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2013

Blue Book

SEMI-ANNUAL Market Intelligence Report


For Commercial Real Estate

Check out the


MARKETS SNAPSHOTS

cbcworldwide.com

CONTENTS
AL - Houston County AL - Montgomery AK - Anchorage AZ - Sedona AR - Little Rock CA - Antelope Valley CA - Chico CA - Inland Empire North / Victor Valley CA - Long Beach / South Bay CA - Modesto CA - Napa & Sonoma Valleys CA - Newport Beach CA - North Los Angeles County CA - North State CA - Oakland / East Bay CA - Orange County CA - Riverside / Corona Valley CA - Riverside / South West CA - Roseville / Placer County CA - San Mateo County CA - West Los Angeles CO - Denver CO - Grand Junction / Mesa County CT - Fairfield County DE - Sussex County FL - Boca Raton FL - Charlotte County FL - Daytona Beach / Ormond Beach FL - Deltona / Daytona Beach FL - Florida Keys / Key West FL - Fort Myers / Naples FL - Gainesville FL - Indian River County FL - Jacksonville FL - Lakeland / Winter Haven FL - Melbourne / Brevard County FL - Melbourne / Palm Bay / Titusville FL - Ocala, Marion County FL - Port Orange / New Smyrna Beach FL - Sarasota / Manatee / Charlotte FL - St. Lucie County FL - Tallahassee FL - Tampa Bay GA - Athens GA - Atlanta, Greater MSA GA - Columbus GA - Dalton / Whitfield County GA - Hinesville / Fort Stewart GA - Lake Oconee Trade Area GA - Marietta GA - Middle Georgia GA - Savannah HI - Honolulu ID - Boise, Idaho ID - Coeur dAlene ID - Eastern IL - Bloomington / Normal IL - Champaign / Urbana IL - Chicagoland IN - East Central Indiana IN - Indianapolis KS - Garden City KS - Kansas City Meto Area KY - Lexington KY - Louisville Metro KY - Southern LA - Lafayette LA - New Orleans ME - Midcoast and Southern MI - Northern MI - Western MN - Central MN - Mankato MN - Minneapolis Metro MS - Gulfport / Biloxi 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 38 38 39 39 40 40 41 MO - St. Joseph MT - Billings NE - Lincoln NV - Reno / Sparks NJ - Central & Northern NJ - Morris County NJ - Northern NM - Albuquerque / Bernalillo County NY - Long Island NY - New York City NC - Greensboro / Guilford County NC - Piedmont Triad NC - Wilmington ND - Fargo / Moorhead OH - Cincinnati OH - Cleveland OK - Oklahoma City Metro OK - Tulsa, Oklahoma OR - Portland OR - Salem OR - Southern PA - Northeastern PA - Philadelphia, Northern Suburbs PA - Southwestern SC - Charleston SC - Columbia SC - Greenville SC - Myrtle Beach SC - Spartanburg SC - Sumter SD - Rapid City TN - Chattanooga Metro TN - East TN - Nashville TX - Abilene TX - Amarillo TX - Austin TX - Bryan / College Station TX - Central / South TX - Houston TX - Lubbock TX - Rio Grande Valley MSA TX - Victoria TX - Waco UT - Salt Lake County VA - Fredericksburg VA - Lynchburg WA - Clark County WA - King County WI - Janesville / Beloit WI - Madison, Greater WY - Cheyenne Metro 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 63 64 64 65 65 66 66 67

INTERNATIONAL Bermuda 68 Canada - Aurora, Ontario 68 Canada - Barrie, Ontario 69 Canada - Innisfil, Ontario 69 Canada - Kelowna / West Kelowna, BC 70 Canada - Newmarket, Ontario 70 Canada - Orillia, Ontario 71 Canada - Ottawa, Canada 71 Canada - Richmond Hill, Ontario 72 Canada - Trail, British Columbia 72 Canada - Vaughan, Ontario 73 Canada - Waterloo Region, Ontario 73 Canada - Winnipeg Area, Manitoba 74 Costa Rica 74 France - Paris 75 Guatemala 75 Italy 76 Mexico - Mexico City 76 Puerto Rico 77 Spain - Barcelona & Catalua Region 77 United Arab Emirates - Dubai 78

US TRENDS*
The Coldwell Banker Commercial (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.

OFFICE
Q2 2012
Vacancy

retail
Q2 2012
11.9% 1,739,000 $17.96

industrial
2012
10.0% 96,277,000 $4.61

mulI-family
Q2 2012
4.8% 34,418 $1,082

Q2 2013
17.3% 7,220,000 $28.78

Q2 2013
11.5% 1,392,000 $18.11

2013
9.4% 101,003,000 $4.70

Q2 2013
4.3% 31,973 $1,110

17.0% 4,004,000 $28.17

Absorption

Rental Rates

Source: Reis. 2013 Industrial are projections.

The charts below represent how many of the 127 US markets submitted in this book are Up, Down or had No Change.** OFFICE retail
Vacancy Absorption 78 Markets 15 Markets 30 Markets Rental Rates 39 Markets 24 Markets 60 Markets Vacancy Absorption 85 Markets 9 Markets 31 Markets Rental Rates 40 Markets 26 Markets 56 Markets

p q n

11 Markets 80 Markets 35 Markets

p q n

7 Markets 88 Markets 28 Markets

Demand: Office mirrors job creation in the overall economy, the primary demand drivers have been in the Medical, Education, Technology and Energy sectors.

Demand: Grocery Anchored shopping centers are doing well with a trend toward specialty anchors such as Whole Foods, Trader Joes and Sprouts. High end and low end (discounters) are doing better, the middle is not the place to be, see Sears and JC Penny.

industrial
Vacancy Absorption 77 Markets 19 Markets 21 Markets Rental Rates 61 Markets 8 Markets 48 Markets Vacancy

multI-family
Absorption 85 Markets 6 Markets 18 Markets Rental Rates 85 Markets 1 Markets 23 Markets

p q n

14 Markets 79 Markets 25 Markets

p q n

8 Markets 87 Markets 15 Markets

Demand: According to REIS e-Commerce & Internet fulfillment have been driving demand while import/export activity is tapering off due to economic activity outside the U.S.

Supply: The level off of vacancy has been a function of increased supply growth. REIS has indicated that new units coming on line are 85% pre-leased indicating that demand remains strong.

UNEMPLOYMENT

p q n

16 Markets 103 Markets 8 Markets

Of the 16 markets where the unemployment rate rose, it was less than 1% increase in each market.
Largest Decrease: Modesto, CA - 2.8%

Jun 2012 vs Jun 2013 Source: Bureau of Labor Statistics *Based off 127 US Markets (Information was N/A in certain sectors)

AL - Houston County

AL - Montgomery

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Dothan, AL

1,718

143,295

57,785

$43,656

58,833

6.30%

Montgomery, AL

2,725

367,157

147,017

$52,679

144,160

6.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The Governor of Alabama opened the 110,000 SF College of

Osteopathic Medicine. Students began their first semester in August. to 6.3%.

50,000 SF back-office bank use is headed to former Colonial


Bank building on a 10 year lease.

Houston Countys unemployment rate has dropped from 6.7% In November, Houston County will be hosting the first
meeting ever held in the United States of over 400 business owners from China that are interested in expansion into the US. opened its aviation services facility in May.

There is activity in the market from outside companies

looking to capitalize on the low cost of labor tightening the market. the CBD and the suburbs. Office, Industrial and Retail are still absorbing inventory.

Several hundred new apartments are coming on line both in Sales of existing homes are up year to year over 12%. The downtown revitalization continues to lure both young

Hundreds of jobs came to Dothan when Commercial Jet

and old into considering Montgomery as their home due to an exciting urban renewal. set an annual production record of 361,348 units with a cumulative production figure of 2 million units for the year and is on target to beat that for 2013.

Hyundai Automotives popular Sonata, made in Montgomery,

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p
N/A

N/A N/A N/A

q p p

q p p

q p n

q p q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

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

CONTACT
Coldwell Banker Commercial Moore Company Realty
121 Coosa St. Suite 250 Montgomery, AL 36104 (334) 262-1958

www.alfredsalibacommercial.com

www.moorecompanyrealty.com

AK - Anchorage

AZ - Sedona

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Anchorage, AK

26,379

378,904

137,722

$72,444

162,368

6.60%

Flagstaff, AZ

18,617

130,596

46,597

$52,993

48,137

8.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Cabelas broke ground on their 100,000 SF south Anchorage


store. They will open May 2014. Bass Pro will open October 2013 with their 75,000 SF store. in 2014.

World Class Golf course Seven Canyons recapitalizes and

partners with 5-star Enchantment Resorts which was named the #1 Spa by Travel and Leisure magazine.

ULTA cosmetics will build stores in Anchorage and Fairbanks Wal-Mart will open its east Anchorage super store in October
2013 and new 160,000 SF Sams Club at Tikahtnu Commons September 5th. Retail continues to be strong with new retailers and restaurants coming into the market. Existing retailers are opening new locations to fill holes in the market. level. JL Properties broke ground in August for a new 100,000 SF building in midtown Anchorage that is 30% leased.

Vacancies are constant. Upscale Restaurateur is expanding from 2 to 4 locations. A


new location is currently under construction.

Low inventory is causing price increases and a sellers

market in certain price ranges. Prices under $250,000 have a 2 month absorption rate; under $400,000 have a 4 month absorption rate. market area.

The Class A Office market has improved to a 97% occupancy The Warehouse market is strong with a 2% vacancy rate. Rents are in the $9.60 to $15.00 range.

Both visitor and buyer traffic are increasing in the general Sedona continues to be rated by various periodicals as one of
the top three U.S. vacation destinations.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q n p

q p n

q p n

n n n

n n n

n n n

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Anchorage
2600 Cordova St. Suite 205 Anchorage, AK 99503 (907) 561-5155

CONTACT
Coldwell Banker Commercial First Affiliate
195 West SR 89A Sedona, AZ 86336 (928) 340-5000

www.coldwellutah.com

www.cbcworldwide.com

AR - Little Rock

CA - Antelope Valley

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Little Rock- North Little RockConway, AR

4,090

690,456

276,042

$56,190

290,765

6.70%

Antelope Valley

2,500

513,547

156,816

$67,268

166,627

8.50%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

40,000 SF of Class A Office space was absorbed via Perfect


Manufacturings purchase of 16101 St. Vincent Way. 200,000 SF in LR Logistics Center. market.

China based BYD, a firm specializing in rechargeable

Major Maumelle Industrial absorption by Leisure Arts taking Occupancy firms up at all top tier shopping centers in New entries and expansions by popular eateries: Twin Peaks,
Chuhys, Big Orange, On The Border, Chipotle and Slim Chickens. downtown. in 2013.

batteries, electric bus and vehicle manufacturing, and green energy technologies, opens electric bus manufacturing plant in the city of Lancaster and purchases a second location in the city that will become a large-scale battery production center. former B1B bomber plant, Site 9, in Palmdale to fulfill an $890 million contract to build as many as 235 light rail cars for the Los Angeles County Metropolitan Transportation Authority. is in the final stages of construction for its new 80,000 SF corporate headquarters in the city of Lancaster and is predicted to bring 300 jobs to the area.

Kinkisharyo International announced plans to utilize the

Mann on Main and Arcade Mixed-Use projects open in Kiplinger ranks Little Rock #1 on its 10 Best Places to Live

Aerospace fastener manufacturer, Morton Manufacturing, Innovative Coatings Technology Corporation (INCOTEC), a

global leader in coatings technology, announced plans to move their headquarters to the City of Lancaster. Having outgrown their current facility in Mojave, INCOTEC plans on expanding their manufacturing capacity to the new Lancaster headquarters, adding 50 new hires in the process.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p q q

n q p

q n p

q p p

q p n

q p n

q p n

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Hathaway Group
2100 Riverdale Rd. Suite 100 P.O Box 3730 LIttle Rock, AR 72202 (501) 663-5400

CONTACT
Coldwell Banker Commercial Valley Realty
42402 10th St. West Suite E Lancaster, CA 93534 (661) 945-2524

www.hathawaygroup.com

www.cbcvalleyrealty.com

CA - Chico

CA - Inland Empire North / Victor Valley

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Chico, CA

1,639

221,277

88,796

$43,239

60,484

10.30%

RiversideSan Bernardino Ontario, CA

27,260

4,171,856

1,350,253

$52,845

1,156,307

10.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Sales and transient occupancy tax is significantly increasing


and now is above 2007 levels.

Recently opened or under construction: Dicks Sporting

Number of building permits is up almost 250% over last year.


It is the highest level in six years.

Goods, Steak N Shake, Chipotle, Red Robin, Fat Burger, Dennys, Ulta Beauty and In Shape Gym. Hesperia.

The first Hot Dog on a Stick drive thru in California opens in Multi-Family sales price per SF is up 42% year over year. Land: Average transaction price has risen 53% since the
beginning of the year.

The technology sector is improving.

Milestone Technologies, Build.com and new ChicoStart Innovation Lab are expanding into new facilities. Chipotle and CVS.

There are new major retailers in the area including BevMo, There is high vacancy in large Offices and Warehouses at
airport and Industrial parks. lower vacancy.

If Victor Valleys trade area (population 442,497) was a city, it


would be the 8th largest city in the state. region.

The small Warehouse and Office market is very active with

There is $5.3 billion of Retail potential in the Victor Valley The HDO Annual regional business conference will be held on
Oct 17, 2013 in Victorville.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q q n

q p n

q p n

q p n

q q q

q p n

p q p

n n p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial DuFour Realty
1350 E. Lassen Ave. Suite 1 Chico, CA 95973 (530) 895-1545

CONTACT
Coldwell Banker Commercial Real Estate Solutions
15500 W Sand St. 2nd Floor Victorville, CA 92392 (760) 684-8000

www.cbcworldwide.com

www.cbcdesert.com

CA - Long Beach / South Bay

CA - Modesto

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Long Beach, CA

4,850

12,935,173

4,288,080

$60,485

5,313,010

9.20%

Modesto, CA

1,494

512,221

167,008

$49,395

140,743

12.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Mercedes Benz USA has leased a 1,091,754 SF Industrial


complex on 52 acres of land.

Stanislaus County is located in the Central Valley.

Two new high-rise Residential developments will soon begin


construction in Downtown Long Beach. properties.

Many people in the surrounding areas shop in its county seat of Modesto. 18,000 people or 11.3 percent of the total 160,000 people that are employed. The unemployment rate varies due to seasonal positions in the AG industry.

The major industry is AG-related, employing approximately Well located shopping areas have been attracting new

Sale inventory is very low, especially for Multi-Family A large SBA buyer pool is looking to purchase.

tenants with some major remodeling. Vacant spaces, due to the lack of new construction, have been absorbed as needed. Kaiser Permanente built a major hospital complex with Memorial Hospital building, a major expansion. based on tax assessments being lowered due to the 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 unemployment in the area starts to decline. and locations.

There have been major layoffs in the government sector

The Office and Retail markets are improving in good centers

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q q p

q p p

q p n

q n p

q p n

q p n

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Blair Westmac
333 W. Broadway Suite 312 Long Beach, CA 90802 (562) 495-6070

CONTACT
Coldwell Banker Commercial Vinson Chase, Realtor
220- C Standiford Ave. Modesto, CA 95350 (209) 577-2121

www.cbcblair.com

www.cbcworldwide.com

CA - Napa & Sonoma Valleys

CA - Newport Beach

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Napa, CA

754

135,273

52,057

$72,042

60,343

5.80%

Los AngelesLong BeachSanta Ana, CA

4,850

12,935,173

4,288,080

$60,485

5,313,010

9.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

In the first half of 2013, many developers and builders came City of Napa has received an application for a 5+ acre

back into the market. One project included 120 townhouses at a high profile corner of Hwy. 29 and American Canyon Rd. subdivision comprised of 32 one and two-story single family homes, east of the Alexander Crossing Apartments under construction on Silverado Trail. an infill project of 71 townhomes, ranging from 1,200 to 2,000 SF in size, in the Pear Tree Lane area of Napa. that will add $1.5 to $2 million per year in transient occupancy tax revenue within the next 3 to 5 years.

A Bay Area developer is in escrow to close later this year on

Office vacancy rates are improving slightly. Office rental rates are still declining. Retail investments are beginning to move again. Industrial unit sales are moving up slightly. Multi-Family investment prices are rising while the cap rate
is declining.

Retail rent rates are moving up.

Calistoga voters approved three new Hotel / Resort projects In St. Helena, Retail rental rates continue to trend upward,

approaching $3.50 to $4.00 per SF. In Yountville, only one Retail space is available for lease in Washington Square. The only Office building listed for sale received multiple offers over the $1.2MM asking price. 12 townhouses on a one acre parcel, just east of the turn onto Hwy 12.

On West Napa St. in Sonoma, a developer has plans to build

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p n

q p n

N/A

n n q

q p q

n n p

q p p

Absorption

p p

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Brokers of the Valley
1775 Lincoln Ave. Napa, CA 94558 (707) 224-8454

CONTACT
Coldwell Banker Commercial NRT - Balboa Island
201 Marine Ave. Balboa Island, CA 92662 (949) 422-6657

www.napacommercialproperties.com

www.cbcworldwide.com

CA - North Los Angeles County

CA - North State

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Los AngelesLong BeachSanta Ana, CA

4,850

12,935,173

4,288,080

60,485

5,313,010

9.20%

Redding, CA

3,785

181,457

71,491

45,729

53,468

10.60%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Avery International relocated their headquarters from


Pasadena to Glendale.

Partnership Healthcare California will hire 80 people and


acquire 14,000 SF of Office space. shortages in Office and Retail. sectors remain flat. foreclosures.

Vacancy is decreasing in Pasadena and Burbank because

companies are beginning to hire new employees again and there are no new office buildings under construction. in early 2014.

No new construction for the past 5 years is resulting in Housing construction is starting up again, but all other Increased demand has driven up values which has reduced There is a surprising recovery in Retail sector. Redding outperforms San Francisco in per capita Retail
spending.

In Pasadena, one new Office building will start construction Residential prices have already increased 15% in 2013. There is more optimism in the market because the

unemployment rate is decreasing, interest rates are low and many investors want to purchase commercial properties. most other cities throughout the region.

Pasadena and Burbank have lower Office vacancy rates than Industrial rental rates and sale prices are increasing because
vacancy is under 5%. Industrial is a sellers market, due to increased demand from users for space, low vacancy and very favorable interest rates for buyers.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p p

q p p

q p p

q p n

q p p

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Alliance
701 North Brand Blvd. 850 Glendale, CA 91203 (818) 334-1900

CONTACT
Coldwell Banker Commercial C&C Properties
2155 Larkspur Lane, #A Redding, CA 96002 (530) 221-9638

www.cbcalliance.com

10

www.cbcnorthstate.com

CA - Oakland / East Bay

CA - Orange County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

San FranciscoOaklandFremont, CA

2,473

4,347,767

1,661,661

$80,439

1,916,201

6.50%

Los AngelesLong BeachSanta Ana, CA

4,850

12,935,173

4,288,080

60,485

5,313,010

9.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The 345,700 SF Downtown Pleasant Hill Retail center was


sold for $100,000,000 ($289 PSF, 7.1% Cap Rate). San Francisco.

The East Bay market is benefiting from firms priced out of Solid employment gains are continuing. Apartment developers are restarting projects shelved during
the recession.

Irvine Company sees 5 Million more SF of Offices. The recession is largely behind the best of Orange Countys
big-box space.

Research and Development sector activity is increasing. The housing market is on fire, up to $1,000,000 in sales. Fashion Island Shopping Center renovations are almost
completed.

Cash continues to pour in from overseas investors. The East Bays unique culture is more laid back and

Construction is up in most sectors, but Retail lags.

uncomplicated when compared to that of its western neighbors.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q n n

n n n

q p p

q q p

q p n

n n p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Pleasanton
5980 Stoneridge Dr. Suite 122 Pleasanton, CA 94588 (925) 847-2266

CONTACT
Coldwell Banker Commercial NRT - Newport Beach
4 San Joaquin Plz. Suite 260 Newport Beach, CA 92660 (714) 504-4649

www.cbcworldwide.com

11

www.cbcworldwide.com

CA - Riverside / Corona Valley

CA - Riverside / South West

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

RiversideSan BernardinoOntario, CA

27,260

4,171,856

1,350,253

52,845

1,156,307

10.20%

RiversideSan BernardinoOntario, CA

27,260

4,171,856

1,350,253

$52,845

1,156,307

11.10%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Industrial continues to be the strong point of the commercial


real estate market in the Corona Valley. the market which was in Q1 2012.

All economic indicators continue to point to a stabilizing


economy for the second half of the year.

Office rental rates have increased 7.6% from the bottom of As residential builders are now resuming new home
construction projects, Retail activity and prices are starting to climb. 12.4% from the previous year.

Continued positive absorption and only one new delivery of In Retail, all sub markets, with the exception of four, have

Class B professional Office space resulted in another drop in vacancy for Southwest Riverside County. dropped to a vacancy rate of 10% or below. This is a great measure of economic health within the Southwest Riverside County region and will no doubt contribute to increasing lease rates as vacancy continues to drop. doctors are looking to relocate within close proximity. This is driving up demand in the Hwy. 79 South area with most of the available Medical Office product getting leased and / or sold. 12.4% from the previous year.

The unemployment rate has dropped to 10.2%, down from

As the Temecula Valley Hospital nears completion, many

The unemployment rate has dropped to 11.1%, down from

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p q

p p n

N/A N/A N/A

q p n

q q p

q q p

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Sudweeks Group
1260 Corona Pointe Ct. Suite 101 Corona, CA 92879 (951) 239-3147

CONTACT
Coldwell Banker Commercial Sudweeks Group
27708 Jefferson Ave. Suite 201 Temecula, CA 92590 (951) 200-7683

www.cbcsocalgroup.com

12

www.cbcsocalgroup.com

CA - Roseville / Placer County

CA - San Mateo County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

SacramentoArdenArcadeRoseville, CA

5,094

2,141,658

801,834

61,184

727,825

8.50%

San DiegoCarlsbadSan Marcos, CA

4,200

3,071,264

1,129,261

$66,264

1,227,936

7.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Major Retail construction at Rocklin Crossing of 543,200 SF. Major big-box construction in Rocklin Commons of 410,942 SF. Leasing activity in all sectors is level to increasing.
Residential construction up. increasing. hiring.

Eleventh consecutive quarter of asking rate rising 3.7%


quarter after quarter in the Office market.

There is a shortage of Building Lots, and Land prices are There is growth in new jobs as the healthcare industry is Investors are coming back into the market.

Salesforce leases out 103,373 SF. Industrial sale of 87,000 SF by IIT Acquisitions, LLC. There was a sale of an 85,000 SF Industrial building by
Terrano Realty Group.

Industrial tenant demand increases as companies from


surrounding markets look to relocate to the Peninsula. construction for 2014.

Over 600 Multi-Family units in Redwood City are under

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q q n

q p q

q p n

q p p

q p p

q p p

n p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Roseville
2270 Douglas Blvd. Suite 120 Roseville, CA 95661 (916) 786-4600

CONTACT
Coldwell Banker Commercial Westbay Real Estate Group
1575 Bayshore Hwy. Suite 100 Burlingame, CA 94010 (650) 344-4300

www.cbcworldwide.com

13

www.cbcburlingame.com

CA - West Los Angeles

CO - Denver

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Los AngelesLong BeachSanta Ana, CA

4,850

12,935,173

4,288,080

$60,485

5,313,010

9.20%

DenverAurora, CO

8,369

2,578,383

1,001,550

67,727

1,140,976

7.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Technology, internet and media continue to take additional


space.

One Touch Print relocated its Denver HQ comprised of 82,467


SF to the former Office Depot facility in North Denver.

Vacancy rates and rents remain steady. Apartment development is on the rise. Apartments are in high demand. Capitalization rates and price per SF are back to 2007 levels. Investment inventory is very low.

Denver has had 14 consecutive quarters of positive

absorption. Year to date, Office is 860,157 SF; Industrial is 1.6 million SF; and Retail expanded by 665,786 SF. SF trading for $926 million.

The investment market is returning rapidly with 5.1 million The Union Station redevelopment will open its first new
Office building this fall known as One Union Station. Five additional projects are in the pipeline. 2008 levels) are making Denver very attractive for investors. 6.9%.

Positive absorption in all markets and rising rents (exceeding Colorados unemployment rate fell in the last quarter to

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q p n

p q p

q p p

q p p

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial WESTMAC
1515 S. Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700

CONTACT
Coldwell Banker Commercial Alliance
999 18th Street, Suite 1350 Denver, CO 80202 (303) 238-7777

www.westmac.com

14

www.cbcalliance.com

CO - Grand Junction / Mesa County

CT - Fairfield County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Grand Junction, CO

3,328

148,298

60,317

$47,409

54,564

9.00%

BridgeportStamfordNorwalk, CT

626

904,874

336,733

$91,039

419,437

7.50%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Western Colorado continues recovery in the market. Regional


Medical Center announces next phase with a $40M economic impact to the region as they complete the project. Additional medical related projects: 87,000 SF, $24M Medical Plaza and a 17,000 SF Pain Management, Ambulatory Surgery Center.

Fairfield Countys Office market ended Q2 of 2013 with a

vacancy rate of 15.1%, up from 15.0% with net absorption totaling negative 64,127 SF, compares to positive 65,818 SF in the Q1 2013. Vacant sublease space increased in the quarter, ending the quarter at 929,149 SF. in Office in Q1 2013 from 928,936 SF to 929,149 SF. Industrial decreased from 65,108 SF Q1 2013 to 61,458 SF by the end of the Q2. Retail has trended up over the past four quarters from Q3 2012 16,680 to 18,665 Q2 2013. Charter Communications is moving into 73,564 SF Office space. Seaboard Industries Inc. moved into 32,000 SF of Industrial space. Price Rite moved into 46,000 SF of Retail space and Whole Foods Market moved into 35,200 SF of Retail space. Road 6,500 SF facility and 264 South Beach Ave, a 5,400 SF building. Industrial $7.61 SF; and Retail $25.31 SF.

Year to date total volume is up 9.18% for the first half of

the year. The 2012 year to date volume sold $258,392,219 compared to the 2013 year to date volume sold $281,324,778. Transactions are down by 3.39%; the 2012 units sold 1,524 and 2013 units sold is 1,474 . 2013 according to the Mesa County building department. January to June 2013, 121 new building permits were issued, in 2012 there were 133 permits issued, down by 9.09%. building on 2.92 acre redevelopment for a government tenant sold for $1.95 million; a 47,280 SF redevelopment family fun center sold for $1.85 million; an 18,900 SF Industrial energy related sold for $965,750; and a 19,200 SF Industrial redevelopment sold for $800,000.

Fairfield Countys available vacant-sublease space increased

Year to date building permits are down for the first half of

Millward Brown vacated 73,564 SF of Office space.

Significant deals in the first half of 2013 include a 56,000 SF

Notable constructions projects of 2013 are: 106 Federal The average quoted asking rate is $37.74 SF for Office;

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p q

q p q

n q q

q n n

p q p

q p n

n q q

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Prime Properties, LLC
2646 Patterson Rd., Suite B Grand Junction, CO 81506 (970) 243-7375

CONTACT
Coldwell Banker Commercial NRT- Wilton
77 Old Ridgefield Road Wilton, CT 06897 (203) 831-4187

www.grandjunctioncommercial.com

15

www.cbcworldwide.com

DE - Sussex County

FL - Boca Raton

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Seaford, DE

938

194,215

78,981

$52,386

68,986

6.50%

Boca Raton, FL

5,126

5,566,404

2,128,471

$57,415

2,069,525

7.50%

MARKET HIGHLIGHTS

Several new national tenants have opened on Coastal

Highway, including: TD Bank, Buffalo Wild Wings, Panera Bread and Chipotle. Shore Bank and Keller-Williams have also opened offices. rise in tourism, more summer rental activity and rapidly increasing retirement influx. residential construction increased dramatically over the past year. over 2011.

MARKET HIGHLIGHTS The Boca Raton submarket had a slight drop in Office vacancy rate to about 23.1%. Although there was minimal new corporate relocations into this market, several existing companies expanded either in their current locations or expanded laterally in the market.

Commercial activity has continued to improve due to the While commercial construction is still slow, the level of

The largest transaction signed in Q2 was Tyco Integrated

Security. The company leased 72,234 SF at Boca Corporate Center and Campus in Boca Raton. Tyco will be vacating 175,000 SF at 1501 Yamato Rd., Boca Raton, to be backfilled by their affiliate ADT. year and remained at a current rate of $17.00 PSF NNN. Boca Raton or Palm Beach County market.

The overall average asking lease rates held steady over last Currently, there are no new Office projects underway in the There was one notable Office building sale during Q2.
Cendyn, a full service digital marketing agency, acquired the Compson Financial Center in Boca Raton at auction for approximately $10 million or $107 PSF. The property was 23% occupied at the time of sale. growth in 2013. Landlords and investors are optimistic as the Office market continues to improve at a slow but steady pace. Housing values continue to improve in the area with annual building permits on the rise for the first time in 5 years.
OFFICE
Vacancy

Closed residential resale volume increased 14.5% in 2012 Traffic volume on Route 1 and Coastal Highway remains at a
very high level making it one of the best Retail areas in the mid-Atlantic region.

Sussex Countys great accessibility to bays and the ocean,

coupled with low property taxes, and no sales tax continues to make it one of the top retiree destinations on the east coast.

Indicators are trending in a positive direction, leading to

OFFICE
Vacancy

retail

industrial

multy-family

retail

industrial

multy-family

q p n

q p n

N/A N/A N/A

N/A N/A N/A

q p
N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Resort Realty
20184 Coastal Hwy. Rehoboth Beach, DE 19971 (302) 227-5000

CONTACT
Coldwell Banker Commercial NRT - Boca Raton
1800 NW Corporate Blvd. Suite 100 Boca Raton, FL 33431 (561) 479-1225

www.cbankercommercial.com

16

www.cbcworldwide.com

FL - Charlotte County

FL - Daytona Beach / Ormond Beach

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Punta Gorda, FL

694

156,239

70,703

$50,696

38,556

7.30%

Deltona Daytona Ormond Beach, FL

1,103

495,625

214,567

$47,500

146,482

7.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

There have been no significant changes in the market in the


past 6 months.

Diamond Aircraft Industries, the worlds third largest aircraft

Vacancy is staying level. There was a small increase in new construction. Inventory is low and new home construction is up. The market has stabilized. The market is a great location for retirees.

manufacturer, has just committed to a long-term partnership with Embry Riddle Aeronautical University that will result in an expansion of the companys international research and development program. million phase one: a 250 room hotel, 100 unit condo and a 28,000 SF ballroom on 10 acres of beachfront.

Hard Rock Cafe and Bayshore Capital just announced a $150 Daytona International Speedway broke ground July 5th on a Protogroup of St. Petersburg, Russia has announced a 1.4
million SF Hotel and Condo project on a 4.5 acre site.

3 year, $400 million renovation project that will use 3% of the steel produced in the USA annually.

Daytona Speedway has teamed up with Atlanta based Jacoby


Group to develop a 500,000 SF Mixed-Use project across from the International Speedway. passenger boardings continue to increase in and out of Daytona Beach International Airport .

Hotel / Motel room occupancy continues to climb as

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n n n

n n n

n n n

q p n

q p n

n n n

q p n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Sunstar Realty, Inc
1980 Kings Hwy. Port Charlotte, FL 33980 (941) 255-3497

CONTACT
Coldwell Banker Commercial Benchmark
570 Memorial Circle Suite 300 Ormond Beach, FL 32174 (386) 672-8530

www.sunstarcommercial.com

17

www.benchmarkdaytona.com

FL - Deltona / Daytona Beach

FL - Florida Keys / Key West

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Deltona Daytona Ormond Beach, FL

1,103

495,625

214,567

$47,500

146,482

7.30%

Key West, FL

997

73,047

32,553

$71,455

29,685

4.10%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Bethune-Cookman University opens its Deltona Campus. Increase in jobs creates more demand for Office, Industrial
and Retail space. gets absorbed.

Tourism remains strong and Hospitality leads the commercial


markets. Over 500 new hotel rooms on the Keys will come on the market in 2014.

New home construction is picking up as excess inventory For the first time since the recession, Volusia County is
seeing an increase in property values. to see if the market has stabilized.

Retail is rebounding on the strength of Hospitality.

Dollar Tree, CVS, Walgreens and Publix are expanding their footprints in the Keys. throughout the Keys.

New Hotel and Hotel redevelopment projects are underway The residential market is up almost 20% YTD through July. The Florida Keys is designated as an Area of State Critical
Average sales prices have increased about 6% while inventories are down almost 10%. Concern which severely restricts development. The Keys enjoy the lowest unemployment rate in the state and the highest cost of living. and click on our Newsletter link to view our quarterly statistical newsletters to learn about this market in greater detail.

Businesses are starting to expand as they no longer can wait First Sunrail station in Volusia County is set to open in 2014,
with a station in the City of Debary.

Please visit our website at www.RealEstateFloridaKeys.com

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

n n n

q p p

q
N/A N/A

q
N/A N/A

q
N/A N/A

q
N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial AI Group
1019 Town Center Dr. Suite 200 Orange City, FL 32763 (386) 775-8633

CONTACT
Coldwell Banker Commercial Schmitt Real Estate Company
11100 Overseas Hwy. Marathon, FL 33050 (305) 289-6482

www.cbcaigroup.com

18

www.cbcworldwide.com

FL - Fort Myers / Naples

FL - Gainesville

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

NaplesMarco Island, FL

2,025

320,101

132,487

$76,515

115,960

7.20%

Gainesville, FL

1,223

261,674

113,545

$45,060

87,322

6.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Hertz Car Rentals is moving their national headquarters from


New Jersey to Estero between Fort Myers and Naples. This will move 700 families to southwest Florida.

In the 1st half of 2013, Office had positive absorption, rates


were up 5.0%, and time on market was down.

Vacancy is falling across all commercial types due to

Retail had positive absorption in the first half of 2013 with


rates up 4.0%. Time on market has increased.

businesses expansion and the absence of new construction for 5 or 6 years.

Office stats: Average asking gross rate is $14.12/SF; 244 total


active listings; average days on market is 408 days; vacancy is between 12-13%.

New construction is starting as vacancies hit continued lows. The residential market is hot. Now is the time to buy or lease in SW Florida.

Retail stats: Average asking NNN rate is $16.02/SF; 199

total active listings; average days on the market is 704 days; vacancy is 9-10%.

The average Land closing price is $2,646 per acre. Hottest to coldest in number of transactions: Office leasing,

Agriculture and timber Land sales, Retail leasing, Industrial leasing, Office sales, Industrial sales.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p q

q p p

N/A N/A N/A

q p p

q p p

p q n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Naples
4851 North Tamiami Trail Naples, FL 34103 (239) 596-6130

CONTACT
Coldwell Banker Commercial M.M. Parrish Realtors
7515 W. University Ave. Suite 201 Gainesville, FL 32607 (352) 264-3800

www.cbcworldwide.com

19

www.mmparrish.com/commercial

FL - Indian River County

FL - Jacksonville

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

SebastianVero Beach, FL

503

135,534

59,807

62,271

43,595

9.30%

Jacksonville, FL

3,221

1,334,380

518,910

$60,216

551,254

7.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

A new Publix center opens on U.S. Hwy. and 58th while


Albertsons closes.

President Barack Obama came to Jacksonville, Florida, in July to


tour JAXPORT. He called on Congress to increase infrastructure investment and stressed the importance of deepening the shipping channel to accept supertankers. CEO of the Port. Taylor has served around the world during his 30-year career and has an MBA in Economics and Financial Management from Concordia University in Montreal. terms with the City of Jacksonville to undertake approximately $63 million in major enhancements to EverBank Field, including two new end zone video scoreboards that will be the largest of their kind in the world. Also, renovations to the north end zone will make it a world-class entertainment destination to attract and keep many premier events in Jacksonville. Jacksonville Beach, in a shopping center at the intersection of A1A and J. Turner Butler Blvd. California based Trader Joes, which sells gourmet items, beer and wine and pantry staples, typically targets an educated, high-income demographic. St. in Jacksonville. EverBank will expand to occupy the 27th and 28th floors in addition to the 270,000 SF they have occupied since late 2011.
OFFICE
Vacancy

Vacancy rates are gradually reducing as rents stabilize. U.S. Hwy. 1 south of Vero to the county line is expanding to 6
lanes.

JAXPORT board of directors hired Brian Taylor as the new

New home starts are up over 20% and rising. Growth and rising home prices lead toward a healthy
economy.

The Jacksonville Jaguars announced that the team has agreed to

Completed, permitted and entitled residential subdivisions are in hot demand.

Real estate sources say Trader Joes is considering a site in

EverBank Financial Corp. signed a 62,798 SF lease at 301 W. Bay


OFFICE
Vacancy

retail

industrial

multy-family

retail

industrial

multy-family

n p n

n p n

q p n

q p p

q p p

p p p

q q p

n q p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Ed Schlitt, Realtors
1950 US Hwy 1 Vero Beach, FL 32960 (772) 778-9257

CONTACT
Coldwell Banker Commercial Benchmark
4348 Southpoint Blvd., Suite 310 Jacksonville, FL 32216 (904) 281-1990

cbc.flcoldwellbanker.com

20

www.cbcbenchmark.com

FL - Lakeland / Winter Haven

FL - Melbourne / Brevard County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Lakeland Winter Haven, FL

2,010

606,019

228,998

$40,730

245,900

8.40%

Palm BayMelbourneTitusville, FL

1,018

536,805

225,977

$56,299

181,926

7.80%

MARKET HIGHLIGHTS

Lakeland is a finalist for an Amazon Warehouse. Lakeland Regional Medical Center announces a new $80 million
building and relocates 180 nonclinical employees (32,000 SF) downtown. Center in Winter Haven.

MARKET HIGHLIGHTS

Port Canaveral is creating the Inland Port in Titusville for

shipping bulk cargo. The $23 million project will connect the port to rail. Port Canaveral is now one of the busiest ports in the world. jobs. Brevard County unemployment down to 7.8%.

CSX is under construction with their Intermodal Logistics There was continued growth on US Hwy 27 due to LEGOLAND
Florida traffic and residential construction at 4 corners. up over 15%.

Vacancy is falling in Brevard County due to the increase in Grumman is building a 200,000 SF Manned Aircraft Design Homes sales are up over 24%, and national builders are
having trouble keeping up with demand. Center of Excellence in Melbourne, creating over 1,000 new jobs.

Residential sales volume is up nearly 30%. Medical prices are Downtown Winter Haven continues to redevelop; another 1/2
block is under construction.

Numerous national retailers & restaurants are locating to NASA is being replaced by the commercialization of the

Florida Polytechnic University, Floridas 12th university, will open for its 1st class of 500 students in Fall 2014. Plans are to grow to 5,000 enrollment over the next 10 years. The 120,000 SF iconic first building, designed by world famous architect, Santiago Calatrava, will be completed by year end. The curriculum focus is on STEM - science, technology, engineering and math. LEGOLAND Florida, located in southeast Winter Haven, has
OFFICE
Vacancy

Brevard County, including: Bass Pro Outlets, Cheddars and Chipotle. space industry with companies such as Space X, United Launch Alliance, ATK, Boeing, Lockheed, Orbital Science, Blue Origin and many others.

been opened for 1 1/2 years and plans to reach 2 million visitors within 3 years.
retail
industrial multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

q p p

q p p

q p p

q p n

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Saunders Ralston Dantzler Realty
114 N Tennessee Ave. 3rd Floor Lakeland, FL 33801 (863) 648-1528

CONTACT
Coldwell Banker Commercial Ed Schlitt, Realtors
232 Fifth Ave. Indialantic, FL 32903 (321) 723-9500

www.srdcommercial.com

21

cbc.flcoldwellbanker.com

FL - Melbourne / Palm Bay / Titusville

FL - Ocala, Marion County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Palm BayMelbourneTitusville, FL

1,018

536,805

225,977

$56,299

181,926

7.80%

Ocala, FL

1,579

329,658

137,836

42,854

91,158

8.20%

MARKET HIGHLIGHTS

Space Coast Brevard offers pro-business incentives, low

taxes, robust transportation infrastructure, high-tech labor force, 73 degree average temp and 72 miles of pristine beach. Engineering and Technology Center at Melbourne International Airport, which will generate 200 engineering jobs by the end of 2016. facility and international HQ in Titusville. The project will generate a $5.5 million economic impact annually, adding 65 new jobs in four years. propellant subcontractor, will create 50 jobs at an average salary of $64,000 as it returns to Kennedy Space Center.

MARKET HIGHLIGHTS FedEx has signed a contract with the city to construct an 800,000+ SF packaging and fulfillment facility in one of Ocalas Industrial parks. Construction is set to begin mid 2014.

Embraer Aircraft is building a 63,500 SF, $24 million Embraer Eckler Industries, Inc. is expanding its auto parts distribution United Paradyne Corp., a California based, aerospace related,

Retail vacancy rates continued to fall from 7.5% to 7.3% during


the last quarter. Office vacancy rates climbed from 9.3% to 9.4% due to negative net absorption. Industrial vacancy rate rose from 11.4% to 12% also due to negative net absorption. The rising rates are mostly because of new REO assets. date, there have been 203 permits filed with the county.

New construction start ups are beginning to come online. To The residential market is steadily improving due to low
inventory and high demand. Marion Countys overall increase in home value has risen by approximately 12% in the last 1215 months. part to an aggressive pro business agenda from the city and the Chamber for Economic Partnership. City leaders have been successful in bringing in new companies to relocate to the area, bringing down unemployment.

Archo Solutions Engineering USA will open its first U.S. facility
at Melbourne International Airport to tap into US commercial / executive jet markets, creating 50 jobs by 2016 at an average salary of $50,000. $167,898 is up over 15% from July 2012 prices and the July 2013 average days on the market of 97 has dropped 21.14% over July 2012.
OFFICE
Vacancy

Ocala / Marion Countys market has started to improve due in

Brevards July 2013 residential market average sale price

Marion County is known as the horse capital of the world with


a very strong equine industry. Low taxes and close proximity to major metro areas continue to make Ocala one of the best places to live and work in the country.
OFFICE
Vacancy

retail

industrial

multy-family

retail

industrial

multy-family

n p p

q p n

q p n

q p p

p q n

q p p

p q n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Sun Land Realty of Florida
1920 Hwy A1A Indian Harbour Beach, FL 32937 (321) 777-7743

CONTACT
Coldwell Banker Commercial Ellison Realty Inc.
2226 East Silver Springs Blvd. Ocala, FL 34470 (352) 732-8350

www.cbcsunlandrealty.com

22

www.cbcworldwide.com

FL - Port Orange / New Smyrna Beach

FL - Sarasota / Manatee / Charlotte

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Deltona Daytona Ormond Beach, FL

1,103

495,625

214,567

47,500

146,482

7.30%

SarasotaBradentonVenice, FL

1,313

689,676

311,173

$58,236

230,801

7.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The City of Port Orange is seeing significant commercial

retail growth, with development of the Altamira Shopping Village along SR-421, Dunlawton Ave. and Taylor Road. Major stores include BJs and LA Fitness, with previously filled outparcels of CVS, Golden Corral, and Aspen Dental. The current project, valued at $9.9 million, is the largest commercial development under construction in Volusia County. developed by Birmingham, AL based LIV Development. A 306 unit luxury complex is taking shape near The Pavilion at Port Orange. It is set to be the first new apartment complex to be built in East Volusia in two years. Smyrna Beach is well underway and should see development as economic conditions improve. As further residential communities expand to the west, commercial follows suit. development and redevelopment, as well as an increase in demand for housing and Multi-Family. There is also a strong demand for quality ALFs.

Panama Expansion should be completed in 2015-2016. This


will increase shipping traffic to the Port of Tampa and the Port of Manatee. Manatee is the fourth largest port in the state.

Industrial sales and leases have increased. The greatest demand for all types of commercial real estate
is along the I-75 corridor.

The $30 million, White Palm Apartments is under way, being

Nat Benderson Rowing Complex, located along I-75 and

Commercial growth near the SR-44 exit of I-95 and New

University Parkway, has begun operation bringing many rowers from all over the world. They will be developing a Village Concept including: Hotels, Residential, Retail, and a Restaurant as part of this complex. market the 15 acres of downtown waterfront with Mixed-use activities. This was the former Quay.

The Irish Resolution Trust has gotten the clearance to Residential new construction is up. Residential Multi-Family Land sales are up. Unemployment is 7.2%.

The area is going to continue to fill vacancies and see new

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

p q p

q p p

q p n

n n q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Coast Realty
5535 S. Williamson Blvd. Port Orange, FL 32129 (386) 763-3323

CONTACT
Coldwell Banker Commercial NRT - Sarasota
100 N. Tamiami Trail Sarasota, FL 34236 (941) 487-2100

www.coastrealty.cc

23

www.cbcworldwide.com

FL - St. Lucie County

FL - Tallahassee

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Port St. Lucie, FL

1,128

407,361

169,340

$53,266

117,662

9.30%

Tallahassee, FL

2,387

361,765

154,494

$47,364

111,973

6.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Low lease rates (particularly in Industrial and Office sectors)


are attracting new tenants. lease rates.

Four major new tenants: Whole Foods, Trader Joes, Dicks


Sporting Goods and Bass Pro Shop, will be opening stores this fall.

Investment activity is picking up; anticipating a recovery in Land investors are back in the market as Residential
construction continues to improve. Residential resales are still strong with prices increasing 0.5 to 1% monthly. activity. Several national homebuilders are building again in the area and briskly selling homes. new City Marina expansion is expected to be completed in early 2014.

Office vacancy remains at 20% with very little change. New construction seems to be booming with the new store

The regions largest DRITradition is seeing renewed building Downtown Ft. Pierce continues to attract new business. The

openings as well as an abundance of new Multi-Family development, especially in the student housing market. Additional projects include the new Tallahassee Memorial Health Care Emergency Room (40,000 SF) and Gateway Tallahassee, an urban Walgreens downtown with 25,000 SF of office space on the two floors above the Walgreens. sale price is up 3.3%.

Residential sales are up 24% year over year. The average For the first time in several years, commercial sales are up
over the previous year.

Tallahassee continues to enjoy one of the lowest


unemployment rates in the state at 6.7%.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n q

q p n

n n n

q p p

n p n

n p q

p q p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Ed Schlitt, Realtors
411 N. U.S. Hwy. 1 Fort Pierce, FL 34950 (772) 461-3250

CONTACT
Coldwell Banker Commercial Hartung & Noblin, Inc.
3303 Thomasville Rd. Tallahassee, FL 32308 (850) 386-6160

cbc.flcoldwellbanker.com

24

www.cbcworldwide.com

FL - Tampa Bay

GA - Athens

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Tampa- St. PetersburgClearwater, FL

2,554

2,757,566

1,166,605

$49,596

1,059,081

7.20%

AthensClarke County, GA

1,031

193,495

77,486

$40,278

60,760

7.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Bristol-Myers Squibb announces plans to open a business

support center locally that will bring nearly 600 office jobs with salaries averaging $65,000. Trader Joes and Bass Pro Shops are making plans to enter the region for the first time as the regions economy and jobless rate continue to improve. County MSA in seven years. Home prices rose as supply is dwindling. International and Panama City, Panama with connections to most Latin American cities, which opens the door for new opportunities at the Port of Tampa and the Center for Advanced Medical Learning and Simulation (CAMLS). Prospective Office tenants appear more focused on Tampas Westshore Business District. population growth in the region. Construction continues as five developments are under construction or breaking ground this year. Westshore Plaza in 2014, replacing space formerly occupied by Saks Fifth Ave., who decided to leave the Tampa Bay market.
OFFICE retail
industrial multy-family

The 1 million SF Caterpillar plant is complete and will begin


production November 1st, 2013.

Over 2,000 new residential bedrooms are currently under


construction or are approved and will start shortly in downtown Athens.

March was the biggest month for home sales in the Four Copa Airlines will start direct flights between Tampa

On the southwest side of Athens, over 444,000 SF of Retail


and a 16-screen movie theater have just been completed.

On the north side of Athens, a 170,000 SF of new Retail space


anchored by a 123,000 SF Kroger and fuel station has just been approved and will start construction soon. first class of doctors will be graduating in 2014.

The 58 acre UGA Health Science Campus is now open and the Medical Office space in the Athens area is in high demand
with several hundred thousand SF of new space completed in the past 2 years and over 200,000 SF on the books and under construction.

The Office sector remains soft, particularly in the CBD.

The Apartment market remains strong, thanks to both job and Dicks Sporting Goods announced it will open in Tampas

OFFICE
Vacancy

retail

industrial

multy-family

Vacancy

p q p

q p p

q p p

q p p

p p n

n n n

q p n

p n q

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Tampa
5010 W. Kennedy Blvd. Tampa, FL 33609 (813) 286-2964

CONTACT
Coldwell Banker Commercial Upchurch Realty
2405 W. Broad St. Suite 150 Athens, GA 30606 (706) 354-7870

www.cbcworldwide.com

25

www.upchurchrealtycommercial.com

GA - Atlanta, Greater MSA

GA - Columbus

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

AtlantaSandy SpringsMarietta, GA

8,376

5,521,582

2,028,400

$60,590

2,223,339

8.90%

Columbus, GA-AL

1,937

293,977

117,712

49,432

93,485

9.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The $164 million sale to JP Morgan Asset Management of Ponce City Market, a Mixed-Use $200+ million

a 50% stake in Terminus 100 and 200 with their combined total of 1.2 million SF has been confirmed in the Buckhead submarket. redevelopment of the 2 million SF former Sears Roebuck & Company, is being developed at 675 Ponce de Leon Ave. Atlantas Old Fourth Ward, is under way by co-developers Jamestown Properties & Green St. Properties. Office space at 1.5 million SF: Executive Park Dr., MixedUse Office at 850,000 SF: and Village Capital Partners Redevelopment, East Paces Rd. at Buckhead Ave., Atlanta, Office space at 560,000 SF. construction across the metro Atlanta area in 18 projects. Atlanta Industrial portfolio including at least 1.5 million SF and up to 18 buildings. the period of recovery than the lower tier. Here, flight to quality, an effect of Class A rental concessions, has been a contributing factor.
OFFICE retail
industrial multy-family

The sweetest thing in the Columbus, GA market to report

is job retention. Hostess Brands has restarted its Twinkies plant in Columbus, with 200 jobs retained. Third Infantry Division will remain at Ft. Benning, keeping over 7,000 jobs in the local market, and building off their $3.5 billion investment in the community after the latest round of base realignments and closures. for Workforce Indicators in Economic and Job Growth in 2013.

The US Army announced that the Third Army Brigade of the

Notable new construction planned includes: 100 Northpark

Area Development Magazine marked Columbus as a Top 50 The longest urban white water course in the world opened

Currently, there are 4,735 market rate Apartments under Highwoods Properties, Inc. has begun selling most of its The Atlanta Class A Office market has fared better in

Memorial Day weekend and through the first two months of operation, had over 4,000 paid rafting trips. There has been a corresponding uptick in business interest in the downtown area with new restaurants and businesses opening. sold for $36.6 million to Coro Realty Advisors. They took advantage of a redeveloped center with new Publix, TJ Max and Goodwill Industries leases.

Cross Country Plaza, the first mall in the Columbus market,

OFFICE
Vacancy

retail

industrial

multy-family

Vacancy

q p n

q p p

n q p

n q n

q p q

p p q

q p p

n p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Metro Brokers
3575 Piedmont Rd NE Building 15 Suite 950 Atlanta, GA 30305 (678) 320-4800

CONTACT
Coldwell Banker Commercial Kennon, Parker, Duncan & Key
5670 Whitesville Rd. Columbus, GA 31904 (706) 256-1500

www.cbcmetrobrokers.com

26

www.commericalcolumbusga.com

GA - Dalton / Whitfield County

GA - Hinesville / Fort Stewart

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Dalton, GA

634

134,366

46,872

46,511

64,498

11.60%

HinesvilleFort Stewart, GA

920

73,844

26,115

$48,667

12,145

10.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Engineered Floors, LLC, a carpet manufacturer, will invest Carbondale Business Park is a shovel ready Industrial and Dalton / Whitfield has a labor force of over 1 million

$450 million and create 2,000 new jobs over the next 5 years in Northwest Georgia. Plans are to construct manufacturing and distribution facilities in Whitfield County. Commercial site located on I-75, ready for manufacturing, warehousing and distribution. Publicly owned available lots range from 3 to 50 acres with all utilities. within driving distance and the 3rd largest manufacturing community per capita in Georgia. The Archway Partnership is a University of Georgia outreach platform to deliver a full range of higher education resources to address economic and community development. offers 10 Bachelor Degrees. DSC, an NAIA member school, is beginning intercollegiate athletics in the Fall of 2013 with Mens Basketball, Mens & Womens Tennis, Golf, Cross Country, Womens Volleyball and Competitive Cheerleading.

The Hinesville / Fort Stewart MSA was the third Fastest


Growing MSA in the U.S. in 2011 and 2012.

The Hinesville / Fort Stewart MSA is among the top four Fort Stewart is the largest military installation east of
the Mississippi River and is 5th in the nation in military population. as of July of 2012.

leaders in employment growth rates since pre-recession.

Fort Stewart has a $5.2 billion economic impact on the region Liberty County is centrally located between four deep water
ports, two of which are within 45 minutes of the site. military retiree work force.

Dalton / Whitfield is an Archway Partnership community.

Liberty County has a highly disciplined, motivated and trained

Dalton State College has approximately 6,000 students and

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n p n

q p n

q p p

q p n

q p p

q p p

N/A N/A N/A

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Kinard Realty
704 South Thornton Ave. Dalton, GA 30720 (706) 226-5182

CONTACT
Coldwell Banker Commercial Holtzman Realtors
730 General Stewart Way Hinesville, GA 31313 (912) 408-4040

www.cbcnorthgeorgia.com

27

www.cbcholtzman.com

GA - Lake Oconee Trade Area

GA - Marietta

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Milledgeville, GA

732

55,258

23,615

38,954

14,162

13.30%

AtlantaSandy SpringsMarietta, GA

8,376

5,521,582

2,028,400

60,590

2,223,339

8.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Now under construction: Thrive Senior Living has partnered


with Lake Oconee area residents to elevate the standard of senior living with an innovative new concept in Assisted Living and Memory Care. scheduled to open in Q1 of 2014.

Porsche Cars North America is moving to Hapeville, GA to the


former Ford plant. Plans include: 150,000 SF Office tower, restoration shop, a fine dining restaurant and a 1.6 mile tract for visitors to test drive the new Porsche 911s. Reason being, there is little to no new construction in the pipeline, and activity has increased.

St. Marys new hospital is now under construction and is New construction in the residential market is increasing
along with residential absorption rates on existing homes.

Vacancy is falling in the Office, Industrial and Retail sectors. Buckhead Atlanta is on track. The Mixed-Use development For 2013, the residential Atlanta market continues to

will include 300,000 SF of upscale Retail stores, Restaurants, and Cafes, 100,000 SF of Office and 370 Luxury Residences. improve with gradual increases in home prices and sales. Inventory continues to decline, and foreclosure inventory continues a significant decline. remains strong with unit prices up and cap rates down.

The market in general is slightly improving. Multi-Family The Atlanta Falcons will have a new stadium open for the
2017 season. The plans include a retractable roof and 70,000 seats at a cost of about $1 Billion.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

p q q

N/A N/A N/A

N/A N/A N/A

q p p

q p q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Lake Country
1020 Greensboro Rd. NE Eatonton, GA 31024 (706) 485-0124

CONTACT
Coldwell Banker Commercial NRT - Marietta
37 Johnson Ferry Rd Marietta, GA 30068 (404) 705-1590

www.cbclakecountry.com

28

www.cbcworldwide.com

GA - Middle Georgia

GA - Savannah

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Macon, GA

1,725

232,119

89,721

$47,145

83,398

9.80%

Savannah, GA

1,359

347,453

130,609

$55,567

129,296

8.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

In August, Tractor Supply will occupy their new 750,000 SF


regional distribution facility built along Interstate 75.

The expansion of missions at nearby Robins Air Force Base


has caused unique job growth in the defense contractor sector.

158 new businesses opened Q1 in Chatham County. 26 more businesses opened than closed in Savannah each
month since 2011.

Three very large Apartment complexes are in various stages


of construction in the market area, which combined will add another 1,000 new units in 2013. AFB market.

Savannah Office vacancy rates are less than 10%. Savannah Industrial vacancy rates are less than 12%. Whole Foods 35,000 SF neighborhood center opened more
than a year ahead of schedule.

Entry level homes are again under construction in the Robins Because Macon has been identified as a premier logistics Macon was home to the Mound Builder Indians, and as a
hub, many small and medium size distributors have moved into the market, absorbing large cumulative amounts of space, causing remaining footage to increase in value. result, there are world class examples of their ancient mounds and subterranean meeting rooms in the OCMULGEE National Monument.

The Savannah residential market is now in sellers territory


with less than 6 months of market inventory.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p p p

n n n

p p p

p p p

q p p

q p n

q p n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Eberhardt & Barry
990 Riverside Dr. Macon, GA 31201 (478) 746-8171

CONTACT
Coldwell Banker Commercial Platinum Partners
6349 Abercorn St. Savannah, GA 31405 (912) 790-6999

www.coldwellbankercommercialeb.com

29

www.cbcplatinum.com

HI - Honolulu

ID - Boise, Idaho

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Honolulu, HI

600

910,677

311,782

$67,192

365,718

4.70%

Boise CityNampa, ID

11,788

610,611

224,823

$55,100

232,386

6.10%

MARKET HIGHLIGHTS

Hawaiis economy remains healthier than the continental Two new department stores to enter the Hawaii Market.
Bloomingdales and Saks 5th Ave to open in 2015.

U.S. with tourism posting an all time high in visitor arrivals of 8 million. Total visitor expenditures were $14.3 billion in 2012.

MARKET HIGHLIGHTS Many national retailers are opening their first stores in the Boise market including Trader Joes currently under construction in downtown Boise. Multiple restaurants are opening their first Idaho locations at The Village at Meridian including Toby Keiths I Love This Bar & Grill and Yard House.

Absorption was flat in the first half of 2013, but transaction

As of May 2013, statewide unemployment decreased to 4.7%.

volume remained healthy. Net absorption should improve in the second half of the year as construction is completed on a new Walmart in Meridian and at The Village at Meridian, where a movie theater and numerous restaurants will open in the coming months. much of which is being built with retailer commitments in place. prices rising at the fourth fastest rate in the nation, according to the Federal Housing Finance Agency. Interest rates have remained low and demand outweighs limited supply, creating competition among buyers. manufacturing (such as electronics and industrial equipment). This is a service-driven economy. Growth is not in retail trade jobs, but in information, financial, business, education and health services. about a quarter of these since Q4 2012.
OFFICE retail

Retail construction is on pace for over half a million SF in 2013, The housing market continues to heat up, with Idaho home

Idahos economy continues to migrate away from durable goods

Idaho has added about 36,000 jobs (an increase of 6.1%) and
OFFICE
Vacancy

retail

industrial

multy-family

industrial

multy-family

q q p

p q p

q q n

n n n

Vacancy

q p n

n p p

q p p

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Hawaii
737 Bishop St. Suite 2000 Honolulu, HI 96813 (808) 526-0896

CONTACT
Coldwell Banker Commercial NRT
6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (208) 870.6933

www.cbcpacific.com

30

www.coldwellidaho.com

ID - Coeur dAlene

ID - Eastern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Coeur dAlene, ID

1,245

140,628

53,154

50,618

49,226

7.00%

Pocatello, ID

2,519

120,040

42,871

$40,842

28,908

6.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

There has been new construction in Retail due to regional /


national retailer growth.

The market has new Multi-Family construction. Positive absorption of Office, Retail and Industrial vacancies.

ULTA opened in July 2013 in Pocatello, Idaho (12,240 SF). Vacancy has remained static. Pawn One is remodeling a 11,000 SF space, opening
September 2013.

Auditorium District announced a 43,000 SF building for


Knudsen Corner.

Eastern Idaho is a best kept secret. The market is the gateway to Yellowstone and offers world
class fishing.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

n n n

q p n

q p p

n n q

n n q

q p n

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Schneidmiller Realty
2000 Northwest Blvd. Suite 200 Coeur dAlene, ID 83814 (208) 765-9160

CONTACT
Coldwell Banker Commercial NRT
6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (208) 403-1973

www.cbcsr.com

31

www.coldwellidaho.com

IL - Bloomington / Normal

IL - Champaign / Urbana

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

BloomingtonNormal, IL

1,184

168,918

70,687

$59,825

69,980

7.50%

ChampaignUrbana, IL

1,923

227,494

97,325

$47,851

80,156

8.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The overall market improves through 1st half of 2013. The local jobless rate maintains the lowest levels in the
state, as an indicator of local economic strength.

Major student housing projects have been approved for

The local housing market is up 14%. The Retail market remains healthy. The Office market improved with increased demand. Investment properties are scarce.

Campustown. A 16-story Apartment tower will be built at 4th & Green; a 14-story tower is under construction at 6th & Green; and a 52-unit Apartment building is under construction at 2nd & Green. two 12-story towers will include Apartments, Retail and a Marriott hotel. Construction is slated to take 2 years. Commons dorm project and the Electrical & Computer Engineering building on campus.

Also in Campustown, a Mixed-Use project at 6th & Green with The University of Illinois continues work on its Ikenberry Interest in downtown Champaign remains high. A Hyatt Place
Hotel is under construction at Neil & Church; it will be the first downtown Hotel in decades.

The Retail market continues to improve, with a few new spec


buildings under construction. The relocation of some major car dealerships to north of I-74 has created more Retail opportunities in the North Prospect Retail corridor and the South Neil St. Retail corridor. facility in Rantoul.

Construction continues on Easton-Bells new 800,000 SF


OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

n n n

q p p

n n q

q p n

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Heart of America Realtors
802 S. Eldorado Rd. Bloomington, IL 61704 (309) 662-3377

CONTACT
Coldwell Banker Commercial Devonshire Realty
201 W. Springfield 11th Floor Champaign, IL 61820 (217) 352-7712

www.cbhoacommercial.com

32

www.cbcdr.com

IL - Chicagoland

IN - East Central Indiana

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Chicago Naperville Joliet, ILIN- WI

7,212

9,617,804

3,484,370

$66,775

4,186,171

10.10%

Muncie, IN

393

115,425

48,625

$40,907

42,446

10.50%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The Chicago Industrial market continued to show improvement


through the first half of 2013. There was 4,800,000 SF of positive net absorption and the vacancy rate dropped to 9.1%. Some of the large leases signed in the 1st half of 2013 were by Owens & Miner for 515,000 SF and DHL for 459,000 SF. decreased in the 1st half of 2013. Even with an increase in new construction, the vacancy rate dropped. There are new projects for all three property types currently under construction that will be delivered this year. in 2013 with another 630,000 SF under construction; 324,000 SF of new Office space delivered with another 1.9 million SF under construction; and 887,000 SF of new Retail space built with another 1.5 million SF under construction.

The vacancy rate for Office, Retail and Industrial all

$50 million Student Housing and Retail project was approved. Townsend Corporation purchased a 64,000 SF Office building. High visibility gateway Office in CBD is being revitailized. Residential listing volume remains at historic lows.

There has been 2.265 million SF of new Industrial space built

The residential market continues to improve. Sales of

single family homes have increased and prices are rising. The Apartment market also continues to be strong with low vacancies. However, rents are not increasing at the same pace as they had been in the previous quarters. Values of properties continue to increase, and cap rates are decreasing for most commercial property types.
OFFICE retail
industrial

All commercial property types continue to show improvement.


multy-family

OFFICE
Vacancy

retail

industrial

multy-family

Vacancy

q p p

q p q

q p p

q p n

n n n

n n n

n n n

n n n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Northbrook
2215 Sanders Rd. Northbrook, IL 60062 (847) 313-6500

CONTACT
Coldwell Banker Commercial Lunsford Real Estate
3601 W. Bethel Ave. Muncie, IN 47304 (765) 289-2228

www.cbcworldwide.com

33

www.cblcre.com

IN - Indianapolis

KS - Garden City

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Indianapolis, IN

3,863

1,755,394

690,844

$60,003

787,836

7.90%

Garden City, KS

1,302

42,609

13,697

$43,008

13,558

4.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Office vacancies have held steady through the first two

quarters of 2013. The overall market has stalled at 9.3%, with suburban vacancies lower than CBD. 109,000 SF on the northside of Indianapolis.

Geico signs the largest lease to start the year. Geico leased Industrial vacancy rates have lost momentum as they are
staying level with 2012 year end at 6.7%. But, with 616,000 SF of new space delivered, absorption has increased to maintain those levels. Indianapolis is scheduled to deliver an additional 818,000 SF this year. the first 6 months of the year, but leveled at year end 2012 to stay at 7.3%. Rates are dropping slightly to encourage new tenants to take hold in the Indianapolis market. this year. New deliveries include, a new tower being built by Flaherty and Collins, along with several other projects, makes Multi-Family standout from the rest. Central Indiana. Companies and corporations are still utilizing planning and analysis extensively before leaping into the market, but after the last four years, it may be the best practice.
OFFICE
Vacancy

Menards opened in May of 2013. The trade area is expanding. There is a high need for Multi-Family product. There is a shortage of homes. This area is showing signs of becoming a very progressive
market.

This market is the Retail and oil and gas center of Southwest KS.

The trend is clear, Retail vacancy rates moved slightly over Multi-Family in the CBD has been the strongest sector

Overall, the haze of the recession seems to be lifting in

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n n q

n p n

p p p

q p p

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Realty Services
8888 Keystone Crossing Suite 120 Indianapolis, IN 46240 (317) 249-9000

CONTACT
Coldwell Banker Commercial The Real Estate Shoppe, Inc.
1135 College Dr. Suite E Garden City, KS 67846 (620) 275-7421

www.cbcrs.com

34

www.cbcworldwide.com

KS - Kansas City Meto Area

KY - Lexington

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Kansas City, MO-KS

7,857

2,076,653

819,900

$60,301

914,989

6.60%

Lexington, KY

1,479

473,956

202,332

$53,106

220,981

6.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Kansas has lowered income taxes on small businesses. Nonresidential building permits in Johnson County are up
79% from last year.

A new 500,000 SF Retail development is scheduled to break


ground in fall 2014.

Several Retail projects are underway in the Metro area. Federal sequestration is being watched closely for negative
economic impact.

The Apartment market continues to be hot. Total private employment in the Metro area is up 4,500.

Class A Apartments sell for record $120,000 per unit. The Lexington-Fayette unemployment rate dropped to 6%. The housing market is up over 20% in 2013. Toyota Motor Mfg. announced a new line for the Lexus ES
model.

Centre Point TIF funding was approved for new CBD Office
and Hotel.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p p

q p p

q p p

q p p

p p q

N/A N/A N/A

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Fishman & Company
1948 E. Santa Fe Olathe, KS 66062 (913) 782-9000

CONTACT
Coldwell Banker Commercial McMahan Co.
444 Lewis Hargett Circle Suite 240 Lexington, KY 40503 (859) 219-0080

www.cbcfishman.com

35

www.cbcworldwide.com

KY - Louisville Metro

KY - Southern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Louisville Jefferson County, KY-IN

4,135

1,263,217

506,857

$54,741

549,941

8.50%

Bowling Green, KY

848

121,646

50,840

$46,805

50,727

8.10%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Louisvilles housing market is second in the nation (Forbes);

Louisville is second in nation in job growth (U.S. Bureau of Labor Statistics). New job creators: UPS National Airhub, Ford plants, G.E. Appliance Park, YUM! Brands, medical industry (Humana and U of L Nucleus Innovation Park), and Amazon. com. average cap rates range from 6-6.5% for Class A to 8.5-9% for performing Class C. Overall occupancy increased to 96% for Class A, 92% for Class B and 95% for Class C. A significant number of sales closed in 2011 and 2012. New construction is underway. rebounds. Newcomers such as Nike Outlet, Trader Joes, Urban Outfitters and, in 2013, Cabelas, a new Cinemark Theatre, Nordstrom Rack and others are leading the way.

National Corvette Museum began construction on a 184 Acre


High Performance Dual Raceway Motorsports Park. and Bed Bath & Beyond.

Big-box retailers are expanding in the area with a new Meijer Vacancy rates have dropped as new businesses open or
expand into existing facilities.

Investor interest in Louisville Multi-Family remains strong;

Residential existing and new construction home sales are up. Multi-Family construction is at an all time high with over
1,500 units currently under construction. expand in the region.

Louisville Retail continues to recover as the national economy Louisville Industrial has steady net absorption, with growth

Automobile Manufacturing and ancillary business continue to

factors such as ecommerce distribution, shipping temperature sensitive pharmaceuticals, and supplying the two Ford plants. Vacancy is below 7%. Developers are considering spec buildings. is uneven: for Class A, 7.8% vacancy in east suburbs, 16.1% downtown. Class B/C is 17.4% overall.
OFFICE retail
industrial multy-family

The Louisville Office market has stabilized, but occupancy

OFFICE
Vacancy

retail

industrial

multy-family

Vacancy

n n n

q p p

q p n

q p p

q p p

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial McMahan Co.
10600 Timberwood Circle Suite 7 Louisville, KY 40223 (502) 425-8800

CONTACT
Coldwell Banker Commercial Legacy Real Estate Group
2435 Fitzgerald Industral Dr. Suite 102 Bowling Green, KY 42104 (270) 781-3844

www.cbcworldwide.com

36

www.cbclegacy.com

LA - Lafayette

LA - New Orleans

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Lafayette, LA

1,010

264,966

101,487

$54,248

139,997

6.00%

New OrleansMetairieKenner, LA

3,153

1,230,886

469,474

$58,413

458,428

7.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The market continues to grow in all commercial sectors in New Industrial parks continue to come on line with both
speculative and pre-sold buildings. first half of the year.

2013. Closed transactions are on track to exceed last years great year.

Costco is opening its first Louisiana location in New Orleans


this fall.

Office vacancy continues to increase as large energy groups The $2.2 Billion University Medical Center & VA Hospital
complex is well underway on 67 acres of MidCity New Orleans.

like Shell and Chevron leave the Central Business District for Houston and suburban Office parks.

The demand for both Office and Retail has increased in the Residential new construction starts are at a record pace, and
days on the market for both new and existing homes are at record lows.

Residential supply has dropped to below 2006 levels, and

Strong ties to both offshore and land exploration of oil and

property values should begin to appreciate given increased demand. moves away from the energy sector which has moved west and north in the past few decades. did prior to Hurricane Katrina.

natural gas drives the market to new levels. Expansions of existing facilities and new manufacturing facilities continue to add high paying jobs and keep unemployment at or near zero, statistically adjusted. has increased the number of doctors and medical personnel in the market, which has increased the luxury residential sales.

New Orleans is repositioning itself as a technology hub as it New Orleans has more Restaurants open in 2013 than they

The Medical Office market along with new hospital facilities

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p p

q p p

q p p

p q n

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Pelican Real Estate
806 E St.Mary Blvd. Lafayette, LA 70503 (337) 233-9541

CONTACT
Coldwell Banker Commercial TEC Realtors
701 Loyola Ave. Suite 401 New Orleans, LA 70150 (504) 566-1777

www.cbcpelican.com

37

www.cbctec.com

ME - Midcoast and Southern

MI - Northern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Rockland, ME

366

40,753

23,744

$52,132

15,971

5.80%

Traverse City, MI

1,696

142,428

55,301

51,430

53,561

7.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Retail development is on the rise with the new Super Wal Due to the continuing national media exposure, Midcoast 170,000 SF Retail development will be completed in
November, 2013.

Mart. Tractor Supply development is scheduled for opening in November of 2013. Maine is enjoying an influx of people seeking to move into the immediate area, resulting in our local economy seeing improvements over the previous twelve month period.

The market appears to have a nice balance of supply and


demand.

There is continued growth in new construction for user


buildings.

The population continues to grow. A very good Residential market provides consumer
confidence.

Number of residential units sold so far this year is up 21.8%. The Midcoast of Maine continues to draw national media
attention with national TV coverage of a number of festival events, lifestyle and oceanfront location. of 114,000 residents.

There is continued growth in the Healthcare industry. The Northern Michigan tourism market continues to expand.

Many seem to miss the fact that the trade area is comprised

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n q

q p p

q p p

q p n

q p n

q p n

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial SoundVest Properties
147 Park St. Rockland, ME 04841 (207) 596-7478

CONTACT
Coldwell Banker Commercial Schmidt, Realtors
522 E. Front St. Traverse City, MI 49686 (231) 929-2300

www.soundvest.com

38

www.cbgreatlakescommercial.com

MI - Western

MN - Central

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

HollandGrand Haven, MI

566

262,667

92,703

60,218

111,547

7.20%

St. Cloud, MN

1,753

189,957

73,818

$54,959

91,676

5.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Grand Rapids welcomes Cabelas as the latest new retailer


giant.

Construction is nearing completion for Phase I of the Herb


Brooks National Hockey & Event Center.

Vacant Industrial inventory of leased and purchased


properties is at a 5 year low.

Transactional activity is picking up in all property sectors.

Industrial expansions are up by 50% from 2012, and new


home construction and lot sales match 2006 levels. returned to the pre-slump level of 2007. Industrial markets.

There is strong demand from buyers wanting to secure top locations and to capitalize on low interest rates. and several are currently under construction. Additionally, many institutional building projects are in progress. and home prices are rising. locations.

Numerous Multi-Family buildings were recently completed, The residential housing market is strong. Inventory is low, The leasing market is picking up with tenants securing top Central MN market consists of 200,000 +/- MSA. Major
employment sectors include: Manufacturing, Agricultural, Education and Medical.

Home sales are double that of 2011, and prices have nearly The Office market has not enjoyed the recovery of Retail and The West portion of Michigan is fortunate to have a great mix
of industry, tourism, and agriculture spurring its economy. Employment is at a record high.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n p n

q q p

q p p

p p p

q p p

q p n

q p n

p q p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Schmidt, Realtors
456 E. 16th St. Holland, MI 49423 (616) 396-8649

CONTACT
Coldwell Banker Commercial Orion Real Estate
630 First St. S. Waite Park, MN 56387 (320) 251-1177

www.cbgreatlakescommercial.com

39

www.cbcorion.com

MN - Mankato

MN - Minneapolis Metro

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

MankatoNorth Mankato, MN

1,205

93,650

39,391

$51,381

49,122

4.50%

MinneapolisSt. PaulBloomington, MN-WI

6,063

3,286,547

1,267,913

$71,301

1,695,892

5.10%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Major medical office expansion continues. Multi-family developments are adding 100+ units. Retail industry continues to show strength. Transportation network continues to improve with extension

Downtown: Ryan Companies is negotiating terms of a

proposed $400 million Mixed-Use development that complements the new Vikings Stadium planned for citys downtown. into final stretches of construction on the $125 million promenade of Wayzata.

Redevelopment: Presbyterian Homes & Services heads Jobs: 500 high skilled jobs will be created over 5 years

of County Road 17 and connecting County Road 12 to Highway 83. moving into the area.

Regional growth with major national retailers expanding and

as Emerson Electric Co. will convert the former ADC Telecommunications site in Shakopee into an engineering and manufacturing center. states largest Industrial building that sits on 122 acres in Fridley. Plans for the Superfund site is for a $140 million sprawling business campus. in Dakota County, developers are moving ahead with new Industrial building projects.

Industrial: Hyde Development finalized the purchase of the Development: With the tightening supply of Industrial space Recovery: Recently released residential permit statistics

show the new home industry in the Twin Cities continues to improve. Monthly and year-to-date permits and planned units are at their highest level since 2007. Year to date permits are up by 37%, while planned units are 26% higher.
OFFICE retail
industrial multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p n

q p n

q p n

Vacancy

q p p

q p q

q p p

q
N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Fisher Group
1961 Premier Drive, Ste. 404 Mankato, MN 56001 507-625-4715

CONTACT
Coldwell Banker Commercial Griffin Companies
1221 Nicollet Ave. S. Suite 300 Minneapolis, MN 55403 (612) 904-7833

www.cbcfishergroup.com

40

www.cbcgriffin.com

MS - Gulfport / Biloxi

MO - St. Joseph

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

GulfportBiloxi, MS

1,503

240,010

94,854

$53,669

86,844

9.00%

St. Joseph, MO-KS

1,661

127,090

51,821

$44,333

48,146

5.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

A new minor league baseball stadium was approved.

The Biloxi City Council passed resolution calling for the city to purchase a $21 million general obligation bond toward construction a multi-million dollar on land leased from the Beau Rivage Resort & Casino. The 7,000-seat stadium would cost about $35 million and will be constructed in what is now the employee parking lot across the street from the casino parking garage.

St. Joseph is located just 35 minutes north of the Kansas

City International Airport with access to I-29, a major northsouth Interstate Highway, providing a corridor between Mexico and Canada and US Hwy 36, a major east-west route thru Northern Missouri. Industry with 5 of the major companies located here. building a 260,000 SF distribution center.

This market is located in the heart of the Life Sciences Boehringer Ingelheim Vetmedica is still expanding and The new Eastowne Business Park is complete and offering Rosecrans Memorial Airport, which serves civilian and
excellent Industrial building sites. A 50,000 SF shell building was completed in 2012. military needs, is located 3 miles west of the city. It boasts ILS and GPS approach runways and provides capacity for any size aircraft. Burlington Northern-Santa Fe Railway to provide direct access to all parts of North America.

New casinos are on the horizon. New construction is picking up.

St. Joseph is served by the Union Pacific Railway and the

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n q

q p n

q p q

q p n

q p q

q p q

q p q

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Alfonso Realty, LLC
625 Courthouse Rd. Gulfport, MS 39507 (228) 596-4471

CONTACT
Coldwell Banker Commercial General Properties
2700 N. Belt Hwy. St. Joseph, MO 64506 (816) 364-2700

www.cbcworldwide.com

41

www.cbcommercialgeneral.com

MT - Billings

NE - Lincoln

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Billings, MT

4,683

155,673

63,905

$53,585

69,806

3.90%

Lincoln, NE

1,414

299,958

126,751

$55,280

142,514

4.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Three new hotels are under construction; over 300,000 SF of


Retail is under construction; nearly 60 acres of Multi-Family Land is under development. energy related activity in the Bakken Formation.

Pinnacle Bank Arena will be completed in Fall 2013

Vacancy in Industrial and Multi-Family is falling due to Residential sales of existing inventory are up over 20% YTD. Two new car dealerships are under construction with new
truck sales hitting record highs.

and will serve as a center point for the West Haymarket redevelopment project. Hotels, Retail, Offices, and upscale Residential Housing are currently being developed in the 400 surrounding acres.

CNBCs Top States for Business 2013 ranks Nebraska as #4. Lincoln was named the happiest place in the United States by
the 2012 Gallup-Healthways Well-Being Index.

A new 2 story library is opening in 2013. A new 40 acre FedEx Hub is under construction. The unemployment rate for the area is 3.9%.

Memorial Stadium announced an expansion of the east

stadium, which will allow for around 3,000 more fans to obtain season tickets to Nebraska football. Memorial Stadium is the third largest city in Nebraska on game days. research campus being developed by the University of Nebraska-Lincoln and is currently under construction. It will contain 2 million SF of space with 500,000 SF completed within 5 years.

The Nebraska Innovation Campus is a public and private

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n q

q p n

q p p

q p p

q p n

q p n

q p n

q p n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial CBS
1215 24th St.West Billings, MT 59102 (406) 656-2001

CONTACT
Coldwell Banker Commercial Thompson Realty Group
620 N 48th St. Suite 101 Lincoln, NE 68504 (402) 421-7700

www.cbcmontana.com

42

www.cbcthompson.com

NV - Reno / Sparks

NJ - Central & Northern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

RenoSparks, NV

6,606

420,676

164,527

$61,308

208,488

9.80%

NY- Northern NJ- Long Island

6,726

19,124,092

7,086,346

$65,253

7,711,074

8.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Galaxy Imax Theater is set to open Q4 at Legends Sparks


Marina.

Bayer Corporation moved in to the former Bell Labs location


in Whippany, NJ.

Fallas Paredes opened in 78,000 SF. H & M to open in Meadowood Mall. Industrial speculative construction returned to the market

Vacancy rates have been declining slightly over the last 3

as SJS CRE of Deerfield, IL broke ground on a 524,000 SF Warehouse in the Tahoe Reno Industrial Center, the first of its kind since 2008. in Multi-Family vacancy.

quarters as landlords are becoming more flexible with how they are positioning their assets. There have been nonstandard Office users such as Charter Schools and Day Cares locating in Office buildings.

A lack of homes under $200,000 is causing a slight decrease

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q n n

q p n

q p n

q n p

q p q

q p p

N/A N/A N/A

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Clay & Associates, Inc
5011 Meadowood Circle Suite 201 Reno, NV 89502 (775) 829-5900

CONTACT
Coldwell Banker Commercial Feist & Feist Realty Corp.
180 Mount Airy Rd. Basking Ridge, NJ 07920 (908) 696-1500

www.cbcreno.com

43

www.feistandfeist.com

NJ - Morris County

NJ - Northern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

NY- Northern NJ- Long Island

6,726

19,124,092

7,086,346

$65,253

7,711,074

8.20%

NY- Northern NJ- Long Island

6,726

19,124,092

7,086,346

$65,253

7,711,074

8.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

With so many telecommuters and such a high vacancy level New construction is not popular. There are many existing
buildings that can be purchased for a fraction of the construction costs of a new building. sell their homes at todays market prices.

of Class A Office space, there are quite a few good deals out there.

AMAZON to open a 950,000 SF warehouse in Robbinsville NJ. The slowly improving economy is beginning to reduce
vacancy rates in some markets.

There are many new Multi-Family projects which are shovel


ready or currently under construction. increase substantially over 2012.

The Residential market is hot as sellers are finally willing to North Jersey is a great location with its close proximity to
New York and nice suburban neighborhoods. The commercial market is hot with many commercial tenants looking for opportunities to own at the lower prices. The market may have bottomed out and is on the rise. pool of talented people. It is a great place to live and work.

Residential sale prices and the number of sold units have The State of New Jersey is giving incentives to attract new
business to the state and retain those companies who are currently doing business here. major bridges.

Contractors have won bids to repair several of New Jerseys

Morris County has a good demographic mix and a great labor

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p q q

q p q

p q q

q p p

q p q

p q q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Morris Plains
1767 Route 10 Morris Plains, NJ 07950 (973) 267-3030

CONTACT
Coldwell Banker Commercial NRT - Madison
175 Park Avenue Madison, New Jersey 07940 (973) 407-5480

www.cbcworldwide.com

44

www.cbcnrtnewjersey.com

NM - Albuquerque / Bernalillo County

NY - Long Island

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Albuquerque, NM

9,288

863,887

333,497

$49,381

313,234

7.80%

NY- Northern NJ- Long Island

6,726

19,124,092

7,086,346

$65,253

7,711,074

8.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Gordmans recently opened it first store in Albuquerque at


Cottonwood Commons in northwest Albuquerque. sales factor option for corporate income taxes.

Suffolk Countys largest Office lease deal was made with

The New Mexico Legislature recently approved a single NM Legislature recently approved a reduction on the
corporate income tax rate to 5.9% over the next 5 years.

Reliance First Capital, LLC, 29,080 SF at 201 Old Country Rd., Melville. Bank taking 21,334 SF at Two Jericho Plaza, Jericho.

Nassau Countys largest Office lease deal was Valley National Suffolk Countys largest Industrial lease deal was with
GPlex Direct Mail Services for 33,800 SF at 194 Morris Ave., Holtsville. American Security Shredding for 88,000 SF at 3563 Maple Ct., Oceanside. Seaview Commerce Center in Port Washington. SF Woodlands Office Park in Hauppauge.

Eclipse Aviation will deliver its new Eclipse 550 in Q3 of 2013. Retail continues to come back with new entries into the
market, including the first IMAX Theatre. in early 2014.

Nassau Countys largest Industrial lease deal was with

Virgin Galactic will start commercial flights into outer space

Long Islands largest Industrial sale YTD is the 160,472 SF The most notable Long Island Office Sale YTD was a 130,000

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q p n

n n n

p n n

q p q

q p p

q p p

p p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Las Colinas
4801 Lang Ave. NE Suite 100 Albuquerque, NM 87109 (505) 897-7227

CONTACT
Coldwell Banker Commercial Rosner & Associates
3124 Expressway Dr. S Islandia, NY 11749 (631) 232-4400

www.lcrealty.com

45

www.cbcli.com

NY - New York City

NC - Greensboro / Guilford County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

NY- Northern NJ- Long Island

6,726

19,124,092

7,086,346

$65,253

7,711,074

8.20%

GreensboroHigh Point, NC

2,003

718,798

293,024

48,894

327,852

9.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Notable Office lease signings in 2013: Simpson Thacher & The Office vacancy rate in the New York City market area
increased to 7.3% at the end of Q2 2013. was negative 750,558 SF in Q2 2013.

Bartlett LLP 522,862 SF (Midtown); Yahoo! Inc. 176,201 SF (Midtown); Facebook 156,948 SF (Midtown); Morgan Stanley 148,421 SF (Midtown); AppNexus 128,605 SF (Midtown).

Investors are starting to look again for investment


properties.

Net absorption for the overall New York City Office market The average quoted Office rate within the class A sector was
$57.42 at the end of Q2 2013, class B $47.27, and class C rates were $40.58. to 2012. In the first three months of 2013, the market saw 13 Office sales transactions with a total volume of $2,234,277,000.

The Retail market seems to be improving. New Multi-Family development projects are underway. Some new businesses are beginning to move to the Triad
area.

The healthcare industry continues to grow and expand


facilities throughout the Triad. points.

Home sales are up and inventory is short in some price

Total Office building sales activity in 2013 was up compared Total Office inventory in the New York City market area

amounted to 547,270,438 SF in 3,916 buildings at the end of Q2 2013.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p q p

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

n n n

q p q

q q n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Alliance
1430 Broadway 9th Floor New York, NY 10018 (212) 344-0300

CONTACT
Coldwell Banker Commercial Triad, Realtors
1505 Westover Terr. Greensboro, NC 27403 (336) 288-8957

www.cbcalliance.com

46

www.cbctriad.com

NC - Piedmont Triad

NC - Wilmington

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

GreensboroHigh Point, NC

2,003

718,798

293,024

48,894

327,852

9.70%

Wilmington, NC

1,924

357,853

151,270

50,107

126,764

9.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

VA Clinic to open in Kernersville. FedEx Ground is expanding. Ashley Furniture is expanding in Davie County. Ruger is expanding to Mayodan, bringing 500 jobs. The residential market is on the rise. This area offers perfect logistics for the East Coast.

Wilmington Dermatology moves to Mayfaire. Retail occupancy rates on the rise, as there is no new
construction.

More apartments are being built, especially in the student


housing sector. price.

Residential sales are moving up along with average sales Interest is growing in most sectors with the exception of
Warehouse and Industrial.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n n n

n n n

n n n

q p p

q p p

n n q

n p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Triad, Realtors
285 S. Stratford Rd. Suite 251 Winston-Salem, NC 27103 (336) 748-5363

CONTACT
Coldwell Banker Commercial Sun Coast Partners
1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403 (910) 350-0925

www.cbctriad.com

47

www.cbcsuncoast.com

ND - Fargo / Moorhead

OH - Cincinnati

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Fargo, NDMN

2,810

202,280

86,119

$53,008

105,993

3.60%

Cincinnati, OH

4,398

2,179,105

856,456

$58,530

932,959

7.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Manufacturing of agricultural equipment remains a large


export for this area.

Cincinnati ranked eighth among the largest U.S. metro

Due to the increase in residential building, building material


companies have needed more space which in turn has lowered vacancy rates.

areas for corporate facility expansion and new construction projects for 2012, according to Site Selection Magazine. for the third consecutive year. The results are based on 39 airport service and product factors, including checking, arrivals, transfers and gate departures, gathered from 12 million passengers and covering 385 airports. a $54 million Mixed-Use development near its campus.

CVG was named the best regional airport in North America

Developers continue to build Multi-Family properties in

Fargo / Moorhead. The vacancy rate is approximately 3%, and the market is adding about 1,000 units this year.

New home construction continues to be strong. The market is seeing some positive effects of the oil boom

Xavier University will start construction on University Station, Kroger has signed on to be the anchor tenant at the new
Oakley Station development. The 145,000 SF store will be the largest Kroger in the country. Chester Hospital.

out in the western portion of North Dakota. Investors look at the Fargo area as a stable economy and are always looking to invest here. to see growth in that sector.

Fargo-Moorhead is a regional hub for Medical and continues

UC Health plans to build a $135 million tower to expand West Cincinnati will be the new home of a 64 acre Mixed-Use
development known as Liberty Center. Construction of the 1.1 million SF project will begin this fall and will be complete in the spring of 2015.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n n n

q p p

q p p

q p q

q p q

p q p

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial First Realty
2731 12th Ave. S. Fargo, ND 58106 (701) 237-3369

CONTACT
Coldwell Banker Commercial Reliant Realty
1125 West 8th St. Suite 200 Cincinnati, OH 45203 (513) 241-8725

www.cbcfirstrealty.com

48

www.cbcreliantrealty.com

OH - Cleveland

OK - Oklahoma City Metro

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

ClevelandElyriaMentor, OH

2,004

2,090,148

838,741

54,591

954,471

7.70%

Oklahoma City, OK

5,518

1,237,539

500,869

$57,129

502,994

5.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The Cleveland Medical Mart became the Global Center for


Health Innovations.

Clevelands Retail vacancy is 8.5% (Down). Ernst & Young Towers 27,600 SF was leased. Western Reserve Partners expanded and renewed its lease. Clevelands Industrial vacancy is down to 8.7%. Rock Caesars Ohio acquired the Higbee Building and is
planning a walkway.

A new outlet mall (2 years old) is adding 34,000 SF of space. Vacancy is falling because of the strong aerospace and
energy industry. city in the US.

OKC has more construction cranes operating now than any B and C Apartments have become hot. Most sectors have limited inventory. OKC has the highest occupancy rate in Hotel rooms in the
nation with the exception of Oahu, HI.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n q q

q n n

q p p

q p p

q p p

n n n

q p p

q p n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Hunter Realty
25101 Chagrin Blvd., Suite 170 Cleveland, OH 44122 (216) 831-2911

CONTACT
Coldwell Banker Commercial Hocker & Associates
4323 Classen Blvd. Suite 100 Oklahoma City, OK 73118 (405) 840-4545

www.cbchunter.com

49

www.hocker.com

OK - Tulsa, Oklahoma

OR - Portland

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Tulsa, OK

6,281

935,612

372,484

55,286

395,237

5.90%

PortlandVancouverBeaverton, OR-WA

6,684

2,261,246

878,239

$58,563

952,611

7.50%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Local expansions added 7,715 new jobs. Baker Hughes had While Warehouse vacancy is falling, the supply of Office
space is rising.

a $40 million expansion. Flight Safety opened a $42 million simulator plant. $350 million in private funding will be invested in Downtown Tulsa.

Office building sales activity in 2013 was up over 2012 with


cap rates averaging 7.75%.

Salesforce.com leased 116,500 SF at Synopsys Technology

Park, accounting for nearly 50% of the quarters absorption total. SF in the market.

New commercial construction, with the exception of expansion of existing facilities, is at a stand still. Residential sales have increased 11.26% over 2012. Supply 4,100 more new jobs exceeding a $50,000 annual salary Tulsa is a top city for low cost of living as it is #1 in the
country for lowest cost of rent. Plan. of inventory is down 27.45%. New construction sales for 2012 was 1,443. were created. Bank financing is increasing in oil and gas production.

Retail vacancy remained stable at 5.5% with over 104 million K-Mart closed two stores, and Orchard Supply Hardware
opened two new locations of approximately 40,000 SF each. SF with the moving out of Georgia-Pacific, Sealy Stearns and Benson Industries Inc. from 204,550 SF to 402,250 SF in Phase II.

The Industrial market faced negative absorption of 756,798

Georgia Pacific relocated within Rivergate Corporate Center

There is a new emphasis on the Arkansas River Development

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p p q

q q n

q q n

q q n

q q p

n p p

p q p

q q n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Select
4408 S. Harvard Ave. Tulsa, OK 74135 (918) 712-4311

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

www.cbcworldwide.com

50

www.cbcre.com

OR - Salem

OR - Southern

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Salem, OR

1,925

399,131

148,354

$49,102

119,269

8.70%

Medford, OR

2,785

201,887

80,376

$48,826

74,943

10.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

First American Title Company and Waddell & Reed executed


leases in The Meridian for new commercial space.

Several new medical Office projects are under construction


including Boulder Creek and PacTrust Medical in South Salem. Salems regional mall.

Pacific Retirement Services is moving to Downtown Medford. Retailers are leasing up Class A sites. Retail vacancy is
decreasing.

Ross Dress for Less opened in Salem Center, downtown Panera Bread will be under construction soon as a new South
Salem restaurant with a drive-thru.

Owner / user building construction is on the upswing. Residential subdivision Land is being purchased. Economic optimism is increasing CRE activity. The Southern Oregon wine industry is becoming nationally
recognized.

Power Nissan auto dealership will be relocating from Market St. to Mission St. / Hwy 22 prior to year-end. The downtown Statesman Journal facility is available for sale
as printing processes are moved out of town. They will be looking for new office space in the downtown area.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p q

q n q

q p q

N/A N/A N/A

n n n

q p p

n n q

q p p

Absorption

Absorption

Rental Rates

Rental Rates

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

CONTACT
Coldwell Banker Commercial NW
1744 E. McAndrews Rd. Suite J Medford, OR 97504 (541) 772-1168

www.cbcre.com

51

www.cbcommercialnw.com

PA - Northeastern

PA - Philadelphia, Northern Suburbs

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

ScrantonWilkesBarre, PA

1,747

549,920

233,775

45,396

245,015

9.50%

PhiladelphiaCamdenWilmington, PA-NJ-DE

4,630

5,979,545

2,318,224

$65,847

2,533,973

8.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Commonwealth Health Systems is purchasing properties and


businesses in the area. center.

Mohegan Sun Casino is building a large hotel and convention Development of the Retail market continues to expand in
Luzerne County.

Medical Office space absorption is up. Center City Philadelphia activity is fairly strong, but as you go
north into suburbs, leasing and sales activity is slow.

Tertiary markets like Bucks County, just north of

Philadelphia, are negatively affected by slow growth of small businesses which are reluctant to hire or expand space.

Prices are moderately rising, and inventory is declining as


the market in this area improves.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q
N/A

N/A N/A N/A

q n p

p n q

q p q

q p n

n n
N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Town & Country
651 Northern Blvd. Clarks Summit, PA 18411 (570) 587-5500

CONTACT
Coldwell Banker Commercial CBH
1094 Second St. Pike Richboro, PA 18913 (215) 357-2880

www.cbcworldwide.com

52

www.cbhcommercial.com

PA - Southwestern

SC - Charleston

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Pittsburgh, PA

5,280

2,355,582

991,049

$52,255

1,064,896

7.20%

CharlestonNorth Charleston, SC

2,591

665,272

262,007

$57,059

253,170

7.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The Office, Retail and Multil-Family vacancy rates in this area


are lower than the national average.

Boeing continues to show long term commitment to

Charleston in production, engineering and IT functions. water ports are favoring Charleston over other Southeastern markets. to new development.

Marcellus Shale industry has helped keep the market strong. Office, Retail, Multi-Family and industrial developments are
strong in this market.

Manufacturing and Distribution companies that rely on deep Office demand is outpacing the local supply, which may lead There are very few high cap investment properties. The residential market is looking at double digit price
population growth projections.

Pittsburgh was not hit as hard as other areas by the


downturn in the economy. Now that the economy is recovering, this market is even stronger.

increases and there has been another development boom.

Charleston continues to appear in the top tier of per capita

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p n

q p p

q p p

q p p

q n p

q q p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial NRT - Pittsburgh
9600 Perry Hwy. Suite 200 Pittsburgh, PA 15237 (412) 548-1064

CONTACT
Coldwell Banker Commercial Atlantic International, Inc.
3506 W. Montague Ave. Suite 200 Charleston, SC 29418 (843) 744-9877

www.cbcnrtpittsburgh.com

53

www.cbcatlantic.com

SC - Columbia

SC - Greenville

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Columbia, SC

3,701

751,082

300,796

$52,689

287,817

7.90%

GreenvilleMauldinEasley, SC

2,002

644,419

263,044

$49,487

288,021

7.40%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Major tenant move-ins in 2013: Dana Corp 152,945 SF, Price


Waterhouse 61,433SF, and Golfsmith 23,500 SF.

Greenville was selected for first Cabelas location in the

Vacancies are falling due to little to no new construction

across market segments. This, coupled with rates falling, has led to existing spaces being absorbed. SF; Office - none; Retail - 3 buildings totaling 91,045 SF.

Southeast, to be located at Magnolia Park. Tenants include Regal Cinemas, Rooms To Go and many other food and entertainment operations. expansion to its plant. Also, a 400,000 SF Warehouse operation is planned adjacent to Charleston Inland Port.

BMW announced another sales record and a $900 million Further Hotel development is planned for CBD. Multi-Family development continues downtown with 160 An 800 acre Industrial site on south side of town is being

New Construction in 2013: Industrial - one building of 3000 Residential housing has seen sales increase, primarily with The biggest change in the Columbia market in 2013 is
new construction as homes are being built for $60-$80 PSF, and resale prices are down 10 -30%. This has caused sales units to increase 20% +/-. expansion at the University of South Carolina and an influx of student housing. center for Basic Combat Training. The fort trains 50% of the Armys basic training load, over 36,000 basic training and 8,000 advanced individual training soldiers every year.

units under construction in West End and another 200 units in the planning and approval stage. touted as a premier development site in the state. State site certification will be complete during Q3. Brothers and Anthropologie.

Ft. Jackson in Columbia is the US Armys main production

Downtown Main St. Retail is buoyed by the arrival of Brooks

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p q

n q q

q p q

N/A N/A N/A

q p n

q p q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial United, Realtors
1711 Gervais St. Suite 300 Columbia, SC 29201 (803) 799-4663

CONTACT
Coldwell Banker Commercial Caine
117 Williams St. Greenville, SC 29681 (864) 250-2800

www.cbccarolinas.com

54

www.cbccaine.com

SC - Myrtle Beach

SC - Spartanburg

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Myrtle BeachConwayNorth Myrtle Beach, SC

1,134

266,384

110,858

43,184

112,291

8.60%

GreenvilleMauldinEasley, SC

2,002

644,419

263,044

$49,487

288,021

7.40%

MARKET HIGHLIGHTS

A new Target opened at 544 and 17 bypass. The Tanger Outlet


was expanded. 12,000 new college bedrooms were added at Coastal Carolina University. Additional new openings include: 20,000 SF Golfsmith store at Coastal Grande; 14,000 SF CVS at Carolina Forest; 2 new Bojangles, one at Carolina Forest and another at TPC Prince Creek.

The SC Ports Authority held the groundbreaking for the Inland

MARKET HIGHLIGHTS

Port in Greer with completion expected fall of 2013. The $25 million center will take containers from the port of Charleston and deliver them by rail to the I-85 corridor and act as a distribution point to truck and air freight companies. interest in the Industrial market, where inventory is low. Greer Economic Development and Spartanburg Economic Futures Group have had close to 200 inquiries and over 50 visits due to last years announcement of the Inland Port and BMW expansion. Spartanburg market is the sale of Amazon Distribution. The 1,015,740 SF Industrial building sold for $63,300,000, or $62.32 PSF (6.22% cap rate). Amazon continues to hire, adding another 100 jobs this fall. the completion of the Magnolia Lofts, a $2.7 million, 27 unit Apartment building, and construction is underway in the renovation of the 63 year old Schuyler Building, a 13 story building that will have 2 fitness centers, a penthouse, and coffee shops and Retail to complement the apartments. to provide expertise and consulting in the planning of the mixed income housing and Mixed-use commercial redevelopment of the Citys northern downtown area.
OFFICE
Vacancy

The Inland Port, along with BMW and Michelin, has created great

Vacancy is down due to better demand and very little new construction. New $200 million Myrtle Beach International Airport
terminal has now finally opened. are improving.

The largest transaction that occurred within the last year in the

Foreclosures are clearing out, and standing inventory prices Seller attitudes are better. The golf market is still soft, but improving. The market is home to Myrtle Manor, a reality TV show on
TLC Network.

The downtown Apartment market continues to thrive with

Purpose Built Communities teams up with various organizations


OFFICE
Vacancy

retail

industrial

multy-family

retail

industrial

multy-family

q p p

q p p

q p p

q p p

q p n

n n q

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Chicora Real Estate
10225 North Kings Hwy. Myrtle Beach, SC 29572 (843) 272-8700

CONTACT
Coldwell Banker Commercial Caine
340 E Main St. Suite 100 Spartanburg, SC 29302 (864) 342-2322

www.cbcommercialchicora.com

55

www.cbccaine.com

SC - Sumter

SD - Rapid City

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Sumter, SC

665

104,624

39,583

45,494

33,348

9.90%

Rapid City, SD

6,247

125,797

50,124

52,281

51,878

3.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Continental Tire is nearing completion of their 1 million SF


plant.

The housing market is picking up. Starbucks and Aspen Dental were completed. The Georgia Pacific OSB plant started production. Caterpillar completed its expansion. Downtown revitalization is heating up.

Wal-Mart opened a second store. Vacancy is minimal. New construction is on the rise. Units sold is up, and sellers are able to hold on price. The amount of sellers that are move-up buyers is on the rise.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

q p p

q p p

n n n

n n n

N/A N/A N/A

n p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Cornerstone
38 N. Main St. Sumter, SC 29150 (803) 778-1139

CONTACT
Coldwell Banker Commercial Lewis Kirkeby Hall RE
2700 West Main Street Rapid City, SD 57702 (605) 343-2700

www.cbccornerstone.com

56

www.cbcworldwide.com

TN - Chattanooga Metro

TN - East

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Chattanooga, TN-GA

2,089

526,490

211,265

$47,279

208,265

8.50%

Knoxville, TN

1,857

702,994

297,456

$48,362

307,125

7.50%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

A new Amazon distribution center opened, providing over


2,000 new jobs in the area.

Kimberly Clark moved its regional office from downtown

Volkswagens production has surpassed expectations. The

Knoxville into a part of the former Goodys corporate office complex in west Knoxville. most sectors to either decline or remain steady.

company is considering expanding the plant to produce a new line of SUVs. Two shifts are operating in the existing plant, and a third shift is possible.

The economy continues to improve, causing vacancy rates for Georgia-based Blanchard & Calhoun Commercial is planning
up to 350 Apartment units, a 150 room hotel, and 225 units of student housing, plus Office and Retail space at the former Baptist Hospital site on the south side of the Tennessee River in Knoxville. in the $400,000 and under price point in particularly high demand.

Wacker Chemie AG is constructing a $1 billion facility in Bradley County. Initial employment will be approximately 500 highly skilled workers. The new integrated site is Wackers first polysilicon production facility outside Germany. A new 300 acre Industrial site has just become available in
southern McMinn County, just across the Hiwassee River from Bradley County. The site has highway and railroad access. It is less than six miles from Interstate 75. year while Retail activity remains virtually flat.

The Residential market continues to improve with houses Because the main campus of the University of Tennessee is Knoxville is at the gateway to the Great Smoky Mountains

Industrial sales and demand have increased over the last The Cleveland / Bradley County area is home to 12 Fortune
500 companies. This market is positioned for tremendous growth in the next 5 years. In addition to the new and existing manufacturing facilities, many supporting suppliers are looking to relocate to the area.

located in Knoxville, the student housing market continues to expand with four major projects either announced or under construction. National Park which has about 10 million visitors annually, making it the most visited national park.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

N/A N/A N/A

q
N/A

q p n

q n p

q p q

n n n

p q p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

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

CONTACT
Coldwell Banker Commercial Wallace & Wallace, Realtors
124 N. Winston Rd. Knoxville, TN 37919 (865) 690-1111

www.hamiltoncommercial.com

57

www.cbcww.com

TN - Nashville

TX - Abilene

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

NashvilleDavidsonFranklin, TN

5,687

1,595,554

635,077

$56,636

725,719

7.10%

Abilene, TX

2,745

160,753

64,687

43,771

60,543

5.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The new Nashville Convention Center is open. Tractor Supply Companys new corporate headquarters is
under construction in Brentwood. under construction in Nashville. Spring Hill Plant.

Life Point Hospital Groups new corporate headquarters is General Motors is investing $350 million to expand the Nissan is adding 900 jobs at the Smyrna plant. A new Hyatt Hotel is announced for Downtown Nashville.

The market is strong and steady. The local economy is diversified. There is strong influence from wind energy, oil and gas. There is strong influence from Dyess AFB, home of the B1
Bomber.

Possible future growth from Cline Shell oil exploration just


west of Abilene.

Growth continues in the Medical area with the addition of


Texas Tech Pharmacy and Nursing School.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

n n n

q p n

q p p

n n n

q n p

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Professionals
114 Cool Springs Blvd. Franklin, TN 37067 (615) 465-3737

CONTACT
Coldwell Banker Commercial Panian & Mash
2500 S Willis Abilene, TX 79605 (325) 690-4040

www.cbcworldwide.com

58

www.cbcworldwide.com

TX - Amarillo

TX - Austin

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Amarillo, TX

3,660

247,964

97,166

$46,698

89,400

5.30%

AustinRound Rock, TX

4,224

1,730,983

665,762

$57,641

622,577

5.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Increased national and regional Retail space demand is


bumping into a lack of available Class A Retail space.

Forbes lists Austin with the sixth lowest unemployment rate


of Americas Hardest Working Cities with the fifth highest hours worked per capita.

Soncy Market, anchored by United Supermarket is 50%


preleased with occupancy not available until Q1 2014.

New developer and health care provider makes its debut Austin was tagged by Daily Beast website as the most

Interest in single-tenant freestanding buildings or build-to Retail sales are up 5.37% for the first 5 months of 2013. The single-family residential market is up nearly 10% Multi-Family occupancies and rental rates are strong

suit sites is brisk with multiple location choices available for those tenants or their developers.

with the construction of a $135 million surgical hospital near State Hwy. 45 and La Frontera Boulevard. aspirational city in the nation. This means the Capital City attracts ambitious citizens. The rankings focus on employment growth, per capita income, growth among immigrant residents and quality of life factors, including traffic congestion. developer, planned a four to five story Mixed-Use project, dubbed Burnet Marketplace, for early next year. Hotel planned for downtown will occur in November.

through the first half of 2013 and could end up as the best year since 2007. currently, but new projects under construction or in the planning stage will most likely soften occupancy and rental rates by year end or early 2014.

Cypress Real Estate Advisors, an active Multi-Family

Ground breaking for the $350 million, 50 story, Fairmont Cousins Properties that brought the Frost Bank Tower to
the Austin skyline, is now breaking ground on a 29-story downtown Office tower.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q p p

q p p

q p p

q p p

q p p

q p p

p n p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial First Equity, Realtors
2101 S. Coulter Amarillo, TX 79106 (806) 354-3500

CONTACT
Coldwell Banker Commercial United, Realtors
2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000

www.cbcamarillo.com

59

www.cbcunitedrealtors.com

TX - Bryan / College Station

TX - Central / South

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

College StationBryan, TX

2,106

214,971

88,655

$39,968

60,491

6.40%

San Antonio, TX

7,340

2,093,608

749,986

$52,389

730,244

6.70%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Bryan / College Station is ranked third on Kiplingers

Personal Finances list of the 10 Greatest Places To Live. Its because of good jobs, reasonably priced homes, decent schools and great health care. work according to a recent U. S. Census. One of only three Texas cities to be designated a Bicycle Friendly Community by the League of American Bicyclists. SF facility in College Station. health services.

Activity in the market includes: Federal Government Demand for new product exceeds supply.
tight lending restraints.

expansion, NSA, consolidated Military Medical facilities, Halliburton and Baker Hughes. The market has seen expanded residential growth in new areas.

#1 in Texas for the highest percentage of people that bike to

Commercial sales are up 18% over 2012, but are subject to Existing home sale are up 23% over 2012. New home starts
continue to rise. Inventory is low. residential leading.

A major healthcare provider has opened a four story, 120,000 Over 34% of the population is employed in education and Residential values are up 7% year over year in true
appreciation. Volume is up 20%.

There is continued improvement across the board with Energy exploration and development continues to fuel the
economy and employment.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

p n p

n n n

q p p

q p n

q p n

n n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial United, Realtors
2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000

CONTACT
Coldwell Banker Commercial Alamo City
18756 Stone Oak Pkwy. Suite 202 San Antonio, TX 78259 (210) 483-6250

www.cbcunitedrealtors.com

60

www.cbcalamo.com

TX - Houston

TX - Lubbock

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

HoustonSugar LandBaytown, TX

8,928

5,937,339

2,084,052

$65,395

2,246,860

6.70%

Lubbock, TX

1,799

279,239

111,087

$41,203

101,281

5.80%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Forbes ranks Houston #10 of Americas Top Ten Hardest

Working Cities, meaning residents work the greatest number of hours per capita. for attracting ambitious citizens, according to The Daily Beast.

Jackson Dean Construction has started construction on

an $18.2 million new Costco store including a 151,999 SF Warehouse and a 2,816 SF fuel facility. Retail activity, hit a record high in April, with early indications suggesting no sign of cooling this summer. in the American Institute for Economic Researchs (AIER) College Destinations Index. from 6.4% in July.

Houston ranks #3 as the most aspirational city in the nation Ground breaking for the new 140,000 SF boutique Office

The Lubbock economic index, ramrodded by home sales and

tower in River Oaks is scheduled for the end of the year. The deal creates a $1.05 billion bank in Houston and boosts Allegiance Bank Texass lending limit. is 92% leased and includes 52 acres, 10 buildings and 4.4 million SF of Office space. The deal is expected to close in September.

Lubbock ranked among the top 20 cities for college students The Lubbock area unemployment rate fell to 5.8% in August Lubbocks expansion is on solid footing as employment
continues to reach new highs. Nearly all industries are adding jobs.

Allegiance Bancshares Inc. has acquired Independence Bank. Cousins Properties Inc. is purchasing Greenway Plaza, which Chevron USA is planning to build a new downtown skyscraper
that will be 50 stories with 1.7 million SF of space. Groundbreaking is scheduled for Q2 of 2014 and occupancy beginning in 2016.

Texas Tech University helped sustain nearly 15,000 jobs and


contributed $1.26 billion to the economic pulse of Lubbock County, according to The Economic Impact of Texas Tech University study.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

N/A N/A N/A

q p p

q p p

q p n

n n p

q p p

n n p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial United, Realtors
2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000

CONTACT
Coldwell Banker Commercial Rick Canup, Realtors
4924 S. Loop 289 Lubbock, TX 79414 (806) 793-0888

www.cbcunitedrealtors.com

61

www.cbclubbock.com

TX - Rio Grande Valley MSA

TX - Victoria

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

McAllenEdinburgMission, TX

1,570

751,544

204,655

$31,886

168,988

11.60%

Victoria, TX

2,248

115,980

41,805

$50,344

41,963

6.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Rio Grande Valley Water ports ranked 5th nationally in


binational trade.

The announcement of a new University of Texas Medical

School & University are sure to impact the Rio Grande Valley. the face of the Rio Grande Valley, but space exploration as well.

SpaceX arrives in Brownsville, TX and will not only change The MSA accounted for $13.5 billion in Retail sales in 2012. McAllen MSA was named fastest growing in the nation by The
Fiscal Times in 2012.

Wal-Mart is poised to open a second Supercenter. Retail absorption is flat. Homewood Suites and a Hilton Garden Inn recently opened. A new Apartment complex broke ground. Residential pressures are being relieved by new Apartment
buildings.

New home development is lagging behind demand.

The Rio Grande Valley is the third largest market in Texas


behind Houston and Dallas.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p p

q p n

q p n

n n n

n n n

n n n

n n n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial La Mansion
508 E. Dove Ave. McAllen, TX 78504 (956) 631-1322

CONTACT
Coldwell Banker Commercial The Ron Brown Company
2505 N. Navarro St. Victoria, TX 77901 (361) 575-8427

www.cbclamansion.com

62

www.cbcworldwide.com

TX - Waco

UT - Salt Lake County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Waco, TX

1,042

234,783

91,531

$44,485

94,029

6.90%

Salt Lake City, UT

9,539

1,140,107

376,706

$66,176

567,447

5.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Lakewood Center is complete and 100% occupied. Construction on the largest HEB in Texas is almost complete. Construction of the new Baylor football stadium is going well. The Waco Industrial Foundation purchased 630 acres at the
southeast corner of I-35 and Hwy 6.

eBay expands its presence in Utah; plans to hire 1,600


employees.

Many new restaurants are expanding into Utah including Vacancy continues to decrease in most property types. Qualtrics, Royal Bank of Scotland, and Workday are to
expand in Utah and add 1,500+ jobs. remain nationally competitive.

Dunkin Donuts, Freddys Frozen Custard, Zaxbys, Freebirds World Burrito, Mooyah and Popeyes.

Lease rates across most property types are increasing but Consumer confidence is beginning to rebound as the
economy improves. This will add more demand for Retail goods and further Retail expansion.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q p n

n n n

n n n

q p p

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Jim Stewart, Realtors
500 N. Valley Mills Dr. Waco, TX 76710 (254) 776-0000

CONTACT
Coldwell Banker Commercial NRT - Salt Lake City
6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (801) 947-8300

www.coldwellbankercommercialwaco.com

63

www.coldwellutah.com

VA - Fredericksburg

VA - Lynchburg

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

WashingtonArlingtonAlexandria, DC-VA-MD

5,627

5,523,778

2,103,127

$84,548

2,492,165

6.00%

Lynchburg, VA

2,124

248,585

100,680

$46,100

96,796

7.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Investment activity remains very strong coupled with


diminishing supply.

Lynchburg will get its first Fresh Market store in the coming Vacancy rates are falling in Retail but have leveled out in

Development has been minimal over the last few years;


vacancy, slowly but surely, remains on the decline.

months. At the same time, Kroger is in the process of renovating one of its stores into one of the largest Krogers in this area. Office and Industrial since owners tend to be trading tenants back and forth. in Gretna, VA, just south of Lynchburg.

The few development deals that are progressing have been in


the works for quite some time and come with tenants in tow. supply well under 5 months, spurring interest in residential development. inching upwards and vacancy slowly declining.

The Residential market is close to fully rebounding with

Centra Health has broken ground on a $20M medical facility The Residential market continues to see positive growth in
home sales, especially in the higher end properties. since January 2009.

The market is continuing at a slow, yet steady pace with rents A new minor league baseball stadium and racetrack are
spurring interest in new areas for future development.

The Lynchburg unemployment rate is the lowest it has been

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n q n

q p p

N/A N/A N/A

n n n

q p p

q p n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Elite
1201 Central Park Blvd. Fredericksburg, VA 22401 (540) 786-1402

CONTACT
Coldwell Banker Commercial Read & Co.
101 Annjo Ct. Forest, VA 24551 (434) 455-2285

www.cbcelite.com

64

www.cbcread.com

WA - Clark County

WA - King County

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

PortlandVancouverBeaverton, OR-WA

6,684

2,261,246

878,239

$58,563

952,611

7.50%

SeattleTacomaBellevue, WA

5,894

3,433,786

1,373,207

$67,763

1,502,591

5.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

The infrastructure for the Port of Vancouver Centennial

Industrial Park has been completed. The Port is projected to draw in excess of $50,000,000 of new Industrial development to the region.

Overall, Puget Sound employment outlook is very positive. The Multi-Family sector is still very strong.
continue to rise along with sale prices. Rental rates

Amazon, Boeing, Microsoft and many other employers are in expansion mode.

A slowly improving economy is driving absorption. A great deal of new construction is in the Apartment sector

with roughly a dozen large projects under development. New construction in the other sectors is typically build-tosuits and Retail with strong anchors confirmed in advance of construction commencing. prices cautiously increasing. The Multi-Family market is strong; vacancy is low with cap rates for good quality projects holding steady in the high 6% range.

Retail developers and tenants are starting to dip their toes Residential developers continue to look for good deals on

back into the water. There has been some speculative Land purchases in 2013, and there are a number of national retailers looking at the market. fully developed plats. Most of the fully developed plats have already been purchased, and developers are starting to consider buying raw Land.

The single-family Residential market is tightening with home There is the feeling of cautious optimism in this market. Vancouver has always been considered a secondary market
to Portland. The congestion in Portland along with a significantly higher business and personal tax structure along with better home values is encouraging more companies to consider Vancouver.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p n

q p n

q p p

q p p

q p n

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Jenkins & Associates
300 West 15th St. Suite 201 Vancouver, WA 98660 (360) 699-4494

CONTACT
Coldwell Banker Commercial Danforth & Associates
33313 First Way South Federal Way, WA 98003 (253) 874-3200

www.cbcworldwidenw.com

65

www.cbcdanforth.com

WI - Janesville / Beloit

WI - Madison, Greater

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Janesville, WI

720

160,224

63,135

$54,346

63,044

8.50%

Madison, WI

2,738

574,245

242,725

$65,668

281,044

5.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Blackhawk Technical College will be moving its Advanced Two local firms announced expansions: Seneca Foods

Manufacturing Training programs into a vacant 104,000 SF manufacturing building in Milton, WI. Corporation, the worlds largest producer of canned vegetables and the leading processor of fruits in the U.S., is adding 80,000 SF to its existing 1.1 Million SF footprint. GOEX, an industry leader in extruding a variety of resins into custom rigid plastic sheet and roll stock broke ground on a 161,000 SF plant. The building alone represents a $5.5 million investment by the company. 6% vacancy rate.

The Spectrum Bands (Rayovac, Remington, etc.)


headquarters is nearing completion. expanding.

Epic, Promega and other bio/technology companies are Multi-family construction continues to be very strong. $50,000,000 Royster Clark redevelopment groundbreaking is
scheduled for the fall.

UW-Madison, the state government, research companies,

The Industrial sectors vacancy rate fell another 2% to post a By mid year, the number of housing transactions leveled off, Retail continues to be on the uptick. Quaker Steak & Lube
and average home values are rising about 5% versus the 17% seen last year. opens soon at a major I-90 interchange, and pad sites are moving again with Panda Express purchasing a lot near Menards. A new strip center is breaking ground in the Kmart Center, and a CVS is nearing completion in front of Big Lots.

medical facilities and Insurance companies are contributing to decreasing unemployment and an improving economy. quality of life designations by many national surveys.

Greater Madison is great for employee retention with high Housing market in Dane County continues to improve, with
sales increasing 29% YOY. Median prices up 10% YOY. Distressed property transfers account for only 5.6% of the total sales.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

q p n

q p n

q p n

n n n

n n n

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

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

CONTACT
Coldwell Banker Commercial Success
7609 Elmwood Ave. Suite 102 Middleton, WI 53562 (608) 662-1110

www.mcguiremears.com

66

www.cbcommercialsuccess.com

WY - Cheyenne Metro

International Markets
DEMOGRAPHICS
CBSA Square Miles
Population
Households

Household Income Median

Employees (Total)

Unemployment

Cheyenne, WY

2,686

89,439

36,986

$60,634

31,977

4.90%

MARKET HIGHLIGHTS

Strong technological business investments in Cheyenne


throughout 2012 with more expected in 2013.

Multiple Microsoft investments into Cheyenne area include


two new $112 million Cloud data centers as well as a green fuel cell-powered data center designed to run on biogas generated from a local water treatment plant.

NCAR (National Center for Atmospheric Research) Super

Computer, one of the top 20 super computers in the world, began operations in 2012. regional and national oil and gas operators to the region. Industrial absorption in the area beginning to be dominated by oil and gas.

Swan Ranch Industrial Park development continues to bring Residential values continue to rise with overall sales and

values at their highest levels since 2007. Several large Apartment and Multi-Family developments are scheduled to break ground in 2013.

OFFICE
Vacancy

retail

industrial

multy-family

n q q

q p n

q p p

q p p

Absorption

Rental Rates

CONTACT
Coldwell Banker Commercial The Property Exchange
255 Storey Blvd. Cheyenne, WY 82009 (307) 632-6481

www.WyomingCommercialBrokers.com

67

Bermuda

Canada - Aurora, Ontario

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Bermuda

21

64,268

34,110

$69,183 USD

38,097

6.00%

Aurora, Ontario

19

53,400

16,100

$157,000

24,537

1.20%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

A showcase building in the City of Hamilton, located at 141

Front St., was completed September 2010 and is currently at 80% occupancy. high level of new space on the market at affordable prices. waterfront property in Hamilton, is 90% preleased, and completion is due August / September 2013. sale has grown tremendously in the last couple of years, but an increased interest and completed sales are starting to be seen. residential transactions are still down approximately 70% from 2008 records. in Bermuda. The government has recently reduced the licensing fees to 6 and 8% from 18 and 25%.

Aurora is home to the Magna International headquarters and


Statefarms national head office. Toronto.

Vacancy levels in secondary space have increased due to a Waterloo House, approximately 20,000 SF of premier

Aurora is a highly affluent town about 20kms north of New construction currently resides on the east and west side
of Leslie Street.

The inventory of commercial properties listed islandwide for Demand remains approximately the same as 2012 but

Resale home prices continue to rise in high demand Aurora. Auroras population is expected to reach 70,000 by 2020. Aurora is the twin city of Leksand, Sweden.

As an island destination, foreigners often look to purchase

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n q q

p q q

n n q

N/A N/A N/A

n n n

n n n

p n n

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Bermuda Realty
11 Par la Ville Rd. Hamilton, Bermuda HM HX +1 (441) 292-1793

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

www.bermudacommercial.com

68

www.cbtreccommercial.com

Canada - Barrie, Ontario

Canada - Innisfil, Ontario

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Barrie, Ontario

30

136,063

51,400

$67,500

97,657

4.30%

Innisfil, Ontario

109

32,727

13,797

$71,676

12,040

4.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

IBM recently opened Smart Data Centre in Barrie. Low tax rates and high tech employment keep vacancy low. The Barrie population is one of the fastest growing in Canada. Housing remains strong in Barrie. Greenspace just outside the city limits was approved for
development.

Located just outside Barrie, Innisfil is becoming a high


demand community to live in. business. year.

Innisfils commercial core is being revitalized to suit new Innisfil new home contruction is growing by about 6.1% per Located on Lake Simcoe, cottage lakefront properties are in
high demand. of potential.

The market is host to large amounts of rural areas with a lot Georgian Downs Harness Racetrack is located along the
highway in Innisfil.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

n n n

n p p

n n n

q p p

n n n

n q q

n p p

n n n

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

www.cbtreccommercial.com

69

www.cbtreccommercial.com

Canada - Kelowna / West Kelowna, BC

Canada - Newmarket, Ontario

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Kelowna / West Kelowna, BC

1,142

187,234

67,000

$77,418 CDN

100,278

7.90%

Newmarket, Ontario

14

83,000

26,000

$96,680

66,305

1.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Completion of Landmark VI Office tower has provided 216,000


SF of class A Office space.

Target stores have opened two locations in the region

in former Zellers locations that have been substantially renovated and expanded. International Airport continue to grow. The high tech sector remains strong. however values remain flat.

The government health sector, University and Kelowna

Magna is still a major employer for the Newmarket area. Vacancy is falling due to a successful local business climate. Rapid transit project for Davis Drive nears the halfway point. Residential development continues in northwest and
southeast sections of the town. Newmarket.

Redevelopment of Davis Drive will change the face of Newmarket is home to Southlake Regional Health Centre and
Stronach Cancer Centre.

Residential sales are up, and inventory is slowly decreasing; The market is a highly desirable lifestyle region of Canada
with Kelowna being the largest market between Greater Vancouver and Calgary.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

p n n

p q n

n p n

n n n

q q p

q p p

q p p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Horizon Realty
#14-1470 Harvey Ave. Kelowna, British Columbia V1Y 9K8 (250) 763-4343

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

www.cbcworldwide.com

70

www.cbtreccommercial.com

Canada - Orillia, Ontario

Canada - Ottawa, Canada

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Orillia, Ontario

11

30,586

11,234

$56,951

11,324

4.30%

Ottawa, Ontario

1,801

1,200,000

420,000

$93,280

740,000

6.30%

MARKET HIGHLIGHTS

Casino Rama remains Orillias largest employer. Downtown revitalization brings new small businesses. The city has experienced moderate growth at rates around
1.9%.

MARKET HIGHLIGHTS Overall vacancy rates increased slightly to 7.9% across region: Downtown (up to 7.3%), Suburbs (up to 9.7%) and Kanata (down to 13.5%). Expected further decline for next 2 years as tenants appear concerned about liquidity and possible higher financing rates.

Active new developments (2014 occupancy): 150 Elgin (350,000 Anticipated large Downtown lease opportunities, as result

New homes are being constructed in the northwest section of


the city.

SF Office) and 90 Elgin (646,000 SF federal government Office). Downtown: Alterna Bank (240,000 SF Mixed-Use in Westboro); and Lansdowne Park (373,000 SF Mixed-Use) redevelopment. of Federal Governments continued relocation plans to its recently-acquired suburban campus (to reduce occupancy costs). They are not progressing well; over-budget redevelopment expenses and staff relocation unease. demand for both Residential and Retail clients.

The Ontario Provincal Police headquarters remains a large


public sector employer.

Orillia is known as the Sunshine City or Mariposa, taking


the moniker from the Sunshine Sketches of a Little Town by Stephen Leacock.

Residential condo developments continue to be active and in US retailers continue to establish new locations in Ottawa: The Conference Board of Canada is forecasting real GDP
Target, Loews and Tanger Outlets in the suburbs; Nordstrom in Rideau Centre, Downtown. growth below 2% for the Ottawa Gatineau region and expected to continue into 2014. This is largely a result of staffing cuts to the public administration sector. Ottawa City Hall is grappling with plans for new casino and light rail transit system.
OFFICE
Vacancy

OFFICE
Vacancy

retail

industrial

multy-family

retail

industrial

multy-family

n n n

q n n

n n n

n n n

p q n

p p p

p q p

q p p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

CONTACT
Coldwell Banker Commercial First Ottawa Realty, Brokerage
1749 Woodward Dr. Ottawa, Ontario K2C 0P9 (613) 692-7780

www.cbtreccommercial.com

71

www.ottawacommercialproperties.com

Canada - Richmond Hill, Ontario

Canada - Trail, British Columbia

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Richmond Hill, Ontario

39

185,541

46,075

$80,121

95,432

3.80%

Trail, British Columbia

13

19,208

8,540

$63,237

4,932

6.30%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Rapid transit via TTC is a major boost to the local economy. Vacancy is falling due to a successful local business climate. Yonge Streets condo development is tremendous. Most new developments reside along Jefferson Sideroad and
multiple infill projects across the town.

Trail is strategically located half way between Vancouver and


Calgary on the beautiful Columbia River and USA Border.

Key infrastructure includes Selkirk College, Regional

Hospital, Teck Resources {#1 employer with a high expansion planned} High Tech Junior Companies, E-Waste Recycling and a new state of the art high school. businesses plus a Walmart.

Most businesses in Richmond Hill are small businesses,

New developments in the past 6 years include 4 major West Kootenay Area is nicely located just 2 hours North
of Spokane, Washington, which is a major shopping and transportation hub as well as an international airport.

with more than half of all employers in the town having four workers or less. Hill has in recent years seen a huge population upsurge, being Canadas fastest-growing community since the 1990s.

Once considered the Rose Capital of the World, Richmond

This is a highly desirable lifestyle with beautiful ski hills Trail is the Home of Champions.

currently expanding, great golf courses, and warm lakes, mountain biking and hiking. Life here is as good as it gets with the one of the nicest climates in Canada. The sports programs here produce some of the best players in Canada in Hockey, Baseball, Curling, Skiing, Golfing, Mountain Biking and Swimming.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p p

q p p

q p p

p q
N/A

p q q

q p
N/A

q p
N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

CONTACT
Coldwell Banker Commercial 1st Trail Real Estate Ltd.
1252 Bay Ave. Trail, British Columbia V1R4A6 (250) 368-5222

www.cbtreccommercial.com

72

www.cbcworldwide.com

Canada - Vaughan, Ontario

Canada - Waterloo Region, Ontario

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Vaughan, Ontario

273,500

288,301

69,535

$84,312

210,100

3.20%

Waterloo Region, Ontario

528

553,000

196,420

$77,040 CAD

284,400

7.40%

MARKET HIGHLIGHTS

Home to Canadas Wonderland and the McMichael Art


Gallery.

Vacancy is falling due to a successful local business climate. Industrial development along Hwy. 400 dominates real estate
development.

MARKET HIGHLIGHTS Marking 20 years since its launch as a University of Waterloo search engine project, OpenText expanded its headquarters with the opening of its Innovation Centre. Revenue tops $1 billion annually at Open Text, Canadas largest software company.

Waterloo Region is home to close to 1,000 technology

Vaughan is one of southern Ontarios fastest growing cities. The population has doubled since 1991. Mackenzie Vaughan Hospital is the new hospital proposed

According to Statistics Canada, the population grew 37.3% in a mere four-year period (more than 9.3% annually).

companies, which generate more than $30 billion in revenues annually and employ about 30,000 people. Competitive business costs and the most diverse economy in Ontario drive the continued expansion of the advanced technology cluster. Waterloo, a research centre, is part of an effort by Mike Lazaridis, cofounder of Blackberry, to invent a quantum computer and turn this region into a Quantum Valley. $759 million has been invested by various sources, including the federal and provincial governments. A $100 million investment fund, Quantum Valley Investments, was launched in March to recruit the worlds best academic researchers. as well as a shift to higher-density housing types. The number of units constructed in reurbanization areas was 48% of all residential units constructed in Waterloo Region in 2012 (1,669 units). Developing within the built up area provides a focus for transit and infrastructure investments, and allows the Region of Waterloo to ensure the development of healthy, safe and balanced communities.
OFFICE retail
industrial multy-family

The Institute for Quantum Computing at the University of

along Major Mackenzie Drive (between Highway 400 and Jane Street).

A shift in the location of building activity has been occurring,

OFFICE
Vacancy

retail

industrial

multy-family

q p p

q p p

q p p

q p p

Vacancy

p n q

p q q

n n n

n n p

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial The Real Estate Centre
2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700

CONTACT
Coldwell Banker Commercial Kitchener, Ontario N2K 3S2 Peter Benninger Realty, +1 (519) 743-5211 Brokerage www.coldwellbankercommercial.ca
508 Riverbend Dr.

www.cbtreccommercial.com

73

Canada - Winnipeg Area, Manitoba

Costa Rica

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Winnipeg Area, Manitoba

184

750,000

262,000

$47,000 CND

350,000

5.20%

Costa Rica

19,653

4,586,353

1,300,000

$12,600 CRC

2,198,000

7.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

CentrePort Transportation hub is located near the


geographical center of Canada and the US.

Immigration is putting pressure on all areas. New major tenants include: Ikea, Cabelas and Facebook. Cheap electricity rates are a major draw for manufacturing. The Canadian Museum of Human Rights is set to open in
2014.

Starbucks opened operations in Costa Rica. Vacancy is rising in some sectors due to recent completion of
new commercial projects.

The residential market is seeing its largest increase in


closed transactions since 2008.

The Costa Rican government is implementing incentive plans


to attract international companies using free trade zones.

Major expansion is occuring at the Winnipeg Convention


Center.

OFFICE
Vacancy

retail

industrial

multy-family

OFFICE
Vacancy

retail

industrial

multy-family

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

n
N/A

p
N/A

p n p

q p p

q p
N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial Preferred
5-1530 Taylor Ave. Winnipeg, Manitoba R23N 1Y1 (204) 985-4300

CONTACT
Coldwell Banker Commercial Costa Rica
50 Meters North of Hotel Roca Verde Dominical, Puntarenas 8000 1-877-211-5275

www.coldwellbanker-winnipeg.com

74

www.coldwellbankercostarica.com

France - Paris

Guatemala

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Paris, France 4,267,000 65,430,000

N/A

28,248

22,800,000

10.80%

Guatemala

68,056

15,500,000

N/A

N/A

4,359,000

4.10%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Loan rates are historically low (under 3%). Sales volume strongly declined; prices are stabilizing in
Paris and hotspots, and decreasing nationwide.

Guatemala shows a growth of 375% in Foreign Direct

Tax cuts for 2013 / 2014 are propitious to market energizing. New housing construction has slowed down because of tax
reforms.

Investment (FDI); and a growth from US $262.2 million to US $1.24 billion from 2003 to 2012. Corporations such as Bimbo, Telefonica, Nestle, Pepsico and Ambev had heavily invested in the country. US investment through a portfolio that includes seven infrastructure projects: industrial park in the border with Mexico, recover the port of Champerico, build a solid and liquid bulk terminal in port St. Tomas, inter oceanic canal, toll highways, international airport and a multimodal port. infrastructure, renewable energy and oil and mining. Facilities and infrastructure will be demanded for these sectors. constructors. It is estimated that Guatemala will register for a 1.799 million units deficit in 2013, 1.882 units in 2014, and 1.963 units in 2015. of residential Apartments. From 107 new projects in the City, 67% are residential buildings. The price range of 35 projects is from $100 USD to $150,000 USD. An 80 unit building is estimated to be 100% reserved in 3 months.
OFFICE retail
industrial multy-family

Guatemala seeks to attract more than $1.3 billion in

France and Paris are the top tourist destinations. In Paris, the average sqm price has fallen down to 8,206, the
same level as 2011.

Potential sectors for FDI: BPOs and technological

Low income housing projects are a boom for developers and

New construction is mainly represented by vertical construction

OFFICE
Vacancy

retail

industrial

multy-family

p q q

q q q

q p n

q q q

Vacancy

q p n

p p p

q p n

q p q

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial France & Monaco
8 Rue Lamennais Paris, Ile de France 75008 +33 01 83 53 53 53

CONTACT
Coldwell Banker Commercial Master Realtor
5 avenida 555 zona 14 Europlaza, torre 3 oficina 801 Guatemala, Guatemala Guatemala +502 2203 6363

www.coldwellbanker.fr

75

www.coldwellbanker.com.gt

Italy

Mexico - Mexico City

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Italy

301

60,900,000 25,000,000

32,712

22,723,000

11.20%

Mexico City, Mexico

571

23,000,000

N/A

$35,000 MXN

8,600,000

3.90%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Corporate investments were stable in the period 2009 to 2011


(average approximately 4.2 billion) but were reduced to one third in 2012 (1.2 to 1.8 billion) - of which, 40% are Offices and 24% are Hotels.

Despite that its been merely 2 years since its introduction

Operators do not predict large drops in prices. The repricing Real estate funds in 2012; there was a further increase in

in the Mexican market, the Infrastructure and Real state Investment Trusts (FIBRA, for its acronym in Spanish), have raised little more than $5.8 billion USD in the Mexican Stock Exchange through five different entities in eight emissions. operator in Latin America, said this week it agreed to acquire 25% of Axo Group. way. During the first semester, tenants absorption in Mexico City and its metropolitan area market were faster than the developers construction response, so the average lease prices per sqm increased. investment funds have bought and developed new logistics and Industrial parks; this should make average rent price levels return to their normal rates at the end of 2013. 2009; and looking forward to 2015, this will increase 24% more.

in Italy should not be profound; rather, there will be a further decrease of less than 5%. assets to about 40 billion, although a number of familiar funds were penalized by taxation. 60%, Commercial 19%, Logistics and Industrial 6%, Residential 3% and the development funds 12%.

The Mexican consortium Alsea, the largest restaurant

The Industrial and logistics market is moving in a positive

The composition of funds consists of Offices representing The Hotel market continues a positive interest in the Arts
Cities. Qatar Holding Fund is ready to invest one billion dollars to make the Emerald Coast in Sardinia a luxury tourist hub.

Since Q4 2012, new players, independent investors and

In Shopping Mall Centers, rents are confirmed stable in

The Office market total inventory increased by 47% since

established centers. The frequent renegotiations and commercialization in the area generally require more time. In the High Street of the main Italian cities, due to limited availability, demand remains strong for the best positions.
OFFICE retail
industrial multy-family

The average rent prices have increased in the past years.


OFFICE
Vacancy

retail

industrial

multy-family

Vacancy

p q q

p q q

p q q

p q q

p p p

n p n

n p n

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial S.p.A.

Via Sardegna, 50 - Galleria del Corso, 2 Rome - Milan, Italy 00187 - 20122 +39 06 3974 0456 - +39 02 8991 9232

CONTACT
Coldwell Banker Commercial Mexico
Montes Urales 415 - 1 Lomas de Chapultepec Mexico, Mexico 11000 55 41621000

www.cbcommercial.it

76

www.cbcmexico.mx

Puerto Rico

Spain - Barcelona & Catalua Region

DEMOGRAPHICS
CBSA Square Miles
Population
Households

DEMOGRAPHICS
Household Income Median
Employees (Total) Unemployment

CBSA

Square Miles

Population

Households

Household Income Median

Employees (Total)

Unemployment

Puerto Rico

3,562

1,278,000

855,621

$32,182 USD

602,520

13.60%

Barcelona & Catalua Region, Spain

1,399

46,800,000 17,100,000

17,960

16,900,000

26.00%

MARKET HIGHLIGHTS

MARKET HIGHLIGHTS

Several major franchises are looking at opening inside the


island.

Construction sector in Spain is on the up. Eurostat registered


an increase of 4.4% in May compared to April the largest increase across the whole of the European Union (EU). National activity grew by 8.2% year-on-year.

Commercial Real Estate prices are favorable for prospective


buyers.

Foreign Investors are visiting the island and prospecting. Consumer product purchase is high. New airport expansions are planned for the San Juan
International Airport.

AXA Real Estate Investment Managers bought Barcelona The lack of funding for local investors has opened

Office buildings from the Catalan government in May for 172 million Euros. This is its second country purchase in five years. possibilities for foreign investors who are taking advantage of commercial property price drops. 1.7% in 2013 and then rebound by 0.2% in 2014 and by 1.5% between 2015 and 2017.

Incentives for tourist base companies are on the rise,

promoting an attractive opportunity in the Hospitality sector.

Ernst & Young estimate that the Spanish economy will fall by There is an empty residential property decline in Catalua

and the Balearic Islands. Nationally, over the past decade the number of empty homes nationwide has increased by 336,943 units. of housing in Spain fell by 10.5% in Q2 of 2013. This is a slight improvement from the decrease of 12.1% in Q1, 2013. Since the peak in Q4, 2007, house prices have accumulated a drop of 37.1%.
OFFICE retail
industrial multy-family

Property prices continue to fall. According to Tinsa, the price

OFFICE
Vacancy

retail

industrial

multy-family

p n q

p n q

p q q

q n p

Vacancy

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

N/A N/A N/A

Absorption

Absorption

Rental Rates

Rental Rates

CONTACT
Coldwell Banker Commercial KF Real Estate
530 Constitution Ave. San Juan, Puerto Rico 00901 (787) 433-0077

CONTACT
Coldwell Banker Commercial Spain
Avda. Diagonal 433, 3 2 Barcelona, Catalua 8036 (+34) 93 241 3082

www.cbcommercialpr.com

77

www.coldwellbanker.es

United Arab Emirates - Dubai

DEMOGRAPHICS
CBSA Square Miles
Population
Households

Household Income Median

Employees (Total)

Unemployment

Dubai, U.A.E.

4,110

2,170,901

203,140

$4,972.37 USD

1,325,949

N/A

MARKET HIGHLIGHTS

The Infinity Tower in Dubai Marina features a 90 degree twist The latest Prime Global Rental Index report by UK-based

and is 310 metres high. The Dh1 billion Infinity Tower in Dubai Marina, the worlds tallest tower featuring a 90-degree twist, has been completed. consultancy reveals rents in the emirate rose by 18.3% in the year to March. Rental values in Dubai are up 10.1% in the last six months while they rose by 3.5% in the first quarter of 2013. during the year to Q1 2013, in the list of 42 global cities surveyed by the Global Property Guide. The organization, which collates real estate data from across the world, said in its report that prices soared by 28.02%. new legislations in the next two years in order to regulate the real estate market in the emirate and protect it from speculation and harmful practices. visitors to Dubai between October 2020 and April 2021 and will give a strong boost to the economy, creating an estimated 277,000 additional jobs. The bid result will be announced in November 2013.
OFFICE retail
industrial

Dubai house prices increased at the fastest pace in world

The Dubai Land Department is in the process of issuing seven A successful Dubai Expo bid could result in over 25 million

multy-family

Vacancy

q p p

q p p

q p p

q p p

Absorption

Rental Rates

CONTACT
Coldwell Banker Commercial UAE (Mega Homes Real Estate)
Suite 2804, The Citadel Corporate Tower, Business Bay Dubai, Dubai P.O. Box 73618 +971 4 439 1200

www.coldwellbanker-ae.com

78

INDEX BY MARKET
Abilene, TX Albuquerque / Bernalillo County, NM Amarillo, TX Anchorage, AK Antelope Valley, CA Athens, GA Atlanta, Greater MSA, GA Austin, TX Billings, MT Bloomington / Normal, IL Boca Raton, FL Boise, Idaho, ID Bryan / College Station, TX Central, MN Central & Northern, NJ Central / South, TX Champaign / Urbana, IL Charleston, SC Charlotte County, FL Chattanooga Metro, TN Cheyenne Metro, WY Chicagoland, IL Chico, CA Cincinnati, OH Clark County, WA Cleveland, OH Coeur dAlene, ID Columbia, SC Columbus, GA Dalton / Whitfield County, GA Daytona Beach / Ormond Beach, FL Deltona / Daytona Beach, FL Denver, CO East, TN East Central Indiana, IN Eastern, ID Fairfield County, CT Fargo / Moorhead, ND Florida Keys / Key West, FL Fort Myers / Naples, FL Fredericksburg, VA Gainesville, FL Garden City Grand Junction / Mesa County, CO Greensboro / Guilford County, NC Greenville, SC Gulfport / Biloxi, MS Hinesville / Fort Stewart, GA Honolulu, HI Houston, TX Houston County, AL Indian River County, FL Indianapolis, IN Inland Empire North / Victor Valley, CA Jacksonville, FL Janesville / Beloit, WI Kansas City Meto Area, KS King County, WA Lafayette, LA Lake Oconee Trade Area, GA Lakeland / Winter Haven, FL Lexington, KY Lincoln, NE Little Rock, AR Long Beach / South Bay, CA Long Island, NY Louisville Metro, KY Lubbock, TX Lynchburg, VA Madison, Greater, WI Mankato, MN Marietta, GA Melbourne / Brevard County, FL Melbourne / Palm Bay / Titusville, FL Midcoast and Southern, ME 58 45 59 5 6 25 26 59 42 32 16 30 60 39 43 60 32 53 17 57 67 33 7 48 65 49 31 54 26 27 17 18 14 57 33 31 15 48 18 19 64 19 34 15 46 54 41 27 30 61 4 20 34 7 20 66 35 65 37 28 21 35 42 6 8 45 36 61 64 66 40 28 21 22 38 Middle Georgia, GA Minneapolis Metro, MN Modesto, CA Montgomery, AL Morris County, NJ Myrtle Beach, SC Napa & Sonoma Valleys, CA Nashville, TN New Orleans, LA New York City, NY Newport Beach, CA North Los Angeles County, CA North State, CA Northeastern, PA Northern, MI Northern, NJ Oakland / East Bay, CA Ocala, Marion County, FL Oklahoma City Metro, OK Orange County, CA Philadelphia, Northern Suburbs, PA Piedmont Triad, NC Port Orange / New Smyrna Beach, FL Portland, OR Rapid City, SD Reno / Sparks, NV Rio Grande Valley MSA, TX Riverside / Corona Valley, CA Riverside / South West, CA Roseville / Placer County, CA Salem, OR Salt Lake County, UT San Mateo County, CA Sarasota / Manatee / Charlotte, FL Savannah, GA Sedona, AZ Southern, KY Southern, OR Southwestern, PA Spartanburg, SC St. Joseph, MO St. Lucie County, FL Sumter, SC Sussex County, DE Tallahassee, FL Tampa Bay, FL Tulsa, Oklahoma, OK Victoria, TX Waco, TX West Los Angeles, CA Western, MI Wilmington, NC 29 40 8 4 44 55 9 58 37 46 9 10 10 52 38 44 11 22 49 11 52 47 23 50 56 43 62 12 12 13 51 63 13 23 29 5 36 51 53 55 41 24 56 16 24 25 50 62 63 14 39 47

INTERNATIONAL Bermuda 68 Canada Aurora, Ontario 68 Barrie, Ontario 69 Innisfil, Ontario 69 Kelowna / West Kelowna, BC 70 Newmarket, Ontario 70 Orillia, Ontario 71 Ottawa, Canada 71 Richmond Hill, Ontario 72 Trail, British Columbia 72 Vaughan, Ontario 73 Waterloo Region, Ontario 73 Winnipeg Area, Manitoba 74 Costa Rica 74 France - Paris 75 Guatemala 75 Italy 76 Mexico - Mexico City 76 Puerto Rico 77 Spain - Barcelona & Catalua Region 77 United Arab Emirates - Dubai 78

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.

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