Professional Documents
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Blue Book
Market Review
MARKET SNAPSHOTS
cbcworldwide.com
TABLE OF CONTENTS
AL - Dothan, Houston County AL - Huntsville AL - Montgomery AR - Hot Springs AR - Little Rock CA - Humboldt County CA - Inland Empire / Palm Springs CA - Inland Empire North / Victor Valley CA - Los Angeles CA - Los Angeles Westside CA - Modesto CA - Monterey / San Benito Counties CA - Monterey Peninsula CA - Orange County CA - Redding CA - Rowland Heights CA - San Diego CA - San Fernando / San Gabriel Valley CA - San Francisco CA - San Gabriel Valley North CA - Southwest Riverside County CO - Western CT - Danbury / New Haven County CT - Faireld County DE - Sussex County FL - Alachua County FL - Deltona-Daytona / Ormond Beach FL - Jacksonville FL - Lakeland / Winterhaven FL - Manatee, Sarasota, Charlotte Counties FL - Port St. Lucie FL - South FL - Southwest FL - Tampa / St. Petersburg FL - The Florida Keys FL - Vero Beach / Indian River County GA - Athens GA - Atlanta Greater MSA GA - Atlanta MSA GA - Greene / Morgan / Putnam Counties GA - Savannah HI - Honolulu ID - Boise ID - Kootenai County IL - Bloomington / Normal IL - Champaign / Urbana IL - Chicagoland IL - Springeld KS - Kansas City Metro Area KY - Louisville Metro KY - Southern LA - Lafayette LA - New Orleans ME - Midcoast MI - Middle MN - Mankato 3 3 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 MN - Minneapolis / St. Paul Metro Area MN - St. Cloud / Central MO - Springeld Area MO - St. Joseph MT - Billings NE - Lincoln NJ - Morris County NJ - Northern NM - Albuquerque Metro NY - Albany (NY Capital Region) NY - New York NV - Reno / Sparks MSA NC - New Hanover County NC - Outer Banks NC - Research Triangle NC - Winston-Salem ND - Fargo / Moorhead OR - Portland OR - Salem PA - Central PA - Northeastern PA - Southwestern SC - Charleston SC - Columbia SC - Greenville / Spartanburg SC - Myrtle Beach SC - Sumter TN - Chattanooga / North GA TN - Knoxville / East Tennessee TX - Austin TX - Bryan / College Station TX - Central TX - East TX - Houston TX - Lubbock TX - Victoria County UT - Salt Lake City VA - Lynchburg WA - Clark County WA - King County WA - South Puget Sound WA - Tacoma WI - Madison INTERNATIONAL MARKETS Bermuda Canada - Ontario (Eastern) Canada - Greater Toronto Area Canada - Waterloo Region Czech Republic France Greece Ireland Mexico - Mexico City Per - Lima Puerto Rico Spain 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 41 41 42 42 43 43 44 44 45 45 46 46 47 47 48 48 49 49 50 50 51 51 52 53 53 54 54 55 55 56 56 57 57 58 58
AL - Huntsville
DEMOGRAPHICS
CBSA Dothan, AL
MARKET HIGHLIGHTS
New Medical school broke
DEMOGRAPHICS
CBSA Huntsville, AL
MARKET HIGHLIGHTS
Target adds third store to
Square Miles
1,718
ground with the first class to be admitted in August 2013. $40 million has been secured for the first phase of construction. Dothan market with 70% of patients traveling from outside of Dothan. the lowest in the nation.
market.
57,785
Kroger, a hospital, three strip centers and more, are under construction. prices are slightly lower.
166,785
$58,837
$76,572
58,833
174,427
Unemployment
7.1%
Unemployment
6.4%
CONTACT
Coldwell Banker Commercial Alfred Saliba Realty 410 N. Shady Ln. Dothan, AL 36303 (334) 793-6600 www.alfredsalibacommercial.com
CONTACT
Coldwell Banker Commercial McLain Real Estate 2800 Bob Wallace Ave. S.W. Huntsville, AL 35805 (256) 533-3414 www.mclaincommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
AL - Montgomery
AR - Hot Springs
DEMOGRAPHICS
CBSA Montgomery, AL
MARKET HIGHLIGHTS
Hewlett Packard leased 60,000
DEMOGRAPHICS
CBSA Hot Springs, AR
MARKET HIGHLIGHTS
Eldercare relocated to their new
Square Miles
2,725
rise with bank foreclosures, REO offerings and a general reduction in demand. completed a new 400,000 SF Class A building downtown. Warehouse space began to see some tightening. Retail space is recovering as well. One new 200+ Unit Apartment Complex was completed in East Montgomery. continues to struggle, except for one bright spot of new development that is selling new homes at bargain prices due to sales of shovel ready but foreclosed upon REO subdivisions. recover and looking to get back to investing in the new economy. money into the CBD, and tenants are rewarding them with the first look.
Square Miles
677
facility in late 2011. PetSmart, Mattress King and New Life Christian Book Store opened new locations in Fairgrounds Crossing. to rise and new tenants are interested in smaller suites. Several landlords have provided tenant improvements and divided large suites. School for Math and Science Living Center is nearing completion. A new Apartment project has been approved for construction in the Hwy. 70 West area. residential sales volume in 2012. Sales prices continue to remain steady, particularly in lakefront properties. their operation in Hot Springs. Land has been purchased for the new county jail and construction is scheduled to begin this year. underway in Mid-America Industrial Park. One of the companies is a new entity to Garland County.
Population
367,157
147,017
43,175
$68,657
144,160
32,750
Unemployment
7.7%
CONTACT
Coldwell Banker Commercial Moore Company Realty 121 Coosa St., Suite 250 Montgomery, AL 36104 (334) 262-1958 www.cbcmcr.com
CONTACT
Coldwell Banker Commercial RPM 401 Section Line Rd., Suite F Hot Springs, AR 71913 (501) 520-4000 www.cbcrpm.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
AR - Little Rock
CA - Humboldt County
DEMOGRAPHICS
CBSA Little RockNorth Little Rock Conway, AR
MARKET HIGHLIGHTS
A 3-building complex was
DEMOGRAPHICS
CBSA Eureka Arcata Fortuna, CA
MARKET HIGHLIGHTS
Wal-Mart to open its first store in
acquired from Verizon Wireless by local investors and offered to market as new multi-tenant inventory. SF of positive absorption in 4th Quarter of 2011. chain entered the market for major expansion and opened two stores in 4Q 2011.
Humboldt County in 2012. Shell has proposed construction of a 25 turbine wind farm.
Square Miles
3,572
Square Miles
4,090
Population
130,076
Population
690,456
Safeway store completed in 2011 and 100,000 SF hospital addition to be completed in spring of 2012. commercial real estate slowly improved in 2011. Total commercial sales volume in 2011 increased by 5% from 2010 & Multi-Family sales volume is slightly up. Leasing remained strong in 2011. Although Retail & Warehouse rents decreased while Office rents were up significantly. listings in 2011 was slightly higher than the previous year. However, the sold median residential price was down slightly, as were residential rental rates. Humboldt Countys unemployment rate was slightly lower than the state average in 2011. The largest employers include Humboldt State University, St. Joseph Hospital and County of Humboldt.
Confidence in investing in
276,042
fulfillment center and brought 300 jobs to area. made $100 million investment and created 140 jobs in Saline County. the 6th best mid-size city for jobs and the 14th best metro for young professionals.
$53,630
36,951
Unemployment
10.6%
Unemployment
6.5%
CONTACT
Coldwell Banker Commercial Hathaway Group 2100 Riverdale Rd., Suite 100 Little Rock, AR 72202 (501) 663-5400 www.hathawaygroup.com
CONTACT
Coldwell Banker Commercial Pacic Partners Real Estate 1036 5th St., Suite A Eureka, CA 95501 (707) 442-2222 pacicpartnerscommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
N/A
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DEMOGRAPHICS
CBSA RiversideSan BernardinoOntario, CA
MARKET HIGHLIGHTS
Strongest property sector is
DEMOGRAPHICS
CBSA RiversideSan BernardinoOntario, CA
MARKET HIGHLIGHTS
Macys was announced as a new
Multi-Family investments.
Square Miles
27,260
for apartment buildings in this market. by builders and developers for Multi-Family and Manufacturing properties. over 1 million SF. over 1 million SF.
JCPenney announced it is
Square Miles 27,260
1,156,307
Unemployment
7.8%
Unemployment
11.9%
CONTACT
Coldwell Banker Commercial NRT-Southern California 1081 North Palm Canyon Dr Palm Springs, CA 92263 (949) 280-2530 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Real Estate Solutions 15500 W. Sand St., 2nd Floor Victorville, CA 92392 (760) 684-8000 www.cbcdesert.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Los Angeles
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Owner-users are purchasing
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Strongest property sectors are
buildings.
Square Miles
4,850
Square Miles
4,850
Multi-Family, single-tenant NNN investments, Medical Office and Industrial (due to the scarcity of the product and ability to convert to creative office uses). the Santa Monica-Venice creative corridors, Beverly Hills, West Hollywood and Brentwood. and financing is readily available. Cap rates in A/B areas are 4%-5%, B/C areas range from 4.75%-6.5%. much of it chasing similar product well located property with strong tenants and/or upside potential. Most investors continue to be risk-averse and opt for lower returns on less risky investments. opportunities to build with several-hundred-thousand SF of Multi-Family, creative Office and Mixed-Use developments in the pipeline, slated to come on line in 2013-2015.
demand.
$87,517
$87,517
5,313,010
5,313,010
Unemployment
10.6%
Unemployment
10.6%
CONTACT
Coldwell Banker Commercial WESTMAC 1515 S. Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700 www.westmac.com
CONTACT
Coldwell Banker Commercial NRT - Los Angeles 11999 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 Single family/condo market is (310) 820-6651 trending upwards with more offer www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Modesto
DEMOGRAPHICS
CBSA Modesto, CA
MARKET HIGHLIGHTS
Stanislaus County is located in
DEMOGRAPHICS
CBSA Salinas, CA
MARKET HIGHLIGHTS
Hampton Brown/National
Square Miles
1,494
the Central Valley. Its county seat is Modesto, which is where many people in the surrounding areas shop. AG-related, employing approximately 18,000 people or 11.3% of the total 160,000 people that are employed. Unemployment varies based on the fact that most of the AG jobs are seasonal. located have been attracting new tenants with some major remodeling. Due to lack of new construction, the vacant space has been absorbed as needs arise. Kaiser Permanente built a major hospital complex with Memorial Hospital making a major expansion. the government sector based on tax assessments being lowered by a downturn in real estate values. Leveling out has occurred and all are hoping real estate prices will start to rise in 2012. This will only come if the unemployment in the area starts to decline. in good centers and locations.
Square Miles
3,322
Geographic vacated a large portion (approximately 30,000 SF of space) on Carmel Rancho Blvd., Carmel and relocated to Ryan Ranch Business Park, Monterey. relocated to a 40,000 SF space in the Santa Lucia Shopping Center, Greenfield, CA on a 10 year lease deal. in downtown Carmel-by-theSea, where demands are up and rents per SF are up. Khakis just relocated to Carmel. Core Center, is looking at a new plan. The city and business community is focused and moving forward with a redevelopment plan to increase the Mixed-Use properties and a large conference service expansion. There are currently 2-3 major projects in the work for this area. slightly down, and there is a large amount of Office space available. are stabilizing in residential.
Population
413,103
167,008
133,220
$63,534
140,743
120,633
Unemployment
16.1%
CONTACT
Coldwell Banker Commercial Vinson Chase, Realtors 220-C Standiford Ave. Modesto, CA 95350 (209) 577-2121 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Carmel 3775 Via Nona Marie Carmel, CA 93923 (831) 626-2200 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
Vacancy
OFFICE
Vacancy
RETAIL
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Monterey Peninsula
CA - Orange County
DEMOGRAPHICS
CBSA Salinas, CA
MARKET HIGHLIGHTS
Tuesday Morning, a national
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Class A High Rise outperformed
tenant, leased 10,000 SF. vacancy in this market. this market. continues.
Square Miles
4,850
2050 Main Street in Irvine sold Sale-leasebacks are making a LA Fitness inked a 91,023 SF
Trend of the last few years The area has restricted access
Population
12,935,173
133,220
$86,472
to water; consequently new business activity is limited to what water is actually available on site.
4,288,080
long-term lease.
120,633 5,313,010
Unemployment
CONTACT
Coldwell Banker Commercial NRT - Carmel 3775 Via None Marie Carmel, CA 93923 (831) 626-2200 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Newport Beach 4 San Joaquin Plz., Suite 260 Newport Beach, CA 92660 (949) 644-1600 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - Redding
CA - Rowland Heights
DEMOGRAPHICS
CBSA Redding, CA
MARKET HIGHLIGHTS
Retail vacancy rate fell 2% in
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Team One Employment
2011.
Specialist (Skechers) closed its 3 locations in Ontario totaling 1.31m SF building as of 10/31/2011. confidence is making business owners downsize. Vacancy is still fluctuating. struggling because of REOs; the market is expecting the most foreclosure homes in 2012. the overall market unstable, but it is expected to see a clear turning point by the end of 2014. but pretty stable compared to other cities in U.S.
Square Miles
4,850
Distress/foreclosure
Households Household Income Average Employees (Total) 71,491
Population
12,935,173
$60,230
$87,517
53,468 5,313,010
Unemployment
CONTACT
Coldwell Banker Commercial C&C Properties 2155 Larkspur Ln. Redding, CA 96002 (530) 222-2011 www.cbcnorthstate.com
CONTACT
Coldwell Banker Commercial George Realty 19220 E. Colima Rd. Rowland Heights, CA 91748 (626) 457-2300 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
10
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - San Diego
DEMOGRAPHICS
CBSA San DiegoCarlsbad-San Marcos, CA
MARKET HIGHLIGHTS
Sales activity for Retail buildings
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Green Dot Corporation moved
is up and cap rates are down. rise in prices due to very low new construction activity. increased to 16.9%.
to Pasadena and leased 143,000 SF. and leasing additional space. Vacancy is slowly decreasing. Office buildings; however, no new Office developments have commenced construction. due to the local and regional tenant activity, which landlords are accepting in lieu of disappearing national credit activity. Multi-Family properties due to: 1) income 2) desire for conservative investments 3) low interest rates and financing availability.
Square Miles
4,200
4,288,080
1,227,936 5,313,010
Unemployment
CONTACT
Coldwell Banker Commercial NRT - La Mesa 9332 Fuerte Drive La Mesa, CA 91941 (619) 460-6600 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial North County 801 N. Brand Blvd., Suite 180 Glendale, CA 91203 (818) 334-1900 www.cbcnco.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
11
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CA - San Francisco
DEMOGRAPHICS
CBSA San FranciscoOaklandFremont, CA
MARKET HIGHLIGHTS
Salesforce.com has signed
DEMOGRAPHICS
CBSA Los AngelesLong BeachSanta Ana, CA
MARKET HIGHLIGHTS
Pricing and demand increasing
a 400,000 SF lease in San Francisco, the largest Office deal in the city in a decade. seen substantial growth and demand for public offerings.
Square Miles
2,473
Square Miles
4,850
Population
4,347,767
1,661,661
has rebounded slowly and will continue in Mission Bay, highlighted by the erection of UCSFs new medical center. properties remain flat, although the sales volume has increased. leaders such as Bank of America continue to face economic hardships, technology and biotech firms will continue to drive the citys employment and real estate market. vacancy rate was 14.7% in the fourth quarter of 2011, the ninth-lowest among 79 metropolitan areas. Asking rates in South of Market climbed 22% in the fourth quarter from a year earlier to $46 a SF, the fastest growth rate for that area since 2000.
4,288,080
Office and Retail. It will require increase in space demand and rates. leases 1-2 years early at current market rates. foreclosures partially due to large down payments. SBA is seeing more foreclosures due to low down payments in the 10-20% range. increasing with several in the pre-development stage.
$113,164
1,916,201
Unemployment
7.3%
Unemployment
11.6%
CONTACT
Coldwell Banker Commercial Westbay Real Estate Group 1575 Bayshore Hwy., Suite 100 Burlingame, CA 94010 (650) 344-4300 www.cbcburlingame.com
CONTACT
Coldwell Banker Commercial NRT - Arcadia 15 E. Foothill Blvd. Arcadia, CA 91006 (800) 445-5500 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
N/A
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
12
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CO - Western
DEMOGRAPHICS
CBSA Riverside-San BernardinoOntario, CA
MARKET HIGHLIGHTS
EB-5 money floods the market,
DEMOGRAPHICS
CBSA Grand Junction, CO
MARKET HIGHLIGHTS
Industrial sector leads all
Square Miles
27,260
Office vacancy is down, Retail lease rates are up. space was completed for Professional Hospital Supplys headquarters. leased to Abbott Laboratories under a 4 year agreement. dropped from 15% to 12.5%, building optimism in business owners.
Population
4,171,856
1,350,253
60,317
has not subsided. The economy is expected to be flat for the next year or two. emerging wine capital of Rocky Mountains.
$61,730
54,564
Unemployment
12.5%
Unemployment
9.0%
CONTACT
Coldwell Banker Commercial Sudweeks Group 27708 Jefferson Ave., Suite 201 Temecula, CA 92591 (951) 200-7683 www.cbcsuds.com
CONTACT
Coldwell Banker Commercial Prime Properties, LLC 550 Patterson Rd., Suite B Grand Junction, CO 81506 (970) 243-7375 www.grandjunctioncommercial.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
13
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
CT - Faireld County
DEMOGRAPHICS
CBSA BridgeportStamfordNorwalk, CT
MARKET HIGHLIGHTS
Forever 21, Dicks Sporting
DEMOGRAPHICS
CBSA BridgeportStamfordNorwalk, CT
MARKET HIGHLIGHTS
Significant 2011 leases include:
Square Miles
626
Population
904,874
Goods, Cheesecake Factory and Brio have landed at the Danbury Fair Mall. General Motors Northeast Regional Sales Division occupied 26,000 SF of Class A Office space at The Matrix Corporate Center. PepsiCo has also chosen to locate in Danbury, with 10,665 SF of Class A Office space. due in part to low supply and an influx of commuting professionals now residing in neighboring Brewster, NY. Key transportation outlets allow them to commute to lower Fairfield County, New York City and Boston, while enjoying a more affordable lifestyle locally. $33.8M / 95,000 SF Armed Forces Reserve Center in Danbury, CT. Brookfield, CT. Costco (12,000 SF) is increasing existing building by 15,000 SF and will also construct a gas station on abutting 1.25 acre pad site. Danbury Regional Hospice to construct a 30,000 SF center.
Square Miles
626
Population
904,874
Largest Industrial - 275k SF, NBC Sports at The Campus (former Clairol site); Largest Offices are 230k SF for Bridgewater Assoc at 20 Westport Rd and GE Asset Mgmt expanded from Stamford Sq. w/ 147k into 158k SF at 1600 Summer St. vacant-sublease space decreased across the board. Office went from 860k SF to 599k SF, Industrial from 111k SF to 74k SF and Retail from 50k SF to 16k SF. completed was 950k SF; 547k SF of Office, 148k SF of Industrial and 254k SF of Retail. commercial space in Fairfield County with 67M SF of Office; 58M SF of Industrial and 47M SF of Retail. increased by 30% over 2010 and Connecticut is the 15th most popular state for a Fortune 500 corporate headquarter locations.
336,733
$149,604
$149,604
419,437
Unemployment
6.0%
Unemployment
6.9%
CONTACT
CONTACT
Coldwell Banker Commercial NRT - CT 77 Old Ridgeeld Road Wilton, CT 06897 (203) 831-4187 www.cbcworldwide.com
Coldwell Banker Commercial Scalzo Group 2 Stony Hill Rd., Suite 101 Bethel, CT 06801 Despite lower mortgage rates, (203) 744-7077 single family home sales volume www.coldwellbankerscalzo.com
and pricing are down, remaining approximately 28% and 30% below the 2005 peak.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
14
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DE - Sussex County
FL - Alachua County
DEMOGRAPHICS
CBSA Seaford, DE
MARKET HIGHLIGHTS
Several national tenants are
DEMOGRAPHICS
CBSA Gainesville, FL
MARKET HIGHLIGHTS
266 Office lease listings totaling
currently in negotiations for space on Coastal Highway near Rehoboth. Sussex is starting to improve after more than three years in the doldrums.
811,790 SF are currently on the market. rate is $13.05/SF, a decrease of 1.87% since 4th Qtr 2010. the market 413 days.
Square Miles
938
Square Miles
1,223
Population
194,215
Population
261,674
construction is causing absorption of existing Retail and Office space. sales was up 9% for 2011.
113,545
$67,088
$15.14/SF, a decrease of 1.65% since 4th Qtr 2010. the market 530 days.
68,986
leading retiree destination for the mid-Atlantic states. are so low that many buyers think they are being quoted a monthly rate.
87,322
Unemployment
7.7%
Unemployment
7.6%
CONTACT
Coldwell Banker Commercial Resort Realty 20184 Coastal Hwy. Rehoboth Beach, DE 19971 (302) 227-5000 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial M.M. Parrish Realtors 3870 N.W. 83rd St. Gainesville, FL 32606 (352) 264-3800 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
N/A N/A N/A
Vacancy
INDUSTRIAL
N/A N/A N/A
15
Vacancy
MULTI-FAMILY
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
FL - Jacksonville
DEMOGRAPHICS
CBSA Deltona Daytona Ormond Beach, FL
MARKET HIGHLIGHTS
Daytona Beach International
DEMOGRAPHICS
CBSA Jacksonville, FL
MARKET HIGHLIGHTS
EverBank Financial Corporation
Airport reports that boardings are up and Jet Blue and Southwest are in discussions to begin service this year. are up and the Hospitality industry is seeing increased projections.
Square Miles
3,221
Square Miles
1,103
leased 270,000 SF, covering nine floors, at the AT&T Tower. The building will be renamed EverBank Tower. The move should help to revitalize the downtown area.
Population
495,625
$62,419
front Hotel/Motel operations are going through major renovations and upgrades, with multiple large ocean front property sales being completed for future development. across the country to be selected as a Forward Next Generation Learning Community.
518,910
$76,866
supermarket chain, agreed to buy Winn-Dixie Stores, Inc. for $560 Million. The new company will have around 687 grocery stores and a workforce of 63,000 in eight states throughout the Southeast. Parkway Apartment Complex is an indicator that the citys rental market is improving and should continue to trend upward in 2012. 2,000 employees in the first quarter of 2012, 40 to 50 of whom will be in their Jacksonville office. The restaurant industry was on the mend locally in 2011. New national and regional restaurant chains to the area include: Seasons 52, BJs Restaurant & Brewhouse, Logans Roadhouse, Smashburger, First Watch and Poes Tavern.
Unemployment
9.2%
Unemployment
10.1%
Embry-Riddle Aeronautical
CONTACT
Coldwell Banker Commercial Benchmark 570 Memorial Cir., Suite 300 Daytona Beach Ormond Beach, FL 32174 (386) 672-8530 www.cbcbenchmark.com
University of Daytona Beach has been selected as one of three Next-Gen test beds for the modernization of the National Airspace System. production square footage for their fiber optic and electrical interconnect systems.
CONTACT
Coldwell Banker Commercial Benchmark 4348 Southpoint Blvd., Suite 310 Jacksonville, FL 32216 (904) 281-1990 www.cbcbenchmark.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
16
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
FL - Lakeland / Winterhaven
DEMOGRAPHICS
CBSA LakelandWinter Haven, FL
MARKET HIGHLIGHTS
Several new Industrial users
DEMOGRAPHICS
CBSA SarasotaBradentonVenice, FL
MARKET HIGHLIGHTS
Ringling Brothers & Barnum &
Square Miles
2,010
Bailey Circus are bringing their Headquarters back to Manatee County. Sarasota have increased.
businesses is helping small space occupancy in Retail and Office. and Polk Parkway is in first phase of construction. increased demand for Apartments.
Square Miles
1,313
Population
599,564
Population
689,676
233,208
the commercial market has hit bottom. the country and a pro business attitude.
attractive rates for commercialindustrial loans; increasing demand for owner-user commercial space. Haven is fully operational and attendance is meeting expectations.
Unemployment
10.7%
Unemployment
9.8%
CONTACT
Coldwell Banker Commercial Saunders Ralston Dantzler Realty 114 N. Tennessee Ave. Lakeland, FL 33801 (863) 648-1528 www.srdcommercial.com
CONTACT
Coldwell Banker Commercial NRT - Sarasota 100 N. Tamiami Trl. Sarasota, FL 34236 (941) 925-8586 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
17
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
FL - South
DEMOGRAPHICS
CBSA Port St. Lucie, FL
MARKET HIGHLIGHTS
Government tenants are
DEMOGRAPHICS
CBSA Miami-Fort LauderdalePompano Beach, FL
MARKET HIGHLIGHTS
Absorption is up across all
demanding improvements and some landlords cannot finance the construction. at rents of approximately 35% of 2008. County.
sectors.
Multi-Family investment is
Square Miles
1,128
Square Miles
5,126
Population
407,361
Population
5,566,404
169,340
$74,600
or buildings in 2005 cannot refinance their notes. They find their property is now worth 50% of 2005 and are losing ownership. (Vaccine and Gene therapy Institute) and Digital Domain have all opened large biotech labs in last 18 months. Outlook for better jobs in future.
sales as an option.
117,662
2,069,525
Unemployment
11.2%
Unemployment
9.7%
CONTACT
Coldwell Banker Commercial NRT - Port St. Lucie 1973 S.W. Savage Blvd. Boca Raton/Port St. Lucie, FL 34953 (561) 995-7564 www.stluciewestcommercialrealestate.com
CONTACT
Coldwell Banker Commercial NRT - Boca Raton 1800 N.W. Corporate Blvd. Boca Raton, FL 33431 (561) 479-1225 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
18
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
FL - Southwest
DEMOGRAPHICS
CBSA Naples-Marco Island, FL
MARKET HIGHLIGHTS
Now is the time to buy in SW
DEMOGRAPHICS
CBSA Tampa-St. PetersburgClearwater, FL
MARKET HIGHLIGHTS
Tampa ranked as the third best
Florida. Many properties are at 20 year lows and are far below replacement cost. Office and Industrial. around.
Square Miles
2,025
performing large metropolitan areas for job growth in the nation, according to a report released by Headlight LLC.
Square Miles
2,554
Population
320,101
Population
2,757,566
132,487
ranked first in the nation for its workforce in CNBCs fourth annual Americas Top States for Business rankings. the most cost-competitive large city for doing business among 22 major U.S. cities. The ranking was based on a variety of business operating costs including labor, taxes, real estate and utilities (KPMG, 4/2010). absorption since 2005.
upward.
$118,854
$67,904
115,960 1,059,081
Unemployment
CONTACT
Coldwell Banker Commercial NRT - Naples 550 Fifth Ave. S. Naples, FL 34102 (239) 596-6130 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial NRT - Tampa 5010 W. Kennedy Blvd., 2nd Floor Tampa, FL 33609 (813) 286-2964 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
19
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DEMOGRAPHICS
CBSA Key West, FL
MARKET HIGHLIGHTS
Border Patrol Office and Winn-
DEMOGRAPHICS
CBSA Sebastian Vero Beach, FL
MARKET HIGHLIGHTS
Market is showing slow
improvement.
unemployment rate in Florida; hotel occupancy and ADR is the highest in the State. Holiday Inn Express opened recently.
Square Miles
503
Population
73,047
32,553
59,807
$98,489
financing due to bank financing challenges. distribution location 300 miles from 80% of the states population.
29,685
Unemployment
6.2%
Unemployment
11.4%
CONTACT
Coldwell Banker Commercial Schmitt Real Estate Company 11050 Overseas Hwy. Marathon, FL 33050 (305) 743-5181 www.commercialoridakeys.com
CONTACT
Coldwell Banker Commercial Ed Schlitt, L.C. 1950 U. S. Hwy. 1 Vero Beach, FL 32960 (772) 778-1801 cbc.coldwellbanker.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
20
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
GA - Athens
DEMOGRAPHICS
CBSA Athens-Clarke County, GA
MARKET HIGHLIGHTS
Notable commercial growth
DEMOGRAPHICS
CBSA Atlanta-Sandy Springs Marietta, GA
MARKET HIGHLIGHTS
The Atlanta Office market ended
Square Miles
1,031
Population
193,495
includes the opening of a new LEED certified downtown Athens parking deck. The 265,000 SF facility includes 540 parking spaces, as well as Retail space, Offices, and a rooftop garden. The project represents the first public-private partnership in Athens. House, Fuzzys Taco Shop, Yoforia, Momma Goldberg Deli and Partner Software. in Oconee County along the newly completed Oconee Connector/Jennings Mill Pkwy extension off GA Hwy 316. The Georgia DOT helped fund the $13.6 million project, which has already resulted in developers submitting plans for future commercial projects.
Square Miles
8,376
Population
5,521,582
2011 with its strongest quarter of Office absorption in 4.5 years. Office occupancy increased by 556,476 SF in the fourth quarter, bringing the 2011 year end total to just over 811,000 SF. All space types and the market as a whole are 17.8% vacant. submarkets, accounting for almost all of 2011s space absorption. Six of the top ten largest move-ins of the year occurred in the fourth quarter. construction was up in Office, Retail and Industrial. downtown space; Regions Bank consolidated from multiple Offices across the market into 80,000 SF at Atlantic Center Plaza in Midtown; and the Reznick Group consolidated Offices into 77,049 SF in Buckhead.
77,486
$57,618
$77,990
60,760
Unemployment
7.3%
CONTACT
Coldwell Banker Commercial Upchurch Realty 2405 W. Broad St. Athens, GA 30606 (706) 354-7870 www.upchurchrealtycommercial.com
CONTACT
Coldwell Banker Commercial The foremost trend in the Office Metro Brokers market in 2011 was the flight 3575 Piedmont Rd. N.E., Piedmont Center, Bldg. 15, to quality by tenants. Tenants Suite 950 chose Class A properties Atlanta, GA 30305 overwhelmingly, taking (678) 320-4800 advantage of favorable rental www.cbcworldwidemetro.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
21
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
GA - Atlanta MSA
DEMOGRAPHICS
CBSA AtlantaSandy Springs Marietta, GA
MARKET HIGHLIGHTS
The overall market continues to
DEMOGRAPHICS
CBSA Greene County, GA
MARKET HIGHLIGHTS
Overall market pricing is
Population
5,521,582
28 counties, over 7 million in population and includes the worlds busiest airport, superior intermodal connections, making it the distribution hub for the southeast. one of the biggest emblems of Atlantas Real Estate Boom, was sold at auction for $250 million. important changes to flood hazard maps are underway. These changes may impact closings and existing loans for residents and business owners. giant lease consolidating in a building that once housed consumer giant Unilever. Owings Corning will occupy a little more than 1 million SF in the building. developing a 900,000 SF distribution center in Henry County.
in this market.
Population
21,218
8,601
$71,671
$77,990
5,263
& Technology Park is currently under construction. The project, partially funded by a $500,000 grant from Georgia One, consists of 130-acre tract of Land planned for 21 parcels to be marketed for small to medium-sized technology companies. tri-county trade area, including Morgan, Greene and Putnam Counties. The area is a resort area with two recreational lakes (Oconee and Sinclair).
2,223,339
Unemployment
9.4%
CONTACT
Coldwell Banker Commercial NRT - Atlanta 6285 Bareld Rd. Atlanta, GA 30328 (404) 705-1590 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Lake Country 1020 Greensboro Rd. N.E., Eatonton, GA 31024 (706) 485-0124 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
22
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
GA - Savannah
HI - Honolulu
DEMOGRAPHICS
CBSA Savannah, GA
MARKET HIGHLIGHTS
Full steam ahead for Mitsubishi
DEMOGRAPHICS
CBSA Honolulu, HI
MARKET HIGHLIGHTS
Hawaiis economy remains
healthier than the Continental U.S. However, it is slowing due to stagnant labor markets and limited construction. Tourism remains a bright spot posting a record spending of $1.3 billion in 2011. replay of 2011 for 2012, with only military and government projects being awarded, attracting out-of-state firms to compete for these contracts. rose to 6.6% with 41,900 unemployed. This is expected to increase due to HMC layoffs. sales are expected to increase over 2011 as capital freeze thaws. Significant sales in 2011 include: Pearlridge Uptown II for $36.7 million, $42.5 million for portion of leased fee under Hyatt Hotel Waikiki.
Population
910,677
Hawaiis construction is a
$83,803
129,296
365,718
CONTACT
Coldwell Banker Commercial Platinum Partners 128 Habersham St. Savannah, GA 31401 (912) 232-7120 www.cbcplatinum.com
CONTACT
Coldwell Banker Commercial NRT- Honolulu 737 Bishop St., Suite 2000 Honolulu, HI 96813 (808) 526-0896 www.cbcpacic.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
23
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
ID - Boise
ID - Kootenai County
DEMOGRAPHICS
CBSA Boise CityNampa, ID
MARKET HIGHLIGHTS
Grocery store expansion
DEMOGRAPHICS
CBSA Coeur dAlene, ID
MARKET HIGHLIGHTS
Major Industrial employer
Square Miles
11,788
remains on the forefront of the Retail market for the Treasure Valley. New to the market are Whole Foods and Rosauers. Fred Meyer and Wal-Mart continue to expand. throughout 2011, ending the year 12.3% across the Treasure Valley. construction in over 5 years. CenterCal Properties broke ground on 1 million SF of Retail and Restaurant space on a 100acre Retail site. with home sales increasing by 34% in 2011. Realtor.com ranked Boise as #8 in the Top 10 turn-around towns.
expanding to include 85,000 SF building and 125 additional employees. technology center, has been approved by voters in 3 districts. Interchange in Post Falls will increase access to retail area. increasing due to the economy. New construction of apartments is underway. for a new hospital residency program. sold doubled 2010 figures.
Square Miles
1,245
Population
610,611
Population
140,628
224,823
232,386
49,226
CONTACT
Coldwell Banker Commercial NRT - Boise 4105 N Legacy Woods Ave. Meridian, ID 83646 (208) 888-1825 www.coldwellutah.com
continue to be less favorable for tenants. Class A space remains in high demand. all display positive signs that Boise will show resurgence in the Investment market.
CONTACT
Coldwell Banker Commercial Schneidmiller Realty 2000 Northwest Blvd. Coeur dAlene, ID 83814 (208) 765-4300 www.cbcsr.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
24
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
IL - Bloomington / Normal
IL - Champaign / Urbana
DEMOGRAPHICS
CBSA BloomingtonNormal, IL
MARKET HIGHLIGHTS
State Farm Insurance plans to
DEMOGRAPHICS
CBSA ChampaignUrbana, IL
MARKET HIGHLIGHTS
The local CRE market appears to
Financing is available for owner Student housing remains a hot The unemployment rate has 2012 looks to be another year of
97,325
$61,774
69,980
steady improvement.
80,156
Unemployment
7.0%
Unemployment
7.9%
CONTACT
Coldwell Banker Commercial Heart of America Realtors 802 S. Eldorado Rd. Bloomington, IL 61704 (309) 662-3377 www.cbhoacommercial.com
CONTACT
Coldwell Banker Commercial Devonshire Realty 201 W. Springeld Ave., 11th Floor Champaign, IL 61820 (217) 352-7712 www.cbcdr.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
25
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
IL - Chicagoland
IL - Springeld
DEMOGRAPHICS
CBSA Chicago NapervilleJoliet, ILIN-WI
MARKET HIGHLIGHTS
The Chicago Industrial market
DEMOGRAPHICS
CBSA Springeld, IL
MARKET HIGHLIGHTS
Scheels opened a 200,000 + SF
Square Miles
7,212
Population
9,617,804
continued to improve in the 4th quarter of 2011. There was 1,550,000 SF of net absorption in the 4th quarter. The largest leases signed in 2011 were Clorox for 1,350,000 SF, Home Depot for 658,000 SF, 3M for 651,000 SF and Samsung for 649,000 SF. and Office space decreased in the 4th quarter of 2011 while the vacancy rate for Retail increased. The main reasons for the lower vacancy rate in Industrial and Office are because several large blocks of space were leased and there was virtually no new construction. new construction of Retail, Industrial or Office space in 2011 and almost all of the new construction completed has been build-to-suits or space that was pre-leased. continues to struggle for sales of single family homes and condominiums. However, the Apartment market continues to flourish with low vacancies and increasing rents. There are also several new high end Apartment buildings being built.
store.
stability because of a large work force employed by the medical community and State Government. approximately $180,000,000 in new development and redevelopment of its campus. This adds jobs to the medical community and to other sectors of the economy. up from previous year and continues to improve.
Population
208,696
87,497
$70,814
$88,029
4,186,171
stability of work force and the large area of Central Illinois that the Springfield market services. approximately 3 hours from Chicago, 1 1/2 hours from St. Louis and has Interstate 55 that goes from St. Louis to Chicago and Interstate 72 that runs from Eastern Illinois through Champaign to Missouri. The town is centrally located for all types of commercial activity.
Springfield is located
CONTACT
Coldwell Banker Commercial NRT - Northbrook 2215 Sanders Rd., Suite 350 Northbrook, IL 60062 (847) 313-4646 www.cbcnrt.com
CONTACT
Coldwell Banker Commercial Devonshire Realty 3201 Old jacksonville Rd. Springeld, IL 62711 (217) 546-6650 www.cbcdr.com
OFFICE
Vacancy
RETAIL
Vacancy
OFFICE
Vacancy
RETAIL
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
26
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
KY - Louisville Metro
DEMOGRAPHICS
CBSA Kansas City, MO-KS
MARKET HIGHLIGHTS
The Kansas City Metro
DEMOGRAPHICS
CBSA Louisville/ Jefferson County, KY-IN
MARKET HIGHLIGHTS
Demand for Apartments
manufacturing sector saw a 2.8% employment growth in 2011. on investing $1.1 billion in the metro area. Income is $107,505.
remains high.
Square Miles
7,857
Square Miles
4,135
New construction activity is There are plenty of Retail The Office market remains flat.
Population
2,076,653
Population
1,263,217
819,900
506,857
$107,505
remained stable.
$71,165
914,989
549,941
Unemployment
CONTACT
Coldwell Banker Commercial Fishman and Company 1948 E. Santa Fe St. Olathe, KS 66062 (913) 782-9000 www.cbcshman.com
CONTACT
Coldwell Banker Commercial McMahan Co. 6402 Railroad Ave. Crestwood, KY 40014 (502) 241-8811 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
27
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
KY - Southern
LA - Lafayette
DEMOGRAPHICS
CBSA Bowling Green, KY
MARKET HIGHLIGHTS
Kentucky Transpark located in
DEMOGRAPHICS
CBSA Lafayette, LA
MARKET HIGHLIGHTS
Oil industry both onshore and
Bowling Green, KY, was chosen as a national CSX Select Site. Location for Business and Careers in Forbes Annual Survey.
Square Miles
848
Square Miles
1,010
buildings are available in market area. Industrial new construction with high demand and low availability for either sale or lease. decreased.
Population
121,646
Population
264,966
50,840
101,487
$61,970
the Minor League Baseball Team - Bowling Green Hot Rods. continues to grow with Southern Kentucky Performing Arts Center (SKYPAC).
50,727
being absorbed.
Unemployment
7.3%
CONTACT
Coldwell Banker Commercial Legacy Real Estate Group 2435 Fitzgerald Industrial Dr., Suite 100 Bowling Green, KY 42104 (270) 781-3844 www.cbclegacy.com
CONTACT
Coldwell Banker Commercial Pelican Real Estate 806 E. Saint Mary Blvd. Lafayette, LA 70503 (337) 233-9541 www.cbcpelican.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
28
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
LA - New Orleans
ME - Midcoast
DEMOGRAPHICS
CBSA New Orleans- Metairie Kenner, LA
MARKET HIGHLIGHTS
Oschner Hospital continued expansion by signing an 80,000 SF Office lease in the recently renovated Benson Tower adjacent to the Mercedes-Benz Superdome. Retail and Office due to continued reductions in space by tenants and the addition of several large properties in the area. System is underway with the construction of a 424-bed Hospital facility in New Orleans. seen an increase in occupancy and rental rates, while single family inventory has fallen and pricing seems to be stabilizing or increasing depending on location. been perceived as an obstacle to growth, but is now the reason why so many young and entrepreneurial people are seeking this city to conduct business and raise a family. Louisiana exports increased 45% in 2011, which is the most of any state in the country, placing 7th among all states for export volume in the United States.
DEMOGRAPHICS
CBSA Rockland, ME
MARKET HIGHLIGHTS
Super Wal-Mart, McDonalds
Square Miles
3,153
Square Miles
366
Wal-Mart moving out of their existing space into a much larger building. 150,000 SF Center.
Population
40,753
469,474
17,284
$83,382
$65,601
15,971
Unemployment
6.4%
Unemployment
7.0%
CONTACT
Coldwell Banker Commercial TEC Realtors 701 Loyola Ave., Suite 401 New Orleans, LA 70150 (504) 566-1777 www.cbctec.com
CONTACT
Coldwell Banker Commercial SoundVest Properties 147 Park St. Rockland, ME 04841 (207) 596-7478 www.soundvest.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
29
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MI - Middle
MN - Mankato
DEMOGRAPHICS
CBSA Lansing-East Lansing, MI
MARKET HIGHLIGHTS
General Motors has added a
DEMOGRAPHICS
CBSA MankatoNorth Mankato, MN
MARKET HIGHLIGHTS
Efforts by community leaders
third shift with production of the new Cadillac, creating over 600 jobs. its budget under control, and has found a surplus for 2012.
are paying off as vacancy in the City Center is at the lowest rate in more than a decade. Verizon Civic Center will further enhance downtown vitality. to be focused on trucking and agriculture-related businesses. continue to be sluggish.
Square Miles
1,707
Square Miles
1,205
Population
453,378
Population
93,650
184,334
behind, but the new Broad Art Museum is scheduled to open this fall. have made an upward turn with January sales 40% greater than in 2011. improved for the first time in five years.
39,391
165,594
49,122
lower than other Minnesota MSAs, with very little change in absorption during the recession. space continues to be in demand as regional residents look to the community to provide services previously only offered in Rochester or the Twin Cities metro area.
Unemployment
6.9%
CONTACT
Coldwell Banker Commercial Hubbell Briarwood 1020 S. Creyts Rd. Lansing, MI 48917 (517) 321-5000 www.cbcworldwide.com
state government seems to be on solid footing, Michigan State University is continuing with the new Cyclotron, and employment is now below the national average in Mid Michigan.
CONTACT
Coldwell Banker Commercial Fisher Group 1400 Madison Ave., Suite 616 Mankato, MN 56001 (507) 625-4715 www.cbcshergroup.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
30
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DEMOGRAPHICS
CBSA MinneapolisSt. PaulBloomington, MN-WI
MARKET HIGHLIGHTS
Chart industries leases 141,000
DEMOGRAPHICS
CBSA St. Cloud, MN
MARKET HIGHLIGHTS
Construction is underway for
a Wal-Mart Super Center to be completed Fall 2012. and a decline in the local unemployment rate to 5.8%. completed in Winter 2011. area is at a 5 year low.
Square Miles
1,753
Population
3,286,547
Population
189,957
Recent Civic Center expansion Existing home inventory in local Market is heating up for quality
73,818
1,267,913
buildings were acquired by Duke. expansions for over 1 million SF. 32 high Industrial and Multi Family. medical user demand.
$66,444
91,676
investment offerings, also REO and distressed properties, and strategic buyers account for majority of transactions.
of 300,000+/- MSA. Major local employment sectors include Education, Medical and Manufacturing.
CONTACT
Coldwell Banker Commercial Grifn Companies 1221 Nicollet Ave. S., Suite 300 Minneapolis, MN 55403 (612) 338-2828 www.cbcgrifn.com
CONTACT
Coldwell Banker Commercial Orion Real Estate 630 1st St. S. Waite Park, MN 56387 (320) 251-1177 www.cbcorion.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
31
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MO - Springeld Area
MO - St. Joseph
DEMOGRAPHICS
CBSA Springeld, MO
MARKET HIGHLIGHTS
Mercy Health started
DEMOGRAPHICS
CBSA St. Joseph, MO-KS
MARKET HIGHLIGHTS
St Joseph is located just 35
Square Miles
3,010
Population
433,579
construction on a 199,000 SF, $105 million Orthopedic Hospital. Wal-Marts Neighborhood Market is building 6 new grocery stores. The Wonder of Wildlife Museum is continuing their $80 million expansion/renovation. Solutions just finished their 60,000 SF, $10 million headquarters office building. Hy-Vee Grocery store opened its first Springfield location a $17 million 86,000 SF store.
Square Miles
1,661
Population
127,090
minutes north of the Kansas City International Airport on the Missouri River. It has access to I-29, a major north-south Interstate Highway providing a corridor between Mexico and Canada and US Hwy 36, which is the major east-west route thru Northern Missouri. the Life Sciences Industry with over 30 of the major companies located here. is expanding and building a 100,000 SF Office building.
$56,651
$55,753
and has weathered the turmoil with better numbers than the national economic indicators. dropped below 7% and ended the year at 6.7%. among American cities for job growth and named in a top five nationwide for economic strength. 9th in all metro area nationwide for job growth, a 4.4% increase over the last year with labor force numbers reaching over 223,500.
48,146
Unemployment
6.7%
is complete and offering excellent Industrial building sites. A 60,000 SF shell building is planned to be built in 2012. which serves civilian and military needs, is located 3 miles west of the city . It boasts two fully ILSequipped runways and provides capacity for any size aircraft.
CONTACT
Coldwell Banker Commercial Vanguard Realtors 1334 E. Republic Rd. Springeld, MO 65804 (417) 887-5950 www.cbcvanguard.com
CONTACT
Coldwell Banker Commercial General Properties 2700 N. Belt Hwy. St Joseph is served by the Union St. Joseph, MO 64506 (816) 364-2700 Pacific Railway and the Burlington www.cbcommercialgeneral.com Northern-Santa Fe Railway to
OFFICE
Vacancy
RETAIL
Vacancy
OFFICE
Vacancy
RETAIL
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
32
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
MT - Billings
NE - Lincoln
DEMOGRAPHICS
CBSA Billings, MT
MARKET HIGHLIGHTS
Sanjel moved into Billings in
DEMOGRAPHICS
CBSA Lincoln, NE
MARKET HIGHLIGHTS
Gallup Poll shows Lincoln, NE as
2012.
#2 on the List of 10 Happiest Cities. permits were pulled for Retail improvements in the 2nd half of 2011.
strong demand created by jobs in Energy, Retail and Medical. 220,000 SF Scheels Sporting Goods Store scheduled to open in 2014. New Volkswagen dealership scheduled to open Spring of 2012. has led to a stable residential market and increased demand for Multi-Family units. industries are driving growth. commercial hub to the Bakken oil boom.
Square Miles
1,414
Announcement of a new
Population 155,673
Population
299,958
63,905
126,751
expansion of Memorial Stadium have cranes busy in Lincoln. Cheddars, Vitamin Cottage, Pancheros, Toppers Pizza, Cherry Berry and many more.
69,806
142,514
have been improved due to the Antelope Valley Project. on a 2nd location in South Lincoln.
Unemployment
4.8%
Unemployment
3.6%
CONTACT
Coldwell Banker Commercial The Brokers 1215 24th St. W. Suite 240 Billings, MT 59102 (406) 656-2001 www.cbcmontana.com
CONTACT
Coldwell Banker Commercial Thompson Realty Group 620 N. 48th St., Suite 101 Lincoln, NE 68504 (402) 421-7700 www.cbcthompson.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
33
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NJ - Morris County
NJ - Northern
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Leasing activity remains slow,
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
Panasonic North America HQ is
but several large build-to-suits are in progress. to make leasing commitments, despite depressed lease rates. construction has increased. are achieving impressive sales prices due to demand and the availability of financing. shifting away from large corporate users toward smaller users as large corporations seek CBD locations. companies have operations in Morris County.
relocating to Newark.
Square Miles
6,726
Square Miles
6,726
Population
19,124,092
7,086,346
$95,352
$95,352
7,711,074
7,711,074
Unemployment
Unemployment
8.2%
CONTACT
Coldwell Banker Commercial Feist & Feist Realty Corp. 1100 The American Rd. Morris Plains, NJ 07950 (973) 829-1900 www.feistandfeist.com
CONTACT
Coldwell Banker Commercial NRT - Livingston 2 E. Mount Pleasant Ave. Livingston, NJ 07039 (888) 829-0221 www.cbcnrtnewjersey.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
34
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NM - Albuquerque Metro
DEMOGRAPHICS
CBSA Albuquerque, NM
MARKET HIGHLIGHTS
Lowes announces new Customer
DEMOGRAPHICS
CBSA Albany SchenectadyTroy, NY
MARKET HIGHLIGHTS
Friendlys closed 11 Capital
Support Center in Albuquerque - 60,000 SF, providing up to 600 new jobs. to northwest Albuquerque. First Dicks in the market. Albuquerque. First of several locations planned for the market. more locations in the ABQ / Rio Rancho market. Plans for additional stores in Rio Rancho and Santa Fe.
Square Miles
9,288
Square Miles
2,817
Population
863,887
Population
859,707
333,497
constructing a 500,000 SF NanoFab building for a coalition of companies including Global Foundries, IBM, Intel, Samsung and Taiwan Semiconductor Manufacturing Company. opening of its first store in the Albany market, taking over and renovating a former Office Max store. acquire a 460,000 SF facility in Cobleskill for new operations center. to dominate the real estate industry in the area with high demands and one of the lowest vacancy rates in the US at around 3%. Urban, Downtown Office space continues to be the weakest sector with blended vacancy rates climbing to 22.4%.
358,803
313,234
351,131
new projects ready to break ground, including a 240 unit Apartment complex and a 225 unit Senior complex both on the west side of ABQ. is building a new elementary school, new high school and sports complex on west side, including a new 7,000 seat football stadium.
Unemployment
6.9%
CONTACT
Coldwell Banker Commercial Las Colinas 4801 Lang Ave. N.E., Suite 100 Albuquerque, NM 87109 (505) 897-7227 www.lcrealty.com
CONTACT
Coldwell Banker Commercial Prime Properties 621 Columbia St. Cohoes (ALBANY), NY 12047 (518) 785-9000 www.coldwellbankeralbany.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
35
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NY - New York
DEMOGRAPHICS
CBSA NY-Northern NJ-Long Island
MARKET HIGHLIGHTS
The New York City business
DEMOGRAPHICS
CBSA Reno-Sparks, NV
MARKET HIGHLIGHTS
I-MAX Theaters and Lowes
Square Miles
6,726
district Office market ended the fourth quarter 2011 with the vacancy rate of 8.5 percent. Net absorption for overall New York City office market was a positive 1,000,478 SF. rental rate for available space, all classes, was $47.34 per rentable SF; this represented a 2% increase in quoted rental rates from the end of the third quarter. transactions for 2011 were Cond Nast publications for 1,046,260 SF; Nomura Securities International for 901,181 SF and Li & Fung for 482,399 SF. vacancy ended the fourth quarter at 1.9%, with net absorption at 125,302 SF. Retail rental rates have trended down over the past 10 quarters.
Population
19,124,092
Population
420,676
7,086,346
164,527
$95,352
7,711,074
208,488
Unemployment
8.2%
Unemployment
11.9%
CONTACT
Coldwell Banker Commercial Hunter Realty 1430 Broadway, 9th Floor New York, NY 10018 (212) 201-0260 www.cbchunterorg.com
CONTACT
Coldwell Banker Commercial Clay & Associates 5011 Meadowood Mall Way, Suite 201 Reno, NV 89502 (775) 829-5900 www.cbcreno.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
N/A N/A N/A
Vacancy
INDUSTRIAL
MULTI-FAMILY
36
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NC - Outer Banks
DEMOGRAPHICS
CBSA Wilmington, NC
MARKET HIGHLIGHTS
Wells Fargo Advisors Whole Foods begins
DEMOGRAPHICS
CBSA Kill Devil Hills, NC
MARKET HIGHLIGHTS
The economy of the Outer
consolidated offices to Mayfaire. construction on first store in Wilmington area. construction and is 100% preleased. Sun Coast Partners Team Silivanch leads the market in Retail leasing.
Square Miles
1,924
Square Miles
384
Banks area of North Carolina continues to be reliant upon the tourist community and associated demand: accommodations and food service, retail trade, and real estate sales and rentals. values showed a 24% increase from 2010. Notable new commercial projects in 2011 included a 158,000 SF Lowes and two new regional banks: First Bank and Towne Bank of Currituck. Outer Banks counties showed promising increases from 2010, even with the impact of Hurricane Earl just before Labor Day weekend. modest decline in 2011. Retail and food and beverage receipts were severely impacted by Hurricane Earl in August and September. continued to be flat, but steady. Buyers are taking advantage of the continued decline of median home prices, lower interest rates and the available inventory of resort and retirement homes.
151,270
14,352
$65,863
$76,503
126,764
stabilized and have had a slow turn upward over the last six months. outside of the market.
CONTACT
Coldwell Banker Commercial Sun Coast Partners, LLC 1430 Commonwealth Dr., Suite 102 Wilmington, NC 28403 (910) 350-1200 www.cbcsuncoast.com
CONTACT
Coldwell Banker Commercial Seaside Realty 4900 N. Croatan Hwy. Kitty Hawk, NC 27949 (252) 255-6596 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
N/A N/A N/A
Vacancy
Vacancy
37
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
NC - Research Triangle
NC - Winston-Salem
DEMOGRAPHICS
CBSA Raleigh-Cary, NC
MARKET HIGHLIGHTS
Vacancy fell from 16.18% to
DEMOGRAPHICS
CBSA WinstonSalem, NC
MARKET HIGHLIGHTS
Caterpillar is opening in 2012. Class A Office remains strong.
Square Miles
2,116
Flex users wanting to buy space rather than lease. expansions, there has been no new construction. the strongest submarket and Research Triangle Park has the highest vacancy. reporting increases in Class A Office rents. investment category with Class A Apartments trading at sub 5 cap rates.
Square Miles
1,462
Class B still suffers from a 22% vacancy rate. hospitals are scheduled for construction starting in 2012. has been moved up.
Population
1,143,659
452,721
$78,408
$65,788
Winston-Salem Downtown
185,107
Research Park to open new building for research and startups this spring.
Unemployment
9.1%
CONTACT
Coldwell Banker Commercial TradeMark Properties 1001 Wade Ave., Suite 300 Raleigh, NC 27605 (919) 782-5552 www.cbctmp.com
CONTACT
Coldwell Banker Commercial Triad, Realtors 285 S. Stratford Rd., Suite 351 Winston-Salem, NC 27103 (336) 761-5934 www.cbctriad.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
38
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
ND - Fargo / Moorhead
OR - Portland
DEMOGRAPHICS
CBSA Fargo, NDMN
MARKET HIGHLIGHTS
Western North Dakotas oil
DEMOGRAPHICS
CBSA Portland VancouverBeaverton, OR-WA
MARKET HIGHLIGHTS
Commercial vacancy within each
Square Miles
2,810
patch has boosted the Fargo/ Moorhead market, as well as the state of North Dakotas economy. Valley has been strong and commodity prices remain high.
Square Miles
6,684
sector decreased in the 4th Qtr 2011. Industrial vacancy lowered to 8% while Retail showed a slight improvement to 5.4%. Office remains in double digits at 10.4%. Square, which is now 94% occupied, delivered 250,000 SF including a 145,000 SF space for Fred Meyer. increased in 2011, averaging 8.2% compared to the same period in 2010 when they averaged 7.78%. underway at the end of 2011 include a fully pre-leased 135,000 SF FBI Building and a 98% preleased Meier & Frank Building consisting of 133,000 SF. from Marine Drive Center to a larger 275,000 SF facility at the I-5 Logistics Center in Wilsonville. Portlands increasingly tight Multi-Family market has motivated developers to start building especially targeting areas closer to the citys core with high demand and mass transit capabilities.
for a 300-bed, state-of-the-art, new hospital that will employ 2,700. continues to expand in the market due to the educated workforce. break ground in 2014, which shall spur development along I-29 in Fargo. the Multi-Family sector had a 4.3% vacancy rate, spurring investors to build more apartments.
878,239
$67,293
105,993
Unemployment
8.1%
CONTACT
Coldwell Banker Commercial First Realty 2731 12th Ave. S. Fargo, ND 58103 (701) 237-3369 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Mountain West Real Estate, LLC 2545 SW Spring Street, Suite 200 Portland, OR 97219 (503) 227-2934 www.cbcre.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
39
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
OR - Salem
PA - Central
DEMOGRAPHICS
CBSA Salem, OR
MARKET HIGHLIGHTS
Approximately 70 transactions
DEMOGRAPHICS
CBSA York-Hanover, PA
MARKET HIGHLIGHTS
Home Goods moved into the
Square Miles
1,925
in the major commercial sectors occurred in 2011, totaling nearly $136 million in the Salem-Keizer market. with no large swings finishing the year with 6.8% in Office, 6% in Retail and 8.6% in Industrial/ Flex. in the area were Multi-Family complexes, with the exception of Capitol City Business Center that was purchased by Government Properties Income Trust. ranged from 19 months to over 24 months. approximately one percent from 7.4% in 4Q 2010 to 8.6% at the end of 4Q 2011.
Manchester Crossroads.
Population
430,707
Pennsylvania market, vacancy has begun to fall. The one exception would be the Harrisburg Office market, but it has been speculated that too should begin to see improvement in the second quarter of 2012. is less expensive to buy existing buildings rather than build. Changes are on the horizon as developers are looking for sites. A new shopping center in Lancaster was announced and more are on the way. to see activity. Prices are expected to stabilize in the second quarter throughout central Pennsylvania. all areas.
148,354
169,750
$61,094
$65,260
119,269
168,402
CONTACT
Coldwell Banker Commercial Mountain West Real Estate, LLC 960 Liberty St. S.E., Suite 250 Salem, OR 97302 (503) 588-3508 www.cbcre.com
CONTACT
Coldwell Banker Commercial Bennett Williams 110 N. George St., 4th Floor York, PA 17401 (717) 843-5555 www.bennettwilliams.com
Pennsylvania. Hershey has its amusement park. Dauphin County is the state capital. Both Lancaster and York were, at one time, capitols of the United States. Reading, (Berks County), is known as the outlet capitol of the world.
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
40
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
PA - Northeastern
PA - Southwestern
DEMOGRAPHICS
CBSA ScrantonWilkes-Barre, PA
MARKET HIGHLIGHTS
The market has seen increased
DEMOGRAPHICS
CBSA Pittsburgh, PA
MARKET HIGHLIGHTS
Marcellus Shale related
Square Miles
1,747
activity due to Marcellus Shale Industry (Wyoming, Susquehanna, Pike & Wayne counties).
companies are moving into the area. Warehouses, Flex-Space are being sold and/or leased to drilling companies. space in the area is higher than the national average, and the vacancy rate is lower than the national average.
Square Miles
5,280
Industrial buildings,
College (TCMC) is still in the initial stages of development in Scranton. around Mohegan Sun Casino. economy; median home prices falling slightly. Scranton is taking place.
Population
2,355,582
991,049
$69,762
Revitalization of downtown
245,015
1,064,896
Unemployment
6.6%
CONTACT
Coldwell Banker Commercial Town & Country 651 Northern Blvd. Clarks Summit, PA 18411 (570) 587-5500 www.cbcworldwide.com
downtown Wilkes-Barre has rejuvenated the area and the $25 million Intermodal Transportation Center will add 752 parking spots, making the businesses along Public Square more accessible to patrons.
CONTACT
Coldwell Banker Commercial NRT - Pittsburgh 9600 Perry Hwy., Suite 200 Pittsburgh, PA 15237 (412) 548-1064 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
41
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
SC - Charleston
SC - Columbia
DEMOGRAPHICS
CBSA CharlestonNorth Charleston, SC
MARKET HIGHLIGHTS
TIG HITCO, an aviation supplier,
DEMOGRAPHICS
CBSA Columbia, SC
MARKET HIGHLIGHTS
Amazon opened a 1,253,748 SF
Square Miles
2,591
absorption of vacant space and there has been no new major developments. Medical buildings.
Square Miles
3,701
Population
751,082
very little new construction delivered in 2011. Retail led the way with a 4th quarter total of 389,889 SF. builders in 2008 are out of business.
$72,395
287,817
253,170
Unemployment
7.9%
dispute and will deliver its first Charleston 787 in the Spring to Air India.
Unemployment
8.0%
CONTACT
Coldwell Banker Commercial Atlantic International, Inc. 3506 W. Montague Ave., Suite 200 North Charleston, SC 29418 (843) 744-9877 www.cbcatlantic.com
CONTACT
Coldwell Banker Commercial United, Realtors 1711 Gervais St., Suite 300 Columbia, SC 29201 (803) 799-4663 www.cbccarolinas.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
42
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
SC - Greenville / Spartanburg
SC - Myrtle Beach
DEMOGRAPHICS
CBSA GreenvilleMauldin Easley, SC
MARKET HIGHLIGHTS
Amazon announced a $50 million
DEMOGRAPHICS
CBSA Myrtle BeachConwayNorth Myrtle Beach, SC
MARKET HIGHLIGHTS
New Target superstore with
PetSmart at Rt 17 and Rt 554. down in the economy and high unemployment. built in the market.
Square Miles
2,002
Population
644,419
263,044
development on Greenvilles Main St. will include: Haynsworth Law firm and the headquarters for newcomer Certus Bank. Additional downtown construction includes 90,000 SF Mixed-Use development. initiatives abound in support of demand for trained workers. Greenville is now home to Clemson MBA Program in addition to Clemson University International Center for Automotive Research, (CU;ICAR), Greenville Tech., ITT, and ECPI. Recent announcements also from USC and MUSC. South Financial and announced regional operational center with accompanying job growth. BMW will have another expansion with BMW supplier ZF announcing a 950,000 SF manufacturing facility. and suburban projects are scheduled, totaling 1,200 units.
Square Miles
1,134
110,858
in Residential and Multi-Family. hires new football coach which may lead to growth in student enrollment. remain strong and steady.
288,021
112,291
Unemployment
8.2%
CONTACT
CONTACT
Coldwell Banker Commercial Chicora 10225 N. Kings Hwy. Myrtle Beach, SC 29572 (843) 272-8700 www.cbcommercialchicora.com
Coldwell Banker Commercial Caine 117 Williams Street Greenville, SC 29601 (864) 250-2800 Seven new Apartment downtown www.cbccaine.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
43
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
SC - Sumter
TN - Chattanooga / North GA
DEMOGRAPHICS
CBSA Sumter, SC
MARKET HIGHLIGHTS
Continental Tire announces
DEMOGRAPHICS
CBSA Chattanooga, TN-GA
MARKET HIGHLIGHTS
Wacker Chemie AG began
Square Miles
665
$500M tire manufacturing facility in Sumter, the largest Industrial investment ever made in the county. 10-year economic impact is projected to be $1.82 Billion and nearly 6,000 new jobs. relocation from Fort McPherson in Atlanta to Shaw Air Force Base in Sumter is nearly complete as troops occupied the new $100M facility late last year. 1,400 new military personnel and their families will be a huge boost to the Sumter market this year. Qtr 2012. The Hong Kong based candy companys $6M investment is their first North American facility and will generate 120 new jobs over the next 5 years. to be underserved and ripe for development. Vacancy rates remain low and several MultiFamily properties have waiting lists.
Square Miles
2,089
construction on a fully integrated polysilicon production site which will create 650 permanent jobs and invest $1.5 billion. centers, creating over 1,300 new jobs and $135 million in investment to the area. With 3 facilities in Tennessee, Amazon has created 3,300 jobs and more than $270 million in investment in the state.
Population
104,624
39,583
211,265
$57,912
$62,455
208,265
100-year old manufacturing plant with a new LEED-certified facility. The new facility will add 130 new jobs at an investment of $120 million. booming in the area.
Unemployment
10.3%
Unemployment
7.3%
CONTACT
CONTACT
Coldwell Banker Commercial Hamilton & Associates 2650 Peerless Rd. N.W. Cleveland, TN 37312 (423) 476-5535 www.hamiltoncommercial.com
Coldwell Banker Commercial Cornerstone Overall sales and leasing activity 38 N. Main St. Sumter, SC 29150 is up in the first quarter after a (803) 778-1139 slow 2011. Steady improvement www.cbccornerstone.com is expected throughout 2012
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
44
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TX - Austin
DEMOGRAPHICS
CBSA Knoxville, TN
MARKET HIGHLIGHTS
Costco has purchased 21 acres
DEMOGRAPHICS
CBSA Austin-Round Rock, TX
MARKET HIGHLIGHTS
A pair of buyers acquired
in West Knoxville (Farragut) for $5,500,000. stabilized in all sectors as the economy starts to improve. has been announced on a site next to the campus of the University of Tennessee.
Square Miles
1,857
Square Miles
4,224
three buildings, totaling approximately 508,112 SF, in two separate transactions for approximately $95 million. community, located just one block from the University of Texas, was acquired in December 2011 for $86.2 million.
Population
702,994
A Publix/Wal-Mart development
297,456
665,762
declining but seems to be stabilizing. Number of units sold and volume is down, but not as sharply as a year ago. to be the strongest segment with at least 5 developments already underway or recently announced. in Forbes 2011 Best Cities for Jobs.
increasing its footing in stable territory. Absorption improved significantly with 465,975 SF in the fourth quarter 2011. quarters in a row of positive net absorption for Austins Office leasing market, ending the fourth quarter with 275,900 SF of positive net absorption. 2012 leads to expectations of plunging Apartment vacancies and rising rental rates. planned for downtown Austin. The 23-story, 320-unit complex will include significant Retail space.
307,125
622,577
Unemployment
6.4%
Unemployment
6.3%
CONTACT
Coldwell Banker Commercial Wallace & Wallace, Realtors 124 N. Winston Rd. Knoxville, TN 37919 (865) 690-1111 www.cbcww.com
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
45
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TX - Central
DEMOGRAPHICS
CBSA HoustonSugar LandBaytown, TX
MARKET HIGHLIGHTS
Multi-Family remains strong
DEMOGRAPHICS
CBSA San Antonio, TX
MARKET HIGHLIGHTS
Domestic immigration
Square Miles
8,928
with recent projects including Campus View, a 1,600-bed project; Cottage Homes, an Aspen Heights Project; and an addition to the Calloway Villas. very strong in the BryanCollege Station market. Four Seasons purchased the former Holiday Inn; the Former Plaza Hotel has been purchased and planned Mixed-Use development, including student housing and Retail, is expected; and the former Aggieland Inn is under contract. strong along the Greensprairie Corridor.
Square Miles
7,340
continues to increase, and legal immigration from Mexico remains robust. Texas and San Antonio continue to lead the nation in new job creation. absorption of existing space in all disciplines. projects, due to lack of available credit. stable with a 3% annual rise in new home sales. Home prices remain stable to slightly increasing, and new home inventory is well managed and remains at about a 6 month inventory. more robust, while acquisitions remain slow. in the San Antonio area. Benefits range from Military retirees locating here as well as new projects nearing completion, such as the National Security Agency. A recent Oil & Gas development in adjacent counties has brought Oilfield Companies such as Halliburton.
2,084,052
749,986
$87,941
$69,352
2,246,860
730,244
Unemployment
5.5%
Unemployment
6.8%
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
CONTACT
Coldwell Banker Commercial Alamo City 18756 Stone Oak Pkwy, Suite 202 San Antonio, TX 78258 (210) 483-6250 www.cbcalamo.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
46
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TX - East
TX - Houston
DEMOGRAPHICS
CBSA Longview, TX
MARKET HIGHLIGHTS
Weatherford combined 5 of
DEMOGRAPHICS
CBSA HoustonSugar LandBaytown, TX
MARKET HIGHLIGHTS
Houston is the first major
their operations under 1 roof. in the market due to oil/gas activity in the region. still positive.
8,928
metropolitan region to regain all the jobs it lost in the recession, adding about 76,000 jobs last year, according to the Texas Workforce Commission. lease for 804,491 SF in One Shell Plaza and 471,934 SF in Two Shell Plaza, a combined 1.22 million SF of Office space, the largest Office lease transaction in the world in 2011. attractive to investors: Mosaic Residential Inc. purchased the 274-unit Westborough Crossing Multi-Family complex in Katy for $12.9 million. ranked Houston #1 in the world in terms of cost of living advantage and purchasing power. upward movement, reaching $95-$100/barrel. the Year by Fast Company because of small business and entrepreneurial attraction.
Office/Warehouse demand is
Population 208,154 Population 5,937,339
2,084,052
Retail is improving.
$65,286
$87,941
Multi-Family continues to be
79,368
2,246,860
Unemployment
5.9%
Unemployment
5.5%
CONTACT
Coldwell Banker Commercial Lenhart Properties 304 E. Loop 281, Suite C Longview, TX 75605 (903) 297-1444 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial United, Realtors 2121 Sage Rd., Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
47
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
TX - Lubbock
TX - Victoria County
DEMOGRAPHICS
CBSA Lubbock, TX
MARKET HIGHLIGHTS
The Lubbock Economic Index
DEMOGRAPHICS
CBSA Victoria, TX
MARKET HIGHLIGHTS
Burks Outlet, Shoe Dept.,
Square Miles
1,799
finished the year on an upward trend, increasing for each of the last three months, and five of the last seven months. solid in the 4th quarter of 2011, with inflation-adjusted taxable Retail spending per Lubbock sales tax receipts in the 4th quarter up 6.5% compared to the fourth quarter 2010. sector that lost jobs in 2011; even the government sector grew by nearly 2% year-overyear. unemployment for the South Plains was 5.5 percent, with the Lubbock unemployment rate at 5.3 percent. with a $4.1 million sales tax distribution payment. That figure is 6.2 percent higher than the $3.8 million the city received in January 2010. $70 million, 150,000 SF Jerry Rawls College of Business building for the Spring semester.
Encore and Pier One Imports open for business. draw people to the area.
Square Miles
2,248
Population
115,980
111,087
housing inventory in the market. while inventory decreases and new home construction is lagging behind demand..
101,281
41,963
Unemployment
5.8%
CONTACT
Coldwell Banker Commercial Rick Canup, Realtors 4924 S. Loop 289 Lubbock, TX 79414 (806) 793-0888 www.cbclubbock.com
CONTACT
Coldwell Banker Commercial The Ron Brown Company 2505 N. Navarro St. Victoria, TX 77901 (361) 573-6191 www.cbcworldwide.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
48
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
VA - Lynchburg
DEMOGRAPHICS
CBSA Salt Lake City, UT
MARKET HIGHLIGHTS
Adobe, Goldman Sachs, EMC,
DEMOGRAPHICS
CBSA Lynchburg, VA
MARKET HIGHLIGHTS
Lynchburg continues to hold on
Microsoft, eBay, Crate & Barrel, North Face and Marshalls have entered the market. corporate tax rates in the country.
to larger tenants due mostly in part to the steady economy in this area.
Square Miles
9,539
Square Miles
2,124
Population
1,140,107
Population
248,585
slowly fall due to several smaller tenants branching out to the Central VA area. creeping up and new additions/ alterations are remaining steady. advantage of the various tax credits, and therefore many adaptive, re-use projects are taking place in the downtown market. Multi-Family developments more now than in the past when CRE was the main focus. attractive to outside developers/ investors mostly due in part to the various incentives the city offers to revamp the downtown market.
376,706
downtown Salt Lake City redevelopment project with the LDS Church and Taubman Company is scheduled to open March 2012. Forbes Magazine has listed Utah as the Best State in the Country for Business and Careers. environment, a significant number of building projects launched in Utahs Office market. Speculative development is back.
$82,120
567,447
96,796
CONTACT
Coldwell Banker Commercial NRT - Salt Lake City 6550 S. Millrock Dr., Suite 200 Salt Lake City, UT 84121 (801) 947-8300 www.coldwellutah.com
decreasing. Net absorption is up and lease rates remain the same but are a lagging market indicator.
CONTACT
Coldwell Banker Commercial Read & Co. 2508 Langhorne Rd. Lynchburg, VA 24501 (434) 455-2285 www.cbcread.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
49
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
WA - Clark County
WA - King County
DEMOGRAPHICS
CBSA Portland VancouverBeaverton, OR-WA
MARKET HIGHLIGHTS
The Columbia River Crossing - the
DEMOGRAPHICS
CBSA Seattle Tacoma Bellevue, WA
MARKET HIGHLIGHTS
Overall sales and leasing of
Square Miles
6,684
Population
2,261,246
new I-5 Bridge (which is in the final planning stage) - will connect Vancouver, WA with neighboring Portland, OR. It is anticipated that the new bridge will boost the regional economy and directly benefit the Clark County business community through improved freight mobility. University Vancouver will open the new Engineering and Computer Science Center a $43.5 million, 56,000 SF building. sector in the investment market. Cap rates remain strong in favor of sellers in the 6+% range. Low interest loans in the 4+% range are spurring sales. Commercial Land on major arterials is selling at 70% of its 2008 peak value, with residential Land selling at 50% of its 2008 peak value.
Office and Industrial properties are picking up. very strong. Rental rates are predicted to increase for the next 3-5 years.
Square Miles
5,894
Population
3,433,786
and sales continue to improve. experiencing a once in a lifetime market. Companies are building or moving into larger facilities. the Puget Sound to the West and the Cascade Mountains to the East. People can do many different activities such as fishing, skiing, bicycling within an hour of where they live. King County is one of the best places to live and work in the U.S.
1,373,207
$86,419
$73,445
952,611
Unemployment
7.2%
Unemployment
9.2%
CONTACT
CONTACT
Coldwell Banker Commercial Danforth & Associates 33313 First Way S. Federal Way, WA 98003 (253) 874-3200 www.cbcdanforth.com
Coldwell Banker Commercial Jenkins-Bernhardt Associates The Columbia River Economic Development Council recently 1500 D St. Vancouver, WA 98663 released a 20 year plan call for (360) 699-4494 establishing Clark County as a www.cbcworldwidenw.com regional center of growth and
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
50
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
WA - Tacoma
DEMOGRAPHICS
CBSA Olympia, WA
MARKET HIGHLIGHTS
In Retail, WinCo Foods and Trader
DEMOGRAPHICS
CBSA Seattle Tacoma Bellevue, WA
MARKET HIGHLIGHTS
New Warehouse distribution
Square Miles
727
Joes have experienced good success moving into the market. REI launch proved very successful, as well. The Office sector is still undergoing a correction as the state of Washington consolidates operations. significantly as the rental market continues to improve as a result of foreclosures and short sales, which account for 31% of the residential sales in this market. to climb as contraction in the construction markets continues. been foreclosed by creditors and are being marketed now. The Gateway project in Lacey, anchored by retailer Cabelas, is a 200+ acre Mixed-Use development that is receiving strong interest from developers. Prices on land, however, continue to soften. The Residential markets are beginning to pick up. After reaching a bottom last winter, sales picked up steam as the year went on. Around the Sound, 2011 sales were up more than 7% over 2010.
Square Miles
5,894
Population
253,654
Population
3,433,786
WAMU building in downtown Seattle, pulling the largest private employer out of Tacoma. This is creating opportunities for new tenants to occupy Class A space in Tacoma that was previously unavailable. Group Health are all building aggressively to meet changing needs in healthcare. Union Seattle has over 1M SF of preleased Office. boxes currently is a focus, with build-to-suits almost exclusively relying on sit-down food and bank pads. on its books, so aerospace manufacturing/supply is in the rise.
1,373,207
$74,489
68,733
Unemployment
CONTACT
Coldwell Banker Commercial Evergreen Olympic Realty, Inc. 3333 Capitol Blvd. S. Olympia, WA 98501 (360) 352-7651 www.cbcworldwide.com
CONTACT
Coldwell Banker Commercial Offenbecher 101 S. Meridian Puyallup, WA 98371 (253) 840-5574 www.offenbecher.com
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
51
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
WI - Madison
INTERNATIONAL MARKETS
DEMOGRAPHICS
CBSA
DEMOGRAPHICS
CBSA Madison, WI
MARKET HIGHLIGHTS
Madison is Wisconsins state
MARKET HIGHLIGHTS
capitol.
SF as the largest Office lease in 2011. overall in the Madison area primarily because of bio-tech industry growth. of highly skilled labor for manufacturing companies.
Square Miles
Population
242,725
$79,455
281,044
fairly solid, with low rental vacancy rates and median sales prices slowly increasing. excellent school systems.
Unemployment
CONTACT
Coldwell Banker Commercial Success 7609 Elmwood Ave., Suite 102 Middleton, WI 53562 (608) 662-1110 www.cbcsuccess.com
CONTACT
,
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
52
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
Bermuda
DEMOGRAPHICS
CBSA Bermuda
MARKET HIGHLIGHTS
141 Front Street, a showcase
DEMOGRAPHICS
CBSA Belleville, Brighton, Quinte West 372.14 m2
MARKET HIGHLIGHTS
Kelloggs leased 400,000 SF. Industrial vacancy rates remain
Square Miles
21
building in the City of Hamilton, completed in September 2010, has been a huge success with 75% occupancy. space has increased due to high level of new space on the market at affordable prices. SF of premier waterfront property in Hamilton, is on track with completion expected in 2013; 40% is already preleased. records) is incomplete, but it is expected that 2011 sales totals will be similar to 2010 with average price of property lower. to purchase in this market but with longer transaction times. foreigners often look to purchase in Bermuda. It is expected that government will soon relax purchasing requirements for foreigners.
Square Miles
relatively low based on little or no new construction in the last 3-5 years. area.
34,110
based on the possibility of new construction. markets and central to Ontario with a stable and affordable housing market.
$67,183 USD
$52,803 USD
48,760
Unemployment
6.0%
Unemployment
6.33%
As an island destination,
CONTACT
Coldwell Banker Commercial Bermuda Realty 11 Par la Ville Rd. Hamilton, Bermuda HM HX (441) 292-1793 www.bermudacommercial.com
CONTACT
Coldwell Banker Commercial Ekort Realty 100 Bell Blvd., Suite 200 Belleville, ON K8P 4Y7 (613) 969-9901
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
53
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
DEMOGRAPHICS
CBSA Toronto, CA
MARKET HIGHLIGHTS
Industrial vacancy continues
DEMOGRAPHICS
CBSA Kitchener, ON (Waterloo Region)
MARKET HIGHLIGHTS
Business changes at Research
decline to approximately 7% with inventory of 800,000,000 SF. been built in recent years. reasonably well.
Square Miles
2,279
Square Miles
528
Population
5,583,064
Population
543,700
in Motion affect the local Office market, but substantial growth at Google, Desire to Learn and many other technology companies help offset the impacts. 300 new tech companies founded in 2011 and 450 startup jobs created. approved a new Light Rail Transit system, with an estimated cost of $818 million dollars. $103 million dollar business school at Wilfrid Laurier University, a new $74.3 million dollar campus for Conestoga College and three new buildings at the University of Waterloo totaling $88.3 million. of the Perimeter Institute for Theoretical Physics and the new Balsillie School of International Affairs have opened. Toyota built 458,000 vehicles at its two local plants. New Retailers such as Lowes, Wal-Mart and Empire Theatres open at The Boardwalk, a new 1,000,000 SF Office and Retail complex.
1,800,000
$63,500 USD
$65,522 USD
2,919,410
282,300
Unemployment
7.2%
Unemployment
6.4%
CONTACT
Coldwell Banker Commercial Integrity Real Estate, Brokerage 1384A Cornwall Rd. Oakville, ON L6J 7W5 (905) 338-8877 www.cbci.ca
CONTACT
Coldwell Banker Commercial Peter Benninger Realty, Brokerage 508 Riverbend Dr. Kitchener, ON N2K 3S2 (519) 743-5211 www.coldwellbankercommercial.ca
OFFICE
Vacancy
RETAIL
OFFICE
N/A N/A N/A
Vacancy
RETAIL
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
54
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
N/A
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
Czech Republic
France
DEMOGRAPHICS
CBSA Czech Republic
MARKET HIGHLIGHTS
Siemens, Holesovice is a major
DEMOGRAPHICS
CBSA France
MARKET HIGHLIGHTS
One very important and
Square Miles
30,450
Square Miles
260,558
re-occurring trend is the preference for town-centre sites, but retailers will have to deal with the supply shortage and the high level of rents. will continue to have a hard time budgeting, the financial situation of retailers will be under pressure. This will make retailers cautious and very selective when choosing sites, leading to long and complex real estate negotiations. in France continued to climb, going up by 6.5%. The price increase in 2010 was essentially linked to the decrease in lending rates and the low level of supply while demand remained high. According to developers, construction costs are expected to increase. large share of investors were hit by changes in the tax regime and the elimination of certain incentives. Many investors sold their Apartments because of this new law. Prices continue to rise in Paris; and in regional markets, prices have tended to stabilize.
Population
10,500,000
2,500,000
23,008,000
$32,000 USD
N/A
financial crisis but domestic companies are competitive and have good market share. gives good access to high value markets such as Germany, Austria and the Czech Republic.
56,064
Unemployment
9.3%
CONTACT
Coldwell Banker Commercial Top Czech Partners Commercial s.r.o. Podebradska 88/55 Prague, Czech Republic 190 00 +420 222 329 004 www.cbcommercial.cz
CONTACT
Coldwell Banker Commercial France & Monaco 8 rue Lamennais Paris, N/A 75008 +33 1 83535353
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
55
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
Greece
Ireland
DEMOGRAPHICS
CBSA Greece
MARKET HIGHLIGHTS
Greek market is open to
DEMOGRAPHICS
CBSA Ireland
MARKET HIGHLIGHTS
Twitter set up its European
Square Miles
50,949
investments and legislation is being simplified in order to favor investors and big construction projects. economic activity is shrinking and enterprises, as well as households, reduce their activities or move to smaller size spaces.
headquarters in Dublin.
Nama is releasing more and more property on the market. significant construction in this market. transactions are increasing very modestly. but commercial market expected to improve this year from overseas investment. biggest property slump of any OECD country ever recorded.
3,664,392
1,900,000
due to new taxation on land property. Private construction activity in 2011 decreased by 36.9% (10 months). standstill in anticipation of new economic development policies.
35,000
3,901,269
2,100,000
Unemployment
20.9%
improving with recent efforts for market stabilization. and residential development. As prices are becoming lower, new opportunities emerge for long term investments. Its a buyers market.
CONTACT
Coldwell Banker Commercial Greece 8 Omirou street & Panepistimiou Ave. Athens, Greece 10564 +30 32 28228
CONTACT
Coldwell Banker Commercial Property Consultants 2 Upper Fitzwilliam St. Dublin, Co Dublin Dublin 2 +353 1 4110012 www.coldwellbankercommercial.ie
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
56
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
Per - Lima
DEMOGRAPHICS
CBSA Mexico City, MX
MARKET HIGHLIGHTS
The Office market increased by
DEMOGRAPHICS
CBSA Lima, Peru
MARKET HIGHLIGHTS
This market is seeing some new
Square Miles
80
10% compared with the 2010 year end; absorption decreased by 25% while the average rent price remained the same. transactions in the Office market: Ericsson Telecom (184,000 SF) and Siemens (176,000 SF).
Square Miles
27
growth and evolution of cities. are in progress (new hotels) as well as new construction of Malls.
N/A
6,033,000
$31,000 MXN
built in 2011 was 4.1 million SF and it is expected that over 3.1 million SF will be built during 2012. Bonafont leased a 333,000 SF facility near Mexico City. the Retail prices remained stable and the demand for commercial spaces grew. latest financial international crisis, along with the conceptual evolution in shopping centers, reposition Mexico beside Brazil and Colombia in the arena of expanding potential Retail markets in Latin America.
8,400,000
15,900,000
Unemployment
4.8%
Unemployment
9.0%
CONTACT
Coldwell Banker Commercial Mexico Montes Urales No. 415 1 Lomas de Chapultpepec Mexico City, Mexico 11000 +52 55 41621000
CONTACT
Coldwell Banker Commercial Per Av. Javier Prado 3361 San Borja Lima Lima, Per L41 +51 13 462900
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
N/A N/A N/A
57
Vacancy
MULTI-FAMILY
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
Puerto Rico
Spain
DEMOGRAPHICS
CBSA Puerto Rico
MARKET HIGHLIGHTS
Unemployment rate dropped
DEMOGRAPHICS
CBSA Spain
MARKET HIGHLIGHTS
Public administration must
by 3% with positive job growth. with small business owners projected to absorb some vacant commercial lease units. purchased the old Roosevelt Roads Naval Base on the east side of the island. The government invested $2.5 Billion in the 8.654 acres to promote and sell Land for commercial and residential projects. Energy Affairs Administration of Puerto Rico invested over $3 Million in assisting local and US mainland investors in purchasing Land to develop solar and wind farm projects. Act 113 of 2011, the law to promote and develop the cruise ship industry. 1.2 million tourist visited Puerto Rico in 2011. Act 3657, a Tax Incentive Law for individuals who buy commercial properties that produce trade, employment and goods in Puerto Rico.
pay their debts within the established guidelines of 60 days, not 400. each business sector is able to negotiate labor contracts on a sector and local basis and is incented to hire employees full time without excessive burdens of severance pay for each year worked. in Spain.
Square Miles
194,897
Population
3,725,789
Population
41,000,000
1,181,112
14,200,000
$27,017 USD
689,086
Unemployment
13.2%
Unemployment
21.0%
has had a negative impact on the social climate and on the unemployment compensation system within the social security economic framework. spending has exceeded European guidelines.
CONTACT
Coldwell Banker Commercial KF Real Estate 530 Constitution Ave. San Juan, PR 901 (787) 433-0077 www.cbcommercialpr.com
CONTACT
problems for bank liquidity and Coldwell Banker Commercial labor unemployment. Las Rozas Playa del Sardinero 18 Las Rozas de Madrid, Spain 28290 +34 91 636 3780
OFFICE
Vacancy
RETAIL
OFFICE
RETAIL
Vacancy
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDUSTRIAL
Vacancy
MULTI-FAMILY
INDUSTRIAL
MULTI-FAMILY
Vacancy
58
Vacancy
Vacancy
Absorption
Absorption
Absorption
Absorption
Rental Rates
Rental Rates
Rental Rates
Rental Rates
INDEX BY MARKET
Alachua County, FL Albany (NY Capital Region), NY Albuquerque Metro, NM Athens, GA Atlanta Greater MSA, GA Atlanta MSA, GA Austin, TX Billings, MT Bloomington / Normal, IL Boise, ID Bryan / College Station, TX Central, PA Central, TX Champaign / Urbana, IL Charleston, SC Chattanooga / North GA, TN Chicagoland, IL Clark County, WA Columbia, SC Danbury / New Haven County, CT Deltona-Daytona / Ormond Beach, FL Dothan, Houston County, AL East, TX Faireld County, CT Fargo / Moorhead, ND Greene / Morgan / Putnam Counties, GA Greenville / Spartanburg, SC Honolulu, HI Hot Springs, AR Houston, TX Humboldt County, CA Huntsville, AL Inland Empire / Palm Springs, CA Inland Empire North / Victor Valley, CA Jacksonville, FL Kansas City Metro Area, KS King County, WA Knoxville / East Tennessee, TN Kootenai County, ID Lafayette, LA Lakeland / Winterhaven, FL Lincoln, NE Little Rock, AR Los Angeles Westside, CA Los Angeles, CA Louisville Metro, KY Lubbock, TX Lynchburg, VA Madison, WI Manatee, Sarasota, Charlotte Counties, FL Mankato, MN Midcoast, ME Middle, MI Minneapolis / St. Paul Metro Area, MN Modesto, CA Monterey / San Benito Counties, CA Monterey Peninsula, CA 15 35 35 21 21 22 45 33 25 24 46 40 46 25 42 44 26 50 42 14 16 3 47 14 39 22 43 23 4 47 5 3 6 6 16 27 50 45 24 28 17 33 5 7 7 27 48 49 52 17 30 29 30 31 8 8 9 Montgomery, AL Morris County, NJ Myrtle Beach, SC New Hanover County, NC New Orleans, LA New York, NY Northeastern, PA Northern, NJ Orange County, CA Outer Banks, NC Port St. Lucie, FL Portland, OR Redding, CA Reno / Sparks MSA, NV Research Triangle, NC Rowland Heights, CA Salem, OR Salt Lake City, UT San Diego, CA San Fernando / San Gabriel Valley, CA San Francisco, CA San Gabriel Valley North, CA Savannah, GA South Puget Sound, WA South, FL Southern, KY Southwest Riverside County, CA Southwest, FL Southwestern, PA Springeld Area, MO Springeld, IL St. Cloud / Central, MN St. Joseph, MO Sumter, SC Sussex County, DE Tacoma, WA Tampa / St. Petersburg, FL The Florida Keys, FL Vero Beach / Indian River County, FL Victoria County, TX Western, CO Winston-Salem, NC INTERNATIONAL MARKETS Bermuda Czech Republic France Greater Toronto Area, Canada Greece Ireland Mexico City, Mexico Ontario (Eastern), Canada Peru Puerto Rico Spain Waterloo Region, Canada 4 34 43 37 29 36 41 34 9 37 18 39 10 36 38 10 40 49 11 11 12 12 23 51 18 28 13 19 41 32 26 31 32 44 15 51 19 20 20 48 13 38 53 55 55 54 56 56 57 53 57 58 58 54
Each market information comes from the CBC afliate 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 dened by the Ofce 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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