the 1960s.
$58,413
139,997
458,428
Unemployment
6.20%
CONTACT
Coldwell Banker Commercial Pelican Real Estate 806 East Saint Mary Blvd. Lafayette, LA 70503 (337) 233-9541 www.cbcpelican.com
CONTACT
Coldwell Banker Commercial TEC Realtors 701 Loyola Ave., Suite 401, P.O. Box 50070 New Orleans, LA 70150 (504) 566-1777 www.cbctec.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q q n
Vacancy
n n n
Vacancy
p q n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q q p
Vacancy
q q n
35
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
ME - Midcoast
MD - Suburban
DEMOGRAPHICS
CBSA Rockland, ME
MARKET HIGHLIGHTS
Midcoast Maine is starting to
DEMOGRAPHICS
CBSA BaltimoreTowson, MD
MARKET HIGHLIGHTS
BRAC (Base Realignment and Closure)
Square Miles
366
Population
40,753
see substantial increase in Retail development. Walmart is breaking ground on their new Super Walmart 150,000 SF Retail center in August 2012. Tractor Supply will follow shortly thereafter with their new 20,000 SF Retail building. and attractive lifestyle, Midcoast Maine is seeing further growth in the sale of residential properties. Prices have increased 12% over the past twelve month period. Campus is closer to becoming a reality with the State of Maine now seeking ways to fund the development of the one-of-a-kind campus. for the area. The outlook for the immediate future is looking very promising despite the economic news. example, a national Retail lumber store continues to see increases in their year-over-year sales since opening approximately six years ago. The outlook for them and others in the area continues to look good. Retail trade area -114,000 residents.
continues to fuel Defense Contractor activity in the Fort Meade area. Office space include the US Navy, 67,334 SF in Annapolis and Ciena Corp, 88,405 in Hanover.
Square Miles
2,609
Population
2,697,935
$52,132
$70,020
1,099,602
Unemployment
6.90%
Unemployment
7.80%
CONTACT
Coldwell Banker Commercial SoundVest Properties 147 Park St. Rockland, ME 04841 (207) 596-7478 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Annapolis 170 Jennifer Rd., Suite 102 Annapolis, MD 21401 (410) 224-2200 www.cbcbannapolis.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q p
N/A
Vacancy
n q q
Vacancy
n p
N/A
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p n
36
Vacancy
n p p
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MA - Pioneer Valley
MI - Middle
DEMOGRAPHICS
CBSA Springfield, MA
MARKET HIGHLIGHTS
Bargains are here. This is a small city with big
DEMOGRAPHICS
CBSA Lansing-East Lansing, MI
MARKET HIGHLIGHTS
Emergent Biosolutions has been
Square Miles
1,849
Brand new casino is coming to the Longmeadow provides easy highway Longmeadow is triangulated between
Square Miles
1,707
awarded military contracts and building additions that will nearly double their current office and production facility. space of 10,000 SF and higher, while Office space less than 10,000 SF remains flat. rebounded, but has slowed over the Q2. half of 2012 by nearly 20%, making 11 consecutive months of positive growth in mid-Michigan. is below the State and National average, and the real estate market appears to be making a gradual positive turn. employment are showing signs of economic improvement, including 1. Michigan State University 2. State Government 3. General Motors 4. Hub for national insurance companies.
Population
699,962
286,180
184,334
$54,006
$54,211
244,160
165,594
Unemployment in mid-Michigan
Unemployment 7.50% Unemployment 7.70%
CONTACT
Coldwell Banker Commercial NRT - MA 136 Dwight Rd. Longmeadow, MA 01106 (413) 575-1970 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Hubbell BriarWood 830 W. Lake Lansing Rd. East Lansing, MI 48823 (517) 321-5100 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
Vacancy
p q n
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p q q
Vacancy
q p n
37
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MI - Western
MN - Mankato
DEMOGRAPHICS
CBSA Grand RapidsWyoming, MI
MARKET HIGHLIGHTS
Cabelas moved into the area. Demand for Healthcare, Professional
DEMOGRAPHICS
CBSA Mankato-North Mankato, MN
MARKET HIGHLIGHTS
Forbes recently ranked Greater
Square Miles
2,828
Care and Manufacturing contribute to vacancy rates. Food Service HQ, Cabelas and MSU Medical. month supply.
Mankato as 11th of Best Small Places for Business and Careers. as a Level 1 Trade Center, further establishing the area as a key Retail and service hub for southern MN and Northern IA. centers are in development as a result of renewed interest from national Retailers.
Square Miles
1,205
Population
93,650
$51,381
49,122
receive high quality rankings as they further expand their services in the region. be sluggish.
CONTACT
Coldwell Banker Commercial Schmidt, Realtors 2168 WEALTHY ST SE East Grand Rapids, MI 49504 (616) 459-0400 www.cbgreatlakescommercial.com
CONTACT
Coldwell Banker Commercial Fisher Group 1400 Madison Ave. Suite 616 Mankato, MN 56001 (507) 625-4715 www.cbcfishergroup.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q q p
Vacancy
q p p
Vacancy
q p p
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q q p
Vacancy
q p p
38
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MN - St. Cloud/Central
DEMOGRAPHICS
CBSA MinneapolisSt. PaulBloomington, MN-WI 6,063
MARKET HIGHLIGHTS
Piper Jaffrey & Co. renews 112,823 SF
DEMOGRAPHICS
CBSA St. Cloud, MN
MARKET HIGHLIGHTS
Construction nearing completion for
Square Miles
space in strongest markets as a result of the gap being narrowed between their expectations and those of landlords. built Office building in downtown Minneapolis. million SF addition for additional Retail space, a medical tower for Mayo Clinic and a Hotel Tower. with high ceilings show lease terms favoring landlords. 4,200 jobs between March 2011 and March 2012 statewide.
Square Miles
1,753
Population
189,957
Population
3,286,547
Multi-Family continues to be
73,818
1,267,913
strongest sector for highest transaction volume in area. Distressed and bank owned properties account for the majority of transactions. 200,000 +/- MSA. Major employment sectors include Manufacturing, Agricultural, Education and Medical.
$54,959
$71,301
91,676
Unemployment
5.60%
CONTACT
Coldwell Banker Commercial Griffin Companies 1221 Nicollet Ave. S Minneapolis, MN 55403 (612) 904-7833 www.cbcgriffin.com
CONTACT
Coldwell Banker Commercial Orion Real Estate 630 First St. South Waite Park, MN 56387 (320) 251-1177 www.cbcorion.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
Vacancy
p q q
Vacancy
n n q
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p p
Vacancy
q p p
39
Vacancy
n n q
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MO - St. Joseph
MS - Gulfport/Biloxi
DEMOGRAPHICS
CBSA St. Joseph, MO-KS
MARKET HIGHLIGHTS
St Joseph is located just 35 minutes
DEMOGRAPHICS
CBSA Gulfport-Biloxi, MS
MARKET HIGHLIGHTS
Port of Gulfport expansion begins. Margaritaville casino (a 68,000 SF
Square Miles
1,661
Population
127,090
north of the Kansas City International Airport on the Missouri River. It has access to I-29, a major north south Interstate Highway providing a corridor between Mexico and Canada and US Hwy 36, which is the major east west route thru Northern Missouri. the Life Sciences Industry with over 30 of the major companies located here.
Square Miles
1,503
$44,333
$53,669
expanding and building a 100,000 SF Office building. is complete and offering excellent Industrial building sites. A 60,000 SF shell building is planned to be built in 2012. serves civilian and military needs, is located 3 miles west of the city . It boasts two fully ILS-equipped runways and provides capacity for any size aircraft.
48,146
86,844
Unemployment
6.70%
Unemployment
8.90%
CONTACT
Coldwell Banker Commercial General Properties 2700 N. Belt Hwy. St. Joseph, MO 64506 (816) 364-2700
CONTACT
Coldwell Banker Commercial Alfonso Realty, LLC 625 Courthouse Rd. Gulfport, MS 39507 (228) 287-1200 www.cbcworldwide.com
Pacific Railway and the Burlington Northern-Santa Fe Railway to provide direct access to all parts of North America.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p q
Vacancy
n n n
Vacancy
n n q
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p p
Vacancy
q p p
40
Vacancy
q p p
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MT - Billings
NE - Lincoln
DEMOGRAPHICS
CBSA Billings, MT
MARKET HIGHLIGHTS
New 220,000 SF Scheels Sporting
DEMOGRAPHICS
CBSA Lincoln, NE
MARKET HIGHLIGHTS
Westfield Mall was purchased in a
Square Miles
4,683
demand created by jobs in Energy, Retail & Medical. planned or under construction in 2012/2013.
Square Miles
1,414
Completion of 175,000 SF
headquarters for Assurity Life near downtown Lincoln. new Industrial space.
Population
155,673
Population
299,958
63,905
$53,585
home sales include low unemployment and population growth due to the booming energy sector. driving growth in Eastern Montana. hub to the Bakken oil boom.
126,751
$55,280
tenant with Public Schools building taking 30,000 SF with 11,600 SF adjacent Retail space in the development. unemployment in the nation.
CONTACT
Coldwell Banker Commercial CBS 1215 24th St West Billings, MT 59102 (406) 656-2001 www.cbcmontana.com
CONTACT
Coldwell Banker Commercial Thompson Realty Group 620 N. 48th St., Suite 101 Lincoln, NE 68504 (402) 421-7700 www.cbcthompson.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
q p p
Vacancy
p p q
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
41
Vacancy
n p q
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NV - Reno/Sparks
NJ - Central
DEMOGRAPHICS
CBSA Reno-Sparks, NV
MARKET HIGHLIGHTS
Delucchi Lane, with 206 units, is on
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Hoffman LaRoches announcement of
Square Miles
6,606
Square Miles
6,726
Population
420,676
SF building in Downtown.
the closing of their Nutley, NJ facility and shedding of 1,000 jobs was a major blow to the area. However, small and medium size bio-tech companies are filling many voids left by larger pharmaceutical companies. pricing beginning to match demand. to public works and build to suit projects.
Population
19,124,092
$61,308
$65,253
208,488
7,711,074
with lower interest rates and sellers adjusting pricing to meet market demand. companies are forging ahead. Manhattan.
CONTACT
Coldwell Banker Commercial Clay and Associates 5011 Meadowood Circle, Suite 201 Reno, NV 89502 (775) 829-5900 www.cbcreno.com
CONTACT
Coldwell Banker Commercial Feist & Feist Realty Corp. 180 Mt. Airy Road, Suite 200 Basking Ridge, NJ 07920 (908) 696-1500 www.feistandfeist.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
n n n
Vacancy
n p q
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p n
42
Vacancy
n p q
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NJ - Morris County
NJ - Northern
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Northern NJ continues to be a
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Drug Maker Hoffman LaRoche will
Square Miles
6,726
bargain for Class A and B Office space. The vacancy rate is high and the prices are very reasonable. are some great locations available and quite a few high end markets for Retail growth. commercial buildings the land is very reasonably priced. of businesses, and most national franchises find their way into the market.
Square Miles
6,726
be leaving New Jersey closing their facility in Nutley and eliminating 1,000 jobs. Office facility in Madison.
Population
19,124,092
Population
19,124,092
7,086,346
fewer than 400 new commercial construction permits taken out in NJ in 2012 . are remaining stable.
$65,253
7,711,074
increasing but prices are remaining soft. is 9.6% as of July 2012, making it a great location for new companies to relocate to. A great number of educated, experienced and talented unemployed people are available.
CONTACT
Coldwell Banker Commercial NRT - Morris Plains 1767 Route 10 Morris Plains, NJ 07960 (973) 267-3030 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Parsippany 1 Campus Dr. Parsippany, NJ 07728 (888) 829-0221 www.cbcnrtnewjersey.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
N/A
Vacancy
p q q
Vacancy
q p q
Vacancy
p
N/A N/A
Absorption
Absorption
Absorption
p
N/A
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
N/A
Vacancy
p q q
Vacancy
q p q
43
Vacancy
q
N/A N/A
Absorption
Absorption
Absorption
n
N/A
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NM - Albuquerque
NY - Albany
DEMOGRAPHICS
CBSA Albuquerque, NM
MARKET HIGHLIGHTS
Target is currently building a new
DEMOGRAPHICS
CBSA Albany SchenectadyTroy, NY 2,817
MARKET HIGHLIGHTS
GlobalFoundries announced a $2.3 b
Square Miles
9,288
155,481 SF store in Winrock Town Center, in NE Albuquerque. Lulu Lemon and J. Crew open new stores in ABQ Uptown. Several new Apartment complexes are either under construction or planned for construction. from 13% a year ago to 12.1% in Q2 of 2012. Rancho. Senior continuing care facility on tap for Corrales. to pursue a grocery store for the Downtown Area.
Square Miles
expansion of the cleanroom at its Fab 8 semiconductor facility, located just north of Albany, NY. When completed, the semiconductor facility will represent a $6.9 b capital Investment and 1,600 new jobs. contracted with Prime Regional Center, LLC, a sister company of Coldwell Banker Commercial Prime Properties of Albany, to create and operate an EB-5 Immigrant Investor Program Regional Center that will attract foreign Investment and create jobs in Upstate. battery factory in Schenectady, NY has announced plans to double the plants capacity. That means another $70 m in local spending by the conglomerate and another 100 jobs, bringing total employment at the facility to 450 people. third trip to the Capital Region. He used the University at Albanys College of Nanoscale Science and Engineering to tout his economic agenda.
Population
859,707
333,497
358,803
$49,381
$58,611
313,234
Unemployment
7.40%
Unemployment
7.90%
CONTACT
Coldwell Banker Commercial Las Colinas 4801 Lang Ave. NE, Suite 100 Albuquerque, NM 87109 (505) 897-7227 www.lcrealty.com
CONTACT
Coldwell Banker Commercial Prime Properties 621 Columbia St. General Electric Co. plans to reorganize Cohoes, NY 12047 its energy business into three (518) 785-9000 standalone businesses in the Q4 of www.coldwellbankeralbany.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
Vacancy
q p n
Vacancy
n n q
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n q
Vacancy
q p p
44
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NY - Long Island
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Office Market: Q2 2012 vacancy rate
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Q2 vacancy rate ended at 7.1%,
Square Miles
6,726
rose to 10.1%. Rental Rates down 1.5%. Net absorption down 161,448 SF.
Square Miles
6,726
with a positive absorption rate of 1,263,000. Total positive absorption for of 625,000 SF 2012. absorption of positive 324,240 SF in the Q2, total positive absorption of 535,933 SF for first half of 2012. Class B Office market recorded a net absorption 457,672 SF in Q2 with total positive absorption of 95,369 SF for first half of 2012. Class C Office market recorded a net absorption of 481,713 SF in Q2, total positive absorption of 644,500 SF in the first half of 2012. 2012: Class A, B, C overall: Downtown:$38.42, Midtown:$55.43, Midtown South:$45.31 Viacom Inc. (renewal)-Midtown 1,606,000 SF;Morgan Stanley (renewal)-Downtown 1,152,763 SF; Citibank (renewal)-Midtown 484,040 SF. Construction Activity - Office: Downtown: 8,279,280 SF with 3,216,072 SF preleased; Midtown: 1,803,428 SF with 755,324 SF preleased; Midtown South: 400,000 SF with 36,000 SF preleased.
Population
19,124,092
rate up slightly to 5.6%. Rental Rates up 2.4%. Net absorption positive at 338,752 SF. vacancy rises to 5.5%.
Population
19,124,092
25,000 SF deal signed by Lewis Johs Avallone & Aviles in Islandia. SF lease signed by W.B. Mason in Hauppauge. signed by Fairway in Westbury.
$65,253
CONTACT
Coldwell Banker Commercial Rosner & Associates 3124 Expressway Dr. S. Islandia, NY 11749 (631) 232-4400 www.cbcli.com
CONTACT
Coldwell Banker Commercial Alliance 1140 Avenue of Americas, 7th Floor New York, NY 10036 (212) 344-0300 www.cbcalliance.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
Vacancy
p q q
Vacancy
q p p
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
N/A N/A N/A
Vacancy
p p p
Vacancy
q n p
45
Vacancy
p p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NC - Southeastern
NC - Triad Area
DEMOGRAPHICS
CBSA Wilmington, NC
MARKET HIGHLIGHTS
Whole Foods opens its first store in
DEMOGRAPHICS
CBSA WinstonSalem, NC
MARKET HIGHLIGHTS
New Multi-Family development
Square Miles
1,924
Square Miles
1,462
Biotech has boosted Triad job market. There has been an increase in misc.
for sales from clothing to building materials. to grow and expand facilities throughout the Triad. improvement since 2006.
201,455
$49,845
126,764
Unemployment
10.00%
Unemployment
9.30%
CONTACT
Coldwell Banker Commercial Sun Coast Partners, LLC 1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403 (910) 350-1200 www.cbcsuncoast.com
CONTACT
Coldwell Banker Commercial Triad, Realtors 1505 Westover Terrace Greensboro, NC 27408 (336) 761-5934 www.cbctriad.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q p p
Vacancy
p n n
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n q
Vacancy
q p p
46
Vacancy
n q n
Vacancy
n
N/A
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NC - Triangle
ND - Fargo/Moorhead
DEMOGRAPHICS
CBSA Raleigh-Cary, NC
MARKET HIGHLIGHTS
Total Triangle vacancy decreased in
DEMOGRAPHICS
CBSA Fargo, ND-MN
MARKET HIGHLIGHTS
North Dakota has become the
Q2 2012 to 14.9%.
Square Miles
2,116
occurred in Class A Office and Flex space. are Downtown Raleigh and Cameron Village. Durham and RTP.
Square Miles
2,810
United States number 2 state in oil production, bolstering the economy in Fargo and throughout the state. spurring development along I-94, southwest Fargo and West Fargo.
Population
1,143,659
Population
202,280
452,721
5%. In the Fargo/Moorhead market, approximately 1,000 units will be built in 2012. contributing factor to the Red River Valleys healthy economy.
$63,406
active in Triangle.
$53,008
105,993
Unemployment
8.00%
Unemployment
3.60%
CONTACT
Coldwell Banker Commercial TradeMark Properties 1001 Wade Ave., Suite 300 Raleigh, NC 27605 (919) 782-5552 www.cbctmp.com
CONTACT
Coldwell Banker Commercial First Realty 2731 12th Ave. S Fargo, ND 58103 (701) 237-3369 www.cbcfirstrealty.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
Vacancy
n n q
Vacancy
q p n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
47
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
OH - Lorain County
OK - Oklahoma City
DEMOGRAPHICS
CBSA ClevelandElyria-Mentor, OH 2,004
MARKET HIGHLIGHTS
Metals Fabricating Business moved
DEMOGRAPHICS
CBSA Oklahoma City, OK
MARKET HIGHLIGHTS
The energy sector is one of the
driving factors behind the unusual absorption. headquarters from Enid, OK into the CBD of Oklahoma City. They took over the home office tower of Devon Energy that contained 19 floors with 300,000 SF. Devon Energy completed their 50 story tower for their home office. taken nearly all of the 6,000 -12,000 ft buildings with any yard space. There is very little new product being brought into the market place. SF that recently opened in Aug. 2011 on the west side of OKC was the largest retail development completed in the U.S. The initial sales volume surprised the developers so they are already planning expansion.
Square Miles
5,518
Population
2,090,148
Population
1,237,539
838,741
sluggishly improving.
500,869
accommodate lower income infrastructure Jobs (i.e. Retail -vsManufacturing). excellently on shores of Lake Erie with great potential for recreation & import / export industry.
954,471
502,994
Unemployment
7.50%
Unemployment
5.00%
CONTACT
Coldwell Banker Commercial Hunter Realty 24600 Detroit Rd., Suite 245 Westlake, OH 44145 (440) 892-7040 www.cbchunter.com
CONTACT
Coldwell Banker Commercial Hocker & Associates 4323 Classen Blvd. Suite 100 Oklahoma City, OK 73118 (405) 840-4545 www.hocker.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p n q
Vacancy
p n q
Vacancy
q n p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p n q
Vacancy
n n n
48
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
OR - Portland
OR - Salem
DEMOGRAPHICS
CBSA Portland VancouverBeaverton, OR-WA 6,684
MARKET HIGHLIGHTS
Commercial vacancy in Office and
DEMOGRAPHICS
CBSA Salem, OR
MARKET HIGHLIGHTS
Commercial activity is centered
Retail increased slightly to 5.4% and 10.8%, respectively. Industrial vacancy decreased to 7.2%. a 25,436 SF Barnes & Noble and a 28,490 SF Punch Bowl Social, a new restaurant/entertainment concept. averaged 7.7% for the first half of 2012 with sales activity down over the same period in 2011 and $152 average price per SF. America signed two of the largest Office leases in the Portland market this year. lease for over 300,000 SF at the Nike Distribution Center, and Industrial sales are averaging $59/SF on 28 transactions in 2012. 2.6% keeping it below 3% for more than a year while rental rates are rising at a moderate pace.
Square Miles
Square Miles
1,925
around I-5 and major arterials with activity focused on existing and repurposed properties. units are being added with the majority of activity in West Salem.
Population
399,131
Population
2,261,246
$49,102
bank control, The Meridian was purchased by Killian Pacific with exciting plans for the future, including long-term ownership and substantial Investment upgrades. Joes and Planet Fitness signed a lease in North Salem. Buffalo Wild Wings also opened its first Valley eatery. will be relocating to Fairview Industrial Park in South Salem.
$58,563
952,611
CONTACT
Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St SE, Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com
CONTACT
Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St SE, Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q p
Vacancy
p q q
Vacancy
p q p
Vacancy
n q p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p p
Vacancy
q p p
49
Vacancy
p q q
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
PA - Pittsburgh
PA - Southeastern
DEMOGRAPHICS
CBSA Pittsburgh, PA
MARKET HIGHLIGHTS
CBD development is on the rise. Office occupancy rate is higher than
DEMOGRAPHICS
CBSA PhiladelphiaCamdenWilmington, PA-NJ-DE-MD 4,630
MARKET HIGHLIGHTS
Office vacancy rates for secondary
Square Miles
national average.
and tertiary areas are near all time high levels. areas to higher density business centers; employees want convenient access to Retail and food services. works. Commercial and Retail sectors are struggling to lure tenants.
5,280
investment property.
Population
$65,847
the commercial property market will recover very slowly and that rental rates will take many years to return to 2005 levels. for company relocation out of Philadelphia and New Jersey seeking tax relief.
1,064,896 2,533,973
Unemployment
CONTACT
Coldwell Banker Commercial NRT - Pittsburgh 9600 Perry Highway, Suite 200 Pittsburgh, PA 15237 (412) 548-1064 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial CBH 1094 Second St. Pike Richboro, PA 18954 (215) 357-2880 www.cbchearthside.com
OFFICE
Vacancy
RETAIL
N/A
Vacancy
OFFICE
N/A
Vacancy
RETAIL
p q q
Vacancy
p q p
Absorption
p p
Absorption
p n
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
N/A
Vacancy
INDUSTRIAL
N/A
Vacancy
MULTI-FAMILY
q p p
Vacancy
q p p
Absorption
p n
Absorption
p p
50
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
PA - York/Lancaster/Harrisburg
SC - Charleston
DEMOGRAPHICS
CBSA York-Hanover, PA
MARKET HIGHLIGHTS
Kingston Shopping Center sold for
DEMOGRAPHICS
CBSA CharlestonNorth Charleston, SC 2,591
MARKET HIGHLIGHTS
Cable manufacturer Nexans invests
Square Miles
904
$85 million on its first North American facility located in the Charleston Area. Pleasant.
especially Retail, coming out of the ground in central PA. sales were up 5% compared to 2011. construction on a new office on Industrial Highway in York. 70 new jobs will be created. 20 minutes to the Gettysburg battle fields, 30 minutes to the Amish farms of Lancaster and 30 minutes to Hershey Park and other attractions.
Population
665,272
262,007
$57,059
168,402
253,170
Unemployment
8.10%
Unemployment
8.50%
CONTACT
Coldwell Banker Commercial Bennett Williams 110 N. George St. 4th Floor York, PA 17401 (717) 843-5555 www.bennettwilliams.com
CONTACT
Coldwell Banker Commercial Atlantic International, Inc. 3506 W. Montague Ave. Suite 200 Charleston, SC 29418 (843) 744-9877 www.cbcatlantic.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
Vacancy
q p p
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
Vacancy
q p p
51
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
SC - Columbia
SC - Greenville/Spartanburg
DEMOGRAPHICS
CBSA Columbia, SC
MARKET HIGHLIGHTS
The largest signing in 2012 across
DEMOGRAPHICS
CBSA GreenvilleMauldin Easley, SC 2,002
MARKET HIGHLIGHTS
The global economy is increasingly
Square Miles
3,701
all asset classes is 186,000 SF Office lease for SC Department of Revenue at 300 Outlet Pointe Blvd. Office - 1 building 4,000 SF; Industrial - 0 (1 building under construction); Retail - 1 building 2,937 SF. 15% reduction in inventory YTD as compared with the same period last year. with several new merchants. Also, the University of SC is attempting to put student housing in an existing 450,000 SF Office building on Main St. in Columbia, including the University of South Carolina, and Educational Services account for 12% of Columbias employment.
Square Miles
present in the Upstate SC market. 250 companies from 27 countries are represented including: Adidas, BASF, BMW, Electrolux, Freightliner, Fujifilm, Robert Bosch and Siemens. and created an additional 300 new jobs. Total employment at the 4m SF plant is 7,500. Since BMW came to South Carolina, the plant has produced 2m vehicles; 70% for export. $750m investment in multiple facilities within the state including Upstate Anderson County.
Population
751,082
263,044
$52,689
287,817
288,021
Unemployment
9.10%
Unemployment
8.60%
facility in Greenville resulting in additional hires. The plant designs and manufactures blades used in their jet engines. include those by SEW-Euro Dr. in Spartanburg, a manufacturer of Industrial gear motors and electronics; AVX, a global manufacturer of electrical and interconnect components; Belgian company Picanol with a machine repair and replacement parts facility. attract Office users, residents to newly constructed Apartment and Condo projects and the accompanying dining and entertainment facilities.
CONTACT
Coldwell Banker Commercial United, Realtors 1711 Gervais St., Suite 300 Columbia, SC 29201 (803) 799-4663 www.cbccarolinas.com
CONTACT
Coldwell Banker Commercial Caine 117 Williams St. Greenville, SC 29601 (864) 250-2800 www.cbccaine.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q p
Vacancy
p q p
Vacancy
q p q
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
p q q
Vacancy
q p p
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
52
SC - Myrtle Beach
SD - Rapid City
DEMOGRAPHICS
CBSA Myrtle BeachConway-North Myrtle Beach, SC 1,134
MARKET HIGHLIGHTS
New to the area are Target, Marshalls
DEMOGRAPHICS
CBSA Rapid City, SD
MARKET HIGHLIGHTS
Walmart adds second store to
market. Sams Club expands. Target adds Super Store. marketplace with over 300,000 served.
Square Miles
are seeing reduced rent and trying what ever it takes to make deals. Walgreens, three Petcos, nine Dollar Generals, Dollar Tree and two McDonalds. prices and better sales are working through bank inventory. sold at a brisk pace.
Square Miles
6,247
Population
125,797
110,858
50,124
$52,281
values have been stable throughout the downturn. Black Hills located in Western South Dakota. Abundant recreation for the outdoor enthusiast with amenities such as: snow skiing, snowmobiling, boating, hiking, hunting, fishing and much more.
$43,184
Foreclosures are a great deal and get Over the summer season,
112,291
Unemployment
10.10%
CONTACT
Coldwell Banker Commercial Chicora Real Estate 10225 North Kings Hwy. Myrtle Beach, SC 29572 (843) 272-8700 www.cbcommercialchicora.com
CONTACT
Coldwell Banker Commercial Lewis Kirkeby Hall 2710 West Main St. Rapid City, SD 57702 (605) 343-2700 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p q
Vacancy
q p q
Vacancy
n n n
Vacancy
n n
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
N/A N/A N/A
Vacancy
q n q
Vacancy
q p p
53
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TN - Knoxville/East
DEMOGRAPHICS
CBSA Chattanooga, TN-GA
MARKET HIGHLIGHTS
Amazon opened two distribution
DEMOGRAPHICS
CBSA Knoxville, TN
MARKET HIGHLIGHTS
Knoxvilles recent rankings: 6th Best
centers in 2011, creating over 2,000 jobs. plant which produces the Passat. The plant will employ 3,500 by years end. million SF green production facility. They are phasing in production lines and will be at full capacity by end of year. Whirlpool employs 1,600 workers. acres for a $5.4 billion new plant to manufacture hyperpure polycrystalline silicon. This facility is scheduled to open in 2014 and will employ 650 workers. tremendous growth in the next 5 years. In addition to the new manufacturing facilities, many supporting suppliers are looking to relocate to the area. flat.
Square Miles
2,089
Square Miles
1,857
Population
526,490
Population
702,994
City for Jobs, Forbes, 2012; 8th Fastest Growing City in the U.S., CNN Money, 2012; Best City for Jobs for Spring, Manpower, 2012; #4 High Tech Hub, Business Facilities, 2011; #1 for Green Job Growth, Brookings Institute, 2011. falling or unchanged because of the improving economy. Center is being constructed in the Dowell Springs Office Park in West Knox County. building was sold for $9,500,000. The 12 story Kimberly-Clark building in downtown Knoxville was sold for $3,550,000. for restaurants with the third Cheddars being built and the TexMex restaurant Chuys, both under construction in West Knoxville. a significant increase in the single family residential market; it was up 27% from January through May of this year compared to the same time period in 2011.
211,265
$47,279
208,265
307,125
Unemployment
8.20%
Unemployment
7.00%
CONTACT
Coldwell Banker Commercial Hamilton & Associates, LLC 2650 Peerless Rd. NW Cleveland, TN 37312 (423) 476-5535 www.hamiltoncommercial.com
CONTACT
Coldwell Banker Commercial Wallace and Wallace 124 N. Winston Rd. Knoxville, TN 37919 (865) 690-1111 www.cbcww.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
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q p p
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Absorption
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Absorption
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
q p p
54
Vacancy
n n n
Vacancy
q p n
Absorption
Absorption
Absorption
Absorption
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Rental Rates
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Rental Rates
TX - Abilene
TX - Austin
DEMOGRAPHICS
CBSA Abilene, TX
MARKET HIGHLIGHTS
A new sports rehab center has been
DEMOGRAPHICS
CBSA Austin-Round Rock, TX
MARKET HIGHLIGHTS
Austin ranked first place in
Square Miles
2,745
Square Miles
4,224
Forbes list of The Best Cities for Jobs due to its strong growth in manufacturing, technology-related employment and business services. in America: precisely 14.97% of the homes in the Austin area have been built since 2005, according to an On Numbers analysis of U.S. Census Bureau data. downtown Multi-Family community, to be called Eleven. The Eleven Apartments, along with several new Mixed-Use Retail and Office buildings, restoration projects, and city Investment will contribute to the area turning the corner into a growing district. housing project near the University of Texas, a $26 million commercial high-rise student housing project, marks the largest privately funded Asian commercial real estate project to date in Austin. its Central Texas store in Round Rock in June 2012. The store grew nearly 54,000 SF to the new size of approximately 306,000 SF.
Population
160,753
This area is active in the oil and wind Abilene is the host of the 2nd largest
64,687
665,762
$43,771
60,543
622,577
Unemployment
6.30%
Unemployment
6.40%
CONTACT
Coldwell Banker Commercial Panian & Mash Realtors 2500 S. Willis Abilene, TX 79605 (325) 690-4055 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n
N/A N/A
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n
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Absorption
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Absorption
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
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q
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Absorption
Absorption
Absorption
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Rental Rates
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55
TX - Bryan/College Station
TX - Dallas/Fort Worth
DEMOGRAPHICS
CBSA College Station-Bryan, TX 2,106
MARKET HIGHLIGHTS
There is an influx of over 3,500 Class
DEMOGRAPHICS
CBSA Dallas-Fort Worth-Arlington, TX 8,990
MARKET HIGHLIGHTS
Dallas/Fort Worths DFW regional
Square Miles
Population
214,971
imploded, and site preparations are underway for the new Student Housing and Retail project. Greensprairie corridor with the addition of a Taco Bell, two Banks, and The Pool Guy Supply store.
Square Miles
population increased 52% between 2000 and 2010 to a total of 6.5m, making it the 4th largest region in the U.S. Population is expected to reach 9.8m by 2035. population and currently stands at 3.9m employees. Employment is expected to reach 6.1m by 2035. to 24 Fortune 500 Companies; 158 Companies ranked in The Inc 5000s Fastest Growing; 6th largest Economy in the US and 14th in the World. Forbes Magazine ranks it as #5 Where a Paycheck Stretches the Furthest. Time Zone and mild climate.
Population
6,521,652
2,375,452
$39,968
$63,092
60,491
2,621,455
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
CONTACT
Coldwell Banker Commercial S.A. 3010 LBJ Freeway Dallas, TX 75234 (972) 503-8600 www.coldwellbanker-sa.com
of five major interstate highways, is a rail hub for Burlington Northern/ Santa Fe and Union Pacific, and is an air hub for American and Southwest airlines with over 56m passengers through DFW airport.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n n
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n n n
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q p n
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Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
p q q
56
Vacancy
q p n
Vacancy
q p p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TX - Houston
TX - Lubbock
DEMOGRAPHICS
CBSA Houston-Sugar Land-Baytown, TX 8,928
MARKET HIGHLIGHTS
Houston ranked second place in
DEMOGRAPHICS
CBSA Lubbock, TX
MARKET HIGHLIGHTS
Lubbock Unemployment Rate at 5.7%
Forbes list of The Best Cities for Jobs, and 20th on their list of The Best Places for Business and Careers. Real Estates list of popular moving destinations this year due to available job opportunities, a reasonable cost of living, and plenty to do for singles, couples and families. in May, according to the Houston Association of Realtors: the average price for single-family homes rose 8.5% to $237,083, the highest level ever in Houston, while the sales volume reached the highest level in four years. Buffalo Bayou, consisting of 136 acres, was recently introduced onto the market, offering the possibility of significant near-downtown redevelopment. The new Dynamo Stadium and planned light-rail line are other substantial projects in the East End area. acre master-planned commercial development, has begun in northeast Houston. The development will straddle the Sam Houston Tollway and is the first ESE Energy Development in the world.
as of August 1, 2012.
Square Miles
Square Miles
1,799
Cities For Jobs. Lubbock is ranked 9th out of the 242 metropolitan areas ranked. Mid-Sized Counties In Nation based on 2012 Fourth Economy Index Listing. upward trend up 3.5% in the first half of the year and 2.6% in Q2.
Population
5,937,339
Population
279,239
2,084,052
111,087
$65,395
2,246,860
June 2012 sales are up 12% over June 2011. Fracturing Releases The Oil - Four Sevens Exploration Company LTD, leased mineral rights from the City of Lubbock for 6,261.94 acres in the area for $2.19 million.
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
CONTACT
Coldwell Banker Commercial Rick Canup, Realtors 4924 S. Loop 289 Lubbock, TX 79414 (806) 793-0888 www.cbclubbock.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
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q p p
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q p p
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Absorption
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Absorption
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Rental Rates
Rental Rates
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Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p p
Vacancy
q p p
57
Vacancy
q p p
Vacancy
q p p
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Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
Rental Rates
TX - San Antonio
DEMOGRAPHICS
CBSA Rio Grande City-Roma, TX
MARKET HIGHLIGHTS
Molina Healthcare of Texas comes to
DEMOGRAPHICS
CBSA San Antonio, TX
MARKET HIGHLIGHTS
This area is seeing considerable
Square Miles
1,223
New Sams Club and Costco open at Office occupancy rising significantly.
Square Miles
7,340
Population
63,261
Population
2,093,608
16,766
749,986
$52,389
improvements, 13+ percent year over year in existing and new home sales due to well managed new inventory. creation, lower unemployment, domestic immigration, as well as legal international immigration, primarily from Mexico. substantially, and replaced with private-sector activity, but credit remains tight.
Unemployment
12.00%
Unemployment
7.30%
CONTACT
Coldwell Banker Commercial La Mansion 508 E. Dove McAllen, TX 78504 (956) 631-1322 www.cbclamansion.com
CONTACT
Coldwell Banker Commercial Alamo City 18756 Stone Oak Pwky., Suite 202 San Antonio, TX 78258 (210) 483-6250 www.cbcAlamo.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
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q p p
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q p n
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q p n
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Absorption
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Absorption
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Rental Rates
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Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
q p n
58
Vacancy
q p p
Vacancy
n n n
Absorption
Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
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DEMOGRAPHICS
CBSA Waco, TX
MARKET HIGHLIGHTS
Baylor University approved the
DEMOGRAPHICS
CBSA Salt Lake City, UT
MARKET HIGHLIGHTS
Major Office, Retail, and Industrial
Square Miles
1,042
construction of a new football stadium to be located on I-35 and the Brazos River. and Texas State Technical College have partnered to build the BRIC - Baylor Research and Innovation Collaboration.
Square Miles
9,539
tenants are moving into the market such as Adobe, McCann-Erickson, Sun Products, Trader Joes, Scheels Sporting Goods, and Longhorn Steakhouse. down. Retail vacancy rates have stabilized as tenants move to more quality space. Industrial vacancy edged upwards 1-2%. As absorption edges up, vacancy rates will continue to slowly move down to healthier levels. delivered close to 900,000 speculative construction. In Office, speculative construction has returned after a few years. Owner user construction has been fueled by a couple of major transactions. Construction in Retail is fueled by large freestanding tenants. up as activity heats up.
Population
234,783
91,531
just outside of Waco in McGregor, TX. on their new regional headquarters in August 2012. Center were recently completed.
376,706
$44,485
$66,176
94,029
567,447
Unemployment
7.40%
Unemployment
6.00%
CONTACT
Coldwell Banker Commercial Jim Stewart, Realtors 500 N. Valley Mills Dr. Waco, TX 76710 (254) 776-0000 www.cbc-waco.com
CONTACT
Coldwell Banker Commercial NRT - Salt Lake City 6550 South Millrock Dr., Suite 200 Salt Lake City, UT 84121 Liquor laws are becoming more (801) 947-8300 business friendly attracting larger sit www.coldwellutah.com
January 2012, an improvement from the past couple of downturn years fueling an optimistic outlook for the remainder of the year.
down restaurants. Employment is projected to grow 2.5% which more than double the national average.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n q
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n n n
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q p p
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p p p
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Absorption
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Absorption
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Rental Rates
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
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n n n
59
Vacancy
p n p
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q p p
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Absorption
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Absorption
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Rental Rates
VA - Lynchburg
WA - King County
DEMOGRAPHICS
CBSA Lynchburg, VA
MARKET HIGHLIGHTS
Lynchburg continues to hold on to
DEMOGRAPHICS
CBSA Seattle Tacoma Bellevue, WA 5,894
MARKET HIGHLIGHTS
Institutional Investment sales are
Square Miles
2,124
their larger tenants due mostly in part to the steady economy in this area.
trading at extremely low CAP rates. strong. Rental rates continue to rise along with sale prices. their toes back into the water. Some speculative land purchases have taken place in the first two Quarters of 2012. to look for good deals on fully developed plats. Most of the fully developed plats have already been purchased, and developers are starting to consider buying raw land. outlook is very positive.
Population
248,585
dont seem to be rising or falling at this time. place throughout the Lynchburg area, with more emphasis on expanding or altering existing buildings.
Population
3,433,786
$46,100
96,796
continual growth in the low to mid price ranges. Higher end houses are slowly starting to move at discounted prices. a slight downward motion but many businesses are hesitant with the approaching election. attractive market to outside developers/investors mostly due in part to the various incentives the city offers to revamp the downtown market.
1,502,591
CONTACT
Coldwell Banker Commercial Read & Co. 2508 Langhorne Rd. Lynchburg, VA 24501 (434) 455-2285 www.cbcread.com
CONTACT
Coldwell Banker Commercial Danforth 33313 First Way South Federal Way, WA 98003 (253) 874-3200 www.cbcdanforth.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
n n q
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q p p
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n p p
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n p p
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Absorption
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Absorption
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Rental Rates
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
n n n
Vacancy
q p n
60
Vacancy
q p n
Vacancy
q p p
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Absorption
Absorption
Absorption
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Rental Rates
Rental Rates
Rental Rates
WA - Tacoma
DEMOGRAPHICS
CBSA Olympia, WA
MARKET HIGHLIGHTS
In Retail, WinCo Foods and Trader
DEMOGRAPHICS
CBSA SeattleTacomaBellevue, WA 5,894
MARKET HIGHLIGHTS
Office activity has been up but
Square Miles
727
Joes have experienced great success moving into the market. REI launch proved very successful, as well. The Office sector is still undergoing a correction as the State of Washington consolidates operations. as the rental market continues to improve as a result of foreclosures and short sales, which account for 31% of the residential sales in this market. as contraction in the construction markets continues.
Square Miles
Population
253,654
Population
3,433,786
somewhat stagnant with only 1 new Office building delivered in the last year in Tacoma and 4 others in suburban Pierce County, primarily medical. Net absorption is negative through the first half of 2012, but expected to finish around zero by year end, with vacancies. construction delivered only 50 units in Tacoma in 2011 with almost 600 expected by the end of 2012. Vacancies are still tight at 4.6%, down from 5% by EOY 201 so rent growth is accelerating. New projects in the pipeline will likely curb rent growth into 2013. dominated by aerospace, with the recent activity and forecast for Boeing subcontractors. However, there has been activity with smaller users between 5000-50,000 SF doing deals in small bay/incubator space. Retail has been negative for several years, leaving landlords with stiff competition and tenants salivating for great opportunities with big incentives for quality tenants willing to do long term deals. Point Ruston, a 250,000 SF Mixed-Use lifestyle center, is bringing tenants to the area.
100,414
$67,763
Unemployment
7.70%
foreclosed by creditors and are being marketed now. The Gateway project in Lacey, anchored by retailer Cabelas, is a 200+ acre Mixed-Use development that is receiving strong interest from developers. Prices on land, however, continue to soften. to pick up. After reaching a bottom in pace of sales last winter, sales picked up steam as the year went on. Around the Sound, 2011 sales were up more than 7% over 2010. continue to enjoy favor with lenders in the market.
1,502,591
CONTACT
Coldwell Banker Commercial Evergreen Olympic Realty, Inc. 3333 Capitol Blvd. S. Olympia, WA 98501 (360) 352-7651 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Offenbecher 929 East Main Suite 320 Puyallup, WA 98371 (253) 840-5574 www.offenbecher.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
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Absorption
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Absorption
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
p q q
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q p n
61
Vacancy
n n n
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q p p
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Absorption
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Absorption
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Rental Rates
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Rental Rates
WI - Janesville/Beloit
DEMOGRAPHICS
CBSA PortlandVancouverBeaverton, OR-WA 6,684
MARKET HIGHLIGHTS
The largest major tenant moving
DEMOGRAPHICS
CBSA Janesville, WI
MARKET HIGHLIGHTS
Miniature Precision Components Inc
into Vancouver is the Farwest Steel Corporation that will occupy a 350,000 SF custom built facility. improving in all sectors. Absorption is up, in part due to very little new construction being added to the existing. building is a 350,000 SF manufacturing facility. The cost of construction was $50,000,000. increasing. Developers are having their best sales success with moderately priced homes in the $150,000 range.
Square Miles
Square Miles
720
Population
160,224
of neighboring Walworth County took possession of 250,000 SF of a 700,000 SF former GM logistics building in Janesville. This occupancy is on the heels of John Deeres logistics company, Landair, which took 237,500 SF in Q1. area of WI & IL are experiencing an Industrial vacancy rate of about 12%, which rivals the greater Chicago area. Proximity to markets, easy access to I 39/90 & available logistics buildings have been a plus. on a $1.2 m innovation center which will provide a 22,000 SF flex space for startups. Kerry Americas added 30,000 SF to its 260,000 SF campus and North American corporate headquarters. for the first two Quarters of 2012 & average values up 3%. Former high profile locations that were experiencing vacancies are starting to fill up, and interest by nationals is increasing with several letters of intent pending contracts for purchase and lease.
Population
2,261,246
$54,346
$58,563
952,611
CONTACT
Coldwell Banker Commercial Jenkins & Associates 1500 D St. Vancouver, WA 98663 (360) 699-4494 www.cbcworldwidenw.com
in the Portland, Oregon metropolitan area. The cost of living is less in Vancouver, and to a certain degree, is considered a bedroom community for Portlands larger employment base.
Unemployment
9.40%
CONTACT
Coldwell Banker Commercial McGuire Mears & Associates 400 Midland Court, Suite 101 Janesville, WI 53546 (608) 752-6325 www.mcguiremears.com
income tax while it does have sales tax. Oregon is the opposite - theres a graduated state income tax but no sales tax. As a result, Portland has the major Retail presence and a much higher concentration of Office space.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p p
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
q p n
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q p p
62
Vacancy
q p n
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n n n
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Absorption
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Rental Rates
Rental Rates
Rental Rates
WY - Cheyenne Metro
2012Blue Book
DEMOGRAPHICS
CBSA Cheyenne, WY
MARKET HIGHLIGHTS
NCAR (National Center for
Square Miles
2,686
Atmospheric Research) super computer center will be operational this year. This will create high paying jobs and a new research platform. construction soon. New construction jobs and new positions will open up down stream. continuing but at a slower pace than initially expected. heating up.
International Markets
36,986
$60,634
31,977
Unemployment
6.30%
CONTACT
Coldwell Banker Commercial The Property Exchange 255 Storey Blvd. Cheyenne, WY 82009 (307) 632-6481 www.wyomingcommercialbrokers.com
OFFICE
Vacancy
RETAIL
n q q
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n q q
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Absorption
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INDUSTRIAL
Vacancy
MULTI-FAMILY
q p n
Vacancy
q p p
63
Absorption
Absorption
Rental Rates
Rental Rates
Bermuda
Canada - Belleville
DEMOGRAPHICS
CBSA Bermuda
MARKET HIGHLIGHTS
141 Front Street, a showcase
DEMOGRAPHICS
CBSA Canada Eastern Ontario 372 m2
MARKET HIGHLIGHTS
Eastern Ontario Industrial market
Square Miles
21
building in the City of Hamilton was completed in September 2010, has been a huge success with 75% occupancy. increased due to high level of new space on the market at affordable prices.
remains solid.
been absorbed.
34,110
$67,183 USD
of premier waterfront property in Hamilton, is on track with completion expected in 2013; 40% is already preleased. (government records) is incomplete, but it is expected that 2011 sales totals will be similar to 2010 with average price of property lower. purchase in this market but with longer transaction time.
48,760
Unemployment
6.00%
Unemployment
6.30%
CONTACT
Coldwell Banker Commercial Bermuda Realty 11 Par la Ville Rd. Hamilton, n/a HM HX (441) 292-1793 www.bermudacommercial.com
often look to purchase in Bermuda. It is expected that government will soon relax purchasing requirements for foreigners.
CONTACT
Coldwell Banker Commercial Ekort Realty, Brokerage 100 Bell Blvd. Suite 200 Belleville, Ontario K8P 4Y7 (613) 969-9901 www.cbcommercial.ca
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
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p q q
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n n q
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Absorption
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Absorption
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
p q q
Vacancy
n n n
Vacancy
n n p
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
64
DEMOGRAPHICS
CBSA Canada Greater Toronto Area 2,279
MARKET HIGHLIGHTS
Target leases 180,000 SF of Office in Greater Toronto Area (GTA) Office
DEMOGRAPHICS
CBSA Canada Kelowna/West Kelowna 1,142
MARKET HIGHLIGHTS
Highly desirable lifestyle region of
the Toronto Airport Corporate Centre. vacancy is 5.1% and Industrial is 3.5%.
Canada strategically located between Vancouver, Calgary and Edmonton/ Fort McMurray. have vacated the market in favor of servicing this area from their nearest large regional centre. Absorption of these vacant units is proving difficult. campus, a new bridge, new hospitals in Vernon and Kelowna, highway upgrades, and airport expansion. values over the past 5 years and there is an unbalanced inventory with excess inventory forcing prices downward. includes 8 major businesses plus a Walmart. between Greater Vancouver and Calgary.
Square Miles
Square Miles
Population
5,583,064
Office and 4.5 million SF of Industrial are under construction. of 2012, sale prices up 7.1% year over year. space , 26+ FT clear heights.
Population
187,234
1,800,000
67,000
$63,500 USD
There is strong demand for logistics Locally, Oakville has the highest net
$60,524 CND
2,919,410
100,278
Unemployment
7.20%
Unemployment
7.20%
CONTACT
Coldwell Banker Commercial Integrity Real Estate, Brokerage 1384 Cornwall Rd. Oakville, Ontario L6J 2R4 (905) 338-8877 x228 www.cbci.ca
CONTACT
Coldwell Banker Commercial Horizon Realty #14-1470 Harvey Ave. Kelowna, British Columbia V1Y 9K8 (250) 763-4343 www.bccommerciallands.com
OFFICE
Vacancy
RETAIL
OFFICE
N/A N/A N/A
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RETAIL
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p q q
Vacancy
p q q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
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INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
Vacancy
MULTI-FAMILY
n p p
Vacancy
p q q
Vacancy
q p q
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
65
Canada - Nanaimo, BC
DEMOGRAPHICS
CBSA Canada Nanaimo, BC
MARKET HIGHLIGHTS
Wholesale Sports Outdoor Outfitters
DEMOGRAPHICS
CBSA Canada Ottawa, Ontario 1,801
MARKET HIGHLIGHTS
Federal Government continues
Square Miles
494
Population
1,200,000
relocation of departments to suburbs. EDC relocation within downtown frees up 300,000 SF. Canada Council (85,000 SF) is relocating to new 150 Elgin in 2013. Smart Centers and Target invade suburban retail developments. More large U.S. retailers are expected. (6.2%) are expected to decline slightly to end 2012 with an increase to 6.5% by end 2014. Suburban vacancy (9.5%) is expected to decline to 8% by end 2014. Many factors contribute such as the lack of government programs and world investment funds. SF) and East Suburban office tower (270,000 SF) are the good news items in commercial real estate. Residential condos and large suburban retail centers are rising on regular basis. to downtown and affluent suburban neighborhoods are in demand and construction is very active. This new trend will drive the need for new retail developments.
N/A
$45,937 USD
$93,280 USD
N/A
743,100
Unemployment
4.80%
Unemployment
6.20%
CONTACT
Coldwell Banker Commercial Vancouver Island Realty Ltd 17-4890 Rutherford Rd. Nanaimo, British Columbia V9R-4Z4 (250) 756-9700 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial First Ottawa Realty, Brokerage 1419 Carling Ave., Suite 219 Recent Federal Government layoffs Ottawa, Ontario K1Z 7L6 have hindered overall growth in the (613) 728-2664 www.ottawacommercialproperties.com local economy, including business
expansion plans.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
q p n
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p p p
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MULTI-FAMILY
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66
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Colombia - Cartagena
DEMOGRAPHICS
CBSA Canada Waterloo Region 528
MARKET HIGHLIGHTS
The City of Kitchener has introduced
DEMOGRAPHICS
CBSA Colombia Cartagena
MARKET HIGHLIGHTS
The top three global risk rating firms
Square Miles
Population
543,700
plans to develop an innovation district in the downtown core, part of its overall economic development and growth management strategy. The plan would effectively convert an eight-acre property owned by the city into an urban research and business park. designed to attract creative talent, build on the cluster of high-tech companies moving into the nearby Tannery district and intensify development along the new transit corridor. a student landlord with a $58.9m purchase of 12 apartment buildings adjacent to its main campus. Eric Reiner of CBC Peter Benninger Realty facilitated the deal. (Research in Motion) emphasized that they are committed to Waterloo Region and plan to remain one of the communitys largest employers, currently employing approximately 9,000 in the region.
Square Miles
372 m2
- Standard and Poors, Moodys and Fitch - guarantee that Colombia is a safe place to invest, providing the country with a BBB investment grade. is and will be the second most appealing country for investment in Latin America over the next three years. World Bank (doing business 2011) described Colombia as the fifth country in the world and the first in Latin America in protecting Investors. World Heritage Site and is a favorite vacation and retirement destination for many thousands of Europeans and North Americans. best cities to live in Colombia and South America. buildings, major chain hotels and shopping centers are taking over Cartagena de Indias.
302,149
$74,490 CDN
$77,760,000 COL
282,300
364,285
Cartagena-Colombia is a UNESCO
Unemployment
6.40%
Unemployment
10.40%
CONTACT
CONTACT
Coldwell Banker Commercial Cartagena de Indias Bocagrande, Ave San Martin Calle 7 Local 8 Cartagena, Bolivar n/a 57 (5) 6658800 www.cbcartagenadeindias.com
Coldwell Banker Commercial Peter Benninger Realty, Brokerage 508 Riverbend Dr. Kitchener, Ontario N2K 3S2 Employment in the region is up (519) 743-5211 www.coldwellbankercommercial.ca with an increase of 14,000 jobs.
OFFICE
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RETAIL
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INDUSTRIAL
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MULTI-FAMILY
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MULTI-FAMILY
N/A N/A N/A
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p p q
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q p p
67
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Greece
Ireland
DEMOGRAPHICS
CBSA Greece
MARKET HIGHLIGHTS
Investors are in anticipation for major
DEMOGRAPHICS
CBSA Ireland
MARKET HIGHLIGHTS
State Agency NAMA plans to invest ECB cuts interest rate to 0.75%, its
Square Miles
50,949
Population
11,354,000
economic activity is shrinking and enterprises, as well as households, reduce their activities or move to smaller size spaces. first 4 months of 2012 decreased by 39.2%. downturn for the fifth consecutive year. This is the same for property prices. optimism on the market for economic stabilization and growth.
Square Miles
27,027
20,751
33,000
3,813,601
2,000,000
Unemployment
22.60%
Unemployment
14.50%
CONTACT
Coldwell Banker Commercial Hellas 8 Omirou St. & Panepistimiou Ave. Athens, Attica 10564 +30 32 28228 www.coldwellbanker.gr
Greek real estate market-especially in second/vacation home market and premium properties because prices are very low.
CONTACT
Coldwell Banker Commercial Property Consultants 23 Lower Leeson St. Dublin, Dublin Dublin 2 + 353 1 4110012 www.coldwellbankercommercial.ie
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
p q q
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INDUSTRIAL
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MULTI-FAMILY
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p q q
68
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q p n
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The Netherlands
DEMOGRAPHICS
CBSA Mexico
MARKET HIGHLIGHTS
Cinemex bought the string Lumiere
DEMOGRAPHICS
CBSA The Netherlands
MARKET HIGHLIGHTS
Nuon Energy signed a lease
Square Miles
80
as part of its expansion plan. Cinemex was acquired four years ago by GM Entertainment Company (owner of MM Cinemas) for $315 million. Restaurantes will bring to Mexico Olive Garden, Red Lobster and The Capital Grille Walmart de Mexico reported a 4.1% annual increase in sales through promotions. approximately 500,000 SF in Q2 2012 and it is expected that over the next two years, 2 million SF will be incorporated to the inventory. more than 2 million SF - a record quarter in this market.
Square Miles
41,528
agreement for more than 26,000 sq. meters in a high quality renovated building. transaction, the total volume of transactions has increased significantly (18% in the Q1).
Corproacin Mexicana de
Population 23,000,000
Population
16,800,000
N/A
36,000
The 4 large cities in the Netherlands have demanded signed agreements with tenants in case of a new development. improving significantly. The temporarily lowered transfer tax has not increased transactions on the residential market. use and transformation of office space. This is an excellent solution for the demand of more Mixed-Use areas.
8,400,000
Unemployment
4.80%
Unemployment
5.50%
that more than 10 million SF will be incorporated into the inventory in the next three years. industrial and office markets have remained stable in the first six months of 2012.
CONTACT
Coldwell Banker Commercial Mexico Montes Urales 415 1 Lomas de Chapultepec Mexico, Mexico 11000 01 52 55 41621000 www.cbcmexico.mx
CONTACT
Coldwell Banker Commercial The Netherlands A. van Leeuwenhoekweg 38 C20 Alphen aan den Rijn Holland 2408 AN (3162) 9494090 www.coldwellbanker.nl
are becoming higher and higher. Due to forced sales a large number of opportunities will come to the market. This will offer interesting opportunities for new strong focused developers/investors.
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N/A N/A N/A
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69
Turkey - Istanbul
DEMOGRAPHICS
CBSA Turkey Istanbul
MARKET HIGHLIGHTS
The economy is very strong right
DEMOGRAPHICS
CBSA United Arab Emirates
MARKET HIGHLIGHTS
Tim Hortons, a major Canadian QSR,
now.
Square Miles
2,205
Foreign investments are increasing. Real estate laws are changing in favor
Square Miles
32,278
opened its first franchise in the UAE with 127 more to come in the GCC region.
of foreign investors.
Population
12,000,000
Population
8,264,070
increase in the population by crossing the 2 million mark for the emirate of Dubai. strongest contenders for World EXPO 2020 has put a renewed confidence in the business fraternity of Dubai. surge in demands for the Residential as well as the Commercial property market. And once again, Dubai has proved to be a safer bet in the Middle East. developer of Dubai, announced their first off-plan project in Q2 of 2012. free and a duty-free haven with strong trading hub serving the GCC/AFRICA/ CIS countries has attracted all the major players to have a base in U.A.E.
2,800,000
N/A
N/A
3,570,000
4,100,000
Unemployment
9.80%
Unemployment
N/A
CONTACT
Coldwell Banker Commercial Turkey Ridvanpasa sok. 12,Goztepe, Kadikoy Istanbul, Turkey 34760 +90 216 4118030 www.coldwellbanker.com.tr
CONTACT
Coldwell Banker Commercial U.A.E. (Mega Homes Real Estate Brokerage L.L.C.) Office # 2804, Citadel Tower Business Bay Dubai, Dubai P.O. Box 73618 +971 (4) 439 1200 www.coldwellbanker-ae.com
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INDUSTRIAL
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MULTI-FAMILY
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p
N/A
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p
70
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Index by Market
Abilene, TX Acadiana, LA Albany, NY Albuquerque, NM Anchorage, AK Arcadia, CA Athens, GA Atlanta, GA Austin, TX Billings, MT Birmingham, AL Bloomington/Normal, McLean County, IL Boise, ID Brevard County, FL Bryan/College Station, TX Central, NJ Champaign/Urbana, IL Charleston, SC Charlotte/Sarasota Counties, FL Chatham County, GA Chattanooga Metro Area, TN Cheyenne Metro, WY Chicagoland, IL Coeur d Alene, ID Columbia, SC Columbus, GA Dallas/Fort Worth, TX Danbury/Upper Fairfield/New Haven, CT Daytona/Ormond Beach, Volusia County, FL Delaware County, IN Destin, FL Dothan, Houston County, AL Fairfield County, CT Fargo/Moorhead, ND Florida Keys, FL Gainesville, FL Garden City, KS Greenville/Spartanburg, SC Gulfport/Biloxi, MS Hinesville/Fort Stewart, GA Honolulu, HI Hot Springs, AR Houston, TX Indian River County, FL Inland Empire North/Victor Valley, CA Jacksonville, FL Janesville/Beloit, WI Jonesboro, AR Kansas City Metro Area, KS King County, WA Knoxville/East, TN Lake Oconee/Lake Sinclair, GA Lakeland/Winter Haven, FL Lincoln, NE Little Rock, AR Long Island, NY Lorain County, OH Los Angeles, CA Los Angeles, Westside, CA Louisville Metro, KY Lubbock, TX Lynchburg, VA Macon, Bibb County, GA Madison/St. Clair Counties, IL Mankato, MN Melbourne/Brevard County, FL Midcoast, ME Middle, MI 55 35 44 44 5 8 24 25 55 41 4 29 28 15 56 42 30 51 16 25 54 63 30 29 52 26 56 14 16 32 17 4 14 47 17 18 33 52 40 26 28 6 57 18 8 19 62 6 33 60 54 27 19 41 7 45 48 9 9 34 57 60 27 31 38 20 36 37 Minneapolis/St. Paul Metro Area, MN Modesto, CA Montgomery, AL Morris County, NJ Myrtle Beach, SC Napa Valley/Napa County, CA Naples/Ft. Myers, FL New Orleans, LA New York City, NY Northern, NJ Oklahoma City, OK Orange County, CA Orlando, FL Peoria County, IL Pioneer Valley, MA Pittsburgh, PA Polk County, FL Portland, OR Rapid City, SD Redding, CA Reno/Sparks, NV Rio Grande Valley, TX Sacramento Greater Area, CA Salem, OR Salt Lake County, UT San Antonio, TX San Gabriel/San Fernando Valley, CA Sangamon County, IL Sarasota/Manatee/Charlotte Counties, FL Sedona/Verde Valley, AZ South Puget Sound, WA Southeastern, NC Southeastern, PA Southern, FL Southern, KY Southwest Riverside County, CA St. Cloud/Central, MN St. Joseph, MO St. Lucie County, FL Suburban, MD Sussex County, DE Tacoma, WA Tallahassee, FL Tampa/St. Petersburg, FL Triad Area, NC Triangle, NC Vancouver & Southwest, WA Waco, McLennan County, TX Western, CO Western, MI York/Lancaster/Harrisburg, PA INTERNATIONAL MARKETS Bermuda Canada - Belleville - Greater Toronto Area - Kelowna/West Kelowna - Nanaimo, BC - Ottawa, Ontario - Waterloo Region Colombia - Cartagena Greece Ireland Mexico - Mexico City The Netherlands Turkey - Istanbul United Arab Emirates 63 64 64 65 65 66 66 67 67 68 68 69 69 70 39 10 5 43 53 10 20 35 45 43 48 11 21 31 37 50 21 49 53 11 42 58 12 49 59 58 12 32 22 7 61 46 50 22 34 13 39 40 23 36 15 61 23 24 46 47 62 59 13 38 51
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