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  • 1. 2012Blue Book Coldwell Banker Commercial® Mid Year Market Review Check out the NEWMARKET SNAPSHOTS cbcworldwide.com
  • 2. About the CBC® Blue Book The CBC® Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals of the Coldwell Banker Commercial companies within the local markets. In total, the Blue Book contains over 130 markets. The Blue Book highlights one of the strengths of the Coldwell Banker Commercial organization: our national footprint. The CBC organization’s strong local market coverage combined with our global reach helps our clients obtain real-time market information in order to make informed real estate decisions.Sources of InformationEach market information comes from the CBC affiliate listed as the contact. Information is deemedfrom sources considered reliable. Various sources of the data include but are not limited to: CoStar,Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census.A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Managementand Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that aresocioeconomically tied to the urban center by commuting. Unemployment numbers were taken fromBureau of Labor Statistics.
  • 3. Table of ContentsAL - Birmingham 4 MI - Western 38AL - Dothan, Houston County 4 MN - Mankato 38AL - Montgomery 5 MN - Minneapolis/St. Paul Metro Area 39AK - Anchorage 5 MN - St. Cloud/Central 39AR - Hot Springs 6 MO - St. Joseph 40AR - Jonesboro 6 MS - Gulfport/Biloxi 40AR - Little Rock 7 MT - Billings 41AZ - Sedona/Verde Valley 7 NE - Lincoln 41CA - Arcadia 8 NV - Reno/Sparks 42CA - Inland Empire North/Victor Valley 8 NJ - Central 42CA - Los Angeles 9 NJ - Morris County 43CA - Los Angeles, Westside 9 NJ - Northern 43CA - Modesto 10 NM - Albuquerque 44CA - Napa Valley/Napa County 10 NY - Albany 44CA - Orange County 11 NY - Long Island 45CA - Redding 11 NY - New York City 45CA - Sacramento Greater Area 12 NC - Southeastern 46CA - San Gabriel/San Fernando Valley 12 NC - Triad Area 46CA - Southwest Riverside County 13 NC - Triangle 47CO - Western 13 ND - Fargo/Moorhead 47CT - Danbury/Upper Fairfield/New Haven 14 OH - Lorain County 48CT - Fairfield County 14 OK - Oklahoma City 48DE - Sussex County 15 OR - Portland 49FL - Brevard County 15 OR - Salem 49FL - Charlotte/Sarasota Counties 16 PA - Pittsburgh 50FL - Daytona/Ormond Beach, Volusia County 16 PA - Southeastern 50FL - Destin 17 PA - York/Lancaster/Harrisburg 51FL - Florida Keys 17 SC - Charleston 51FL - Gainesville 18 SC - Columbia 52FL - Indian River County 18 SC - Greenville/Spartanburg 52FL - Jacksonville 19 SC - Myrtle Beach 53FL - Lakeland/Winter Haven 19 SD - Rapid City 53FL - Melbourne/Brevard County 20 TN - Chattanooga Metro Area 54FL - Naples/Ft. Myers 20 TN - Knoxville/East 54FL - Orlando 21 TX - Abilene 55FL - Polk County 21 TX - Austin 55FL - Sarasota/Manatee/Charlotte Counties 22 TX - Bryan/College Station 56FL - Southern 22 TX - Dallas/Fort Worth 56FL - St. Lucie County 23 TX - Houston 57FL - Tallahassee 23 TX - Lubbock 57FL - Tampa/St. Petersburg 24 TX - Rio Grande Valley 58GA - Athens 24 TX - San Antonio 58GA - Atlanta 25 TX - Waco, McLennan County 59GA - Chatham County 25 UT - Salt Lake County 59GA - Columbus 26 VA - Lynchburg 60GA - Hinesville/Fort Stewart 26 WA - King County 60GA - Lake Oconee/Lake Sinclair 27 WA - South Puget Sound 61GA - Macon, Bibb County 27 WA - Tacoma 61HI - Honolulu 28 WA - Vancouver & Southwest 62ID - Boise 28 WI - Janesville/Beloit 62ID - Coeur d’ Alene 29 WY - Cheyenne Metro 63IL - Bloomington/Normal, McLean County 29IL - Champaign/Urbana 30 INTERNATIONAL MARKETSIL - Chicagoland 30 Bermuda 64IL - Madison/St. Clair Counties 31 Canada - Belleville 64IL - Peoria County 31 Canada - Greater Toronto Area 65IL - Sangamon County 32 Canada - Kelowna/West Kelowna 65IN - Delaware County 32 Canada - Nanaimo, BC 66KS - Garden City 33 Canada - Ottawa, Ontario 66KS - Kansas City Metro Area 33 Canada - Waterloo Region 67KY - Louisville Metro 34 Colombia - Cartagena 67KY - Southern 34 Greece 68LA - Acadiana 35 Ireland 68LA - New Orleans 35 Mexico - Mexico City 69ME - Midcoast 36 The Netherlands 69MD - Suburban 36 Turkey - Istanbul 70MA - Pioneer Valley 37 United Arab Emirates 70MI - Middle 37
  • 4. AL - Birmingham AL - Dothan, Houston CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Birmingham- • The construction of a new ballpark • New Medical College is under CBSA in Birmingham’s Southside has CBSA Dothan, AL construction with the first class Hoover, AL spawned a number of real estate admitting in August 2013. transactions in the Industrial sector. Square Miles 5,298 Also due in part to the new ballpark Square Miles 1,718 • Hotel occupancy rate remains high. development, the Central submarket experienced the largest amount of • Healthcare Industry drives the positive absorption in the Q2. Dothan economy and continues to Population 1,135,190 Population 143,295 grow. • Riverchase Galleria announced Von Maur department store is leasing • Cost of Living Index is one of lowest Households 451,751 187,000 SF and will be the fifth Households 57,785 in the nation. department store in the mall. • Southeast Alabama & Northwest Household • Birmingham is seeing more casual Household Florida announce mega site location. Income $55,642 dining enter the market. New Income $43,656 Median Median • Regional Airport offers hangers for restaurants like Which Wich, Lime Fresh Mexican Grill, Little Donkey, wide body aircraft.Employees (Total) 485,749 Tellini’s Italiano and Seasons 52 have Employees (Total) 58,833 either just opened or will open soon. • Chicago-based Accretive Health Unemployment 7.90% Services leased 21,000 + SF at The Unemployment 8.30% Forum Building. Accretive Health is new to Birmingham, and Birmingham was chosen over several other cities in the Southeast.CONTACT • Mercy Medical, a medical facility for CONTACT senior citizens, leased the 45,540 SF Coldwell Banker Commercial former Haverty’s Furniture Showroom Coldwell Banker Commercial Moore Company Realty in Irondale. Alfred Saliba Realty 2 Office Park Circle, Suite 110 410 North Shady Lane Birmingham, AL 35223 Dothan, AL 36303 (205) 871-2088 (334) 793-6600 www.cbcmcr.com www.alfredsalibacommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy n Vacancy n Absorption q Absorption p Absorption n Absorption n Rental Rates p Rental Rates p Rental Rates n Rental Rates n 4
  • 5. AL - Montgomery AK - AnchorageDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Montgomery, • Alabama heats up as the place to • In July of 2012, Cabela’s announced CBSA do business: Expansion of Mercedes CBSA Anchorage, AK plans to build a 100,000 SF store in AL in Vance; Expansion of Hyundai in Anchorage. New national retailers Montgomery; Expansion of Honda continue to have success moving into Square Miles 2,725 in Lincoln; Airbus to open its North Square Miles 26,379 the market, including Olive Garden American plant in Mobile. and Buffalo Wild Wings. • Office vacancy is stabilizing. Targeted • Anchorage Office market continues Population 367,157 Population 378,904 Retail is succeeding in their desired to have a low vacancy rate of 6.1%. demographics. Call volume has increased for all product types. • The Alaska market continues on its Households 147,017 Households 137,722 upward growth path • Restaurant and pub nears completion in downtown historic district. • Retailers are moving to better Household Household locations as their current leases Income $52,679 • Budget homebuilders in the finished Income $72,444 expire, creating new construction Median price range of $80/SF find traction. Median projects and leaving behind older vacant facilities.Employees (Total) 144,160 • With the expansion of Hyundai and Employees (Total) 162,368 its ancillary jobs created, there is • The Industrial market is tight optimism in the market. with vacancy - the only product available is less desirable facilities Unemployment 8.90% • Montgomery can become the natural Unemployment 6.90% due to ceiling height and electrical cargo break point for intermodal capabilities. product arriving in the Port of Mobile.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Moore Company Realty NRT - AK 121 Coosa St., Suite 250, 6550 South Millrock Dr. Montgomery, AL 36104 Suite 200 (334) 262-1958 Salt Lake City, UT 84121 www.cbcmcr.com (907) 694-4944 www.coldwellutah.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy n Vacancy n Absorption n Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates n 5
  • 6. AR - Hot Springs AR - JonesboroDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Hot Springs, • New tenants in the market include • NEA Baptist Hospital is building a CBSA TCBY and Orange Leaf. CBSA Jonesboro, AR new facility with new technology AR and a new health care model for • Foreclosures in commercial real Northeast Arkansas. Square Miles 677 estate in the area have remained Square Miles 711 minimal. • Arkansas State University is always expanding and was named in the • Two parcels of land are currently Best Colleges Regional Universities Population 98,888 under contract for the construction of Population 96,443 South 2012. two new hotels. • New restaurants are moving into Households 43,175 • More residential units have been sold Households 39,977 Jonesboro: Cheddar’s, Five Guys this year but the average price/unit Burgers, Buffalo Wild Wings and was reduced. Panera. Household Household Income $42,222 • The City of Hot Springs, along Income $42,931 • New stores are coming into Median with the Chamber of Commerce, Median Jonesboro: Academy Sports, is working on plans to further Kirkland’s and Sissy’s Log Cabin.Employees (Total) 32,750 the revitalization of the historic Employees (Total) 37,743 downtown. • Commercial sales and leasing activity Unemployment 7.60% through Q2 of 2012 have exceeded Unemployment 7.00% the year 2011 sales.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial RPM Village Communities 401 Section Line Rd., Suite F 2704 S. Culberhouse, Suite A Hot Springs, AR 71913 Jonesboro, AR 72401 (501) 520-4000 (870) 935-7800 www.cbcrpm.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy n Vacancy q Absorption n Absorption p Absorption n Absorption n Rental Rates n Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy N/A Vacancy n Vacancy q Absorption n Absorption N/A Absorption n Absorption p Rental Rates q Rental Rates N/A Rental Rates n Rental Rates p 6
  • 7. AR - Little Rock AZ - Sedona/Verde ValleyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Little Rock- • Welspun Corp. Ltd. announces $100m • Historic Oak Creek Canyon Resort North Little expansion of its pipe-manufacturing CBSA Flagstaff, AZ was sold and revitalized. CBSA Rock-Conway, facility in LR Port, adding 200 jobs. AR • Commercial vacancies are steady and • Southwest Power Pool celebrates Square Miles 18,617 trending downward. Square Miles 4,090 July grand opening of its new $62m, 190,000 SF Corporate Center in West • State is upgrading lighting in Sedona Little Rock. business corridor. Population 130,596 Population 690,456 • Custom Aircraft Cabinets doubles • Residential units sales are strong with employment and invests $6m in a 6-year low inventory. expansion/relocation to Sherwood Households 46,597 facility. • Sedona Hotel occupancy is up 10% Households 276,042 YTD for Q1 and Sedona Marathon up • Industrial market has 5th consecutive Household 20%. Household quarter of positive absorption. Income $52,993 Income $56,190 Median • Sedona internet inquiries are up 43% Median • Local developers announce Mixed- for Q1 of 2012. Use Mann Building project in CBD, Employees (Total) 48,137Employees (Total) 290,765 to include Multi-Family, Retail and Office. • Windstream Hosted Solutions opens Unemployment 8.30% Unemployment 6.60% 30,000 SF state-of-the-art data center in West Little Rock.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Hathaway Group First Affiliate 2100 Riverdale Rd., Suite 100 195 W. State Route 89A LIttle Rock, AR 72202 Sedona, AZ 86336 (501) 663-5400 (928) 282-4666 www.hathawaygroup.com www.cbsedonacommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy n Vacancy p Absorption p Absorption p Absorption n Absorption q Rental Rates n Rental Rates n Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy n Vacancy n Vacancy q Absorption q Absorption q Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates p 7
  • 8. CA - Arcadia CA - Inland Empire North/Victor ValleyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Los Angeles- • This market is experiencing slow Riverside-San • Macy’s, JCPenney and Fitness 19 are CBSA Long Beach- recovery for Commercial Real Estate. CBSA Bernardino- under construction. Santa Ana, CA Ontario, CA • Increase on BPO orders for banks & • Number of Multi-Family sales Q2 vs. Square Miles 4,850 investors. Square Miles 27,260 Q1 is up 26%. • This area is experiencing high • Increase in owner/users purchasing vacancy. vacant Industrial buildings. Population 12,935,173 Population 4,171,856 • Limited commercial lending is • Industrial tenants are relocating available. to similar or larger SF buildings; taking advantage of low rates, Households 4,288,080 Households 1,350,253 • There is a big gap between buyer & better locations &/or more suitable seller expectations. facilities. Household Household Income $60,485 • Buyers are still sitting on the fence. Income $52,845 • Office leasing activity is improving, Median Median there are signs of expansion from out of the area users with space requirements ranging from 1,000 SFEmployees (Total) 5,313,010 Employees (Total) 1,156,307 to 1,500 SF. • Office sector landlords are typically doing 1-3 year lease terms with Unemployment 10.30% Unemployment 12.60% minimal concessions and TI allowances with options at market.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial George Realty Real Estate Solutions 660 W. Huntington Dr. 15500 W Sand St., 2nd Floor Arcadia, CA 91007 Victorville, CA 92392 (626) 445-6660 (760) 684-8000 www.cbcworldwide.com www.cbcdesert.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy q Absorption q Absorption q Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy q Vacancy q Absorption q Absorption p Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates q Rental Rates p 8
  • 9. CA - Los Angeles CA - Los Angeles, WestsideDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Los Angeles- • Apple is opening a mega store in Los Angeles- • Strongest property sectors are CBSA Long Beach- Santa Monica, CA. CBSA Long Beach- Multi-Family, single-tenant NNN Santa Ana, CA Santa Ana, CA Investments, Medical Office and • Office market is tightening up, rates Industrial (due to the scarcity of the Square Miles 4,850 climbing slowly. Square Miles 4,850 product and ability to convert to creative Office uses). • Owner/user investment continues to remain strong. • The strongest sub-markets are Population 12,935,173 Population 12,935,173 the Santa Monica-Venice creative • Creative Office continues to attract corridors, Beverly Hills, West tenants. Hollywood and Brentwood. Households 4,288,080 Households 4,288,080 • Multi-Family market is very active and financing is readily available. Cap Household Household rates in A/B areas are 4%-5%; B/C Income $60,485 Income $60,485 areas range from 4.75%-6.5%. Median Median • A lot of cash is on the sidelines, much of it chasing similar productEmployees (Total) 5,313,010 Employees (Total) 5,313,010 – well located property with strong tenants and/or upside potential. Most Investors continue to be risk-averse Unemployment 10.30% Unemployment 10.30% and opt for lower returns on less risky Investments. • Developers are looking for opportunities to build with several- hundred-thousand SF of Multi-Family,CONTACT CONTACT creative Office and Mixed-Use developments in the pipeline, slated Coldwell Banker Commercial Coldwell Banker Commercial to come on line in 2014-2016. WESTMAC NRT - Los Angeles 1515 Sepulveda Blvd. 11999 San Vicente Blvd. • Single Family/Condo market is Los Angeles, CA 90025 Suite 100 (310) 478-7700 Los Angeles, CA 90049 trending upwards with more offer www.westmac.com (310) 820-6651 activity, more sales and shorter www.cbcworldwide.com marketing times.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption q Rental Rates q Rental Rates p Rental Rates p Rental Rates p 9
  • 10. CA - Modesto CA - Napa Valley/Napa CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Stanislaus County is located in • Napa City Council approved the CBSA Modesto, CA the Central Valley. Its county seat CBSA Napa, CA Downtown Specific Plan, making is Modesto, which is where many way for more favorable development people in the surrounding areas guidelines, options for downtown Square Miles 1,494 shop. Square Miles 754 living, more green areas, bike-friendly paths and the return of two-way • The major industry is AG-related, streets. employing approximately 18,000 Population 512,221 Population 135,273 people or 11.3% of the total • Developer Todd Zapolski purchased 160,000 people that are employed. the Napa Town Center. His proposed Unemployment varies based on the rejuvenation project is expected to Households 167,008 fact that most of the AG jobs are Households 52,057 attract more world-class retailers and seasonal. restaurateurs. Household • Shopping areas that are well located Household • Multi-Family Office vacancy rates in Income $49,395 have been attracting new tenants Income $72,042 the city of Napa have declined to Median Median with some major remodeling. Due to about 14%. lack of new construction, the vacantEmployees (Total) 140,743 space has been absorbed as needs Employees (Total) 60,343 • The total Industrial market in Napa arise. Kaiser Permanente built a major County consists of over 16 million hospital complex with Memorial SF, with a current vacancy rate of less Hospital making a major expansion. than 8%. Unemployment 15.80% Unemployment 7.80% • There have been major layoffs in • During the first six months of 2012, government sector based on tax the Up Valley (Calistoga, St. Helena assessments being lowered due and Yountville) Commercial real to downturn in real estate values. estate market saw a resurgence of Leveling out has occurred and all are sales and leasing activity.CONTACT hoping real estate prices will start to CONTACT rise in 2012. This will only come if the • Buyers, especially developers, Coldwell Banker Commercial unemployment in the area starts to Coldwell Banker Commercial appear to be coming back into the Vinson Chase, Realtor Brokers of the Valley commercial marketplace, eager to decline. 220- C Standiford Ave 1775 Lincoln Ave. make the most of attractive prices Modesto, CA 95305 Napa, CA 94558 (209) 577-2121 • Office and Retail are improving in (707) 224-8454 and low interest rates. www.cbcworldwide.com good centers and locations. www.napacommercialproperties.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy q Vacancy q Absorption n Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates p 10
  • 11. CA - Orange County CA - ReddingDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Los Angeles- • Office market has nearly 1,000,000 SF • Retail markets show surprising CBSA Long Beach- of positive absorption in Q2. CBSA Redding, CA resilience. Santa Ana, CA • Retail construction activity is still low • Vacancy rate is falling as shortage Square Miles 4,850 but starting. Square Miles 3,785 looms. • Orange County commercial activity is • Housing construction is starting up picking up. again. Population 12,935,173 Population 181,457 • Orchard Retail Center sells for $122 • Commercial foreclosures are slowing. million or $434/SF. Households 71,491 • Slow but positive absorption is seen Households 4,288,080 • A new Apartment development with in the Office market. 758 units will built by The Irvine Household Company in Tustin. Household • Industrial market is still lagging. Income $60,485 Income $45,729 Median • Orange County’s largest private Median companies posted their 3rd year of sales gains. Employees (Total) 53,468Employees (Total) 5,313,010 Unemployment 10.30% Unemployment 13.10%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Newport Beach C&C Properties 4 San Joaquin Plaza Suite 260 2155 Larkspur Lane, Unit A Newport Beach, CA 92660 Redding, CA 96002 (949) 644-1600 (530) 221-9638 www.cbcworldwide.com www.cbcnorthstate.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates p 11
  • 12. CA - Sacramento Greater Area CA - San Gabriel/San Fernando ValleyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Sacramento- • Greater Sacramento area commercial Los Angeles- • The area is experiencing heavy CBSA -Arden-Arcade- market is still very slow. Sales of CBSA Long Beach- investor and user activity due to low -Roseville, CA some small free-standing Retail Santa Ana, CA interest rates and low vacancy. properties have been picking up Square Miles 5,094 lately. Square Miles 4,850 • Look for lease rates and sales prices to jump in the next 6 months. • Office rents have stabilized. • Retailers are back and so is their Population 2,141,658 • There has been little to no new Population 12,935,173 appetite for large distribution space. construction in this area. • 1,700 upscale Apartments are • The 540,000 SF Palladio at currently under construction in Households 801,834 Households 4,288,080 Broadstone lifestyle center in Glendale. suburban Folsom is still under Household construction and is expected to be Household Income $61,184 completed 2013. Income $60,485 Median MedianEmployees (Total) 727,825 Employees (Total) 5,313,010 Unemployment 10.80% Unemployment 10.30%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Sacramento North County 730 Alhambra Blvd., Suite 150 801 N Brand Blvd., Suite 180 Sacramento, CA 95816 Glendale, CA 91203 (926) 447-5900 (818) 334-1900 www.cbcworldwide.com www.cbcnco.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy q Vacancy n Absorption n Absorption p Absorption n Absorption n Rental Rates n Rental Rates n Rental Rates p Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy N/A Vacancy q Vacancy q Absorption p Absorption n Absorption p Absorption p Rental Rates q Rental Rates p Rental Rates n Rental Rates p 12
  • 13. CA - Southwest Riverside County CO - WesternDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Riverside-San • The overall market continues to Grand • The healthcare system in the Grand CBSA Bernardino- stabilize with increased activity in all CBSA Valley is nationally renowned, highly Junction, CO Ontario, CA sectors. integrated, community-focused and unique to Western Colorado. The Square Miles 27,260 • Vacancy levels are stable across the Square Miles 3,328 Physician-created Health Plan boosts Office, Industrial and Retail markets. care quality, lowers costs and is touted as a National model. • Anti Gravity Sports is moving into Population 4,171,856 two major markets with over 70,000 Population 148,298 • Western Colorado is the Retail hub for SF. Western Colorado and Eastern Utah. The City of Grand Junction sales and • The unemployment rate remain at Households 60,317 use tax revenue increased by 1.7% from Households 1,350,253 12.5%, down from 15%, bringing June of 2011 to June 2012. The Sales optimism among business owners. and use tax revenues comprise more Household Household than 40% of the City of Grand Junction’s Income $52,845 • Land sales are on the rise with 93 Income $47,409 total revenues. Median acres recently sold in Lake Elsinore, Median CA for $1,500,000. • Western Colorado is a touristEmployees (Total) 1,156,307 Employees (Total) 54,564 destination. The area offers world renowned mountain bike trails, growing agri-tourism industry, and the largest concentration of vineyards and wineries Unemployment 12.60% Unemployment 9.40% in the state. The lodging taxes collected in Q2 of 2012 had an increase of 6.3%. • The new construction building permits are up more than 13% in the Q1 2012. City of Grand Junction building permitCONTACT CONTACT valuation is down in Q2 more than 18% compared to Q1 2012. However, year- Coldwell Banker Commercial Coldwell Banker Commercial to-date new construction permits are up Sudweeks Group Prime Properties, LLC more than 37% from June 2011. 27708 Jefferson Ave., Suite 201 2646 Patterson Rd., Suite B Temecula, CA 92590 Grand Junction, CO 81506 (951) 200-7683 (970) 243-7375 • Colorado Mesa University Campus www.cbcsuds.com www.grandjunctioncommercial.com continues to expand including a state- of-the-art learning facilities on 78-acres in the heart of Grand Junction.OFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy q Vacancy p Vacancy q Absorption q Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy N/A Vacancy p Vacancy n Absorption p Absorption N/A Absorption q Absorption n Rental Rates n Rental Rates N/A Rental Rates q Rental Rates n 13
  • 14. CT - Danbury/Upper Fairfield/New Haven CT - Fairfield CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Bridgeport- • LL Bean (16,000 SF) is the latest NNN Bridgeport- • Fairfield County’s Office market CBSA Stamford- tenant to take space at Danbury CBSA Stamford- ended the Q2 of 2012 with a vacancy Norwalk, CT Fair Mall. Others include: Forever Norwalk, CT rate of 14.0% up from 13.5% with net 21, Brio, Cheesecake Factory and absorption totaling negative 310,857 Square Miles 626 Dick’s Sporting Goods. Guidepost Square Miles 626 SF, compared with 68,806 SF in the Publications has leased 54,000 SF Q1. Vacant sublease space increased of Class A Office space at the Matrix to 850,551 SF up from 807,000 SF at Corporate Center, in Danbury, CT. Year End 2011. Population 904,874 Population 904,874 • Area vacancy rates are down due • Fairfield County’s available, vacant- in part to low supply, and an influx sublease space increased across the of commuting professionals is board from 2011 Year End. Office Households 336,733 Households 336,733 now redesigning neighborhoods went from 599,000 SF to 851,000 SF; in Brewster, NY. Key transportation Industrial from 74,000 SF to 81,000 SF Household outlets allow them to commute to Household and Retail from 16,000 SF to 21,000 Income $91,039 lower Fairfield County, New York City, Income $91,039 SF. Median DC and Boston; while enjoying a Median more affordable lifestyle. • Significant movements: Western CTEmployees (Total) 419,437 Employees (Total) 419,437 Healthcare Research Institute leased • New construction includes: $33.8m 15,000 SF of Office. Gamma Aviation / 95,000 SF Armed Forces Reserve leased 15,000 SF of Industrial. Terrain Center in Danbury, CT; Brookfield, Inc. leased 22,000 SF of Retail. UBS Unemployment 7.80% CT. Costco is increasing existing Unemployment 7.80% vacated 110,000 SF of Office. Patio. building by 15,000 SF w/ a gas com vacated 20,000 SF of Industrial, station; Danbury Regional Hospice to and Chase Bank vacated 15,000 SF construct a 30,000 SF center. Retail/Office. • Due in part to lower mortgage rates, • The 150,000 SF Lockworks buildingCONTACT and multi-generational buyers, CONTACT was completed in 2012, plus an single family home sales volume and additional 313,000 SF of Retail is Coldwell Banker Commercial pricing have improved. Danbury has Coldwell Banker Commercial still under construction, however no Scalzo Group NRT - CT placed in the Top 10 in the nation for Office or Industrial construction was 2 Stony Hill Rd., Suite 101 77 Old Ridgefield Rd. Bethel, CT 6801 multi-generational living scenarios. Wilton, CT 6897 completed, yet. There is 166,000 SF (203) 744-7077 (203) 831-4187 still under construction, the largest is www.coldwellbankerscalzo.com • An increase in hiring since Q3 2010 www.cbcworldwide.com 110 Quarry Rd with 74,726 SF. continues to bolster Retail rentals, while the weaker housing sector is • The average quoted asking rate is stimulating Apartment rentals. $31.68 /SF for Office.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy p Vacancy p Absorption p Absorption n Absorption p Absorption q Rental Rates q Rental Rates n Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy n Vacancy p Vacancy N/A Absorption n Absorption n Absorption q Absorption N/A Rental Rates q Rental Rates p Rental Rates p Rental Rates N/A 14
  • 15. DE - Sussex County FL - Brevard CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Panera Bread opened a new, free- Palm Bay- • “Space Coast” Brevard County offers CBSA Seaford, DE standing store on Coastal Highway CBSA Melbourne- pro-business incentives, low taxes, between Lewes and Rehoboth this Titusville, FL robust transportation infrastructure, spring. Several other national tenants high-tech labor force, 73 degree Square Miles 938 are reportedly looking at the Route 1 Square Miles 1,018 average temp, and 72 miles of pristine corridor. beach. • The vacancy rate in eastern Sussex • Foreign Trade Zone 136 has a superior Population 194,215 Population 536,805 County continues to fall. Absorption infrastructure for national/international was strong this spring, and most trade including: the second busiest prime Office space has been leased. port in the world, a freight railway Households 78,981 Some prime Retail locations remain system and major interstate highways. Households 225,977 available but absorption has been good. The three outlet malls continue • Embraer Aircraft is expanding its Household their long history of strong Retail Household operations at Melbourne International Income $52,386 sales. Income $56,299 Airport with a new research and Median Median development facility and 200 new • Residential construction remains engineering jobs .Employees (Total) 68,986 strong in eastern Sussex. Commercial Employees (Total) 181,926 construction remains slow but • BlueWare, Inc., a healthcare IT availability of financing has improved. company, is relocating its operations to Melbourne and expects to hire Unemployment 8.70% • For the first half of 2012, the Sussex Unemployment 9.40% 190 employees to have an economic County Association of Realtors impact estimated to be over $22.4 reported a 22% increase in home million. sales by volume. The average home price was up 17% over 2011 YTD. • Rocket Crafters’ move to the Space Coast Regional Airport in Titusville willCONTACT • Sussex County continues to be a CONTACT have an economic impact over $48m. prime destination for retirees. Very Bertram Yacht’s new facility in Merritt Coldwell Banker Commercial low property taxes and NO sales tax Coldwell Banker Commercial Island will have a projected economic Resort Realty are strong draws for those on fixed Sun Land Realty impact of over $26.3m. 20184 Coastal Highway 1920 Highway A1A Rehoboth, DE 19971 incomes. Indian Harbour Beach, FL 32937 (302) 227-5000 (321) 777-7743 • Brevard’s June 2012 residential market www.cbankercommercial.com • Sussex County is one of the largest www.commercialsunlandrealty.com average sale price of $147,500 is up counties east of the Mississippi based almost 13% over 2011 prices and the on square miles, but the population average days on the market of 119 has is less than 200,000. dropped 16% over 2011.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates n Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy N/A Vacancy N/A Vacancy q Vacancy q Absorption N/A Absorption N/A Absorption p Absorption p Rental Rates N/A Rental Rates N/A Rental Rates q Rental Rates q 15
  • 16. FL - Charlotte/Sarasota Counties FL - Daytona/Ormond Beach, Volusia CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Sarasota • A major new development in the area Deltona • Joe’s Crab Shack, a 19,000 SF eating CBSA Bradenton- is the Cocoplum Village Shops. Daytona area and 6,725 SF deck, opened July CBSA Venice, FL Ormond 1 and is the largest Joe’s Crab Shack Beach, FL • Vacancy is falling due to the on a pier over the Atlantic ocean. Square Miles 1,313 economy and lost jobs. It is the beginning of the recently Square Miles 1,103 created entertainment district. • There has been some Retail and a Hospital expansion, but other than • 3 large ocean front raw land Population 689,676 that, not much new commercial properties sold, with one major construction. Population 495,625 project being announced by a Canadian development company • The Residential market is currently planning on building one of the Households 311,173 flat. area’s largest hotel/condo projects. Households 214,567 Household • The market has not changed in • 11 start up companies are Income $58,236 general. Household celebrating the first anniversary of Median Income $47,500 the UCF Incubator at Daytona Beach Median International Airport.Employees (Total) 230,801 Employees (Total) 146,482 • Embry Riddle University is selected as a drone test site as well as Next-gen test area. Unemployment 8.80% Unemployment 9.10% • Boardings continue to rise at Daytona Beach International Airport, and bed taxes continue to rise in the Hotel/ Motel resort area.CONTACT CONTACT • 800 ft Volusia County - city of Ormond Beach oceanfront park Coldwell Banker Commercial Coldwell Banker Commercial breaks ground. Sunstar Realty, Inc. Benchmark 970 Kings Hwy., Suite 1 570 Memorial Circle, Suite 300 Port Charlotte, FL 33980 Ormond Beach, FL 32174 (941) 255-3497 (386) 672-8530 www.sunstarcommercial.com www.benchmarkdaytona.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy p Vacancy p Absorption q Absorption q Absorption q Absorption q Rental Rates q Rental Rates q Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy n Vacancy n Vacancy q Absorption q Absorption n Absorption n Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates p 16
  • 17. FL - Destin FL - Florida KeysDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Fort Walton • There has been increased velocity in • Fast Buck Freddies closed in Key West Beach income producing assets. CBSA Key West, FL from internet competition. CBSA Crestview Destin, FL • There is a strong speculative interest • Grocery and Pharmacy are doing well in land as inventory diminishes. Square Miles 997 and expanding. Retail is contracting. Square Miles 936 Hospitality and Restaurants are doing • Condo absorption is at a four well. year low, with less than 1 year of inventory. Population 73,047 • Valero/Dunkin Donuts has built a new Population 178,019 store in the Middle Keys. Publix has • REO assets are working through the opened a second store in Key West. process with price reductions. Households 32,553 Bank branches are consolidating. Households 72,513 • Inventory levels are declining at Household the rate of 10% annually. Distressed Household Income $71,455 properties represent only 13% of all Income $60,945 Median properties for sale. Median Employees (Total) 29,685 • Hospitality and tourism areEmployees (Total) 67,600 booming with the highest ADR’s and occupancies in the state. Unemployment 4.40% • Barriers to entry are significant Unemployment 6.10% related to the availability of building permits.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial United, Realtors Schmitt Real Estate, Co 4458 Legendary Dr. 11100 Overseas Hwy. Destin, FL 32541 Marathon, FL 33050 (850) 376-7289 (305) 743-5181 www.cbcunitedgulfcoast.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy p Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates q Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy p Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption n Rental Rates n Rental Rates n Rental Rates n Rental Rates p 17
  • 18. FL - Gainesville FL - Indian River CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • 91 percent of deals being done in the Sebastian-Vero • Large grocery store closed on US 1. CBSA Gainesville, FL local CBC office are leasing. CBSA Beach, FL • Overall market conditions are • Of those properties being leased, 71 gradually improving. Square Miles 1,223 percent were Office and 15 percent Square Miles 503 Retail. • Development interest is returning. • 18,000 SF positive Office lease • New construction in residential single Population 261,674 absorption and a 3,600 SF positive Population 135,534 family is up in 2012. lease absorption. • Owner users are the primary buyers Households 113,545 • Average Office lease rate is $13.33/SF Households 59,807 for Office and Retail. gross and average Retail lease rate is $15.72/SF NNN. • New corporate interest in moving to Household Household Indian River County. Income $45,060 • Average Office listing is on the Income $62,271 Median market 426 days and average Retail Median listing is on the market 585 days.Employees (Total) 87,322 Employees (Total) 43,595 • Even though time on market is high, there is a tremendous amount of lease activity occurring, but little sale Unemployment 7.30% activity. Unemployment 11.30%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial M.M. Parrish Realtors Ed Schlitt, L.C. 3870 NW 83rd St. 1950 U. S. 1 Gainesville, FL 32606 Vero Beach, FL 32960 (352) 264-3772 (772) 460-2081 www.mmparrish.com/commercial www.cbc.flcoldwellbanker.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy n Vacancy n Vacancy q Absorption p Absorption n Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates q Rental Rates p 18
  • 19. FL - Jacksonville FL - Lakeland/Winter HavenDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Jacksonville, • The medical practice of Dr. Scott Lakeland • LEGOLAND Florida attendance CBSA and Karen Warren purchased a 7,886 CBSA Winter Haven, exceeding expectations. The water FL SF Retail building in Ponte Vedra FL park opened in May 2012. CBC Beach, FL for just under $1.79m. Saunders Ralston Dantzler launch Square Miles 3,221 CBC Benchmark’s Colin Nicholson Square Miles 2,010 commercial sites at Legoland for and Travis Lemley represented the restaurants and hotels. Heritage Bank of Florida in the REO sale. • Publix expands County Line RD Population 1,334,380 Population 606,019 Warehouse to 1 million SF. • Global Income Trust Inc., an Orlando- based REIT, agreed to purchase the • Little or no vacancy of high-quality Households 518,910 Samsonite distribution facility at Industrial space. No large blocks of Households 228,998 Imeson Industrial Park in Jacksonville, space (over 100,000) are immediately FL. The 817,680 SF building sold for available. Household $42.5m or $52/SF Household Income $60,216 Income $40,730 • Florida Polytechnic launched as Median Median Florida’s 12th University. Expect • The Villas at St. Johns, a Riverside Apartment property sold for $38.6m demand for R & D space in NEEmployees (Total) 551,254 or $150,194/unit. The sale is just Lakeland. Employees (Total) 245,900 less than last year’s highest per- unit transaction, $153,405/unit, of • Sykes leases 90,000 SF of Office space Tattersail at Tapestry Park. for expanded call center operation Unemployment 8.50% Unemployment 10.00% and will hire over 300 employees. • With the Olympics in full swing, and golf headed to the Olympics in • Foreclosure activity continues to 2016, there is increased international drive demand for Apartments; interest in golf properties. Visit www. Vacancy is at all time low. cbcgolfcoursesales.com for moreCONTACT information. Five new course listings CONTACT have been added in the last two Coldwell Banker Commercial months. Coldwell Banker Commercial Benchmark Saunders Ralston Dantzler Realty 4348 Southpoint Blvd., Suite 310 114 N Tennessee Ave., 3rd Floor Jacksonville, FL 32216 • The Summit Contracting Group Lakeland, FL 33801 (904) 281-1990 of Jacksonville has won a $24.6m (863) 648-1528 www.cbcbenchmark.com contract to build a 230 unit student www.srdcommercial.com housing project next to the University of Virginia in Charlottesville, VA.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy q Vacancy n Absorption p Absorption n Absorption p Absorption n Rental Rates p Rental Rates q Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates q Rental Rates p Rental Rates n Rental Rates p 19
  • 20. FL - Melbourne/Brevard County FL - Naples/Ft. MyersDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Palm Bay- • Embraer expands, and Mid Air Naples-Marco • This is the time to buy in Naples/Ft. CBSA Melbourne- constructs 180,000 SF. CBSA Myers because prices are at historic Island, FL Titusville, FL lows. • Commercial leasing is recovering. Square Miles 1,018 Port Canaveral growth continues Square Miles 2,025 • Retail improves with vacancy down with more than 3 million cruise to 7.6%. passengers in 2011. • Office continues with vacancy at Population 536,805 • Numerous large hire companies are Population 320,101 15.1%. relocating to Brevard County. • Industrial has a long way to go. There • Residential market is recovering. New Households 132,487 are many bargains at this time. Households 225,977 construction taking place in Viera. Inventory is down. Household Household Income $56,299 • National tenants are seeking sites. Income $76,515 Median Median • Private space sector is replacing NASA and hiring NASA Engineers. Employees (Total) 115,960Employees (Total) 181,926 Unemployment 9.40% Unemployment 8.80%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Ed Schlitt, L.C. NRT - Naples 235 Fifth Ave. 550 Fifth Ave. South Indialantic, FL 32903 Naples, FL 34102 (321) 723-9500 (239) 596-6130 www.cbc.flcoldwellbanker.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates p Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy N/A Absorption p Absorption p Absorption p Absorption N/A Rental Rates n Rental Rates n Rental Rates q Rental Rates N/A 20
  • 21. FL - Orlando FL - Polk CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Orlando • Baer’s Furniture moved out of 35,000 Lakeland • Lakeland Industrial building sells for CBSA SF in Altamonte Springs. CBSA Winter Haven, $13,472,900. Kissimmee, FL FL • 75,000 SF of Office space was leased • Rental rates for Retail in Polk County Square Miles 3,491 by Florida Institute of Technology. Square Miles 2,010 were down slightly from the Q4 of 2011. • 10 buildings totaling 137,403 SF of Retail space were completed in • John Deere Landscaping leased Population 2,093,845 Orlando. Population 606,019 8,190 SF on 2700 Combee Rd. in Polk County. • Class-B Office space net absorption Households 799,047 +322,116 SF; Class-C: + 32,006 SF. • Office vacancy and rental rates in Households 228,998 Polk County remained virtually • Amcor Rigid Plastics USA is moving unchanged. Slight increases in Household into 500,000 SF of Industrial Space. Household absorption were noted. Income $53,425 Income $40,730 Median • Flex building recorded net absorption Median • One of the largest transactions of positive 91,666 SF. that has occurred within the lastEmployees (Total) 956,766 four Quarters in the Tampa/St. Pete Employees (Total) 239,100 market is the sale of 1515 W. Bella Vista St. in Lakeland. This 180,000 SF Industrial building sold for Unemployment 8.70% Unemployment 10.00% $13,472,900 or $74.85 per SF on 9/9/11.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Maitland NRT - Winter Haven 901 N Lake Destiny Dr., Suite 110 290 Cypress Gardens Blvd.. Maitland, FL 32751 Winter Haven, FL 33880 (407) 571-5294 (863) 294-7541 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy n Vacancy p Absorption p Absorption q Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates n Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy N/A Vacancy q Vacancy N/A Absorption p Absorption N/A Absorption p Absorption N/A Rental Rates N/A Rental Rates N/A Rental Rates q Rental Rates N/A 21
  • 22. FL - Sarasota/Manatee/Charlotte Counties FL - SouthernDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Sarasota- • Industrial absorption is picking up. • Publix opened a second store in Key CBSA Bradenton- CBSA Key West, FL West, and is planning a new store in Venice, FL • Manatee County-Feld Industry and Islamorada. Dentsply purchased 750,000 SF Square Miles 1,313 Industrial. Square Miles 997 • Vacancies are falling due to expansions and new business moving • New home sales have picked up. to the Keys. Population 689,676 • Multi-Family properties are in high Population 73,047 • Dunkin Donuts is expanding into demand. Marathon with a new store. • Unemployment dropped from 12% to Households 32,553 • Residential inventories are going Households 311,173 8% percent overall. down over 10% per year for the past 2 years. Household • International tourism was a big factor Household Income $58,236 in this years season. Income $71,455 • The Keys enjoy the highest ADR and Median Median occupancy in the state. Tourism is driving the recovery.Employees (Total) 230,801 Employees (Total) 29,685 • Barriers to entry are very high given land use and environmental issues. Unemployment 9.00% Unemployment 4.40%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Sarasota Schmitt Real Estate, Co. 100 N. Tamiami Trail 11050 Overseas Hwy. Sarasota, FL 34236 Key West, FL 33050 (941) 925-8586 (305) 743-5181 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates q Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates p 22
  • 23. FL - St. Lucie County FL - TallahasseeDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Port St. Lucie, • Vacancy in Retail seems to be at Tallahassee, • Whole Foods is planned to open in CBSA a standstill. Small office space is CBSA 2013. Academy Sports opened in FL FL moving (mostly 3,000 SF and under). 2012. Square Miles 1,128 • Residential market has improved Square Miles 2,387 • Office vacancy is rising and stands at greatly in the St. Lucie County, FL 22%. The major reason is the state area. Inventory is low. of Florida is vacating several large spaces. Population 407,361 • There have been more land sales this Population 361,765 year than in the past three years! • VA Hospital is planned to open in 2013. There are also multiple FSU Households 169,340 Households 154,494 student Multi-Family projects in progress in College Town. Household Household • Residential transaction volume is up Income $53,266 Income $47,364 6% the first half of 2012. Inventory Median Median is decreasing; prices are stable and increasing in certain areas.Employees (Total) 117,662 Employees (Total) 111,973 • Unemployment is down to 7.2% vs 7.9% this time last year, one of the lowest rates in the state. Unemployment 10.90% Unemployment 7.20% • Gaines Street Retail Re-development is finally happening. Mid-town is continuing it’s Retail expansion. New FSU Student housing projects coming on line (approximately 4,500 beds)CONTACT CONTACT in the next few years. Tallahassee has also become a national top Coldwell Banker Commercial Coldwell Banker Commercial retirement destination. NRT - Port St. Lucie Hartung & Noblin Inc. 1973 SW Savage Blvd. 3303 Thomasville Rd. Port St. Lucie, FL 34953 Tallahassee, FL 32308 (772) 621-7518 (850) 386-6160 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy N/A Vacancy p Vacancy p Absorption N/A Absorption n Absorption q Absorption q Rental Rates q Rental Rates n Rental Rates N/A Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy N/A Vacancy q Vacancy q Absorption N/A Absorption N/A Absorption p Absorption p Rental Rates q Rental Rates N/A Rental Rates q Rental Rates p 23
  • 24. FL - Tampa/St. Petersburg GA - AthensDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Tampa-St. • Moffit Cancer Center is moving into Athens-Clarke • In spring of 2012, Caterpillar Inc. CBSA Petersburg- 100,000 SF on Telcom Dr. CBSA announced the relocation of a $200 County, GA Clearwater, FL million plant to Athens, GA. • Tampa/St. Petersburg Office vacancy Square Miles 2,554 ended unchanged in Q2 of 2012. Square Miles 1,031 • The plant will be located on an 860 acre Industrial parcel between • Retail net absorption was slightly U.S. Highway 78 and GA Hwy 316 positive in Tampa/St. Petersburg. in Clarke and Oconee Counties. Population 2,757,566 Population 193,495 Caterpillar has already broken ground • During Q2, two buildings totaling and will start production in 2013. 162,196 SF were completed. Households 77,486 • Wages will be at or above the median Households 1,166,605 incomes of Clarke and Oconee Counties. Household Household Income $49,596 Income $40,278 • In addition to the 1,400 factory jobs Median Median created, Caterpillar will indirectly create another 2,800 jobs through Employees (Total) 60,760 its $57 million payroll and $39Employees (Total) 1,059,081 million in increased retail spending, generating $1 million in annual sales tax revenue. Georgia Governor Unemployment 9.00% Unemployment 7.50% Nathan Deal called the relocation a “game-changer” for Athens and the surrounding counties.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Tampa Upchurch Realty 5010 W. Kennedy Blvd., 2nd Floor 2405 W. Broad St. Tampa, FL 33609 Athens, GA 30606 (813) 286-2964 (706) 354-7870 www.cbcworldwide.com www.upchurchrealtycommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption n Rental Rates q Rental Rates p Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy N/A Vacancy n Vacancy p Absorption q Absorption N/A Absorption n Absorption n Rental Rates q Rental Rates N/A Rental Rates n Rental Rates p 24
  • 25. GA - Atlanta GA - Chatham CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Atlanta-Sandy • Atlanta’s office market began 2012 • Gulfstream has launched a $500m, CBSA Springs with absorption totaling just over CBSA Savannah, GA seven-year expansion program at Marietta, GA 625,000 SF, an amount equal to almost its Savannah facility. As part of the all of last year’s total. Atlanta’s office program, Gulfstream will add 1,000 Square Miles 8,376 market recovery continues to show Square Miles 1,359 jobs, increasing the workforce to signs of strengthening. about 6,500 employees in Savannah. • On the whole, Retail absorption • Mitsubishi Power Systems Americas Population 5,521,582 Population 347,453 topped 240,000 SF in Q1 of 2012 with dedicated its new $325 million shopping centers seeing the bulk of Savannah Machinery Works, a the occupancy gains. state-of-the-art facility that will Households 130,609 manufacture goods to provide power Households 2,028,400 • At mid-year 2012, the recovery of to the electric grid both in the U.S. Atlanta’s industrial market remains and around the world. The complex Household solid. Q2 absorption topped 2.5 Household will employ some 500 people and Income $60,590 million SF, which is the second highest Income $55,567 create millions of dollars in economic Median Median amount of industrial space absorbed activity for Georgia. in the past four quarters. Employees (Total) 129,296 • New construction includes a NordicEmployees (Total) 2,223,339 • Since the end of 2009, the overall retail Logistics and Warehousing 400,000 vacancy rate in the Atlanta region has SF cold storage facility. essentially remained unchanged. The Unemployment 9.30% occupancy gains experienced during Unemployment 9.10% • Groundbreaking for West Chatham this period of time have been matched water park / IMAX theater complex. almost equally by the amount of vacant space added to the market. • One West Victory, $20 million Mixed- use facility, has broken ground. • While housing starts are onlyCONTACT just beginning to show an uptick, CONTACT • Construction of 700+ unit Multi- anecdotal evidence indicates supply Family project is taking place with Coldwell Banker Commercial for new housing in desirable locations Coldwell Banker Commercial more planned. Metro Brokers is running low. Platinum Partners 3575 Piedmont Rd. 6349 Abercorn St. N.E. Building 15, Suite 950 Savannah, GA 31405 Atlanta, GA 30305 • On the whole, Atlanta’s office market (912) 352-1222 (404) 495-8915 will likely see less absorption in the Q3 www.cbcplatinum.com www.cbcmetrobrokers.com thanks to a number of consolidations set to occur; yet still remain in positive territory.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy q Vacancy p Absorption q Absorption p Absorption p Absorption n Rental Rates n Rental Rates q Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates p 25
  • 26. GA - Columbus GA - Hinesville/Fort StewartDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Columbus, • AFS America, a primary supplier for Hinesville-Fort • The Hinesville/Fort Stewart MSA was CBSA Hyundai and Kia, has chosen Columbus CBSA the 3rd fastest growing MSA in the GA-AL Stewart, GA for a new manufacturing plant, which US 2010/2011. will bring 65 new jobs. It is expected to Square Miles 1,937 be completed by early 2013. Square Miles 920 • The Hinesville/Fort Stewart MSA was the 4th fastest growing MSA for Job • Construction has started on a new growth 2010/2011. Martin Army Community Hospital to Population 293,977 Population 73,844 • Fort Stewart is the largest military house 75 beds, with a total Investment of $408 million. installation east of the Mississippi River. Households 117,712 • Columbus is opening a branch of the Households 26,115 Mercer Medical School by way of a • Fort Stewart has a $7.13 billion partnership between Mercer, Columbus economic impact on the region. Household Regional Healthcare and St Francis Household Income $49,432 Hospital. The first 14 students are Income $48,667 • Liberty County is centrally located Median Median between 4 deep water ports, 2 within studying here now. 45 minutes.Employees (Total) 93,485 • Overall housing market in Columbus, Employees (Total) 12,145 GA is projected to recover slowly • Liberty county has a highly with steady growth. Overall price disciplined, motivated and trained points combined with low interest military retiree work force. Unemployment 9.80% rates and rising income provide for an Unemployment 9.60% affordability index that is at historic highs. • Columbus market has enjoyed stability, with periods of growth primarily dueCONTACT to the expansion and reallocation of CONTACT troops coming into Ft. Benning - the Coldwell Banker Commercial new Maneuver Center of Excellence. Coldwell Banker Commercial Kennon, Parker, Duncan & Key Holtzman Realtors 4621 River Rd. Suite C 730 General Stewart Way • Moody’s long term assessment for Columbus, GA 31904 Hinesville, GA 31313 (706) 256-1500 Columbus is that it will outperform (912) 408-4040 www.commercialcolumbusga.com the nation over the next two years. www.cbcholtzman.com Overall, southern metropolitan areas are expected to outpace the nation at even greater numbers.OFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy n Vacancy q Absorption q Absorption p Absorption n Absorption p Rental Rates p Rental Rates p Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy p Vacancy N/A Vacancy q Absorption p Absorption q Absorption N/A Absorption p Rental Rates q Rental Rates n Rental Rates N/A Rental Rates p 26
  • 27. GA - Lake Oconee/Lake Sinclair GA - Macon, Bibb CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Greene • MetLife completes acquisition of • Tractor Supply has begun CBSA Reynolds Plantation. Purchase CBSA Macon, GA construction of its 700,000 SF County, GA included six championship golf regional distribution facility that will courses, dining, swimming pools, employ 200 people. Square Miles 345 pedestrian trails, marinas, a tennis Square Miles 1,725 center and a wellness campus. • Global Parts Distributors, one of the world’s most dependable sources of • Also included was the Ritz-Carlton aftermarket A/C parts, has leased a Population 21,218 Population 232,119 Lodge, a 251-room lakefront resort 110,000 SF Warehouse in Macon that and spa, which was named as a will serve the Southeast Region and 2012 AAA Five Diamond Lodging, employ over 50 positions. Households 8,601 and hundreds of acres of prime Households 89,721 commercial real estate. • Vacancy is falling because of high level of manufacturer/distributors Household • Baxter International Inc., a global Household being located near the Port of Income $50,485 leader in biologic medical therapies, Income $47,145 Savannah along Interstate 16 and 75. Median Median has announced it will build a new state-of-the-art manufacturing • NW Technologies is constructing aEmployees (Total) 5,263 facility nearby to support growth Employees (Total) 83,398 $20,000,000 polar and wind products of its plasma-based treatments, manufacturing facility here that will resulting in the creation of more than employ over 150 new positions. 1,500 full-time positions in GA. Unemployment 9.40% Unemployment 10.10% • The residential market is keeping • The number of units sold has with national trends; new housing increased in both the local starts are mostly non-existent and Commercial and Residential market, resales of existing homes are up compared YTD in 2011. 2% over year end 2010. Several new Multi-Family ApartmentCONTACT CONTACT developments are under way, started in 2011 to be finished in 2012. Coldwell Banker Commercial Coldwell Banker Commercial Lake Country Eberhardt & Barry • Local voters approved a 1020 Greensboro Rd., NE 990 Riverside Dr. consolidation of City and County Eatonton, GA 31024 Macon, GA 31201 (706) 485-0124 (478) 746-8171 Governments. www.cbclakecountry.com www.coldwellbankercommercialeb.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy p Vacancy p Absorption p Absorption q Absorption q Absorption q Rental Rates n Rental Rates q Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy N/A Vacancy N/A Vacancy q Vacancy q Absorption N/A Absorption N/A Absorption p Absorption p Rental Rates N/A Rental Rates N/A Rental Rates n Rental Rates n 27
  • 28. HI - Honolulu ID - BoiseDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Hawaii’s economy remains healthier Boise City- • Major grocer openings in the Boise CBSA Honolulu, HI than the continental U.S. However, CBSA area market in 2012 include: Fred Nampa, ID it is slowing due to stagnant labor Meyer, Rosauer’s Supermarket and markets and limited construction. Whole Foods opening November Square Miles 600 Tourism remains a bright spot Square Miles 11,788 2012. Walmart will open two new posting an 8.5% increase in visitor locations in 2013/2014 in Meridian, arrivals over 2011 levels. ID. Population 910,677 Population 610,611 • Hawaii’s construction is a replay of • Meridian Town Center, a 500,000 SF, 2011 for 2012, with only military and $250m Retail project in Meridian, government projects being awarded, Idaho, is underway. Developer, Households 311,782 attracting out-of-state firms to Households 224,823 CenterCal Properties has leased over compete for these contracts. 200,000 SF of the project’s space. Tenants include Gordman’s, Marshalls, Household • In 2012, the unemployment rate Household Petco, Gap Outlet, Chick-fil-A, Income $67,192 decreased to 6.4%. Income $55,100 Cinema West and Big Al’s Sports Bar. Median Median • Larry Ellison, CEO of Oracle, • The number of new home sales isEmployees (Total) 365,718 purchased the Island of Lanai, the Employees (Total) 232,386 up an incredible 100% for the Q1 of 6th largest island in the state. The 2012 compared to 2011. purchase price is estimated upwards of $500 million. • The Boise area has seen marked Unemployment 6.40% Unemployment 7.30% economic improvement characterized by steady, broad-based job growth and increasing property values, both residential and commercial. • Idaho’s unemployment rate droppedCONTACT CONTACT a tenth of a point to 7.8% in June 2012 the lowest since September Coldwell Banker Commercial Coldwell Banker Commercial 2009. Pacific Properties NRT - Boise 737 Bishop St., Suite 2000 6550 South Millrock Dr. Honolulu, HI 96813 Suite 200 (808) 526-0896 Salt Lake City, UT 84121 www.cbcpacific.com (208) 888-1825 www.coldwellutah.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy q Vacancy q Absorption p Absorption q Absorption p Absorption p Rental Rates n Rental Rates q Rental Rates q Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy n Vacancy q Vacancy q Absorption q Absorption n Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates n 28
  • 29. ID - Coeur d’ Alene IL - Bloomington/Normal, McLean CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Coeur d’Alene, • WinCo anchored Shopping Center Bloomington- • State Farm Insurance continues CBSA planned for construction in 2013. CBSA employment growth. ID Normal, IL • Lack of new construction for Multi- • Uptown Normal is busy with a Square Miles 1,245 Family projects is helping with Square Miles 1,184 Transportation Center and other absorption. projects in the works. • There has been a fair amount of • ISU campus apartment development Population 140,628 Owner Occupied new construction. Population 168,918 is active. • Rental rates continue to stay • Healthcare expansions are planned Households 53,154 stagnant, but Landlord concessions Households 70,687 for Advocate BroMenn and OSF. are starting to drop. • Local jobless rate stays consistently Household • Continues to be a buyers market ripe Household best in the state. Income $50,618 with Owner Occupied opportunities. Income $59,825 Median Median • The local housing market is up 25%.Employees (Total) 49,226 Employees (Total) 69,980 Unemployment 8.00% Unemployment 7.60%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Schneidmiller Realty Heart of America Realtors 2000 Northwest Blvd.; Suite 200 802 S. Eldorado Rd. Coeur d’Alene, ID 83814 Bloomington, IL 61704 (208) 664-1461 (309) 662-3377 www.cbcsr.com www.cbhoacommercial.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy q Vacancy q Absorption p Absorption n Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates p 29
  • 30. IL - Champaign/Urbana IL - ChicagolandDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Champaign- • Carle Hospital has announced plans Chicago • The Chicago Industrial market CBSA for expansion of their Emergency CBSA Naperville continued to improve in the Q2 of Urbana, IL Room department. Joliet, IL-IN-WI 2012. There was 5,817,000 SF of net absorption. The vacancy rate decreased Square Miles 1,923 • Parkland College has completed Square Miles 7,212 to 10.6 %. The largest leases signed their new Applied Technology Center in 2012 so far are M Block & Sons for and begun work on a new Student 916,000 SF and Bridgestone for 406,000 Services addition. SF. Population 227,494 Population 9,617,804 • Easton-Bell Sports has announced • The vacancy rate in Industrial and Office plans for a 800,000 SF facility in decreased in the Q2 and Retail vacancy Households 97,325 Rantoul. only increased slightly. The reason the Households 3,484,370 vacancy has fallen is because there was • The Retail segment bounced back very little new construction, and several Household and has seen a lot of activity in the Household large new leases were signed. Income $47,851 first half of 2012. Income $66,775 Median Median • There was 453,000 SF of new Industrial • The student housing market remains space, 425,000 SF of new Office spaceEmployees (Total) 80,156 very hot with cap rates falling below and 117,000 SF of new Retail space Employees (Total) 4,186,171 6% on the University of Illinois constructed. These are very nominal Campus. amounts of new space when compared to the size of the overall markets. Unemployment 9.10% • The University of Illinois is continuing Unemployment 9.30% work on their new Ikenberry • The residential market has shown Commons residence halls and has dramatic improvement. Sales of begun work on a new building on the single family homes have increased Engineering Campus. significantly and prices are starting to increase. The Apartment marketCONTACT CONTACT continues to flourish with low vacancies, increasing rents and several Coldwell Banker Commercial Coldwell Banker Commercial new projects being built. Devonshire Realty NRT - Chicago 201 W. Springfield, 11th Floor 2215 Sanders Rd. Champaign, IL 61820 Northbrook, IL 60062 • The Industrial market has been very (217) 352-7712 (847) 313-4600 active with large absorption over the www.cbcdr.com www.cbcworldwide.com last 3 Quarters. Office has also shown significant improvement, but vacancy rates in the suburban markets are still over 16%.OFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy q Vacancy p Absorption n Absorption p Absorption p Absorption q Rental Rates q Rental Rates n Rental Rates p Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates p 30
  • 31. IL - Madison/St. Clair Counties IL - Peoria CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS St. Louis, • Sam’s Store purchased property in • Healthcare Industry continues to CBSA Glen Carbon. This is the second store CBSA Peoria, IL expand in the area. Big R has now MO-IL in the Metro East St. Louis market. leased two large vacant centers in the area. CAT announced a major retrofit Square Miles 9,392 • Southern Illinois University Square Miles 2,470 of general offices. Edwardsville is completing $200 million + in construction projects this • Vacancy in this region is fairly static. year. Economic uncertainty is the biggest Population 2,858,935 Population 377,630 factor. • New student housing project is fully leased, and two more projects are • New commercial construction Households 1,125,496 under consideration. Households 153,377 is spotty, but there are huge improvements from two years ago. • This market is home to Scott Air Household Force Base. Household • The Residential market has Income $57,785 Income $60,133 construction starting, and home Median • Three Hospital projects are under Median purchasing is on the upswing. consideration.Employees (Total) 1,261,660 Employees (Total) 157,932 • Commercial market is definitely • A major sands oil refining project was improving, both property sales and just completed by Conoco Phillips. leasing. Unemployment 9.00% Unemployment 7.90% • Unemployment in the Tri County area continues to decline. Caterpillar continues as a major force in Peoria and surrounding areas.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Brown Realtors Devonshire Realty 2205 South State Route 157 4507 N. Sterling Ave., Suite 203 Edwardsville, IL 62025 Peoria, IL 61615 (618) 692-7290 (309) 692-7707 www.brownrealtorscommercial.com www.cbcdr.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy n Vacancy n Vacancy q Absorption n Absorption n Absorption N/A Absorption p Rental Rates q Rental Rates n Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy n Vacancy q Vacancy q Absorption p Absorption n Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates q Rental Rates n 31
  • 32. IL - Sangamon County IN - Delaware CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • There is a very strong medical • Sallie Mae added 50,000 SF and 200 CBSA Springfield, IL influence in this market. CBSA Muncie, IN new jobs. • Capitol of Illinois adds to strong • Jarden Home Brands and IBM Square Miles 868 employment base. Square Miles 393 extend leases and IBM is expanding at Heartland Business Center in • There is a strong agricultural Daleville. influence in this area. Population 196,269 Population 115,425 • A new Auto Mall is being developed • Residential market has been up for on 72 acre site. the past 7 months. Households 82,636 Households 48,625 • Three new student housing projects • There is lower than average totaling 350 units to be completed in unemployment in this area. 2012-2013. Household Household Income $56,722 • Springfield has a strong tourism draw Income $40,907 • Residential Market - unit sale up Median with Lincoln sites. Median 12.3% and average price up 8.9%.Employees (Total) 83,238 Employees (Total) 42,446 • Magna Power Trac is adding 50,000 SF and 50 jobs. • Delaware Advancement Corporation Unemployment 7.70% Unemployment 9.70% announces completion of new 40,000 SF Industrial shell building. • New 50,000 SF light Industrial building being constructed at Heartland Business Center inCONTACT CONTACT Daleville. Coldwell Banker Commercial Coldwell Banker Commercial • Spartech Packaging Technologies Devonshire Realty Lunsford making a $19 million capital 3201 Old Jacksonville Rd. 3601 W. Bethel Ave. investment and adding 32 jobs. Springfield, IL 62711 Muncie, IN 47304 (217) 547-6650 (765) 289-2228 www.cbcdr.com www.cblcre.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy p Absorption p Absorption p Absorption n Absorption q Rental Rates p Rental Rates p Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates p Rental Rates q Rental Rates n 32
  • 33. KS - Garden City KS - Kansas City Metro AreaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Garden City, • Aztec Oil Company has moved into Kansas City, • Unemployment has lowered to 7.6% CBSA the area. CBSA in the Metro and 5.8% in Kansas. KS MO-KS • Vacancy is falling because this area is • The new Ford Claycomo plant is Square Miles 1,302 center for Oil & Gas + a major Retail Square Miles 7,857 under construction. Center. • Retail sales in the Metro area are • New construction is starting again. up. New Retail and entertainment Population 42,609 Population 2,076,653 construction is underway. • This residential market is stable and strong. • Home sales in the metro area are up. Households 13,697 Households 819,900 • This area is growing as a Major Retail • Surveys show that business executive Center. confidence is up. Household Household Income $43,008 • This is an Aggressive Market Area. Income $60,301 • The continued good farm economy is Median Median having a positive effect on the Metro area.Employees (Total) 13,558 Employees (Total) 914,989 Unemployment 4.20% Unemployment 6.80%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial The Real Estate Shoppe Inc Fishman & Company 1135 College Dr. Suite E 1948 E. Santa Fe Garden City, KS 67846 Olathe, KS 66062 (620) 275-7421 (913) 782-9000 www.cbcworldwide.com www.cbcfishman.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption q Absorption n Rental Rates p Rental Rates p Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy n Vacancy q Absorption n Absorption p Absorption p Absorption q Rental Rates p Rental Rates p Rental Rates n Rental Rates p 33
  • 34. KY - Louisville Metro KY - SouthernDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Louisville employment has been stronger Louisville Bowling Green, • Holley Performance Products CBSA Jefferson than many markets during the last two CBSA years. Contributors have included the KY announces $7 million+ expansion. County, KY-IN UPS National Airhub, the Ford plants, GE • Fruit of the Loom continues to grow Appliance Park, YUM! Brands, and the Square Miles 4,135 vitality of the medical industry (example: Square Miles 848 international headquarters in Bowling Humana acquired Kindred of St. Louis in Green. 2011). • Corvette Plant announces 60th Population 1,263,217 Population 121,646 Anniversary Model. All Corvettes are • Investor interest in Louisville Multi-Family is high, and cap rates are significantly built in Bowling Green, KY. higher than in glitzier markets. The Households 50,840 • Warren County has been ranked as Households 506,857 problem, as elsewhere, is a lack of product Kentucky’s #1 County for Private as owners hang on to their properties in Sector Growth for 10 Years. this time of rising rents and occupancy. Household Household There is some new construction. Income $54,741 Income $46,805 • Newsweek Ranks WKU’s Gatton Median Median Academy as #1 High School in the • Retail in Louisville is flat as in much of Country. the country. There is low double-digitEmployees (Total) 549,941 vacancy. It’s probably poised to bounce Employees (Total) 50,727 • Taggart Solar to locate in Edmonson back quickly when national economy County Industrial Park. rebounds. Newcomers such as Nike Factory Outlet, Trader Joe’s, Urban Unemployment 8.30% Outfitters and others are hopefully the Unemployment 7.40% vanguard. • Industrial Louisville leasing activity is strongest in five years, except for 2008. Rates are fairly flat over last five years.CONTACT Vacancy has dropped below 8% for first CONTACT Coldwell Banker Commercial time in last five years. Coldwell Banker Commercial McMahan Co. Legacy Real Estate Group 10600 Timberwood Circle • Louisville Office remains a weak sector, 2435 Fitzgerald Industrial Dr., Suite 101 Suite 7 but with some improvement, especially in Bowling Green, KY 42104 Louisville, KY 40223 Class A. Vacancy above 10% for Class A; (270) 781-3844 (502) 425-8800 mid-teens for B; and high teens for C. Flat www.cbclegacy.com www.cbcworldwide.com rental rates. Total leasing activity best in several years, but well shy of 2007.OFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy q Vacancy q Absorption n Absorption n Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates p 34
  • 35. LA - Acadiana LA - New OrleansDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Oil and gas industry continues to New Orleans- • GE Capital Center brings 300 direct CBSA Lafayette, LA drive all segments of the Arcadiania CBSA Metairie jobs to New Orleans in its technology market. Kenner, LA center. Square Miles 1,010 • New Medical facilities on the south Square Miles 3,153 • Vacancy rates are falling across most side of the city are increasing activity product types due to expanding both commercially and residentially. technology in the medical and bio- medical employment sectors in this Population 264,966 • Halliburton recently opened a new Population 1,230,886 market. manufacturing facility in Lafayette North. This activity has spurred new • Substantial transportation and Households 101,487 growth along the I-49 corridor. medical facility upgrades are leading Households 469,474 to increased demand for space in the • Industrial buildings available for sale New Orleans area. Household or lease are statistically non-existent, Household Income $54,248 which continues to foster new Land Income $58,413 • Residential inventory is nearing Median developments and new construction Median 2005 levels of supply, and demand of Industrial buildings of all sizes. has improved, which is leading toEmployees (Total) 139,997 increased pricing. Employees (Total) 458,428 • Existing building renovations are a hot market, not only in the • Forbes named New Orleans the traditional in-fill areas, but also fastest growing market in America. Unemployment 6.20% in older Industrial areas where an Unemployment 8.70% infrastructure is in place and land • Due to tax incentives, quality of life values reasonably priced. and a positive business climate, young entrepreneurs are choosing • Funding for speculative projects New Orleans to open their businesses remains a challenge but has loosened for the first time since the 1960’s.CONTACT considerably in 2012. CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Pelican Real Estate TEC Realtors 806 East Saint Mary Blvd. 701 Loyola Ave., Suite 401, Lafayette, LA 70503 P.O. Box 50070 (337) 233-9541 New Orleans, LA 70150 www.cbcpelican.com (504) 566-1777 www.cbctec.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy n Vacancy p Absorption n Absorption q Absorption n Absorption q Rental Rates n Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption q Absorption q Absorption p Absorption p Rental Rates p Rental Rates n Rental Rates p Rental Rates p 35
  • 36. ME - Midcoast MD - SuburbanDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Midcoast Maine is starting to Baltimore- • BRAC (Base Realignment and Closure) CBSA Rockland, ME see substantial increase in Retail CBSA continues to fuel Defense Contractor Towson, MD development. Walmart is breaking activity in the Fort Meade area. ground on their new Super Walmart Square Miles 366 150,000 SF Retail center in August Square Miles 2,609 • Tenants moving into large blocks of 2012. Tractor Supply will follow Office space include the US Navy, shortly thereafter with their new 67,334 SF in Annapolis and Ciena 20,000 SF Retail building. Corp, 88,405 in Hanover. Population 40,753 Population 2,697,935 • Due to continued national exposure • A flat economy and flat job growth and attractive lifestyle, Midcoast has caused Office absorption and Households 23,744 Maine is seeing further growth in the Households 1,053,696 rental rates to decline. sale of residential properties. Prices have increased 12% over the past Household twelve month period. Household Income $52,132 Income $70,020 Median Median • Many Flags Regional School/College Campus is closer to becomingEmployees (Total) 15,971 a reality with the State of Maine Employees (Total) 1,099,602 now seeking ways to fund the development of the one-of-a-kind campus. Unemployment 6.90% Unemployment 7.80% • Tourism traffic is ahead of 2011 for the area. The outlook for the immediate future is looking very promising despite the economic news.CONTACT CONTACT • Retail sales continue to be up. One Coldwell Banker Commercial example, a national Retail lumber Coldwell Banker Commercial SoundVest Properties store continues to see increases NRT - Annapolis 147 Park St. 170 Jennifer Rd., Suite 102 Rockland, ME 04841 in their year-over-year sales since Annapolis, MD 21401 (207) 596-7478 opening approximately six years ago. (410) 224-2200 www.cbcworldwide.com The outlook for them and others www.cbcbannapolis.com in the area continues to look good. Retail trade area -114,000 residents.OFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy n Vacancy n Absorption n Absorption p Absorption q Absorption p Rental Rates n Rental Rates N/A Rental Rates q Rental Rates N/AINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy N/A Absorption p Absorption p Absorption p Absorption N/A Rental Rates n Rental Rates n Rental Rates p Rental Rates N/A 36
  • 37. MA - Pioneer Valley MI - MiddleDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Bargains are here. Lansing-East • Emergent Biosolutions has been CBSA Springfield, MA CBSA awarded military contracts and Lansing, MI • This is a small city with big building additions that will nearly opportunities. double their current office and Square Miles 1,849 Square Miles 1,707 production facility. • Brand new casino is coming to the area soon! • There is growing demand for Office space of 10,000 SF and higher, while Population 699,962 • Longmeadow provides easy highway Population 453,378 Office space less than 10,000 SF access. remains flat. Households 286,180 • Longmeadow is triangulated between Households 184,334 • Residential construction had a Q1 NYC, Hartford, Boston and Albany. rebounded, but has slowed over the Q2. Household Household Income $54,006 Income $54,211 • Residential sales are up for the first Median Median half of 2012 by nearly 20%, making 11 consecutive months of positiveEmployees (Total) 244,160 Employees (Total) 165,594 growth in mid-Michigan. • Unemployment in mid-Michigan is below the State and National Unemployment 7.50% Unemployment 7.70% average, and the real estate market appears to be making a gradual positive turn. • All 4 sectors of mid-Michigan employment are showing signs ofCONTACT CONTACT economic improvement, including 1. Michigan State University 2. State Coldwell Banker Commercial Coldwell Banker Commercial Government 3. General Motors NRT - MA Hubbell BriarWood 4. Hub for national insurance 136 Dwight Rd. 830 W. Lake Lansing Rd. companies. Longmeadow, MA 01106 East Lansing, MI 48823 (413) 575-1970 (517) 321-5100 www.cbcworldwide.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy q Absorption q Absorption q Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy q Vacancy q Absorption q Absorption p Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates p 37
  • 38. MI - Western MN - MankatoDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Grand Rapids- • Cabela’s moved into the area. Mankato-North • Forbes recently ranked Greater CBSA CBSA Mankato as 11th of “Best Small Places Wyoming, MI Mankato, MN • Demand for Healthcare, Professional for Business and Careers.” Care and Manufacturing contribute to Square Miles 2,828 vacancy rates. Square Miles 1,205 • Greater Mankato is now designated as a Level 1 Trade Center, further • New construction includes Gordon establishing the area as a key Retail Food Service HQ, Cabela’s and MSU and service hub for southern MN and Population 779,129 Medical. Population 93,650 Northern IA. • For residential, there is less than 6 • Several new neighborhood strip Households 293,209 month supply. Households 39,391 centers are in development as a result of renewed interest from • Both demand and lack of inventory national Retailers. Household are changes in this market. Household Income $55,111 Income $51,381 • Area Medical facilities continue to Median • University Growth, Healthcare and Median receive high quality rankings as they branding of a city are all important further expand their services in theEmployees (Total) 358,125 features of the area. Employees (Total) 49,122 region. • Development land sales continue to be sluggish. Unemployment 7.30% Unemployment 5.10% • Mankato is located just over an hour south of the Twin Cities Metro Area.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Schmidt, Realtors Fisher Group 2168 WEALTHY ST SE 1400 Madison Ave. Suite 616 East Grand Rapids, MI 49504 Mankato, MN 56001 (616) 459-0400 (507) 625-4715 www.cbgreatlakescommercial.com www.cbcfishergroup.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption q Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates p Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption q Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates n Rental Rates n 38
  • 39. MN - Minneapolis/St. Paul Metro Area MN - St. Cloud/CentralDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Minneapolis- • Piper Jaffrey & Co. renews 112,823 SF • Construction nearing completion for St. Paul- lease for 11 years. CBSA St. Cloud, MN Walmart Super Center. CBSA Bloomington, MN-WI • Expanding retailers commit to prime • Unemployment rate remains at 5.6%. space in strongest markets as a result Square Miles 1,753 Square Miles 6,063 of the gap being narrowed between • Five new Multi-Family buildings are their expectations and those of currently under construction. landlords. Population 189,957 • Multi-Family continues to be Population 3,286,547 • Xcel commits to 212,000 SF Opus strongest sector for highest built Office building in downtown transaction volume in area. Minneapolis. Households 73,818 Distressed and bank owned properties account for the majority of Households 1,267,913 • Mall of America announces 200 transactions. million SF addition for additional Household Household Retail space, a medical tower for Income $54,959 • Central MN market consists of Income $71,301 Mayo Clinic and a Hotel Tower. Median 200,000 +/- MSA. Major employment Median sectors include Manufacturing, • Well located Industrial properties Employees (Total) 91,676 Agricultural, Education and Medical.Employees (Total) 1,695,892 with high ceilings show lease terms favoring landlords. • The manufacturing sector added Unemployment 5.60% Unemployment 5.80% 4,200 jobs between March 2011 and March 2012 statewide.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Griffin Companies Orion Real Estate 1221 Nicollet Ave. S 630 First St. South Minneapolis, MN 55403 Waite Park, MN 56387 (612) 904-7833 (320) 251-1177 www.cbcgriffin.com www.cbcorion.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy n Vacancy q Absorption p Absorption q Absorption n Absorption p Rental Rates p Rental Rates q Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates p Rental Rates p Rental Rates q Rental Rates n 39
  • 40. MO - St. Joseph MS - Gulfport/BiloxiDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS St. Joseph, • St Joseph is located just 35 minutes Gulfport-Biloxi, • Port of Gulfport expansion begins. CBSA north of the Kansas City International CBSA MO-KS MS Airport on the Missouri River. It • Margaritaville casino (a 68,000 SF has access to I-29, a major north property) opens, bringing over 1,000 Square Miles 1,661 south Interstate Highway providing Square Miles 1,503 jobs to the community. a corridor between Mexico and Canada and US Hwy 36, which is the • Subdivision buyers return. major east west route thru Northern Population 127,090 Population 240,010 • New Hotels begin construction. Missouri. • This market is located in the heart of Households 51,821 the Life Sciences Industry with over Households 94,854 30 of the major companies located here. Household Household Income $44,333 • Boehringer Ingelheim Vetmedica is Income $53,669 Median Median expanding and building a 100,000 SF Office building.Employees (Total) 48,146 Employees (Total) 86,844 • The new Easttown Business Park is complete and offering excellent Industrial building sites. A 60,000 SF Unemployment 6.70% shell building is planned to be built Unemployment 8.90% in 2012. • Rosecrans Memorial Airport, which serves civilian and military needs, is located 3 miles west of the cityCONTACT . It boasts two fully ILS-equipped CONTACT runways and provides capacity for Coldwell Banker Commercial any size aircraft. Coldwell Banker Commercial General Properties Alfonso Realty, LLC 2700 N. Belt Hwy. 625 Courthouse Rd. • St Joseph is served by the Union St. Joseph, MO 64506 Gulfport, MS 39507 (816) 364-2700 Pacific Railway and the Burlington (228) 287-1200 Northern-Santa Fe Railway to provide www.cbcworldwide.com direct access to all parts of North America.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy n Vacancy q Absorption p Absorption n Absorption n Absorption p Rental Rates q Rental Rates n Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy p Absorption p Absorption p Absorption p Absorption q Rental Rates p Rental Rates p Rental Rates p Rental Rates q 40
  • 41. MT - Billings NE - LincolnDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • New 220,000 SF Scheels Sporting • Westfield Mall was purchased in a CBSA Billings, MT Goods store under construction. CBSA Lincoln, NE group of malls by Starwood. • Vacancy is falling due to the strong • Completion of 175,000 SF Square Miles 4,683 demand created by jobs in Energy, Square Miles 1,414 headquarters for Assurity Life near Retail & Medical. downtown Lincoln. • Over 1,000 Multi-Family units • $13.7 million in permits provided for Population 155,673 planned or under construction in Population 299,958 new Industrial space. 2012/2013. • Whole Foods planned as anchor Households 63,905 • Contributing factors to increased Households 126,751 tenant with Public Schools building home sales include low taking 30,000 SF with 11,600 unemployment and population SF adjacent Retail space in the Household growth due to the booming energy Household development. Income $53,585 sector. Income $55,280 Median Median • Lincoln boasts second lowest • Energy and agricultural industries are unemployment in the nation.Employees (Total) 69,806 driving growth in Eastern Montana. Employees (Total) 142,514 • Billings is the nearest commercial hub to the Bakken oil boom. Unemployment 4.90% Unemployment 3.70%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial CBS Thompson Realty Group 1215 24th St West 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 q Vacancy q Vacancy p Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates q Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy N/A Absorption p Absorption p Absorption p Absorption N/A Rental Rates n Rental Rates p Rental Rates q Rental Rates N/A 41
  • 42. NV - Reno/Sparks NJ - CentralDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Reno-Sparks, • Delucchi Lane, with 206 units, is on NY-Northern • Hoffman LaRoche’s announcement of CBSA the market for $9.8 million. CBSA the closing of their Nutley, NJ facility NV NJ-Long Island and shedding of 1,000 jobs was a • Apple will invest $1 billion in Reno major blow to the area. However, Square Miles 6,606 over the decade. Square Miles 6,726 small and medium size bio-tech companies are filling many voids left • Renown Health purchased a 39,000 by larger pharmaceutical companies. SF building in Downtown. Population 420,676 Population 19,124,092 • Vacancy is leveling off, with realistic • Apple is building a 320 acre pricing beginning to match demand. datacenter 15 miles east of Reno. Households 164,527 Households 7,086,346 • Most new construction is limited • A 99 Cent Store opened in July 2012. to public works and build to suit projects. Household • Average Multi-Family price is Household Income $61,308 $30,000-35,000 per unit. Income $65,253 • The Residential market is picking up Median Median with lower interest rates and sellers adjusting pricing to meet marketEmployees (Total) 208,488 Employees (Total) 7,711,074 demand. • Trimmed down small and medium companies are forging ahead. Unemployment 11.70% Unemployment 9.60% • It is the most affordable suburb of Manhattan.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Clay and Associates Feist & Feist Realty Corp. 5011 Meadowood Circle, Suite 201 180 Mt. Airy Road, Suite 200 Reno, NV 89502 Basking Ridge, NJ 07920 (775) 829-5900 (908) 696-1500 www.cbcreno.com www.feistandfeist.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy n Vacancy p Absorption n Absorption n Absorption p Absorption q Rental Rates n Rental Rates n Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates q Rental Rates p 42
  • 43. NJ - Morris County NJ - NorthernDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS NY-Northern • Northern NJ continues to be a NY-Northern • Drug Maker Hoffman LaRoche will CBSA bargain for Class A and B Office CBSA be leaving New Jersey closing their NJ-Long Island NJ-Long Island space. The vacancy rate is high and facility in Nutley and eliminating the prices are very reasonable. 1,000 jobs. Square Miles 6,726 Square Miles 6,726 • The Retail space is hot in NJ. There • Realogy is relocating to a 250,000 SF are some great locations available Office facility in Madison. and quite a few high end markets for Population 19,124,092 Population 19,124,092 • There is little new construction with Retail growth. fewer than 400 new commercial • If you are interested in building new construction permits taken out in NJ Households 7,086,346 commercial buildings the land is very Households 7,086,346 in 2012 . reasonably priced. • Vacancy rates in most asset classes Household • North Jersey is a great melting pot Household are remaining stable. Income $65,253 of businesses, and most national Income $65,253 Median franchises find their way into the Median • Residential real estate sales are market. increasing but prices are remainingEmployees (Total) 7,711,074 Employees (Total) 7,711,074 soft. • New Jersey’s unemployment rate is 9.6% as of July 2012, making it a Unemployment 9.60% Unemployment 9.60% great location for new companies to relocate to. A great number of educated, experienced and talented unemployed people are available.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Morris Plains NRT - Parsippany 1767 Route 10 1 Campus Dr. Morris Plains, NJ 07960 Parsippany, NJ 07728 (973) 267-3030 (888) 829-0221 www.cbcworldwide.com www.cbcnrtnewjersey.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy q Vacancy N/A Vacancy p Absorption q Absorption p Absorption p Absorption N/A Rental Rates q Rental Rates q Rental Rates N/A Rental Rates N/AINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy N/A Vacancy q Absorption q Absorption p Absorption n Absorption N/A Rental Rates q Rental Rates q Rental Rates N/A Rental Rates N/A 43
  • 44. NM - Albuquerque NY - AlbanyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Albuquerque, • Target is currently building a new Albany • GlobalFoundries announced a $2.3 b CBSA 155,481 SF store in Winrock Town CBSA Schenectady- expansion of the cleanroom at its Fab NM Center, in NE Albuquerque. Lulu Troy, NY 8 semiconductor facility, located just Lemon and J. Crew open new stores north of Albany, NY. When completed, Square Miles 9,288 in ABQ Uptown. Square Miles 2,817 the semiconductor facility will represent a $6.9 b capital Investment • Multi-Family continues to excel. and 1,600 new jobs. Several new Apartment complexes Population 863,887 Population 859,707 are either under construction or • NY’s Center for Economic Growth has planned for construction. contracted with Prime Regional Center, LLC, a sister company of Coldwell Households 333,497 • Vacancy rates for Retail have declined Banker Commercial Prime Properties of Households 358,803 from 13% a year ago to 12.1% in Q2 Albany, to create and operate an EB-5 of 2012. Immigrant Investor Program Regional Household Household Center that will attract foreign Income $49,381 • Two new hospitals open in Rio Income $58,611 Investment and create jobs in Upstate. Median Rancho. Senior continuing care Median facility on tap for Corrales. • General Electric Co.’s new $100 mEmployees (Total) 313,234 Employees (Total) 351,131 battery factory in Schenectady, NY has • City of Albuquerque continues announced plans to double the plant’s to pursue a grocery store for the capacity. That means another $70 m “Downtown Area”. in local spending by the conglomerate Unemployment 7.40% Unemployment 7.90% — and another 100 jobs, bringing • More Retail space was occupied total employment at the facility to 450 during the first half of 2012 than in people. the past 3 years. • President Barack Obama made his third trip to the Capital Region. HeCONTACT CONTACT used the University at Albany’s College of Nanoscale Science and Engineering Coldwell Banker Commercial Coldwell Banker Commercial to tout his economic agenda. Las Colinas Prime Properties 4801 Lang Ave. NE, Suite 100 621 Columbia St. Albuquerque, NM 87109 Cohoes, NY 12047 • General Electric Co. plans to reorganize (505) 897-7227 (518) 785-9000 its energy business into three www.lcrealty.com www.coldwellbankeralbany.com standalone businesses in the Q4 of 2012, with GE Power and Water to be headquartered in Schenectady, NY.OFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy q Vacancy n Vacancy q Absorption q Absorption p Absorption n Absorption p Rental Rates q Rental Rates n Rental Rates q Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy q Vacancy q Absorption n Absorption p Absorption p Absorption p Rental Rates q Rental Rates p Rental Rates n Rental Rates p 44
  • 45. NY - Long Island NY - New York CityDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS NY-Northern • Office Market: Q2 2012 vacancy rate NY-Northern • Q2 vacancy rate ended at 7.1%, CBSA rose to 10.1%. Rental Rates down CBSA with a positive absorption rate of NJ-Long Island NJ-Long Island 1.5%. Net absorption down 161,448 1,263,000. Total positive absorption SF. for of 625,000 SF 2012. Square Miles 6,726 Square Miles 6,726 • Industrial Market: Q2 2012 vacancy • Class A Office market recorded a net rate up slightly to 5.6%. Rental Rates absorption of positive 324,240 SF up 2.4%. Net absorption positive at in the Q2, total positive absorption Population 19,124,092 Population 19,124,092 338,752 SF. of 535,933 SF for first half of 2012. Class B Office market recorded a net • Retail: Nassau and Suffolk County’s absorption 457,672 SF in Q2 with Households 7,086,346 vacancy rises to 5.5%. Households 7,086,346 total positive absorption of 95,369 SF for first half of 2012. Class C Office • Largest 2nd Quarter Office Lease: market recorded a net absorption Household 25,000 SF deal signed by Lewis Johs Household of 481,713 SF in Q2, total positive Income $65,253 Avallone & Aviles in Islandia. Income $65,253 absorption of 644,500 SF in the first Median Median half of 2012. • Largest Q2 Industrial Lease: 43,000Employees (Total) 7,711,074 SF lease signed by W.B. Mason in Employees (Total) 7,711,074 • Office Rental Rates Mid-Year Hauppauge. 2012: Class A, B, C overall: Downtown:$38.42, Midtown:$55.43, • Largest Q2 Retail lease: 68,000 SF Midtown South:$45.31 Unemployment 9.60% signed by Fairway in Westbury. Unemployment 9.60% • Largest Office lease signings 2012: Viacom Inc. (renewal)-Midtown 1,606,000 SF;Morgan Stanley (renewal)-Downtown 1,152,763 SF; Citibank (renewal)-Midtown 484,040CONTACT CONTACT SF. Coldwell Banker Commercial Coldwell Banker Commercial • Construction Activity - Office: Rosner & Associates Alliance Downtown: 8,279,280 SF with 3124 Expressway Dr. S. 1140 Avenue of Americas, 7th Floor Islandia, NY 11749 New York, NY 10036 3,216,072 SF preleased; Midtown: (631) 232-4400 (212) 344-0300 1,803,428 SF with 755,324 SF www.cbcli.com www.cbcalliance.com preleased; Midtown South: 400,000 SF with 36,000 SF preleased.OFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy N/A Absorption q Absorption q Absorption p Absorption N/A Rental Rates q Rental Rates q Rental Rates p Rental Rates N/AINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy N/A Vacancy p Absorption p Absorption n Absorption N/A Absorption p Rental Rates p Rental Rates p Rental Rates N/A Rental Rates p 45
  • 46. NC - Southeastern NC - Triad AreaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Wilmington, • Whole Foods opens its first store in Winston- • New Multi-Family development CBSA New Hanover County. CBSA projects are underway. NC Salem, NC • Several new Apartment complexes • Biotech has boosted Triad job market. Square Miles 1,924 are under construction. Square Miles 1,462 • There has been an increase in misc. • Two new Office buildings are under manufacturing jobs in Triad. construction. Population 357,853 Population 487,010 • Triad is seeing little momentum • There is a shortage of finished for sales from clothing to building residential lots in New Hanover materials. Households 151,270 County. Households 201,455 • Healthcare industry continues • Medical practice mergers continue to grow and expand facilities Household to grow. Household throughout the Triad. Income $50,107 Income $49,845 Median • Time Warner building sells to Medical Median • Triad home sales are up 2%, the best Practice for $5 Million. improvement since 2006.Employees (Total) 126,764 Employees (Total) 185,107 Unemployment 10.00% Unemployment 9.30%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Sun Coast Partners, LLC Triad, Realtors 1430 Commonwealth Dr. Suite 102 1505 Westover Terrace Wilmington, NC 28403 Greensboro, NC 27408 (910) 350-1200 (336) 761-5934 www.cbcsuncoast.com www.cbctriad.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy p Vacancy n Absorption n Absorption p Absorption n Absorption n Rental Rates n Rental Rates p Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy n Vacancy n Absorption n Absorption p Absorption q Absorption N/A Rental Rates q Rental Rates p Rental Rates n Rental Rates n 46
  • 47. NC - Triangle ND - Fargo/MoorheadDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Raleigh-Cary, • Total Triangle vacancy decreased in • North Dakota has become the CBSA Q2 2012 to 14.9%. CBSA Fargo, ND-MN United States number 2 state in oil NC production, bolstering the economy • Most of the vacancy decreases in Fargo and throughout the state. Square Miles 2,116 occurred in Class A Office and Flex Square Miles 2,810 space. • Costco broke ground on a new store spurring development along I-94, • Strongest performing submarkets southwest Fargo and West Fargo. Population 1,143,659 are Downtown Raleigh and Cameron Population 202,280 Village. • Apartment vacancy level is just below 5%. In the Fargo/Moorhead market, Households 452,721 • Highest vacancy submarkets are N Households 86,119 approximately 1,000 units will be Durham and RTP. built in 2012. Household • 1.9 million SF of sublease space is Household • Healthy agriculture remains a major Income $63,406 active in Triangle. Income $53,008 contributing factor to the Red River Median Median Valley’s healthy economy. • Many properties are trading asEmployees (Total) 441,442 Raleigh/Durham remains high on Employees (Total) 105,993 • The unemployment rate in Fargo/ investors’ radar. Moorhead remains consistently low, currently sitting at approximately 3.6%. Unemployment 8.00% Unemployment 3.60%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial TradeMark Properties First Realty 1001 Wade Ave., Suite 300 2731 12th Ave. S Raleigh, NC 27605 Fargo, ND 58103 (919) 782-5552 (701) 237-3369 www.cbctmp.com www.cbcfirstrealty.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy q Vacancy q Absorption p Absorption n Absorption p Absorption p Rental Rates n Rental Rates q Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates p 47
  • 48. OH - Lorain County OK - Oklahoma CityDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Cleveland- • Metals Fabricating Business moved Oklahoma City, • The energy sector is one of the CBSA Elyria-Mentor, into Lorain County. CBSA driving factors behind the unusual OK OH absorption. • Local economy jobs & manufacturing Square Miles 2,004 moved out due to downsizing, Square Miles 5,518 • Continental Resources moved their politics and overseas. headquarters from Enid, OK into the CBD of Oklahoma City. They took • New construction is slowly picking up over the home office tower of Devon Population 2,090,148 in Lorain County. Population 1,237,539 Energy that contained 19 floors with 300,000 SF. Devon Energy completed • Residential market in Lorain County is their 50 story tower for their home sluggishly improving. Households 500,869 office. Households 838,741 • Home values declined to • The energy service businesses have Household accommodate lower income Household taken nearly all of the 6,000 -12,000 Income $54,591 infrastructure Jobs (i.e. Retail -vs- Income $57,129 ft buildings with any yard space. Median Manufacturing). Median There is very little new product being brought into the market place. • Lorain county is positioned very Employees (Total) 502,994Employees (Total) 954,471 excellently on shores of Lake Erie • The Outlet Mall containing 370,000 with great potential for recreation & SF that recently opened in Aug. 2011 import / export industry. on the west side of OKC was the Unemployment 7.50% Unemployment 5.00% largest retail development completed in the U.S. The initial sales volume surprised the developers so they are already planning expansion.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Hunter Realty Hocker & Associates 24600 Detroit Rd., Suite 245 4323 Classen Blvd. Suite 100 Westlake, OH 44145 Oklahoma City, OK 73118 (440) 892-7040 (405) 840-4545 www.cbchunter.com www.hocker.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy q Absorption n Absorption n Absorption n Absorption p Rental Rates q Rental Rates q Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy n Vacancy q Vacancy q Absorption n Absorption n Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates p Rental Rates p 48
  • 49. OR - Portland OR - SalemDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Portland • Commercial vacancy in Office and • Commercial activity is centered Vancouver- Retail increased slightly to 5.4% and CBSA Salem, OR around I-5 and major arterials with CBSA Beaverton, 10.8%, respectively. Industrial vacancy activity focused on existing and re- OR-WA decreased to 7.2%. purposed properties. Square Miles 1,925 Square Miles 6,684 • The largest Retail signings include • Approximately 300 - 400 Multi-Family a 25,436 SF Barnes & Noble and a units are being added with the 28,490 SF Punch Bowl Social, a new majority of activity in West Salem. Population 399,131 restaurant/entertainment concept. Population 2,261,246 • Formerly the largest project under • In the Office sector, cap rates bank control, The Meridian was averaged 7.7% for the first half of Households 148,354 purchased by Killian Pacific with Households 878,239 2012 with sales activity down over exciting plans for the future, the same period in 2011 and $152 including long-term ownership and average price per SF. Household substantial Investment upgrades. Household Income $49,102 Income $58,563 • Clear Channel and Daimler Truck Median • Petco recently opened next to Trader Median America signed two of the largest Joes and Planet Fitness signed a lease Office leases in the Portland market Employees (Total) 119,269 in North Salem. Buffalo Wild WingsEmployees (Total) 952,611 this year. also opened its first Valley eatery. • Pacific Foods signed an Industrial • The Department of Fish & Wildlife lease for over 300,000 SF at the Nike Unemployment 9.10% will be relocating to Fairview Unemployment 8.00% Distribution Center, and Industrial Industrial Park in South Salem. sales are averaging $59/SF on 28 transactions in 2012. • PacTrust is pushing dirt on its first medical building along Kuebler Blvd. • Multi-Family vacancy fell slightly to at Battlecreek.CONTACT 2.6% keeping it below 3% for more CONTACT than a year while rental rates are Coldwell Banker Commercial rising at a moderate pace. Coldwell Banker Commercial Mountain West Real Estate Mountain West Real Estate 960 Liberty St SE, Suite 250 960 Liberty St SE, Suite 250 Salem, OR 97302 Salem, OR 97302 (503) 587-4777 (503) 587-4777 www.cbcre.com www.cbcre.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy p Vacancy n Absorption q Absorption q Absorption q Absorption q Rental Rates p Rental Rates q Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy p Vacancy N/A Absorption p Absorption p Absorption q Absorption N/A Rental Rates p Rental Rates p Rental Rates q Rental Rates N/A 49
  • 50. PA - Pittsburgh PA - SoutheasternDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • CBD development is on the rise. Philadelphia- • Office vacancy rates for secondary CBSA Pittsburgh, PA Camden- and tertiary areas are near all time CBSA • Office occupancy rate is higher than Wilmington, high levels. PA-NJ-DE-MD national average. Square Miles 5,280 • Office vacancy is on rise in remote • There is an increase in sales of Square Miles 4,630 areas to higher density business investment property. centers; employees want convenient access to Retail and food services. Population 2,355,582 Population 5,979,545 • Multiple new construction sites in the works. Commercial and Retail sectors Households 991,049 are struggling to lure tenants. Households 2,318,224 • Sellers are coming to realization that Household the commercial property market will Income $52,255 Household recover very slowly and that rental Median Income $65,847 rates will take many years to return to Median 2005 levels.Employees (Total) 1,064,896 • Bucks County is still a haven Employees (Total) 2,533,973 for company relocation out of Philadelphia and New Jersey seeking Unemployment 7.30% tax relief. Unemployment 7.50%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial NRT - Pittsburgh CBH 9600 Perry Highway, Suite 200 1094 Second St. Pike Pittsburgh, PA 15237 Richboro, PA 18954 (412) 548-1064 (215) 357-2880 www.cbcworldwide.com www.cbchearthside.comOFFICE RETAIL OFFICE RETAIL Vacancy N/A Vacancy N/A Vacancy p Vacancy p Absorption p Absorption p Absorption q Absorption q Rental Rates p Rental Rates n Rental Rates q Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy N/A Vacancy N/A Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates p 50
  • 51. PA - York/Lancaster/Harrisburg SC - CharlestonDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS York-Hanover, • Kingston Shopping Center sold for Charleston- • Cable manufacturer Nexans invests CBSA $7.6 million at an 8% cap rate. CBSA North $85 million on its first North PA Charleston, SC American facility located in the • A 99-room Hampton Inn and Suites Charleston Area. Square Miles 904 is planned in York Township. Square Miles 2,591 • 40,000 SF Hobby Lobby moves to Mt. • There are signs of new projects, Pleasant. especially Retail, coming out of the Population 430,707 ground in central PA. Population 665,272 • Vacancy is falling due to greater demand for Charleston MSA. • For the first 5 months, residential Households 169,750 sales were up 5% compared to 2011. • Multi-Family market has increased by Households 262,007 1,000 units. • IRS & Social Security began Household construction on a new office on Household Income $55,365 Industrial Highway in York. 70 new Income $57,059 Median jobs will be created. MedianEmployees (Total) 168,402 • Central PA is very tourist oriented: Employees (Total) 253,170 20 minutes to the Gettysburg battle fields, 30 minutes to the Amish farms of Lancaster and 30 minutes to Unemployment 8.10% Hershey Park and other attractions. Unemployment 8.50%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Bennett Williams Atlantic International, Inc. 110 N. George St. 4th Floor 3506 W. Montague Ave. Suite 200 York, PA 17401 Charleston, SC 29418 (717) 843-5555 (843) 744-9877 www.bennettwilliams.com www.cbcatlantic.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy q Vacancy q Absorption n Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates p 51
  • 52. SC - Columbia SC - Greenville/SpartanburgDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • The global economy is increasingly • The largest signing in 2012 across Greenville- CBSA Columbia, SC CBSA Mauldin present in the Upstate SC market. all asset classes is 186,000 SF Office 250 companies from 27 countries are lease for SC Department of Revenue Easley, SC represented including: Adidas, BASF, at 300 Outlet Pointe Blvd. BMW, Electrolux, Freightliner, Fujifilm, Square Miles 3,701 Square Miles 2,002 Robert Bosch and Siemens. • New Construction deliveries in 2012: Office - 1 building 4,000 SF; Industrial • BMW made another $900m investment - 0 (1 building under construction); and created an additional 300 new jobs. Population 751,082 Population 644,419 Retail - 1 building 2,937 SF. Total employment at the 4m SF plant is 7,500. Since BMW came to South • The residential market has seen a Carolina, the plant has produced 2m Households 300,796 15% reduction in inventory YTD as vehicles; 70% for export. Households 263,044 compared with the same period last year. • Greenville based Michelin announced a Household Household Income $52,689 $750m investment in multiple facilities • The Main St. corridor is heating up Income $49,487 Median within the state including Upstate with several new merchants. Also, Median Anderson County. the University of SC is attempting toEmployees (Total) 287,817 put student housing in an existing • GE Aviation has expanded their R&D Employees (Total) 288,021 450,000 SF Office building on Main facility in Greenville resulting in St. additional hires. The plant designs and manufactures blades used in their jet Unemployment 9.10% • There are 12 Colleges or Universities Unemployment 8.60% engines. in Columbia, including the University of South Carolina, and Educational • Additional recent announcements Services account for 12% of include those by SEW-Euro Dr. in Columbia’s employment. Spartanburg, a manufacturer of Industrial gear motors and electronics;CONTACT CONTACT AVX, a global manufacturer of electrical Coldwell Banker Commercial Coldwell Banker Commercial and interconnect components; Belgian United, Realtors Caine company Picanol with a machine repair 1711 Gervais St., Suite 300 117 Williams St. and replacement parts facility. Columbia, SC 29201 Greenville, SC 29601 (803) 799-4663 (864) 250-2800 • Downtown Greenville continues to www.cbccarolinas.com www.cbccaine.com attract Office users, residents to newly constructed Apartment and Condo projects and the accompanying dining and entertainment facilities.OFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy p Absorption q Absorption q Absorption p Absorption q Rental Rates p Rental Rates p Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy N/A Vacancy q Vacancy q Absorption q Absorption N/A Absorption p Absorption p Rental Rates q Rental Rates N/A Rental Rates p Rental Rates p 52
  • 53. SC - Myrtle Beach SD - Rapid CityDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Myrtle Beach- • New to the area are Target, Marshalls • Walmart adds second store to Conway-North and three Petco’s. CBSA Rapid City, SD market. Sam’s Club expands. Target CBSA Myrtle Beach, adds Super Store. SC • Vacancy is finally falling. Landlords are seeing reduced rent and trying Square Miles 6,247 • Healthcare and Retail Industry drives Square Miles 1,134 what ever it takes to make deals. marketplace with over 300,000 served. • New Retail in the area include: Walgreens, three Petcos, nine Dollar Population 125,797 • New construction is up 10% YOY. Population 266,384 Generals, Dollar Tree and two McDonalds. • Residential sales are up 10% YOY. Households 50,124 • For the residential market, lower • Healthcare and Retail real estate Households 110,858 prices and better sales are working values have been stable throughout through bank inventory. Household the downturn. Household Income $52,281 Income $43,184 • Foreclosures are a great deal and get Median • Rapid City is the gateway to the Median sold at a brisk pace. Black Hills located in Western South Employees (Total) 51,878 Dakota. Abundant recreation for the • Over the summer season, outdoor enthusiast with amenitiesEmployees (Total) 112,291 accommodation and Retail sales tax such as: snow skiing, snowmobiling, reports revenue was up 7 to 8 % YTD. boating, hiking, hunting, fishing and Unemployment 4.20% much more. Unemployment 10.10%CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Chicora Real Estate Lewis Kirkeby Hall 10225 North Kings Hwy. 2710 West Main St. Myrtle Beach, SC 29572 Rapid City, SD 57702 (843) 272-8700 (605) 343-2700 www.cbcommercialchicora.com www.cbcworldwide.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption n Rental Rates q Rental Rates q Rental Rates n Rental RatesINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy N/A Vacancy q Absorption n Absorption p Absorption N/A Absorption p Rental Rates q Rental Rates p Rental Rates N/A Rental Rates p 53
  • 54. TN - Chattanooga Metro Area TN - Knoxville/EastDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Chattanooga, • Amazon opened two distribution • Knoxville’s recent rankings: “6th Best CBSA centers in 2011, creating over 2,000 CBSA Knoxville, TN City for Jobs,” Forbes, 2012; “8th TN-GA jobs. Fastest Growing City in the U.S.,” CNN Money, 2012; “Best City for Jobs for Square Miles 2,089 • Volkswagen opened a new assembly Square Miles 1,857 Spring, Manpower, 2012”; #4 High plant which produces the Passat. The Tech Hub, Business Facilities, 2011; plant will employ 3,500 by year’s end. #1 for Green Job Growth, Brookings Institute, 2011. Population 526,490 • Whirlpool has opened a new 1.4 Population 702,994 million SF green production facility. • In most sectors, the vacancy rate is They are phasing in production lines falling or unchanged because of the Households 211,265 and will be at full capacity by end Households 297,456 improving economy. of year. Whirlpool employs 1,600 workers. • A $150,000,000 Proton Therapy Household Household Center is being constructed in the Income $47,279 • Wacker Chemie purchased 350 Income $48,362 Dowell Springs Office Park in West Median acres for a $5.4 billion new Median Knox County. plant to manufacture hyperpureEmployees (Total) 208,265 polycrystalline silicon. This facility is Employees (Total) 307,125 • Academy Sports and Outdoor scheduled to open in 2014 and will building was sold for $9,500,000. employ 650 workers. The 12 story Kimberly-Clark building in downtown Knoxville was sold for Unemployment 8.20% • This market is positioned for Unemployment 7.00% $3,550,000. tremendous growth in the next 5 years. In addition to the new • Knoxville continues to be a haven manufacturing facilities, many for restaurants with the third supporting suppliers are looking to Cheddar’s being built and the Tex- relocate to the area. Mex restaurant Chuy’s, both underCONTACT CONTACT construction in West Knoxville. • Commercial activity is still somewhat Coldwell Banker Commercial flat. Coldwell Banker Commercial • The first five months of this year saw Hamilton & Associates, LLC Wallace and Wallace a significant increase in the single 2650 Peerless Rd. NW 124 N. Winston Rd. family residential market; it was up Cleveland, TN 37312 Knoxville, TN 37919 (423) 476-5535 (865) 690-1111 27% from January through May of www.hamiltoncommercial.com www.cbcww.com this year compared to the same time period in 2011.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy q Vacancy q Absorption p Absorption q Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy n Vacancy q Absorption n Absorption p Absorption n Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates n 54
  • 55. TX - Abilene TX - AustinDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • A new sports rehab center has been Austin-Round • Austin ranked first place in CBSA Abilene, TX built in the area. CBSA Forbes’ list of “The Best Cities for Rock, TX Jobs” due to its strong growth in • Most new construction is built to suit. manufacturing, technology-related Square Miles 2,745 Square Miles 4,224 employment and business services. • Residential market is very active. Average sale price is increasing. • Austin has the newest housing stock in America: precisely 14.97% of the Population 160,753 • This area is active in the oil and wind Population 1,730,983 homes in the Austin area have been industries. built since 2005, according to an On Numbers analysis of U.S. Census Households 64,687 • Abilene is the host of the 2nd largest Households 665,762 Bureau data. wind farm in the world. • Development is soon to begin on a Household Household downtown Multi-Family community, Income $43,771 Income $57,641 to be called Eleven. The Eleven Median Median Apartments, along with several new Mixed-Use Retail and OfficeEmployees (Total) 60,543 Employees (Total) 622,577 buildings, restoration projects, and city Investment will contribute to the area turning the corner into a growing district. Unemployment 6.30% Unemployment 6.40% • The groundbreaking of a Multi-Family housing project near the University of Texas, a $26 million commercial high-rise student housing project, marks the largest privately fundedCONTACT CONTACT Asian commercial real estate project to date in Austin. Coldwell Banker Commercial Coldwell Banker Commercial Panian & Mash Realtors United, Realtors • IKEA completed the expansion of 2500 S. Willis 2121 Sage Rd., Suite 150 Abilene, TX 79605 Houston, TX 77056 its Central Texas store in Round (325) 690-4055 (713) 840-5000 Rock in June 2012. The store grew www.cbcworldwide.com www.cbcunitedrealtors.com nearly 54,000 SF to the new size of approximately 306,000 SF.OFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy q Vacancy q Absorption N/A Absorption N/A Absorption p Absorption p Rental Rates N/A Rental Rates N/A Rental Rates q Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption N/A Absorption N/A Absorption p Absorption q Rental Rates N/A Rental Rates N/A Rental Rates q Rental Rates q 55
  • 56. TX - Bryan/College Station TX - Dallas/Fort WorthDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS College • There is an influx of over 3,500 Class Dallas-Fort • Dallas/Fort Worth’s “DFW” regional CBSA Station-Bryan, A beds coming on line within the CBSA Worth-Arling- population increased 52% between TX 2013 year. ton, TX 2000 and 2010 to a total of 6.5m, making it the 4th largest region in Square Miles 2,106 • The former Plaza Hotel has been Square Miles 8,990 the U.S. Population is expected to imploded, and site preparations reach 9.8m by 2035. are underway for the new Student Housing and Retail project. • Employment growth has tracked Population 214,971 Population 6,521,652 population and currently stands at • Retail is stable along the 3.9m employees. Employment is Greensprairie corridor with the expected to reach 6.1m by 2035. addition of a Taco Bell, two Banks, Households 88,655 Households 2,375,452 and The Pool Guy Supply store. • DFW by the numbers: headquarters to 24 Fortune 500 Companies; Household Household 158 Companies ranked in The Inc Income $39,968 Income $63,092 5000’s Fastest Growing; 6th largest Median Median Economy in the US and 14th in the World. Forbes Magazine ranks it asEmployees (Total) 60,491 Employees (Total) 2,621,455 #5 “Where a Paycheck Stretches the Furthest”. • Dallas has the advantage of a Central Unemployment 6.80% Unemployment 7.40% Time Zone and mild climate. • Texas does not have a State Income Tax and is a right-to-work state. • Dallas is located at the intersectionCONTACT CONTACT of five major interstate highways, is a rail hub for Burlington Northern/ Coldwell Banker Commercial Coldwell Banker Commercial Santa Fe and Union Pacific, and is an United, Realtors S.A. air hub for American and Southwest 2121 Sage Rd., Suite 150 3010 LBJ Freeway airlines with over 56m passengers Houston, TX 77056 Dallas, TX 75234 (713) 840-5000 (972) 503-8600 through DFW airport. www.cbcunitedrealtors.com www.coldwellbanker-sa.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy q Vacancy q Absorption n Absorption n Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy p Vacancy q Vacancy q Absorption n Absorption q Absorption p Absorption p Rental Rates n Rental Rates q Rental Rates n Rental Rates p 56
  • 57. TX - Houston TX - LubbockDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Houston-Sugar • Houston ranked second place in • Lubbock Unemployment Rate at 5.7% CBSA Land-Baytown, Forbes’ list of “The Best Cities for CBSA Lubbock, TX as of August 1, 2012. TX Jobs”, and 20th on their list of “The Best Places for Business and Careers.” • Lubbock ranks on Forbes list of “Best Square Miles 8,928 Square Miles 1,799 Cities For Jobs.” Lubbock is ranked • Houston ranked third on Yahoo 9th out of the 242 metropolitan areas Real Estate’s list of popular moving ranked. destinations this year due to available Population 5,937,339 Population 279,239 • Lubbock County named in Top 10 job opportunities, a reasonable cost of living, and plenty to do for singles, Mid-Sized Counties In Nation – based couples and families. on 2012 Fourth Economy Index Households 111,087 Listing. Households 2,084,052 • Residential sales prices broke records in May, according to the Houston • Lubbock Economic Index continues Household Association of Realtors: the average Household upward trend – up 3.5% in the first Income $65,395 price for single-family homes rose Income $41,203 half of the year and 2.6% in Q2. Median Median 8.5% to $237,083, the highest level ever in Houston, while the sales • Lubbock housing market is strong – volume reached the highest level in Employees (Total) 101,281 June 2012 sales are up 12% over JuneEmployees (Total) 2,246,860 four years. 2011. • A major East End property along • Squeezing The Shale: Hydraulic Buffalo Bayou, consisting of 136 Unemployment 6.50% Fracturing Releases The Oil - Four Unemployment 7.50% acres, was recently introduced onto Sevens Exploration Company LTD, the market, offering the possibility leased mineral rights from the City of significant near-downtown of Lubbock for 6,261.94 acres in the redevelopment. The new Dynamo area for $2.19 million. Stadium and planned light-rail lineCONTACT are other substantial projects in the CONTACT East End area. Coldwell Banker Commercial Coldwell Banker Commercial United, Realtors • Phase 1 of Generation Park, a 3,635 Rick Canup, Realtors 2121 Sage Rd., Suite 150 4924 S. Loop 289 Houston, TX 77056 acre master-planned commercial Lubbock, TX 79414 (713) 840-5000 development, has begun in (806) 793-0888 www.cbcunitedrealtors.com northeast Houston. The development www.cbclubbock.com will straddle the Sam Houston Tollway and is the first ESE Energy Development in the world.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates p Rental Rates p 57
  • 58. TX - Rio Grande Valley TX - San AntonioDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Rio Grande • Molina Healthcare of Texas comes to San Antonio, • This area is seeing considerable CBSA Edinburg, TX. CBSA activity from Financial Service City-Roma, TX TX Centers. • New Sam’s Club and Costco open at Square Miles 1,223 same time. Square Miles 7,340 • There is net absorption across all product lines due to limited new • Office occupancy rising significantly. construction. Population 63,261 • Land prices are rising significantly. Population 2,093,608 • There is limited construction in the area and most is primarily Owner/ • Low inventory of climate controlled User. Households 16,766 Warehouse space. Households 749,986 • The residential market has substantial • New brand names are coming to the improvements, 13+ percent year over Household area rapidly. Household year in existing and new home sales Income $23,550 Income $52,389 due to well managed new inventory. Median Median • Changes in the market include: jobEmployees (Total) 8,935 Employees (Total) 730,244 creation, lower unemployment, domestic immigration, as well as legal international immigration, primarily from Mexico. Unemployment 12.00% Unemployment 7.30% • Federal spending has been reduced substantially, and replaced with private-sector activity, but credit remains tight.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial La Mansion Alamo City 508 E. Dove 18756 Stone Oak Pwky., Suite 202 McAllen, TX 78504 San Antonio, TX 78258 (956) 631-1322 (210) 483-6250 www.cbclamansion.com www.cbcAlamo.comOFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates n Rental Rates p Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy q Vacancy n Absorption n Absorption p Absorption p Absorption n Rental Rates n Rental Rates n Rental Rates p Rental Rates n 58
  • 59. TX - Waco, McLennan County UT - Salt Lake CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Baylor University approved the Salt Lake City, • Major Office, Retail, and Industrial CBSA Waco, TX construction of a new football CBSA tenants are moving into the market UT stadium to be located on I-35 and such as Adobe, McCann-Erickson, Sun the Brazos River. Products, Trader Joes, Scheel’s Sporting Square Miles 1,042 Square Miles 9,539 Goods, and Longhorn Steakhouse. • Baylor University, the City of Waco, and Texas State Technical College • Class A Office vacancy rates edged have partnered to build the “BRIC” down. Retail vacancy rates have Population 234,783 Population 1,140,107 - Baylor Research and Innovation stabilized as tenants move to more Collaboration. quality space. Industrial vacancy edged upwards 1-2%. As absorption Households 91,531 • Space X is expanding their operation Households 376,706 edges up, vacancy rates will continue just outside of Waco in McGregor, TX. to slowly move down to healthier levels. Household • Carter Blood Care is breaking ground Household Income $44,485 on their new regional headquarters Income $66,176 • Big box Industrial construction Median in August 2012. Median delivered close to 900,000 speculative construction. In Office, speculativeEmployees (Total) 94,029 • Renovations to the Waco Convention Employees (Total) 567,447 construction has returned after a few Center were recently completed. years. Owner user construction has been fueled by a couple of major transactions. Construction in Retail is Unemployment 7.40% Unemployment 6.00% fueled by large freestanding tenants. • Residential development land sales are up as activity heats up. • Local economic reports brightened inCONTACT CONTACT January 2012, an improvement from the past couple of downturn years Coldwell Banker Commercial Coldwell Banker Commercial fueling an optimistic outlook for the Jim Stewart, Realtors NRT - Salt Lake City remainder of the year. 500 N. Valley Mills Dr. 6550 South Millrock Dr., Suite 200 Waco, TX 76710 Salt Lake City, UT 84121 (254) 776-0000 (801) 947-8300 • Liquor laws are becoming more www.cbc-waco.com www.coldwellutah.com business friendly attracting larger sit down restaurants. Employment is projected to grow 2.5% which more than double the national average.OFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy n Vacancy q Vacancy p Absorption n Absorption n Absorption p Absorption p Rental Rates q Rental Rates n Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy n Vacancy p Vacancy q Absorption n Absorption n Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates p Rental Rates p 59
  • 60. VA - Lynchburg WA - King CountyDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Lynchburg continues to hold on to Seattle • Institutional Investment sales are CBSA Lynchburg, VA their larger tenants due mostly in CBSA Tacoma trading at extremely low CAP rates. part to the steady economy in this Bellevue, WA area. • The Multi-Family sector is still very Square Miles 2,124 Square Miles 5,894 strong. Rental rates continue to rise • Vacancy rates have leveled out and along with sale prices. don’t seem to be rising or falling at this time. • Retail developers are starting to dip Population 248,585 Population 3,433,786 their toes back into the water. Some • Small construction projects are taking speculative land purchases have place throughout the Lynchburg area, taken place in the first two Quarters Households 100,680 with more emphasis on expanding or of 2012. Households 1,373,207 altering existing buildings. • Residential developers continue Household • The Residential market is seeing Household to look for good deals on fully Income $46,100 continual growth in the low to mid Income $67,763 developed plats. Most of the fully Median price ranges. Higher end houses are Median developed plats have already been slowly starting to move at discounted purchased, and developers areEmployees (Total) 96,796 prices. starting to consider buying raw land. Employees (Total) 1,502,591 • The unemployment rate is showing • Overall Puget Sound employment a slight downward motion but many outlook is very positive. Unemployment 7.10% businesses are hesitant with the Unemployment 7.80% approaching election. • This area continues to be an attractive market to outside developers/investors mostly due inCONTACT part to the various incentives the CONTACT city offers to revamp the downtown Coldwell Banker Commercial market. Coldwell Banker Commercial Read & Co. Danforth 2508 Langhorne Rd. 33313 First Way South Lynchburg, VA 24501 Federal Way, WA 98003 (434) 455-2285 (253) 874-3200 www.cbcread.com www.cbcdanforth.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy q Vacancy n Vacancy n Absorption n Absorption p Absorption p Absorption p Rental Rates q Rental Rates p Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy q Vacancy q Vacancy q Absorption n Absorption p Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates p 60
  • 61. WA - South Puget Sound WA - TacomaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • In Retail, WinCo Foods and Trader Joe’s have experienced great success Seattle- • Office activity has been up but CBSA Olympia, WA CBSA Tacoma- somewhat stagnant with only 1 moving into the market. REI launch Bellevue, WA new Office building delivered in the proved very successful, as well. The Office sector is still undergoing a last year in Tacoma and 4 others in Square Miles 727 correction as the State of Washington Square Miles 5,894 suburban Pierce County, primarily consolidates operations. medical. Net absorption is negative through the first half of 2012, but • Multi-Family stats are up significantly expected to finish around zero by Population 253,654 Population 3,433,786 as the rental market continues to year end, with vacancies. improve as a result of foreclosures and short sales, which account for 31% of • Apartment activity for new Households 100,414 the residential sales in this market. construction delivered only 50 units Households 1,373,207 in Tacoma in 2011 with almost • Industrial vacancies continue to climb 600 expected by the end of 2012. Household as contraction in the construction Household Vacancies are still tight at 4.6%, down Income $62,921 Income $67,763 from 5% by EOY 201 so rent growth Median markets continues. Median is accelerating. New projects in the • Some notable properties have been pipeline will likely curb rent growthEmployees (Total) 68,733 foreclosed by creditors and are being Employees (Total) 1,502,591 into 2013. marketed now. The Gateway project in Lacey, anchored by retailer Cabela’s, is • Industrial absorption is still largely a 200+ acre Mixed-Use development dominated by aerospace, with the Unemployment 7.70% that is receiving strong interest from Unemployment 7.80% recent activity and forecast for developers. Prices on land, however, Boeing subcontractors. However, continue to soften. there has been activity with smaller users between 5000-50,000 SF doing • The Residential markets are beginning deals in small bay/incubator space. to pick up. After reaching a bottom inCONTACT pace of sales last winter, sales picked CONTACT • Retail – Pierce County absorption in up steam as the year went on. Around Retail has been negative for several Coldwell Banker Commercial Coldwell Banker Commercial years, leaving landlords with stiff the Sound, 2011 sales were up more Evergreen Olympic Realty, Inc. Offenbecher than 7% over 2010. competition and tenants salivating 3333 Capitol Blvd. S. 929 East Main Suite 320 Olympia, WA 98501 Puyallup, WA 98371 for great opportunities with big (360) 352-7651 • Owner-occupied commercial spaces (253) 840-5574 incentives for quality tenants willing www.cbcworldwide.com continue to enjoy favor with lenders in www.offenbecher.com to do long term deals. Point Ruston, the market. a 250,000 SF Mixed-Use lifestyle center, is bringing tenants to the area.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption q Rental Rates q Rental Rates q Rental Rates n Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy n Vacancy q Absorption q Absorption p Absorption n Absorption p Rental Rates q Rental Rates n Rental Rates n Rental Rates p 61
  • 62. WA - Vancouver & Southwest WI - Janesville/BeloitDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Portland- • The largest major tenant moving • Miniature Precision Components Inc Vancouver- into Vancouver is the Farwest Steel CBSA Janesville, WI of neighboring Walworth County CBSA Beaverton, Corporation that will occupy a took possession of 250,000 SF of OR-WA 350,000 SF custom built facility. a 700,000 SF former GM logistics Square Miles 720 building in Janesville. This occupancy Square Miles 6,684 • The commercial market is gradually is on the heels of John Deere’s improving in all sectors. Absorption logistics company, Landair, which is up, in part due to very little new took 237,500 SF in Q1. Population 160,224 construction being added to the Population 2,261,246 existing. • Janesville/Beloit and the Stateline area of WI & IL are experiencing an • The Farwest Steel Corporation Households 63,135 Industrial vacancy rate of about 12%, Households 878,239 building is a 350,000 SF which rivals the greater Chicago area. manufacturing facility. The cost of Proximity to markets, easy access to I construction was $50,000,000. Household 39/90 & available logistics buildings Household Income $54,346 have been a plus. Income $58,563 • Residential development is cautiously Median Median increasing. Developers are having • The city of Janesville broke ground their best sales success with Employees (Total) 63,044 on a $1.2 m innovation center whichEmployees (Total) 952,611 moderately priced homes in the will provide a 22,000 SF flex space $150,000 range. for startups. Kerry Americas added 30,000 SF to its 260,000 SF campus • Vancouver is one of the four counties Unemployment 9.40% and North American corporate Unemployment 8.00% in the Portland, Oregon metropolitan headquarters. area. The cost of living is less in Vancouver, and to a certain degree, • Residential transactions are up 8% is considered a bedroom community for the first two Quarters of 2012 & for Portland’s larger employment average values up 3%.CONTACT base. CONTACT • Retail is beginning to reawaken. Coldwell Banker Commercial • Washington does not have a state Coldwell Banker Commercial Former high profile locations that Jenkins & Associates income tax while it does have sales McGuire Mears & Associates were experiencing vacancies are 1500 D St. 400 Midland Court, Suite 101 tax. Oregon is the opposite - there’s starting to fill up, and interest by Vancouver, WA 98663 Janesville, WI 53546 (360) 699-4494 a graduated state income tax but no (608) 752-6325 nationals is increasing with several www.cbcworldwidenw.com sales tax. As a result, Portland has www.mcguiremears.com letters of intent pending contracts for the major Retail presence and a much purchase and lease. higher concentration of Office space.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy n Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates p Rental Rates n Rental Rates n Rental Rates nINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates p Rental Rates n Rental Rates n 62
  • 63. WY - Cheyenne Metro 2012Blue BookDEMOGRAPHICS MARKET HIGHLIGHTS • NCAR (National Center for CBSA Cheyenne, WY Atmospheric Research) super computer center will be operational this year. This will create high paying Square Miles 2,686 jobs and a new research platform. International Markets • Microsoft data center is to begin construction soon. New construction Population 89,439 jobs and new positions will open up down stream. Households 36,986 • Niobrara oil development is continuing but at a slower pace than initially expected. Household Income $60,634 • Residential real estate market is Median heating up.Employees (Total) 31,977 • Swan Ranch Industrial Development is continuing. New rail spurs are now available. Unemployment 6.30%CONTACT Coldwell Banker Commercial The Property Exchange 255 Storey Blvd. Cheyenne, WY 82009 (307) 632-6481 www.wyomingcommercialbrokers.comOFFICE RETAIL Vacancy n Vacancy n Absorption q Absorption q Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Absorption p Absorption p Rental Rates n Rental Rates p 63
  • 64. Bermuda Canada - BellevilleDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • 141 Front Street, a showcase Canada • Eastern Ontario Industrial market CBSA Bermuda building in the City of Hamilton CBSA Eastern remains solid. was completed in September 2010, Ontario has been a huge success with 75% • Many power of sale properties have Square Miles 21 occupancy. Square Miles 372 m2 been absorbed. • Vacancy level in secondary space has • Little new construction in increased due to high level of new Commercial/Retail/Multi-Family Population 64,237 Population 100,000 sectors. space on the market at affordable prices. • Multi-Family units are selling at never Households 34,110 • Waterloo House, approx 20,000 SF seen before low CAP rates. Households 30000 of premier waterfront property in Hamilton, is on track with completion • Besides Multi-Family, the market Household expected in 2013; 40% is already Household remains cautious Income $67,183 USD preleased. Income $52,803 USD Average Average • CFB Trenton will have close to 1 • Residential data for 2011 billion in infrastructure upgrades overEmployees (Total) 39,457 (government records) is incomplete, the next 10 years Employees (Total) 48,760 but it is expected that 2011 sales totals will be similar to 2010 with average price of property lower. Unemployment 6.00% Unemployment 6.30% • Slowly, more people are looking to purchase in this market but with longer transaction time. • As an island destination, foreignersCONTACT often look to purchase in Bermuda. CONTACT It is expected that government will Coldwell Banker Commercial soon relax purchasing requirements Coldwell Banker Commercial Bermuda Realty for foreigners. Ekort Realty, Brokerage 11 Par la Ville Rd. 100 Bell Blvd. Suite 200 Hamilton, n/a HM HX Belleville, Ontario K8P 4Y7 (441) 292-1793 (613) 969-9901 www.bermudacommercial.com www.cbcommercial.caOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy n Vacancy n Absorption q Absorption q Absorption n Absorption n Rental Rates q Rental Rates q Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy N/A Vacancy n Vacancy n Absorption q Absorption N/A Absorption n Absorption n Rental Rates q Rental Rates N/A Rental Rates n Rental Rates p 64
  • 65. Canada - Greater Toronto Area Canada - Kelowna/West KelownaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Canada • Target leases 180,000 SF of Office in Canada - • Highly desirable lifestyle region of CBSA Greater the Toronto Airport Corporate Centre. CBSA Kelowna/West Canada strategically located between Toronto Area Kelowna Vancouver, Calgary and Edmonton/ • Greater Toronto Area (GTA) Office Fort McMurray. Square Miles 2,279 vacancy is 5.1% and Industrial is Square Miles 1,142 3.5%. • Many smaller wholesale/distributors have vacated the market in favor of • Across the GTA, 5.1 million SF of servicing this area from their nearest Population 5,583,064 Office and 4.5 million SF of Industrial Population 187,234 large regional centre. Absorption of are under construction. these vacant units is proving difficult. • Strong sales growth in the first half • Key infrastructure includes the UBCO Households 1,800,000 Households 67,000 of 2012, sale prices up 7.1% year over campus, a new bridge, new hospitals year. in Vernon and Kelowna, highway Household Household upgrades, and airport expansion. Income $63,500 USD • There is strong demand for logistics Income $60,524 CND Average space , 26+ FT clear heights. Median • The Residential market has lost values over the past 5 years and • Locally, Oakville has the highest net there is an unbalanced inventoryEmployees (Total) 2,919,410 Employees (Total) 100,278 Office rates in West GTA at $17.76 with excess inventory forcing prices per SF. downward. Unemployment 7.20% Unemployment 7.20% • New development in the past 5 years includes 8 major businesses plus a Walmart. • Kelowna is the largest market between Greater Vancouver andCONTACT CONTACT Calgary. Coldwell Banker Commercial Coldwell Banker Commercial Integrity Real Estate, Brokerage Horizon Realty 1384 Cornwall Rd. #14-1470 Harvey Ave. Oakville, Ontario L6J 2R4 Kelowna, British Columbia V1Y 9K8 (905) 338-8877 x228 (250) 763-4343 www.cbci.ca www.bccommerciallands.comOFFICE RETAIL OFFICE RETAIL Vacancy n Vacancy N/A Vacancy p Vacancy p Absorption n Absorption N/A Absorption q Absorption q Rental Rates p Rental Rates N/A Rental Rates q Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy N/A Vacancy p Vacancy q Absorption p Absorption N/A Absorption q Absorption p Rental Rates p Rental Rates N/A Rental Rates q Rental Rates q 65
  • 66. Canada - Nanaimo, BC Canada - Ottawa, OntarioDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Canada • Wholesale Sports Outdoor Outfitters Canada • Federal Government continues CBSA came to Nanaimo. CBSA Ottawa, relocation of departments to suburbs. Nanaimo, BC Ontario EDC relocation within downtown frees • Nanaimo vacancy stays low, business up 300,000 SF. Canada Council (85,000 Square Miles 494 sales strong. Square Miles 1,801 SF) is relocating to new 150 Elgin in 2013. Smart Centers and Target invade • City reports many new development suburban retail developments. More permits ready to go. large U.S. retailers are expected. Population 83,810 Population 1,200,000 • Nanaimo residential sales strong • Vacancy rates in Downtown office again for another year. (6.2%) are expected to decline slightly Households N/A to end 2012 with an increase to 6.5% Households 420,000 • Overall investor confidence is high in by end 2014. Suburban vacancy (9.5%) Nanaimo. is expected to decline to 8% by end Household Household 2014. Many factors contribute such as Income $45,937 USD • Nanaimo is an ocean side University Income $93,280 USD the lack of government programs and Median City, with low crime rates and lots of Median world investment funds. jobs.Employees (Total) N/A • New Downtown office towers (840,000 Employees (Total) 743,100 SF) and East Suburban office tower (270,000 SF) are the ‘good news’ items in commercial real estate. Residential Unemployment 4.80% Unemployment 6.20% condos and large suburban retail centers are rising on regular basis. • Residential condo developments close to downtown and affluent suburban neighborhoods are in demand andCONTACT CONTACT construction is very active. This new trend will drive the need for new retail Coldwell Banker Commercial Coldwell Banker Commercial developments. Vancouver Island Realty Ltd First Ottawa Realty, Brokerage 17-4890 Rutherford Rd. 1419 Carling Ave., Suite 219 Nanaimo, British Columbia V9R-4Z4 Ottawa, Ontario K1Z 7L6 • Recent Federal Government layoffs (250) 756-9700 (613) 728-2664 have hindered overall growth in the www.cbcworldwide.com www.ottawacommercialproperties.com local economy, including business expansion plans.OFFICE RETAIL OFFICE RETAIL Vacancy q Vacancy p Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption q Rental Rates n Rental Rates p Rental Rates n Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates p Rental Rates n Rental Rates p 66
  • 67. Canada - Waterloo Region Colombia - CartagenaDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Canada • The City of Kitchener has introduced Colombia - • The top three global risk rating firms CBSA Waterloo plans to develop an “innovation CBSA - Standard and Poor’s, Moody’s and Cartagena Region district” in the downtown core, part Fitch - guarantee that Colombia is of its overall economic development a safe place to invest, providing the Square Miles 528 and growth management strategy. Square Miles 372 m2 country with a BBB investment grade. The plan would effectively convert an eight-acre property owned by • According to JP Morgan, Colombia the city into an urban research and is and will be the second most Population 543,700 Population 1,230,443  business park. appealing country for investment in Latin America over the next three • The “innovation district” is a plan years. designed to attract creative talent, Households 302,149 Households 194,890 build on the cluster of high-tech • In a comparison of 183 countries, the companies moving into the nearby World Bank (doing business 2011) Household Tannery district and intensify Household described Colombia as the fifth $77,760,000 Income $74,490 CDN development along the new transit Income country in the world and the first in COL Median Average corridor. Latin America in protecting Investors. • Wilfrid Laurier University has become Employees (Total) 364,285 • Cartagena-Colombia is a UNESCOEmployees (Total) 282,300 a student landlord with a $58.9m World Heritage Site and is a favorite purchase of 12 apartment buildings vacation and retirement destination adjacent to its main campus. Eric for many thousands of Europeans Unemployment 6.40% Reiner of CBC Peter Benninger Realty Unemployment 10.40% and North Americans. facilitated the deal. • Cartagena is considered one of the • At their recent annual meeting, RIM best cities to live in Colombia and (Research in Motion) emphasized South America. that they are committed to WaterlooCONTACT Region and plan to remain one of CONTACT • New construction of high rise the community’s largest employers, buildings, major chain hotels and Coldwell Banker Commercial currently employing approximately Coldwell Banker Commercial shopping centers are taking over Peter Benninger Realty, Brokerage Cartagena de Indias Cartagena de Indias. 9,000 in the region. 508 Riverbend Dr. Bocagrande, Ave San Martin Kitchener, Ontario N2K 3S2 Calle 7 Local 8 (519) 743-5211 • Employment in the region is up Cartagena, Bolivar n/a www.coldwellbankercommercial.ca with an increase of 14,000 jobs. 57 (5) 6658800 Manufacturing is also up. www.cbcartagenadeindias.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates q Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy q Vacancy N/A Vacancy N/A Absorption p Absorption p Absorption N/A Absorption N/A Rental Rates q Rental Rates p Rental Rates N/A Rental Rates N/A 67
  • 68. Greece IrelandDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Investors are in anticipation for major • State Agency NAMA plans to invest CBSA Greece privatization projects of Hellenic CBSA Ireland €2billion in unfinished developments. Republic Assets. • ECB cuts interest rate to 0.75%, its Square Miles 50,949 • Vacancy is rising as the general Square Miles 27,027 lowest ever level. economic activity is shrinking and enterprises, as well as households, • Residential prices rise marginally in reduce their activities or move to Dublin for 3 straight months. Population 11,354,000 Population 4,400,000 smaller size spaces. • Residential prices outside Dublin • Private construction activity in the continue to fall but at a slower rate. Households 3,664,392 first 4 months of 2012 decreased by Households 1,800,000 39.2%. • Commercial property market is showing signs of stabilizing. Household • Residential transactions are on a Household Income € 20,751 downturn for the fifth consecutive Income € 33,000 • Residential bank lending continues Average year. This is the same for property Median to retract. prices.Employees (Total) 3,813,601 Employees (Total) 2,000,000 • Recent national elections created optimism on the market for economic stabilization and growth. Unemployment 22.60% Unemployment 14.50% • There are several opportunities in the Greek real estate market-especially in second/vacation home market and premium properties because prices are very low.CONTACT CONTACT Coldwell Banker Commercial Coldwell Banker Commercial Hellas Property Consultants 8 Omirou St. & Panepistimiou Ave. 23 Lower Leeson St. Athens, Attica 10564 Dublin, Dublin Dublin 2 +30 32 28228 + 353 1 4110012 www.coldwellbanker.gr www.coldwellbankercommercial.ieOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy p Absorption q Absorption q Absorption q Absorption q Rental Rates q Rental Rates q Rental Rates n Rental Rates qINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy p Vacancy p Vacancy q Vacancy q Absorption q Absorption q Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates n Rental Rates q 68
  • 69. Mexico - Mexico City The NetherlandsDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS • Cinemex bought the string “Lumiere” The • Nuon Energy signed a lease CBSA Mexico as part of its expansion plan. Cinemex CBSA agreement for more than 26,000 sq. Netherlands was acquired four years ago by GM meters in a high quality renovated Entertainment Company (owner of building. Square Miles 80 MM Cinemas) for $315 million. Square Miles 41,528 • Despite the lower volume per • “Corproación Mexicana de transaction, the total volume Restaurantes” will bring to Mexico of transactions has increased Population 23,000,000 Population 16,800,000 “Olive Garden”, “Red Lobster” and significantly (18% in the Q1). “The Capital Grille” Walmart de Mexico reported a 4.1% annual • New developments are very limited. Households N/A increase in sales through promotions. Households 7,500,000 The 4 large cities in the Netherlands have demanded signed agreements • The industrial market increased with tenants in case of a new Household approximately 500,000 SF in Q2 Household development. Income $31,000 MXN 2012 and it is expected that over the Income € 36,000 Average Average • The residential market is not next two years, 2 million SF will be incorporated to the inventory. improving significantly. TheEmployees (Total) 8,400,000 Employees (Total) 10,000,000 temporarily lowered transfer tax has • Absorption of office space reached not increased transactions on the more than 2 million SF - a record residential market. quarter in this market. Unemployment 4.80% Unemployment 5.50% • There is a strong focus on alternative • The construction activity reports use and transformation of office that more than 10 million SF will be space. This is an excellent solution incorporated into the inventory in the for the demand of more Mixed-Use next three years. areas.CONTACT • The average rent prices in the CONTACT • The yield levels for Office buildings industrial and office markets have are becoming higher and higher. Coldwell Banker Commercial remained stable in the first six Coldwell Banker Commercial Due to forced sales a large number Mexico months of 2012. The Netherlands of opportunities will come to the Montes Urales 415 A. van Leeuwenhoekweg 38 C20 market. This will offer interesting 1 Lomas de Chapultepec Alphen aan den Rijn Mexico, Mexico 11000 Holland 2408 AN opportunities for new strong focused 01 52 55 41621000 (3162) 9494090 developers/investors. www.cbcmexico.mx www.coldwellbanker.nlOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy n Vacancy p Vacancy p Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates n Rental Rates q Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy q Vacancy N/A Vacancy p Vacancy p Absorption q Absorption N/A Absorption n Absorption q Rental Rates n Rental Rates N/A Rental Rates q Rental Rates q 69
  • 70. Turkey - Istanbul United Arab EmiratesDEMOGRAPHICS MARKET HIGHLIGHTS DEMOGRAPHICS MARKET HIGHLIGHTS Turkey - • The economy is very strong right United Arab • Tim Hortons, a major Canadian QSR, CBSA now. CBSA opened its first franchise in the UAE Istanbul Emirates with 127 more to come in the GCC • Foreign investments are increasing. region. Square Miles 2,205 Square Miles 32,278 • Real estate laws are changing in favor • The start of this year marked an of foreign investors. increase in the population by crossing the 2 million mark for the emirate of Population 12,000,000 • High return rate of investments in Population 8,264,070 Dubai. rentals, app. annual 8%-10%. • The news of Dubai being one of the Households 2,800,000 • Very high investments predicted by Households N/A strongest contenders for World EXPO the government in real estate over 2020 has put a renewed confidence in the next 10 years. the business fraternity of Dubai. Household Household Income N/A Income N/A • The Arab uprising contributed to a Median Median surge in demands for the Residential as well as the Commercial propertyEmployees (Total) 3,570,000 Employees (Total) 4,100,000 market. And once again, Dubai has proved to be a safer bet in the Middle East. Unemployment 9.80% Unemployment N/A • Emaar Properties, the leading developer of Dubai, announced their first off-plan project in Q2 of 2012. • The key feature of UAE being a tax- free and a duty-free haven with strongCONTACT CONTACT trading hub serving the GCC/AFRICA/ CIS countries has attracted all the Coldwell Banker Commercial Coldwell Banker Commercial major players to have a base in U.A.E. Turkey U.A.E. Ridvanpasa sok. 12,Goztepe, Kadikoy (Mega Homes Real Estate Brokerage L.L.C.) Istanbul, Turkey 34760 Office # 2804, Citadel Tower +90 216 4118030 Business Bay www.coldwellbanker.com.tr Dubai, Dubai P.O. Box 73618 +971 (4) 439 1200 www.coldwellbanker-ae.comOFFICE RETAIL OFFICE RETAIL Vacancy p Vacancy p Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates p Rental Rates pINDUSTRIAL MULTI-FAMILY INDUSTRIAL MULTI-FAMILY Vacancy n Vacancy p Vacancy p Vacancy q Absorption n Absorption N/A Absorption q Absorption p Rental Rates n Rental Rates p Rental Rates q Rental Rates p 70
  • 71. Index by MarketAbilene, TX 55 Minneapolis/St. Paul Metro Area, MN 39Acadiana, LA 35 Modesto, CA 10Albany, NY 44 Montgomery, AL 5Albuquerque, NM 44 Morris County, NJ 43Anchorage, AK 5 Myrtle Beach, SC 53Arcadia, CA 8 Napa Valley/Napa County, CA 10Athens, GA 24 Naples/Ft. Myers, FL 20Atlanta, GA 25 New Orleans, LA 35Austin, TX 55 New York City, NY 45Billings, MT 41 Northern, NJ 43Birmingham, AL 4 Oklahoma City, OK 48Bloomington/Normal, McLean County, IL 29 Orange County, CA 11Boise, ID 28 Orlando, FL 21Brevard County, FL 15 Peoria County, IL 31Bryan/College Station, TX 56 Pioneer Valley, MA 37Central, NJ 42 Pittsburgh, PA 50Champaign/Urbana, IL 30 Polk County, FL 21Charleston, SC 51 Portland, OR 49Charlotte/Sarasota Counties, FL 16 Rapid City, SD 53Chatham County, GA 25 Redding, CA 11Chattanooga Metro Area, TN 54 Reno/Sparks, NV 42Cheyenne Metro, WY 63 Rio Grande Valley, TX 58Chicagoland, IL 30 Sacramento Greater Area, CA 12Coeur d’ Alene, ID 29 Salem, OR 49Columbia, SC 52 Salt Lake County, UT 59Columbus, GA 26 San Antonio, TX 58Dallas/Fort Worth, TX 56 San Gabriel/San Fernando Valley, CA 12Danbury/Upper Fairfield/New Haven, CT 14 Sangamon County, IL 32Daytona/Ormond Beach, Volusia County, FL 16 Sarasota/Manatee/Charlotte Counties, FL 22Delaware County, IN 32 Sedona/Verde Valley, AZ 7Destin, FL 17 South Puget Sound, WA 61Dothan, Houston County, AL 4 Southeastern, NC 46Fairfield County, CT 14 Southeastern, PA 50Fargo/Moorhead, ND 47 Southern, FL 22Florida Keys, FL 17 Southern, KY 34Gainesville, FL 18 Southwest Riverside County, CA 13Garden City, KS 33 St. Cloud/Central, MN 39Greenville/Spartanburg, SC 52 St. Joseph, MO 40Gulfport/Biloxi, MS 40 St. Lucie County, FL 23Hinesville/Fort Stewart, GA 26 Suburban, MD 36Honolulu, HI 28 Sussex County, DE 15Hot Springs, AR 6 Tacoma, WA 61Houston, TX 57 Tallahassee, FL 23Indian River County, FL 18 Tampa/St. Petersburg, FL 24Inland Empire North/Victor Valley, CA 8 Triad Area, NC 46Jacksonville, FL 19 Triangle, NC 47Janesville/Beloit, WI 62 Vancouver & Southwest, WA 62Jonesboro, AR 6 Waco, McLennan County, TX 59Kansas City Metro Area, KS 33 Western, CO 13King County, WA 60 Western, MI 38Knoxville/East, TN 54 York/Lancaster/Harrisburg, PA 51Lake Oconee/Lake Sinclair, GA 27 Lakeland/Winter Haven, FL 19 INTERNATIONAL MARKETSLincoln, NE 41 Bermuda 63Little Rock, AR 7 Canada Long Island, NY 45 - Belleville 64Lorain County, OH 48 - Greater Toronto Area 64Los Angeles, CA 9 - Kelowna/West Kelowna 65Los Angeles, Westside, CA 9 - Nanaimo, BC 65Louisville Metro, KY 34 - Ottawa, Ontario 66Lubbock, TX 57 - Waterloo Region 66Lynchburg, VA 60 Colombia - Cartagena 67Macon, Bibb County, GA 27 Greece 67Madison/St. Clair Counties, IL 31 Ireland 68Mankato, MN 38 Mexico - Mexico City 68Melbourne/Brevard County, FL 20 The Netherlands 69Midcoast, ME 36 Turkey - Istanbul 69Middle, MI 37 United Arab Emirates 70
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