2012 Mid Year Blue Book by Coldwell Banker Commercial

2012Blue Book Coldwell Banker Commercial速 Mid Year Market Review

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

Sources of Information Each market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.

Table of Contents AL - Birmingham AL - Dothan, Houston County AL - Montgomery AK - Anchorage AR - Hot Springs AR - Jonesboro AR - Little Rock AZ - Sedona/Verde Valley CA - Arcadia CA - Inland Empire North/Victor Valley CA - Los Angeles CA - Los Angeles, Westside CA - Modesto CA - Napa Valley/Napa County CA - Orange County CA - Redding CA - Sacramento Greater Area CA - San Gabriel/San Fernando Valley CA - Southwest Riverside County CO - Western CT - Danbury/Upper Fairfield/New Haven CT - Fairfield County DE - Sussex County FL - Brevard County FL - Charlotte/Sarasota Counties FL - Daytona/Ormond Beach, Volusia County FL - Destin FL - Florida Keys FL - Gainesville FL - Indian River County FL - Jacksonville FL - Lakeland/Winter Haven FL - Melbourne/Brevard County FL - Naples/Ft. Myers FL - Orlando FL - Polk County FL - Sarasota/Manatee/Charlotte Counties FL - Southern FL - St. Lucie County FL - Tallahassee FL - Tampa/St. Petersburg GA - Athens GA - Atlanta GA - Chatham County GA - Columbus GA - Hinesville/Fort Stewart GA - Lake Oconee/Lake Sinclair GA - Macon, Bibb County HI - Honolulu ID - Boise ID - Coeur dâ&#x20AC;&#x2122; Alene IL - Bloomington/Normal, McLean County IL - Champaign/Urbana IL - Chicagoland IL - Madison/St. Clair Counties IL - Peoria County IL - Sangamon County IN - Delaware County KS - Garden City KS - Kansas City Metro Area KY - Louisville Metro KY - Southern LA - Acadiana LA - New Orleans ME - Midcoast MD - Suburban MA - Pioneer Valley MI - Middle

4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37

MI - Western MN - Mankato MN - Minneapolis/St. Paul Metro Area MN - St. Cloud/Central MO - St. Joseph MS - Gulfport/Biloxi MT - Billings NE - Lincoln NV - Reno/Sparks NJ - Central NJ - Morris County NJ - Northern NM - Albuquerque NY - Albany NY - Long Island NY - New York City NC - Southeastern NC - Triad Area NC - Triangle ND - Fargo/Moorhead OH - Lorain County OK - Oklahoma City OR - Portland OR - Salem PA - Pittsburgh PA - Southeastern PA - York/Lancaster/Harrisburg SC - Charleston SC - Columbia SC - Greenville/Spartanburg SC - Myrtle Beach SD - Rapid City TN - Chattanooga Metro Area TN - Knoxville/East TX - Abilene TX - Austin TX - Bryan/College Station TX - Dallas/Fort Worth TX - Houston TX - Lubbock TX - Rio Grande Valley TX - San Antonio TX - Waco, McLennan County UT - Salt Lake County VA - Lynchburg WA - King County WA - South Puget Sound WA - Tacoma WA - Vancouver & Southwest WI - Janesville/Beloit WY - Cheyenne Metro

38 38 39 39 40 40 41 41 42 42 43 43 44 44 45 45 46 46 47 47 48 48 49 49 50 50 51 51 52 52 53 53 54 54 55 55 56 56 57 57 58 58 59 59 60 60 61 61 62 62 63

INTERNATIONAL MARKETS Bermuda Canada - Belleville Canada - Greater Toronto Area Canada - Kelowna/West Kelowna Canada - Nanaimo, BC Canada - Ottawa, Ontario Canada - Waterloo Region Colombia - Cartagena Greece Ireland Mexico - Mexico City The Netherlands Turkey - Istanbul United Arab Emirates

64 64 65 65 66 66 67 67 68 68 69 69 70 70

AL - Birmingham

DEMOGRAPHICS CBSA

Square Miles

Population

BirminghamHoover, AL

5,298

1,135,190

AL - Dothan, Houston County

MARKET HIGHLIGHTS

DEMOGRAPHICS

• The construction of a new ballpark

CBSA

in Birmingham’s Southside has spawned a number of real estate transactions in the Industrial sector. Also due in part to the new ballpark development, the Central submarket experienced the largest amount of positive absorption in the Q2.

Square Miles

Dothan, AL

451,751

Household Income Median

$55,642

Employees (Total)

485,749

Unemployment

Population

Households Household Income Median

• Birmingham is seeing more casual

dining enter the market. New restaurants like Which Wich, Lime Fresh Mexican Grill, Little Donkey, Tellini’s Italiano and Seasons 52 have either just opened or will open soon.

OFFICE

in the nation.

57,785

• Southeast Alabama & Northwest

Florida announce mega site location.

$43,656

• Regional Airport offers hangers for

wide body aircraft.

Employees (Total)

58,833

Unemployment

8.30%

CONTACT

• Mercy Medical, a medical facility for

Coldwell Banker Commercial Moore Company Realty 2 Office Park Circle, Suite 110 Birmingham, AL 35223 (205) 871-2088 www.cbcmcr.com

Dothan economy and continues to grow.

143,295

• Cost of Living Index is one of lowest

Maur department store is leasing 187,000 SF and will be the fifth department store in the mall.

Services leased 21,000 + SF at The Forum Building. Accretive Health is new to Birmingham, and Birmingham was chosen over several other cities in the Southeast.

CONTACT

construction with the first class admitting in August 2013.

• Healthcare Industry drives the

• Chicago-based Accretive Health 7.90%

• New Medical College is under

• Hotel occupancy rate remains high.

1,718

• Riverchase Galleria announced Von Households

MARKET HIGHLIGHTS

senior citizens, leased the 45,540 SF former Haverty’s Furniture Showroom in Irondale.

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

AL - Montgomery

DEMOGRAPHICS CBSA

Square Miles

Montgomery, AL

2,725

Population

367,157

Households

147,017

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Alabama heats up as the place to

CBSA

do business: Expansion of Mercedes in Vance; Expansion of Hyundai in Montgomery; Expansion of Honda in Lincoln; Airbus to open its North American plant in Mobile.

Square Miles

• Office vacancy is stabilizing. Targeted

Retail is succeeding in their desired demographics. Call volume has increased for all product types.

$52,679

Employees (Total)

144,160

• Restaurant and pub nears completion

26,379

Population

378,904

Households

137,722

• In July of 2012, Cabela’s announced

plans to build a 100,000 SF store in Anchorage. New national retailers continue to have success moving into the market, including Olive Garden and Buffalo Wild Wings.

• Anchorage Office market continues

to have a low vacancy rate of 6.1%.

$72,444

price range of $80/SF find traction.

• With the expansion of Hyundai and

Employees (Total)

162,368

• Budget homebuilders in the finished

its ancillary jobs created, there is optimism in the market.

Unemployment

cargo break point for intermodal product arriving in the Port of Mobile.

CONTACT

upward growth path

• Retailers are moving to better

Household Income Median

• Montgomery can become the natural

8.90%

Anchorage, AK

MARKET HIGHLIGHTS

• The Alaska market continues on its

in downtown historic district.

Household Income Median

Unemployment

AK - Anchorage

locations as their current leases expire, creating new construction projects and leaving behind older vacant facilities.

• The Industrial market is tight

with vacancy - the only product available is less desirable facilities due to ceiling height and electrical capabilities.

6.90%

CONTACT

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

OFFICE

Coldwell Banker Commercial NRT - AK 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (907) 694-4944 www.coldwellutah.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

AR - Hot Springs

DEMOGRAPHICS CBSA

Square Miles

Hot Springs, AR

AR - Jonesboro

MARKET HIGHLIGHTS

DEMOGRAPHICS

• New tenants in the market include

CBSA

TCBY and Orange Leaf.

• Foreclosures in commercial real

estate in the area have remained minimal.

677

Population

98,888

Households Household Income Median

Square Miles

• Two parcels of land are currently

Jonesboro, AR

711

Population

96,443

43,175

• More residential units have been sold

Households

39,977

$42,222

• The City of Hot Springs, along

Household Income Median

$42,931

32,750

Unemployment

7.60%

• NEA Baptist Hospital is building a

new facility with new technology and a new health care model for Northeast Arkansas.

• Arkansas State University is always

under contract for the construction of two new hotels.

Employees (Total)

MARKET HIGHLIGHTS

expanding and was named in the Best Colleges Regional Universities South 2012.

• New restaurants are moving into

this year but the average price/unit was reduced. with the Chamber of Commerce, is working on plans to further the revitalization of the historic downtown.

Jonesboro: Cheddar’s, Five Guys Burgers, Buffalo Wild Wings and Panera.

• New stores are coming into

Jonesboro: Academy Sports, Kirkland’s and Sissy’s Log Cabin.

Employees (Total)

37,743

Unemployment

7.00%

• Commercial sales and leasing activity

through Q2 of 2012 have exceeded the year 2011 sales.

CONTACT

Coldwell Banker Commercial RPM 401 Section Line Rd., Suite F Hot Springs, AR 71913 (501) 520-4000 www.cbcrpm.com

OFFICE

Coldwell Banker Commercial Village Communities 2704 S. Culberhouse, Suite A Jonesboro, AR 72401 (870) 935-7800 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

AR - Little Rock

DEMOGRAPHICS CBSA

Little RockNorth Little Rock-Conway, AR

AZ - Sedona/Verde Valley

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Welspun Corp. Ltd. announces $100m

CBSA

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

• Southwest Power Pool celebrates Square Miles

Population

Households Household Income Median Employees (Total)

Square Miles

July grand opening of its new $62m, 190,000 SF Corporate Center in West Little Rock.

4,090

690,456

276,042

290,765

Population

was sold and revitalized.

• Commercial vacancies are steady and

trending downward. business corridor.

• Residential units sales are strong with

a 6-year low inventory.

employment and invests $6m in expansion/relocation to Sherwood facility.

Households Household Income Median

quarter of positive absorption.

46,597

$52,993

• Sedona Hotel occupancy is up 10%

YTD for Q1 and Sedona Marathon up 20%.

• Sedona internet inquiries are up 43%

for Q1 of 2012.

• Local developers announce Mixed-

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

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

6.60%

130,596

• Custom Aircraft Cabinets doubles

• Windstream Hosted Solutions opens Unemployment

18,617

• Historic Oak Creek Canyon Resort

• State is upgrading lighting in Sedona

• Industrial market has 5th consecutive $56,190

Flagstaff, AZ

MARKET HIGHLIGHTS

CONTACT

Employees (Total)

48,137

Unemployment

8.30%

CONTACT

Coldwell Banker Commercial Hathaway Group 2100 Riverdale Rd., Suite 100 LIttle Rock, AR 72202 (501) 663-5400 www.hathawaygroup.com

OFFICE

Coldwell Banker Commercial First Affiliate 195 W. State Route 89A Sedona, AZ 86336 (928) 282-4666 www.cbsedonacommercial.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

CA - Arcadia

CA - Inland Empire North/Victor Valley

DEMOGRAPHICS CBSA

Los AngelesLong BeachSanta Ana, CA

MARKET HIGHLIGHTS

DEMOGRAPHICS

• This market is experiencing slow

CBSA

recovery for Commercial Real Estate.

Riverside-San BernardinoOntario, CA

• Increase on BPO orders for banks & Square Miles

Square Miles

27,260

• This area is experiencing high Population

12,935,173

4,288,080

Population

• Limited commercial lending is

4,171,856

Households

• There is a big gap between buyer &

1,350,253

seller expectations.

Household Income Median Employees (Total)

$60,485

under construction. Q1 is up 26%.

• Increase in owner/users purchasing

vacancy.

available.

Households

• Macy’s, JCPenney and Fitness 19 are • Number of Multi-Family sales Q2 vs.

investors.

4,850

MARKET HIGHLIGHTS

Household Income Median

• Buyers are still sitting on the fence.

Employees (Total)

5,313,010

$52,845

1,156,307

vacant Industrial buildings.

• Industrial tenants are relocating

to similar or larger SF buildings; taking advantage of low rates, better locations &/or more suitable facilities.

• Office leasing activity is improving,

there are signs of expansion from out of the area users with space requirements ranging from 1,000 SF to 1,500 SF.

• Office sector landlords are typically Unemployment

Unemployment

10.30%

CONTACT

12.60%

doing 1-3 year lease terms with minimal concessions and TI allowances with options at market.

CONTACT

Coldwell Banker Commercial George Realty 660 W. Huntington Dr. Arcadia, CA 91007 (626) 445-6660 www.cbcworldwide.com

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

CA - Los Angeles

DEMOGRAPHICS CBSA

Los AngelesLong BeachSanta Ana, CA

CA - Los Angeles, Westside

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Apple is opening a mega store in

CBSA

Santa Monica, CA.

Los AngelesLong BeachSanta Ana, CA

• Office market is tightening up, rates Square Miles

climbing slowly.

4,850

Square Miles

4,850

• Owner/user investment continues to Population

12,935,173

remain strong.

• Creative Office continues to attract

Population

12,935,173

Households

4,288,080

tenants.

Households Household Income Median

4,288,080

Household Income Median

$60,485

MARKET HIGHLIGHTS • Strongest property sectors are

Multi-Family, single-tenant NNN Investments, Medical Office and Industrial (due to the scarcity of the product and ability to convert to creative Office uses).

• The strongest sub-markets are

the Santa Monica-Venice creative corridors, Beverly Hills, West Hollywood and Brentwood.

• Multi-Family market is very active

and financing is readily available. Cap rates in A/B areas are 4%-5%; B/C areas range from 4.75%-6.5%.

• A lot of cash is on the sidelines, Employees (Total)

Unemployment

Employees (Total)

5,313,010

Unemployment

10.30%

5,313,010

10.30%

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.

• Developers are looking for

CONTACT

Coldwell Banker Commercial WESTMAC 1515 Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700 www.westmac.com

OFFICE

Coldwell Banker Commercial NRT - Los Angeles 11999 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 (310) 820-6651 www.cbcworldwide.com

RETAIL

OFFICE

opportunities to build with severalhundred-thousand SF of Multi-Family, creative Office and Mixed-Use developments in the pipeline, slated to come on line in 2014-2016.

• Single Family/Condo market is

trending upwards with more offer activity, more sales and shorter marketing times.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

CA - Modesto

CA - Napa Valley/Napa County

DEMOGRAPHICS CBSA

Square Miles

Modesto, CA

1,494

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Stanislaus County is located in

CBSA

the Central Valley. Its county seat is Modesto, which is where many people in the surrounding areas shop.

Square Miles

Napa, CA

754

• The major industry is AG-related, Population

512,221

Households

167,008

Household Income Median

$49,395

Employees (Total)

140,743

Unemployment

15.80%

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

OFFICE

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.

Population

• Shopping areas that are well 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.

• There have been major layoffs in

government sector based on tax assessments being lowered due to downturn in real estate values. Leveling out has occurred and all are hoping real estate prices will start to rise in 2012. This will only come if the unemployment in the area starts to decline.

135,273

Households

52,057

Household Income Median

$72,042

Employees (Total)

60,343

Unemployment

7.80%

MARKET HIGHLIGHTS • Napa City Council approved the

Downtown Specific Plan, making way for more favorable development guidelines, options for downtown living, more green areas, bike-friendly paths and the return of two-way streets.

• Developer Todd Zapolski purchased

the Napa Town Center. His proposed rejuvenation project is expected to attract more world-class retailers and restaurateurs.

• Multi-Family Office vacancy rates in

the city of Napa have declined to about 14%.

• The total Industrial market in Napa

County consists of over 16 million SF, with a current vacancy rate of less than 8%.

• During the first six months of 2012,

the Up Valley (Calistoga, St. Helena and Yountville) Commercial real estate market saw a resurgence of sales and leasing activity.

CONTACT

• Buyers, especially developers, Coldwell Banker Commercial appear to be coming back into the Brokers of the Valley commercial marketplace, eager to 1775 Lincoln Ave. make the most of attractive prices Napa, CA 94558 and low interest rates. (707) 224-8454 www.napacommercialproperties.com

• Office and Retail are improving in

good centers and locations.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

CA - Orange County

CA - Redding

DEMOGRAPHICS

CBSA

Los AngelesLong BeachSanta Ana, CA

MARKET HIGHLIGHTS • Office market has nearly 1,000,000 SF

CBSA

of positive absorption in Q2.

• Retail construction activity is still low Square Miles

but starting.

4,850

Square Miles

Redding, CA

12,935,173

Household Income Median Employees (Total)

Unemployment

4,288,080

• Housing construction is starting up

picking up.

Population

181,457

• Orchard Retail Center sells for $122

5,313,010

again.

• Commercial foreclosures are slowing.

• A new Apartment development with

758 units will built by The Irvine Company in Tustin.

$60,485

resilience. looms.

million or $434/SF.

Households

• Retail markets show surprising • Vacancy rate is falling as shortage

3,785

• Orange County commercial activity is Population

MARKET HIGHLIGHTS

• Orange County’s largest private

companies posted their 3rd year of sales gains.

Households

71,491

Household Income Median

$45,729

Employees (Total)

Unemployment

10.30%

CONTACT

• Slow but positive absorption is seen

in the Office market.

• Industrial market is still lagging.

53,468

13.10%

CONTACT

Coldwell Banker Commercial NRT - Newport Beach 4 San Joaquin Plaza Suite 260 Newport Beach, CA 92660 (949) 644-1600 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial C&C Properties 2155 Larkspur Lane, Unit A Redding, CA 96002 (530) 221-9638 www.cbcnorthstate.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

CA - Sacramento Greater Area

CA - San Gabriel/San Fernando Valley

DEMOGRAPHICS

CBSA

Square Miles

Sacramento-Arden-Arcade-Roseville, CA 5,094

MARKET HIGHLIGHTS • Greater Sacramento area commercial

CBSA

market is still very slow. Sales of some small free-standing Retail properties have been picking up lately.

Square Miles

Los AngelesLong BeachSanta Ana, CA

• The area is experiencing heavy

4,850

• Look for lease rates and sales prices

2,141,658

Population

• There has been little to no new

investor and user activity due to low interest rates and low vacancy. to jump in the next 6 months.

• Office rents have stabilized. Population

MARKET HIGHLIGHTS

12,935,173

construction in this area.

• Retailers are back and so is their

appetite for large distribution space.

• 1,700 upscale Apartments are

• The 540,000 SF Palladio at

Households

801,834

Households

Household Income Median

$61,184

Employees (Total)

727,825

Employees (Total)

Unemployment

10.80%

Unemployment

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

Household Income Median

CONTACT

4,288,080

currently under construction in Glendale.

$60,485

5,313,010

10.30%

CONTACT

Coldwell Banker Commercial NRT - Sacramento 730 Alhambra Blvd., Suite 150 Sacramento, CA 95816 (926) 447-5900 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial North County 801 N Brand Blvd., Suite 180 Glendale, CA 91203 (818) 334-1900 www.cbcnco.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

Rental Rates

CA - Southwest Riverside County

CO - Western

DEMOGRAPHICS

CBSA

Square Miles

Population

Households Household Income Median Employees (Total)

Unemployment

MARKET HIGHLIGHTS

Riverside-San BernardinoOntario, CA

• The overall market continues to

27,260

• Vacancy levels are stable across the

4,171,856

1,350,253

$52,845

CBSA

stabilize with increased activity in all sectors.

Square Miles

Office, Industrial and Retail markets.

• Anti Gravity Sports is moving into

Population

two major markets with over 70,000 SF.

Grand Junction, CO

3,328

148,298

• The unemployment rate remain at

Households

60,317

• Land sales are on the rise with 93

Household Income Median

$47,409

12.5%, down from 15%, bringing optimism among business owners. acres recently sold in Lake Elsinore, CA for $1,500,000.

MARKET HIGHLIGHTS • The healthcare system in the Grand

Valley is nationally renowned, highly integrated, community-focused and unique to Western Colorado. The Physician-created Health Plan boosts care quality, lowers costs and is touted as a National model.

• Western Colorado is the Retail hub for

Western Colorado and Eastern Utah. The City of Grand Junction sales and use tax revenue increased by 1.7% from June of 2011 to June 2012. The Sales and use tax revenues comprise more than 40% of the City of Grand Junction’s total revenues.

• Western Colorado is a tourist

1,156,307

12.60%

Employees (Total)

54,564

Unemployment

9.40%

destination. The area offers world renowned mountain bike trails, growing agri-tourism industry, and the largest concentration of vineyards and wineries in the state. The lodging taxes collected in Q2 of 2012 had an increase of 6.3%.

• The new construction building permits

CONTACT

are up more than 13% in the Q1 2012. City of Grand Junction building permit valuation is down in Q2 more than 18% compared to Q1 2012. However, yearto-date new construction permits are up more than 37% from June 2011.

CONTACT

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

OFFICE

Coldwell Banker Commercial Prime Properties, LLC 2646 Patterson Rd., Suite B Grand Junction, CO 81506 • Colorado Mesa University Campus (970) 243-7375 www.grandjunctioncommercial.com continues to expand including a state-

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

CT - Danbury/Upper Fairfield/New Haven

CT - Fairfield County

DEMOGRAPHICS

CBSA

Square Miles

Population

BridgeportStamfordNorwalk, CT 626

904,874

MARKET HIGHLIGHTS • LL Bean (16,000 SF) is the latest NNN

CBSA

tenant to take space at Danbury Fair Mall. Others include: Forever 21, Brio, Cheesecake Factory and Dick’s Sporting Goods. Guidepost Publications has leased 54,000 SF of Class A Office space at the Matrix Corporate Center, in Danbury, CT.

Square Miles

Population

BridgeportStamfordNorwalk, CT 626

904,874

• Area vacancy rates are down due Households

336,733

Household Income Median

$91,039

Employees (Total)

Unemployment

419,437

Households

336,733

Household Income Median

$91,039

Employees (Total)

• New construction includes: $33.8m

Unemployment

419,437

7.80%

sublease space increased across the board from 2011 Year End. Office went from 599,000 SF to 851,000 SF; Industrial from 74,000 SF to 81,000 SF and Retail from 16,000 SF to 21,000 SF.

Coldwell Banker Commercial Scalzo Group 2 Stony Hill Rd., Suite 101 Bethel, CT 6801 (203) 744-7077 www.coldwellbankerscalzo.com • An increase in hiring since Q3 2010

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

continues to bolster Retail rentals, while the weaker housing sector is stimulating Apartment rentals.

Healthcare Research Institute leased 15,000 SF of Office. Gamma Aviation leased 15,000 SF of Industrial. Terrain Inc. leased 22,000 SF of Retail. UBS vacated 110,000 SF of Office. Patio. com vacated 20,000 SF of Industrial, and Chase Bank vacated 15,000 SF Retail/Office.

• The 150,000 SF Lockworks building

CONTACT

and multi-generational buyers, single family home sales volume and pricing have improved. Danbury has placed in the Top 10 in the nation for multi-generational living scenarios.

OFFICE

ended the Q2 of 2012 with a vacancy rate of 14.0% up from 13.5% with net absorption totaling negative 310,857 SF, compared with 68,806 SF in the Q1. Vacant sublease space increased to 850,551 SF up from 807,000 SF at Year End 2011.

• Significant movements: Western CT

• Due in part to lower mortgage rates,

CONTACT

• Fairfield County’s Office market

• Fairfield County’s available, vacant-

in part to low supply, and an influx of commuting professionals is now redesigning neighborhoods in Brewster, NY. Key transportation outlets allow them to commute to lower Fairfield County, New York City, DC and Boston; while enjoying a more affordable lifestyle. / 95,000 SF Armed Forces Reserve Center in Danbury, CT; Brookfield, CT. Costco is increasing existing building by 15,000 SF w/ a gas station; Danbury Regional Hospice to construct a 30,000 SF center.

7.80%

MARKET HIGHLIGHTS

was completed in 2012, plus an additional 313,000 SF of Retail is still under construction, however no Office or Industrial construction was completed, yet. There is 166,000 SF still under construction, the largest is 110 Quarry Rd with 74,726 SF.

• The average quoted asking rate is

$31.68 /SF for Office.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

DE - Sussex County

DEMOGRAPHICS CBSA

Square Miles

Seaford, DE

938

Population

194,215

Households

78,981

Household Income Median

$52,386

FL - Brevard County

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Panera Bread opened a new, free-

CBSA

standing store on Coastal Highway between Lewes and Rehoboth this spring. Several other national tenants are reportedly looking at the Route 1 corridor.

Square Miles

• The vacancy rate in eastern Sussex

County continues to fall. Absorption was strong this spring, and most prime Office space has been leased. Some prime Retail locations remain available but absorption has been good. The three outlet malls continue their long history of strong Retail sales.

Palm BayMelbourneTitusville, FL 1,018

Population

536,805

Households

225,977

Unemployment

68,986

strong in eastern Sussex. Commercial construction remains slow but availability of financing has improved.

• For the first half of 2012, the Sussex

8.70%

$56,299

Employees (Total)

181,926

Unemployment

County Association of Realtors reported a 22% increase in home sales by volume. The average home price was up 17% over 2011 YTD.

CONTACT

OFFICE

pro-business incentives, low taxes, robust transportation infrastructure, high-tech labor force, 73 degree average temp, and 72 miles of pristine beach.

• Foreign Trade Zone 136 has a superior

infrastructure for national/international trade including: the second busiest port in the world, a freight railway system and major interstate highways. operations at Melbourne International Airport with a new research and development facility and 200 new engineering jobs .

• BlueWare, Inc., a healthcare IT

company, is relocating its operations to Melbourne and expects to hire 190 employees to have an economic impact estimated to be over $22.4 million.

9.40%

• Rocket Crafters’ move to the Space

Coast Regional Airport in Titusville will have an economic impact over $48m. Bertram Yacht’s new facility in Merritt Island will have a projected economic impact of over $26.3m.

CONTACT

• Sussex County continues to be a

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

• “Space Coast” Brevard County offers

• Embraer Aircraft is expanding its

Household Income Median

• Residential construction remains Employees (Total)

MARKET HIGHLIGHTS

prime destination for retirees. Very low property taxes and NO sales tax are strong draws for those on fixed incomes.

Coldwell Banker Commercial Sun Land Realty 1920 Highway A1A Indian Harbour Beach, FL 32937 • Brevard’s June 2012 residential market (321) 777-7743 www.commercialsunlandrealty.com average sale price of $147,500 is up

• Sussex County is one of the largest

counties east of the Mississippi based on square miles, but the population is less than 200,000.

almost 13% over 2011 prices and the average days on the market of 119 has dropped 16% over 2011.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

FL - Charlotte/Sarasota Counties

FL - Daytona/Ormond Beach, Volusia County

DEMOGRAPHICS

CBSA

Sarasota BradentonVenice, FL

MARKET HIGHLIGHTS • A major new development in the area

is the Cocoplum Village Shops.

CBSA

• Vacancy is falling due to the Square Miles

economy and lost jobs.

1,313

Square Miles

• There has been some Retail and a Population

689,676

Households

311,173

Household Income Median

$58,236

Employees (Total)

230,801

Unemployment

Deltona Daytona Ormond Beach, FL

Hospital expansion, but other than that, not much new commercial construction.

1,103

• Joe’s Crab Shack, a 19,000 SF eating

area and 6,725 SF deck, opened July 1 and is the largest Joe’s Crab Shack on a pier over the Atlantic ocean. It is the beginning of the recently created entertainment district.

• 3 large ocean front raw land Population

495,625

Households

214,567

• The Residential market is currently

flat.

• The market has not changed in

general.

8.80%

CONTACT

• 11 start up companies are $47,500

Employees (Total)

146,482

• Embry Riddle University is selected as

9.10%

• Boardings continue to rise at Daytona

a drone test site as well as Next-gen test area.

• 800 ft Volusia County - city of

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

RETAIL

celebrating the first anniversary of the UCF Incubator at Daytona Beach International Airport.

Beach International Airport, and bed taxes continue to rise in the Hotel/ Motel resort area.

CONTACT

Coldwell Banker Commercial Sunstar Realty, Inc. 970 Kings Hwy., Suite 1 Port Charlotte, FL 33980 (941) 255-3497 www.sunstarcommercial.com

properties sold, with one major project being announced by a Canadian development company planning on building one of the area’s largest hotel/condo projects.

Household Income Median

Unemployment

OFFICE

MARKET HIGHLIGHTS

OFFICE

Ormond Beach oceanfront park breaks ground.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

FL - Destin

FL - Florida Keys

DEMOGRAPHICS CBSA

Fort Walton Beach Crestview Destin, FL

MARKET HIGHLIGHTS

DEMOGRAPHICS

• There has been increased velocity in

CBSA

income producing assets.

• There is a strong speculative interest

in land as inventory diminishes.

Square Miles

Population

936

Square Miles

Key West, FL

178,019

Population

process with price reductions.

Household Income Median

Households

73,047

32,553

72,513 Household Income Median

$60,945

Employees (Total)

67,600

Unemployment

6.10%

CONTACT

from internet competition.

and expanding. Retail is contracting. Hospitality and Restaurants are doing well.

• REO assets are working through the Households

• Fast Buck Freddies closed in Key West • Grocery and Pharmacy are doing well

997

• Condo absorption is at a four

year low, with less than 1 year of inventory.

MARKET HIGHLIGHTS

• Valero/Dunkin Donuts has built a new

store in the Middle Keys. Publix has opened a second store in Key West. Bank branches are consolidating.

• Inventory levels are declining at $71,455

the rate of 10% annually. Distressed properties represent only 13% of all properties for sale.

Employees (Total)

29,685

• Hospitality and tourism are

Unemployment

4.40%

• Barriers to entry are significant

booming with the highest ADR’s and occupancies in the state. related to the availability of building permits.

CONTACT

Coldwell Banker Commercial United, Realtors 4458 Legendary Dr. Destin, FL 32541 (850) 376-7289 www.cbcunitedgulfcoast.com

OFFICE

Coldwell Banker Commercial Schmitt Real Estate, Co 11100 Overseas Hwy. Marathon, FL 33050 (305) 743-5181 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

FL - Gainesville

DEMOGRAPHICS CBSA

Square Miles

Population

Households Household Income Median Employees (Total)

Unemployment

Gainesville, FL

FL - Indian River County

MARKET HIGHLIGHTS

DEMOGRAPHICS

• 91 percent of deals being done in the

CBSA

local CBC office are leasing.

• Of those properties being leased, 71

percent were Office and 15 percent Retail.

1,223

261,674

113,545

$45,060

Square Miles

• 18,000 SF positive Office lease

absorption and a 3,600 SF positive lease absorption.

Population

• Average Office lease rate is $13.33/SF

Households

gross and average Retail lease rate is $15.72/SF NNN.

Household Income Median

• Average Office listing is on the

• Even though time on market is high,

there is a tremendous amount of lease activity occurring, but little sale activity.

7.30%

• Large grocery store closed on US 1. • Overall market conditions are

gradually improving.

503

• Development interest is returning.

135,534

• New construction in residential single

family is up in 2012.

• Owner users are the primary buyers

market 426 days and average Retail listing is on the market 585 days.

87,322

Sebastian-Vero Beach, FL

MARKET HIGHLIGHTS

CONTACT

59,807

for Office and Retail.

• New corporate interest in moving to $62,271

Employees (Total)

43,595

Unemployment

11.30%

Indian River County.

CONTACT

Coldwell Banker Commercial M.M. Parrish Realtors 3870 NW 83rd St. Gainesville, FL 32606 (352) 264-3772 www.mmparrish.com/commercial

OFFICE

Coldwell Banker Commercial Ed Schlitt, L.C. 1950 U. S. 1 Vero Beach, FL 32960 (772) 460-2081 www.cbc.flcoldwellbanker.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

FL - Jacksonville

DEMOGRAPHICS CBSA

Square Miles

Population

Jacksonville, FL

3,221

1,334,380

FL - Lakeland/Winter Haven

MARKET HIGHLIGHTS

DEMOGRAPHICS

• The medical practice of Dr. Scott

CBSA

and Karen Warren purchased a 7,886 SF Retail building in Ponte Vedra Beach, FL for just under $1.79m. CBC Benchmark’s Colin Nicholson and Travis Lemley represented the Heritage Bank of Florida in the REO sale.

Square Miles

Lakeland Winter Haven, FL

518,910

Household Income Median

$60,216

Employees (Total)

Unemployment

8.50%

Apartment property sold for $38.6m or $150,194/unit. The sale is just less than last year’s highest perunit transaction, $153,405/unit, of Tattersail at Tapestry Park.

Population

606,019

Households

228,998

Household Income Median

$40,730

Employees (Total)

245,900

Unemployment

Warehouse to 1 million SF.

Industrial space. No large blocks of space (over 100,000) are immediately available.

• Florida Polytechnic launched as

Florida’s 12th University. Expect demand for R & D space in NE Lakeland.

for expanded call center operation and will hire over 300 employees.

10.00%

• Foreclosure activity continues to

and golf headed to the Olympics in 2016, there is increased international interest in golf properties. Visit www. cbcgolfcoursesales.com for more information. Five new course listings have been added in the last two months.

drive demand for Apartments; Vacancy is at all time low.

CONTACT

Coldwell Banker Commercial Benchmark 4348 Southpoint Blvd., Suite 310 • The Summit Contracting Group Jacksonville, FL 32216 of Jacksonville has won a $24.6m (904) 281-1990 contract to build a 230 unit student www.cbcbenchmark.com

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

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

OFFICE

• Publix expands County Line RD

• Sykes leases 90,000 SF of Office space

• With the Olympics in full swing,

CONTACT

exceeding expectations. The water park opened in May 2012. CBC Saunders Ralston Dantzler launch commercial sites at Legoland for restaurants and hotels.

• Little or no vacancy of high-quality

based REIT, agreed to purchase the Samsonite distribution facility at Imeson Industrial Park in Jacksonville, FL. The 817,680 SF building sold for $42.5m or $52/SF

• The Villas at St. Johns, a Riverside 551,254

• LEGOLAND Florida attendance

2,010

• Global Income Trust Inc., an OrlandoHouseholds

MARKET HIGHLIGHTS

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

FL - Melbourne/Brevard County

FL - Naples/Ft. Myers

DEMOGRAPHICS

CBSA

Palm BayMelbourneTitusville, FL

MARKET HIGHLIGHTS • Embraer expands, and Mid Air

CBSA

constructs 180,000 SF.

• Commercial leasing is recovering. Square Miles

Population

Port Canaveral growth continues with more than 3 million cruise passengers in 2011.

1,018

536,805

Square Miles

Population

• Numerous large hire companies are

Naples-Marco Island, FL

• This is the time to buy in Naples/Ft.

2,025

• Retail improves with vacancy down

225,977

Household Income Median

$56,299

Employees (Total)

181,926

Unemployment

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

320,101

relocating to Brevard County.

Households

MARKET HIGHLIGHTS

• Office continues with vacancy at

15.1%.

• Industrial has a long way to go. There

• Residential market is recovering. New

construction taking place in Viera. Inventory is down.

• National tenants are seeking sites.

Households

132,487

Household Income Median

$76,515

Employees (Total)

115,960

are many bargains at this time.

• Private space sector is replacing

NASA and hiring NASA Engineers.

Unemployment

9.40%

CONTACT

8.80%

CONTACT

Coldwell Banker Commercial Ed Schlitt, L.C. 235 Fifth Ave. Indialantic, FL 32903 (321) 723-9500 www.cbc.flcoldwellbanker.com

OFFICE

Coldwell Banker Commercial NRT - Naples 550 Fifth Ave. South Naples, FL 34102 (239) 596-6130 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

FL - Orlando

FL - Polk County

DEMOGRAPHICS CBSA

Square Miles

Orlando Kissimmee, FL

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Baer’s Furniture moved out of 35,000

CBSA

SF in Altamonte Springs.

Lakeland Winter Haven, FL

• 75,000 SF of Office space was leased Square Miles

of Retail space were completed in Orlando.

2,093,845

Population

606,019

Households

228,998

Household Income Median

$40,730

Employees (Total)

239,100

Unemployment

10.00%

• Class-B Office space net absorption Households Household Income Median

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

799,047

• Amcor Rigid Plastics USA is moving

into 500,000 SF of Industrial Space.

$53,425

• Flex building recorded net absorption

of positive 91,666 SF.

Employees (Total)

Unemployment

$13,472,900.

were down slightly from the Q4 of 2011.

2,010

• 10 buildings totaling 137,403 SF Population

• Lakeland Industrial building sells for • Rental rates for Retail in Polk County

by Florida Institute of Technology.

3,491

MARKET HIGHLIGHTS

956,766

8.70%

CONTACT

• John Deere Landscaping leased

8,190 SF on 2700 Combee Rd. in Polk County.

• Office vacancy and rental rates in

Polk County remained virtually unchanged. Slight increases in absorption were noted.

• One of the largest transactions

that has occurred within the last four Quarters in the Tampa/St. Pete market is the sale of 1515 W. Bella Vista St. in Lakeland. This 180,000 SF Industrial building sold for $13,472,900 or $74.85 per SF on 9/9/11.

CONTACT

Coldwell Banker Commercial NRT - Maitland 901 N Lake Destiny Dr., Suite 110 Maitland, FL 32751 (407) 571-5294 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial NRT - Winter Haven 290 Cypress Gardens Blvd.. Winter Haven, FL 33880 (863) 294-7541 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

N/A

Absorption

N/A

Absorption

N/A

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

N/A

FL - Sarasota/Manatee/Charlotte Counties

FL - Southern

DEMOGRAPHICS

CBSA

Square Miles

SarasotaBradentonVenice, FL

MARKET HIGHLIGHTS • Industrial absorption is picking up.

CBSA

• Manatee County-Feld Industry and

Dentsply purchased 750,000 SF Industrial.

1,313

Key West, FL

Square Miles

689,676

Households

311,173

Household Income Median

$58,236

Employees (Total)

230,801

Population

• Multi-Family properties are in high

• Publix opened a second store in Key

West, and is planning a new store in Islamorada.

997

• Vacancies are falling due to

73,047

• Dunkin Donuts is expanding into

expansions and new business moving to the Keys.

• New home sales have picked up. Population

MARKET HIGHLIGHTS

demand.

Marathon with a new store.

• Unemployment dropped from 12% to

8% percent overall.

• International tourism was a big factor

in this years season.

Households

32,553

• Residential inventories are going

Household Income Median

$71,455

• The Keys enjoy the highest ADR and

Employees (Total)

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

29,685

• Barriers to entry are very high given

land use and environmental issues.

Unemployment

9.00%

CONTACT

4.40%

CONTACT

Coldwell Banker Commercial NRT - Sarasota 100 N. Tamiami Trail Sarasota, FL 34236 (941) 925-8586 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial Schmitt Real Estate, Co. 11050 Overseas Hwy. Key West, FL 33050 (305) 743-5181 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

FL - St. Lucie County

FL - Tallahassee

DEMOGRAPHICS

CBSA

Square Miles

Population

MARKET HIGHLIGHTS

Port St. Lucie, FL

• Vacancy in Retail seems to be at

1,128

• Residential market has improved

407,361

• There have been more land sales this

CBSA

a standstill. Small office space is moving (mostly 3,000 SF and under).

Square Miles

greatly in the St. Lucie County, FL area. Inventory is low.

Population

MARKET HIGHLIGHTS

Tallahassee, FL

• Whole Foods is planned to open in

2,387

• Office vacancy is rising and stands at

361,765

year than in the past three years!

2013. Academy Sports opened in 2012.

22%. The major reason is the state of Florida is vacating several large spaces.

• VA Hospital is planned to open in

Households

169,340

Households

154,494

Household Income Median

$53,266

Household Income Median

$47,364

Employees (Total)

117,662

Employees (Total)

111,973

2013. There are also multiple FSU student Multi-Family projects in progress in College Town.

• Residential transaction volume is up

6% the first half of 2012. Inventory is decreasing; prices are stable and increasing in certain areas.

• Unemployment is down to 7.2% vs

7.9% this time last year, one of the lowest rates in the state.

Unemployment

10.90%

CONTACT

7.20%

• Gaines Street Retail Re-development

CONTACT

Coldwell Banker Commercial NRT - Port St. Lucie 1973 SW Savage Blvd. Port St. Lucie, FL 34953 (772) 621-7518 www.cbcworldwide.com

OFFICE

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

RETAIL

OFFICE

is finally happening. Mid-town is continuing it’s Retail expansion. New FSU Student housing projects coming on line (approximately 4,500 beds) in the next few years. Tallahassee has also become a national top retirement destination.

RETAIL

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

FL - Tampa/St. Petersburg

GA - Athens

DEMOGRAPHICS

CBSA

Tampa-St. PetersburgClearwater, FL

MARKET HIGHLIGHTS • Moffit Cancer Center is moving into

CBSA

100,000 SF on Telcom Dr.

• Tampa/St. Petersburg Office vacancy Square Miles

ended unchanged in Q2 of 2012.

2,554

Square Miles

Athens-Clarke County, GA

• In spring of 2012, Caterpillar Inc.

1,031

• The plant will be located on an

• Retail net absorption was slightly Population

2,757,566

positive in Tampa/St. Petersburg.

Household Income Median Employees (Total)

Unemployment

1,166,605

$49,596

1,059,081

9.00%

CONTACT

announced the relocation of a $200 million plant to Athens, GA. 860 acre Industrial parcel between U.S. Highway 78 and GA Hwy 316 in Clarke and Oconee Counties. Caterpillar has already broken ground and will start production in 2013.

Population

193,495

Households

77,486

• Wages will be at or above the median

Household Income Median

$40,278

• In addition to the 1,400 factory jobs

• During Q2, two buildings totaling

162,196 SF were completed.

Households

MARKET HIGHLIGHTS

Employees (Total)

60,760

Unemployment

7.50%

incomes of Clarke and Oconee Counties.

created, Caterpillar will indirectly create another 2,800 jobs through its $57 million payroll and $39 million in increased retail spending, generating $1 million in annual sales tax revenue. Georgia Governor Nathan Deal called the relocation a “game-changer” for Athens and the surrounding counties.

CONTACT

Coldwell Banker Commercial NRT - Tampa 5010 W. Kennedy Blvd., 2nd Floor Tampa, FL 33609 (813) 286-2964 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial Upchurch Realty 2405 W. Broad St. Athens, GA 30606 (706) 354-7870 www.upchurchrealtycommercial.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

GA - Atlanta

GA - Chatham County

DEMOGRAPHICS CBSA

Square Miles

Atlanta-Sandy Springs Marietta, GA 8,376

Population

5,521,582

Households

2,028,400

Household Income Median Employees (Total)

Unemployment

$60,590

2,223,339

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Atlanta’s office market began 2012

CBSA

with absorption totaling just over 625,000 SF, an amount equal to almost all of last year’s total. Atlanta’s office market recovery continues to show signs of strengthening.

Square Miles

• On the whole, Retail absorption

topped 240,000 SF in Q1 of 2012 with shopping centers seeing the bulk of the occupancy gains.

• At mid-year 2012, the recovery of

Atlanta’s industrial market remains solid. Q2 absorption topped 2.5 million SF, which is the second highest amount of industrial space absorbed in the past four quarters.

• Since the end of 2009, the overall retail

vacancy rate in the Atlanta region has essentially remained unchanged. The occupancy gains experienced during this period of time have been matched almost equally by the amount of vacant space added to the market.

9.30%

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

OFFICE

1,359

• Gulfstream has launched a $500m,

seven-year expansion program at its Savannah facility. As part of the program, Gulfstream will add 1,000 jobs, increasing the workforce to about 6,500 employees in Savannah.

• Mitsubishi Power Systems Americas

Population

347,453

Households

130,609

Household Income Median

$55,567

Employees (Total)

129,296

• New construction includes a Nordic

9.10%

• Groundbreaking for West Chatham

Unemployment

dedicated its new $325 million Savannah Machinery Works, a state-of-the-art facility that will manufacture goods to provide power to the electric grid both in the U.S. and around the world. The complex will employ some 500 people and create millions of dollars in economic activity for Georgia. Logistics and Warehousing 400,000 SF cold storage facility. water park / IMAX theater complex.

• One West Victory, $20 million Mixed-

use facility, has broken ground.

• While housing starts are only

CONTACT

Savannah, GA

MARKET HIGHLIGHTS

CONTACT

just beginning to show an uptick, anecdotal evidence indicates supply for new housing in desirable locations is running low.

• Construction of 700+ unit Multi-

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

• On the whole, Atlanta’s office market

will likely see less absorption in the Q3 thanks to a number of consolidations set to occur; yet still remain in positive territory.

RETAIL

OFFICE

Family project is taking place with more planned.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

GA - Columbus

DEMOGRAPHICS CBSA

Square Miles

Columbus, GA-AL

1,937

GA - Hinesville/Fort Stewart

MARKET HIGHLIGHTS

DEMOGRAPHICS

• AFS America, a primary supplier for

CBSA

Hyundai and Kia, has chosen Columbus for a new manufacturing plant, which will bring 65 new jobs. It is expected to be completed by early 2013.

Square Miles

Hinesville-Fort Stewart, GA

• The Hinesville/Fort Stewart MSA was

920

• The Hinesville/Fort Stewart MSA was

Households Household Income Median Employees (Total)

Unemployment

293,977

117,712

$49,432

93,485

9.80%

Martin Army Community Hospital to house 75 beds, with a total Investment of $408 million.

Population

73,844

• Fort Stewart is the largest military

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

the 4th fastest growing MSA for Job growth 2010/2011.

• Construction has started on a new Population

MARKET HIGHLIGHTS

installation east of the Mississippi River.

• Columbus is opening a branch of the

Households

Mercer Medical School by way of a partnership between Mercer, Columbus Regional Healthcare and St Francis Hospital. The first 14 students are studying here now.

Household Income Median

• Overall housing market in Columbus,

Employees (Total)

GA is projected to recover slowly with steady growth. Overall price points combined with low interest rates and rising income provide for an affordability index that is at historic highs.

26,115

• Fort Stewart has a $7.13 billion

economic impact on the region.

$48,667

• Liberty County is centrally located

between 4 deep water ports, 2 within 45 minutes.

12,145

• Liberty county has a highly

disciplined, motivated and trained military retiree work force.

Unemployment

9.60%

• Columbus market has enjoyed stability,

with periods of growth primarily due to the expansion and reallocation of troops coming into Ft. Benning - the new Maneuver Center of Excellence.

CONTACT

Coldwell Banker Commercial Kennon, Parker, Duncan & Key 4621 River Rd. Suite C • Moody’s long term assessment for Columbus, GA 31904 Columbus is that it will outperform (706) 256-1500 www.commercialcolumbusga.com the nation over the next two years.

Coldwell Banker Commercial Holtzman Realtors 730 General Stewart Way Hinesville, GA 31313 (912) 408-4040 www.cbcholtzman.com

Overall, southern metropolitan areas are expected to outpace the nation at even greater numbers.

OFFICE

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

GA - Lake Oconee/Lake Sinclair

GA - Macon, Bibb County

DEMOGRAPHICS

CBSA

Square Miles

Greene County, GA

345

Population

21,218

Households

8,601

Household Income Median Employees (Total)

Unemployment

$50,485

5,263

9.40%

MARKET HIGHLIGHTS • MetLife completes acquisition of

CBSA

Reynolds Plantation. Purchase included six championship golf courses, dining, swimming pools, pedestrian trails, marinas, a tennis center and a wellness campus.

Square Miles

• Also included was the Ritz-Carlton

Lodge, a 251-room lakefront resort and spa, which was named as a 2012 AAA Five Diamond Lodging, and hundreds of acres of prime commercial real estate. leader in biologic medical therapies, has announced it will build a new state-of-the-art manufacturing facility nearby to support growth of its plasma-based treatments, resulting in the creation of more than 1,500 full-time positions in GA.

1,725

232,119

Households

89,721

construction of its 700,000 SF regional distribution facility that will employ 200 people.

$47,145

world’s most dependable sources of aftermarket A/C parts, has leased a 110,000 SF Warehouse in Macon that will serve the Southeast Region and employ over 50 positions.

• Vacancy is falling because of high

level of manufacturer/distributors being located near the Port of Savannah along Interstate 16 and 75.

• NW Technologies is constructing a Employees (Total)

Unemployment

• The number of units sold has

83,398

10.10%

increased in both the local Commercial and Residential market, compared YTD in 2011.

CONTACT

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

OFFICE

• Tractor Supply has begun

• Global Parts Distributors, one of the

Population

Household Income Median

• Baxter International Inc., a global

Macon, GA

MARKET HIGHLIGHTS

$20,000,000 polar and wind products manufacturing facility here that will employ over 150 new positions.

• The residential market is keeping

with national trends; new housing starts are mostly non-existent and resales of existing homes are up 2% over year end 2010. Several new Multi-Family Apartment developments are under way, started in 2011 to be finished in 2012.

Coldwell Banker Commercial Eberhardt & Barry • Local voters approved a 990 Riverside Dr. consolidation of City and County Macon, GA 31201 Governments. (478) 746-8171 www.coldwellbankercommercialeb.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

HI - Honolulu

DEMOGRAPHICS CBSA

Square Miles

Population

Honolulu, HI

600

910,677

Households

311,782

Household Income Median

$67,192

Employees (Total)

365,718

ID - Boise

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Hawaii’s economy remains healthier

CBSA

than the continental U.S. However, it is slowing due to stagnant labor markets and limited construction. Tourism remains a bright spot posting an 8.5% increase in visitor arrivals over 2011 levels.

Square Miles

Population

• Hawaii’s construction is a replay of

2011 for 2012, with only military and government projects being awarded, attracting out-of-state firms to compete for these contracts.

• In 2012, the unemployment rate

decreased to 6.4%.

Boise CityNampa, ID

11,788

610,611

Households

224,823

Household Income Median

$55,100

Employees (Total)

232,386

• Larry Ellison, CEO of Oracle,

Unemployment

• Major grocer openings in the Boise

area market in 2012 include: Fred Meyer, Rosauer’s Supermarket and Whole Foods opening November 2012. Walmart will open two new locations in 2013/2014 in Meridian, ID.

• Meridian Town Center, a 500,000 SF,

$250m Retail project in Meridian, Idaho, is underway. Developer, CenterCal Properties has leased over 200,000 SF of the project’s space. Tenants include Gordman’s, Marshalls, Petco, Gap Outlet, Chick-fil-A, Cinema West and Big Al’s Sports Bar.

• The number of new home sales is

purchased the Island of Lanai, the 6th largest island in the state. The purchase price is estimated upwards of $500 million.

Unemployment

6.40%

CONTACT Coldwell Banker Commercial Pacific Properties 737 Bishop St., Suite 2000 Honolulu, HI 96813 (808) 526-0896 www.cbcpacific.com

economic improvement characterized by steady, broad-based job growth and increasing property values, both residential and commercial.

• Idaho’s unemployment rate dropped

Coldwell Banker Commercial NRT - Boise 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (208) 888-1825 www.coldwellutah.com

RETAIL

up an incredible 100% for the Q1 of 2012 compared to 2011.

• The Boise area has seen marked 7.30%

CONTACT

OFFICE

MARKET HIGHLIGHTS

OFFICE

a tenth of a point to 7.8% in June 2012 the lowest since September 2009.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

ID - Coeur d’ Alene

DEMOGRAPHICS CBSA

Square Miles

Population

Coeur d’Alene, ID

IL - Bloomington/Normal, McLean County

MARKET HIGHLIGHTS

DEMOGRAPHICS

• WinCo anchored Shopping Center

CBSA

planned for construction in 2013.

• Lack of new construction for Multi-

Family projects is helping with absorption.

1,245

140,628

Square Miles

• There has been a fair amount of

Population

Owner Occupied new construction.

BloomingtonNormal, IL

Household Income Median

53,154

$50,618

• State Farm Insurance continues

employment growth.

• Uptown Normal is busy with a

Transportation Center and other projects in the works.

1,184

168,918

• Rental rates continue to stay Households

MARKET HIGHLIGHTS

• ISU campus apartment development

is active.

• Healthcare expansions are planned

stagnant, but Landlord concessions are starting to drop.

Households Household Income Median

• Continues to be a buyers market ripe

with Owner Occupied opportunities.

70,687

• Local jobless rate stays consistently $59,825

best in the state.

• The local housing market is up 25%.

Employees (Total)

49,226

Employees (Total)

69,980

Unemployment

8.00%

Unemployment

7.60%

CONTACT

for Advocate BroMenn and OSF.

CONTACT

Coldwell Banker Commercial Schneidmiller Realty 2000 Northwest Blvd.; Suite 200 Coeur d’Alene, ID 83814 (208) 664-1461 www.cbcsr.com

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

IL - Champaign/Urbana

IL - Chicagoland

DEMOGRAPHICS

CBSA

Square Miles

Population

MARKET HIGHLIGHTS

ChampaignUrbana, IL

• Carle Hospital has announced plans

1,923

• Parkland College has completed

227,494

CBSA

for expansion of their Emergency Room department.

Square Miles

their new Applied Technology Center and begun work on a new Student Services addition.

Population

Chicago Naperville Joliet, IL-IN-WI 7,212

9,617,804

• Easton-Bell Sports has announced Households Household Income Median

97,325

Households

and has seen a lot of activity in the first half of 2012.

Household Income Median

• The student housing market remains Employees (Total)

80,156

Unemployment

9.10%

very hot with cap rates falling below 6% on the University of Illinois Campus.

Employees (Total)

• The University of Illinois is continuing

Unemployment

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

CONTACT

3,484,370

$66,775

4,186,171

9.30%

continued to improve in the Q2 of 2012. There was 5,817,000 SF of net absorption. The vacancy rate decreased to 10.6 %. The largest leases signed in 2012 so far are M Block & Sons for 916,000 SF and Bridgestone for 406,000 SF.

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

Coldwell Banker Commercial NRT - Chicago 2215 Sanders Rd. Northbrook, IL 60062 (847) 313-4600 www.cbcworldwide.com

RETAIL

decreased in the Q2 and Retail vacancy only increased slightly. The reason the vacancy has fallen is because there was very little new construction, and several large new leases were signed.

• There was 453,000 SF of new Industrial

space, 425,000 SF of new Office space and 117,000 SF of new Retail space constructed. These are very nominal amounts of new space when compared to the size of the overall markets.

• The residential market has shown

CONTACT

OFFICE

• The Chicago Industrial market

• The vacancy rate in Industrial and Office

plans for a 800,000 SF facility in Rantoul.

• The Retail segment bounced back $47,851

MARKET HIGHLIGHTS

OFFICE

dramatic improvement. Sales of single family homes have increased significantly and prices are starting to increase. The Apartment market continues to flourish with low vacancies, increasing rents and several new projects being built.

• The Industrial market has been very

active with large absorption over the last 3 Quarters. Office has also shown significant improvement, but vacancy rates in the suburban markets are still over 16%.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

IL - Madison/St. Clair Counties

IL - Peoria County

DEMOGRAPHICS

CBSA

Square Miles

Population

MARKET HIGHLIGHTS

St. Louis, MO-IL

• Sam’s Store purchased property in

9,392

• Southern Illinois University

CBSA

Glen Carbon. This is the second store in the Metro East St. Louis market.

Square Miles

Edwardsville is completing $200 million + in construction projects this year.

2,858,935

Peoria, IL

2,470

Household Income Median

leased, and two more projects are under consideration.

1,125,496

Force Base.

• Three Hospital projects are under 1,261,660

377,630

Households

153,377

Household Income Median

$60,133

• A major sands oil refining project was

Employees (Total)

157,932

• Commercial market is definitely

7.90%

• Unemployment in the Tri County

just completed by Conoco Phillips.

Unemployment

Economic uncertainty is the biggest factor.

Population

consideration.

Employees (Total)

expand in the area. Big R has now leased two large vacant centers in the area. CAT announced a major retrofit of general offices.

• New commercial construction

• This market is home to Scott Air $57,785

• Healthcare Industry continues to

• Vacancy in this region is fairly static.

• New student housing project is fully Households

MARKET HIGHLIGHTS

Unemployment

9.00%

CONTACT

is spotty, but there are huge improvements from two years ago.

• The Residential market has

construction starting, and home purchasing is on the upswing. improving, both property sales and leasing. area continues to decline. Caterpillar continues as a major force in Peoria and surrounding areas.

CONTACT

Coldwell Banker Commercial Brown Realtors 2205 South State Route 157 Edwardsville, IL 62025 (618) 692-7290 www.brownrealtorscommercial.com

OFFICE

Coldwell Banker Commercial Devonshire Realty 4507 N. Sterling Ave., Suite 203 Peoria, IL 61615 (309) 692-7707 www.cbcdr.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

N/A

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

IL - Sangamon County

IN - Delaware County

DEMOGRAPHICS

CBSA

Square Miles

Springfield, IL

MARKET HIGHLIGHTS • There is a very strong medical

CBSA

influence in this market.

• Capitol of Illinois adds to strong

employment base.

868

Square Miles

Muncie, IN

196,269

influence in this area.

Population

115,425

Household Income Median

• There is lower than average

unemployment in this area.

$56,722

• A new Auto Mall is being developed

on 72 acre site.

the past 7 months.

82,636

new jobs.

extend leases and IBM is expanding at Heartland Business Center in Daleville.

• Residential market has been up for Households

• Sallie Mae added 50,000 SF and 200 • Jarden Home Brands and IBM

393

• There is a strong agricultural Population

MARKET HIGHLIGHTS

• Springfield has a strong tourism draw

with Lincoln sites.

Households

48,625

• Three new student housing projects

Household Income Median

$40,907

• Residential Market - unit sale up

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

Employees (Total)

83,238

Employees (Total)

42,446

Unemployment

7.70%

Unemployment

9.70%

• Magna Power Trac is adding 50,000

SF and 50 jobs.

• Delaware Advancement Corporation

announces completion of new 40,000 SF Industrial shell building.

• New 50,000 SF light Industrial

CONTACT

building being constructed at Heartland Business Center in Daleville.

CONTACT

Coldwell Banker Commercial Devonshire Realty 3201 Old Jacksonville Rd. Springfield, IL 62711 (217) 547-6650 www.cbcdr.com

OFFICE

Coldwell Banker Commercial Lunsford 3601 W. Bethel Ave. Muncie, IN 47304 (765) 289-2228 www.cblcre.com

RETAIL

OFFICE

• Spartech Packaging Technologies

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

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

KS - Garden City

DEMOGRAPHICS CBSA

Square Miles

Population

Garden City, KS

KS - Kansas City Metro Area

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Aztec Oil Company has moved into

CBSA

the area.

• Vacancy is falling because this area is

center for Oil & Gas + a major Retail Center.

1,302

42,609

Square Miles

Kansas City, MO-KS

Household Income Median

• Retail sales in the Metro area are

• New construction is starting again.

Population

2,076,653

up. New Retail and entertainment construction is underway.

• Home sales in the metro area are up. Households

• This area is growing as a Major Retail

Center.

$43,008

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

strong.

13,697

• Unemployment has lowered to 7.6% • The new Ford Claycomo plant is

7,857

• This residential market is stable and Households

MARKET HIGHLIGHTS

• This is an Aggressive Market Area.

$60,301

914,989

13,558

Employees (Total)

Unemployment

4.20%

Unemployment

• Surveys show that business executive

confidence is up.

Household Income Median

Employees (Total)

CONTACT

819,900

• The continued good farm economy is

having a positive effect on the Metro area.

6.80%

CONTACT

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

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

KY - Louisville Metro

KY - Southern

DEMOGRAPHICS

CBSA

Square Miles

Population

Louisville Jefferson County, KY-IN 4,135

1,263,217

Households

506,857

Household Income Median

$54,741

Employees (Total)

Unemployment

MARKET HIGHLIGHTS • Louisville employment has been stronger

than many markets during the last two years. Contributors have included the UPS National Airhub, the Ford plants, GE Appliance Park, YUM! Brands, and the vitality of the medical industry (example: Humana acquired Kindred of St. Louis in 2011).

CBSA

Square Miles

• Investor interest in Louisville Multi-Family

is high, and cap rates are significantly higher than in glitzier markets. The problem, as elsewhere, is a lack of product as owners hang on to their properties in this time of rising rents and occupancy. There is some new construction.

• Retail in Louisville is flat as in much of 549,941

8.30%

the country. There is low double-digit vacancy. It’s probably poised to bounce back quickly when national economy rebounds. Newcomers such as Nike Factory Outlet, Trader Joe’s, Urban Outfitters and others are hopefully the vanguard.

Bowling Green, KY

MARKET HIGHLIGHTS • Holley Performance Products

announces $7 million+ expansion.

• Fruit of the Loom continues to grow

international headquarters in Bowling Green.

848

• Corvette Plant announces 60th

Population

121,646

Households

50,840

• Warren County has been ranked as

Household Income Median

$46,805

• Newsweek Ranks WKU’s Gatton

Employees (Total)

Anniversary Model. All Corvettes are built in Bowling Green, KY. Kentucky’s #1 County for Private Sector Growth for 10 Years.

Academy as #1 High School in the Country.

50,727

• Taggart Solar to locate in Edmonson

County Industrial Park.

Unemployment

7.40%

• Industrial Louisville leasing activity is

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

OFFICE

strongest in five years, except for 2008. Rates are fairly flat over last five years. Vacancy has dropped below 8% for first time in last five years.

CONTACT

• Louisville Office remains a weak sector,

but with some improvement, especially in Class A. Vacancy above 10% for Class A; mid-teens for B; and high teens for C. Flat rental rates. Total leasing activity best in several years, but well shy of 2007.

RETAIL

Coldwell Banker Commercial Legacy Real Estate Group 2435 Fitzgerald Industrial Dr., Suite 101 Bowling Green, KY 42104 (270) 781-3844 www.cbclegacy.com

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

LA - Acadiana

DEMOGRAPHICS CBSA

Square Miles

Population

Households

Lafayette, LA

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Oil and gas industry continues to

CBSA

drive all segments of the Arcadiania market.

1,010

• New Medical facilities on the south

Square Miles

264,966

• Halliburton recently opened a new

Population

side of the city are increasing activity both commercially and residentially.

101,487

manufacturing facility in Lafayette North. This activity has spurred new growth along the I-49 corridor.

$54,248

Employees (Total)

139,997

• GE Capital Center brings 300 direct

3,153

• Vacancy rates are falling across most

1,230,886

Households

469,474

or lease are statistically non-existent, which continues to foster new Land developments and new construction of Industrial buildings of all sizes.

Household Income Median

$58,413

• Existing building renovations

Employees (Total)

458,428

medical facility upgrades are leading to increased demand for space in the New Orleans area.

• Residential inventory is nearing

2005 levels of supply, and demand has improved, which is leading to increased pricing. fastest growing market in America.

Unemployment

remains a challenge but has loosened considerably in 2012.

8.70%

• Due to tax incentives, quality of life

and a positive business climate, young entrepreneurs are choosing New Orleans to open their businesses for the first time since the 1960’s.

CONTACT

Coldwell Banker Commercial Pelican Real Estate 806 East Saint Mary Blvd. Lafayette, LA 70503 (337) 233-9541 www.cbcpelican.com

OFFICE

product types due to expanding technology in the medical and biomedical employment sectors in this market.

• Forbes named New Orleans the

• Funding for speculative projects

CONTACT

jobs to New Orleans in its technology center.

• Substantial transportation and

are a hot market, not only in the traditional in-fill areas, but also in older Industrial areas where an infrastructure is in place and land values reasonably priced.

6.20%

MARKET HIGHLIGHTS

New OrleansMetairie Kenner, LA

• Industrial buildings available for sale

Household Income Median

Unemployment

LA - New Orleans

Coldwell Banker Commercial TEC Realtors 701 Loyola Ave., Suite 401, P.O. Box 50070 New Orleans, LA 70150 (504) 566-1777 www.cbctec.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

ME - Midcoast

DEMOGRAPHICS CBSA

Square Miles

Population

Rockland, ME

366

40,753

MD - Suburban

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Midcoast Maine is starting to

CBSA

see substantial increase in Retail development. Walmart is breaking ground on their new Super Walmart 150,000 SF Retail center in August 2012. Tractor Supply will follow shortly thereafter with their new 20,000 SF Retail building.

Square Miles

Population

BaltimoreTowson, MD

• BRAC (Base Realignment and Closure)

2,609

• Tenants moving into large blocks of

2,697,935

23,744

Household Income Median

$52,132

and attractive lifestyle, Midcoast Maine is seeing further growth in the sale of residential properties. Prices have increased 12% over the past twelve month period.

Households Household Income Median

• Many Flags Regional School/College

Employees (Total)

15,971

Unemployment

6.90%

Campus is closer to becoming a reality with the State of Maine now seeking ways to fund the development of the one-of-a-kind campus.

Employees (Total)

Unemployment

• Tourism traffic is ahead of 2011

for the area. The outlook for the immediate future is looking very promising despite the economic news.

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

OFFICE

continues to fuel Defense Contractor activity in the Fort Meade area. Office space include the US Navy, 67,334 SF in Annapolis and Ciena Corp, 88,405 in Hanover.

• A flat economy and flat job growth

• Due to continued national exposure Households

MARKET HIGHLIGHTS

1,053,696

has caused Office absorption and rental rates to decline.

$70,020

1,099,602

7.80%

CONTACT

• Retail sales continue to be up. One

Coldwell Banker Commercial NRT - Annapolis 170 Jennifer Rd., Suite 102 Annapolis, MD 21401 (410) 224-2200 www.cbcbannapolis.com

example, a national Retail lumber store continues to see increases in their year-over-year sales since opening approximately six years ago. The outlook for them and others in the area continues to look good. Retail trade area -114,000 residents.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

N/A

Rental Rates

N/A

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

MA - Pioneer Valley

MI - Middle

DEMOGRAPHICS

CBSA

Springfield, MA

MARKET HIGHLIGHTS • Bargains are here.

CBSA

• This is a small city with big Square Miles

opportunities.

1,849

Square Miles

• Brand new casino is coming to the

Lansing-East Lansing, MI

1,707

area soon!

Population

699,962

286,180

Household Income Median

$54,006

Employees (Total)

244,160

• Emergent Biosolutions has been

awarded military contracts and building additions that will nearly double their current office and production facility.

• There is growing demand for Office

space of 10,000 SF and higher, while Office space less than 10,000 SF remains flat.

• Longmeadow provides easy highway

Population

453,378

• Longmeadow is triangulated between

Households

184,334

• Residential construction had a Q1

Household Income Median

$54,211

• Residential sales are up for the first

Employees (Total)

165,594

access.

Households

MARKET HIGHLIGHTS

NYC, Hartford, Boston and Albany.

rebounded, but has slowed over the Q2. half of 2012 by nearly 20%, making 11 consecutive months of positive growth in mid-Michigan.

• Unemployment in mid-Michigan Unemployment

Unemployment

7.50%

is below the State and National average, and the real estate market appears to be making a gradual positive turn.

7.70%

• All 4 sectors of mid-Michigan

CONTACT

Coldwell Banker Commercial NRT - MA 136 Dwight Rd. Longmeadow, MA 01106 (413) 575-1970 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial Hubbell BriarWood 830 W. Lake Lansing Rd. East Lansing, MI 48823 (517) 321-5100 www.cbcworldwide.com

RETAIL

OFFICE

employment are showing signs of economic improvement, including 1. Michigan State University 2. State Government 3. General Motors 4. Hub for national insurance companies.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

MI - Western

MN - Mankato

DEMOGRAPHICS CBSA

Square Miles

Grand RapidsWyoming, MI

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Cabela’s moved into the area.

CBSA

• Demand for Healthcare, Professional

Care and Manufacturing contribute to vacancy rates.

2,828

Square Miles

Mankato-North Mankato, MN

• Forbes recently ranked Greater

1,205

• Greater Mankato is now designated

• New construction includes Gordon Population

Food Service HQ, Cabela’s and MSU Medical.

779,129

Population

93,650

Households

39,391

Household Income Median

$51,381

• For residential, there is less than 6 Households Household Income Median Employees (Total)

• Both demand and lack of inventory

are changes in this market.

$55,111

• University Growth, Healthcare and 358,125

Mankato as 11th of “Best Small Places for Business and Careers.” as a Level 1 Trade Center, further establishing the area as a key Retail and service hub for southern MN and Northern IA.

• Several new neighborhood strip

month supply.

293,209

MARKET HIGHLIGHTS

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

Employees (Total)

49,122

centers are in development as a result of renewed interest from national Retailers.

• Area Medical facilities continue to

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

• Development land sales continue to

be sluggish.

Unemployment

7.30%

5.10%

• Mankato is located just over an hour

south of the Twin Cities Metro Area.

CONTACT

Coldwell Banker Commercial Schmidt, Realtors 2168 WEALTHY ST SE East Grand Rapids, MI 49504 (616) 459-0400 www.cbgreatlakescommercial.com

OFFICE

Coldwell Banker Commercial Fisher Group 1400 Madison Ave. Suite 616 Mankato, MN 56001 (507) 625-4715 www.cbcfishergroup.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

MN - Minneapolis/St. Paul Metro Area

MN - St. Cloud/Central

DEMOGRAPHICS

CBSA

Square Miles

Population

MinneapolisSt. PaulBloomington, MN-WI

MARKET HIGHLIGHTS • Piper Jaffrey & Co. renews 112,823 SF

CBSA

lease for 11 years.

• Expanding retailers commit to prime

space in strongest markets as a result of the gap being narrowed between their expectations and those of landlords.

6,063

3,286,547

Square Miles

Household Income Median Employees (Total)

1,267,913

$71,301

1,695,892

Population

• Five new Multi-Family buildings are

189,957

Households

73,818

million SF addition for additional Retail space, a medical tower for Mayo Clinic and a Hotel Tower.

Household Income Median

$54,959

• Well located Industrial properties

Employees (Total)

91,676

Unemployment

5.60%

• Mall of America announces 200

with high ceilings show lease terms favoring landlords. 4,200 jobs between March 2011 and March 2012 statewide.

5.80%

Walmart Super Center.

• Unemployment rate remains at 5.6%.

1,753

• Xcel commits to 212,000 SF Opus

• The manufacturing sector added Unemployment

• Construction nearing completion for

currently under construction.

built Office building in downtown Minneapolis.

Households

St. Cloud, MN

MARKET HIGHLIGHTS

CONTACT

• Multi-Family continues to be

strongest sector for highest transaction volume in area. Distressed and bank owned properties account for the majority of transactions.

• Central MN market consists of

200,000 +/- MSA. Major employment sectors include Manufacturing, Agricultural, Education and Medical.

CONTACT

Coldwell Banker Commercial Griffin Companies 1221 Nicollet Ave. S Minneapolis, MN 55403 (612) 904-7833 www.cbcgriffin.com

OFFICE

Coldwell Banker Commercial Orion Real Estate 630 First St. South Waite Park, MN 56387 (320) 251-1177 www.cbcorion.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

MO - St. Joseph

DEMOGRAPHICS CBSA

Square Miles

St. Joseph, MO-KS

1,661

Population

127,090

Households

51,821

Household Income Median

$44,333

MS - Gulfport/Biloxi

MARKET HIGHLIGHTS

DEMOGRAPHICS

• St Joseph is located just 35 minutes

CBSA

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.

Square Miles

Gulfport-Biloxi, MS

MARKET HIGHLIGHTS • Port of Gulfport expansion begins. • Margaritaville casino (a 68,000 SF

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

1,503

• Subdivision buyers return. Population

240,010

Households

94,854

Household Income Median

$53,669

• New Hotels begin construction.

• This market is located in the heart of

Employees (Total)

Unemployment

the Life Sciences Industry with over 30 of the major companies located here.

• Boehringer Ingelheim Vetmedica is

expanding and building a 100,000 SF Office building.

48,146

• The new Easttown Business Park

is complete and offering excellent Industrial building sites. A 60,000 SF shell building is planned to be built in 2012.

6.70%

Employees (Total)

86,844

Unemployment

8.90%

• Rosecrans Memorial Airport, which

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

OFFICE

serves civilian and military needs, is located 3 miles west of the city . It boasts two fully ILS-equipped runways and provides capacity for any size aircraft.

CONTACT Coldwell Banker Commercial Alfonso Realty, LLC 625 Courthouse Rd. Gulfport, MS 39507 (228) 287-1200 www.cbcworldwide.com

• St Joseph is served by the Union

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

MT - Billings

NE - Lincoln

DEMOGRAPHICS CBSA

Square Miles

Population

Billings, MT

MARKET HIGHLIGHTS

DEMOGRAPHICS

• New 220,000 SF Scheels Sporting

CBSA

Goods store under construction.

• Vacancy is falling due to the strong

demand created by jobs in Energy, Retail & Medical.

4,683

155,673

Households

63,905

Household Income Median

$53,585

Square Miles

• Over 1,000 Multi-Family units

Lincoln, NE

69,806

• Westfield Mall was purchased in a

group of malls by Starwood.

• Completion of 175,000 SF

headquarters for Assurity Life near downtown Lincoln.

1,414

planned or under construction in 2012/2013.

Population

• Contributing factors to increased

Households

126,751

Household Income Median

$55,280

Employees (Total)

142,514

299,958

• $13.7 million in permits provided for

new Industrial space.

• Whole Foods planned as anchor

home sales include low unemployment and population growth due to the booming energy sector.

tenant with Public Schools building taking 30,000 SF with 11,600 SF adjacent Retail space in the development.

• Lincoln boasts second lowest

• Energy and agricultural industries are Employees (Total)

MARKET HIGHLIGHTS

unemployment in the nation.

driving growth in Eastern Montana.

• Billings is the nearest commercial

hub to the Bakken oil boom.

Unemployment

4.90%

CONTACT

3.70%

CONTACT

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

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

NV - Reno/Sparks

DEMOGRAPHICS CBSA

Square Miles

Reno-Sparks, NV

NJ - Central

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Delucchi Lane, with 206 units, is on

CBSA

the market for $9.8 million.

• Apple will invest $1 billion in Reno

over the decade.

6,606

Square Miles

NY-Northern NJ-Long Island

6,726

• Renown Health purchased a 39,000 Population

SF building in Downtown.

420,676

Population

19,124,092

• Apple is building a 320 acre 164,527

Household Income Median

$61,308

Employees (Total)

208,488

• Hoffman LaRoche’s announcement of

the closing of their Nutley, NJ facility and shedding of 1,000 jobs was a major blow to the area. However, small and medium size bio-tech companies are filling many voids left by larger pharmaceutical companies.

• Vacancy is leveling off, with realistic

pricing beginning to match demand.

datacenter 15 miles east of Reno.

Households

MARKET HIGHLIGHTS

Households

• A 99 Cent Store opened in July 2012.

Household Income Median

• Average Multi-Family price is

$30,000-35,000 per unit.

Employees (Total)

7,086,346

• Most new construction is limited

$65,253

• The Residential market is picking up

7,711,074

to public works and build to suit projects.

with lower interest rates and sellers adjusting pricing to meet market demand.

• Trimmed down small and medium

companies are forging ahead.

Unemployment

11.70%

9.60%

• It is the most affordable suburb of

Manhattan.

CONTACT

Coldwell Banker Commercial Clay and Associates 5011 Meadowood Circle, Suite 201 Reno, NV 89502 (775) 829-5900 www.cbcreno.com

OFFICE

Coldwell Banker Commercial Feist & Feist Realty Corp. 180 Mt. Airy Road, Suite 200 Basking Ridge, NJ 07920 (908) 696-1500 www.feistandfeist.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

NJ - Morris County

DEMOGRAPHICS CBSA

Square Miles

Population

NY-Northern NJ-Long Island

6,726

NJ - Northern

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Northern NJ continues to be a

CBSA

bargain for Class A and B Office space. The vacancy rate is high and the prices are very reasonable.

Square Miles

• The Retail space is hot in NJ. There

19,124,092

are some great locations available and quite a few high end markets for Retail growth.

NY-Northern NJ-Long Island

6,726

Household Income Median Employees (Total)

7,086,346

$65,253

• Drug Maker Hoffman LaRoche will

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

• Realogy is relocating to a 250,000 SF

Office facility in Madison.

Population

19,124,092

• If you are interested in building new Households

MARKET HIGHLIGHTS

commercial buildings the land is very reasonably priced.

Households Household Income Median

• North Jersey is a great melting pot

of businesses, and most national franchises find their way into the market.

Employees (Total)

7,711,074

7,086,346

• There is little new construction with

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

• Vacancy rates in most asset classes $65,253

are remaining stable.

• Residential real estate sales are 7,711,074

increasing but prices are remaining soft.

• New Jersey’s unemployment rate Unemployment

Unemployment

9.60%

CONTACT

is 9.6% as of July 2012, making it a great location for new companies to relocate to. A great number of educated, experienced and talented unemployed people are available.

9.60%

CONTACT

Coldwell Banker Commercial NRT - Morris Plains 1767 Route 10 Morris Plains, NJ 07960 (973) 267-3030 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial NRT - Parsippany 1 Campus Dr. Parsippany, NJ 07728 (888) 829-0221 www.cbcnrtnewjersey.com

RETAIL

OFFICE

RETAIL

Vacancy

N/A

Vacancy

Absorption

N/A

Rental Rates

N/A

Rental Rates

N/A

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Rental Rates

N/A

Rental Rates

N/A

NM - Albuquerque

DEMOGRAPHICS CBSA

Square Miles

Albuquerque, NM

9,288

NY - Albany

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Target is currently building a new

CBSA

155,481 SF store in Winrock Town Center, in NE Albuquerque. Lulu Lemon and J. Crew open new stores in ABQ Uptown.

Square Miles

Albany SchenectadyTroy, NY 2,817

• Multi-Family continues to excel. Population

863,887

Several new Apartment complexes are either under construction or planned for construction.

Households

333,497

• Vacancy rates for Retail have declined

Household Income Median

$49,381

• Two new hospitals open in Rio

Employees (Total)

313,234

Population

from 13% a year ago to 12.1% in Q2 of 2012. Rancho. Senior continuing care facility on tap for Corrales.

859,707

Households

358,803

Household Income Median

$58,611

7.40%

• GlobalFoundries announced a $2.3 b

expansion of the cleanroom at its Fab 8 semiconductor facility, located just north of Albany, NY. When completed, the semiconductor facility will represent a $6.9 b capital Investment and 1,600 new jobs.

• NY’s Center for Economic Growth has

contracted with Prime Regional Center, LLC, a sister company of Coldwell Banker Commercial Prime Properties of Albany, to create and operate an EB-5 Immigrant Investor Program Regional Center that will attract foreign Investment and create jobs in Upstate.

• General Electric Co.’s new $100 m Employees (Total)

• City of Albuquerque continues

351,131

to pursue a grocery store for the “Downtown Area”.

Unemployment

MARKET HIGHLIGHTS

Unemployment

• More Retail space was occupied

7.90%

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

battery factory in Schenectady, NY has announced plans to double the plant’s capacity. That means another $70 m in local spending by the conglomerate — and another 100 jobs, bringing total employment at the facility to 450 people.

• President Barack Obama made his

CONTACT

third trip to the Capital Region. He used the University at Albany’s College of Nanoscale Science and Engineering to tout his economic agenda.

CONTACT

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

OFFICE

Coldwell Banker Commercial Prime Properties 621 Columbia St. • General Electric Co. plans to reorganize Cohoes, NY 12047 its energy business into three (518) 785-9000 standalone businesses in the Q4 of www.coldwellbankeralbany.com

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

NY - Long Island

DEMOGRAPHICS CBSA

Square Miles

NY-Northern NJ-Long Island

6,726

NY - New York City

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Office Market: Q2 2012 vacancy rate

CBSA

rose to 10.1%. Rental Rates down 1.5%. Net absorption down 161,448 SF.

Square Miles

• Industrial Market: Q2 2012 vacancy

Population

19,124,092

Households

7,086,346

rate up slightly to 5.6%. Rental Rates up 2.4%. Net absorption positive at 338,752 SF.

NY-Northern NJ-Long Island

6,726

MARKET HIGHLIGHTS • Q2 vacancy rate ended at 7.1%,

with a positive absorption rate of 1,263,000. Total positive absorption for of 625,000 SF 2012.

• Class A Office market recorded a net

Population

19,124,092

Households

7,086,346

absorption of positive 324,240 SF in the Q2, total positive absorption of 535,933 SF for first half of 2012. Class B Office market recorded a net absorption 457,672 SF in Q2 with total positive absorption of 95,369 SF for first half of 2012. Class C Office market recorded a net absorption of 481,713 SF in Q2, total positive absorption of 644,500 SF in the first half of 2012.

• Retail: Nassau and Suffolk County’s

Household Income Median

vacancy rises to 5.5%.

• Largest 2nd Quarter Office Lease: $65,253

Household Income Median

25,000 SF deal signed by Lewis Johs Avallone & Aviles in Islandia.

$65,253

• Largest Q2 Industrial Lease: 43,000 Employees (Total)

7,711,074

SF lease signed by W.B. Mason in Hauppauge.

Employees (Total)

7,711,074

• Office Rental Rates Mid-Year

2012: Class A, B, C overall: Downtown:$38.42, Midtown:$55.43, Midtown South:$45.31

• Largest Q2 Retail lease: 68,000 SF Unemployment

signed by Fairway in Westbury.

9.60%

Unemployment

CONTACT

9.60%

• Largest Office lease signings 2012:

Viacom Inc. (renewal)-Midtown 1,606,000 SF;Morgan Stanley (renewal)-Downtown 1,152,763 SF; Citibank (renewal)-Midtown 484,040 SF.

CONTACT

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

OFFICE

Coldwell Banker Commercial • Alliance 1140 Avenue of Americas, 7th Floor New York, NY 10036 (212) 344-0300 www.cbcalliance.com

RETAIL

OFFICE

Construction Activity - Office: Downtown: 8,279,280 SF with 3,216,072 SF preleased; Midtown: 1,803,428 SF with 755,324 SF preleased; Midtown South: 400,000 SF with 36,000 SF preleased.

RETAIL

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

NC - Southeastern

DEMOGRAPHICS CBSA

Square Miles

Wilmington, NC

NC - Triad Area

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Whole Foods opens its first store in

CBSA

New Hanover County.

• Several new Apartment complexes

are under construction.

1,924

Square Miles

WinstonSalem, NC

• There has been an increase in misc.

Population

487,010

• There is a shortage of finished Households Household Income Median

Households

• Medical practice mergers continue

to grow.

$50,107

• Triad is seeing little momentum

for sales from clothing to building materials.

residential lots in New Hanover County.

151,270

projects are underway.

manufacturing jobs in Triad.

construction.

357,853

• New Multi-Family development • Biotech has boosted Triad job market.

1,462

• Two new Office buildings are under Population

MARKET HIGHLIGHTS

• Time Warner building sells to Medical

201,455

Household Income Median

$49,845

185,107

• Healthcare industry continues

to grow and expand facilities throughout the Triad.

• Triad home sales are up 2%, the best

Practice for $5 Million.

improvement since 2006.

Employees (Total)

126,764

Employees (Total)

Unemployment

10.00%

Unemployment

CONTACT

9.30%

CONTACT

Coldwell Banker Commercial Sun Coast Partners, LLC 1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403 (910) 350-1200 www.cbcsuncoast.com

OFFICE

Coldwell Banker Commercial Triad, Realtors 1505 Westover Terrace Greensboro, NC 27408 (336) 761-5934 www.cbctriad.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

N/A

Rental Rates

NC - Triangle

ND - Fargo/Moorhead

DEMOGRAPHICS CBSA

Square Miles

Population

Raleigh-Cary, NC

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Total Triangle vacancy decreased in

CBSA

Q2 2012 to 14.9%.

• Most of the vacancy decreases

occurred in Class A Office and Flex space.

2,116

1,143,659

Households

452,721

Household Income Median

$63,406

Employees (Total)

441,442

Square Miles

• Strongest performing submarkets

Population

are Downtown Raleigh and Cameron Village.

Fargo, ND-MN

2,810

• North Dakota has become the

United States number 2 state in oil production, bolstering the economy in Fargo and throughout the state.

• Costco broke ground on a new store

202,280

spurring development along I-94, southwest Fargo and West Fargo.

• Apartment vacancy level is just below

5%. In the Fargo/Moorhead market, approximately 1,000 units will be built in 2012.

• Highest vacancy submarkets are N

Households

• 1.9 million SF of sublease space is

Household Income Median

$53,008

Employees (Total)

105,993

Durham and RTP.

active in Triangle.

86,119

• Many properties are trading as

Unemployment

MARKET HIGHLIGHTS

Raleigh/Durham remains high on investors’ radar.

Unemployment

8.00%

CONTACT

• Healthy agriculture remains a major

contributing factor to the Red River Valley’s healthy economy.

• The unemployment rate in Fargo/

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

3.60%

CONTACT

Coldwell Banker Commercial TradeMark Properties 1001 Wade Ave., Suite 300 Raleigh, NC 27605 (919) 782-5552 www.cbctmp.com

OFFICE

Coldwell Banker Commercial First Realty 2731 12th Ave. S Fargo, ND 58103 (701) 237-3369 www.cbcfirstrealty.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

OH - Lorain County

DEMOGRAPHICS CBSA

ClevelandElyria-Mentor, OH

OK - Oklahoma City

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Metals Fabricating Business moved

CBSA

into Lorain County.

• Local economy jobs & manufacturing Square Miles

Population

moved out due to downsizing, politics and overseas.

2,004

2,090,148

Square Miles

• New construction is slowly picking up

Population

in Lorain County.

Oklahoma City, OK

• The energy sector is one of the

5,518

• Continental Resources moved their

1,237,539

• Residential market in Lorain County is Households

838,741

sluggishly improving.

Households

• Home values declined to Household Income Median

$54,591

Employees (Total)

954,471

Unemployment

accommodate lower income infrastructure Jobs (i.e. Retail -vsManufacturing).

• Lorain county is positioned very

excellently on shores of Lake Erie with great potential for recreation & import / export industry.

CONTACT

500,869

driving factors behind the unusual absorption. headquarters from Enid, OK into the CBD of Oklahoma City. They took over the home office tower of Devon Energy that contained 19 floors with 300,000 SF. Devon Energy completed their 50 story tower for their home office.

• The energy service businesses have

Household Income Median

$57,129

Employees (Total)

502,994

Unemployment

7.50%

MARKET HIGHLIGHTS

taken nearly all of the 6,000 -12,000 ft buildings with any yard space. There is very little new product being brought into the market place.

• The Outlet Mall containing 370,000

SF that recently opened in Aug. 2011 on the west side of OKC was the largest retail development completed in the U.S. The initial sales volume surprised the developers so they are already planning expansion.

5.00%

CONTACT

Coldwell Banker Commercial Hunter Realty 24600 Detroit Rd., Suite 245 Westlake, OH 44145 (440) 892-7040 www.cbchunter.com

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

OR - Portland

DEMOGRAPHICS CBSA

Square Miles

Population

OR - Salem

MARKET HIGHLIGHTS

DEMOGRAPHICS

Portland VancouverBeaverton, OR-WA

• Commercial vacancy in Office and

6,684

• The largest Retail signings include

2,261,246

CBSA

Retail increased slightly to 5.4% and 10.8%, respectively. Industrial vacancy decreased to 7.2%.

Square Miles

a 25,436 SF Barnes & Noble and a 28,490 SF Punch Bowl Social, a new restaurant/entertainment concept.

Population

Salem, OR

1,925

Household Income Median Employees (Total)

878,239

$58,563

952,611

399,131

averaged 7.7% for the first half of 2012 with sales activity down over the same period in 2011 and $152 average price per SF.

• Clear Channel and Daimler Truck

America signed two of the largest Office leases in the Portland market this year.

Households

148,354

Household Income Median

$49,102

Employees (Total)

119,269

Unemployment

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

OFFICE

bank control, The Meridian was purchased by Killian Pacific with exciting plans for the future, including long-term ownership and substantial Investment upgrades.

• Petco recently opened next to Trader

Joes and Planet Fitness signed a lease in North Salem. Buffalo Wild Wings also opened its first Valley eatery. will be relocating to Fairview Industrial Park in South Salem.

9.10%

• PacTrust is pushing dirt on its first

• Multi-Family vacancy fell slightly to

CONTACT

units are being added with the majority of activity in West Salem.

• The Department of Fish & Wildlife

lease for over 300,000 SF at the Nike Distribution Center, and Industrial sales are averaging $59/SF on 28 transactions in 2012.

8.00%

around I-5 and major arterials with activity focused on existing and repurposed properties.

• Formerly the largest project under

• Pacific Foods signed an Industrial Unemployment

• Commercial activity is centered

• Approximately 300 - 400 Multi-Family

• In the Office sector, cap rates Households

MARKET HIGHLIGHTS

medical building along Kuebler Blvd. at Battlecreek.

CONTACT

2.6% keeping it below 3% for more than a year while rental rates are rising at a moderate pace.

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

PA - Pittsburgh

DEMOGRAPHICS CBSA

Pittsburgh, PA

PA - Southeastern

MARKET HIGHLIGHTS

DEMOGRAPHICS

• CBD development is on the rise. CBSA

• Office occupancy rate is higher than Square Miles

national average.

5,280

Square Miles

Employees (Total)

• Multiple new construction sites in the

works. Commercial and Retail sectors are struggling to lure tenants.

$52,255

Household Income Median

2,318,224

$65,847

1,064,896 Employees (Total)

Unemployment

5,979,545

991,049 Households

Household Income Median

and tertiary areas are near all time high levels. areas to higher density business centers; employees want convenient access to Retail and food services.

4,630

2,355,582 Population

Households

• Office vacancy rates for secondary

• Office vacancy is on rise in remote

• There is an increase in sales of

investment property.

Population

PhiladelphiaCamdenWilmington, PA-NJ-DE-MD

MARKET HIGHLIGHTS

2,533,973

7.30% Unemployment

CONTACT

• Sellers are coming to realization that

the commercial property market will recover very slowly and that rental rates will take many years to return to 2005 levels.

• Bucks County is still a haven

for company relocation out of Philadelphia and New Jersey seeking tax relief.

7.50%

CONTACT

Coldwell Banker Commercial NRT - Pittsburgh 9600 Perry Highway, Suite 200 Pittsburgh, PA 15237 (412) 548-1064 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial CBH 1094 Second St. Pike Richboro, PA 18954 (215) 357-2880 www.cbchearthside.com

RETAIL

OFFICE

RETAIL

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

Rental Rates

PA - York/Lancaster/Harrisburg

SC - Charleston

DEMOGRAPHICS

CBSA

Square Miles

York-Hanover, PA

MARKET HIGHLIGHTS • Kingston Shopping Center sold for

CBSA

$7.6 million at an 8% cap rate.

CharlestonNorth Charleston, SC

is planned in York Township.

Square Miles

2,591

430,707

Pleasant.

especially Retail, coming out of the ground in central PA.

169,750

Population

665,272

• Vacancy is falling due to greater

demand for Charleston MSA.

sales were up 5% compared to 2011.

Households

262,007

Household Income Median

$57,059

Employees (Total)

253,170

• Multi-Family market has increased by

• IRS & Social Security began

Household Income Median

$55,365

construction on a new office on Industrial Highway in York. 70 new jobs will be created.

Employees (Total)

168,402

• Central PA is very tourist oriented:

Unemployment

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

• 40,000 SF Hobby Lobby moves to Mt.

• For the first 5 months, residential Households

• Cable manufacturer Nexans invests

• A 99-room Hampton Inn and Suites

904

• There are signs of new projects, Population

MARKET HIGHLIGHTS

8.10%

20 minutes to the Gettysburg battle fields, 30 minutes to the Amish farms of Lancaster and 30 minutes to Hershey Park and other attractions.

Unemployment

CONTACT

1,000 units.

8.50%

CONTACT

Coldwell Banker Commercial Bennett Williams 110 N. George St. 4th Floor York, PA 17401 (717) 843-5555 www.bennettwilliams.com

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

SC - Columbia

DEMOGRAPHICS CBSA

Square Miles

Columbia, SC

3,701

SC - Greenville/Spartanburg

MARKET HIGHLIGHTS

DEMOGRAPHICS

• The largest signing in 2012 across

CBSA

all asset classes is 186,000 SF Office lease for SC Department of Revenue at 300 Outlet Pointe Blvd.

Square Miles

• New Construction deliveries in 2012:

Population

751,082

Households

300,796

Household Income Median

$52,689

Employees (Total)

287,817

Office - 1 building 4,000 SF; Industrial - 0 (1 building under construction); Retail - 1 building 2,937 SF.

GreenvilleMauldin Easley, SC 2,002

15% reduction in inventory YTD as compared with the same period last year.

• The Main St. corridor is heating up

with several new merchants. Also, the University of SC is attempting to put student housing in an existing 450,000 SF Office building on Main St.

• There are 12 Colleges or Universities

9.10%

Population

644,419

Households

263,044

Household Income Median

$49,487

Employees (Total)

288,021

Unemployment

in Columbia, including the University of South Carolina, and Educational Services account for 12% of Columbia’s employment.

present in the Upstate SC market. 250 companies from 27 countries are represented including: Adidas, BASF, BMW, Electrolux, Freightliner, Fujifilm, Robert Bosch and Siemens. and created an additional 300 new jobs. Total employment at the 4m SF plant is 7,500. Since BMW came to South Carolina, the plant has produced 2m vehicles; 70% for export.

• Greenville based Michelin announced a

8.60%

$750m investment in multiple facilities within the state including Upstate Anderson County.

• GE Aviation has expanded their R&D

facility in Greenville resulting in additional hires. The plant designs and manufactures blades used in their jet engines.

• Additional recent announcements

CONTACT

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

OFFICE

• The global economy is increasingly

• BMW made another $900m investment

• The residential market has seen a

Unemployment

MARKET HIGHLIGHTS

Coldwell Banker Commercial Caine 117 Williams St. Greenville, SC 29601 (864) 250-2800 www.cbccaine.com

RETAIL

OFFICE

include those by SEW-Euro Dr. in Spartanburg, a manufacturer of Industrial gear motors and electronics; AVX, a global manufacturer of electrical and interconnect components; Belgian company Picanol with a machine repair and replacement parts facility.

• Downtown Greenville continues to

attract Office users, residents to newly constructed Apartment and Condo projects and the accompanying dining and entertainment facilities.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

SC - Myrtle Beach

DEMOGRAPHICS CBSA

Square Miles

Myrtle BeachConway-North Myrtle Beach, SC

SD - Rapid City

MARKET HIGHLIGHTS

DEMOGRAPHICS

• New to the area are Target, Marshalls

CBSA

and three Petco’s.

• Vacancy is finally falling. Landlords

are seeing reduced rent and trying what ever it takes to make deals.

1,134

Square Miles

• New Retail in the area include: Population

Households Household Income Median

266,384

110,858

$43,184

Employees (Total)

112,291

Unemployment

10.10%

Population

Walgreens, three Petcos, nine Dollar Generals, Dollar Tree and two McDonalds.

Rapid City, SD

MARKET HIGHLIGHTS • Walmart adds second store to

market. Sam’s Club expands. Target adds Super Store.

6,247

• Healthcare and Retail Industry drives

125,797

• New construction is up 10% YOY.

marketplace with over 300,000 served.

• Residential sales are up 10% YOY. Households

• For the residential market, lower

prices and better sales are working through bank inventory.

Household Income Median

• Foreclosures are a great deal and get

50,124

$52,281

Employees (Total)

51,878

Unemployment

4.20%

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

CONTACT

values have been stable throughout the downturn.

• Rapid City is the gateway to the

sold at a brisk pace.

• Over the summer season,

• Healthcare and Retail real estate

Black Hills located in Western South Dakota. Abundant recreation for the outdoor enthusiast with amenities such as: snow skiing, snowmobiling, boating, hiking, hunting, fishing and much more.

CONTACT

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

OFFICE

Coldwell Banker Commercial Lewis Kirkeby Hall 2710 West Main St. Rapid City, SD 57702 (605) 343-2700 www.cbcworldwide.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

TN - Chattanooga Metro Area

TN - Knoxville/East

DEMOGRAPHICS

CBSA

Square Miles

Population

Households

Chattanooga, TN-GA

• Amazon opened two distribution

2,089

• Volkswagen opened a new assembly

526,490

• Whirlpool has opened a new 1.4

CBSA

centers in 2011, creating over 2,000 jobs.

Square Miles

plant which produces the Passat. The plant will employ 3,500 by year’s end.

211,265

Household Income Median

$47,279

Employees (Total)

208,265

Unemployment

MARKET HIGHLIGHTS

Population

million SF green production facility. They are phasing in production lines and will be at full capacity by end of year. Whirlpool employs 1,600 workers.

Households

• Wacker Chemie purchased 350

acres for a $5.4 billion new plant to manufacture hyperpure polycrystalline silicon. This facility is scheduled to open in 2014 and will employ 650 workers.

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

OFFICE

702,994

297,456

City for Jobs,” Forbes, 2012; “8th Fastest Growing City in the U.S.,” CNN Money, 2012; “Best City for Jobs for Spring, Manpower, 2012”; #4 High Tech Hub, Business Facilities, 2011; #1 for Green Job Growth, Brookings Institute, 2011. falling or unchanged because of the improving economy.

• A $150,000,000 Proton Therapy

Household Income Median

$48,362

Employees (Total)

307,125

Unemployment

tremendous growth in the next 5 years. In addition to the new manufacturing facilities, many supporting suppliers are looking to relocate to the area.

CONTACT

1,857

• Knoxville’s recent rankings: “6th Best

• In most sectors, the vacancy rate is

• This market is positioned for

8.20%

Knoxville, TN

MARKET HIGHLIGHTS

7.00%

Center is being constructed in the Dowell Springs Office Park in West Knox County.

• Academy Sports and Outdoor

building was sold for $9,500,000. The 12 story Kimberly-Clark building in downtown Knoxville was sold for $3,550,000.

• Knoxville continues to be a haven

for restaurants with the third Cheddar’s being built and the TexMex restaurant Chuy’s, both under construction in West Knoxville.

CONTACT

• Commercial activity is still somewhat

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

flat.

RETAIL

OFFICE

• The first five months of this year saw

a significant increase in the single family residential market; it was up 27% from January through May of this year compared to the same time period in 2011.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

TX - Abilene

TX - Austin

DEMOGRAPHICS CBSA

Square Miles

Abilene, TX

MARKET HIGHLIGHTS

DEMOGRAPHICS

• A new sports rehab center has been

CBSA

built in the area.

• Most new construction is built to suit.

2,745

Square Miles

• Residential market is very active.

Austin-Round Rock, TX

4,224

Average sale price is increasing.

Population

160,753

Household Income Median

64,687

• This area is active in the oil and wind

Population

• Abilene is the host of the 2nd largest

Households

wind farm in the world.

$43,771

1,730,983

Forbes’ list of “The Best Cities for Jobs” due to its strong growth in manufacturing, technology-related employment and business services.

622,577

Employees (Total)

Unemployment

6.30%

Unemployment

6.40%

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

RETAIL

downtown Multi-Family community, to be called Eleven. The Eleven Apartments, along with several new Mixed-Use Retail and Office buildings, restoration projects, and city Investment will contribute to the area turning the corner into a growing district.

• The groundbreaking of a Multi-Family

CONTACT

Coldwell Banker Commercial Panian & Mash Realtors 2500 S. Willis Abilene, TX 79605 (325) 690-4055 www.cbcworldwide.com

in America: precisely 14.97% of the homes in the Austin area have been built since 2005, according to an On Numbers analysis of U.S. Census Bureau data.

• Development is soon to begin on a $57,641

60,543

CONTACT

665,762

Household Income Median

Employees (Total)

OFFICE

• Austin ranked first place in

• Austin has the newest housing stock

industries.

Households

MARKET HIGHLIGHTS

OFFICE

housing project near the University of Texas, a $26 million commercial high-rise student housing project, marks the largest privately funded Asian commercial real estate project to date in Austin.

• IKEA completed the expansion of

its Central Texas store in Round Rock in June 2012. The store grew nearly 54,000 SF to the new size of approximately 306,000 SF.

RETAIL

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

TX - Bryan/College Station

TX - Dallas/Fort Worth

DEMOGRAPHICS

CBSA

Square Miles

Population

MARKET HIGHLIGHTS

College Station-Bryan, TX

• There is an influx of over 3,500 Class

2,106

• The former Plaza Hotel has been

214,971

CBSA

A beds coming on line within the 2013 year.

Square Miles

imploded, and site preparations are underway for the new Student Housing and Retail project.

Dallas-Fort Worth-Arlington, TX 8,990

Population

6,521,652

Households

2,375,452

• Retail is stable along the Households Household Income Median

88,655

Greensprairie corridor with the addition of a Taco Bell, two Banks, and The Pool Guy Supply store.

Household Income Median

$39,968

Employees (Total)

60,491

Employees (Total)

Unemployment

6.80%

Unemployment

$63,092

2,621,455

MARKET HIGHLIGHTS • Dallas/Fort Worth’s “DFW” regional

population increased 52% between 2000 and 2010 to a total of 6.5m, making it the 4th largest region in the U.S. Population is expected to reach 9.8m by 2035.

• Employment growth has tracked

population and currently stands at 3.9m employees. Employment is expected to reach 6.1m by 2035.

• DFW by the numbers: headquarters

to 24 Fortune 500 Companies; 158 Companies ranked in The Inc 5000’s Fastest Growing; 6th largest Economy in the US and 14th in the World. Forbes Magazine ranks it as #5 “Where a Paycheck Stretches the Furthest”.

• Dallas has the advantage of a Central

Time Zone and mild climate.

7.40%

• Texas does not have a State Income

Tax and is a right-to-work state.

CONTACT

• Dallas is located at the intersection

CONTACT

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

OFFICE

Coldwell Banker Commercial S.A. 3010 LBJ Freeway Dallas, TX 75234 (972) 503-8600 www.coldwellbanker-sa.com

RETAIL

OFFICE

of five major interstate highways, is a rail hub for Burlington Northern/ Santa Fe and Union Pacific, and is an air hub for American and Southwest airlines with over 56m passengers through DFW airport.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

TX - Houston

TX - Lubbock

DEMOGRAPHICS CBSA

Square Miles

Population

Households Household Income Median Employees (Total)

Houston-Sugar Land-Baytown, TX 8,928

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Houston ranked second place in

CBSA

Forbes’ list of “The Best Cities for Jobs”, and 20th on their list of “The Best Places for Business and Careers.”

Square Miles

• Houston ranked third on Yahoo

5,937,339

2,084,052

$65,395

2,246,860

Real Estate’s list of popular moving destinations this year due to available job opportunities, a reasonable cost of living, and plenty to do for singles, couples and families.

Population

Households

• Residential sales prices broke records

in May, according to the Houston Association of Realtors: the average price for single-family homes rose 8.5% to $237,083, the highest level ever in Houston, while the sales volume reached the highest level in four years.

7.50%

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

OFFICE

• Lubbock Unemployment Rate at 5.7%

as of August 1, 2012.

• Lubbock ranks on Forbes list of “Best

Cities For Jobs.” Lubbock is ranked 9th out of the 242 metropolitan areas ranked.

1,799

279,239

111,087

• Lubbock County named in Top 10

Mid-Sized Counties In Nation – based on 2012 Fourth Economy Index Listing.

• Lubbock Economic Index continues

Household Income Median

$41,203

Employees (Total)

101,281

upward trend – up 3.5% in the first half of the year and 2.6% in Q2.

• Lubbock housing market is strong –

June 2012 sales are up 12% over June 2011.

• Squeezing The Shale: Hydraulic

• A major East End property along Unemployment

Lubbock, TX

MARKET HIGHLIGHTS

Buffalo Bayou, consisting of 136 acres, was recently introduced onto the market, offering the possibility of significant near-downtown redevelopment. The new Dynamo Stadium and planned light-rail line are other substantial projects in the East End area.

Unemployment

Fracturing Releases The Oil - Four Sevens Exploration Company LTD, leased mineral rights from the City of Lubbock for 6,261.94 acres in the area for $2.19 million.

6.50%

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

• Phase 1 of Generation Park, a 3,635

acre master-planned commercial development, has begun in northeast Houston. The development will straddle the Sam Houston Tollway and is the first ESE Energy Development in the world.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

TX - Rio Grande Valley

TX - San Antonio

DEMOGRAPHICS

CBSA

Square Miles

Rio Grande City-Roma, TX

MARKET HIGHLIGHTS • Molina Healthcare of Texas comes to

CBSA

Edinburg, TX.

• New Sam’s Club and Costco open at

same time.

1,223

Square Miles

MARKET HIGHLIGHTS

San Antonio, TX

• This area is seeing considerable

7,340

• There is net absorption across all

2,093,608

• There is limited construction in the

activity from Financial Service Centers.

product lines due to limited new construction.

• Office occupancy rising significantly. Population

63,261

Population

• Land prices are rising significantly.

area and most is primarily Owner/ User.

• Low inventory of climate controlled Households Household Income Median

16,766

Warehouse space.

Households

• New brand names are coming to the $23,550

area rapidly.

749,986

Household Income Median

$52,389

Employees (Total)

730,244

• The residential market has substantial

improvements, 13+ percent year over year in existing and new home sales due to well managed new inventory.

• Changes in the market include: job Employees (Total)

Unemployment

8,935

Unemployment

12.00%

7.30%

creation, lower unemployment, domestic immigration, as well as legal international immigration, primarily from Mexico.

• Federal spending has been reduced

substantially, and replaced with private-sector activity, but credit remains tight.

CONTACT

Coldwell Banker Commercial La Mansion 508 E. Dove McAllen, TX 78504 (956) 631-1322 www.cbclamansion.com

OFFICE

Coldwell Banker Commercial Alamo City 18756 Stone Oak Pwky., Suite 202 San Antonio, TX 78258 (210) 483-6250 www.cbcAlamo.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

TX - Waco, McLennan County

UT - Salt Lake County

DEMOGRAPHICS

CBSA

Square Miles

Waco, TX

1,042

MARKET HIGHLIGHTS • Baylor University approved the

CBSA

construction of a new football stadium to be located on I-35 and the Brazos River.

Square Miles

• Baylor University, the City of Waco,

Salt Lake City, UT

9,539

Population

234,783

and Texas State Technical College have partnered to build the “BRIC” - Baylor Research and Innovation Collaboration.

Households

91,531

• Space X is expanding their operation

Households

376,706

Household Income Median

$44,485

• Carter Blood Care is breaking ground

Household Income Median

$66,176

Employees (Total)

567,447

Employees (Total)

94,029

Unemployment

7.40%

MARKET HIGHLIGHTS • Major Office, Retail, and Industrial

tenants are moving into the market such as Adobe, McCann-Erickson, Sun Products, Trader Joes, Scheel’s Sporting Goods, and Longhorn Steakhouse.

• Class A Office vacancy rates edged

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

• Renovations to the Waco Convention

Center were recently completed.

Population

Unemployment

1,140,107

6.00%

down. Retail vacancy rates have stabilized as tenants move to more quality space. Industrial vacancy edged upwards 1-2%. As absorption edges up, vacancy rates will continue to slowly move down to healthier levels.

• Big box Industrial construction

delivered close to 900,000 speculative construction. In Office, speculative construction has returned after a few years. Owner user construction has been fueled by a couple of major transactions. Construction in Retail is fueled by large freestanding tenants.

• Residential development land sales are

up as activity heats up.

CONTACT

• Local economic reports brightened in

CONTACT

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

OFFICE

January 2012, an improvement from the past couple of downturn years fueling an optimistic outlook for the remainder of the year.

Coldwell Banker Commercial NRT - Salt Lake City 6550 South Millrock Dr., Suite 200 Salt Lake City, UT 84121 • Liquor laws are becoming more (801) 947-8300 business friendly attracting larger sit www.coldwellutah.com

down restaurants. Employment is projected to grow 2.5% which more than double the national average.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

VA - Lynchburg

DEMOGRAPHICS CBSA

Square Miles

Population

Lynchburg, VA

2,124

WA - King County

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Lynchburg continues to hold on to

CBSA

their larger tenants due mostly in part to the steady economy in this area.

Household Income Median Employees (Total)

100,680

$46,100

96,796

don’t seem to be rising or falling at this time.

Population

3,433,786

place throughout the Lynchburg area, with more emphasis on expanding or altering existing buildings.

Households

1,373,207

Household Income Median

continual growth in the low to mid price ranges. Higher end houses are slowly starting to move at discounted prices.

Employees (Total)

their toes back into the water. Some speculative land purchases have taken place in the first two Quarters of 2012.

$67,763

1,502,591

to look for good deals on fully developed plats. Most of the fully developed plats have already been purchased, and developers are starting to consider buying raw land.

• Overall Puget Sound employment

a slight downward motion but many businesses are hesitant with the approaching election.

7.10%

• Retail developers are starting to dip

• Residential developers continue

• The Residential market is seeing

• The unemployment rate is showing Unemployment

trading at extremely low CAP rates. strong. Rental rates continue to rise along with sale prices.

5,894

• Small construction projects are taking Households

• Institutional Investment sales are

• The Multi-Family sector is still very Square Miles

• Vacancy rates have leveled out and

248,585

Seattle Tacoma Bellevue, WA

MARKET HIGHLIGHTS

outlook is very positive.

Unemployment

7.80%

• This area continues to be an

CONTACT Coldwell Banker Commercial Read & Co. 2508 Langhorne Rd. Lynchburg, VA 24501 (434) 455-2285 www.cbcread.com

OFFICE

attractive market to outside developers/investors mostly due in part to the various incentives the city offers to revamp the downtown market.

CONTACT Coldwell Banker Commercial Danforth 33313 First Way South Federal Way, WA 98003 (253) 874-3200 www.cbcdanforth.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

WA - South Puget Sound

WA - Tacoma

DEMOGRAPHICS

MARKET HIGHLIGHTS • In Retail, WinCo Foods and Trader

CBSA

Square Miles

Olympia, WA

727

Population

253,654

Households

100,414

Household Income Median Employees (Total)

Unemployment

Joe’s have experienced great success moving into the market. REI launch proved very successful, as well. The Office sector is still undergoing a correction as the State of Washington consolidates operations.

CBSA

Square Miles

• Multi-Family stats are up 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.

5,894

Population

3,433,786

Households

1,373,207

Household Income Median

as contraction in the construction markets continues.

$67,763

• Some notable properties have been 68,733

7.70%

foreclosed by creditors and are being marketed now. The Gateway project in Lacey, anchored by retailer Cabela’s, is a 200+ acre Mixed-Use development that is receiving strong interest from developers. Prices on land, however, continue to soften.

Employees (Total)

1,502,591

Coldwell Banker Commercial Evergreen Olympic Realty, Inc. 3333 Capitol Blvd. S. Olympia, WA 98501 (360) 352-7651 www.cbcworldwide.com

OFFICE

somewhat stagnant with only 1 new Office building delivered in the last year in Tacoma and 4 others in suburban Pierce County, primarily medical. Net absorption is negative through the first half of 2012, but expected to finish around zero by year end, with vacancies. construction delivered only 50 units in Tacoma in 2011 with almost 600 expected by the end of 2012. Vacancies are still tight at 4.6%, down from 5% by EOY 201 so rent growth is accelerating. New projects in the pipeline will likely curb rent growth into 2013.

• Industrial absorption is still largely Unemployment

dominated by aerospace, with the recent activity and forecast for Boeing subcontractors. However, there has been activity with smaller users between 5000-50,000 SF doing deals in small bay/incubator space.

7.80%

• The Residential markets are beginning

CONTACT

• Office activity has been up but

• Apartment activity for new

• Industrial vacancies continue to climb $62,921

SeattleTacomaBellevue, WA

MARKET HIGHLIGHTS

to pick up. After reaching a bottom in pace of sales last winter, sales picked up steam as the year went on. Around the Sound, 2011 sales were up more than 7% over 2010.

CONTACT

• Retail – Pierce County absorption in

Coldwell Banker Commercial Offenbecher 929 East Main Suite 320 Puyallup, WA 98371 (253) 840-5574 www.offenbecher.com

• Owner-occupied commercial spaces

continue to enjoy favor with lenders in the market.

RETAIL

OFFICE

Retail has been negative for several years, leaving landlords with stiff competition and tenants salivating for great opportunities with big incentives for quality tenants willing to do long term deals. Point Ruston, a 250,000 SF Mixed-Use lifestyle center, is bringing tenants to the area.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

WA - Vancouver & Southwest

WI - Janesville/Beloit

DEMOGRAPHICS

CBSA

Square Miles

Population

MARKET HIGHLIGHTS

PortlandVancouverBeaverton, OR-WA

• The largest major tenant moving

6,684

• The commercial market is gradually

2,261,246

CBSA

into Vancouver is the Farwest Steel Corporation that will occupy a 350,000 SF custom built facility.

Square Miles

improving in all sectors. Absorption is up, in part due to very little new construction being added to the existing.

Population

Household Income Median Employees (Total)

878,239

$58,563

952,611

building is a 350,000 SF manufacturing facility. The cost of construction was $50,000,000.

• Residential development is cautiously

increasing. Developers are having their best sales success with moderately priced homes in the $150,000 range.

in the Portland, Oregon metropolitan area. The cost of living is less in Vancouver, and to a certain degree, is considered a bedroom community for Portland’s larger employment base.

8.00%

CONTACT Coldwell Banker Commercial Jenkins & Associates 1500 D St. Vancouver, WA 98663 (360) 699-4494 www.cbcworldwidenw.com

OFFICE

160,224

of neighboring Walworth County took possession of 250,000 SF of a 700,000 SF former GM logistics building in Janesville. This occupancy is on the heels of John Deere’s logistics company, Landair, which took 237,500 SF in Q1.

Households

63,135

Household Income Median

$54,346

area of WI & IL are experiencing an Industrial vacancy rate of about 12%, which rivals the greater Chicago area. Proximity to markets, easy access to I 39/90 & available logistics buildings have been a plus.

• The city of Janesville broke ground

• Vancouver is one of the four counties Unemployment

720

• Miniature Precision Components Inc

• Janesville/Beloit and the Stateline

• The Farwest Steel Corporation Households

Janesville, WI

MARKET HIGHLIGHTS

Employees (Total)

63,044

Unemployment

9.40%

on a $1.2 m innovation center which will provide a 22,000 SF flex space for startups. Kerry Americas added 30,000 SF to its 260,000 SF campus and North American corporate headquarters.

• Residential transactions are up 8%

for the first two Quarters of 2012 & average values up 3%.

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

• Washington does not have a state

income tax while it does have sales tax. Oregon is the opposite - there’s a graduated state income tax but no sales tax. As a result, Portland has the major Retail presence and a much higher concentration of Office space.

RETAIL

OFFICE

• Retail is beginning to reawaken.

Former high profile locations that were experiencing vacancies are starting to fill up, and interest by nationals is increasing with several letters of intent pending contracts for purchase and lease.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

WY - Cheyenne Metro

2012Blue Book DEMOGRAPHICS CBSA

Square Miles

Cheyenne, WY

2,686

MARKET HIGHLIGHTS • NCAR (National Center for

Atmospheric Research) super computer center will be operational this year. This will create high paying jobs and a new research platform.

International Markets

• Microsoft data center is to begin

construction soon. New construction jobs and new positions will open up down stream.

Population

89,439

Households

36,986

• Niobrara oil development is

Household Income Median

$60,634

• Residential real estate market is

continuing but at a slower pace than initially expected. heating up.

Employees (Total)

31,977

Unemployment

6.30%

• Swan Ranch Industrial Development

is continuing. New rail spurs are now available.

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

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

p 63

Bermuda

Canada - Belleville

DEMOGRAPHICS CBSA

Square Miles

Bermuda

MARKET HIGHLIGHTS

DEMOGRAPHICS CBSA

Canada Eastern Ontario

Square Miles

372 m2

• 141 Front Street, a showcase

building in the City of Hamilton was completed in September 2010, has been a huge success with 75% occupancy.

Population

Households Household Income Average

64,237

34,110

• Waterloo House, approx 20,000 SF

$67,183 USD

39,457

Unemployment

6.00%

remains solid.

been absorbed.

• Little new construction in Population

100,000

Commercial/Retail/Multi-Family sectors.

• Multi-Family units are selling at never Households

of premier waterfront property in Hamilton, is on track with completion expected in 2013; 40% is already preleased.

seen before low CAP rates.

30000

• Besides Multi-Family, the market Household Income Average

remains cautious

$52,803 USD

• Residential data for 2011 Employees (Total)

• Eastern Ontario Industrial market • Many power of sale properties have

• Vacancy level in secondary space has

increased due to high level of new space on the market at affordable prices.

MARKET HIGHLIGHTS

(government records) is incomplete, but it is expected that 2011 sales totals will be similar to 2010 with average price of property lower.

• Slowly, more people are looking to

Employees (Total)

48,760

Unemployment

6.30%

• CFB Trenton will have close to 1

billion in infrastructure upgrades over the next 10 years

purchase in this market but with longer transaction time.

• As an island destination, foreigners

CONTACT Coldwell Banker Commercial Bermuda Realty 11 Par la Ville Rd. Hamilton, n/a HM HX (441) 292-1793 www.bermudacommercial.com

OFFICE

CONTACT

often look to purchase in Bermuda. It is expected that government will soon relax purchasing requirements for foreigners.

Coldwell Banker Commercial Ekort Realty, Brokerage 100 Bell Blvd. Suite 200 Belleville, Ontario K8P 4Y7 (613) 969-9901 www.cbcommercial.ca

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Canada - Greater Toronto Area

Canada - Kelowna/West Kelowna

DEMOGRAPHICS

CBSA

Canada Greater Toronto Area

MARKET HIGHLIGHTS • Target leases 180,000 SF of Office in

CBSA

the Toronto Airport Corporate Centre.

Canada Kelowna/West Kelowna

MARKET HIGHLIGHTS • Highly desirable lifestyle region of

Canada strategically located between Vancouver, Calgary and Edmonton/ Fort McMurray.

• Greater Toronto Area (GTA) Office Square Miles

vacancy is 5.1% and Industrial is 3.5%.

2,279

Population

5,583,064

Households

1,800,000

Household Income Average Employees (Total)

Unemployment

$63,500 USD

2,919,410

Square Miles

• Across the GTA, 5.1 million SF of

Office and 4.5 million SF of Industrial are under construction.

• Strong sales growth in the first half

of 2012, sale prices up 7.1% year over year. space , 26+ FT clear heights.

• Locally, Oakville has the highest net

187,234

Households

67,000

Employees (Total)

Office rates in West GTA at $17.76 per SF.

Unemployment

7.20%

• Many smaller wholesale/distributors

Population

Household Income Median

• There is strong demand for logistics

1,142

$60,524 CND

have vacated the market in favor of servicing this area from their nearest large regional centre. Absorption of these vacant units is proving difficult.

• Key infrastructure includes the UBCO

campus, a new bridge, new hospitals in Vernon and Kelowna, highway upgrades, and airport expansion.

• The Residential market has lost

values over the past 5 years and there is an unbalanced inventory with excess inventory forcing prices downward.

100,278

• New development in the past 5 years

7.20%

includes 8 major businesses plus a Walmart.

• Kelowna is the largest market

CONTACT

between Greater Vancouver and Calgary.

CONTACT

Coldwell Banker Commercial Integrity Real Estate, Brokerage 1384 Cornwall Rd. Oakville, Ontario L6J 2R4 (905) 338-8877 x228 www.cbci.ca

OFFICE

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

RETAIL

OFFICE

RETAIL

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Canada - Nanaimo, BC

Canada - Ottawa, Ontario

DEMOGRAPHICS

CBSA

Square Miles

Canada Nanaimo, BC

MARKET HIGHLIGHTS • Wholesale Sports Outdoor Outfitters

CBSA

came to Nanaimo.

Canada Ottawa, Ontario

• Nanaimo vacancy stays low, business

sales strong.

494

Square Miles

1,801

• City reports many new development Population

permits ready to go.

83,810

Population

• Nanaimo residential sales strong

1,200,000

Household Income Median Employees (Total)

Unemployment

N/A

Households

• Overall investor confidence is high in

420,000

Nanaimo.

$45,937 USD

• Federal Government continues

relocation of departments to suburbs. EDC relocation within downtown frees up 300,000 SF. Canada Council (85,000 SF) is relocating to new 150 Elgin in 2013. Smart Centers and Target invade suburban retail developments. More large U.S. retailers are expected.

• Vacancy rates in Downtown office

again for another year.

Households

MARKET HIGHLIGHTS

Household Income Median

• Nanaimo is an ocean side University

City, with low crime rates and lots of jobs.

N/A

Employees (Total)

4.80%

Unemployment

$93,280 USD

743,100

6.20%

(6.2%) are expected to decline slightly to end 2012 with an increase to 6.5% by end 2014. Suburban vacancy (9.5%) is expected to decline to 8% by end 2014. Many factors contribute such as the lack of government programs and world investment funds.

• New Downtown office towers (840,000

SF) and East Suburban office tower (270,000 SF) are the ‘good news’ items in commercial real estate. Residential condos and large suburban retail centers are rising on regular basis.

• Residential condo developments close

CONTACT

to downtown and affluent suburban neighborhoods are in demand and construction is very active. This new trend will drive the need for new retail developments.

CONTACT

Coldwell Banker Commercial Vancouver Island Realty Ltd 17-4890 Rutherford Rd. Nanaimo, British Columbia V9R-4Z4 (250) 756-9700 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial First Ottawa Realty, Brokerage 1419 Carling Ave., Suite 219 • Recent Federal Government layoffs Ottawa, Ontario K1Z 7L6 have hindered overall growth in the (613) 728-2664 www.ottawacommercialproperties.com local economy, including business

expansion plans.

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

Canada - Waterloo Region

Colombia - Cartagena

DEMOGRAPHICS

CBSA

Square Miles

Canada Waterloo Region 528

Population

543,700

Households

194,890

MARKET HIGHLIGHTS • The City of Kitchener has introduced

CBSA

plans to develop an “innovation district” in the downtown core, part of its overall economic development and growth management strategy. The plan would effectively convert an eight-acre property owned by the city into an urban research and business park.

Square Miles

Colombia Cartagena

372 m2

Employees (Total)

Unemployment

$74,490 CDN

282,300

6.40%

Population

1,230,443

designed to attract creative talent, build on the cluster of high-tech companies moving into the nearby Tannery district and intensify development along the new transit corridor.

Households Household Income Average

• Wilfrid Laurier University has become

a student landlord with a $58.9m purchase of 12 apartment buildings adjacent to its main campus. Eric Reiner of CBC Peter Benninger Realty facilitated the deal.

302,149

$77,760,000 COL

Employees (Total)

364,285

Unemployment

10.40%

is and will be the second most appealing country for investment in Latin America over the next three years.

• In a comparison of 183 countries, the

World Bank (doing business 2011) described Colombia as the fifth country in the world and the first in Latin America in protecting Investors.

• Cartagena-Colombia is a UNESCO

World Heritage Site and is a favorite vacation and retirement destination for many thousands of Europeans and North Americans. best cities to live in Colombia and South America.

(Research in Motion) emphasized that they are committed to Waterloo Region and plan to remain one of the community’s largest employers, currently employing approximately 9,000 in the region.

CONTACT

Coldwell Banker Commercial Peter Benninger Realty, Brokerage 508 Riverbend Dr. Kitchener, Ontario N2K 3S2 • Employment in the region is up (519) 743-5211 www.coldwellbankercommercial.ca with an increase of 14,000 jobs.

• New construction of high rise

Coldwell Banker Commercial Cartagena de Indias Bocagrande, Ave San Martin Calle 7 Local 8 Cartagena, Bolivar n/a 57 (5) 6658800 www.cbcartagenadeindias.com

Manufacturing is also up.

OFFICE

- Standard and Poor’s, Moody’s and Fitch - guarantee that Colombia is a safe place to invest, providing the country with a BBB investment grade.

• Cartagena is considered one of the

• At their recent annual meeting, RIM

CONTACT

• The top three global risk rating firms

• According to JP Morgan, Colombia

• The “innovation district” is a plan

Household Income Median

MARKET HIGHLIGHTS

RETAIL

OFFICE

buildings, major chain hotels and shopping centers are taking over Cartagena de Indias.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

N/A

Absorption

N/A

Absorption

N/A

Rental Rates

N/A

Rental Rates

N/A

Greece

Ireland

DEMOGRAPHICS CBSA

Greece

Square Miles

50,949

Population

MARKET HIGHLIGHTS

DEMOGRAPHICS

• Investors are in anticipation for major

CBSA

Ireland

Square Miles

27,027

privatization projects of Hellenic Republic Assets.

• Vacancy is rising as the general

economic activity is shrinking and enterprises, as well as households, reduce their activities or move to smaller size spaces.

11,354,000

Population

Household Income Average Employees (Total)

€ 20,751

3,813,601

€2billion in unfinished developments.

• ECB cuts interest rate to 0.75%, its

lowest ever level.

Dublin for 3 straight months.

4,400,000

• Residential prices outside Dublin

continue to fall but at a slower rate.

first 4 months of 2012 decreased by 39.2%.

3,664,392

• State Agency NAMA plans to invest

• Residential prices rise marginally in

• Private construction activity in the Households

MARKET HIGHLIGHTS

Households Household Income Median

• Residential transactions are on a

downturn for the fifth consecutive year. This is the same for property prices.

Employees (Total)

• Recent national elections created

1,800,000

• Commercial property market is

showing signs of stabilizing.

€ 33,000

• Residential bank lending continues

to retract.

2,000,000

optimism on the market for economic stabilization and growth.

Unemployment

22.60%

Unemployment

• There are several opportunities in the

Greek real estate market-especially in second/vacation home market and premium properties because prices are very low.

CONTACT

Coldwell Banker Commercial Hellas 8 Omirou St. & Panepistimiou Ave. Athens, Attica 10564 +30 32 28228 www.coldwellbanker.gr

OFFICE

14.50%

Coldwell Banker Commercial Property Consultants 23 Lower Leeson St. Dublin, Dublin Dublin 2 + 353 1 4110012 www.coldwellbankercommercial.ie

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

Rental Rates

Mexico - Mexico City

The Netherlands

DEMOGRAPHICS

CBSA

Square Miles

Mexico

MARKET HIGHLIGHTS • Cinemex bought the string “Lumiere”

CBSA

as part of its expansion plan. Cinemex was acquired four years ago by GM Entertainment Company (owner of MM Cinemas) for $315 million.

Square Miles

MARKET HIGHLIGHTS

The Netherlands

41,528

• “Corproación Mexicana de Population

Households Household Income Average Employees (Total)

23,000,000

N/A

Restaurantes” will bring to Mexico “Olive Garden”, “Red Lobster” and “The Capital Grille” Walmart de Mexico reported a 4.1% annual increase in sales through promotions.

8,400,000

16,800,000

Households

7,500,000

Household Income Average

€ 36,000

approximately 500,000 SF in Q2 2012 and it is expected that over the next two years, 2 million SF will be incorporated to the inventory.

4.80%

Employees (Total)

• Absorption of office space reached

Unemployment

• The construction activity reports

10,000,000

OFFICE

industrial and office markets have remained stable in the first six months of 2012.

improving significantly. The temporarily lowered transfer tax has not increased transactions on the residential market.

• The yield levels for Office buildings

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

RETAIL

The 4 large cities in the Netherlands have demanded signed agreements with tenants in case of a new development.

use and transformation of office space. This is an excellent solution for the demand of more Mixed-Use areas.

CONTACT

• The average rent prices in the

Coldwell Banker Commercial Mexico Montes Urales 415 1 Lomas de Chapultepec Mexico, Mexico 11000 01 52 55 41621000 www.cbcmexico.mx

transaction, the total volume of transactions has increased significantly (18% in the Q1).

• There is a strong focus on alternative

5.50%

that more than 10 million SF will be incorporated into the inventory in the next three years.

CONTACT

• Despite the lower volume per

• The residential market is not

more than 2 million SF - a record quarter in this market.

Unemployment

agreement for more than 26,000 sq. meters in a high quality renovated building.

• New developments are very limited.

• The industrial market increased $31,000 MXN

Population

• Nuon Energy signed a lease

OFFICE

are becoming higher and higher. Due to forced sales a large number of opportunities will come to the market. This will offer interesting opportunities for new strong focused developers/investors.

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Turkey - Istanbul

DEMOGRAPHICS CBSA

Square Miles

Turkey Istanbul

United Arab Emirates

MARKET HIGHLIGHTS

DEMOGRAPHICS

• The economy is very strong right

CBSA

now.

• Foreign investments are increasing.

2,205

Square Miles

• Real estate laws are changing in favor

United Arab Emirates

32,278

of foreign investors.

Population

12,000,000

Population

• High return rate of investments in

8,264,070

rentals, app. annual 8%-10%.

Households Household Income Median Employees (Total)

Unemployment

2,800,000

MARKET HIGHLIGHTS • Tim Hortons, a major Canadian QSR,

opened its first franchise in the UAE with 127 more to come in the GCC region.

• The start of this year marked an

increase in the population by crossing the 2 million mark for the emirate of Dubai.

• The news of Dubai being one of the

• Very high investments predicted by

the government in real estate over the next 10 years.

N/A

Households

N/A

Household Income Median

N/A

Employees (Total)

3,570,000

Unemployment

9.80%

strongest contenders for World EXPO 2020 has put a renewed confidence in the business fraternity of Dubai.

• The Arab uprising contributed to a

4,100,000

surge in demands for the Residential as well as the Commercial property market. And once again, Dubai has proved to be a safer bet in the Middle East.

• Emaar Properties, the leading

N/A

developer of Dubai, announced their first off-plan project in Q2 of 2012.

• The key feature of UAE being a tax-

CONTACT

free and a duty-free haven with strong trading hub serving the GCC/AFRICA/ CIS countries has attracted all the major players to have a base in U.A.E.

CONTACT

Coldwell Banker Commercial Turkey Ridvanpasa sok. 12,Goztepe, Kadikoy Istanbul, Turkey 34760 +90 216 4118030 www.coldwellbanker.com.tr

OFFICE

Coldwell Banker Commercial U.A.E. (Mega Homes Real Estate Brokerage L.L.C.) Office # 2804, Citadel Tower Business Bay Dubai, Dubai P.O. Box 73618 +971 (4) 439 1200 www.coldwellbanker-ae.com

RETAIL

OFFICE

RETAIL

Vacancy

Absorption

Rental Rates

INDUSTRIAL

MULTI-FAMILY

INDUSTRIAL

MULTI-FAMILY

Vacancy

Absorption

N/A

Absorption

Rental Rates

Index by Market Abilene, TX Acadiana, LA Albany, NY Albuquerque, NM Anchorage, AK Arcadia, CA Athens, GA Atlanta, GA Austin, TX Billings, MT Birmingham, AL Bloomington/Normal, McLean County, IL Boise, ID Brevard County, FL Bryan/College Station, TX Central, NJ Champaign/Urbana, IL Charleston, SC Charlotte/Sarasota Counties, FL Chatham County, GA Chattanooga Metro Area, TN Cheyenne Metro, WY Chicagoland, IL Coeur dâ&#x20AC;&#x2122; Alene, ID Columbia, SC Columbus, GA Dallas/Fort Worth, TX Danbury/Upper Fairfield/New Haven, CT Daytona/Ormond Beach, Volusia County, FL Delaware County, IN Destin, FL Dothan, Houston County, AL Fairfield County, CT Fargo/Moorhead, ND Florida Keys, FL Gainesville, FL Garden City, KS Greenville/Spartanburg, SC Gulfport/Biloxi, MS Hinesville/Fort Stewart, GA Honolulu, HI Hot Springs, AR Houston, TX Indian River County, FL Inland Empire North/Victor Valley, CA Jacksonville, FL Janesville/Beloit, WI Jonesboro, AR Kansas City Metro Area, KS King County, WA Knoxville/East, TN Lake Oconee/Lake Sinclair, GA Lakeland/Winter Haven, FL Lincoln, NE Little Rock, AR Long Island, NY Lorain County, OH Los Angeles, CA Los Angeles, Westside, CA Louisville Metro, KY Lubbock, TX Lynchburg, VA Macon, Bibb County, GA Madison/St. Clair Counties, IL Mankato, MN Melbourne/Brevard County, FL Midcoast, ME Middle, MI

55 35 44 44 5 8 24 25 55 41 4 29 28 15 56 42 30 51 16 25 54 63 30 29 52 26 56 14 16 32 17 4 14 47 17 18 33 52 40 26 28 6 57 18 8 19 62 6 33 60 54 27 19 41 7 45 48 9 9 34 57 60 27 31 38 20 36 37

Minneapolis/St. Paul Metro Area, MN Modesto, CA Montgomery, AL Morris County, NJ Myrtle Beach, SC Napa Valley/Napa County, CA Naples/Ft. Myers, FL New Orleans, LA New York City, NY Northern, NJ Oklahoma City, OK Orange County, CA Orlando, FL Peoria County, IL Pioneer Valley, MA Pittsburgh, PA Polk County, FL Portland, OR Rapid City, SD Redding, CA Reno/Sparks, NV Rio Grande Valley, TX Sacramento Greater Area, CA Salem, OR Salt Lake County, UT San Antonio, TX San Gabriel/San Fernando Valley, CA Sangamon County, IL Sarasota/Manatee/Charlotte Counties, FL Sedona/Verde Valley, AZ South Puget Sound, WA Southeastern, NC Southeastern, PA Southern, FL Southern, KY Southwest Riverside County, CA St. Cloud/Central, MN St. Joseph, MO St. Lucie County, FL Suburban, MD Sussex County, DE Tacoma, WA Tallahassee, FL Tampa/St. Petersburg, FL Triad Area, NC Triangle, NC Vancouver & Southwest, WA Waco, McLennan County, TX Western, CO Western, MI York/Lancaster/Harrisburg, PA INTERNATIONAL MARKETS Bermuda Canada - Belleville - Greater Toronto Area - Kelowna/West Kelowna - Nanaimo, BC - Ottawa, Ontario - Waterloo Region Colombia - Cartagena Greece Ireland Mexico - Mexico City The Netherlands Turkey - Istanbul United Arab Emirates

39 10 5 43 53 10 20 35 45 43 48 11 21 31 37 50 21 49 53 11 42 58 12 49 59 58 12 32 22 7 61 46 50 22 34 13 39 40 23 36 15 61 23 24 46 47 62 59 13 38 51 63 64 64 65 65 66 66 67 67 68 68 69 69 70

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