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2012 CBC Market Review: Blue Book

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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 …

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. The CBC® Blue Book offers a unique market perspective:


Covering over 110 Primary, Secondary, Tertiary and International Markets

Written by the CBC professionals within the local markets

Published in: Business, Real Estate

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  • 1. 2012 Coldwell Banker Commercial Blue Book Market Review Check out the NEW MARKET SNAPSHOTS cbcworldwide.com
  • 2. ABOUT THE CBC® BLUE BOOKThe 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 over110 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 marketinformation in order to make informed real estate decisions.TABLE OF CONTENTSAL - Dothan, Houston County 3 MN - Minneapolis / St. Paul Metro Area 31AL - Huntsville 3 MN - St. Cloud / Central 31AL - Montgomery 4 MO - Springfield Area 32AR - Hot Springs 4 MO - St. Joseph 32AR - Little Rock 5 MT - Billings 33CA - Humboldt County 5 NE - Lincoln 33CA - Inland Empire / Palm Springs 6 NJ - Morris County 34CA - Inland Empire North / Victor Valley 6 NJ - Northern 34CA - Los Angeles 7 NM - Albuquerque Metro 35CA - Los Angeles Westside 7 NY - Albany (NY Capital Region) 35CA - Modesto 8 NY - New York 36CA - Monterey / San Benito Counties 8 NV - Reno / Sparks MSA 36CA - Monterey Peninsula 9 NC - New Hanover County 37CA - Orange County 9 NC - Outer Banks 37CA - Redding 10 NC - Research Triangle 38CA - Rowland Heights 10 NC - Winston-Salem 38CA - San Diego 11 ND - Fargo / Moorhead 39CA - San Fernando / San Gabriel Valley 11 OR - Portland 39CA - San Francisco 12 OR - Salem 40CA - San Gabriel Valley North 12 PA - Central 40CA - Southwest Riverside County 13 PA - Northeastern 41CO - Western 13 PA - Southwestern 41CT - Danbury / New Haven County 14 SC - Charleston 42CT - Fairfield County 14 SC - Columbia 42DE - Sussex County 15 SC - Greenville / Spartanburg 43FL - Alachua County 15 SC - Myrtle Beach 43FL - Deltona-Daytona / Ormond Beach 16 SC - Sumter 44FL - Jacksonville 16 TN - Chattanooga / North GA 44FL - Lakeland / Winterhaven 17 TN - Knoxville / East Tennessee 45FL - Manatee, Sarasota, Charlotte Counties 17 TX - Austin 45FL - Port St. Lucie 18 TX - Bryan / College Station 46FL - South 18 TX - Central 46FL - Southwest 19 TX - East 47FL - Tampa / St. Petersburg 19 TX - Houston 47FL - The Florida Keys 20 TX - Lubbock 48FL - Vero Beach / Indian River County 20 TX - Victoria County 48GA - Athens 21 UT - Salt Lake City 49GA - Atlanta Greater MSA 21 VA - Lynchburg 49GA - Atlanta MSA 22 WA - Clark County 50GA - Greene / Morgan / Putnam Counties 22 WA - King County 50GA - Savannah 23 WA - South Puget Sound 51HI - Honolulu 23 WA - Tacoma 51ID - Boise 24 WI - Madison 52ID - Kootenai County 24 INTERNATIONAL MARKETSIL - Bloomington / Normal 25 Bermuda 53IL - Champaign / Urbana 25 Canada - Ontario (Eastern) 53IL - Chicagoland 26 Canada - Greater Toronto Area 54IL - Springfield 26 Canada - Waterloo Region 54KS - Kansas City Metro Area 27 Czech Republic 55KY - Louisville Metro 27 France 55KY - Southern 28 Greece 56LA - Lafayette 28 Ireland 56LA - New Orleans 29 Mexico - Mexico City 57ME - Midcoast 29 Perú - Lima 57MI - Middle 30 Puerto Rico 58MN - Mankato 30 Spain 58
  • 3. AL - Dothan, Houston County AL - HuntsvilleDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • New Medical school broke • Target adds third store to Huntsville, CBSA Dothan, AL ground with the first class to be CBSA market. AL admitted in August 2013. $40 million has been secured for the • Huntsville ranked very highly Square Miles 1,718 first phase of construction. Square Miles 1,373 by numerous evaluating organizations. • Healthcare industry drives the Dothan market with 70% of • Target, Kohl’s, Wal-Mart, Population 143,295 patients traveling from outside Population 410,866 Kroger, a hospital, three strip of Dothan. centers and more, are under construction. • Cost of Living Index is one of Households 57,785 Households 166,785 • Market is improving, although the lowest in the nation. prices are slightly lower. Household • Tourism industry is at record Household Income $58,837 volume for Alabama and Income $76,572 • Potential of another BRAC Average Dothan Area. Average could benefit Huntsville in 2013. • Employment rate continues toEmployees (Total) 58,833 outperform state and national Employees (Total) 174,427 • This region has more PhDs per levels. capita than anywhere in USA. • City and County offer advantage Unemployment 7.1% Unemployment 6.4% sites ready for development.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Alfred Saliba Realty McLain Real Estate 410 N. Shady Ln. 2800 Bob Wallace Ave. S.W. Dothan, AL 36303 Huntsville, AL 35805 (334) 793-6600 (256) 533-3414 www.alfredsalibacommercial.com www.mclaincommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  3 Rental Rates  Rental Rates 
  • 4. AL - Montgomery AR - Hot SpringsDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Hewlett Packard leased 60,000 • Eldercare relocated to their new Montgomery, Hot Springs, CBSA SF of Colonial Bank Groups CBSA facility in late 2011. PetSmart, AL AR former Class A structure. Mattress King and New Life Christian Book Store opened new Square Miles 2,725 • Office vacancy continues to Square Miles 677 locations in Fairgrounds Crossing. rise with bank foreclosures, REO offerings and a general • The Office vacancy rate continues reduction in demand. to rise and new tenants are Population 367,157 Population 98,888 interested in smaller suites. • Retirement Systems of Alabama Several landlords have provided completed a new 400,000 SF tenant improvements and divided Class A building downtown. large suites. Households 147,017 Households 43,175 Warehouse space began to see some tightening. Retail • Construction of the Arkansas Household space is recovering as well. Household School for Math and Science Income $68,657 One new 200+ Unit Apartment Income $56,350 Living Center is nearing Average Complex was completed in East Average completion. A new Apartment Montgomery. project has been approved for construction in the Hwy. 70 WestEmployees (Total) 144,160 Employees (Total) 32,750 • The residential market area. continues to struggle, except for one bright spot of new • There has been an increase in development that is selling residential sales volume in 2012. Unemployment 7.7% Unemployment 7.4% new homes at bargain prices Sales prices continue to remain due to sales of shovel ready steady, particularly in lakefront but foreclosed upon REO properties. subdivisions. • Baxley/LogPro have expandedCONTACT • Mom and pops are trying to CONTACT their operation in Hot Springs. recover and looking to get Land has been purchased for the Coldwell Banker Commercial back to investing in the new Coldwell Banker Commercial new county jail and construction Moore Company Realty economy. RPM is scheduled to begin this year. 121 Coosa St., Suite 250 401 Section Line Rd., Suite F Montgomery, AL 36104 • Investors continue to pour Hot Springs, AR 71913 • Two building expansions are (334) 262-1958 money into the CBD, and (501) 520-4000 underway in Mid-America www.cbcmcr.com tenants are rewarding them www.cbcrpm.com Industrial Park. One of the with the first look. companies is a new entity to Garland County. OFFICEOFFICE RETAIL RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates  INDUSTRIALINDUSTRIAL MULTI-FAMILY MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy N/A Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  4 Rental Rates  Rental Rates N/A
  • 5. AR - Little Rock CA - Humboldt CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Little Rock- • A 3-building complex was Eureka • Wal-Mart to open its first store in North Little acquired from Verizon Wireless CBSA Arcata Humboldt County in 2012. Shell CBSA Rock by local investors and offered Fortuna, CA has proposed construction of a Conway, AR to market as new multi-tenant 25 turbine wind farm. inventory. Square Miles 3,572 • New construction of 48,000 SF Square Miles 4,090 • Retail market had over 115,000 Safeway store completed in 2011 SF of positive absorption in 4th and 100,000 SF hospital addition Quarter of 2011. Population 130,076 to be completed in spring of Population 690,456 2012. • Kum & Go convenience store chain entered the market for • Confidence in investing in major expansion and opened Households 54,341 commercial real estate slowly Households 276,042 two stores in 4Q 2011. improved in 2011. Total commercial sales volume in Household Household • Dillard’s established internet Income $53,630 2011 increased by 5% from 2010 Income $71,848 fulfillment center and brought Average & Multi-Family sales volume is Average 300 jobs to area. slightly up. Leasing remained strong in 2011. Although Retail & • French company Saint-Gobain Employees (Total) 36,951 Warehouse rents decreased whileEmployees (Total) 290,765 made $100 million investment Office rents were up significantly. and created 140 jobs in Saline County. • The number of sold residential Unemployment 10.6% listings in 2011 was slightly Unemployment 6.5% • Forbes.com named Little Rock higher than the previous year. the “6th best mid-size city for However, the sold median jobs” and the ”14th best metro residential price was down for young professionals.” slightly, as were residential rentalCONTACT CONTACT rates. Coldwell Banker Commercial Coldwell Banker Commercial • Humboldt County’s Hathaway Group Pacific Partners Real Estate unemployment rate was slightly 2100 Riverdale Rd., Suite 100 1036 5th St., Suite A lower than the state average Little Rock, AR 72202 Eureka, CA 95501 in 2011. The largest employers (501) 663-5400 (707) 442-2222 include Humboldt State www.hathawaygroup.com pacificpartnerscommercial.com University, St. Joseph Hospital and County of Humboldt.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  5 Rental Rates  Rental Rates 
  • 6. CA - Inland Empire / Palm Springs CA - Inland Empire North / Victor ValleyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Riverside- • Strongest property sector is Riverside- • Macy’s was announced as a new San Multi-Family investments. San mall anchor, replacing empty CBSA CBSA Bernardino- Bernardino- Gottschalks. Ontario, CA • There is excellent financing Ontario, CA for apartment buildings in this • JCPenney announced it is market. doubling in size. Square Miles 27,260 Square Miles 27,260 • Increase in Land acquisition • 500k Industrial space was by builders and developers for absorbed at SCLA by furniture Population 4,171,856 Multi-Family and Manufacturing Population 4,171,856 manufacturing. properties. • 2011 Multi-Family prices • Skechers USA has moved into increased over 2010. Households 1,350,253 over 1 million SF. Households 1,350,253 • 3 Super Wal-Marts broke • Hewlett Packard has moved into ground in past 8 months; 3 Household Household Income $67,386 over 1 million SF. Income $67,386 additional are slated for 2012. Average Average • Office, Retail and Industrial are improving in buildings thatEmployees (Total) 1,156,307 have a good location or are top Employees (Total) 1,156,307 properties. Unemployment 7.8% Unemployment 11.9%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT-Southern California Real Estate Solutions 1081 North Palm Canyon Dr 15500 W. Sand St., 2nd Floor Palm Springs, CA 92263 Victorville, CA 92392 (949) 280-2530 (760) 684-8000 www.cbcworldwide.com www.cbcdesert.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  6 Rental Rates  Rental Rates 
  • 7. CA - Los Angeles CA - Los Angeles WestsideDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Los Angeles- • Owner-users are purchasing Los Angeles- • Strongest property sectors are Long Beach- buildings. Long Beach- Multi-Family, single-tenant NNN CBSA CBSA Santa Ana, Santa Ana, investments, Medical Office and CA • Developers are in the market CA Industrial (due to the scarcity of looking for Mixed-Use projects the product and ability to convert and Apartments. to creative office uses). Square Miles 4,850 Square Miles 4,850 • Multi-Family is in high demand. • The strongest sub-markets are the Santa Monica-Venice creative Population 12,935,173 • Creative office space is in high Population 12,935,173 corridors, Beverly Hills, West demand. Hollywood and Brentwood. • Coastal submarkets, including • Multi-Family market is very active Households 4,288,080 Santa Monica and Venice, are Households 4,288,080 and financing is readily available. flourishing. Cap rates in A/B areas are 4%-5%, Household Household B/C areas range from 4.75%-6.5%. Income $87,517 • Technology and entertainment Income $87,517 Average companies are expanding. Average • A lot of cash is on the sidelines, much of it chasing similar product – well located propertyEmployees (Total) 5,313,010 Employees (Total) 5,313,010 with strong tenants and/or upside potential. Most investors continue to be risk-averse and opt for lower returns on less risky Unemployment 10.6% Unemployment 10.6% investments. • Developers are looking for opportunities to build withCONTACT CONTACT several-hundred-thousand SF of Multi-Family, creative Office and Coldwell Banker Commercial Coldwell Banker Commercial Mixed-Use developments in the WESTMAC NRT - Los Angeles pipeline, slated to come on line in 1515 S. Sepulveda Blvd. 11999 San Vicente Blvd. 2013-2015. Los Angeles, CA 90025 Suite 100 (310) 478-7700 Los Angeles, CA 90049 • Single family/condo market is www.westmac.com (310) 820-6651 trending upwards with more offer www.cbcworldwide.com activity, more sales and shorter marketing times.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  7 Rental Rates  Rental Rates 
  • 8. CA - Modesto CA - Monterey / San Benito CountiesDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Stanislaus County is located in • Hampton Brown/National CBSA Modesto, CA the Central Valley. Its county CBSA Salinas, CA Geographic vacated a large seat is Modesto, which is where portion (approximately 30,000 many people in the surrounding SF of space) on Carmel Rancho areas shop. Blvd., Carmel and relocated Square Miles 1,494 Square Miles 3,322 to Ryan Ranch Business Park, • The major industry is Monterey. AG-related, employing Population 512,221 approximately 18,000 people Population 413,103 • San Miguel Market/PAQ Inc. or 11.3% of the total 160,000 relocated to a 40,000 SF space people that are employed. in the Santa Lucia Shopping Unemployment varies based Center, Greenfield, CA on a 10 Households 167,008 on the fact that most of the AG Households 133,220 year lease deal. jobs are seasonal. Household Household • Retail activity is up, especially Income $63,534 • Shopping areas that are well Income $86,472 in downtown Carmel-by-the- Average located have been attracting Average Sea, where demands are up and new tenants with some major rents per SF are up. Khaki’s just remodeling. Due to lack of new relocated to Carmel.Employees (Total) 140,743 construction, the vacant space Employees (Total) 120,633 has been absorbed as needs • Downtown Monterey, the arise. Kaiser Permanente built Core Center, is looking at a major hospital complex with a new plan. The city and Unemployment 16.1% Unemployment 14.9% business community is focused Memorial Hospital making a major expansion. and moving forward with a redevelopment plan to increase • There has been major layoffs in the Mixed-Use properties and the government sector based a large conference serviceCONTACT on tax assessments being CONTACT expansion. There are currently lowered by a downturn in real 2-3 major projects in the work Coldwell Banker Commercial estate values. Leveling out has Coldwell Banker Commercial for this area. Vinson Chase, Realtors occurred and all are hoping real NRT - Carmel 220-C Standiford Ave. estate prices will start to rise 3775 Via Nona Marie • Office space rental rates are Modesto, CA 95350 in 2012. This will only come if Carmel, CA 93923 slightly down, and there is a (209) 577-2121 the unemployment in the area (831) 626-2200 large amount of Office space www.cbcworldwide.com starts to decline. www.cbcworldwide.com available. • Office and Retail are improving • Shrinking inventory and prices in good centers and locations. are stabilizing in residential.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  8 Rental Rates  Rental Rates 
  • 9. CA - Monterey Peninsula CA - Orange CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Tuesday Morning, a national • Class A High Rise outperformed Los Angeles- CBSA Salinas, CA tenant, leased 10,000 SF. Long Beach- the balance of the market. CBSA Santa Ana, • There has been no change in CA • Retail Shopping Center Square Miles 3,322 vacancy in this market. construction is still on hold. • Limited new construction in Square Miles 4,850 • 2050 Main Street in Irvine sold this market. for $108.5 million. Population 413,103 • Trend of the last few years • Sale-leasebacks are making a Population 12,935,173 continues. comeback. Households 133,220 • The area has restricted access • LA Fitness inked a 91,023 SF to water; consequently new Households 4,288,080 long-term lease. Household business activity is limited to Income $86,472 what water is actually available • Multi-Family market is hot. on site. Household Average Income $87,517 AverageEmployees (Total) 120,633 Employees (Total) 5,313,010 Unemployment 14.9% Unemployment 7.8%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Carmel NRT - Newport Beach 3775 Via None Marie 4 San Joaquin Plz., Suite 260 Carmel, CA 93923 Newport Beach, CA 92660 (831) 626-2200 (949) 644-1600 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  9 Rental Rates  Rental Rates 
  • 10. CA - Redding CA - Rowland HeightsDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Retail vacancy rate fell 2% in Los Angeles- • Team One Employment CBSA Redding, CA 2011. Long Beach- Specialist (Skechers) closed CBSA Santa Ana, its 3 locations in Ontario • Government lease dominated CA totaling 1.31m SF building as of Square Miles 3,785 the Office market. 10/31/2011. Square Miles 4,850 • One hotel is under construction • Continued lack of consumer and another is about to break confidence is making business Population 181,457 ground. owners downsize. Vacancy is still Population 12,935,173 fluctuating. • Distress/foreclosure opportunities are fading. • Residential market is still Households 71,491 struggling because of REOs; the • Retail rents are stable and Households 4,288,080 market is expecting the most Household possibly on the rise. foreclosure homes in 2012. Income $60,230 Household Average • Unemployment rate has fallen Income $87,517 • Lack of confidence still makes for 4 consecutive months. Average the overall market unstable, but it is expected to see a clearEmployees (Total) 53,468 turning point by the end of Employees (Total) 5,313,010 2014. • The area is mostly downsizing, Unemployment 13.4% but pretty stable compared to Unemployment 11.6% other cities in U.S.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial C&C Properties George Realty 2155 Larkspur Ln. 19220 E. Colima Rd. Redding, CA 96002 Rowland Heights, CA 91748 (530) 222-2011 (626) 457-2300 www.cbcnorthstate.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  10 Rental Rates  Rental Rates 
  • 11. CA - San Diego CA - San Fernando / San Gabriel ValleyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS San Diego- • Sales activity for Retail buildings Los Angeles- • Green Dot Corporation moved CBSA Carlsbad-San is up and cap rates are down. Long Beach- to Pasadena and leased 143,000 CBSA Marcos, CA Santa Ana, SF. • This market is experiencing a CA rise in prices due to very low • Office users are slowly hiring Square Miles 4,200 new construction activity. and leasing additional space. Square Miles 4,850 Vacancy is slowly decreasing. • Overall vacancy for Office Population 3,071,264 increased to 16.9%. • There are many proposed Population 12,935,173 Office buildings; however, no • Illumina moved into 171,340 SF new Office developments have at Bldg 1 at 5200 Research Place commenced construction. Households 1,129,261 and 159,272 SF at Bldg 2. Households 4,288,080 • Retail vacancies are decreasing • Industrial vacancies are up to due to the local and regional Household 10.8%. tenant activity, which landlords Income $89,161 Household Average Income $87,517 are accepting in lieu of Average disappearing national credit activity.Employees (Total) 1,227,936 Employees (Total) 5,313,010 • There is a high demand for Multi-Family properties due to: 1) income 2) desire for Unemployment 8.9% conservative investments 3) Unemployment 11.6% low interest rates and financing availability.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - La Mesa North County 9332 Fuerte Drive 801 N. Brand Blvd., Suite 180 La Mesa, CA 91941 Glendale, CA 91203 (619) 460-6600 (818) 334-1900 www.cbcworldwide.com www.cbcnco.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  11 Rental Rates  Rental Rates 
  • 12. CA - San Francisco CA - San Gabriel Valley NorthDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS San Francisco- • Salesforce.com has signed Los Angeles- • Pricing and demand increasing CBSA Oakland- a 400,000 SF lease in San Long Beach- slightly but positively. CBSA Fremont, CA Francisco, the largest Office Santa Ana, deal in the city in a decade. CA • Class A product and smaller buildings have retained their Square Miles 2,473 • Several tech companies have value better. Square Miles 4,850 seen substantial growth and demand for public offerings. • Industrial vacancy is 4-5%. Population 4,347,767 Office vacancy is 13-14%. • South of Market construction Population 12,935,173 has rebounded slowly and • Virtually no construction for will continue in Mission Bay, Office and Retail. It will require Households 1,661,661 highlighted by the erection of increase in space demand and UCSF’s new medical center. Households 4,288,080 rates. Household • Median prices for residential • Many tenants are renewing Income $113,164 Household Average properties remain flat, although Income $87,517 leases 1-2 years early at current the sales volume has increased. Average market rates.Employees (Total) 1,916,201 • As high profile service industry • Very few commercial leaders such as Bank of America Employees (Total) 5,313,010 foreclosures partially due to continue to face economic large down payments. SBA is hardships, technology and seeing more foreclosures due Unemployment 7.3% biotech firms will continue to to low down payments in the drive the city’s employment and Unemployment 11.6% 10-20% range. real estate market. • Demand for large Hotels is • San Francisco’s citywide Office increasing with several in theCONTACT vacancy rate was 14.7% in CONTACT pre-development stage. the fourth quarter of 2011, Coldwell Banker Commercial the ninth-lowest among 79 Coldwell Banker Commercial Westbay Real Estate Group metropolitan areas. Asking NRT - Arcadia 1575 Bayshore Hwy., Suite 100 rates in South of Market 15 E. Foothill Blvd. Burlingame, CA 94010 climbed 22% in the fourth Arcadia, CA 91006 (650) 344-4300 quarter from a year earlier to (800) 445-5500 www.cbcburlingame.com $46 a SF, the fastest growth rate www.cbcworldwide.com for that area since 2000.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  12 Rental Rates  Rental Rates 
  • 13. CA - Southwest Riverside County CO - WesternDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Riverside-San • EB-5 money floods the market, • Industrial sector leads all Grand CBSA Bernardino- closing over 200,000 SF in CBSA sectors in western Colorado. Junction, CO Ontario, CA Industrial. • Vacancy levels stable across the • Industrial leases on the rise, Square Miles 3,328 board. Square Miles 27,260 Office vacancy is down, Retail lease rates are up. • Retail vacancies are up slightly. Population 4,171,856 • 160,000 SF of corporate Office Population 148,298 • Residential sales numbers grow, space was completed for while prices decline. Professional Hospital Supply’s headquarters. • Unemployment still at 9% and Households 1,350,253 Households 60,317 has not subsided. The economy • 191,000 SF of Industrial space is expected to be flat for the leased to Abbott Laboratories Household next year or two. Household Income $67,386 under a 4 year agreement. Income $61,730 Average Average • Western Colorado is the • Unemployment rate has emerging wine capital of Rocky dropped from 15% to 12.5%, Mountains.Employees (Total) 1,156,307 building optimism in business Employees (Total) 54,564 owners. Unemployment 12.5% Unemployment 9.0%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Sudweeks Group Prime Properties, LLC 27708 Jefferson Ave., Suite 201 550 Patterson Rd., Suite B Temecula, CA 92591 Grand Junction, CO 81506 (951) 200-7683 (970) 243-7375 www.cbcsuds.com www.grandjunctioncommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption  Rental Rates  Rental Rates N/A 13 Rental Rates  Rental Rates 
  • 14. CT - Danbury / New Haven County CT - Fairfield CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Bridgeport- • Forever 21, Dick’s Sporting Bridgeport- • Significant 2011 leases include: CBSA Stamford- Goods, Cheesecake Factory CBSA Stamford- Largest Industrial - 275k SF, NBC Norwalk, CT and Brio have landed at the Norwalk, CT Sports at The Campus (former Danbury Fair Mall. General Clairol site); Largest Offices are Motors Northeast Regional Sales 230k SF for Bridgewater Assoc Square Miles 626 Square Miles 626 Division occupied 26,000 SF of at 20 Westport Rd and GE Asset Class A Office space at The Matrix Mgmt expanded from Stamford Corporate Center. PepsiCo has Sq. w/ 147k into 158k SF at 1600 Population 904,874 also chosen to locate in Danbury, Population 904,874 Summer St. with 10,665 SF of Class A Office space. • Fairfield County’s available, vacant-sublease space Households 336,733 • Area vacancy rates are down Households 336,733 decreased across the board. due in part to low supply and an Office went from 860k SF to Household influx of commuting professionals Household 599k SF, Industrial from 111k SF Income $149,604 now residing in neighboring Income $149,604 to 74k SF and Retail from 50k SF Average Brewster, NY. Key transportation Average to 16k SF. outlets allow them to commute to lower Fairfield County, New York • The total new constructionEmployees (Total) 419,437 City and Boston, while enjoying a Employees (Total) 419,437 completed was 950k SF; 547k SF more affordable lifestyle locally. of Office, 148k SF of Industrial and 254k SF of Retail. • Construction in the area includes: Unemployment 6.0% $33.8M / 95,000 SF Armed Forces Unemployment 6.9% • There is 172M SF of existing Reserve Center in Danbury, CT. commercial space in Fairfield Brookfield, CT. Costco (12,000 SF) County with 67M SF of Office; is increasing existing building by 58M SF of Industrial and 47M SF 15,000 SF and will also construct of Retail.CONTACT a gas station on abutting 1.25 CONTACT acre pad site. Danbury Regional • Commercial Sales have Coldwell Banker Commercial Hospice to construct a 30,000 SF Coldwell Banker Commercial increased by 30% over 2010 Scalzo Group center. NRT - CT and Connecticut is the 15th 2 Stony Hill Rd., Suite 101 77 Old Ridgefield Road most popular state for a Fortune Bethel, CT 06801 • Despite lower mortgage rates, Wilton, CT 06897 500 corporate headquarter (203) 744-7077 single family home sales volume (203) 831-4187 locations. www.coldwellbankerscalzo.com www.cbcworldwide.com and pricing are down, remaining approximately 28% and 30% below the 2005 peak.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy N/A Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  14 Rental Rates  Rental Rates N/A
  • 15. DE - Sussex County FL - Alachua CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Several national tenants are • 266 Office lease listings totaling Gainesville, CBSA Seaford, DE currently in negotiations for CBSA 811,790 SF are currently on the FL space on Coastal Highway near market. Rehoboth. Square Miles 938 Square Miles 1,223 • Average gross Office lease • Commercial activity in Eastern rate is $13.05/SF, a decrease of Sussex is starting to improve 1.87% since 4th Qtr 2010. after more than three years in Population 194,215 the doldrums. Population 261,674 • Average Office lease listing is on the market 413 days. • Very little new commercial construction is causing • 192 Retail lease listings totaling Households 78,981 Households 113,545 779,897 SF are on the market. absorption of existing Retail and Office space. Household Household • Average NNN Retail lease rate is Income $67,088 • Volume for closed residential Income $62,879 $15.14/SF, a decrease of 1.65% Average sales was up 9% for 2011. Average since 4th Qtr 2010. • Eastern Sussex County is the • Average Retail lease listing is onEmployees (Total) 68,986 leading retiree destination for Employees (Total) 87,322 the market 530 days. the mid-Atlantic states. • Property taxes in Sussex County Unemployment 7.7% Unemployment 7.6% are so low that many buyers think they are being quoted a monthly rate.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Resort Realty M.M. Parrish Realtors 20184 Coastal Hwy. 3870 N.W. 83rd St. Rehoboth Beach, DE 19971 Gainesville, FL 32606 (302) 227-5000 (352) 264-3800 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy N/A Vacancy N/A Vacancy  Vacancy  Absorption N/A Absorption N/A Absorption  Absorption  Rental Rates N/A Rental Rates N/A 15 Rental Rates  Rental Rates 
  • 16. FL - Deltona-Daytona / Ormond Beach FL - JacksonvilleDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Deltona • Daytona Beach International • EverBank Financial Corporation Jacksonville, Daytona Airport reports that boardings CBSA leased 270,000 SF, covering CBSA FL Ormond are up and Jet Blue and nine floors, at the AT&T Tower. Beach, FL Southwest are in discussions to The building will be renamed begin service this year. Square Miles 3,221 “EverBank Tower.” The move should help to revitalize the Square Miles 1,103 • Resort and Bed tax collections downtown area. are up and the Hospitality industry is seeing increased Population 1,334,380 • Bi-Lo, the Greenville, SC-based Population 495,625 projections. supermarket chain, agreed to buy Winn-Dixie Stores, Inc. • Multiple large and small beach for $560 Million. The new Households 518,910 front Hotel/Motel operations company will have around 687 Households 214,567 are going through major grocery stores and a workforce renovations and upgrades, Household of 63,000 in eight states Household with multiple large ocean front Income $76,866 throughout the Southeast. Income $62,419 property sales being completed Average Average for future development. • The $55 million sale of a Gate Parkway Apartment Complex Employees (Total) 551,254 • This is one of 19 communities is an indicator that the city’sEmployees (Total) 146,482 across the country to be rental market is improving selected as a “Forward and should continue to trend Next Generation Learning upward in 2012. Unemployment 9.2% Community.” Unemployment 10.1% • Acosta, Inc. expects to hire • Embry-Riddle Aeronautical 2,000 employees in the first University of Daytona Beach has quarter of 2012, 40 to 50 been selected as one of three of whom will be in theirCONTACT Next-Gen test beds for the CONTACT Jacksonville office. modernization of the National Coldwell Banker Commercial Airspace System. Coldwell Banker Commercial • The restaurant industry was on Benchmark Benchmark the mend locally in 2011. New 570 Memorial Cir., Suite 300 • Teledyne is doubling their 4348 Southpoint Blvd., Suite 310 national and regional restaurant Daytona Beach production square footage for Jacksonville, FL 32216 chains to the area include: Ormond Beach, FL 32174 their fiber optic and electrical (904) 281-1990 Seasons 52, BJ’s Restaurant & (386) 672-8530 interconnect systems. www.cbcbenchmark.com Brewhouse, Logan’s Roadhouse, www.cbcbenchmark.com Smashburger, First Watch and Poe’s Tavern.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  16 Rental Rates  Rental Rates 
  • 17. FL - Lakeland / Winterhaven FL - Manatee, Sarasota, Charlotte CountiesDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Lakeland- • Several new Industrial users Sarasota- • Ringling Brothers & Barnum & CBSA Winter have made announcements CBSA Bradenton- Bailey Circus are bringing their Haven, FL including Mission Foods. Venice, FL Headquarters back to Manatee County. • The focus on start-up Square Miles 2,010 Square Miles 1,313 businesses is helping small • Industrial leasing and sales in space occupancy in Retail and Sarasota have increased. Office. Population 599,564 Population 689,676 • Residential construction is • USF Polytechnic located at I-4 picking up steam in this market. and Polk Parkway is in first phase of construction. • Home sales are on the rise. Households 233,208 Households 311,173 • Foreclosures are driving • It has been speculated that increased demand for the commercial market has hit Household Household Apartments. bottom. Income $55,323 Income $79,698 Average Average • Several banks are offering • This area has the #1 beach in attractive rates for commercial- the country and a pro businessEmployees (Total) 239,100 industrial loans; increasing Employees (Total) 230,801 attitude. demand for owner-user commercial space. Unemployment 10.7% • LEGOLAND Florida in Winter Unemployment 9.8% Haven is fully operational and attendance is meeting expectations.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Saunders Ralston Dantzler Realty NRT - Sarasota 114 N. Tennessee Ave. 100 N. Tamiami Trl. Lakeland, FL 33801 Sarasota, FL 34236 (863) 648-1528 (941) 925-8586 www.srdcommercial.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  17 Rental Rates  Rental Rates 
  • 18. FL - Port St. Lucie FL - SouthDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Government tenants are Miami-Fort • Absorption is up across all Port St. CBSA demanding improvements and Lauderdale- sectors. Lucie, FL CBSA some landlords cannot finance Pompano the construction. Beach, FL • Multi-Family investment is Square Miles 1,128 soaring in this region. • More Retail is being absorbed Square Miles 5,126 at rents of approximately 35% • Retail rental rates starting to of 2008. stabilize. Population 407,361 • No new construction in St. Lucie Population 5,566,404 • Housing market is seeing strong County. international investment. Households 169,340 • Owners who purchased Land • New construction is non or buildings in 2005 cannot Households 2,128,471 existent. Household refinance their notes. They find Income $74,600 their property is now worth • Banks are starting to use short Household Average 50% of 2005 and are losing Income $82,033 sales as an option. ownership. AverageEmployees (Total) 117,662 • Torry Pines Institute, VGTI (Vaccine and Gene therapy Employees (Total) 2,069,525 Institute) and Digital Domain have all opened large biotech Unemployment 11.2% labs in last 18 months. Outlook for better jobs in future. Unemployment 9.7%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Port St. Lucie NRT - Boca Raton 1973 S.W. Savage Blvd. 1800 N.W. Corporate Blvd. Boca Raton/Port St. Lucie, FL 34953 Boca Raton, FL 33431 (561) 995-7564 (561) 479-1225 www.stluciewestcommercialrealestate.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption  Rental Rates  Rental Rates N/A 18 Rental Rates  Rental Rates 
  • 19. FL - Southwest FL - Tampa / St. PetersburgDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Now is the time to buy in SW Tampa-St. • Tampa ranked as the third “best Naples-Marco CBSA Florida. Many properties are at Petersburg- performing” large metropolitan Island, FL CBSA 20 year lows and are far below Clearwater, areas for job growth in the replacement cost. FL nation, according to a report Square Miles 2,025 released by Headlight LLC. • Vacancies are falling in Retail, Square Miles 2,554 Office and Industrial. • The Sunshine State was ranked first in the nation for Population 320,101 • Residential market has turned its workforce in CNBC’s fourth around. Population 2,757,566 annual “America’s Top States for Business” rankings. • Housing is starting to move Households 132,487 upward. • Tampa was ranked #1 as Households 1,166,605 the “most cost-competitive Household large city for doing business” Income $118,854 Household among 22 major U.S. cities. Average Income $67,904 The ranking was based on a Average variety of business operating costs including labor, taxes,Employees (Total) 115,960 real estate and utilities (KPMG, Employees (Total) 1,059,081 4/2010). • Office Leasing: best net Unemployment 9.5% absorption since 2005. Unemployment 10.0%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Naples NRT - Tampa 550 Fifth Ave. S. 5010 W. Kennedy Blvd., 2nd Floor Naples, FL 34102 Tampa, FL 33609 (239) 596-6130 (813) 286-2964 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy N/A Absorption  Absorption N/A Absorption  Absorption N/A Rental Rates  Rental Rates N/A 19 Rental Rates  Rental Rates N/A
  • 20. FL - The Florida Keys FL - Vero Beach / Indian River CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Border Patrol Office and Winn- Sebastian • Market is showing slow CBSA Key West, FL Dixie have recently expansed. CBSA Vero Beach, improvement. FL • This area has the lowest • Income properties sell as Square Miles 997 unemployment rate in Florida; occupancy and rents increase. Square Miles 503 hotel occupancy and ADR is the highest in the State. • Unemployment is down but is still a challenge. Population 73,047 • Dunkin Donuts, Walgreens and Population 135,534 Holiday Inn Express opened • Indian River county is offering recently. job grant incentives. Households 32,553 • Inventory is down by double Households 59,807 • New construction remains soft. digits and sales are up equally. Household • Owners are starting to offer Household Income $98,489 • Urgency has re-entered the financing due to bank financing Income $94,759 Average marketplace. Average challenges. • Severe development restrictions • The area is an excellent centralEmployees (Total) 29,685 provide significant barriers to Employees (Total) 43,595 distribution location 300 entry. miles from 80% of the state’s population. Unemployment 6.2% Unemployment 11.4% • Bio fuel companies like this area due to quantity of agricultural land.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Schmitt Real Estate Company Ed Schlitt, L.C. 11050 Overseas Hwy. 1950 U. S. Hwy. 1 Marathon, FL 33050 Vero Beach, FL 32960 (305) 743-5181 (772) 778-1801 www.commercialfloridakeys.com cbc.flcoldwellbanker.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  20 Rental Rates  Rental Rates 
  • 21. GA - Athens GA - Atlanta Greater MSADEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Notable commercial growth • The Atlanta Office market ended Atlanta-Sandy CBSA Athens-Clarke includes the opening of a new CBSA Springs 2011 with its strongest quarter County, GA LEED certified downtown Athens Marietta, GA of Office absorption in 4.5 years. parking deck. The 265,000 SF Office occupancy increased by facility includes 540 parking 556,476 SF in the fourth quarter, Square Miles 1,031 Square Miles spaces, as well as Retail space, 8,376 bringing the 2011 year end Offices, and a rooftop garden. total to just over 811,000 SF. All The project represents the first space types and the market as a Population 193,495 public-private partnership in Population 5,521,582 whole are 17.8% vacant. Athens. • Buckhead led all Atlanta Office • New tenants include Waffle submarkets, accounting for Households 77,486 almost all of 2011’s space House, Fuzzy’s Taco Shop, Households 2,028,400 Yoforia, Momma Goldberg Deli absorption. Six of the top ten Household and Partner Software. largest move-ins of the year Household Income $57,618 occurred in the fourth quarter. Income $77,990 Average • Commercial growth is expected Average in Oconee County along the • Atlanta 2011 year-end market newly completed Oconee construction was up in Office,Employees (Total) 60,760 Employees (Total) Retail and Industrial. Connector/Jennings Mill Pkwy 2,223,339 extension off GA Hwy 316. The Georgia DOT helped fund the • InComm doubled its 90,000 SF $13.6 million project, which has downtown space; Regions Bank Unemployment 7.3% Unemployment 9.4% consolidated from multiple already resulted in developers submitting plans for future Offices across the market into commercial projects. 80,000 SF at Atlantic Center Plaza in Midtown; and the Reznick Group consolidatedCONTACT CONTACT Offices into 77,049 SF in Buckhead. Coldwell Banker Commercial Coldwell Banker Commercial Upchurch Realty Metro Brokers • The foremost trend in the Office 2405 W. Broad St. 3575 Piedmont Rd. N.E., market in 2011 was the flight Athens, GA 30606 Piedmont Center, Bldg. 15, to quality by tenants. Tenants (706) 354-7870 Suite 950 chose Class A properties www.upchurchrealtycommercial.com Atlanta, GA 30305 overwhelmingly, taking (678) 320-4800 advantage of favorable rental www.cbcworldwidemetro.com rates and absorbing over 1.6M SF of space in 2011.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  21 Rental Rates  Rental Rates 
  • 22. GA - Atlanta MSA GA - Greene / Morgan / Putnam CountiesDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Atlanta- • The overall market continues to • Overall market pricing is Greene Sandy firm up with increased activity CBSA beginning to stabilize. CBSA County, GA Springs in most sectors. Marietta, GA • Liquidation priced REO’s have • The Atlanta MSA consists of Square Miles 345 increased. 28 counties, over 7 million in Square Miles 8,376 population and includes the • Residential homes sales are up world’s busiest airport, superior in this market. intermodal connections, making Population 21,218 Population 5,521,582 it the distribution hub for the • The new Rock Eagle Science southeast. & Technology Park is currently under construction. The Households 8,601 project, partially funded by a • The Bank of America Plaza, Households 2,028,400 one of the biggest emblems of $500,000 grant from Georgia Atlanta’s Real Estate Boom, was Household One, consists of 130-acre tract Household sold at auction for $250 million. Income $71,671 of Land planned for 21 parcels Income $77,990 Average to be marketed for small to Average • Throughout metro Atlanta, medium-sized technology important changes to flood companies. Employees (Total) 5,263 hazard maps are underway.Employees (Total) 2,223,339 These changes may impact • The Lake Area consists of a closings and existing loans for tri-county trade area, including residents and business owners. Morgan, Greene and Putnam Unemployment 11.1% Counties. The area is a resort Unemployment 9.4% • Owings Corning completed a area with two recreational lakes giant lease consolidating in (Oconee and Sinclair). a building that once housed consumer giant Unilever.CONTACT Owings Corning will occupy a CONTACT little more than 1 million SF in Coldwell Banker Commercial the building. Coldwell Banker Commercial NRT - Atlanta Lake Country 6285 Barfield Rd. • Georgia Pacific LLC is 1020 Greensboro Rd. N.E., Atlanta, GA 30328 developing a 900,000 SF Eatonton, GA 31024 (404) 705-1590 distribution center in Henry (706) 485-0124 www.cbcworldwide.com County. www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy N/A Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  22 Rental Rates  Rental Rates N/A
  • 23. GA - Savannah HI - HonoluluDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Full steam ahead for Mitsubishi • Hawaii’s economy remains Savannah, CBSA Power Systems. CBSA Honolulu, HI healthier than the Continental GA U.S. However, it is slowing due • Great Dane to expand in to stagnant labor markets and Square Miles 1,359 Savannah. Square Miles 600 limited construction. Tourism remains a bright spot posting a • Savannah ranks as a “Top 5 record spending of $1.3 billion Container Port” in the United in 2011. Population 347,453 States. Population 910,677 • Hawaii’s construction is a • Metro Savannah unemployment replay of 2011 for 2012, with continues to fall. only military and government Households 130,609 Households 311,782 projects being awarded, • Gulfstream Aerospace plans attracting out-of-state firms to Household $500 million expansion to add Household compete for these contracts. Income $74,653 1,000+ jobs to the market. Income $83,803 Average Average • In 2011, unemployment rate rose to 6.6% with 41,900 unemployed. This is expectedEmployees (Total) 129,296 Employees (Total) 365,718 to increase due to HMC layoffs. • Hawaii’s commercial investment sales are expected to increase Unemployment 8.8% Unemployment 6.6% over 2011 as “capital freeze” thaws. Significant sales in 2011 include: Pearlridge Uptown II for $36.7 million, $42.5 million for portion of leased fee underCONTACT CONTACT Hyatt Hotel Waikiki. Coldwell Banker Commercial Coldwell Banker Commercial Platinum Partners NRT- Honolulu 128 Habersham St. 737 Bishop St., Suite 2000 Savannah, GA 31401 Honolulu, HI 96813 (912) 232-7120 (808) 526-0896 www.cbcplatinum.com www.cbcpacific.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  23 Rental Rates  Rental Rates 
  • 24. ID - Boise ID - Kootenai CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Grocery store expansion • Major Industrial employer Boise City- Coeur CBSA remains on the forefront of the CBSA expanding to include 85,000 Nampa, ID d’Alene, ID Retail market for the Treasure SF building and 125 additional Valley. New to the market are employees. Square Miles 11,788 Whole Foods and Rosauers. Square Miles 1,245 Fred Meyer and Wal-Mart • KTEC, a new 54,000 SF continue to expand. technology center, has been approved by voters in 3 Population 610,611 • Vacancy remained stable Population 140,628 districts. throughout 2011, ending the year 12.3% across the Treasure • Construction of Beck Road Valley. Interchange in Post Falls will Households 224,823 Households 53,154 increase access to retail area. • 2012 could see the most new Household construction in over 5 years. Household • Apartment renters are Income $69,877 CenterCal Properties broke Income $62,733 increasing due to the economy. Average ground on 1 million SF of Retail Average New construction of apartments and Restaurant space on a 100- is underway. acre Retail site.Employees (Total) 232,386 Employees (Total) 49,226 • 6 acres have been re-zoned • Positive signs heading into 2012 for a new hospital residency with home sales increasing program. by 34% in 2011. Realtor.com Unemployment 8.4% Unemployment 10.2% ranked Boise as #8 in the “Top • 2011 commercial properties 10 turn-around towns.” sold doubled 2010 figures. • Landlord concessions will continue to be less favorable forCONTACT tenants. Class A space remains CONTACT in high demand. Coldwell Banker Commercial Coldwell Banker Commercial NRT - Boise • Investor and lending appetite Schneidmiller Realty 4105 N Legacy Woods Ave. all display positive signs that 2000 Northwest Blvd. Meridian, ID 83646 Boise will show resurgence in Coeur d’Alene, ID 83814 (208) 888-1825 the Investment market. (208) 765-4300 www.coldwellutah.com www.cbcsr.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  24 Rental Rates  Rental Rates 
  • 25. IL - Bloomington / Normal IL - Champaign / UrbanaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • State Farm Insurance plans to • The local CRE market appears to Bloomington- Champaign- CBSA add 300 employees. CBSA have hit the bottom in 2011. Normal, IL Urbana, IL • Uptown Normal is busy with • Buyers and tenants are Square Miles 1,184 Transportation Center and other Square Miles 1,923 responding to opportunities. projects in the works. • Financing is available for owner- • ISU campus Apartment occupied buyers. Population 168,918 development is active. Population 227,494 • Student housing remains a hot • Healthcare expansions for commodity. Advocate Bromenn and OSF. Households 70,687 Households 97,325 • The unemployment rate has • Local jobless rate stays leveled out. Household consistently best. Household Income $73,184 Income $61,774 • 2012 looks to be another year of Average • Forbes rates area #22 best on Average steady improvement. their list of “Best Small Places for Business and Careers.”Employees (Total) 69,980 Employees (Total) 80,156 Unemployment 7.0% Unemployment 7.9%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Heart of America Realtors Devonshire Realty 802 S. Eldorado Rd. 201 W. Springfield Ave., 11th Floor Bloomington, IL 61704 Champaign, IL 61820 (309) 662-3377 (217) 352-7712 www.cbhoacommercial.com www.cbcdr.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  25 Rental Rates  Rental Rates 
  • 26. IL - Chicagoland IL - SpringfieldDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The Chicago Industrial market • Scheels opened a 200,000 + SF Chicago Naperville- continued to improve in the CBSA Springfield, IL store. CBSA 4th quarter of 2011. There was Joliet, IL- IN-WI 1,550,000 SF of net absorption • Springfield market has good in the 4th quarter. The largest stability because of a large Square Miles 1,182 leases signed in 2011 were work force employed by the Square Miles 7,212 Clorox for 1,350,000 SF, Home medical community and State Depot for 658,000 SF, 3M for Government. 651,000 SF and Samsung for Population 208,696 Population 9,617,804 649,000 SF. • St. John’s Hospital is doing approximately $180,000,000 • The vacancy rate in Industrial in new development and and Office space decreased in Households 87,497 redevelopment of its campus. Households 3,484,370 the 4th quarter of 2011 while This adds jobs to the medical the vacancy rate for Retail Household community and to other sectors increased. The main reasons Income $70,814 of the economy. Household Income $88,029 for the lower vacancy rate Average Average in Industrial and Office are • Residential market is slightly because several large blocks of up from previous year and space were leased and there was Employees (Total) 85,028 continues to improve.Employees (Total) 4,186,171 virtually no new construction. • Gradual increases are a result of • There has been virtually no stability of work force and the Unemployment 7.5% new construction of Retail, large area of Central Illinois that Unemployment 9.3% Industrial or Office space in the Springfield market services. 2011 and almost all of the new construction completed has • Springfield is located been build-to-suits or space approximately 3 hours fromCONTACT that was pre-leased. CONTACT Chicago, 1 1/2 hours from St. Louis and has Interstate 55 that Coldwell Banker Commercial • The residential market Coldwell Banker Commercial goes from St. Louis to Chicago NRT - Northbrook continues to struggle for sales Devonshire Realty and Interstate 72 that runs 2215 Sanders Rd., Suite 350 of single family homes and 3201 Old jacksonville Rd. from Eastern Illinois through Northbrook, IL 60062 condominiums. However, the Springfield, IL 62711 Champaign to Missouri. The (847) 313-4646 Apartment market continues to (217) 546-6650 town is centrally located for all www.cbcnrt.com flourish with low vacancies and www.cbcdr.com types of commercial activity. increasing rents. There are also several new high end Apartment buildings being built.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  26 Rental Rates  Rental Rates 
  • 27. KS - Kansas City Metro Area KY - Louisville MetroDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The Kansas City Metro Louisville/ • Demand for Apartments Kansas City, CBSA manufacturing sector saw a Jefferson remains high. MO-KS CBSA 2.8% employment growth in County, 2011. KY-IN • Unemployment is down. UPS is Square Miles 7,857 the area’s largest employer. • Ford Motor Company plans Square Miles 4,135 on investing $1.1 billion in the • New construction activity is metro area. picking up. Population 2,076,653 • The average Metro Household Population 1,263,217 • There are plenty of Retail Income is $107,505. vacancies. Households 819,900 • Several large-format Retail • The Office market remains flat. centers are scheduled for Households 506,857 Household construction in 2012. • The Louisville economy has Income $107,505 remained stable. Household Average • Housing sales were up 13% for Income $71,165 the year. AverageEmployees (Total) 914,989 • Cerner Corporation has continued to expand in the Employees (Total) 549,941 Metro Area. Unemployment 7.3% Unemployment 8.7%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Fishman and Company McMahan Co. 1948 E. Santa Fe St. 6402 Railroad Ave. Olathe, KS 66062 Crestwood, KY 40014 (913) 782-9000 (502) 241-8811 www.cbcfishman.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  27 Rental Rates  Rental Rates 
  • 28. KY - Southern LA - LafayetteDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Kentucky Transpark located in • Oil industry both onshore and Bowling CBSA Bowling Green, KY, was chosen CBSA Lafayette, LA offshore has stabilized and Green, KY as a national CSX Select Site. continues to increase. Square Miles 848 • Bowling Green is a “Top Five Square Miles 1,010 • Very few quality Industrial Location for Business and buildings are available in market Careers” in Forbes Annual area. Survey. Population 121,646 Population 264,966 • This is an active market for • New business growth is on the Industrial new construction rise in Southern Kentucky. with high demand and low availability for either sale or Households 50,840 • Residential market continues to Households 101,487 lease. rise in Southern Kentucky. Household Household • Office market vacancies have Income $61,970 • Bowling Green is the home of Income $72,004 decreased. Average the Minor League Baseball Team Average - Bowling Green Hot Rods. • Previous excess Retail space is being absorbed.Employees (Total) 50,727 • Bowling Green downtown Employees (Total) 139,997 continues to grow with • Residential new construction Southern Kentucky Performing is steady and values have been Arts Center (SKYPAC). maintained. Unemployment 7.3% Unemployment 4.6%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Legacy Real Estate Group Pelican Real Estate 2435 Fitzgerald Industrial Dr., Suite 100 806 E. Saint Mary Blvd. Bowling Green, KY 42104 Lafayette, LA 70503 (270) 781-3844 (337) 233-9541 www.cbclegacy.com www.cbcpelican.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  28 Rental Rates  Rental Rates 
  • 29. LA - New Orleans ME - MidcoastDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS New Orleans- • Oschner Hospital continued • Super Wal-Mart, McDonald’s Rockland, CBSA Metairie expansion by signing an 80,000 CBSA and Nuria C-Store have all ME Kenner, LA SF Office lease in the recently moved into the area. renovated Benson Tower adjacent to the Mercedes-Benz Superdome. Square Miles 366 • Vacancy is rising slightly due to Square Miles 3,153 Wal-Mart moving out of their • Vacancy rates have increased in existing space into a much Retail and Office due to continued larger building. Population 1,230,886 reductions in space by tenants Population 40,753 and the addition of several large • New construction includes a properties in the area. 150,000 SF Center. Households 17,284 • Units sold is increasing, and Households 469,474 • Expansion of the State Hospital System is underway with the prices are stabilizing. construction of a 424-bed Hospital Household Household facility in New Orleans. Income $65,601 • The region has experienced Income $83,382 Average Average higher tourist numbers. • The Multi-Family product has seen an increase in occupancy • There has been substantial Employees (Total) 15,971 increase in national mediaEmployees (Total) 458,428 and rental rates, while single family inventory has fallen and attention due to major events pricing seems to be stabilizing or and activity. increasing depending on location. Unemployment 6.4% Unemployment 7.0% • New Orleans’s culture has often been perceived as an obstacle to growth, but is now the reason why so many young andCONTACT entrepreneurial people are seeking CONTACT this city to conduct business and Coldwell Banker Commercial raise a family. Coldwell Banker Commercial TEC Realtors SoundVest Properties 701 Loyola Ave., Suite 401 • Louisiana exports increased 45% 147 Park St. New Orleans, LA 70150 in 2011, which is the most of any Rockland, ME 04841 (504) 566-1777 state in the country, placing 7th (207) 596-7478 www.cbctec.com among all states for export volume www.soundvest.com in the United States.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  29 Rental Rates  Rental Rates 
  • 30. MI - Middle MN - MankatoDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • General Motors has added a Mankato- • Efforts by community leaders Lansing-East CBSA third shift with production of CBSA North are paying off as vacancy in the Lansing, MI the new Cadillac, creating over Mankato, MN City Center is at the lowest rate 600 jobs. in more than a decade. Square Miles 1,707 Square Miles 1,205 • The State of Michigan is getting • A proposed expansion of the its budget under control, and Verizon Civic Center will further has found a surplus for 2012. enhance downtown vitality. Population 453,378 Population 93,650 • New construction still lags • New construction continues behind, but the new Broad Art to be focused on trucking and Museum is scheduled to open agriculture-related businesses. Households 184,334 this fall. Households 39,391 • Sales of development land Household • Residential sales appear to continue to be sluggish. Household Income $67,460 have made an upward turn with Income $63,447 Average January sales 40% greater than Average • Retail vacancy continues to be in 2011. lower than other Minnesota MSA’s, with very little change inEmployees (Total) 165,594 • Consumer confidence has Employees (Total) 49,122 absorption during the recession. improved for the first time in five years. • Medical Office and treatment space continues to be in Unemployment 6.9% Unemployment • Technology jobs are on the rise, 4.5% demand as regional residents state government seems to be look to the community to on solid footing, Michigan State provide services previously only University is continuing with the offered in Rochester or the Twin new Cyclotron, and employment Cities metro area.CONTACT is now below the national CONTACT average in Mid Michigan. Coldwell Banker Commercial Coldwell Banker Commercial Hubbell Briarwood Fisher Group 1020 S. Creyts Rd. 1400 Madison Ave., Suite 616 Lansing, MI 48917 Mankato, MN 56001 (517) 321-5000 (507) 625-4715 www.cbcworldwide.com www.cbcfishergroup.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  30 Rental Rates  Rental Rates 
  • 31. MN - Minneapolis / St. Paul Metro Area MN - St. Cloud / CentralDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Minneapolis- • Chart industries leases 141,000 • Construction is underway for St. Cloud, St. Paul- SF for 100+ manufacturing jobs CBSA a Wal-Mart Super Center to be CBSA MN Bloomington, in Owatonna. completed Fall 2012. MN-WI • Unemployment drops to 5.4%. Square Miles 1,753 • Area has improved fundaments and a decline in the local Square Miles 6,063 • Target is adding 300,000 SF to unemployment rate to 5.8%. their Brooklyn Park campus. Population 189,957 • Recent Civic Center expansion Population 3,286,547 • Apartment market staged to completed in Winter 2011. add 1,100 units in 2012. • Existing home inventory in local • Private sector added 22,000 Households 73,818 area is at a 5 year low. Households 1,267,913 jobs. Household • Market is heating up for quality • 356,000 SF in 3 net leased Income $66,444 investment offerings, also REO Household Income $89,359 buildings were acquired by Average and distressed properties, and Average Duke. strategic buyers account for majority of transactions. • Shakopee lands 3 Industrial Employees (Total) 91,676Employees (Total) 1,695,892 expansions for over 1 million SF. • Central MN market consists of 300,000+/- MSA. Major • Strong investor interest in 24- local employment sectors 32’ high Industrial and Multi Unemployment 5.8% include Education, Medical and Unemployment 5.4% Family. Manufacturing. • Retail space is benefiting from medical user demand.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Griffin Companies Orion Real Estate 1221 Nicollet Ave. S., Suite 300 630 1st St. S. Minneapolis, MN 55403 Waite Park, MN 56387 (612) 338-2828 (320) 251-1177 www.cbcgriffin.com www.cbcorion.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  31 Rental Rates  Rental Rates 
  • 32. MO - Springfield Area MO - St. JosephDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Mercy Health started • St Joseph is located just 35 CBSA Springfield, construction on a 199,000 CBSA St. Joseph, minutes north of the Kansas MO SF, $105 million Orthopedic MO-KS City International Airport on Hospital. Wal-Mart’s the Missouri River. It has access Neighborhood Market is to I-29, a major north-south Square Miles 3,010 Square Miles 1,661 building 6 new grocery stores. Interstate Highway providing a The Wonder of Wildlife Museum corridor between Mexico and is continuing their $80 million Canada and US Hwy 36, which is Population 433,579 expansion/renovation. Population 127,090 the major east-west route thru Northern Missouri. • The Assembly of God Financial Solutions just finished • This market is in the heart of Households 180,772 their 60,000 SF, $10 million Households 51,821 the Life Sciences Industry with headquarters office building. over 30 of the major companies Household Hy-Vee Grocery store opened Household located here. Income $56,651 its first Springfield location a Income $55,753 Average $17 million 86,000 SF store. Average • Boehringer Ingelheim Vetmedica is expanding and building a • The local economy is diverse 100,000 SF Office building.Employees (Total) 174,753 and has weathered the turmoil Employees (Total) 48,146 with better numbers than the • The new Easttown Business Park national economic indicators. is complete and offering excellent Industrial building sites. A 60,000 Unemployment 6.7% • Springfield unemployment rate Unemployment 6.7% SF shell building is planned to be dropped below 7% and ended built in 2012. the year at 6.7%. • Rosecrans Memorial Airport, • Springfield ranked third which serves civilian and military among American cities for job needs, is located 3 miles west ofCONTACT growth and named in a top CONTACT the city . It boasts two fully ILS- Coldwell Banker Commercial five nationwide for economic Coldwell Banker Commercial equipped runways and provides Vanguard Realtors strength. General Properties capacity for any size aircraft. 1334 E. Republic Rd. 2700 N. Belt Hwy. Springfield, MO 65804 • Springfield metro area ranks St. Joseph, MO 64506 • St Joseph is served by the Union (417) 887-5950 9th in all metro area nationwide (816) 364-2700 Pacific Railway and the Burlington www.cbcvanguard.com for job growth, a 4.4% increase www.cbcommercialgeneral.com Northern-Santa Fe Railway to over the last year with labor provide direct access to all parts force numbers reaching over of North America. 223,500.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption  Rental Rates  Rental Rates N/A 32 Rental Rates  Rental Rates 
  • 33. MT - Billings NE - LincolnDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Sanjel moved into Billings in • Gallup Poll shows Lincoln, NE as CBSA Billings, MT 2012. CBSA Lincoln, NE #2 on the “List of 10 Happiest Cities.” • Vacancy is falling due to the Square Miles 4,683 strong demand created by jobs Square Miles 1,414 • Over $38 million in building in Energy, Retail and Medical. permits were pulled for Retail improvements in the 2nd half • Announcement of a new of 2011. Population 155,673 220,000 SF Scheels Sporting Population 299,958 Goods Store scheduled to • Pinnacle Bank Arena and the open in 2014. New Volkswagen expansion of Memorial Stadium dealership scheduled to open have cranes busy in Lincoln. Households 63,905 Households 126,751 Spring of 2012. • New businesses include: ULTA, Household • Decrease in home construction Household Cheddar’s, Vitamin Cottage, Income $68,486 has led to a stable residential Income $68,288 Pancheros, Topper’s Pizza, Average market and increased demand Average Cherry Berry and many more. for Multi-Family units. • The roadways near downtownEmployees (Total) 69,806 • Energy and agricultural Employees (Total) 142,514 have been improved due to the industries are driving growth. Antelope Valley Project. • Billings is the nearest • Sam’s Club has broken ground Unemployment 4.8% Unemployment 3.6% commercial hub to the Bakken on a 2nd location in South oil boom. Lincoln.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial The Brokers Thompson Realty Group 1215 24th St. W. Suite 240 620 N. 48th St., Suite 101 Billings, MT 59102 Lincoln, NE 68504 (406) 656-2001 (402) 421-7700 www.cbcmontana.com www.cbcthompson.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy N/A Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  33 Rental Rates  Rental Rates N/A
  • 34. NJ - Morris County NJ - NorthernDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS NY-Northern • Leasing activity remains slow, NY-Northern • Panasonic North America HQ is CBSA NJ-Long but several large build-to-suits CBSA NJ-Long relocating to Newark. Island are in progress. Island • Multi-Family vacancy rates are • Corporations remain reluctant falling, and the demand for Square Miles 6,726 Square Miles 6,726 to make leasing commitments, rentals is increasing. despite depressed lease rates. • Marriott Hotel broke ground in Population 19,124,092 • The pace of Multi-Family Population 19,124,092 downtown Newark. construction has increased. • Downward slope in Residential • Stable Multi-Family properties property values has lessened. Households 7,086,346 are achieving impressive sales Households 7,086,346 prices due to demand and the • Uptick in Urban Transit Villages/ availability of financing. MXD Projects. Household Household Income $95,352 Income $95,352 Average • In general, this market is Average • Garden State is becoming shifting away from large more business-friendly (i.e. corporate users toward smaller tax credits/EDA incentiveEmployees (Total) 7,711,074 users as large corporations seek Employees (Total) 7,711,074 programs). CBD locations. • 50 of the Fortune 500 Unemployment 8.2% companies have operations in Unemployment 8.2% Morris County.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Feist & Feist Realty Corp. NRT - Livingston 1100 The American Rd. 2 E. Mount Pleasant Ave. Morris Plains, NJ 07950 Livingston, NJ 07039 (973) 829-1900 (888) 829-0221 www.feistandfeist.com www.cbcnrtnewjersey.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  34 Rental Rates  Rental Rates 
  • 35. NM - Albuquerque Metro NY - Albany (NY Capital Region)DEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Lowes announces new Customer Albany • Friendly’s closed 11 Capital Albuquerque, CBSA Support Center in Albuquerque CBSA Schenectady- Region restaurants to help NM - 60,000 SF, providing up to 600 Troy, NY exit Chapter 11 bankruptcy new jobs. protection. Square Miles 9,288 Square Miles 2,817 • Dick’s Sporting Goods is coming • SUNY Nanotech campus to northwest Albuquerque. First constructing a 500,000 SF Dick’s in the market. NanoFab building for a coalition Population 863,887 Population 859,707 of companies including Global • Chipotle opens in northeast Foundries, IBM, Intel, Samsung Albuquerque. First of several and Taiwan Semiconductor locations planned for the Manufacturing Company. Households 333,497 market. Households 358,803 • Trader Joes announces the Household • Planet Fitness opens two opening of its first store in the Household Income $65,279 more locations in the ABQ / Income $73,105 Albany market, taking over and Average Rio Rancho market. Plans for Average renovating a former Office Max additional stores in Rio Rancho store. and Santa Fe.Employees (Total) 313,234 Employees (Total) 351,131 • Butternut Beer Brewery to • Multi-Family market has several acquire a 460,000 SF facility in new projects ready to break Cobleskill for new operations ground, including a 240 unit center. Unemployment 6.8% Unemployment Apartment complex and a 225 6.9% unit Senior complex both on the • Multi-Family market continues west side of ABQ. to dominate the real estate industry in the area with high • Albuquerque Public Schools demands and one of the lowestCONTACT is building a new elementary CONTACT vacancy rates in the US at school, new high school and around 3%. Coldwell Banker Commercial sports complex on west side, Coldwell Banker Commercial Las Colinas including a new 7,000 seat Prime Properties • Urban, Downtown Office space 4801 Lang Ave. N.E., Suite 100 football stadium. 621 Columbia St. continues to be the weakest Albuquerque, NM 87109 Cohoes (ALBANY), NY 12047 sector with blended vacancy (505) 897-7227 (518) 785-9000 rates climbing to 22.4%. www.lcrealty.com www.coldwellbankeralbany.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  35 Rental Rates  Rental Rates 
  • 36. NY - New York NV - Reno / Sparks MSADEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS NY-Northern • The New York City business • I-MAX Theaters and Lowes Reno-Sparks, CBSA NJ-Long district Office market ended the CBSA comes to Sparks Marina. NV Island fourth quarter 2011 with the vacancy rate of 8.5 percent. Net • Urban Outfitter completed new absorption for overall New York Square Miles 6,606 space in Reno. Square Miles 6,726 City office market was a positive 1,000,478 SF. • Industrial absorption is at the highest level since 2006. Population 19,124,092 • The average quoted asking Population 420,676 rental rate for available space, • This market is experiencing all classes, was $47.34 per stabilization of base lease rates rentable SF; this represented a in Office and Industrial. Households Households 164,527 7,086,346 2% increase in quoted rental rates from the end of the third • Alexandria Apartments is 70% quarter. Household complete. Household Income $95,352 Income $79,751 Average • A few of the top Office lease Average • Apartment rates increased and transactions for 2011 were vacancy rates decreased for 9 Condé Nast publications for straight quarters.Employees (Total) Employees (Total) 208,488 7,711,074 1,046,260 SF; Nomura Securities International for 901,181 SF and Li & Fung for 482,399 SF. Unemployment Unemployment 11.9% 8.2% • The New York City Retail vacancy ended the fourth quarter at 1.9%, with net absorption at 125,302 SF. Retail rental rates have trended downCONTACT over the past 10 quarters. CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Hunter Realty Clay & Associates 1430 Broadway, 9th Floor 5011 Meadowood Mall Way, Suite 201 New York, NY 10018 Reno, NV 89502 (212) 201-0260 (775) 829-5900 www.cbchunterorg.com www.cbcreno.comOFFICE RETAIL OFFICE RETAIL Vacancy   Vacancy   Vacancy  Vacancy  Absorption   Absorption   Absorption  Absorption  Rental Rates   Rental Rates   Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy N/A Vacancy   Vacancy  Vacancy  Absorption  N/A Absorption   Absorption  Absorption  Rental Rates  N/A Rental Rates   36 Rental Rates  Rental Rates 
  • 37. NC - New Hanover County NC - Outer BanksDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Wells Fargo Advisors • The economy of the Outer CBSA Wilmington, consolidated offices to Mayfaire. CBSA Kill Devil Hills, Banks area of North Carolina NC NC continues to be reliant • Whole Foods begins upon the tourist community construction on first store in and associated demand: Square Miles 1,924 Square Miles 384 Wilmington area. accommodations and food service, retail trade, and real • New 36,000 SF building begins estate sales and rentals. Population 357,853 construction and is 100% pre- Population 34,403 leased. • Dare County building permit values showed a 24% increase • Coldwell Banker Commercial from 2010. Notable new Households 151,270 Sun Coast Partners’ Team Households 14,352 commercial projects in 2011 Silivanch leads the market in included a 158,000 SF Lowes Household Retail leasing. Household and two new regional banks: Income $65,863 Income $76,503 First Bank and Towne Bank of Average • Retail rental rates have Average Currituck. stabilized and have had a slow turn upward over the last six • Occupancy receipts for theEmployees (Total) 126,764 months. Employees (Total) 15,324 Outer Banks counties showed promising increases from • Investor interest is strong from 2010, even with the impact of outside of the market. Hurricane Earl just before Labor Unemployment 9.7% Unemployment 15.7% Day weekend. • Retail receipts continued a modest decline in 2011. Retail and food and beverage receiptsCONTACT CONTACT were severely impacted by Hurricane Earl in August and Coldwell Banker Commercial Coldwell Banker Commercial September. Sun Coast Partners, LLC Seaside Realty 1430 Commonwealth Dr., Suite 102 4900 N. Croatan Hwy. • Sales of existing homes Wilmington, NC 28403 Kitty Hawk, NC 27949 continued to be flat, but steady. (910) 350-1200 (252) 255-6596 Buyers are taking advantage of www.cbcsuncoast.com www.cbcworldwide.com the continued decline of median home prices, lower interest rates and the available inventory of resort and retirement homes.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy N/A Vacancy  Absorption  Absorption  Absorption N/A Absorption  Rental Rates  Rental Rates  37 Rental Rates N/A Rental Rates 
  • 38. NC - Research Triangle NC - Winston-SalemDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Vacancy fell from 16.18% to • Caterpillar is opening in 2012. Raleigh-Cary, Winston- CBSA 15.64% across all property CBSA Salem, NC NC types. • Class A Office remains strong. Class B still suffers from a 22% Square Miles 2,116 • There is a trend for Office and Square Miles 1,462 vacancy rate. Flex users wanting to buy space rather than lease. • Two new community based hospitals are scheduled for Population 1,143,659 • Other than 2 hospital Population 487,010 construction starting in 2012. expansions, there has been no new construction. • Eastern Beltway Loop timeline has been moved up. Households 452,721 • Downtown Raleigh remains Households 201,455 the strongest submarket and • Major furniture manufacturers Household Research Triangle Park has the Household are looking at Davie County. Income $78,408 highest vacancy. Income $65,788 Average Average • Winston-Salem Downtown • There are a few submarkets Research Park to open new reporting increases in Class A building for research and start-Employees (Total) 441,442 Employees (Total) 185,107 ups this spring. Office rents. • Multi-Family is the strongest investment category with Class Unemployment Unemployment 8.0% 9.1% A Apartments trading at sub 5 cap rates.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial TradeMark Properties Triad, Realtors 1001 Wade Ave., Suite 300 285 S. Stratford Rd., Suite 351 Raleigh, NC 27605 Winston-Salem, NC 27103 (919) 782-5552 (336) 761-5934 www.cbctmp.com www.cbctriad.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  38 Rental Rates  Rental Rates 
  • 39. ND - Fargo / Moorhead OR - PortlandDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Commercial vacancy within each • Western North Dakota’s oil Portland Fargo, ND- patch has boosted the Fargo/ sector decreased in the 4th Qtr CBSA CBSA Vancouver- MN Moorhead market, as well as Beaverton, 2011. Industrial vacancy lowered the state of North Dakota’s OR-WA to 8% while Retail showed a economy. slight improvement to 5.4%. Square Miles 2,810 Office remains in double digits at Square Miles 6,684 10.4%. • Agriculture in the Red River Valley has been strong and • In 2011, Wilsonville Old Town Population 202,280 commodity prices remain high. Population 2,261,246 Square, which is now 94% • Sanford Health unveiled plans occupied, delivered 250,000 SF for a 300-bed, state-of-the-art, including a 145,000 SF space for Households 86,119 new hospital that will employ Fred Meyer. Households 878,239 2,700. • In the Office sector, Cap Rates Household • Microsoft’s Fargo campus increased in 2011, averaging 8.2% Income $67,293 Household Average continues to expand in the Income $73,445 compared to the same period in market due to the educated Average 2010 when they averaged 7.78%. workforce.Employees (Total) 105,993 • Two of the largest Office projects • Costco announced plans to Employees (Total) 952,611 underway at the end of 2011 break ground in 2014, which include a fully pre-leased 135,000 shall spur development along SF FBI Building and a 98% pre- Unemployment 3.7% I-29 in Fargo. leased Meier & Frank Building Unemployment 8.1% consisting of 133,000 SF. • In the fourth quarter of 2011, the Multi-Family sector had • Georgia-Pacific, LLC relocated a 4.3% vacancy rate, spurring from Marine Drive Center to a larger 275,000 SF facility at theCONTACT investors to build more CONTACT I-5 Logistics Center in Wilsonville. apartments. Coldwell Banker Commercial Coldwell Banker Commercial Mountain West Real Estate, LLC • Portland’s increasingly tight First Realty 2731 12th Ave. S. 2545 SW Spring Street, Suite 200 Multi-Family market has Fargo, ND 58103 Portland, OR 97219 motivated developers to start (701) 237-3369 (503) 227-2934 building especially targeting www.cbcworldwide.com www.cbcre.com areas closer to the city’s core with high demand and mass transit capabilities.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  39 Rental Rates  Rental Rates 
  • 40. OR - Salem PA - CentralDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Approximately 70 transactions • Home Goods moved into the York-Hanover, CBSA Salem, OR in the major commercial sectors CBSA Manchester Crossroads. PA occurred in 2011, totaling nearly $136 million in the • Throughout the central Square Miles 1,925 Salem-Keizer market. Square Miles 904 Pennsylvania market, vacancy has begun to fall. The one • Vacancy rates remained stable exception would be the Harrisburg with no large swings finishing Office market, but it has been Population 399,131 the year with 6.8% in Office, 6% Population 430,707 speculated that too should begin in Retail and 8.6% in Industrial/ to see improvement in the second Flex. quarter of 2012. Households 148,354 Households 169,750 • The largest commercial sales • As with the rest of the country, it in the area were Multi-Family is less expensive to buy existing Household complexes, with the exception Household buildings rather than build. Income $61,094 of Capitol City Business Income $65,260 Changes are on the horizon as Average Center that was purchased by Average developers are looking for sites. A Government Properties Income new shopping center in Lancaster Trust. was announced and more are onEmployees (Total) 119,269 Employees (Total) 168,402 the way. • Average marketing times ranged from 19 months to over • The residential market is beginning 24 months. to see activity. Prices are expected Unemployment 9.2% Unemployment 7.1% to stabilize in the second quarter • Cap rates increased throughout central Pennsylvania. approximately one percent from 7.4% in 4Q 2010 to 8.6% at the • The area is ready for expansion in end of 4Q 2011. all areas.CONTACT CONTACT • Tourism is big business in central Coldwell Banker Commercial Coldwell Banker Commercial Pennsylvania. Hershey has its Mountain West Real Estate, LLC Bennett Williams amusement park. Dauphin 960 Liberty St. S.E., Suite 250 110 N. George St., 4th Floor County is the state capital. Both Salem, OR 97302 York, PA 17401 Lancaster and York were, at one (503) 588-3508 (717) 843-5555 time, capitols of the United States. www.cbcre.com www.bennettwilliams.com Reading, (Berks County), is known as the outlet capitol of the world.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  40 Rental Rates  Rental Rates 
  • 41. PA - Northeastern PA - SouthwesternDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Scranton- • The market has seen increased • Marcellus Shale related Pittsburgh, CBSA Wilkes-Barre, activity due to Marcellus CBSA companies are moving into the PA PA Shale Industry (Wyoming, area. Susquehanna, Pike & Wayne counties). Square Miles 5,280 • Industrial buildings, Square Miles 1,747 Warehouses, Flex-Space are • The Commonwealth Medical being sold and/or leased to College (TCMC) is still in the drilling companies. Population 549,920 initial stages of development in Population 2,355,582 Scranton. • The occupancy rate for Office space in the area is higher than • There is increased activity the national average, and the Households 991,049 Households 233,775 around Mohegan Sun Casino. vacancy rate is lower than the national average. • Stable local real estate Household Household Income $58,775 economy; median home prices Income $69,762 Average falling slightly. Average • Revitalization of downtownEmployees (Total) 245,015 Scranton is taking place. Employees (Total) 1,064,896 • Residential foreclosures have created a slight demand for Unemployment Unemployment 6.6% 8.5% more lease opportunities. • New movie theatre in downtown Wilkes-Barre has rejuvenated the area andCONTACT the $25 million Intermodal CONTACT Transportation Center will add Coldwell Banker Commercial 752 parking spots, making the Coldwell Banker Commercial Town & Country businesses along Public Square NRT - Pittsburgh 651 Northern Blvd. more accessible to patrons. 9600 Perry Hwy., Suite 200 Clarks Summit, PA 18411 Pittsburgh, PA 15237 (570) 587-5500 (412) 548-1064 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  41 Rental Rates  Rental Rates 
  • 42. SC - Charleston SC - ColumbiaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Charleston- • TIG HITCO, an aviation supplier, • Amazon opened a 1,253,748 SF Columbia, North took 150,000 SF. CBSA distribution facility in 4Q 2011 CBSA SC Charleston, that is 100% occupied. SC • Pent up demand has caused the absorption of vacant space and Square Miles 3,701 • Aside from Amazon, there was there has been no new major very little new construction Square Miles 2,591 developments. delivered in 2011. Retail led the way with a 4th quarter total of • There is new construction in Population 751,082 389,889 SF. Population 665,272 Medical buildings. • 8 out of 10 (80%) residential • In the residential market, sales builders in 2008 are out of are stabilizing and there is Households 300,796 business. Households 262,007 new growth in homes under $300,000. Household • Columbia is home to Ft. Jackson, Household Income $67,472 the University of South Carolina Income $72,395 • There is an increase in overall Average and the State Capital. Average demand with good financing terms helping sales. Employees (Total) 287,817Employees (Total) 253,170 • Boeing settled NLRB labor dispute and will deliver it’s first Charleston 787 in the Spring to Unemployment 8.0% Air India. Unemployment 7.9%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Atlantic International, Inc. United, Realtors 3506 W. Montague Ave., Suite 200 1711 Gervais St., Suite 300 North Charleston, SC 29418 Columbia, SC 29201 (843) 744-9877 (803) 799-4663 www.cbcatlantic.com www.cbccarolinas.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy N/A Absorption  Absorption  Absorption  Absorption N/A Rental Rates  Rental Rates  42 Rental Rates  Rental Rates N/A
  • 43. SC - Greenville / Spartanburg SC - Myrtle BeachDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Greenville- • Amazon announced a $50 million Myrtle Beach- • New Target superstore with CBSA Mauldin investment for a 1 million SF Conway- PetSmart at Rt 17 and Rt 554. CBSA Easley, SC fulfillment center, creating up to North Myrtle 800 new jobs. Beach, SC • This area is experiencing a slow down in the economy and high Square Miles 2,002 • 175,000 SF Class A Office unemployment. Square Miles 1,134 development on Greenville’s Main St. will include: Haynsworth • Ross and hhgregg have recently Population 644,419 Law firm and the headquarters built in the market. for newcomer Certus Bank. Population 266,384 Additional downtown • The market is seeing continued construction includes 90,000 SF decline in values and working Households 263,044 Mixed-Use development. through foreclosed inventory. Households 110,858 • Educational and Research • There is little new construction Household initiatives abound in support in Residential and Multi-Family. Income $64,851 Household Average of demand for trained workers. Income $54,792 Greenville is now home to Average • Coastal Carolina University Clemson MBA Program in hires new football coach whichEmployees (Total) 288,021 addition to Clemson University may lead to growth in student International Center for Employees (Total) 112,291 enrollment. Automotive Research, (CU;ICAR), Greenville Tech., ITT, and ECPI. • Retail sales and Resort tourism Unemployment 8.2% Recent announcements also from remain strong and steady. Unemployment 11.6% USC and MUSC. • TD Bank completed acquisition of South Financial and announcedCONTACT regional operational center with CONTACT accompanying job growth. BMW Coldwell Banker Commercial will have another expansion with Coldwell Banker Commercial Caine BMW supplier ZF announcing a Chicora 117 Williams Street 950,000 SF manufacturing facility. 10225 N. Kings Hwy. Greenville, SC 29601 Myrtle Beach, SC 29572 (864) 250-2800 • Seven new Apartment downtown (843) 272-8700 www.cbccaine.com www.cbcommercialchicora.com and suburban projects are scheduled, totaling 1,200 units.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  43 Rental Rates  Rental Rates 
  • 44. SC - Sumter TN - Chattanooga / North GADEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Continental Tire announces • Wacker Chemie AG began CBSA Sumter, SC $500M tire manufacturing facility CBSA Chattanooga, construction on a fully in Sumter, the largest Industrial TN-GA integrated polysilicon investment ever made in the production site which will create county. 10-year economic impact 650 permanent jobs and invest Square Miles 665 Square Miles 2,089 is projected to be $1.82 Billion $1.5 billion. and nearly 6,000 new jobs. • Amazon opened two fulfillment Population 104,624 • Third Army Headquarters Population 526,490 centers, creating over 1,300 relocation from Fort McPherson new jobs and $135 million in in Atlanta to Shaw Air Force Base investment to the area. With 3 in Sumter is nearly complete as facilities in Tennessee, Amazon Households 39,583 troops occupied the new $100M Households 211,265 has created 3,300 jobs and facility late last year. 1,400 new more than $270 million in Household military personnel and their Household investment in the state. Income $57,912 families will be a huge boost to Income $62,455 Average the Sumter market this year. Average • Whirlpool replaced an existing 100-year old manufacturing • Au’some Candy opens plant in 1st plant with a new LEED-certifiedEmployees (Total) 33,348 Qtr 2012. The Hong Kong based Employees (Total) 208,265 facility. The new facility will add candy company’s $6M investment 130 new jobs at an investment is their first North American of $120 million. facility and will generate 120 new Unemployment 10.3% Unemployment 7.3% jobs over the next 5 years. • Residential rental market is booming in the area. • Multi-Family sector continues to be underserved and ripe for • Volkswagen continues to development. Vacancy rates expand their workforce byCONTACT remain low and several Multi- CONTACT adding 300 new jobs this year. Family properties have waiting Coldwell Banker Commercial lists. Coldwell Banker Commercial Cornerstone Hamilton & Associates 38 N. Main St. • Overall sales and leasing activity 2650 Peerless Rd. N.W. Sumter, SC 29150 is up in the first quarter after a Cleveland, TN 37312 (803) 778-1139 slow 2011. Steady improvement (423) 476-5535 www.cbccornerstone.com is expected throughout 2012 www.hamiltoncommercial.com based on Industrial and military job creation.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  44 Rental Rates  Rental Rates 
  • 45. TN - Knoxville / East Tennessee TX - AustinDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Costco has purchased 21 acres • A pair of buyers acquired Austin-Round CBSA Knoxville, TN in West Knoxville (Farragut) for CBSA three buildings, totaling Rock, TX $5,500,000. approximately 508,112 SF, in two separate transactions for Square Miles 1,857 • Vacancy rates seem to have Square Miles 4,224 approximately $95 million. stabilized in all sectors as the economy starts to improve. • A 1,026-bed student housing community, located just one Population 702,994 • A Publix/Wal-Mart development Population 1,730,983 block from the University has been announced on a of Texas, was acquired in site next to the campus of the December 2011 for $86.2 University of Tennessee. million. Households 297,456 Households 665,762 • The residential market is still • The Industrial market is Household declining but seems to be Household increasing its footing in stable Income $64,861 stabilizing. Number of units sold Income $74,027 territory. Absorption improved Average and volume is down, but not as Average significantly with 465,975 SF in sharply as a year ago. the fourth quarter 2011.Employees (Total) 307,125 • Retail development seems Employees (Total) 622,577 • Fourth quarter 2011 marked ten to be the strongest segment quarters in a row of positive net with at least 5 developments absorption for Austin’s Office already underway or recently leasing market, ending the Unemployment 6.4% Unemployment 6.3% announced. fourth quarter with 275,900 SF of positive net absorption. • Knoxville has been ranked 9th in Forbes’ 2011 “Best Cities for • Forecasted job growth in Jobs.” 2012 leads to expectations ofCONTACT CONTACT plunging Apartment vacancies and rising rental rates. Coldwell Banker Commercial Coldwell Banker Commercial Wallace & Wallace, Realtors United, Realtors • Another residential tower is 124 N. Winston Rd. 2121 Sage Rd., Suite 150 planned for downtown Austin. Knoxville, TN 37919 Houston, TX 77056 The 23-story, 320-unit complex (865) 690-1111 (713) 840-5000 will include “significant” Retail www.cbcww.com www.cbcunitedrealtors.com space.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  45 Rental Rates  Rental Rates 
  • 46. TX - Bryan / College Station TX - CentralDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Houston- • Multi-Family remains strong • Domestic immigration San Antonio, CBSA Sugar Land- with recent projects including CBSA continues to increase, and TX Baytown, TX Campus View, a 1,600-bed legal immigration from Mexico project; Cottage Homes, an remains robust. Texas and San Aspen Heights Project; and an Square Miles 7,340 Antonio continue to lead the Square Miles 8,928 addition to the Calloway Villas. nation in new job creation. • Hotel redevelopment is also • The market is seeing continue Population 5,937,339 very strong in the Bryan- Population 2,093,608 absorption of existing space in College Station market. Four all disciplines. Seasons purchased the former Holiday Inn; the Former Plaza • Very limited new construction Households 749,986 Households 2,084,052 Hotel has been purchased projects, due to lack of available and planned Mixed-Use credit. Household development, including student Household Income $87,941 housing and Retail, is expected; Income $69,352 • Residential market remains Average and the former Aggieland Inn is Average stable with a 3% annual rise under contract. in new home sales. Home prices remain stable to slightly Employees (Total) 730,244Employees (Total) 2,246,860 • New Retail development is increasing, and new home strong along the Greensprairie inventory is well managed and Corridor. remains at about a 6 month inventory. Unemployment Unemployment 6.8% 5.5% • Scott & White Hospital, a 100-bed facility, is under • Leasing activity has become construction and planned for more robust, while acquisitions 2013 opening. remain slow.CONTACT CONTACT • Federal spending remains active in the San Antonio area. Benefits Coldwell Banker Commercial Coldwell Banker Commercial range from Military retirees United, Realtors Alamo City locating here as well as new 2121 Sage Rd., Suite 150 18756 Stone Oak Pkwy, Suite 202 projects nearing completion, Houston, TX 77056 San Antonio, TX 78258 such as the National Security (713) 840-5000 (210) 483-6250 Agency. A recent Oil & Gas www.cbcunitedrealtors.com www.cbcalamo.com development in adjacent counties has brought Oilfield Companies such as Halliburton.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  46 Rental Rates  Rental Rates 
  • 47. TX - East TX - HoustonDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Weatherford combined 5 of Houston- • Houston is the first major CBSA Longview, TX their operations under 1 roof. CBSA Sugar Land- metropolitan region to regain Baytown, TX all the jobs it lost in the • There has been steady interest recession, adding about 76,000 Square Miles 1,785 in the market due to oil/gas jobs last year, according to the Square Miles 8,928 activity in the region. Texas Workforce Commission. • Office/Warehouse demand is • Shell has renewed a 15-year Population 208,154 still positive. Population 5,937,339 lease for 804,491 SF in One Shell Plaza and 471,934 SF in • Residential activity increased Two Shell Plaza, a combined over prior year. 1.22 million SF of Office Households 81,170 Households 2,084,052 space, the largest Office lease • Absorption of existing Office/ transaction in the world in 2011. Household Retail is improving. Household Income $65,286 Income $87,941 • Multi-Family continues to be Average • This area has relatively low Average attractive to investors: Mosaic unemployment compared to Residential Inc. purchased the many other areas. 274-unit Westborough CrossingEmployees (Total) 79,368 Employees (Total) 2,246,860 Multi-Family complex in Katy for $12.9 million. • A study released by PWC Unemployment 5.9% Unemployment 5.5% ranked Houston #1 in the world in terms of cost of living advantage and purchasing power.CONTACT CONTACT • Oil prices continued their upward movement, reaching Coldwell Banker Commercial Coldwell Banker Commercial $95-$100/barrel. Lenhart Properties United, Realtors 304 E. Loop 281, Suite C 2121 Sage Rd., Suite 150 • Houston named “City of Longview, TX 75605 Houston, TX 77056 the Year” by Fast Company (903) 297-1444 (713) 840-5000 because of small business and www.cbcworldwide.com www.cbcunitedrealtors.com entrepreneurial attraction.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  47 Rental Rates  Rental Rates 
  • 48. TX - Lubbock TX - Victoria CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The Lubbock Economic Index • Burk’s Outlet, Shoe Dept., CBSA Lubbock, TX finished the year on an upward CBSA Victoria, TX Encore and Pier One Imports trend, increasing for each of the open for business. last three months, and five of Square Miles 1,799 the last seven months. Square Miles 2,248 • Eagle Ford Shale and Caterpillar draw people to the area. • Real spending in Lubbock was solid in the 4th quarter of 2011, • 244-unit market rent Apartment Population 279,239 with inflation-adjusted taxable Population 115,980 complex was constructed. Retail spending per Lubbock sales tax receipts in the 4th • There is less than six months in quarter up 6.5% compared to housing inventory in the market. Households 111,087 Households 41,805 the fourth quarter 2010. • Housing demand increases Household • There was no employment Household while inventory decreases Income $57,245 sector that lost jobs in 2011; Income $66,662 and new home construction is Average even the government sector Average lagging behind demand.. grew by nearly 2% year-over- year.Employees (Total) 101,281 Employees (Total) 41,963 • The December 2011 unemployment for the South Plains was 5.5 percent, with the Unemployment 5.3% Unemployment 5.8% Lubbock unemployment rate at 5.3 percent. • Lubbock will start off 2012 with a $4.1 million sales taxCONTACT distribution payment. That CONTACT figure is 6.2 percent higher Coldwell Banker Commercial than the $3.8 million the city Coldwell Banker Commercial Rick Canup, Realtors received in January 2010. The Ron Brown Company 4924 S. Loop 289 2505 N. Navarro St. Lubbock, TX 79414 • Texas Tech has completed the Victoria, TX 77901 (806) 793-0888 $70 million, 150,000 SF Jerry (361) 573-6191 www.cbclubbock.com Rawls College of Business www.cbcworldwide.com building for the Spring semester.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  48 Rental Rates  Rental Rates 
  • 49. UT - Salt Lake City VA - LynchburgDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Adobe, Goldman Sachs, EMC, • Lynchburg continues to hold on Salt Lake Lynchburg, CBSA Microsoft, eBay, Crate & Barrel, CBSA to larger tenants due mostly in City, UT VA North Face and Marshall’s have part to the steady economy in entered the market. this area. Square Miles 9,539 Square Miles 2,124 • Utah has one of the lowest • Vacancy rates are continuing to corporate tax rates in the slowly fall due to several smaller country. tenants branching out to the Population 1,140,107 Population 248,585 Central VA area. • City Creek, the impressive downtown Salt Lake City • New construction is slowly redevelopment project with creeping up and new additions/ Households 376,706 Households 100,680 the LDS Church and Taubman alterations are remaining steady. Company is scheduled to open Household March 2012. Household • Developers are taking Income $82,120 Income $58,652 advantage of the various tax Average • For the second year straight, Average credits, and therefore many Forbes Magazine has listed Utah adaptive, re-use projects are as “the Best State in the Country taking place in the downtownEmployees (Total) 567,447 Employees (Total) 96,796 for Business and Careers.” market. • In spite of a difficult lending • Investors are starting to favor environment, a significant Multi-Family developments Unemployment 5.4% Unemployment 6.5% number of building projects more now than in the past when launched in Utah’s Office CRE was the main focus. market. Speculative development is back. • This area is becoming more attractive to outside developers/CONTACT • Vacancy rates overall are CONTACT investors mostly due in part to decreasing. Net absorption is the various incentives the city Coldwell Banker Commercial up and lease rates remain the Coldwell Banker Commercial offers to revamp the downtown NRT - Salt Lake City same but are a lagging market Read & Co. market. 6550 S. Millrock Dr., Suite 200 indicator. 2508 Langhorne Rd. Salt Lake City, UT 84121 Lynchburg, VA 24501 (801) 947-8300 (434) 455-2285 www.coldwellutah.com www.cbcread.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  49 Rental Rates  Rental Rates 
  • 50. WA - Clark County WA - King CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The Columbia River Crossing - the • Overall sales and leasing of Portland Seattle Vancouver- new I-5 Bridge (which is in the CBSA Tacoma Office and Industrial properties CBSA final planning stage) - will connect Beaverton, Bellevue, WA are picking up. OR-WA Vancouver, WA with neighboring Portland, OR. It is anticipated • The Multi-Family sector is still that the new bridge will boost the Square Miles 5,894 very strong. Rental rates are Square Miles 6,684 regional economy and directly predicted to increase for the benefit the Clark County business next 3-5 years. community through improved Population 3,433,786 Population 2,261,246 freight mobility. • Residential prices fell in 2011, and sales continue to improve. • In Spring 2012, Washington State University Vancouver will open the Households 1,373,207 • Boeing and other companies are Households 878,239 new Engineering and Computer experiencing a once in a lifetime Science Center – a $43.5 million, market. Companies are building Household 56,000 SF building. or moving into larger facilities. Household Income $86,419 Income $73,445 Average Average • Apartments continue to be a hot • King County is bordered by sector in the investment market. the Puget Sound to the West Cap rates remain strong in favor Employees (Total) 1,502,591 and the Cascade Mountains toEmployees (Total) 952,611 of sellers in the 6+% range. Low the East. People can do many interest loans in the 4+% range different activities such as are spurring sales. fishing, skiing, bicycling within Unemployment 7.2% an hour of where they live. King Unemployment 9.2% • It’s a buyer’s market for Land. County is one of the best places Commercial Land on major to live and work in the U.S. arterials is selling at 70% of its 2008 peak value, with residentialCONTACT Land selling at 50% of its 2008 CONTACT peak value. Coldwell Banker Commercial Coldwell Banker Commercial Jenkins-Bernhardt Associates • The Columbia River Economic Danforth & Associates 1500 D St. Development Council recently 33313 First Way S. Vancouver, WA 98663 released a 20 year plan call for Federal Way, WA 98003 (360) 699-4494 establishing Clark County as a (253) 874-3200 www.cbcworldwidenw.com regional center of growth and www.cbcdanforth.com innovation in the information technology sector.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  50 Rental Rates  Rental Rates 
  • 51. WA - South Puget Sound WA - TacomaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • In Retail, WinCo Foods and Trader Seattle • New Warehouse distribution CBSA Olympia, WA Joe’s have experienced good CBSA Tacoma centers include Amazon and success moving into the market. Bellevue, WA Brooks of 500k SF each. REI launch proved very successful, Square Miles 727 as well. The Office sector is still • Russell Company purchased the Square Miles 5,894 undergoing a correction as the WAMU building in downtown state of Washington consolidates Seattle, pulling the largest operations. private employer out of Tacoma. Population 253,654 Population 3,433,786 This is creating opportunities • Multi-Family stats are up for new tenants to occupy Class significantly as the rental market A space in Tacoma that was continues to improve as a result of previously unavailable. Households 100,414 foreclosures and short sales, which Households 1,373,207 account for 31% of the residential • Multicare, Franciscans and Household sales in this market. Group Health are all building Household Income $74,489 Income $86,419 aggressively to meet changing Average • Industrial vacancies continue Average needs in healthcare. to climb as contraction in the construction markets continues. • Vulcan project in South LakeEmployees (Total) 68,733 Employees (Total) 1,502,591 Union Seattle has over 1M SF of • Some notable properties have preleased Office. been foreclosed by creditors and are being marketed now. The • In Retail, re-tenanting big Unemployment 7.9% Unemployment Gateway project in Lacey, anchored 9.1% boxes currently is a focus, with by retailer Cabela’s, is a 200+ build-to-suits almost exclusively acre Mixed-Use development relying on sit-down food and that is receiving strong interest bank pads. from developers. Prices on land,CONTACT however, continue to soften. CONTACT • Boeing has over 7 years backlog on its books, so aerospace Coldwell Banker Commercial • The Residential markets are Coldwell Banker Commercial manufacturing/supply is in the Evergreen Olympic Realty, Inc. beginning to pick up. After Offenbecher rise. 3333 Capitol Blvd. S. reaching a bottom last winter, sales 101 S. Meridian Olympia, WA 98501 picked up steam as the year went Puyallup, WA 98371 (360) 352-7651 on. Around the Sound, 2011 sales (253) 840-5574 www.cbcworldwide.com www.offenbecher.com were up more than 7% over 2010.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  51 Rental Rates  Rental Rates 
  • 52. WI - Madison - INTERNATIONAL MARKETS DEMOGRAPHICS MARKET HIGHLIGHTSDEMOGRAPHICS MARKET HIGHLIGHTS • • Madison is Wisconsin’s state CBSA • CBSA Madison, WI capitol. • Amazon.com leased 205,000 Square Miles 2,738 SF as the largest Office lease in Square Miles 2011. • Office vacancy is decreasing Population Population 574,245 overall in the Madison area primarily because of bio-tech industry growth. Households Households 242,725 • The area has an abundance of highly skilled labor for manufacturing companies. Household Household Income Income $79,455 Average Average • There is large scale construction at the University of Wisconsin, plus bio-tech companies in Employees (Total)Employees (Total) 281,044 Madison and suburbs. • Residential market remains fairly solid, with low rental Unemployment Unemployment 4.7% vacancy rates and median sales prices slowly increasing. • Madison area is supported with excellent school systems. CONTACTCONTACT • There are also many housing Coldwell Banker Commercial options for company executives. , Success 7609 Elmwood Ave., Suite 102 Middleton, WI 53562 (608) 662-1110 www.cbcsuccess.com OFFICE RETAILOFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates  INDUSTRIAL MULTI-FAMILYINDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  52 Rental Rates  Rental Rates 
  • 53. Bermuda Canada - Ontario (Eastern)DEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • 141 Front Street, a showcase Belleville, • Kellogg’s leased 400,000 SF. CBSA Bermuda building in the City of Hamilton, CBSA Brighton, completed in September 2010, Quinte West • Industrial vacancy rates remain has been a huge success with relatively low based on little or Square Miles 21 75% occupancy. no new construction in the last Square Miles 372.14 m2 3-5 years. • Vacancy level in secondary space has increased due to • Little new construction in the Population 64,237 high level of new space on the Population 103,468 area. market at affordable prices. • The Residential sector is stable. • Waterloo House, approx 20,000 Households 34,110 • Vacant Land is starting to sell, SF of premier waterfront Households 45,214 property in Hamilton, is on track based on the possibility of new Household with completion expected in construction. Household Income $67,183 USD 2013; 40% is already preleased. Income $52,803 USD Average Average • This region is close to the US • Residential data for 2011 (gov’t markets and central to Ontario records) is incomplete, but it is with a stable and affordableEmployees (Total) 39,457 housing market. expected that 2011 sales totals Employees (Total) 48,760 will be similar to 2010 with average price of property lower. Unemployment 6.0% Unemployment • Slowly, more people are looking 6.33% to purchase in this market but with longer transaction times. • As an island destination,CONTACT foreigners often look to CONTACT purchase in Bermuda. It is Coldwell Banker Commercial expected that government Coldwell Banker Commercial Bermuda Realty will soon relax purchasing Ekort Realty 11 Par la Ville Rd. requirements for foreigners. 100 Bell Blvd., Suite 200 Hamilton, Bermuda HM HX Belleville, ON K8P 4Y7 (441) 292-1793 (613) 969-9901 www.bermudacommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption  Rental Rates  Rental Rates N/A 53 Rental Rates  Rental Rates 
  • 54. Canada - Greater Toronto Area Canada - Waterloo RegionDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Industrial vacancy continues • Business changes at Research Kitchener, CBSA Toronto, CA decline to approximately 7% CBSA ON (Waterloo in Motion affect the local Office with inventory of 800,000,000 Region) market, but substantial growth SF. at Google, Desire to Learn and many other technology Square Miles 2,279 Square Miles • Little new Industrial product has 528 companies help offset the been built in recent years. impacts. 300 new tech companies founded in 2011 and Population 5,583,064 • Office market is doing Population 543,700 450 startup jobs created. reasonably well. • Waterloo Region Council approved a new Light Rail Households 1,800,000 Households 194,890 Transit system, with an estimated cost of $818 million Household dollars. Household Income $63,500 USD Income $65,522 USD Average • Construction includes: a new Average $103 million dollar business school at Wilfrid LaurierEmployees (Total) 2,919,410 Employees (Total) 282,300 University, a new $74.3 million dollar campus for Conestoga College and three new buildings at the University of Waterloo Unemployment 7.2% Unemployment 6.4% totaling $88.3 million. • The Stephen Hawking Wing of the Perimeter Institute for Theoretical Physics and the newCONTACT CONTACT Balsillie School of International Affairs have opened. Coldwell Banker Commercial Coldwell Banker Commercial Integrity Real Estate, Brokerage Peter Benninger Realty, • Toyota built 458,000 vehicles at 1384A Cornwall Rd. Brokerage its two local plants. Oakville, ON L6J 7W5 508 Riverbend Dr. (905) 338-8877 Kitchener, ON N2K 3S2 • New Retailers such as Lowe’s, www.cbci.ca (519) 743-5211 Wal-Mart and Empire Theatres www.coldwellbankercommercial.ca open at The Boardwalk, a new 1,000,000 SF Office and Retail complex.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy N/A Vacancy  Vacancy N/A Absorption  Absorption N/A Absorption  Absorption N/A Rental Rates  Rental Rates N/A Rental Rates  Rental Rates N/AINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption N/A Rental Rates  Rental Rates N/A 54 Rental Rates  Rental Rates 
  • 55. Czech Republic FranceDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Siemens, Holesovice is a major • One very important and Czech CBSA Office development in the CBSA France re-occurring trend is the Republic region. preference for town-centre sites, but retailers will have to Square Miles 30,450 • European financial situation Square Miles 260,558 deal with the supply shortage reducing foreign direct and the high level of rents. investment. • Seeing that the population Population 10,500,000 • Retail Centre Krakov, consisting Population 63,100 will continue to have a hard of 29,000 m2, was recently time budgeting, the financial constructed. situation of retailers will be under pressure. This will make Households 2,500,000 • Residential market has been Households 23,008,000 retailers cautious and very stagnant in 2011. selective when choosing sites, Household Household leading to long and complex Income $32,000 USD • Some exposure to European Income €56,064 real estate negotiations. Average financial crisis but domestic Average companies are competitive and • The average price of new flats have good market share. in France continued to climb,Employees (Total) N/A Employees (Total) 26,053 going up by 6.5%. The price • This location in Central Europe increase in 2010 was essentially gives good access to high linked to the decrease in value markets such as Germany, lending rates and the low Unemployment 6.5% Unemployment 9.3% Austria and the Czech Republic. level of supply while demand remained high. According to developers, construction costs are expected to increase.CONTACT CONTACT • Market for new housing: the large share of investors were hit Coldwell Banker Commercial Coldwell Banker Commercial by changes in the tax regime Top Czech Partners Commercial s.r.o. France & Monaco and the elimination of certain Podebradska 88/55 8 rue Lamennais incentives. Many investors sold Prague, Czech Republic 190 00 Paris, N/A 75008 their Apartments because of +420 222 329 004 +33 1 83535353 this new law. Prices continue www.cbcommercial.cz to rise in Paris; and in regional markets, prices have tended to stabilize.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  55 Rental Rates  Rental Rates 
  • 56. Greece IrelandDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Greek market is open to • Twitter set up its European CBSA Greece investments and legislation CBSA Ireland headquarters in Dublin. is being simplified in order to favor investors and big • Vacancy rates are rising as Square Miles 50,949 construction projects. Square Miles 27,027 Nama is releasing more and more property on the market. • Vacancy is rising as the general economic activity is shrinking • There hasn’t been any Population 10,787,690 and enterprises, as well as Population 4,400,000 significant construction in this households, reduce their market. activities or move to smaller size spaces. • Prices continue to fall, but Households 3,664,392 Households 1,900,000 transactions are increasing very • New construction is limited modestly. Household due to new taxation on land Household Income €20,751 property. Private construction Income €35,000 • Market is still quite stagnant, Average activity in 2011 decreased by Average but commercial market 36.9% (10 months). expected to improve this year from overseas investment.Employees (Total) 3,901,269 Employees (Total) 2,100,000 • The residential market is at a standstill in anticipation of new • The area is experiencing the economic development policies. biggest property slump of any OECD country ever recorded. Unemployment 20.9% Unemployment 14.0% • Economic prospects are improving with recent efforts for market stabilization. • Excellent location for touristCONTACT and residential development. As CONTACT prices are becoming lower, new Coldwell Banker Commercial opportunities emerge for long Coldwell Banker Commercial Greece term investments. It’s a buyer’s Property Consultants 8 Omirou street & market. 2 Upper Fitzwilliam St. Panepistimiou Ave. Dublin, Co Dublin Dublin 2 Athens, Greece 10564 +353 1 4110012 +30 32 28228 www.coldwellbankercommercial.ieOFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  56 Rental Rates  Rental Rates 
  • 57. Mexico - Mexico City Perú - LimaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The Office market increased by • This market is seeing some new Mexico City, CBSA 10% compared with the 2010 CBSA Lima, Peru construction for residential and MX year end; absorption decreased commercial. by 25% while the average rent Square Miles 80 price remained the same. Square Miles 27 • The interest rate is falling. • Some of the most significant • The market is experiencing transactions in the Office growth and evolution of cities. Population 23,000,000 market: Ericsson Telecom Population 30,165,000 (184,000 SF) and Siemens • New infrastructure for tourism (176,000 SF). are in progress (new hotels) as well as new construction of Households N/A Households 6,033,000 Malls. • The total SF of Office buildings built in 2011 was 4.1 million SF Household and it is expected that over 3.1 Household • There are several projects in Income $31,000 MXN million SF will be built during Income $800 USD place involving the government Average 2012. Average to develop housing. • In the Industrial market,Employees (Total) 8,400,000 Employees (Total) 15,900,000 Bonafont leased a 333,000 SF facility near Mexico City. • During the last quarter of 2011, Unemployment 4.8% Unemployment 9.0% the Retail prices remained stable and the demand for commercial spaces grew. • Consumer recovery after theCONTACT latest financial international CONTACT crisis, along with the conceptual Coldwell Banker Commercial evolution in shopping centers, Coldwell Banker Commercial Mexico reposition Mexico beside Brazil Perú Montes Urales No. 415 and Colombia in the arena Av. Javier Prado 3361 San Borja Lima 1 Lomas de Chapultpepec of expanding potential Retail Lima, Perú L41 Mexico City, Mexico 11000 markets in Latin America. +51 13 462900 +52 55 41621000OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy N/A Vacancy  Vacancy  Absorption  Absorption N/A Absorption  Absorption  Rental Rates  Rental Rates N/A 57 Rental Rates  Rental Rates 
  • 58. Puerto Rico SpainDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Unemployment rate dropped • Public administration must CBSA Puerto Rico by 3% with positive job growth. CBSA Spain pay their debts within the established guidelines of 60 • Puerto Rico SBA loans up 36% days, not 400. Square Miles 3,400 with small business owners Square Miles 194,897 projected to absorb some • Labor reform is a priority, so vacant commercial lease units. each business sector is able to negotiate labor contracts on Population 3,725,789 • Puerto Rico government Population 41,000,000 a sector and local basis and is purchased the old Roosevelt incented to hire employees full Roads Naval Base on the time without excessive burdens east side of the island. The of severance pay for each year Households 1,181,112 Households 14,200,000 government invested $2.5 worked. Billion in the 8.654 acres to Household promote and sell Land for Household • The unemployment rate is 21% Income $27,017 USD commercial and residential Income $31,900 USD in Spain. Average projects. Average • The high unemployment rate • Agriculture Department and has had a negative impact onEmployees (Total) 689,086 Employees (Total) 23,800,000 Energy Affairs Administration the social climate and on the of Puerto Rico invested over unemployment compensation $3 Million in assisting local system within the social and US mainland investors in security economic framework. Unemployment 13.2% Unemployment 21.0% purchasing Land to develop solar and wind farm projects. • Local and National Government spending has exceeded • Puerto Rico legislature approves European guidelines. Act 113 of 2011, the law toCONTACT promote and develop the cruise CONTACT • The economic dependence on ship industry. 1.2 million tourist construction has created severe Coldwell Banker Commercial visited Puerto Rico in 2011. Coldwell Banker Commercial problems for bank liquidity and KF Real Estate Las Rozas labor unemployment. 530 Constitution Ave. • Puerto Rico legislature approves Playa del Sardinero 18 San Juan, PR 901 Act 3657, a Tax Incentive Las Rozas de Madrid, Spain 28290 (787) 433-0077 Law for individuals who buy +34 91 636 3780 www.cbcommercialpr.com commercial properties that produce trade, employment and goods in Puerto Rico.OFFICE RETAIL OFFICE RETAIL Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  Rental Rates  Rental Rates INDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy  Vacancy  Vacancy  Vacancy  Absorption  Absorption  Absorption  Absorption  Rental Rates  Rental Rates  58 Rental Rates  Rental Rates 
  • 59. INDEX BY MARKETAlachua County, FL 15 Montgomery, AL 4Albany (NY Capital Region), NY 35 Morris County, NJ 34Albuquerque Metro, NM 35 Myrtle Beach, SC 43Athens, GA 21 New Hanover County, NC 37Atlanta Greater MSA, GA 21 New Orleans, LA 29Atlanta MSA, GA 22 New York, NY 36Austin, TX 45 Northeastern, PA 41Billings, MT 33 Northern, NJ 34Bloomington / Normal, IL 25 Orange County, CA 9Boise, ID 24 Outer Banks, NC 37Bryan / College Station, TX 46 Port St. Lucie, FL 18Central, PA 40 Portland, OR 39Central, TX 46 Redding, CA 10Champaign / Urbana, IL 25 Reno / Sparks MSA, NV 36Charleston, SC 42 Research Triangle, NC 38Chattanooga / North GA, TN 44 Rowland Heights, CA 10Chicagoland, IL 26 Salem, OR 40Clark County, WA 50 Salt Lake City, UT 49Columbia, SC 42 San Diego, CA 11Danbury / New Haven County, CT 14 San Fernando / San Gabriel Valley, CA 11Deltona-Daytona / Ormond Beach, FL 16 San Francisco, CA 12Dothan, Houston County, AL 3 San Gabriel Valley North, CA 12East, TX 47 Savannah, GA 23Fairfield County, CT 14 South Puget Sound, WA 51Fargo / Moorhead, ND 39 South, FL 18Greene / Morgan / Putnam Counties, GA 22 Southern, KY 28Greenville / Spartanburg, SC 43 Southwest Riverside County, CA 13Honolulu, HI 23 Southwest, FL 19Hot Springs, AR 4 Southwestern, PA 41Houston, TX 47 Springfield Area, MO 32Humboldt County, CA 5 Springfield, IL 26Huntsville, AL 3 St. Cloud / Central, MN 31Inland Empire / Palm Springs, CA 6 St. Joseph, MO 32Inland Empire North / Victor Valley, CA 6 Sumter, SC 44Jacksonville, FL 16 Sussex County, DE 15Kansas City Metro Area, KS 27 Tacoma, WA 51King County, WA 50 Tampa / St. Petersburg, FL 19Knoxville / East Tennessee, TN 45 The Florida Keys, FL 20Kootenai County, ID 24 Vero Beach / Indian River County, FL 20Lafayette, LA 28 Victoria County, TX 48Lakeland / Winterhaven, FL 17 Western, CO 13Lincoln, NE 33 Winston-Salem, NC 38Little Rock, AR 5Los Angeles Westside, CA 7 INTERNATIONAL MARKETSLos Angeles, CA 7 Bermuda 53Louisville Metro, KY 27 Czech Republic 55Lubbock, TX 48 France 55Lynchburg, VA 49 Greater Toronto Area, Canada 54Madison, WI 52 Greece 56Manatee, Sarasota, Charlotte Counties, FL 17 Ireland 56Mankato, MN 30 Mexico City, Mexico 57Midcoast, ME 29 Ontario (Eastern), Canada 53Middle, MI 30 Peru 57Minneapolis / St. Paul Metro Area, MN 31 Puerto Rico 58Modesto, CA 8 Spain 58Monterey / San Benito Counties, CA 8 Waterloo Region, Canada 54Monterey Peninsula, CA 9Sources of InformationEach market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Varioussources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographicsand 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB)based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting.Unemployment numbers were taken from Bureau of Labor Statistics.
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