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CBC Blue Book Market Review

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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. …

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.
• 200+ companies within the CBC organization
• Over 60 U.S. markets submitted
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 is a key differentiator that helps our clients obtain real-time market information in order to make informed real estate
decisions.

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  • 1. 2011 Coldwell Banker Commercial Blue Book Market Review
  • 2. About the Coldwell Banker Commercial® 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. • 200+ companies within the CBC organization • Over 60 U.S. markets submitted 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 is a key differentiator that 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 deemed fromsources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis andLoopNet. Demographic information was pulled from EASI Demographics. Unemployment numbers weretaken from Bureau of Labor Statistics.
  • 3. Table of Contents ContentsAL - Dothan, Houston County 2 NC - Raleigh 18AR - Hot Springs 2 NJ - Central 19AR - Little Rock 3 NJ - Northern 19CA - Coachella Valley 3 NM - Albuquerque 20CA - Inland Empire / Victor Valley 4 NV - Carson City 20CA - Los Angeles 4 NY - Manhattan 21CA - San Diego 5 NY - Upstate 21CA - San Fernando / San Gabriel Valley 5 OK - Oklahoma City 22CO - Durango 6 OK - Tulsa 22FL - Charlotte County 6 OR - Portland 23FL - Jacksonville 7 OR - Salem 23FL - Orlando 7 PA - Central Region 24FL - Southern Region 8 PA - Pittsburgh 24GA - Athens 8 SC - Charleston / Tri-County 25GA - Atlanta 9 SC - Columbia 25HI - Honolulu 9 SC - Greenville / Spartanburg 26ID - Coeur d’Alene 10 TN - Chattanooga Metro Area 26IL - Bloomington / Normal 10 TN - Knoxville 27IL - Champaign County 11 TX - Dallas 27IL - Chicago 11 TX - Lubbock 28IL - DuPage 12 TX - San Antonio 28IN - Delaware 12 TX - Southeast Region 29KY - Louisville 13 TX - Tarrant County (Fort Worth area) 29LA - Lafayette 13 TX - Victoria, Victoria County 30ME - Midcoast / Southern Regions 14 UT - Salt Lake County 30MN - Minneapolis 14 WA - Clark County 31MO - Southwest 15 WA - Puyallup, Pierce County 31MO - St. Louis 15 WI - Rock County / Stateline Area 32MO/KS - Kansas City 16 Index by State 33MT - Billings Metro 16 Index by Market 33NC - Charlotte Metro Area 17NC - Greensboro / High Point Metro 17NC - Greenville 18
  • 4. AL - Dothan, Houston County AR - Hot Springs Demographics Market Highlights Demographics Market Highlights • College of Osteopathic Medicine Hot Springs, • Sports Clips moved into the MSA Dothan, AL MSA AR to be built by regional medical area. center. Square Miles 580 Square Miles 677 • Vacancy rates are falling. • Creation of Interstate Highway Connector remains probable. • Burger King, Subway, Orr Honda and Jose’s are under Population 100,673 • Country Crossing Entertainment Population 98,888 construction. Complex plans to reopen. • Competitive rental rates are Households 40,642 • Fourth quarter 2010 showed Households 43,175 contributing to vacancy rates improvement across the board falling. for commercial real estate. Household Household • Increased activity overall in the Income $64,593 • Unemployment rate continues Income $56,350 market. Average Average to fall. • No change in labor force. Employees • Avoid higher operational costs in Employees 49,960 32,750 (Total) (Total) Florida and Georgia by locating to the very southeast corner of Alabama and still be able toUnemployment 8.0% service neighboring states. Unemployment 8.0%Total Consumer Total Consumer $2,085,853 $2,214,734 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Alfred Saliba Realty RPM 410 N. Shady Lane 401 Section Line Road Dothan, AL 36303 Hot Springs, AR 71913 (334) 793-6600 (501) 520-4000 www.alfredsalibacommercial.com www.cbcrpm.com Office Retail Office Retail Vacancy n Vacancy q Vacancy q Vacancy q Absorption n Absorption p Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy n Vacancy N/A Vacancy q Absorption p Absorption n Absorption N/A Absorption p Rental Rates p Rental Rates n Rental Rates N/A Rental Rates q 2
  • 5. AR - Little Rock CA - Coachella Valley Demographics Market Highlights Demographics Market Highlights Little Rock- Riverside-San North Little • Southwest Power Pool developed MSA Bernardino- • Lender foreclosures on MSA Rock-Conway, a $63m Office campus, Ontario, CA commercial properties has AR employing 450 people with increased. combined salaries and benefits Square Miles 7,207 Square Miles 771 of $53m. • Retail leasing is still very slow. • St. Vincent Medical purchased • Sales of bargain priced 37 acres in West Little Rock Population 2,146,000 properties have improved. Population 383,813 to develop an ambulatory healthcare and wellness • Office tenants are taking campus. advantage of low rental rates. Households 713,238 Households 160,330 • New Office construction remains • Independent restaurants are at its lowest level in many years, Household expanding. Household while the market continues to Income $68,556 Income $76,375 deal with absorption. Average • Unemployment is still high. Average • The market is beginning to Employees • Slow recovery is still predicted 568,727 Employees 221,680 see quarterly improvement (Total) for the Coachella Valley (Total) economy due to high national in absorption rates for all categories. unemployment and lack of Unemployment 13.9% confidence in federal and stateUnemployment 6.9% government fiscal controls. Total Consumer $39,686,161Total Consumer Expenditure $8,409,840 Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Hathaway Group Lyle & Associates 2100 Riverdale Road, Suite #100 78000 Fred Waring Drive, Suite 200 Little Rock, AR 72202 Palm Desert, CA 92211 (501) 663-5400 (760) 772-6400 x231 www.hathawaygroup.com www.cbclyle.com Office Retail Office Retail Vacancy p Vacancy n Vacancy n Vacancy q Absorption n Absorption p Absorption n Absorption p Rental Rates q Rental Rates q Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy p Vacancy q Vacancy n Absorption n Absorption n Absorption p Absorption n Rental Rates p Rental Rates q Rental Rates n Rental Rates q 3
  • 6. CA - Inland Empire / Victor Valley CA - Los Angeles Demographics Market Highlights Demographics Market Highlights Riverside-San Los Angeles- MSA Bernardino- • Significant shift of Office space MSA Long Beach- • Google has added 6,000 jobs, Ontario, CA within the Victor Valley due Santa Ana, CA many in this area (along with to relocation of major County three new leases). Square Miles 20,052 Offices. Square Miles 4,061 • Rent declines have decelerated • Retail: Golden Corral, Marshall’s, if not flattened; however, leasing Burlington Coat Factory and concessions are still plentiful. Population 2,025,856 Ross entered the market. Population 9,887,964 • No significant new construction • New construction started in 4Q of commercial or Industrial 2010 for private jail expansion in buildings in Southern California. Households 637,015 Households 3,285,297 Adelanto. • Class A product in all categories Household • In excess of 75% Multi-Family Household remains strong, B and C are Income $66,077 in the Victor Valley were built Income $80,635 starting their recovery in many Average between 1980 and 1989 and Average submarkets, but not all. virtually no units have been Employees 587,580 added since early 2000. Employees 3,818,423 • The biggest change is in (Total) (Total) consumer’s attitudes, there is • Investment, grade-A, single more confidence now than there tenant Retail selling at 5.25% has been seen in the last 2-3Unemployment 9.9% CAP rates. Unemployment 11.7% years. • Builders are back in the market • Overall, in spite of some buying finished and tentative remaining soft spots in the localTotal Consumer Total Consumer $34,859,808 lots. $182,904,681 real estate markets, this area is Expenditure Expenditure seeing more and more signs of improvement. Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Real Estate Solutions WESTMAC 15500 West Sand Street, 2nd Floor 1515 Sepulveda Boulevard Victorville, CA 92392 Los Angeles, CA 90025 (760) 684-8000 (310) 478-7700 www.CBCdesert.com www.westmac.com Office Retail Office Retail Vacancy p Vacancy n Vacancy p Vacancy n Absorption n Absorption p Absorption q Absorption n Rental Rates q Rental Rates q Rental Rates n Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates p Rental Rates q Rental Rates p Rental Rates n 4
  • 7. CA - San Diego CA - San Fernando / San Gabriel Valley Demographics Market Highlights Demographics Market Highlights San Diego- Los Angeles- Carlsbad- • Callaway Golf announced this MSA Long Beach- • Office transactions: Los Angeles MSA World Airports - 104,155 SF; San Marcos, year that they will be moving Santa Ana, CA CA some of their operations out of Live Nation, Inc - 100,500 the market. SF. Industrial: Casedge Inc Square Miles 4,061 - 449,350 SF; CEVA Direct - Square Miles 4,200 284,885 SF. • Demand from owner/users for well priced highly functional • Vacancy continued to increase in buildings has helped to absorb Population 9,887,964 2010 although at a much slower Population 3,071,264 much of the inventory of unsold rate. That trend is expected to properties that were built at the reverse itself in 2011. end of the previous cycle. Households 3,285,297 Households 1,129,261 • New construction is virtually • New construction is mostly non-existent and does not nonexistent with the exception Household impact this market. Due to the Household of a handful of build-to-suits (Isis Income $80,635 perceived positive change in Income $89,161 Pharmaceuticals, J&D Labs and Average market trends, developers are Average looking at land again. Amerillium) Employees 3,818,423 • A light drop in vacancy is Employees (Total) (Total) 1,227,936 • Positive net absorption of 2m expected in all product types as SF for 2010 should lead to absorption continues to outpace increased rental rates in mid to the release of space in direct late 2011. Unemployment 12.6% and sub-leasing. There doesUnemployment 10.1% not appear to be any rental rate • Tenant activity in the large size growth in 2011. segments is very strong, but the smaller incubator market Total Consumer $182,904,681 • There is a more optimisticTotal Consumer Expenditure outlook in general and with a $67,074,796 is still very weak with vacancy Expenditure continuation of the momentum almost double that of the overall from 2010, the market expects Industrial market. better numbers in all product Contact Contact types. Coldwell Banker Commercial Coldwell Banker Commercial • The labor force has not shifted Almar Real Estate Group North County significantly, which is what you 3655 Nobel Drive Suite 120 801 N Brand Boulavard, Suite 180 would expect in LA, due to its San Diego, CA 92122 Glendale, CA 91203 (858) 200-8888 (818) 334-1900 diverse business demographic. www.cbcsocal.com www.cbcnco.com Office Retail Office Retail Vacancy q Vacancy n Vacancy n Vacancy n Absorption p Absorption q Absorption n Absorption q Rental Rates p Rental Rates q Rental Rates p Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy p Absorption p Absorption q Absorption p Absorption q Rental Rates p Rental Rates n Rental Rates n Rental Rates q 5
  • 8. CO - Durango FL - Charlotte County Demographics Market Highlights Demographics Market Highlights • Vitamin Cottage Natural Grocers Punta Gorda, • This market has been pretty MSA Durango, CO MSA FL opened in Durango. stagnant and there have been no major changes. Square Miles 1,692 • Aaron’s Rent-to-Own opened in Square Miles 694 Durango. • Vacancy rates are falling because there are no jobs. • Mercury Payment Systems plans Population 51,899 a new Office village. Population 156,239 • There has been no new construction in this market. • Leasing activity in all categories Households 21,722 is showing signs of improvement. Households 70,703 • The market will not improve until people go back to work. • Residential sales activity Household improving. Household Income $76,152 Income $66,208 Average • Healthcare sector of labor force Average increasing. Employees Employees 21,431 38,556 (Total) • Durango area commercial (Total) construction has slowed, but there are new projects on theUnemployment 7.5% horizon for the coming year or Unemployment 12.0% two. Retail vacancies are slowly reducing, but rents are not increasing. Durango is the majorTotal Consumer Total Consumer Expenditure $1,253,117 business and tourist center in Expenditure $3,829,863 southwest Colorado and home to Fort Lewis College. Along with a new major trauma medical center, the area has a varied Contact Contact labor base and relatively stable Coldwell Banker Commercial economy. Coldwell Banker Commercial Heritage House Realtors Sunstar Realty, Inc. 785 Main Avenue 970 Kings Highway, Suite 2 Durango, CO 81301 Port Charlotte, FL 33980 (970) 259-3333 (941) 255-3497 www.realestatedurango.com www.sunstarcommercial.com Office Retail Office Retail Vacancy N/A Vacancy p Vacancy p Vacancy p Absorption p Absorption q Absorption q Absorption n Rental Rates q Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy q Vacancy N/A Vacancy n Absorption n Absorption p Absorption N/A Absorption n Rental Rates n Rental Rates n Rental Rates N/A Rental Rates q 6
  • 9. FL - Jacksonville FL - Orlando Demographics Market Highlights Demographics Market Highlights Jacksonville, • Havertys Furniture Inc. sold an Orlando- • Constar vacated 350,000 SF in MSA MSA FL Kissimmee, FL Industrial building located at Q4 7720 Philips Highway to Zawyer Square Miles 774 Realty LLC for $2.72m (about Square Miles 907 • Industrial absorption is positive $29 PSF). for two consecutive qtrs • Wood Partners acquired a 168- • New Amway Arena opens Population 859,268 unit Multi-Family building from Population 1,092,371 Focus Development for $14.2m • Overall markets appear to be (about $84,524 per unit). stabilizing. Households 338,464 Households 412,409 • Ironshore Capital acquired • The new Harry Potter Attraction “Water’s Edge”, a seven-story grows Universal Studios Household condominium building in Household attendance. Income $73,325 Income $71,611 Average Jacksonville Beach. Average • Unemployment declined by 30 • The City of Jacksonville has basis points. Employees Employees (Total) 434,366 awarded a $6.1m contract (Total) 626,718 to Petticoat-Schmitt Civil • The Central Florida market Contractors to complete appears to have found or be the San Marco Streetscape near a bottom in all propertyUnemployment 11.0% improvements. Unemployment 11.3% types. Prospects for 2011 are positive as REO is absorbed. • Stellar has been awarded a $3.5Total Consumer million contract to construct a Total Consumer $17,968,452 10,000 SF addition and a 7,000 $22,316,457 Expenditure Expenditure SF renovation at a Mandarin nursing home. Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Benchmark NRT - FL 4348 Southpoint Boulevard, Suite 310 901 North Lake Destiny Drive, Suite 110 Jacksonville, FL 32216 Maitland, Florida 32751 (904) 281-1990 (407) 539-1000 www.cbcbenchmark.com www.cbcworldwide.com Office Retail Office Retail Vacancy q Vacancy p Vacancy p Vacancy n Absorption p Absorption q Absorption p Absorption q Rental Rates q Rental Rates p Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy n Vacancy q Vacancy p Absorption q Absorption q Absorption p Absorption p Rental Rates p Rental Rates q Rental Rates p Rental Rates q 7
  • 10. FL - Southern Region GA - Athens Demographics Market Highlights Demographics Market Highlights Miami-Fort Athens-Clarke Lauderdale- • Multi-Family leads the way in MSA • The University of Georgia and the MSA County, GA Pompano South Florida. Medical College of Georgia have Beach, FL partnered to establish a campus • Industrial investment portfolio Square Miles 121 to be located on the 58-acre Square Miles 1,205 deals show strength. former U.S. Navy Supply Corps property in Athens, GA. • Office market hurt by lack of new tenants. Population 197,732 • Tripp Umbach, a medical Population 1,773,268 education planning organization, • Retail market vacancy at 6.7%. estimates that the regional Households 49,910 economic impact of the Athens • Office market vacancy at 14.7%. campus will be more than $567 Households 712,588 million annually, with 3,000 new • Industrial market vacancy at Household jobs and $17 million generated Household 9.4%. Income $48,834 in local government revenue by Income $78,939 Average 2020. Average • Market is slowly improving on the leasing side, with very few new Employees (Total) 35,805 • Tripp Umbach also estimates Employees 682,298 tenants entering the market. that at least $180 million will (Total) Investment / Portfolio sales are be invested commercially as picking up. Bank REO properties a result of medical research are increasing and are of better Unemployment 7.6% growth in the Athens area.Unemployment 11.8% quality. Total Consumer $2,291,829Total Consumer Expenditure $39,517,826 Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial NRT - FL Upchurch Realty 3837 NW Boca Raton Boulevard, #200 2405 West Broad Street Boca Raton, Florida 33431 Athens, GA 30606 (561) 479-1225 (706) 354-7870 www.cbcworldwide.com www.upchurchrealtycommercial.com Office Retail Office Retail Vacancy q Vacancy q Vacancy n Vacancy p Absorption p Absorption q Absorption p Absorption n Rental Rates q Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption n Rental Rates p Rental Rates q Rental Rates q Rental Rates n 8
  • 11. GA - Atlanta HI - Honolulu Demographics Market Highlights Demographics Market Highlights Atlanta-Sandy MSA Springs- • HQ moves: Novelis, NCR and GE MSA Honolulu, HI • Hawaii’s economy is starting to Marietta, GA Energy (357,000 SF) moved in. look better. University of Hawaii Nuclear Regulatory Commission Economic Research Organization Square Miles 529 (102,436 SF) moved to Square Miles 600 reports Oahu tourism is leading downtown Atlanta in 2010. a modest recovery. Tourism as major economic engine is • Vacancy is relatively flat at expected to increase 4.1% to 7.3 19.2% for 2009 and 2010. Population 910,677 Population 1,044,336 million visitors in 2011. • 8 buildings delivered in 2010 for • Hawaii’s construction is a replay a total of 1,896,524 SF. Households 311,782 of 2010 for 2011, with only Households 435,995 military and government projects • Net absorption in 2010 was being awarded, attracting out-of- 821,275 SF. Office inventory Household Household Income $83,803 state firms to compete for these Income $95,068 closed at 201 million SF. contracts. Average Average Vacancy fell by .3% since 2009. Office rental rate fell 10 cents. • In 2010, unemployment rate was Employees Employees 730,767 (Total) 365,718 at a low of 6.4% with 594,000 (Total) • Atlanta has 10 submarkets. people employed. This is Sony Ericsson made a expected to expand to 602,300, submarket move in 2010. primarily in the HospitalityUnemployment 10.2% Unemployment 4.8% sectors. • Labor force continues to be stable in Atlanta market. • Hawaii’s commercial investmentTotal Consumer Total Consumer sales are expected to increase $18,982,203 Expenditure $23,738,587 Expenditure over 2010 as” capital freeze” thaws. Significant sales in 2010 include: Bishop Square Office Complex that sold for $230m Contact Contact and Pearl Ridge Shopping Center sold for $245m. Coldwell Banker Commercial Coldwell Banker Commercial Metro Brokers NRT - Hawaii 3575 Piedmont Road NE, Piedmont Center 737 Bishop Street, Suite 2000 Bldg 15 Suite 950 Honolulu, HI 96813 Atlanta, GA 30305 (808) 526-0896 (678) 320-4800 www.cbcpacific.com www.cbcworldwidemetro.com Office Retail Office Retail Vacancy q Vacancy p Vacancy p Vacancy p Absorption p Absorption q Absorption q Absorption q Rental Rates q Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy p Vacancy q Vacancy n Vacancy p Absorption q Absorption q Absorption p Absorption q Rental Rates q Rental Rates n Rental Rates p Rental Rates N/A 9
  • 12. ID - Coeur d’Alene IL - Bloomington / Normal Demographics Market Highlights Demographics Market Highlights Coeur d’Alene, • Development is limited to build- Bloomington- • Both major healthcare MSA MSA ID Normal, IL to-suit activity. organizations have building expansion projects underway. Square Miles 1,245 • Tenants are using this Square Miles 1,184 opportunity to extend their • Mitsubishi Motors is adding leases and lock in low rates. a new car model to its production line, thus stabilizing Population 140,628 • Beginning to see a trend Population 168,918 employment. towards fewer concessions from landlords. • Campus housing development at Households 53,154 Households 70,687 Illinois State University is active. • Asking rents have remained steady, but this does not tell the • Heartland Community College Household whole story. Effective rents have Household purchased 100 acres for future Income $62,733 Income $73,184 dropped over the last year. growth. Average Average • Apartment market is beginning • Retail market starts slow Employees Employees 49,226 to recover. This market expects 69,980 recovery as demand picks up. (Total) (Total) to see lower vacancies and higher rents by the end of 2011.Unemployment 11.3% Unemployment 6.7%Total Consumer Total Consumer $2,933,601 $4,038,011 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Schneidmiller Realty Heart of America Realtors 2000 Northwest Boulevard 802 S. Eldorado Road Coeur d’Alene, ID 83814 Bloomington, IL 61704 (208) 765-4300 (309) 662-3377 www.cbcsr.com www.cbhoacommercial.com Office Retail Office Retail Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption n Absorption n Rental Rates q Rental Rates n Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy p Absorption p Absorption p Absorption p Absorption q Rental Rates n Rental Rates q Rental Rates n Rental Rates q 10
  • 13. IL - Champaign County IL - Chicago Demographics Market Highlights Demographics Market Highlights Champaign- Chicago- MSA • The University of Illinois helps MSA Naperville- • There were several large Office Urbana, IL to drive the local economy and Joliet, IL-IN-WI leases in the Chicago market contributes to its stability. in 2010. The largest being UBS Square Miles 997 Square Miles 946 for 382,000 SF in downtown • The local healthcare industry Chicago. has remained strong and continues to be a regional draw • Vacancy has fallen because Population 197,011 for the community. Population 5,304,373 there was virtually no new construction and several large • Despite the economic downturn, new leases were secured. Households 85,107 new technology-related Households 1,953,418 enterprises have continued • There was only 778,000 SF to develop and expand in this of new construction in 2010, Household market. Household of which 571,000 SF was Income $61,502 Income $84,614 Average preleased. • Vacancy is at an all-time high Average in the Office sector, prompting • There was positive absorption Employees Employees (Total) 73,556 landlords to lower rents and offer 2,393,188 of 1,914,000 SF in the Chicago (Total) incentives to attract tenants. market in 2010. As a result, vacancy dropped and rental • The Retail sector is showing rates increased.Unemployment 7.5% signs of recovery with national Unemployment 8.6% Retailers beginning to re-enter • Tenants sense that the market the market. is starting to get better and, asTotal Consumer a result, are taking advantage of Total Consumer Expenditure $4,461,113 • The Multi-Family sector $107,386,591 competitive lease terms. Expenditure continues to experience growth and relatively low vacancy rates, • There was 5% employment especially with student housing. growth from 2009 to 2010. Contact Contact Chicago continues to have a diverse employment base. Coldwell Banker Commercial Coldwell Banker Commercial Devonshire Realty NRT - Chicago 201 W. Springfield Avenue 2215 Sanders Road, Suite 350 Champaign, IL 61820 (847) 313-4646 (217) 352-7712 www.cbcnrtchicago.com cbcdr.com Office Retail Office Retail Vacancy p Vacancy p Vacancy q Vacancy q Absorption q Absorption n Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates p Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy p Vacancy q Vacancy q Absorption n Absorption n Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates p Rental Rates q 11
  • 14. IL - DuPage IN - Delaware Demographics Market Highlights Demographics Market Highlights Chicago- MSA Naperville- • Rasmussen College and other MSA Muncie, IN • Three employers opened plants Joliet, IL-IN-WI educational services are creating a total of 800 jobs. expanding. Square Miles 393 • Industrial vacancy rate is falling Square Miles 334 • With large Office leases expiring, due to new employers. tenants are shopping for better deals and downsizing. • CBD Office vacancy is up 15% Population 935,405 Population 115,425 due to shrinking government • Central Dupage Hospital Cancer programs. Center increases its presence with new construction. Households 48,625 • CBD Rent rates are down 10- Households 338,513 15%. • There has been slow absorption Household of Retail Center space in the Household • Ivy Tech Community College Income $55,245 opened a Campus in CBD. Income $104,196 Chicago west suburbs. Average Average • Many Chicago suburban • Muncie has the most affordable Employees housing in Division 1-A Employees 622,755 communities expect that 42,446 (Total) (Total) absorption will not improve until communities. 2012-2013, when confidence in the market returns to Retail/Unemployment 8.6% Office. Unemployment 10.0%Total Consumer Total Consumer $21,956,832 $2,493,689 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial NRT - Chicago Lunsford Real Estate 1225 W. 22nd Street, Suite 130 3601 W. Bethel Avenue Oak Brook, IL, 60523 Muncie, IN 47304 (630) 954-4600 (765) 289-2228 www.cbcnrtchicago.com www.coldwellbankercommerciallunsford.com Office Retail Office Retail Vacancy p Vacancy p Vacancy p Vacancy q Absorption q Absorption p Absorption q Absorption p Rental Rates q Rental Rates q Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy p Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates p Rental Rates q Rental Rates q Rental Rates n 12
  • 15. KY - Louisville LA - Lafayette Demographics Market Highlights Demographics Market Highlights Louisville/ MSA Jefferson • Downtown Louisville is in a MSA Lafayette, LA • This market was directly affected County, KY-IN growth mode with the New YUM! by the Gulf Oil spill. Center. Square Miles 270 • Government has lifted the Square Miles 385 • UPS is a major employer and moratorium, but has not issued provides a logistics hub to many permits to drill. emerging companies. Population 723,786 Population 212,674 • Lack of new construction for • Retail vacancies are beginning to Industrial has kept this market fill up in major locations. stable. Minimal properties are Households 82,912 available for lease or sale. Households 302,589 • New constructions and new projects remain slow. • Several new large Multi-Family Household Household complexes has increased the • The demand for Multi-Family Income $75,497 Income $74,419 vacancy rate throughout the Average Average build sites is very strong. rental market. • The unemployment rate is Employees Employees 400,666 128,639 • Retail spending has remained (Total) (Total) dropping. high throughout the trade area. • The Louisville market is holding • Unemployment remains inUnemployment 9.8% steady. A Retail rebound, Multi- Unemployment 5.6% the 5% range, but continued Family and logistic positioning by government involvement in the companies using the UPS Hub oil industry will force many of are strengths in the Louisville local jobs out of the country.Total Consumer Total Consumer $16,376,009 area market. The market Expenditure $4,418,906 Expenditure include an MSA of about 1.2 million people. Office and new construction projects are slow areas of the commercial market Contact Contact right now. The emergence of Coldwell Banker Commercial downtown and the new KFC Coldwell Banker Commercial McMahan Co. YUM! Center make the area Pelican Real Estate 6402 Railroad Avenue interesting for commercial 806 East Saint Mary Boulevard Crestwood, Kentucky 40014 Lafayette, LA 70503 (502) 241-8811 investment. (337) 233-9541 www.cbmcmahan.com www.cbcpelican.com Office Retail Office Retail Vacancy n Vacancy q Vacancy p Vacancy p Absorption n Absorption p Absorption q Absorption q Rental Rates q Rental Rates n Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy q Vacancy n Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates q 13
  • 16. ME - Midcoast / Southern Regions MN - Minneapolis Demographics Market Highlights Demographics Market Highlights Portland-South Minneapolis- MSA Portland- • Retail: Wal-Mart and Tractor St. Paul- • Microsoft is expanding again in MSA Biddeford, ME Supply will start construction in Bloomington, the Twin Cities. the fall of 2011. MN-WI • Investment property sales were Square Miles 991 • Vacancy Rates are falling due Square Miles 557 up in 2010. to lack of inventory of available space. • US Bank signs 340,000 SF lease Population 201,958 at Meridian Crossings. • There are several proposed Population 1,162,574 construction projects slated for • Office market sees signs of 2011. stabilization. Households 79,304 Households 485,989 • Rental rates are holding steady; • Apartment market shows Household Office rates are down a bit. positive trends. Income $68,728 Household Average • Midcoast Maine has been Income $94,537 • Signs of job growth reemerge at discovered because of its quality Average same rate as nation. Employees 56,526 of lifestyle and growing economy. (Total) Employees 834,033 (Total) • Unemployment is below state and national averages.Unemployment 5.9% Unemployment 6.5%Total Consumer $4,498,991 Expenditure Total Consumer $29,346,247 Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial SoundVest Properties Griffin Companies 147 Park Street 615 1st Avenue NE Suite 500 Rockland, ME 04841 Minneapolis, MN 55413 (207) 596-7478 (612) 338-2828 www.soundvest.com www.cbcgriffin.com Office Retail Office Retail Vacancy q Vacancy q Vacancy p Vacancy p Absorption p Absorption p Absorption p Absorption q Rental Rates q Rental Rates p Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy p Vacancy q Vacancy q Vacancy p Absorption q Absorption p Absorption p Absorption q Rental Rates n Rental Rates p Rental Rates p Rental Rates q 14
  • 17. MO - Southwest MO - St. Louis Demographics Market Highlights Demographics Market Highlights Springfield, St. Louis and MSA • In August 2010, Expedia Inc. MSA 16 counties • Industrial, Retail and Multi- MO announced its intentions to bring across MO-IL Family vacancy levels have 500 new jobs to Springfield decreased for each of the past 4 Square Miles 675 to coincide with a move to Square Miles 8,458 quarters. The rates will continue Springfield’s old airport. to decrease due to the lack of new product available. • T-Mobile plans to hire 300 Population 271,195 people for its Springfield Population 2,812,896 • Office vacancy has remained flat customer care service center even though new construction next year; 100 of them during deliveries continue to be strong. Households 118,990 the first quarter of 2011. Households 736,952 • Net absorption was positive for • McLane Co. Inc. plans to build a past 4 quarters for the Industrial, Household 400,000 SF distribution center Household Retail and Multi-Family sectors. Income $58,871 Income $51,691 Average on Republic’s west side that Average • Net absorption for the Office would employ about 400 people. sector was mixed for the year, Employees Employees (Total) 145,282 • O’Reilly Hospitality Management 1,440,683 however, the last 2 quarters (Total) will complete its new 125-room ended with strong results. Hilton Garden Inn in March 2011 on Springfield’s south side.Unemployment 8.4% Unemployment 9.9%Total Consumer Total Consumer $6,303,682 $31,575,174 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Vanguard, Realtors CRA LLC 1334 E. Republic Road 8820 Ladue Road Springfield, MO 65804 Saint Louis, MO 63124 (417) 887-5950 (314) 206-4600 www.cbcvanguard.com www.cbcstl.com Office Retail Office Retail Vacancy p Vacancy p Vacancy q Vacancy q Absorption q Absorption p Absorption p Absorption p Rental Rates q Rental Rates p Rental Rates p Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy N/A Vacancy p Vacancy q Vacancy q Absorption N/A Absorption p Absorption p Absorption p Rental Rates N/A Rental Rates q Rental Rates p Rental Rates q 15
  • 18. MO/KS - Kansas City MT - Billings Metro Demographics Market Highlights Demographics Market Highlights Kansas City, • Sprint’s 4,000,000 SF campus • Base economic industries; MSA MSA Billings, MT MO-KS in Overland Park now has Agriculture, Petroleum, Medical, 370,000 SF of subleased & Tourism remained even paced Square Miles 477 space, most at the expense of Square Miles 2,635 in 2010. downtown Kansas City, MO. • Area residential real estate has • The average Household Income not been impacted by national Population 546,679 for the Kansas City Metro for Population 145,900 factors. 2010 was $103,069. • New construction has been Households 210,513 • During 2010 modern bulk Households 59,768 curtailed by lack of regional distribution space had a positive financing. net absorption of 122,000 SF. Household Household • Lender REO activity has been Income $103,035 Income $69,258 • Modern warehousing had a minimal. Average Average 122,000 SF positive absorption in 2010. • Multi-Family occupancy indicates Employees Employees 317,994 67,577 further property expansion. (Total) (Total) • Wyandotte County lead the Metro area in new construction • Considerable 2010 4th quarter last year. activity tends to indicateUnemployment 8.6% Unemployment 5.5% a substantial increase in • Johnson County index of transaction volume during the consumer confidence was up 6% first quarter of 2011.Total Consumer in early 2011. Total Consumer Expenditure $13,553,993 Expenditure $3,344,037 • 2011 is projected to be a better year for commercial transaction activity. Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Fishman & Company The Brokers 1948 E Santa Fe Street 1215 24th Street, Suite 240 Olathe, KS 66062 Billings, MT 59102 (913) 782-9000 (406) 656-2001 www.cbcfishman.com www.cbcmontana.com Office Retail Office Retail Vacancy p Vacancy q Vacancy n Vacancy p Absorption q Absorption n Absorption n Absorption n Rental Rates p Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy n Absorption n Absorption p Absorption p Absorption n Rental Rates N/A Rental Rates q Rental Rates p Rental Rates q 16
  • 19. NC - Charlotte Metro Area NC - Greensboro / High Point Metro Demographics Market Highlights Demographics Market Highlights Charlotte- Greensboro- MSA Gastonia- • A number of corporate MSA Winston Salem- • Dell and American Express Concord, NC-SC relocations in 2010 paired with High Point, NC moved out of market. Caterpillar the recent announcement of and FedEx Ground are moving in. Square Miles 526 the 2012 Democratic National Square Miles 649 Convention being held in • Vacancy is rising because Charlotte continue to keep the American Express and Dell are region in the spotlight. closing and RJR is laying off Population 924,534 Population 483,648 employees. • Increasing demand for space and lack of new development • A new Events Center in Eastern has caused positive absorption. Davie is being constructed. Households 368,843 Households 200,893 • Lack of new construction and • Fairly level status of vacancy at Household signs of an improving economy Household high levels for all 2010. Income $86,370 have had a positive influence on Income $70,444 Average Average • What is changing in this market? vacancy rates. There is a balance of losing Employees 556,689 • Flattening of rental rates and Employees 256,183 companies with influx of logistic (Total) (Total) companies. even some slight positive increases are a result of positive absorption. • The labor force is movingUnemployment 10.7% Unemployment 10.2% from manufacturing to skilled • Charlotte geographic location, technology. low cost of living, educated work force and warm climate continueTotal Consumer Total Consumer Expenditure $20,736,072 to benefit the region. Expenditure $10,463,059 • Charlotte continues to benefit from educated labor force which Contact has been major influence in a Contact number of corporate relocations Coldwell Banker Commercial of both major companies as well Coldwell Banker Commercial MECA as their vendors. Triad, Realtors 1815 S Tryon Street, Suite A 285 S. Stratford Road Charlotte, NC 28203 Winston-Salem, NC 27103 (704) 971-2000 (336) 659-3259 www.cbcmeca.com www.cbctriad.com Office Retail Office Retail Vacancy q Vacancy q Vacancy p Vacancy p Absorption p Absorption p Absorption n Absorption n Rental Rates n Rental Rates n Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy p Absorption p Absorption p Absorption p Absorption q Rental Rates p Rental Rates n Rental Rates n Rental Rates q 17
  • 20. NC - Greenville NC - Raleigh Demographics Market Highlights Demographics Market Highlights • Greenville is the 10th Largest Raleigh-Cary, • Office vacancy came down in Q4 MSA Greenville, NC MSA NC City in North Carolina. for the first time in over a year. Square Miles 652 • It is the Medical, Educational Square Miles 832 • Office leasing activity, proposals and Retail Hub of Eastern North and showings are reported to Carolina. have improved significantly since January 1, 2011. Population 160,713 • It is the home to East Carolina Population 911,865 University, which has 27,000+ • Retail activity remains solid in students. the Triangle area. Households 67,774 Households 363,974 • Greenville is in one of the states • The Warehouse market has fastest growing counties. had almost 2 years of negative Household Household absorption in the Triangle. Income $61,325 Income $83,226 Average Average Employees Employees 50,535 376,175 (Total) (Total)Unemployment 9.5% Unemployment 7.8%Total Consumer Total Consumer $3,309,364 $21,082,407 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial CoastalMark LLC Trademark 1516 S.E. Greenville Boulevard 1001 Wade Avenue, Suite 300 Greenville, NC 27858 Raleigh, NC 27605 (252) 355-5220 (919) 782-5552 www.cbccoastalmark.com www.cbctmp.com Office Retail Office Retail Vacancy N/A Vacancy n Vacancy q Vacancy q Absorption N/A Absorption p Absorption p Absorption p Rental Rates N/A Rental Rates n Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy p Vacancy q Vacancy p Absorption p Absorption q Absorption p Absorption q Rental Rates q Rental Rates q Rental Rates n Rental Rates q 18
  • 21. NJ - Central NJ - Northern Demographics Market Highlights Demographics Market Highlights Sommerset, NY-Northern Middlesex, • Shift of Pharmaceutical New Jersey- • Panasonic is considering a move MSA MSA Hunterdon, Manufacturing out of New Long Island, to shovel-ready Newark, NJ. Counties, NJ Jersey. NY-NJ-PA • Positive absorption of vacancy • Steady absorption of Office Square Miles 126 is expected from slight private Square Miles 305 vacancy rates through sector job growth. aggressive leasing programs. • New construction/ Population 328,855 • Rejuvenation of state economic Population 771,178 redevelopment trend; MXD/ development programs to Retail Transit Village hubs. business. Households 286,718 • Increased tenant demand for Households 120,619 Office space under 10,000 SF. • Northern NJ still depends on NYC to drive its economy. Household Household • Soaring investor demand within Income $137,536 • Aggressive local and state Income $95,195 the Multi-family sector. Average Average government spending cuts are seen as way to keep business • Municipal cutbacks are Employees placing downward pressure on Employees 190,087 operating costs lower. (Total) 313,586 (Total) government job sector. • Service industry is a major growth sector of economy in a • Strong investor demand forUnemployment 3.5% down market. Unemployment 2.1% value-added Retail centers statewide. Uptick of Multi- Family assets in receivership will position CRE practitioners Total ConsumerTotal Consumer $8,402,922 Expenditure $15,019,822 experienced in BOV reporting as Expenditure highly sought after commodities for Lenders & 3rd-party affiliates. Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Feist & Feist Realty Corp. NRT - NJ 180 Mount Airy Road 1 Campus Drive Basking Ridge, NJ 07920 Parsippany, NJ 07054 (908) 696-1500 (888) 829-0221 www.feistandfeist.com www.cbcnrtnewjersey.com Office Retail Office Retail Vacancy n Vacancy p Vacancy p Vacancy p Absorption p Absorption q Absorption q Absorption q Rental Rates q Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy q Vacancy q Vacancy N/A Absorption n Absorption p Absorption p Absorption N/A Rental Rates n Rental Rates n Rental Rates p Rental Rates N/A 19
  • 22. NM - Albuquerque NV - Carson City Demographics Market Highlights Demographics Market Highlights Albuquerque, • Kohl’s Dept. Store recently Carson City, • Chromalloy Nevada recently MSA MSA NM NV leased 110,000 SF of former occupied a 41,700 SF Industrial Mervyn’s space in the Coronado flex building in Carson City, Square Miles 1,166 Mall. Square Miles 143 Nevada. • Planet Fitness has opened 5 • Increased activity through the locations in the Albuquerque Northern Nevada Development Population 646,351 market, 3 in 2010. Population 55,156 Authority has resulted in a significant decrease in the • No significant new construction Industrial vacancy rate. Households 258,990 is expected in 2011. Households 23,432 • Two significant Industrial build- • Retail vacancy is moving down. to-suit projects have recently Household Household broken ground totaling over Income $66,597 • National and local small tenant Income $69,548 Average Average 200,000 SF of new Industrial Retailers are backfilling existing space. vacancy. Employees Employees (Total) 270,732 (Total) 25,284 • Retail rents continue to fall and • There was no significant change are projected to end the year in employment / unemployment. 10% below their current levels.Unemployment 8.4% Unemployment 14.0% • Due to recent bills passed by the California Legislature, activity by companies interestedTotal Consumer Total Consumer in relocating to Nevada has $14,289,041 $1,324,454 increased significantly. Expenditure Expenditure • Due to the high unemployment rate in Northern Nevada (14%+), Contact Contact there is an abundance of highly skilled workers for companies Coldwell Banker Commercial Coldwell Banker Commercial expanding and relocating. Las Colinas Premier Brokers 4801 Lang Avenue NE, Suite 100 223 South Division Street Albuquerque, NM 87109 Carson City, NV 89703 (505) 897-7227 (775) 888-6200 x1210 www.lcrealty.com www.CBNevada.com Office 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 q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy n Vacancy n Vacancy q Absorption p Absorption n Absorption n Absorption p Rental Rates p Rental Rates q Rental Rates n Rental Rates p 20
  • 23. NY - Manhattan NY - Upstate Demographics Market Highlights Demographics Market Highlights NY-Northern Buffalo- New Jersey- • Societe Generale will be MSA Niagara Falls, • Pent up demand, plentiful MSA Long Island, relocating to 245 Park Avenue NY supply and hungry Landlords NY-NJ-PA from 1221 Avenue of the made 2010 a great year for Americas taking 444,000 SF. Square Miles 1,044 Tenant Representation to those Square Miles 23 companies fortunate enough to • Vacancy rates in NYC / be able to take advantage of the Manhattan Office has declined market. to 7.7% at year end. Net Population 909,443 Population 1,628,834 absorption for the overall New • New construction in 2008 York City Office market was with more scheduled in 2011, (-706,872). Households 377,859 coupled with tenant downsizing Households 821,449 will cause vacancy to increase • Approximately 1,429,393 of new through 2012. Office space delivered during Household Household 2010, with 11 Times Square, Income $67,419 • Paetec Communications and Income $124,528 Average 1,111,960 being delivered in the Callfinity are moving to the Average 3rd Qrt. revitalized Downtown. Employees 407,833 Employees (Total) (Total) 2,030,457 • Overall, more square footage • Rental rates remain stagnant was leased in 2010 than in any especially for existing other year. Activity rose over 61% construction. from 2009. Unemployment 8.2%Unemployment 8.2% • There has been continued growth and significant financial commitment to renovate and to Total ConsumerTotal Consumer Expenditure $20,415,891 build new construction in CBD of $47,881,394 Upstate NY markets. Expenditure • While growth has been slow, Contact Contact commercial and residential values have remained stable Coldwell Banker Commercial Coldwell Banker Commercial or slightly increased contrary REalta Group Meridian to what is occurring in many 1430 Broadway, 9th Floor 4498 Main Street New York, NY 10018 Buffalo, NY 14226 markets. (212) 344-0300 (716) 839-6100 www.cbcrealta.com www.coldwellbankermeridian.com Office Retail Office Retail Vacancy q Vacancy q Vacancy p Vacancy p Absorption p Absorption p Absorption p Absorption q Rental Rates p Rental Rates n Rental Rates n Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy N/A Vacancy p Vacancy p Absorption n Absorption N/A Absorption p Absorption p Rental Rates n Rental Rates N/A Rental Rates n Rental Rates n 21
  • 24. OK - Oklahoma City OK - Tulsa Demographics Market Highlights Demographics Market Highlights Oklahoma City, • Oklahoma City’s Outlet Shoppes • Office vacancies are increasing MSA MSA Tulsa, OK OK is the largest Retail real estate as tenants contract. investment project happening in Square Miles 709 the country according to McGraw Square Miles 570 • Tulsa Industrial vacancies hit a Hill Construction 2011 Outlook. 20-year high. • Boeing is moving a division to • The Retail sector is seeing lower Population 722,227 Oklahoma City because it is a Population 606,781 vacancies and lower rates. right-to-work state. • Multi-Family was relatively Households 298,656 • Forbes ranked Oklahoma City as Households 249,702 stagnant in 2010. “Americas #1 Most Affordable City.” Household Household Income $76,263 Income $77,509 • Devon Building is the only Average Average 50-floor Office buildings being completed in Downtown Employees Employees (Total) 352,723 Oklahoma City. (Total) 319,678 • Business Facilities Magazine named Oklahoma City a “TopUnemployment 6.1% 10 Metro for Economic Growth Unemployment 7.4% Potential” (July 2010).Total Consumer • Forbes ranked Oklahoma City as Total Consumer Expenditure $16,307,811 a “Top 5 Fastest-Growing City” Expenditure $13,949,853 (October 11, 2010). Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Hocker & Associates Argue Properties 4323 N. Classen, Suite 100 401 South Boston, Suite 300 Oklahoma City, OK 73118 Tulsa, OK 74103 (405) 840-4545 (918) 587-1900 www.hocker.com www.argueproperties.com Office Retail Office Retail Vacancy p Vacancy q Vacancy p Vacancy q Absorption q Absorption p Absorption q Absorption p Rental Rates p Rental Rates q Rental Rates p Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy N/A Vacancy q Vacancy p Absorption q Absorption N/A Absorption p Absorption q Rental Rates p Rental Rates N/A Rental Rates n Rental Rates n 22
  • 25. OR - Portland OR - Salem Demographics Market Highlights Demographics Market Highlights Portland- Vancouver- • The largest Retail leases in 2010 MSA Salem, OR • After years of speculation, Trader MSA Beaverton, included 51,350 SF by Mor Joe’s signed a lease in early OR-WA Furniture on Hayden Meadows Summer 2010 for a South Salem Drive and 48,815 SF by Dick’s Square Miles 1,184 location. Square Miles 628 Sporting Goods on SE 82nd Avenue. • Cascade Cardiology, a team of local doctors, purchased a • The largest Office leases in Population 320,368 commercial Office condo from Population 435,677 2010 include: 191,573 SF by the lender and plans to complete Nike in Southwest Portland and its new facility in 2011. 142,850 SF by Hewlett Packard Households 118,404 Households 159,003 in Clark County. • There has been limited new construction due to costs for • After many slow years of new Household new buildings exceeding the cost Household Income $61,875 Multi-Family projects, developer Average of comparable properties on the Income $70,471 interest is beginning to pick up. market. Average Multi-Family development land is Employees attracting more interest. (Total) 105,045 • Sales and leasing activity Employees (Total) 116,906 increased in 2010 over the • Activity on the owner/user prior year with the majority of side of the Industrial market is transactions being leases or Unemployment 10.7% picking up to take advantage of consulting work.Unemployment 9.9% historic low interest rates and favorable pricing. • Contrary to perception, large- Total Consumer scale commercial foreclosures • The metro area’s unemployment $6,417,955 have yet to be realized.Total Consumer Expenditure $9,158,947 edged down to 10.2 percent in Expenditure August, 20 basis points lower • There were virtually no than July and 90 basis points investment sales within the Contact less than prior year levels. It has Contact market and the medical continued to slide down to 9.9%. profession is aggressively Coldwell Banker Commercial Coldwell Banker Commercial expanding. Mountain West Real Estate,LLC Mountain West Real Estate,LLC 2545 SW Spring Street, Suite 200 250 Division Street, NE Portland, OR 97219 Salem, OR 97301 (503) 227-2934 (503) 588-3508 www.cbcre.com www.cbcre.com Office Retail Office Retail Vacancy q Vacancy q Vacancy p Vacancy p Absorption p Absorption p Absorption q Absorption q Rental Rates p Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy p Absorption p Absorption p Absorption n Absorption q Rental Rates p Rental Rates q Rental Rates n Rental Rates q 23
  • 26. PA - Central Region PA - Pittsburgh Demographics Market Highlights Demographics Market Highlights York-Hanover, • Arm and Hammer moved into • Gas drilling companies have MSA MSA Pittsburgh, PA PA the area with 300 new jobs. a major impact on sales and leases in the area. Square Miles 904 • Vacancy rates appear to be Square Miles 730 falling in all areas due to • Vacancy is falling due to the rise increased leasing activity. in confidence in the economy. Population 430,707 • There is very little new Population 1,219,061 • More jobs are being created construction due to the amount by Marcellus Shale and related of money that banks are industries. Households 169,750 requiring as collateral and the Households 530,329 uncertainty in the market. • The Pittsburgh market is doing better than other markets due Household • Rental rates have remained Household to the increased value the Income $65,260 Income $73,859 stable or increased slightly due purchaser/lessee receives for Average Average to the lack of new construction. their dollar. Employees Employees 168,402 • In this market, there is a shift 675,494 (Total) (Total) from new construction to renovation and leasing.Unemployment 7.9% • The shift in the labor force has Unemployment 7.5% been less manufacturing and more service jobs.Total Consumer Total Consumer $9,444,630 $29,074,363 Expenditure Expenditure Contact Contact Coldwell Banker Commercial Coldwell Banker Commercial Bennett Williams NRT - Pittsburgh 110 North George Street, 4th Floor 9600 Perry Highway, Suite 200 York, PA 17401 Pittsburgh, PA 15237 (717) 843-5555 (412) 548-1064 www.bennettwilliams.com www.cbcworldwide.com Office 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 n Rental Rates p Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy p Vacancy q Vacancy q Absorption p Absorption q Absorption p Absorption p Rental Rates p Rental Rates q Rental Rates p Rental Rates n 24
  • 27. SC - Charleston / Tri-County SC - Columbia Demographics Market Highlights Demographics Market Highlights Charleston- MSA North • The Boeing Company started MSA Columbia, SC • The largest signings for 2010 Charleston, SC construction on a new plant to were: Office - AFLAC, Inc. 27,432 build the 787 Dreamliner, and SF; Retail - Planet Fitness Square Miles 2,071 GE announced it would develop Square Miles 756 23,600 SF; Industrial - Dana OFF its new wind turbines here. Highway Products, LLC 82,000 SF. • Contractors and subcontractors Population 649,315 will create 10,000 to 15,000 Population 375,193 • The Office and Retail market new jobs in the next 5 years. have experienced 3 quarters of positive absorption after • Office, Industrial, Apartment and Households 156,493 experiencing negative absorption Households 167,649 Retail developers are seeking in the first quarter. This is a opportunities and will deliver trend that may hold through new construction in 2012. Household Household Income $70,388 2011. Income $64,801 Average Average • Industrial space has made the • New construction is almost best progress in the market, non-existent. Each market sector Employees Employees 153,287 absorbing 1.6m SF in 2010. (Total) 177,047 delivered very minimal amounts (Total) in 2010. • Expansion of Charleston’s deep water harbor, new rail • Rental rates for Office and RetailUnemployment development, and international Unemployment 9.0% 9.0% have increased from the first airport are attracting industry. quarter 2010 while Industrial lease rates have decreased. • New jobs related to aviation and Total ConsumerTotal Consumer $6,657,034 other technologies will lead the Expenditure $7,779,167 • It appears the Columbia market Expenditure growth of new jobs in Charleston. is experiencing an increase Lack of labor unions is a factor. in activity over the previous quarter, however, it is too early to Contact Contact tell whether or not this increase will get any traction. Coldwell Banker Commercial Coldwell Banker Commercial Atlantic International, Inc United, Realtors 3506 West Montague Avenue, Suite 200 1711 Gervais Street North Charleston, SC 29418 Columbia, SC 29201 (843) 744-9877 (803) 799-4663 www.cbcatlantic.com cbccarolinas.com Office Retail Office Retail Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates n Rental Rates p Rental Rates p Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy N/A Vacancy p Absorption p Absorption p Absorption N/A Absorption q Rental Rates p Rental Rates p Rental Rates N/A Rental Rates q 25
  • 28. SC - Greenville / Spartanburg TN - Chattanooga Metro Area Demographics Market Highlights Demographics Market Highlights Greenville- Chattanooga, MSA Mauldin-Easley, • Continued positive business MSA • Amazon has leased a 1 million TN-GA SC announcements. SF building under construction for a new distribution center that • Downtown continues to boom. Square Miles 542 will create 250 new jobs. Square Miles 790 • Business sentiment is bullish. • Wacker Chemie purchased 350 acres for a $5.4 billion new Population 455,754 • BMW expands again. Population 338,740 plant to manufacture hyperpure polycrystalline silicon. It will • Charleston Port deepening employ 500 new workers. has been a major issue of Households 185,258 Households 139,388 discussion. • Volkswagen has a new assembly plant that has begun production Household • Temporarily, there has been little Household on the 2011 Passat. This plant Income $68,514 new construction in any sector. Income $66,929 has created 2,000 new jobs. Average Average • Whirlpool Corporation has Employees Employees 247,012 (Total) 167,178 broken ground on a new 1.4 (Total) million SF green production facility that will replace an older plant.Unemployment 9.2% Unemployment 8.3% • Commercial activity has increased significantly in the last Total Consumer quarter.Total Consumer $7,308,183 $9,928,878 Expenditure Expenditure • This market is positioned for tremendous growth in the next 5 years. In addition to Contact Contact Volkswagen, many automotive suppliers are relocating to the Coldwell Banker Commercial Coldwell Banker Commercial area. Caine Hamilton & Associates 200 East Broad Street, Suite 200 2650 Peerles Road NW Greenville, SC 29601 Cleveland, TN 37312 (864) 250-2800 (423) 476-5535 www.cbccaine.com www.hamiltoncommercial.com Office Retail Office Retail Vacancy q Vacancy q Vacancy p Vacancy n Absorption p Absorption p Absorption q Absorption n Rental Rates p Rental Rates p Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy n Absorption p Absorption p Absorption p Absorption n Rental Rates n Rental Rates q Rental Rates n Rental Rates n 26
  • 29. TN - Knoxville TX - Dallas Demographics Market Highlights Demographics Market Highlights Dallas-Fort MSA Knoxville, TN • South College leased 85,000 MSA Worth- • The Dallas/Fort Worth (DFW) SF in the former Goody’s Arlington, TX regional population increased 52% Headquarters building. from 2000-2010 to a total of 6.5 million, making it the 4th largest Square Miles 508 Square Miles 880 region in the US. • Vacancy rates seem to have stabilized in all sectors as the • Employment growth has tracked economy starts to improve. population and currently stands at Population 438,198 Population 2,471,817 3.9 million employees. • New construction is centered on medical facilities and the • DFW is HQ for 24 Fortune 500 Companies, 158 companies ranked Households 189,397 University of Tennessee. in The Inc.’s 5000 Fastest Growing. Households 896,689 DFW is the 6th largest economy in • The Multi-Family sector the US and 14th in the World. Household continues to be strong in the Household Income $68,293 • Advantages: Central Time Zone, mild Knoxville area with vacancy Income $81,321 Average Average climate and Forbes ranks it as the rates dropping to 5.7% in the 4th quarter of 2010 according “#1 City to Earn a Living”. Employees Employees (Total) 211,528 to REIS. 1,308,495 • State benefits: Texas does not have (Total) a State Income Tax and is a right-to- work state.Unemployment 7.3% Unemployment 8.0% • Transportation: intersection of five major interstate highways, rail hub for BN/Santa Fe and UP, air hub for AA and SW with 56m passengersTotal Consumer $10,302,686 Total Consumer per year. Expenditure $48,843,318 Expenditure • In 2010, The Office market ended with a positive absorption of 2.5m SF and a vacancy at 17.5%. Industrial market ended with a Contact Contact positive absorption of 614,000 Coldwell Banker Commercial Coldwell Banker Commercial SF and a vacancy at 11.8%. Retail Wallace & Wallace, Realtors SA market had positive absorption of 124 N. Winston Road 3010 LBJ Freeway, Suite 1525 1.8m SF and a vacancy at 8.8%. Knoxville, TN 37919 Dallas, TX 75234 Apartment market ended with an (865) 690-1111 (972) 503-8600 net positive absorption of 17,800 www.cbcww.com www.coldwellbanker-sa.com units and an occupancy rate of 91.5%. Office Retail Office Retail Vacancy n Vacancy n Vacancy q Vacancy q Absorption n Absorption n Absorption p Absorption p Rental Rates q Rental Rates q Rental Rates n Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy n Vacancy q Vacancy q Absorption p Absorption n Absorption p Absorption p Rental Rates p Rental Rates q Rental Rates p Rental Rates n 27
  • 30. TX - Lubbock TX - San Antonio Demographics Market Highlights Demographics Market Highlights • Lubbock’s Jobless rate of 5.8% San Antonio, • Major tenants moving into the MSA Lubbock, TX MSA TX is the third lowest in the state. It market include: Medtronics is being aided by private industry HQ, Brook Army Medical Center Square Miles 899 hiring in several economic Square Miles 1,247 Expansion and the NSA. sectors as well as hiring in education and health services. • Vacancies are declining across the board and the market Population 273,181 • Lubbock’s growth is among top Population 1,667,290 enjoys growth in population and in the US. Lubbock is ranked housing, with little expansion of the 87th largest city in U.S. and product. Households 108,923 the 36th fastest-growing city of Households 598,012 more than 100,000 people in • Federal Government/Military the country. expansion has caused over $3 Household Household billion in new construction in the Income $57,357 Income $68,482 Average • Monsanto Company opened Average past two years. a new 50,000 SF cotton technology center. The facility’s • Rental rates are stable to Employees Employees (Total) 100,513 cost of $10.5 million will have a (Total) 640,152 positive, Office is lagging, while $6 million economic impact on Industrial enjoys rental rate Lubbock. growth. Retail remains stable, while Multi-Family is red-hot inUnemployment 5.8% Unemployment 7.3% • X-Fab Texas and Cymbet will Class A. collaborate on the world’s highest-volume solid-state • Expansion is limited due to lackTotal Consumer battery production facility, a $12 Total Consumer of capital. Housing continues to $5,577,425 $32,574,138 grow. Expenditure million capital expenditure. Expenditure • Texas Tech University set a • Texas created 48% of the new record enrollment with 31,600 jobs in 2010. The market is Contact students in 2010, a 5.3% growth Contact enjoying domestic immigration over the previous year. In 2020, growth, adding upward pressure Coldwell Banker Commercial enrollment is projected to be Coldwell Banker Commercial to housing and existing Rick Canup, Realtors 40,000. Alamo City commercial product. 4924 S. Loop 289 18756 Stone Oak Parkway Suite 202 Lubbock, TX 79414 San Antonio, TX 78258 (806) 793-0888 (210) 483-6250 www.cbclubbock.com www.cbcalamo.com Office Retail Office Retail Vacancy n Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates p Rental Rates n Rental Rates q Rental Rates n Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption n Absorption p Rental Rates p Rental Rates p Rental Rates p Rental Rates n 28
  • 31. TX - Southeast Region TX - Tarrant County (Fort Worth area) Demographics Market Highlights Demographics Market Highlights Beaumont- Dallas- MSA • Zeep Energy announces a $1.6 MSA Fort Worth- • The Tarrant County Office market Port Arthur, TX billion new gasification plant. Arlington, TX (Fort Worth area) “bottomed out” in 2010, with absorption • Quantex Energy announces and rents projected to start Square Miles 904 the newest refinery to join the Square Miles 863 increasing in 2011. Industrial sector of southeast Texas. • McDonald’s (global) led Population 244,019 Population 1,810,308 expansion in 2010 for the • Motiva’s plant expansion enters the final phase, contributing over market, followed by Subway and $17 billion to the local economy Game Stop. Households 97,015 and doubling the plant’s capacity Households 668,814 for crude oil. • The Dallas / Fort Worth market is the 4th largest market in Household • Total nears the end of its $2.2 Household the nation, with approximately Income $65,220 billion expansion project and Income $80,196 11.8% vacancy, while the Average is in the planning stages for Average national average is about 10.1%. another expansion. Employees Employees (Total) 106,185 • Richard Design Services 673,443 • The largest Dallas / Fort Worth (Total) executes a 34,000 SF Office Industrial deal in 2010 was the lease as a result of demand for General Mills Lease, securing engineering services in local 860,000 SF in the AllianceUnemployment 11.0% plants. Unemployment 7.9% Development. • Local Retailers welcome • Texas was the No. 1 state for Ulta Cosmetics, Jos. A. Bank doing business in 2009 andTotal Consumer $4,833,329 Clothiers, Aaron Rents and Total Consumer $38,035,953 2010, followed by North Carolina Expenditure Expenditure Safelite Auto Glass to the and Tennessee (CNBC’s Top southeast Texas market. States for Business). • After stalling in 2009 and 2010, Contact the market is seeing increased Contact • Fort Worth / Arlington area inquiries and interest in the ranked No. 4 among the best Coldwell Banker Commercial area. Energy industries are Coldwell Banker Commercial cities for relocation, as the cost Arnold and Associates expanding and locating to the Searcy Vasseur Group of living is nearly 14% cheaper One Acadiana Court area again; spurring the need 6323 Camp Bowie Boulevard Beaumont, TX 77706 Suite 101 than the national average (409) 833-5055 for Retail, Office and additional Fort Worth, TX 76116 (Sperling’s Best Pages/CNBC). www.cbcaaa.com housing. (817) 335-7575 www.cbcsvgroup.com Office Retail Office Retail Vacancy q Vacancy q Vacancy n Vacancy n Absorption p Absorption p Absorption q Absorption q Rental Rates n Rental Rates n Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy N/A Vacancy q Vacancy n Vacancy n Absorption N/A Absorption p Absorption n Absorption q Rental Rates N/A Rental Rates n Rental Rates n Rental Rates n 29
  • 32. TX - Victoria, Victoria County UT - Salt Lake County Demographics Market Highlights Demographics Market Highlights • Caterpillar began construction Salt Lake City, • Tenants moving into the market MSA Victoria, TX MSA UT in early 2011 and plans to be in include: ATK - 615,000 SF production by mid 2012. (Industrial), Northrop Grumman - Square Miles 883 Square Miles 737 155,000 SF (Office). • Eagle Ford Shale discovery west of here has created a demand • Vacancy rates will remain for industrial sites. steady in the high range as new Population 88,311 Population 1,043,661 construction on some major • The University of Houston projects begins. Victoria announced a four-year Households 31,757 campus and welcomed first Households 344,943 • Major developments include: incoming freshman class. $1.5 billion dollar NSA data center and City Creek Retail Household • Retail Market remains flat Household Development of 876,000 SF. Income $68,767 Income $81,224 although there has been a slight Average Average increase in office occupancy. • Vacancy rates are steady on the higher side, absorption is on Employees Employees 32,597 • There has not been any 529,957 the rise, rental rates are steady (Total) (Total) significant construction of new but expected to edge down , homes in the past several years. investment activity is on the rise. No signification development ofUnemployment 7.2% building sites is planned at this Unemployment 6.8% • A sluggish local economy is time. A change in the housing moving in a positive direction. market is anticipated Utah is emerging from recessionTotal Consumer Total Consumer better than most states. Expenditure $1,737,216 • Senior Citizen/Retirement Expenditure $20,530,496 Services are considering several • Newsweek cited Salt Lake City sites for retirement living, among the top 10 places in assisted living and nursing home America poised for recovery. Contact projects. Contact Coldwell Banker Commercial • The petro-chemical plants Coldwell Banker Commercial The Ron Brown Company have expansions plans and NRT - Salt Lake City, UT 2505 N Navarro Street a construction project at the 6550 South Millrock Drive, Suite 200 Victoria, TX 77901 Salt Lake City, UT 84121 (361) 573-6191 Coleto Creek Power Plant has (801) 947-8300 www.ronbrown.com also been announced. www.coldwellutah.com Office Retail Office Retail Vacancy n Vacancy p Vacancy p Vacancy n Absorption n Absorption q Absorption p Absorption p Rental Rates n Rental Rates n Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy q Vacancy q Vacancy q Vacancy q Absorption p Absorption p Absorption p Absorption p Rental Rates p Rental Rates p Rental Rates q Rental Rates q 30
  • 33. WA - Clark County WA - Puyallup, Pierce County Demographics Market Highlights Demographics Market Highlights Portland- Seattle- Vancouver- • Hewlett Packard sold its MSA Tacoma- • Local Military bases are bringing MSA Beaverton, Vancouver, WA campus to Bellevue, WA troops home, stabilizing the area OR-WA SEH America, another hi-tech economy. company, then leased space in Square Miles 1,679 Square Miles 628 the Natilus building as they are • Tenants not sure about the downsizing. future are conservative about growing and moving. • City of Vancouver purchased a Population 802,016 Population 435,677 new City Hall. • Only Medical Office new construction and SBA loans are • Several new Retail funding. Households 307,658 Households 159,003 developments, anchored by big boxes such as Wal-Mart, • Absorption in Office was Home Depot and Lowes were Household negative Q4 2010. Household completed. Income $75,083 Income $70,471 Average • The Industrial market is stable Average compared to last year. • Even though there has been significant increase in leasing, Employees 247,029 Employees (Total) • All in all, the market is stagnant (Total) 116,906 vacancy is staying static because of new move-outs. other than MOB’s. Diversify into Property Management, REO’s • Port of Vancouver rail Unemployment 8.8% and consulting.Unemployment 9.9% improvements will be significant in new industry and job creation. Total Consumer • Investors are beginning to focus $17,870,253Total Consumer Expenditure Expenditure $9,158,947 on REO Subdivisions. • The overall market in Vancouver, Clark County, Washington has Contact Contact slowly been improving since Coldwell Banker Commercial 4th quarter of 2010. Indicators Coldwell Banker Commercial Jenkins-Bernhardt Associates suggest that it will continue to Offenbecher 1500 D Street improve albeit at a conservative/ 101 S Meridian Vancouver, WA 98663 Puyallup, WA 98371 (360) 699-4494 slow rate. (253) 840-5574 www.CBCWorldWideNW.com www.offenbecher.com Office Retail Office Retail Vacancy n Vacancy n Vacancy p Vacancy n Absorption p Absorption p Absorption q Absorption n Rental Rates q Rental Rates q Rental Rates q Rental Rates q Multi-Family Industrial Multi-Family Industrial Vacancy n Vacancy q Vacancy n Vacancy q Absorption n Absorption n Absorption n Absorption p Rental Rates n Rental Rates n Rental Rates n Rental Rates n 31
  • 34. WI - Rock County / Stateline Area Demographics Market Highlights MSA Janesville, WI • Melster Candy signed lease to occupy a 102,000 SF building in Janesville, WI. Square Miles 720 • Vacancy is holding steady with just one announcement of a plant closing in the last quarter Population 160,224 of 2010. • One new plant was erected Households 63,135 in Milton, WI, by Penn Color (50,000 SF). Household • Absorption is slow and lease Income $63,711 rates have fallen about 24%. Average • Stoughton Trailer just announced Employees 63,044 it may open its 350,000 SF (Total) trailer manufacturing building. • A proposed reorganization of theUnemployment 9.2% Wisconsin State Department of Commerce may create a shift in the labor force.Total Consumer $3,478,456 Expenditure Contact Coldwell Banker Commercial McGuire Mears & Associates 400 Midland Court, Suite 101 Janesville, WI 53546 (608) 752-6325 www.mcguiremears.com Office Retail Vacancy n Vacancy p Absorption p Absorption q Rental Rates n Rental Rates q Multi-Family Industrial Vacancy N/A Vacancy n Absorption N/A Absorption p Rental Rates N/A Rental Rates n 32
  • 35. Index by State Index by Market AL - Dothan, Houston County 2 Albuquerque, NM 20 AR - Hot Springs 2 Athens, GA 8 AR - Little Rock 3 Atlanta, GA 9 CA - Coachella Valley 3 Billings Metro, MT 16 CA - Inland Empire / Victor Valley 4 Bloomington / Normal, IL 10 CA - Los Angeles 4 Carson City, NV 20 CA - San Diego 5 Central, NJ 19 CA - San Fernando / San Gabriel Valley 5 Central Region, PA 24 CO - Durango 6 Champaign County, IL 11 FL - Charlotte County 6 Charleston / Tri-County, SC 25 FL - Jacksonville 7 Charlotte County, FL 6 FL - Orlando 7 Charlotte Metro Area, NC 17 FL - Southern Region 8 Chattanooga Metro Area, TN 26 GA - Athens 8 Chicago, IL 11 GA - Atlanta 9 Clark County, WA 31 HI - Honolulu 9 Coachella Valley, CA 3 ID - Coeur d’Alene 10 Coeur d’Alene, ID 10 IL - Bloomington / Normal 10 Columbia, SC 25 IL - Champaign County 11 Dallas, TX 27 IL - Chicago 11 Delaware, IN 12 IL - DuPage 12 Dothan, Houston County, AL 2 IN - Delaware 12 DuPage, IL 12 KY - Louisville 13 Durango, CO 6 LA - Lafayette 13 Greensboro / High Point Metro, NC 17 ME - Midcoast / Southern Regions 14 Greenville / Spartanburg, SC 26 MN - Minneapolis 14 Greenville, NC 18 MO - Southwest 15 Honolulu, HI 9 MO - St. Louis 15 Hot Springs, AR 2 MO/KS - Kansas City 16 Inland Empire / Victor Valley, CA 4 MT - Billings Metro 16 Jacksonville, FL 7 NC - Charlotte Metro Area 17 Kansas City, MO/KS 16 NC - Greensboro / High Point Metro 17 Knoxville, TN 27 NC - Greenville 18 Lafayette, LA 13 NC - Raleigh 18 Little Rock, AR 3 NJ - Central 19 Los Angeles, CA 4 NJ - Central 19 Louisville, KY 13 NM - Albuquerque 20 Lubbock, TX 28 NV - Carson City 20 Manhattan, NY 21 NY - Manhattan 21 Midcoast / Southern Regions, ME 14 NY - Upstate 21 Minneapolis, MN 14 OK - Oklahoma City 22 Northern, NJ 19 OK - Tulsa 22 Oklahoma City, OK 22 OR - Portland 23 Orlando, FL 7 OR - Salem 23 Pittsburgh, PA 24 PA - Central Region 24 Portland, OR 23 PA - Pittsburgh 24 Puyallup, Pierce County, WA 31 SC - Charleston / Tri-County 25 Raleigh, NC 18 SC - Columbia 25 Rock County / Stateline Area, WI 32 SC - Greenville / Spartanburg 26 Salem, OR 23 TN - Chattanooga Metro Area 26 Salt Lake County, UT 30 TN - Knoxville 27 San Antonio, TX 28 TX - Dallas 27 San Diego, CA 5 TX - Lubbock 28 San Fernando / San Gabriel Valley, CA 5 TX - San Antonio 28 Southeast Region, TX 29 TX - Southeast Region 29 Southern Region, FL 8 TX - Tarrant County (Fort Worth area) 29 Southwest, MO 15 TX - Victoria, Victoria County 30 St. Louis, MO 15 UT - Salt Lake County 30 Tarrant County (Fort Worth area), TX 29 WA - Clark County 31 Tulsa, OK 22 WA - Puyallup, Pierce County 31 Upstate, NY 21 WI - Rock County / Stateline Area 32 Victoria, Victoria County, TX 30
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