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2012Blue Book

Coldwell Banker Commercial Mid Year Market Review

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About the CBC Blue Book


The CBC Blue Book offers a unique market perspective with data generated by true commercial real estate market experts the professionals of the Coldwell Banker Commercial companies within the local markets. In total, the Blue Book contains over 130 markets. The Blue Book highlights one of the strengths of the Coldwell Banker Commercial organization: our national footprint. The CBC organizations strong local market coverage combined with our global reach helps our clients obtain real-time market information in order to make informed real estate decisions.

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

AL - Dothan, Houston County

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.

construction with the first class admitting in August 2013.

Square Miles

1,718

Hotel occupancy rate remains high. Healthcare Industry drives the

Population

143,295

Dothan economy and continues to grow. in the nation.

Riverchase Galleria announced Von


Households Household Income Median Employees (Total) 451,751 Households Household Income Median Employees (Total) 57,785

Cost of Living Index is one of lowest Southeast Alabama & Northwest


$43,656

$55,642

Birmingham is seeing more casual

Florida announce mega site location. wide body aircraft.

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.

Regional Airport offers hangers for


58,833

Unemployment

Chicago-based Accretive Health


7.90%

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

Mercy Medical, a medical facility for

CONTACT
Coldwell Banker Commercial Alfred Saliba Realty 410 North Shady Lane Dothan, AL 36303 (334) 793-6600 www.alfredsalibacommercial.com

OFFICE
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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

Office vacancy is stabilizing. Targeted

Population

378,904

Anchorage Office market continues The Alaska market continues on its

Households Household Income Median Employees (Total)

147,017

Restaurant and pub nears completion Budget homebuilders in the finished

Households Household Income Median Employees (Total)

137,722

Retailers are moving to better


$72,444

$52,679

price range of $80/SF find traction. its ancillary jobs created, there is optimism in the market.

144,160

With the expansion of Hyundai and

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

The Industrial market is tight

Unemployment

8.90%

Montgomery can become the natural

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

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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

TCBY and Orange Leaf.

Square Miles

677

Foreclosures in commercial real

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.

Arkansas State University is always

Population

98,888

Two parcels of land are currently

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.

Households Household Income Median Employees (Total)

43,175

More residential units have been sold

New restaurants are moving into


Households Household Income Median Employees (Total) 39,977

$42,222

The City of Hot Springs, along

$42,931

New stores are coming into

32,750

37,743

Commercial sales and leasing activity


Unemployment 7.60% Unemployment 7.00%

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

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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

expansion of its pipe-manufacturing facility in LR Port, adding 200 jobs.

was sold and revitalized. trending downward. business corridor.

Southwest Power Pool celebrates


Square Miles

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

Commercial vacancies are steady and State is upgrading lighting in Sedona

Population

130,596

Population

690,456

Custom Aircraft Cabinets doubles

Residential units sales are strong with

a 6-year low inventory.

Households Household Income Median Employees (Total)

46,597

Households Household Income Median Employees (Total)

276,042

Sedona Hotel occupancy is up 10%

Industrial market has 5th consecutive


$56,190

$52,993

YTD for Q1 and Sedona Marathon up 20%. for Q1 of 2012.

Local developers announce Mixed-

Sedona internet inquiries are up 43%


48,137

290,765

Use Mann Building project in CBD, to include Multi-Family, Retail and Office.

Windstream Hosted Solutions opens


Unemployment 6.60%

30,000 SF state-of-the-art data center in West Little Rock.

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

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MULTI-FAMILY

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CA - Arcadia

CA - Inland Empire North/Victor Valley

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

recovery for Commercial Real Estate. investors. vacancy.

under construction. Q1 is up 26%.

Increase on BPO orders for banks &


Square Miles Square Miles

Number of Multi-Family sales Q2 vs. Increase in owner/users purchasing


Population 4,171,856

This area is experiencing high


Population 12,935,173

vacant Industrial buildings.

Limited commercial lending is

available.

Industrial tenants are relocating

Households Household Income Median Employees (Total)

4,288,080

There is a big gap between buyer &

Households Household Income Median Employees (Total)

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

Buyers are still sitting on the fence.

$52,845

Office leasing activity is improving,

5,313,010

1,156,307

Office sector landlords are typically


Unemployment 10.30% Unemployment 12.60%

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

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CA - Los Angeles

CA - Los Angeles, Westside

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

Santa Monica, CA. climbing slowly. remain strong. tenants.

Office market is tightening up, rates


Square Miles Square Miles

Owner/user investment continues to


Population 12,935,173

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.

Creative Office continues to attract

Population

12,935,173

The strongest sub-markets are

Households Household Income Median Employees (Total)

4,288,080

Households Household Income Median Employees (Total)

4,288,080

Multi-Family market is very active

$60,485

$60,485

A lot of cash is on the sidelines,


5,313,010 5,313,010

Unemployment

10.30%

Unemployment

10.30%

Developers are looking for

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

Single Family/Condo market is

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CA - Modesto

CA - Napa Valley/Napa County

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

The major industry is AG-related,


Population 512,221

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

Developer Todd Zapolski purchased

Households Household Income Median Employees (Total)

167,008

Households Household Income Median Employees (Total)

52,057

$49,395

Shopping areas that are well located

$72,042

Multi-Family Office vacancy rates in

140,743

60,343

The total Industrial market in Napa

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%

There have been major layoffs in

Unemployment

7.80%

During the first six months of 2012,

CONTACT
Coldwell Banker Commercial Vinson Chase, Realtor 220- C Standiford Ave Modesto, CA 95305 (209) 577-2121 www.cbcworldwide.com

CONTACT

Office and Retail are improving in

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

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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

of positive absorption in Q2. but starting. picking up.

resilience. looms. again.

Retail construction activity is still low


Square Miles

Square Miles

3,785

Vacancy rate is falling as shortage Housing construction is starting up

Orange County commercial activity is


Population 12,935,173 Population 181,457

Orchard Retail Center sells for $122

million or $434/SF.

Commercial foreclosures are slowing.


Households Household Income Median Employees (Total) 71,491

Households Household Income Median Employees (Total)

4,288,080

A new Apartment development with

Slow but positive absorption is seen

758 units will built by The Irvine Company in Tustin.

in the Office market.

$60,485

$45,729

Industrial market is still lagging.

Orange Countys largest private

5,313,010

companies posted their 3rd year of sales gains.

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

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CA - Sacramento Greater Area

CA - San Gabriel/San Fernando Valley

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

Office rents have stabilized.


Population 2,141,658

There has been little to no new

Population

12,935,173

construction in this area.

appetite for large distribution space. currently under construction in Glendale.

Households Household Income Median Employees (Total)

801,834

The 540,000 SF Palladio at

$61,184

Broadstone lifestyle center in suburban Folsom is still under construction and is expected to be completed 2013.

Households Household Income Median Employees (Total)

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

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CA - Southwest Riverside County

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

Western Colorado is the Retail hub for

Households Household Income Median Employees (Total)

1,350,253

The unemployment rate remain at

Households Household Income Median Employees (Total)

60,317

$52,845

Land sales are on the rise with 93

$47,409

Western Colorado is a tourist


54,564

1,156,307

Unemployment

12.60%

Unemployment

9.40%

The new construction building permits

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-

of-the-art learning facilities on 78-acres in the heart of Grand Junction.

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CT - Danbury/Upper Fairfield/New Haven

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.

Area vacancy rates are down due


Households Household Income Median Employees (Total) 336,733

$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

Significant movements: Western CT


419,437

419,437

New construction includes: $33.8m

Unemployment

7.80%

Unemployment

7.80%

CONTACT

Due in part to lower mortgage rates,

CONTACT
Coldwell Banker Commercial NRT - CT 77 Old Ridgefield Rd. Wilton, CT 6897 (203) 831-4187 www.cbcworldwide.com

The 150,000 SF Lockworks building

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

The average quoted asking rate is

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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

The vacancy rate in eastern Sussex

Population

536,805

Foreign Trade Zone 136 has a superior

Households Household Income Median Employees (Total)

78,981

Households Household Income Median Employees (Total)

225,977

Embraer Aircraft is expanding its


$56,299

$52,386

Residential construction remains


68,986

181,926

BlueWare, Inc., a healthcare IT

Unemployment

8.70%

For the first half of 2012, the Sussex

Unemployment

9.40%

Rocket Crafters move to the Space

CONTACT
Coldwell Banker Commercial Resort Realty 20184 Coastal Highway Rehoboth, DE 19971 (302) 227-5000 www.cbankercommercial.com

Sussex County continues to be a

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.

Sussex County is one of the largest

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

FL - Daytona/Ormond Beach, Volusia County

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

is the Cocoplum Village Shops. economy and lost jobs.

Vacancy is falling due to the


Square Miles

There has been some Retail and a


Population 689,676

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.

3 large ocean front raw land


Population 495,625

Households Household Income Median Employees (Total)

311,173

The Residential market is currently


Households Household Income Median Employees (Total) 214,567

The market has not changed in


$58,236

general.

11 start up companies are


$47,500

230,801

146,482

Embry Riddle University is selected as

Unemployment

8.80%

Unemployment

9.10%

Boardings continue to rise at Daytona

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

800 ft Volusia County - city of

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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

income producing assets.

from internet competition.

There is a strong speculative interest

in land as inventory diminishes.

Square Miles

997

Grocery and Pharmacy are doing well

Square Miles

Condo absorption is at a four

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

Valero/Dunkin Donuts has built a new

REO assets are working through the


Households Household Income Median Employees (Total) Employees (Total) 67,600 Unemployment Unemployment 6.10% 4.40% 32,553 Households Household Income Median 72,513 $71,455

Inventory levels are declining at

$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

Hospitality and tourism are

Barriers to entry are significant

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

FL - Indian River County

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

local CBC office are leasing.

Square Miles

1,223

Of those properties being leased, 71

percent were Office and 15 percent Retail. absorption and a 3,600 SF positive lease absorption.

Square Miles

gradually improving.

503

Development interest is returning. New construction in residential single

Population

261,674

18,000 SF positive Office lease

Population

135,534

family is up in 2012.

Households Household Income Median Employees (Total)

113,545

Average Office lease rate is $13.33/SF

Owner users are the primary buyers


Households Household Income Median Employees (Total) 59,807

for Office and Retail. Indian River County.

gross and average Retail lease rate is $15.72/SF NNN. market 426 days and average Retail listing is on the market 585 days.

New corporate interest in moving to


$62,271

$45,060

Average Office listing is on the

87,322

Even though time on market is high,

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

Publix expands County Line RD Little or no vacancy of high-quality

Global Income Trust Inc., an OrlandoHouseholds Household Income Median Employees (Total) 518,910

Households Household Income Median Employees (Total)

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

The Villas at St. Johns, a Riverside


551,254

$40,730

Florida Polytechnic launched as

245,900

Sykes leases 90,000 SF of Office space


Unemployment 10.00%

Unemployment

8.50%

for expanded call center operation and will hire over 300 employees. drive demand for Apartments; Vacancy is at all time low.

With the Olympics in full swing,

Foreclosure activity continues to

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

housing project next to the University of Virginia in Charlottesville, VA.

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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.

constructs 180,000 SF.

Commercial leasing is recovering.


Square Miles

Myers because prices are at historic lows. to 7.6%. 15.1%.

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

Numerous large hire companies are Residential market is recovering. New

Population

320,101

Households Household Income Median Employees (Total)

225,977

construction taking place in Viera. Inventory is down.

Households Household Income Median Employees (Total)

132,487

are many bargains at this time.

$56,299

National tenants are seeking sites. Private space sector is replacing

$76,515

181,926

NASA and hiring NASA Engineers.

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

75,000 SF of Office space was leased

by Florida Institute of Technology. of Retail space were completed in Orlando.

Rental rates for Retail in Polk County


Square Miles

10 buildings totaling 137,403 SF


Population 2,093,845

were down slightly from the Q4 of 2011.

Population

606,019

John Deere Landscaping leased

Class-B Office space net absorption


Households Household Income Median Employees (Total) 799,047

8,190 SF on 2700 Combee Rd. in Polk County. Polk County remained virtually unchanged. Slight increases in absorption were noted.

+322,116 SF; Class-C: + 32,006 SF.

Households Household Income Median Employees (Total)

228,998

Office vacancy and rental rates in

Amcor Rigid Plastics USA is moving


$53,425

into 500,000 SF of Industrial Space. of positive 91,666 SF.

Flex building recorded net absorption


956,766

$40,730

One of the largest transactions

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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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

Dentsply purchased 750,000 SF Industrial.

West, and is planning a new store in Islamorada.

Square Miles

997

Vacancies are falling due to

New home sales have picked up.


Population 689,676

expansions and new business moving to the Keys. Marathon with a new store.

Multi-Family properties are in high

Population

73,047

demand.

Dunkin Donuts is expanding into Residential inventories are going

Households Household Income Median Employees (Total)

311,173

Unemployment dropped from 12% to

8% percent overall.

Households Household Income Median Employees (Total)

32,553

International tourism was a big factor


$58,236

down over 10% per year for the past 2 years. occupancy in the state. Tourism is driving the recovery.

in this years season.

$71,455

The Keys enjoy the highest ADR and

230,801

29,685

Barriers to entry are very high given

land use and environmental issues.

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 - St. Lucie County

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!

2013. Academy Sports opened in 2012.

Square Miles

1,128

Residential market has improved

Square Miles

2,387

Office vacancy is rising and stands at

Population

407,361

There have been more land sales this

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.

VA Hospital is planned to open in


Households Household Income Median Employees (Total) 154,494

Households Household Income Median Employees (Total)

169,340

$53,266

$47,364

Residential transaction volume is up

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 is down to 7.2% vs

Unemployment

10.90%

Unemployment

7.20%

Gaines Street Retail Re-development

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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Vacancy

q p q

Vacancy

q p p

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

23

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.

100,000 SF on Telcom Dr.

Tampa/St. Petersburg Office vacancy


Square Miles

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.

ended unchanged in Q2 of 2012. positive in Tampa/St. Petersburg. 162,196 SF were completed.

Square Miles

1,031

The plant will be located on an

Retail net absorption was slightly


Population 2,757,566 Population 193,495

During Q2, two buildings totaling


Households Household Income Median Employees (Total) 77,486

Households Household Income Median Employees (Total)

1,166,605

Wages will be at or above the median

$49,596

$40,278

In addition to the 1,400 factory jobs

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

On the whole, Retail absorption

Population

347,453

Mitsubishi Power Systems Americas

Households Household Income Median Employees (Total)

2,028,400

At mid-year 2012, the recovery of

Households Household Income Median Employees (Total)

130,609

$60,590

$55,567

2,223,339

Since the end of 2009, the overall retail

129,296

New construction includes a Nordic

Unemployment

9.30%

Unemployment

9.10%

Groundbreaking for West Chatham

One West Victory, $20 million Mixed-

CONTACT
Coldwell Banker Commercial Metro Brokers 3575 Piedmont Rd. N.E. Building 15, Suite 950 Atlanta, GA 30305 (404) 495-8915 www.cbcmetrobrokers.com

While housing starts are only

CONTACT
Coldwell Banker Commercial Platinum Partners 6349 Abercorn St. Savannah, GA 31405 (912) 352-1222 www.cbcplatinum.com

Construction of 700+ unit Multi-

Family project is taking place with more planned.

On the whole, Atlantas office market

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25

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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.

the 3rd fastest growing MSA in the US 2010/2011.

Square Miles

920

The Hinesville/Fort Stewart MSA was

Construction has started on a new


Population 293,977

the 4th fastest growing MSA for Job growth 2010/2011. installation east of the Mississippi River. economic impact on the region.

Population

73,844

Fort Stewart is the largest military

Households Household Income Median Employees (Total)

117,712

Columbus is opening a branch of the

Households Household Income Median Employees (Total)

26,115

Fort Stewart has a $7.13 billion

$49,432

$48,667

Liberty County is centrally located

between 4 deep water ports, 2 within 45 minutes. disciplined, motivated and trained military retiree work force.

93,485

Overall housing market in Columbus,

12,145

Liberty county has a highly

Unemployment

9.80%

Unemployment

9.60%

Columbus market has enjoyed stability,

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.

OFFICE
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q p q

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p q n
26

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Rental Rates

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Rental Rates

GA - Lake Oconee/Lake Sinclair

GA - Macon, Bibb County

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.

Global Parts Distributors, one of the

Population

21,218

Also included was the Ritz-Carlton

Population

232,119

Households Household Income Median Employees (Total)

8,601

Households Household Income Median Employees (Total)

89,721

Vacancy is falling because of high

$50,485

Baxter International Inc., a global

$47,145

NW Technologies is constructing a
83,398

5,263

Unemployment

9.40%

The number of units sold has

Unemployment

10.10%

The residential market is keeping

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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Vacancy

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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

Hawaiis construction is a replay of

Population

610,611

Households Household Income Median Employees (Total)

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%.

Meridian Town Center, a 500,000 SF,

Households Household Income Median Employees (Total)

224,823

$67,192

In 2012, the unemployment rate Larry Ellison, CEO of Oracle,

$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.

The number of new home sales is


232,386

Unemployment

6.40%

Unemployment

The Boise area has seen marked


7.30%

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

Idahos unemployment rate dropped

OFFICE
Vacancy

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OFFICE

RETAIL

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

p q q

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n n n
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q p n

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Absorption

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Absorption

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Rental Rates

ID - Coeur d Alene

IL - Bloomington/Normal, McLean County

DEMOGRAPHICS
CBSA Coeur dAlene, ID

MARKET HIGHLIGHTS
WinCo anchored Shopping Center

DEMOGRAPHICS
CBSA BloomingtonNormal, IL

MARKET HIGHLIGHTS
State Farm Insurance continues

planned for construction in 2013. Family projects is helping with absorption.

employment growth.

Square Miles

1,245

Lack of new construction for Multi-

Square Miles

1,184

Uptown Normal is busy with a

Transportation Center and other projects in the works. is active.

Population

140,628

There has been a fair amount of Rental rates continue to stay

Owner Occupied new construction. stagnant, but Landlord concessions are starting to drop. with Owner Occupied opportunities.

Population

168,918

ISU campus apartment development Healthcare expansions are planned

Households Household Income Median Employees (Total)

53,154

Households Household Income Median Employees (Total)

70,687

for Advocate BroMenn and OSF. best in the state.

$50,618

Continues to be a buyers market ripe

Local jobless rate stays consistently


$59,825

The local housing market is up 25%.


69,980

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

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

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q p p
29

Vacancy

n n n

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Absorption

Absorption

Absorption

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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

for expansion of their Emergency Room department.

Square Miles

1,923

Parkland College has completed

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%.

Easton-Bell Sports has announced


Households Household Income Median Employees (Total) 97,325 Households Household Income Median Employees (Total) 3,484,370

The vacancy rate in Industrial and Office

The Retail segment bounced back


$47,851

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

The student housing market remains


80,156

There was 453,000 SF of new Industrial

4,186,171

Unemployment

9.10%

The University of Illinois is continuing

work on their new Ikenberry Commons residence halls and has begun work on a new building on the Engineering Campus.

Unemployment

9.30%

The residential market has shown

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

The Industrial market has been very

OFFICE
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INDUSTRIAL
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MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

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Vacancy

q p p

Vacancy

q p p

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Rental Rates

Rental Rates

IL - Madison/St. Clair Counties

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

Southern Illinois University

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.

Vacancy in this region is fairly static.


Population 377,630

Population

2,858,935

New student housing project is fully


Households Household Income Median Employees (Total) 1,125,496 Households Household Income Median Employees (Total) 153,377

New commercial construction

This market is home to Scott Air


$57,785

$60,133

The Residential market has

Three Hospital projects are under

consideration.

1,261,660

A major sands oil refining project was

157,932

Commercial market is definitely

just completed by Conoco Phillips.

Unemployment

9.00%

Unemployment

7.90%

Unemployment in the Tri County

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

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OFFICE

RETAIL

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Rental Rates

Rental Rates

Rental Rates

INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

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Vacancy

n n n
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Vacancy

q p q

Vacancy

q p n

Absorption

Absorption

Absorption

Absorption

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Rental Rates

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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

influence in this market. employment base.

new jobs.

Square Miles

868

Capitol of Illinois adds to strong There is a strong agricultural

Square Miles

393

Jarden Home Brands and IBM

Population

196,269

influence in this area. the past 7 months.

extend leases and IBM is expanding at Heartland Business Center in Daleville. on 72 acre site.

Population

115,425

Residential market has been up for


Households Household Income Median Employees (Total) 82,636

A new Auto Mall is being developed Three new student housing projects

There is lower than average

Households Household Income Median Employees (Total)

48,625

unemployment in this area. with Lincoln sites.

totaling 350 units to be completed in 2012-2013. 12.3% and average price up 8.9%. SF and 50 jobs.

$56,722

Springfield has a strong tourism draw

$40,907

Residential Market - unit sale up

83,238

42,446

Magna Power Trac is adding 50,000 Delaware Advancement Corporation

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.

New 50,000 SF light Industrial

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

Spartech Packaging Technologies

making a $19 million capital investment and adding 32 jobs.

OFFICE
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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

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Vacancy

q p p
32

Vacancy

q p q

Vacancy

n n n

Absorption

Absorption

Absorption

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Rental Rates

Rental Rates

Rental Rates

KS - Garden City

KS - Kansas City Metro Area

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.

in the Metro and 5.8% in Kansas. under construction.

Square Miles

1,302

Vacancy is falling because this area is

center for Oil & Gas + a major Retail Center.

Square Miles

7,857

The new Ford Claycomo plant is Retail sales in the Metro area are

Population

42,609

New construction is starting again. This residential market is stable and

Population

2,076,653

up. New Retail and entertainment construction is underway.

strong. Center.

Home sales in the metro area are up.


Households Household Income Median Employees (Total) 819,900

Households Household Income Median Employees (Total)

13,697

This area is growing as a Major Retail This is an Aggressive Market Area.

Surveys show that business executive

confidence is up.

$43,008

$60,301

The continued good farm economy is

having a positive effect on the Metro area.

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

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Vacancy

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Rental Rates

Rental Rates

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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

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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

Fruit of the Loom continues to grow

Population

1,263,217

Investor interest in Louisville Multi-Family

Population

121,646

Corvette Plant announces 60th

Households Household Income Median Employees (Total)

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.

Households Household Income Median Employees (Total)

50,840

Warren County has been ranked as

$46,805

Newsweek Ranks WKUs Gatton

Retail in Louisville is flat as in much of


549,941

Academy as #1 High School in the Country. County Industrial Park.

50,727

Taggart Solar to locate in Edmonson

Unemployment

8.30%

Unemployment

7.40%

Industrial Louisville leasing activity is

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

Louisville Office remains a weak sector,

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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

New Medical facilities on the south

Square Miles

Vacancy rates are falling across most

Population

264,966

Halliburton recently opened a new

Population

1,230,886

Substantial transportation and


Households Household Income Median Employees (Total) 469,474

Households Household Income Median Employees (Total)

101,487

Industrial buildings available for sale


$54,248

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

Residential inventory is nearing

139,997

Existing building renovations

458,428

Forbes named New Orleans the


Unemployment 8.70%

Unemployment

6.20%

Due to tax incentives, quality of life

Funding for speculative projects

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

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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

Tenants moving into large blocks of

Population

2,697,935

Due to continued national exposure


Households Household Income Median Employees (Total) 23,744

A flat economy and flat job growth


Households Household Income Median Employees (Total) 1,053,696

has caused Office absorption and rental rates to decline.

$52,132

$70,020

Many Flags Regional School/College


15,971

1,099,602

Unemployment

6.90%

Tourism traffic is ahead of 2011

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

Retail sales continue to be up. One

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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

opportunities. area soon! access.

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.

There is growing demand for Office


Population 453,378

Population

699,962

Households Household Income Median Employees (Total)

286,180

NYC, Hartford, Boston and Albany.

Households Household Income Median Employees (Total)

184,334

Residential construction had a Q1

$54,006

$54,211

Residential sales are up for the first

244,160

165,594

Unemployment in mid-Michigan
Unemployment 7.50% Unemployment 7.70%

All 4 sectors of mid-Michigan

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

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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

Greater Mankato is now designated

New construction includes Gordon


Population 779,129

Population

93,650

For residential, there is less than 6


Households Household Income Median Employees (Total) 293,209 Households Household Income Median Employees (Total) 39,391

Several new neighborhood strip

Both demand and lack of inventory


$55,111

are changes in this market.

$51,381

University Growth, Healthcare and


358,125

Area Medical facilities continue to

branding of a city are all important features of the area.

49,122

receive high quality rankings as they further expand their services in the region. be sluggish.

Development land sales continue to


Unemployment 7.30% Unemployment 5.10%

Mankato is located just over an hour

south of the Twin Cities Metro Area.

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

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MN - Minneapolis/St. Paul Metro Area

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

lease for 11 years.

Walmart Super Center.

Expanding retailers commit to prime

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

Unemployment rate remains at 5.6%. Five new Multi-Family buildings are

currently under construction.

Population

189,957

Population

3,286,547

Xcel commits to 212,000 SF Opus

Multi-Family continues to be

Households Household Income Median Employees (Total)

73,818

Households Household Income Median Employees (Total)

1,267,913

Mall of America announces 200

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

Central MN market consists of

Well located Industrial properties


1,695,892

91,676

The manufacturing sector added


Unemployment 5.80%

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

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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

property) opens, bringing over 1,000 jobs to the community.

Subdivision buyers return.


Population 240,010

New Hotels begin construction.

This market is located in the heart of


Households Household Income Median Employees (Total) 51,821 Households Household Income Median Employees (Total) 94,854

$44,333

Boehringer Ingelheim Vetmedica is

$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

The new Easttown Business Park

86,844

Unemployment

6.70%

Unemployment

8.90%

Rosecrans Memorial Airport, which

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

St Joseph is served by the Union

Pacific Railway and the Burlington Northern-Santa Fe Railway to provide direct access to all parts of North America.

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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

Goods store under construction.

group of malls by Starwood.

Square Miles

4,683

Vacancy is falling due to the strong

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

Over 1,000 Multi-Family units

Population

299,958

$13.7 million in permits provided for Whole Foods planned as anchor

Households Household Income Median Employees (Total)

63,905

Contributing factors to increased

$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.

Households Household Income Median Employees (Total)

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.

Energy and agricultural industries are


69,806 142,514

Lincoln boasts second lowest

Billings is the nearest commercial


Unemployment 4.90% Unemployment 3.70%

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

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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

the market for $9.8 million. over the decade.

Square Miles

6,606

Apple will invest $1 billion in Reno Renown Health purchased a 39,000

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

Apple is building a 320 acre


Households Household Income Median Employees (Total) 164,527

Vacancy is leveling off, with realistic Most new construction is limited

datacenter 15 miles east of Reno.


Households Household Income Median Employees (Total) 7,086,346

A 99 Cent Store opened in July 2012. Average Multi-Family price is

$61,308

$30,000-35,000 per unit.

$65,253

The Residential market is picking up

208,488

7,711,074

with lower interest rates and sellers adjusting pricing to meet market demand. companies are forging ahead. Manhattan.

Trimmed down small and medium


Unemployment 11.70% Unemployment 9.60%

It is the most affordable suburb of

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

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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.

The Retail space is hot in NJ. There

Square Miles

6,726

be leaving New Jersey closing their facility in Nutley and eliminating 1,000 jobs. Office facility in Madison.

Realogy is relocating to a 250,000 SF There is little new construction with

Population

19,124,092

Population

19,124,092

If you are interested in building new


Households Household Income Median Employees (Total) 7,086,346

Households Household Income Median Employees (Total)

7,086,346

fewer than 400 new commercial construction permits taken out in NJ in 2012 . are remaining stable.

$65,253

North Jersey is a great melting pot

Vacancy rates in most asset classes


$65,253

Residential real estate sales are


7,711,074

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.

New Jerseys unemployment rate


Unemployment 9.60% Unemployment 9.60%

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

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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

Multi-Family continues to excel.


Population 863,887

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

NYs Center for Economic Growth has

Households Household Income Median Employees (Total)

333,497

Vacancy rates for Retail have declined

Households Household Income Median Employees (Total)

358,803

$49,381

Two new hospitals open in Rio

$58,611

General Electric Co.s new $100 m


351,131

313,234

City of Albuquerque continues

Unemployment

7.40%

More Retail space was occupied

Unemployment

7.90%

during the first half of 2012 than in the past 3 years.

President Barack Obama made his

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

2012, with GE Power and Water to be headquartered in Schenectady, NY.

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NY - Long Island

NY - New York City

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.

Industrial Market: Q2 2012 vacancy

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%.

Class A Office market recorded a net

Population

19,124,092

Retail: Nassau and Suffolk Countys


Households Household Income Median Employees (Total) 7,086,346 Households Household Income Median Employees (Total) 7,086,346

Largest 2nd Quarter Office Lease:


$65,253

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

Largest Q2 Industrial Lease: 43,000


7,711,074 7,711,074

Office Rental Rates Mid-Year

Largest Q2 Retail lease: 68,000 SF


Unemployment 9.60% Unemployment 9.60%

Largest Office lease signings 2012:

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

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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

New Hanover County.

projects are underway.

Square Miles

1,924

Several new Apartment complexes

are under construction. construction.

Square Miles

1,462

Biotech has boosted Triad job market. There has been an increase in misc.

Two new Office buildings are under


Population 357,853 Population 487,010

manufacturing jobs in Triad.

There is a shortage of finished


Households Household Income Median Employees (Total) 151,270

Triad is seeing little momentum

residential lots in New Hanover County. to grow.

for sales from clothing to building materials. to grow and expand facilities throughout the Triad. improvement since 2006.

Households Household Income Median Employees (Total)

201,455

Medical practice mergers continue


$50,107

Healthcare industry continues

$49,845

Time Warner building sells to Medical

Practice for $5 Million.

Triad home sales are up 2%, the best


185,107

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

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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

Most of the vacancy decreases

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.

Costco broke ground on a new store

Population

1,143,659

Strongest performing submarkets

Population

202,280

Apartment vacancy level is just below


Households Household Income Median Employees (Total) 86,119

Households Household Income Median Employees (Total)

452,721

Highest vacancy submarkets are N 1.9 million SF of sublease space is

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

Healthy agriculture remains a major

Many properties are trading as


441,442

Raleigh/Durham remains high on investors radar.

105,993

The unemployment rate in Fargo/

Moorhead remains consistently low, currently sitting at approximately 3.6%.

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

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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

into Lorain County.

Local economy jobs & manufacturing


Square Miles

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.

moved out due to downsizing, politics and overseas. in Lorain County.

Square Miles

5,518

Continental Resources moved their

Population

2,090,148

New construction is slowly picking up Residential market in Lorain County is

Population

1,237,539

Households Household Income Median Employees (Total)

838,741

sluggishly improving.

Households Household Income Median Employees (Total)

500,869

Home values declined to


$54,591

accommodate lower income infrastructure Jobs (i.e. Retail -vsManufacturing). excellently on shores of Lake Erie with great potential for recreation & import / export industry.

The energy service businesses have


$57,129

954,471

Lorain county is positioned very

502,994

The Outlet Mall containing 370,000

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

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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

The largest Retail signings include

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.

Approximately 300 - 400 Multi-Family

Population

399,131

Population

2,261,246

In the Office sector, cap rates


Households Household Income Median Employees (Total) 878,239

Formerly the largest project under


Households Household Income Median Employees (Total) 148,354

$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

Clear Channel and Daimler Truck

Petco recently opened next to Trader


119,269

952,611

Pacific Foods signed an Industrial


Unemployment 8.00%

The Department of Fish & Wildlife


Unemployment 9.10%

PacTrust is pushing dirt on its first

CONTACT
Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St SE, Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com

Multi-Family vacancy fell slightly to

CONTACT
Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St SE, Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com

medical building along Kuebler Blvd. at Battlecreek.

OFFICE
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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

There is an increase in sales of

Office vacancy is on rise in remote


Square Miles

investment property.

Population

2,355,582 Population 5,979,545

Multiple new construction sites in the

Households Household Income Median Employees (Total)

991,049 Households $52,255 Household Income Median Employees (Total) 2,318,224

Sellers are coming to realization that

$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

Bucks County is still a haven

Unemployment

7.30% Unemployment 7.50%

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

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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

$7.6 million at an 8% cap rate. is planned in York Township.

Square Miles

904

A 99-room Hampton Inn and Suites


Square Miles

$85 million on its first North American facility located in the Charleston Area. Pleasant.

There are signs of new projects,


Population 430,707

40,000 SF Hobby Lobby moves to Mt. Vacancy is falling due to greater

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

For the first 5 months, residential


Households Household Income Median Employees (Total) 169,750

demand for Charleston MSA. 1,000 units.

Households Household Income Median Employees (Total)

262,007

Multi-Family market has increased by

IRS & Social Security began


$55,365

$57,059

168,402

Central PA is very tourist oriented:

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
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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.

New Construction deliveries in 2012:

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.

BMW made another $900m investment


Population 644,419

Population

751,082

The residential market has seen a


Households Household Income Median Employees (Total) 300,796

Households Household Income Median Employees (Total)

263,044

Greenville based Michelin announced a


$49,487

$52,689

The Main St. corridor is heating up

287,817

288,021

GE Aviation has expanded their R&D

Unemployment

9.10%

There are 12 Colleges or Universities

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.

Additional recent announcements

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

Downtown Greenville continues to

OFFICE
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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

and three Petcos.

Vacancy is finally falling. Landlords

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

Healthcare and Retail Industry drives

New Retail in the area include:


Population 266,384

Population

125,797

New construction is up 10% YOY. Residential sales are up 10% YOY.

Households Household Income Median Employees (Total)

110,858

For the residential market, lower

Households Household Income Median Employees (Total)

50,124

Healthcare and Retail real estate

$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,

Rapid City is the gateway to the


51,878

112,291

accommodation and Retail sales tax reports revenue was up 7 to 8 % YTD.


Unemployment 4.20%

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
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TN - Chattanooga Metro Area

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

Volkswagen opened a new assembly

Square Miles

1,857

Population

526,490

Whirlpool has opened a new 1.4

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.

In most sectors, the vacancy rate is


Households Household Income Median Employees (Total) 297,456

Households Household Income Median Employees (Total)

211,265

A $150,000,000 Proton Therapy


$48,362

$47,279

Wacker Chemie purchased 350

208,265

307,125

Academy Sports and Outdoor

Unemployment

8.20%

This market is positioned for

Unemployment

7.00%

Knoxville continues to be a haven

CONTACT
Coldwell Banker Commercial Hamilton & Associates, LLC 2650 Peerless Rd. NW Cleveland, TN 37312 (423) 476-5535 www.hamiltoncommercial.com

Commercial activity is still somewhat

CONTACT
Coldwell Banker Commercial Wallace and Wallace 124 N. Winston Rd. Knoxville, TN 37919 (865) 690-1111 www.cbcww.com

The first five months of this year saw

OFFICE
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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

built in the area.

Square Miles

2,745

Most new construction is built to suit. Residential market is very active.

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.

Average sale price is increasing. industries.

Austin has the newest housing stock


Population 1,730,983

Population

160,753

This area is active in the oil and wind Abilene is the host of the 2nd largest

Households Household Income Median Employees (Total)

64,687

wind farm in the world.

Households Household Income Median Employees (Total)

665,762

Development is soon to begin on a


$57,641

$43,771

60,543

622,577

Unemployment

6.30%

Unemployment

6.40%

The groundbreaking of a Multi-Family

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

IKEA completed the expansion of

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q p p

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

q
N/A N/A

Vacancy

q
N/A N/A

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q p q

Vacancy

q q q

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

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

A beds coming on line within the 2013 year.

Square Miles

The former Plaza Hotel has been

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

Employment growth has tracked

Retail is stable along the


Households Household Income Median Employees (Total) 88,655

Households Household Income Median Employees (Total)

2,375,452

DFW by the numbers: headquarters

$39,968

$63,092

60,491

2,621,455

Dallas has the advantage of a Central


Unemployment 6.80% Unemployment 7.40%

Texas does not have a State Income

Tax and is a right-to-work state.

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

Dallas is located at the intersection

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

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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

Houston ranked third on Yahoo

Square Miles

1,799

Lubbock ranks on Forbes list of Best

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

Lubbock County named in Top 10

Households Household Income Median Employees (Total)

2,084,052

Residential sales prices broke records

Households Household Income Median Employees (Total)

111,087

Lubbock Economic Index continues


$41,203

$65,395

Lubbock housing market is strong


101,281

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.

A major East End property along


Unemployment 7.50%

Squeezing The Shale: Hydraulic


Unemployment 6.50%

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

Phase 1 of Generation Park, a 3,635

OFFICE
Vacancy

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OFFICE

RETAIL

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Absorption

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Rental Rates

Rental Rates

Rental Rates

INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

q p p

Vacancy

q p p
57

Vacancy

q p p

Vacancy

q p p

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

TX - Rio Grande Valley

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

Edinburg, TX. same time.

Square Miles

1,223

New Sams Club and Costco open at Office occupancy rising significantly.

activity from Financial Service Centers.

Square Miles

7,340

There is net absorption across all

product lines due to limited new construction.

Population

63,261

Land prices are rising significantly. Low inventory of climate controlled

Population

2,093,608

There is limited construction in the

Households Household Income Median Employees (Total)

16,766

Warehouse space. area rapidly.

area and most is primarily Owner/ User.

Households Household Income Median Employees (Total)

749,986

New brand names are coming to the


$23,550

The residential market has substantial

$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.

Changes in the market include: job


8,935 730,244

Unemployment

12.00%

Unemployment

7.30%

Federal spending has been reduced

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

Vacancy

q p p

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q p n

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q p n

Absorption

Absorption

Absorption

Absorption

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Rental Rates

Rental Rates

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

Rental Rates

Rental Rates

Rental Rates

Rental Rates

TX - Waco, McLennan County

UT - Salt Lake County

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.

Baylor University, the City of Waco,

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.

Class A Office vacancy rates edged


Population 1,140,107

Population

234,783

Households Household Income Median Employees (Total)

91,531

Space X is expanding their operation

just outside of Waco in McGregor, TX. on their new regional headquarters in August 2012. Center were recently completed.

Households Household Income Median Employees (Total)

376,706

$44,485

Carter Blood Care is breaking ground

$66,176

Big box Industrial construction

94,029

Renovations to the Waco Convention

567,447

Unemployment

7.40%

Unemployment

6.00%

Residential development land sales are Local economic reports brightened in

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
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n n q

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n n n

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Vacancy

p p p

Absorption

Absorption

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

n n n

Vacancy

n n n
59

Vacancy

p n p

Vacancy

q p p

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

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.

The Multi-Family sector is still very


Square Miles

Vacancy rates have leveled out and

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

Retail developers are starting to dip

Small construction projects are taking


Households Household Income Median Employees (Total) 100,680 Households Household Income Median Employees (Total) 1,373,207

$46,100

The Residential market is seeing

Residential developers continue


$67,763

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

The unemployment rate is showing


Unemployment 7.10%

Overall Puget Sound employment


Unemployment 7.80%

This area continues to be an

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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Absorption

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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

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

WA - South Puget Sound

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

Multi-Family stats are up significantly

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.

Apartment activity for new


Households Household Income Median Employees (Total) 1,373,207

Households Household Income Median Employees (Total)

100,414

Industrial vacancies continue to climb


$62,921

$67,763

Some notable properties have been


68,733

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

Industrial absorption is still largely


Unemployment 7.80%

The Residential markets are beginning

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

Retail Pierce County absorption in

Owner-occupied commercial spaces

OFFICE
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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

p q q

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q p n
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n n n

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Absorption

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Rental Rates

Rental Rates

WA - Vancouver & Southwest

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

The commercial market is gradually

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

Janesville/Beloit and the Stateline


Households Household Income Median Employees (Total) 63,135

The Farwest Steel Corporation


Households Household Income Median Employees (Total) 878,239

$54,346

$58,563

Residential development is cautiously

The city of Janesville broke ground


63,044

952,611

Vancouver is one of the four counties


Unemployment 8.00%

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%

Residential transactions are up 8%

CONTACT
Coldwell Banker Commercial McGuire Mears & Associates 400 Midland Court, Suite 101 Janesville, WI 53546 (608) 752-6325 www.mcguiremears.com

Washington does not have a state

Retail is beginning to reawaken.

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
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RETAIL

OFFICE

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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

Vacancy

n n n

Absorption

Absorption

Absorption

Absorption

Rental Rates

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

Microsoft data center is to begin


Population 89,439

Households Household Income Median Employees (Total)

36,986

Niobrara oil development is

$60,634

Residential real estate market is Swan Ranch Industrial Development

31,977

is continuing. New rail spurs are now available.

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

Rental Rates

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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.

Many power of sale properties have


Square Miles

been absorbed.

Vacancy level in secondary space has


Population 64,237 Population 100,000

Little new construction in

Commercial/Retail/Multi-Family sectors. seen before low CAP rates. remains cautious

Households Household Income Average Employees (Total)

34,110

Waterloo House, approx 20,000 SF

Multi-Family units are selling at never


Households Household Income Average Employees (Total) 30000

$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.

Besides Multi-Family, the market


$52,803 USD

Residential data for 2011


39,457

CFB Trenton will have close to 1

48,760

billion in infrastructure upgrades over the next 10 years

Unemployment

6.00%

Slowly, more people are looking to

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

As an island destination, foreigners

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

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OFFICE

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p q q

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL
N/A N/A N/A
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MULTI-FAMILY

p q q

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Absorption

Absorption

Absorption

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Rental Rates

Rental Rates

Rental Rates

64

Canada - Greater Toronto Area

Canada - Kelowna/West Kelowna

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

Many smaller wholesale/distributors

Population

5,583,064

Across the GTA, 5.1 million SF of

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

Households Household Income Average Employees (Total)

1,800,000

Strong sales growth in the first half

Households Household Income Median Employees (Total)

67,000

Key infrastructure includes the UBCO

$63,500 USD

There is strong demand for logistics Locally, Oakville has the highest net

$60,524 CND

The Residential market has lost

2,919,410

Office rates in West GTA at $17.76 per SF.

100,278

Unemployment

7.20%

Unemployment

7.20%

New development in the past 5 years

Kelowna is the largest market

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

n n p

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p q q

Vacancy

p q q

Absorption

Absorption

Absorption

Absorption

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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

Canada - Ottawa, Ontario

DEMOGRAPHICS
CBSA Canada Nanaimo, BC

MARKET HIGHLIGHTS
Wholesale Sports Outdoor Outfitters

DEMOGRAPHICS
CBSA Canada Ottawa, Ontario 1,801

MARKET HIGHLIGHTS
Federal Government continues

came to Nanaimo. sales strong.

Square Miles

494

Nanaimo vacancy stays low, business


Square Miles

City reports many new development


Population 83,810

permits ready to go.

Nanaimo residential sales strong

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.

again for another year. Nanaimo.

Vacancy rates in Downtown office


Households Household Income Median Employees (Total) 420,000

Households Household Income Median Employees (Total)

N/A

Overall investor confidence is high in Nanaimo is an ocean side University

$45,937 USD

City, with low crime rates and lots of jobs.

$93,280 USD

N/A

743,100

New Downtown office towers (840,000

Unemployment

4.80%

Unemployment

6.20%

Residential condo developments close

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

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n q p

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MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

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q p p
66

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Canada - Waterloo Region

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.

According to JP Morgan, Colombia


Population 1,230,443

The innovation district is a plan


Households Household Income Median Employees (Total) 194,890

Households Household Income Average Employees (Total)

302,149

In a comparison of 183 countries, the

$74,490 CDN

$77,760,000 COL

282,300

Wilfrid Laurier University has become

364,285

Cartagena-Colombia is a UNESCO

Unemployment

6.40%

Unemployment

10.40%

At their recent annual meeting, RIM

Cartagena is considered one of the

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

New construction of high rise

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.

Manufacturing is also up.

OFFICE
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RETAIL

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Vacancy

MULTI-FAMILY

INDUSTRIAL

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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N/A N/A N/A

Absorption

Absorption

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Absorption

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Rental Rates

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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

privatization projects of Hellenic Republic Assets.

2billion in unfinished developments. lowest ever level.

Square Miles

50,949

Vacancy is rising as the general

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

Residential prices rise marginally in


Population 4,400,000

Dublin for 3 straight months.

Private construction activity in the


Households Household Income Average Employees (Total) 3,664,392

Residential prices outside Dublin


Households Household Income Median Employees (Total) 1,800,000

continue to fall but at a slower rate. showing signs of stabilizing. to retract.

Commercial property market is Residential bank lending continues

20,751

Residential transactions are on a

33,000

3,813,601

Recent national elections created

2,000,000

Unemployment

22.60%

There are several opportunities in the

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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p q q

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q q n

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p q q

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

p q q

Vacancy

p q q
68

Vacancy

q p n

Vacancy

q p q

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Absorption

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Mexico - Mexico City

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

Despite the lower volume per

Population

16,800,000

New developments are very limited.


Households Household Income Average Employees (Total) 7,500,000

Households Household Income Average Employees (Total)

N/A

The industrial market increased


$31,000 MXN

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.

The residential market is not


10,000,000

8,400,000

Absorption of office space reached

Unemployment

4.80%

The construction activity reports

Unemployment

5.50%

There is a strong focus on alternative

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

The average rent prices in the

CONTACT
Coldwell Banker Commercial The Netherlands A. van Leeuwenhoekweg 38 C20 Alphen aan den Rijn Holland 2408 AN (3162) 9494090 www.coldwellbanker.nl

The yield levels for Office buildings

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.

OFFICE
Vacancy

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p p q

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MULTI-FAMILY

INDUSTRIAL
N/A N/A N/A
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q q n

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69

Turkey - Istanbul

United Arab Emirates

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.

The start of this year marked an

Population

12,000,000

High return rate of investments in

Population

8,264,070

rentals, app. annual 8%-10%.

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.

Households Household Income Median Employees (Total)

2,800,000

Very high investments predicted by

The news of Dubai being one of the


Households Household Income Median Employees (Total) N/A

the government in real estate over the next 10 years.

N/A

N/A

The Arab uprising contributed to a

3,570,000

4,100,000

Unemployment

9.80%

Unemployment

N/A

Emaar Properties, the leading

The key feature of UAE being a tax-

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

OFFICE
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q p p

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INDUSTRIAL
Vacancy

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

n n n

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p
N/A

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p q q

Vacancy

q p p

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Absorption

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p
70

Rental Rates

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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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