1. 2011
Coldwell Banker Commercial
Blue Book
Mid Year Market Review

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 80 North
American markets.
The Blue Book highlights one of the strengths of the Coldwell Banker
Commercial organization: our national footprint.
The CBC organization’s strong local market coverage combined
with our global reach helps our clients obtain real-time market
information in order to make informed real estate decisions.
Sources of Information
Each market information comes from the CBC affiliate listed as the contact. Information is deemed from
sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and
LoopNet. Demographic information was pulled from EASI Demographics. A Core Based Statistical Area
(CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an
urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center
by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.

3. Table of Contents
AL - Dothan, Houston County 2 ME - Midcoast Region 23
AL - Montgomery County 2 MN - Mankato 23
AR - Hot Springs 3 MN - Minneapolis Metro 24
AR - Little Rock 3 MO - St. Louis Metro 24
CA - Inland Empire/Victor Valley 4 MT - Billings Metro 25
CA - Los Angeles 4 NC - New Hanover County 25
CA - Los Angeles, Westside 5 NC - Raleigh 26
CA - Modesto, Stanislaus County 5 NE - Lincoln 26
CA - Northern California/Bay area 6 NJ - Cape May County 27
CA - Orange County 6 NJ - Northern 27
CA - Redding 7 NM - Albuquerque 28
CA - Sacramento 7 NV - Carson City 28
CA - Temecula 8 NV - Reno/Sparks 29
CA - San Fernando/San Gabriel Valley 8 NY - Albany 29
CO - Mesa County 9 NY - New York City 30
CO - Southwest 9 ON - Greater Toronto Area 30
FL - Daytona Beach-Ormond Beach 10 OR - Portland 31
FL - Florida Keys 10 OR - Salem 31
FL - Jacksonville 11 PA - Northeastern 32
FL - Lakeland-Winter Haven 11 PA - Southwestern Region 32
FL - Orlando 12 SC - Charleston Metro 33
FL - Port St. Lucie 12 SC - Columbia 33
FL - Sarasota, Manatee, Charlotte Counties 13 SC - Greenville/Spartanburg 34
FL - South 13 TN - Knoxville/East Tennessee 34
FL - Southwest 14 TN - Metro Chattanooga, TN-GA 35
GA - Athens 14 TX - Austin 35
GA - Atlanta 15 TX - Brenham 36
GA - Atlanta Greater MSA 15 TX - Bryan-College Station 36
GA - Dalton, Whitfield County 16 TX - Fort Worth 37
GA - Savannah 16 TX - Houston 37
ID - Boise 17 TX - Lubbock 38
ID - Coeur d’Alene 17 TX - San Antonio 38
IL - Bloomington-Normal, McLean County 18 TX - South Central 39
IL - Champaign County 18 TX - Victoria County 39
IL - Chicago 19 UT - Salt Lake County 40
IL - Chicagoland 19 VA - Lynchburg 40
IN - Delaware County 20 WA - Clark County 41
KS - Kansas City Metro Area 20 WA - Puyallup, Pierce County 41
KY - Bowling Green 21 WA - South King County 42
KY - Louisville, Lexington & Elizabethtown 21 WA - Thurston County 42
LA - Lafayette 22 WI - Janesville/Beloit 43
LA - New Orleans 22

4. AL - Dothan, Houston County AL - Montgomery County
Demographics Market Highlights Demographics Market Highlights
• Medical industry growth Montgomery, • According to a Moody’s Economy
CBSA Dothan, AL CBSA
AL
continues to fuel the economy. report, Montgomery ranks 32nd
out of 387 U.S. metro areas in
Square Miles 1,718 • College of Osteopathic Medicine Square Miles 2,725 Employment Growth Rank projected
to be constructed in southeast for 2010-2015. Hyundai, Mobis,
AL. Hyundai Heavy, Kia, and expansion
of the Mobile port have all
Population 143,295 • Houston County continues as top Population 367,157
contributed to this growth.
Alabama county for out-shopping
per capita. • Montgomery ranked #8 for
Households 57,785 Households 147,017 Potential Job Growth in Forbes
• Publix opens third grocery store Magazine’s 2010 Best Places for
within one year. Business and Careers.
Household Household
Income 58,837 • Cost of Living Index for Dothan Income 68,657
Average Average
• 200,000 SF Class A suburban
one of the lowest in the nation. former Colonial Headquarters
Employees Employees
lands its first major tenant since
58,833 • Last census showed significant 144,160 Colonial’s collapse. Hewlett
(Total) (Total)
population growth in city and Packard takes roughly 50,000 SF.
county.
• Retirement System’s of Alabama
Unemployment 9.9% Unemployment 10.5%
(RSA’s) new 400,000 SF Class A
downtown building lands key tenant
with BB&T taking signage rights
Total Consumer Total Consumer and 11,000 SF. Office competition
$2,897,311 $7,403,292
Expenditure Expenditure with RSA having State money to
spend remains fierce.
• Former class B Regions CBD
Contact Contact Buildings enter the market for sale
with little occupancy.
Coldwell Banker Commercial Coldwell Banker Commercial
Alfred Saliba Realty Moore Company Realty • Class A CBD, former Colonial
410 North Shady Ln. 121 Coosa St. Suite 250
Dothan, AL 36303 Montgomery, AL 36104 Financial Center (prior to
(334) 793-6600 (334) 262-1958 Headquarters) back on the market-
www.alfredsalibacommercial.com www.cbcmcr.com for sale with about 70% occupancy.
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
2

5. AR - Hot Springs AR - Little Rock
Demographics Market Highlights Demographics Market Highlights
Little Rock-
CBSA Hot Springs, AR • Construction is underway for a North Little • 150,000 SF headquarters
CBSA
new Children’s Dental Clinic and Rock-Conway, campus for Southwest Power
a Medical Clinic adjacent to a AR Pool nears its Q2 2012
Square Miles 677 major healthcare facility. completion.
Square Miles 4,090
• A sales tax election will be held • Baptist Health joins medical
in October to fund a new $45M migration to suburbs with 20
Population 98,888 county jail. acre site acquisition.
Population 690,456
• New tenants in the area include • Super Target opens to
Households 43,175 Ross Dress, Newk’s Cafe, Home anchor Park Ave. Mixed-use
Goods and Logan’s Roadhouse. Households 276,042 development in Midtown;
Residential and Restaurant
Household • Sales volume of residential components to follow, as well as
Income 56,350
properties is down but prices Household more Retail Stores.
Average Income 71,848
have remained steady in the
Average
area. • Three market-rate Apartment
Employees
(Total)
32,750 developments announced in
• The unemployment rate Employees
(Total)
290,765 mid-2011.
has risen slightly to 8.4%.
Enrollment at the community • 280,000 SF Shackleford
Unemployment 8.4% college has increased this year. Crossings lifestyle center sells
Unemployment 7.5% out of foreclosure for $40M+.
• Local economy centers on
Total Consumer
tourism - the state’s largest • Nike and Apple stores join tenant
Expenditure
$2,214,734 convention center continues to roster at upscale Promenade at
Total Consumer
increase scheduled events. Expenditure
$14,773,932 Chenal.
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
RPM Hathaway Group
401 Section Line Rd. 2100 Riverdale Rd. Suite 100
Hot Springs, AR 71913 Little Rock, AR 72202
(501) 520-4000 (501) 663-5400
www.cbcrpm.com www.hathawaygroup.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy N/A Vacancy  Vacancy 
Absorption  Absorption N/A Absorption  Absorption 
Rental Rates  Rental Rates N/A Rental Rates  Rental Rates 
3

6. CA - Inland Empire/Victor Valley CA - Los Angeles
Demographics Market Highlights Demographics Market Highlights
Riverside-San Los Angeles-
CBSA Bernardino- • 65.4% increase in commercial CBSA Long Beach- • Stronger property sectors are:
Ontario, CA sales and leasing volume in Santa Ana, CA Apartments, Medical Office, and
market area Q2 2011 over Q2 Industrial.
Square Miles 27,260
2010. Square Miles 4,850
• Retail and Office continue with
• Increase in land acquisition by spotty rental weakness.
builders and developers.
Population 4,171,856 Population 12,935,173 • Latest Wall Street and
• Increased demand for Washington announcements
agricultural land. cause many to hit the “pause”
button.
Households 1,350,253 Households 4,288,080
• Two Super Wal-Marts held
ground-breaking ceremonies • Investors have cash, but are not
Household with three additional planned for Household sure if we are yet at the bottom.
Income 67,386 construction in 2012. Income 87,517
Average Average • Not much observable growth
• Multi-Family average sales price (positive absorption minimal).
Employees
1,156,307 PSF increased 15% Q2 - 2011 Employees
5,313,010
(Total) over Q1 - 2011. (Total) • Unlike 2008, there is more
resiliency (and a bit more
optimism).
Unemployment 14.2% Unemployment 11.6%
Total Consumer Total Consumer
$74,545,969 $247,828,803
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Real Estate Solutions WESTMAC
15500 W Sand St., 2nd Floor 1515 Sepulveda Blvd.
Victorville, CA 92392 Los Angeles, CA 90025
(760) 684-8000 (310) 478-7700
www.CBCdesert.com www.westmac.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
4

7. CA - Los Angeles, Westside CA - Modesto, Stanislaus County
Demographics Market Highlights Demographics Market Highlights
Los Angeles-
CBSA Long Beach- • Google leases 100,000 SF in CBSA Modesto, CA • Stanislaus County is located in
Santa Ana, CA Venice to house hundreds of the Central Valley. It’s county seat
employees. is Modesto, which is where many
Square Miles 4,850 Square Miles 1,494 people in the surrounding areas
• Multi-Family market very shop.
competitive in “A” areas.
• The major industry is AG-related,
Population 12,935,173 • Demand is high for quality Population 517,685 employing approximately 18,000
assets in quality areas. people or 11.3% of a total of
160,000 people who are employed.
• Demand is high for 100+ Households 165,312 Unemployment varies based on the
Households 4,288,080
Apartment units. fact that most of the AG jobs are
seasonal.
Household • Residential and Mixed-Use Household
Income 87,517 developers hunt for prime land. Income 62,281
Average
• Shopping areas that are well
Average
located have been attracting
• Investment money all chasing new tenants with some major
Employees the same product. Employees
5,313,010 (Total)
160,100 remodeling. Due to lack of new
(Total)
construction, the vacant space has
been absorbed as needs arise.
Kaiser Permanente built a major
Unemployment 11.6% Unemployment 17.2%
hospital complex with Memorial
Hospital making a major expansion.
Total Consumer Total Consumer • Major layoffs in government sector
$9,093,539
Expenditure
$247,828,803 Expenditure based on tax assessments being
lowered by a downturn in real
estate values. Leveling out has
occurred and all are hoping real
Contact Contact estate prices will start to rise in
2012. This will only come if the
Coldwell Banker Commercial Coldwell Banker Commercial unemployment in the area starts to
NRT- Los Angeles Vinson Chase, Realtors
11999 San Vicente Blvd. Suite 100 220-A Standiford Ave. decline.
Los Angeles, CA 90049 Modesto, CA 95350
(310) 979-4990 (209) 577-2121 • Office and Retail are improving in
www.cbcworldwide.com www.cbcworldwide.com good centers and locations.
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
5

8. CA - Northern California/Bay area CA - Orange County
Demographics Market Highlights Demographics Market Highlights
San Los Angeles-
CBSA Jose-Sunnyvale, • Apple Inc. has expanded their CBSA Long Beach- • Irvine Company building a
Santa Clara, CA presence in the area. Santa Ana, CA 380,000 SF build-to-suit for
PIMCO in Newport Beach.
• Tesla, the electric car company,
Square Miles 2,680 Square Miles 4,850
has opened a retail location in • Office market is still out but
Santa Row, San Jose as well as Retail and Industrial are showing
taking over the Nummi plant in signs of tightening.
Population 1,854,885 Fremont. Population 12,935,173
• Very little new commercial
• In general, new construction construction except Multi-Family.
still remains slow but two new
Households 628,862 Households 4,288,080
Multi-Family projects have been • Residential absorption is still way
completed. off and market is flat.
Household Household
Income 122,345 • Due to the current economy, the Income 87,517 • Trophy properties are being
Average number of short sales has risen Average snapped up, while B,C and D
as well the REA properties in types are still sitting.
Employees general. Employees
895,978 5,313,010
(Total) (Total) • The Orange County market has
• Since the Bay Area is a high- shown signs of stabilization in
tech market, the stock market the commercial arena. There has
Unemployment 10.5% does have a significant effect on Unemployment 11.6% not been a lot of new tenants or
market changes. The Bay Area is buyers entering the market just
a leader in green technology and yet.
is benefitting from government
Total Consumer Total Consumer
Expenditure
$42,651,616 support/funding. Expenditure
$247,828,803
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Bay NRT - Newport Beach
20490 Los Gatos Rd. 4 San Joaquin Plz Suite 260
Saratoga, CA 95070 Newport Beach, CA 92660
(408) 835-7030 (949) 644-1600
www.cbcworldwide.com www.cbcworldwide.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
6

9. CA - Redding CA - Sacramento
Demographics Market Highlights Demographics Market Highlights
Sacramento-
CBSA Redding, CA • Stillwater Business Park has 100+ CBSA -Arden-Arcade- • Prime Residential sold the 612-
acres in escrow. -Roseville, CA unit Multi-Family property Slate
Creek at Johnson Ranch in north
Square Miles 3,785 • Multi-Family market is strong. suburban Roseville, for $76.5
Square Miles 5,094
million.
• Government leases dominating
the office sector. • KBS Capital Advisors paid Opus
Population 181,457 Population 2,141,658 West Corporation $47.4 million
• Industrial activity is generally ($206 PSF) for 230,000 SF of
sluggish. Office in Gateway Corporate
Households 71,491 Households 801,834
Center Buildings A and B.
• Unemployment rate stuck at 15%.
• HomeGoods and a Jo-Ann
Household • Commercial foreclosures keeping Household Fabrics and Craft stores, have
Income 60,230 downward pressure on values. Income 77,526 signed on for a combined total
Average Average
of 45,590 SF, partially filling
• Overall health of the market a former Mervyn’s space at
Employees is better than last year, but Employees
(Total)
53,468 727,825 Folsom Square.
fundamental problems persist. (Total)
High unemployment and slow • The Promenade at Sacramento
housing market are keeping Gateway has landed Bed Bath
Unemployment 15.0% offices vacant (i.e. fewer title Unemployment 12.3% & Beyond to fill a 28,000 SF
companies, loan offices, etc). 3 of anchor space.
the market’s 4 largest industrial
buildings have been foreclosed
Total Consumer Total Consumer
Expenditure
$3,836,110 (and remain vacant). $46,256,089
Expenditure
• Retail has turned for the
better with a nearly 3% drop in
vacancy in 12 months. Multi-
Contact Family occupancy levels have Contact
Coldwell Banker Commercial remained stable and rents are Coldwell Banker Commercial
C&C Properties rising, making this a safe-haven NRT - Sacramento
2155 Larkspur Ln. investment alternative. Financing 730 Alhambra Blvd.
Redding, CA 96002 Sacramento, CA 95816
(530) 222-2011 remains difficult to obtain, but (916) 447-5900
www.cbcnorthstate.com much improved over last year. www.cbcworldwide.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
7

10. CA - Temecula CA - San Fernando/San Gabriel Valley
Demographics Market Highlights Demographics Market Highlights
Riverside-San Los Angeles-
CBSA Bernardino- • There has been a slight drop in CBSA Long Beach- • Major tenants moving in: 99
Ontario, CA office vacancy rates (19.7% from Santa Ana, CA Cents Stores - 622,000 SF; Nova
19.4%). Inc. - 259,000 SF, and Phoenix
Square Miles 27,260 Square Miles 4,850
Warehouse 22,000 SF.
• Average Office lease rates
increased from $1.517 to • No new speculation development
$1.525 because of a 16.2% office
Population 4,171,856 Population 12,935,173 vacancy rate.
• Industrial vacancy rates
decreased from 9.8% - 9.3% • Green Dot, an expansion of a
credit card company, may lease
Households 1,350,253 Households 4,288,080
• Industrial lease rates declined 110,000 SF of Office space.
from $0.478 to $0.475
Household Household • Many companies want to move
Income 67,386 • Industrial lease rates have slid Income 87,517 to or remain in Pasadena
Average for 11 of the last 12 quarters. Average because it has international
name identification and superb
Employees
1,156,307
• There has been a slight increase Employees
5,313,010 retail amenities.
(Total) in Retail vacancy from 9.6% – (Total)
10.1% • There has been a slight
improvement in the market due
Unemployment 10.4% Unemployment 11.6% to increased optimism.
• Port activity continues to drop.
Total Consumer Total Consumer • Medical and social media
$74,545,969 $247,828,803
Expenditure Expenditure
companies are expanding.
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Sudweeks Group North County
27708 Jefferson Ave. Suite 201 801 N. Brand Blvd. Suite 180
Temecula, CA 92591 Glendale, CA 91203
(951) 200-7683 (818) 334-1900
www.cbcsuds.com www.cbcnco.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
8

11. CO - Mesa County CO - Southwest
Demographics Market Highlights Demographics Market Highlights
Grand Junction, • New major tenant moving into • T.J. Maxx to open in Durango.
CBSA CBSA Durango, CO
CO
the market: Energy Capital of
Western Colorado. • Downtown vacancies are
Square Miles 3,328 Square Miles 1,692 decreasing.
• Retail continues to roll.
• Residential market showing
• Residential market finding a significant improvement.
Population 148,298 floor. Population 51,899
• New construction still lagging
• This wonderful community but more business inquires
Households 60,317
is working to ease business Households 21,722
occurring and a few large
regulation and providing projects are on the horizon.
incentives for large employers to
Household both grow and locate here. Household • Gas exploration is still an
Income 61,730 Income 76,152 economic driver.
Average Average
• Uranium, coal and natural gas
exploration expands. • The number of airlines serving
Employees Employees the area has increased, making
54,564 21,431
(Total) (Total)
• Local wineries had a banner Durango an easier and more
year. economical destination for
business and visitors. This
Unemployment 10.3% Unemployment 7.5% includes several United and
Frontier flights to Denver Daily,
as well as American Eagle flights
Total Consumer Total Consumer
to Dallas.
$3,278,410 $1,253,117
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
Prime Properties, LLC Heritage House Realtors
550 Patterson Rd. Suite B 785 Main Ave.
Grand Junction, CO 81506 Durango, Colorado 81301
(970) 243-7375 (970) 259-3333
www.grandjunctioncommercial.com www.realestatedurango.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
9

12. FL - Daytona Beach-Ormond Beach FL - Florida Keys
Demographics Market Highlights Demographics Market Highlights
Deltona-
Daytona • ARK Technology and OEM Auto Parts CBSA Key West, FL • Walgreens, Dollar Tree, Mattress
CBSA
Beach-Ormond are using a fully-computerized CNC Firm are expanding or entering
Beach, FL operation with 40 employees and new the market.
45,000 SF manufacturing facility. Square Miles 997
Square Miles 1,103
• Vacancy is falling due to
• Five major universities, two of the increased demand.
top 10 high schools in the nation,
and the third best school district in Population 73,047 • New Walgreens and Holiday Inn
Population 495,625 the southeast, are located in Volusia Express in the market.
County.
Households 32,553
• Prices are rising and inventory is
Households 214,567 • Daytona Beach Live, 76,000 SF falling; only about 10% of which
Office Complex for NASCAR and the is distressed.
Daytona Speedway World Center of Household
Household Income 98,489 • Tourism is a major local industry
Racing, home of the Daytona 500 has Average
Income 62,419 and hospitality enjoys the
recently been developed.
Average highest ADR & occupancy in the
Employees
• Two brand new hospitals built. 29,685 state.
Employees (Total)
(Total)
146,482 One had the first robotic surgery
performed in the U.S., the other has • Significant development
the newest oncology center. Both restrictions create high barriers
Unemployment 7.0% to entry.
hospitals represent 1,221 new beds
Unemployment 11.0% in the area.
• A new business incubator that is part Total Consumer
of the University of Central Florida, $1,953,037
Total Consumer Expenditure
$11,430,585 is now open, and has a number one
Expenditure
ranking in the nation for this type of
program
Contact Contact
• 28 miles of beachfront with 15 miles
Coldwell Banker Commercial in a core Resort-Hospitality related Coldwell Banker Commercial
Benchmark industry that has the infrastructure in Schmitt Real Estate Company
570 Memorial Cir. Suite 300 11050 Overseas Highway
Ormond Beach, FL 32174 place as well as pricing for the next Marathon, Florida 33050
(386) 672-8530 movement in the market. The Resort- (305) 743-5181
www.cbcbenchmark.com Vacation-Hospitality industry is up www.commercialfloridakeys.com
over last year to date.
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
10

13. FL - Jacksonville FL - Lakeland-Winter Haven
Demographics Market Highlights Demographics Market Highlights
Lakeland -
CBSA Jacksonville, FL • The Jacksonville Port Authority CBSA Winter Haven, • Florida Southern College named
is continuing negotiations to FL “most beautiful campus in US”
purchase 23 acres of property on by Princenton Review.
Square Miles 3,221 Talleyrand Ave across from the Square Miles 2,010
Port HQ building. The purchase • USF Poly starts construction
price is reported to be $2M and on 172-acre campus at I-4 &
should close in October 2011. Polk Parkway -- rumored to be
Population 1,334,380 Population 599,564 re-branded as Florida’s 1st
• The St. Johns Town Center, polytechnical university.
consisting of 1.23M SF continues
Households 518,910 to attract new tenants to remain • Publix supermarkets announces
Households 233,208
fully leased. The center will gain 2nd quarter sales of $6.6 billion,
six new retailers this fall, and four a 9.7% increase, and first half
Household sales of $13.4 billion, a 5.7%
Income 76,866
of them are new to North East FL. Household
Income 55,323 increase.
Average Average
• Ashburg LLC purchased an
18,462 SF office building in • Legoland Florida, which is
Employees Employees
(Total)
551,254 Marsh Landing Office Park for 239,100 scheduled to open October 15th
(Total)
$2.25M or about $122 PSF. -- hires 1,000 new employees.
• The University of North Florida • CSX intermodal (300+ acres)
Unemployment 10.3% in south Winter Haven to begin
makes Number 19 on Forbes Unemployment 11.7%
‘Best Buy Colleges List.’ UNF construction later in 2011.
ranked on the America’s Best
Total Consumer Colleges 2011 list. • Polk economy continues to lag.
Total Consumer
Expenditure
$28,590,862 $12,107,983 Brookings reports housing prices
Expenditure
• The top three public company down 46.2% from peak.
employers for 2011 in NE Florida
are: CSX Corp., Winn-Dixie Stores • Lakeland-Winter Haven market
Inc., & Fidelity National Financial has lagged the state, which has
Contact Contact
Inc. lagged the nation. This presents
Coldwell Banker Commercial Coldwell Banker Commercial excellent buying opportunities.
Benchmark • Several tenants have moved into Saunders Ralston Dantzler Realty Owner/user financing is readily
4348 Southpoint Blvd. Suite 310 114 N Tennessee Ave. available at attractive rates.
Jacksonville, FL 32216 large blocks of space: PNC Bank - Lakeland, FL 33801
(904) 281-1990 57,865 SF and Fortegra Financial (866) 937-2246
www.cbcbenchmark.com - 48,864 SF. www.SRDcommercial.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
11

14. FL - Orlando FL - Port St. Lucie
Demographics Market Highlights Demographics Market Highlights
Orlando, • Industrial and Office have Port St. Lucie, • Two recent ten-year Retail leases
CBSA CBSA
Kissimmee, FL FL
improved over the first two signed this month in Port St. Lucie.
quarters.
Square Miles 3,491 Square Miles 1,128 • Two contracts have been executed
• Retail, while not improving, is at on vacant land for the first time in
least flat. several years. One parcel for office
in St. Lucie West, and the second
Population 2,093,845 • Office has 703,332 SF of new Population 407,361 will be retail on U.S. One in Stuart,
construction. adjacent to Wal-Mart.
Households 799,047
• More commercial REO properties Households 169,340 • St. Lucie Economic Development
are coming on the market. Council is working on more deals
than any time the in past five years.
Household • Commercial lending is beginning Household Several pharmaceutical companies
Income 70,380 to return to normal. Income 74,600
Average Average
want to locate near Torrey Pines and
VGTI in Tradition in Port St. Lucie.
• Interest in investment with
Employees commercial real estate is Employees
(Total)
956,766
(Total)
117,662 • New office buildings are gaining
improving. tenants. 60,000 SF have been
absorbed in St. Lucie West since last
fall.
Unemployment 10.4% Unemployment 12.5%
• Small Retail locations are leasing at
NNN rates between $7 PSF and $15
Total Consumer Total Consumer PSF.
$43,646,748 $9,326,748
Expenditure Expenditure
• Several restaurant chains have
expanded to Port St. Lucie.
• Flex space was overbuilt following
Contact Contact
2004 hurricanes. The residential
Coldwell Banker Commercial Coldwell Banker Commercial market is dead. Home prices are at
NRT-Maitland NRT-Port St. Lucie 1999 levels. There are many start up
901 N Lake Destiny Dr. Suite 110 1973 SW Savage Blvd. businesses. Tenants are upgrading
Maitland, FL 32751 Port St Lucie, FL 34953
(407) 539-1000 (561) 995-7564 to better space within the city.
www.cbcworldwide.com www.cbcworldwide.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy N/A
Absorption  Absorption  Absorption  Absorption N/A
Rental Rates  Rental Rates  Rental Rates  Rental Rates N/A
12

15. FL - Sarasota, Manatee, Charlotte Counties FL - South
Demographics Market Highlights Demographics Market Highlights
Sarasota, Miami-Fort
CBSA Bradenton, • Office vacancy is on the rise. Lauderdale- • Multi-Family is the strongest
CBSA
Venice, FL Pompano sector of the market.
• Office space is at negative Beach, FL
absorption. • Retail, Office, and Industrial
Square Miles 1,313
Square Miles 5,126
vacancy rates are declining.
• Industrial lease rates and
vacancy at a juxtaposition. • Absorption is positive across all
Population 689,676 Industrial seems to be the markets.
strongest market in this area, Population 5,566,404
which reflects on more jobs. • Residential markets are
improving in ASP and units.
Households 311,173
• Retail is steady. Households 2,128,471
• Foreign investment is increasing.
Household • Inventory for commercial is at six
Income 79,698 months. Household • Rental rates may have bottomed.
Average Income 82,033
• In Sarasota and Manatee, the Average
Employees
230,801
average time on the market for
(Total) housing is from 18-22 months. Employees
2,069,525
(Total)
• Multi-Family is strong in this
Unemployment 10.9% market.
Unemployment 11.8%
Total Consumer
$17,718,836
Expenditure Total Consumer
$117,802,559
Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
NRT- Sarasota NRT- Boca Raton
100 N Tamiami Trl. 3837 NW Boca Raton Blvd. Suite 200
Sarasota, FL 34236 Boca Raton, FL 33431
(941) 925-8586 (561) 479-1225
www.cbcworldwide.com www.cbcworldwide.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
13

16. FL - Southwest GA - Athens
Demographics Market Highlights Demographics Market Highlights
Naples-Marco • Arthrex is expanding; buying Athens-Clarke • According to University of
CBSA CBSA
Island, FL County, GA
240,000 SF warehouse Georgia President Michael
and building 120,000 SF Adams, UGA enrollment is at an
Square Miles 2,025 manufacturing location. Square Miles 1,031 all-time high and the class of
2015 is likely to be the largest
• Vacancies slowly dropping. freshman class in the school’s
history.
Population 320,101 • New construction of commercial Population 193,495
product is almost non-existent • The University of Georgia and the
until home construction picks Medical College of Georgia have
Households 132,487 up. Households 77,486 partnered to establish an Athens
campus that will be located on
• Inventory is way down and sales the 58-acre former U.S. Navy
Household are up. Household
Income 118,854 Income 57,618
Supply Corps property in Athens,
Average Average GA.
• $1,000,000+ homes and
condos are rising in price. • Tripp Umbach, a medical
Employees Employees
(Total)
115,960
(Total)
60,760 education planning organization,
estimates that at least $180
million will be invested
commercially as a result of
Unemployment 11.3% Unemployment 8.4%
medical research growth in the
Athens area.
Total Consumer Total Consumer
$8,298,345 3,833,666.80
Expenditure Expenditure
Contact Contact
Coldwell Banker Commercial Coldwell Banker Commercial
NRT- Naples Upchurch Realty
550 Fifth Ave. South 2405 W Broad St.
Naples, Florida 34102 Athens, Georgia 30606
(239) 596-6130 (706) 354-7870
www.cbcworldwide.com www.upchurchrealtycommercial.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
14

17. GA - Atlanta GA - Atlanta Greater MSA
Demographics Market Highlights Demographics Market Highlights
Atlanta-Sandy Atlanta-Sandy
CBSA Springs, • Clorox’s move out of 607,650 CBSA Springs, • Wells Fargo Bank signed a lease to
Marietta, GA SF was the largest in the 2nd Marietta, GA occupy 38,197 SF, which included
quarter. an expansion of 21,540 SF.
Square Miles 8,376 Square Miles 8,376
• Office absorption totaled nearly • Lack of supply and new
400,000 SF in the 2nd quarter. construction in Multi-Family has
pushed rents higher and vacancies
Population 5,521,582 • Cox Communication’s build-to- Population 5,521,582 lower.
suits are the only significant
buildings under second quarter • Retail has seen a net absorption of
construction. 134,000 SF.
Households 2,028,400 Households 2,028,400
• 15,000 to 40,000 SF move- • The first quarter of 2011 saw office
Household ins included Agilysys, Kaiser Household building sales prices rise to $183
Income 77,990 Permanente, North American Income 77,990 PSF, compared to the same period
Average Electric Reliability Corporation, Average in 2010 at $143 PSF.
ThyssenKrupp IT and Turner
Employees
2,223,339 Broadcasting. Employees
2,223,339 • The overall market continues to
(Total) (Total) firm up with increased activity in
• Office rental rates decreased for most sectors.
the 11th time in 12 quarters.
Unemployment 9.9% Unemployment 9.9% • According to the National
• Over the past four quarters, a Association of Women Business
total of 167,416 SF of Retail Owners, Georgia/Atlanta ranks
space has been built in Atlanta. number one in percent growth in
Total Consumer Total Consumer
$110,119,865 $110,119,865 number, employment and sales for
Expenditure Expenditure
women-owned firms.
• The Atlanta MSA consists of
28 counties, over 7 million in
Contact Contact
population and includes the
Coldwell Banker Commercial Coldwell Banker Commercial world’s busiest airport, superior
Metro Brokers NRT-Atlanta intermodal connections making
3575 Piedmont Rd. 6285 Barfield Rd. Suite 100 it the distribution hub for the
NE Piedmont Center Building 15, Suite 950 Atlanta, Georgia 30328
Atlanta, GA 30305 (404) 705-1590 southeast; Atlanta’s median
(678) 320-4800 www.cbcworldwide.com household income is 13% higher
www.cbcworldwidemetro.com than the national average.
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
15

18. GA - Dalton, Whitfield County GA - Savannah
Demographics Market Highlights Demographics Market Highlights
CBSA Dalton, GA • Carbondale Business Park, CBSA Savannah, GA • Gulfstream Aerospace plans a
a 184-acre public-owned $500 million expansion to add
Industrial/Commercial Park is 1,000+ jobs to the market.
Square Miles 634 under construction. Located just Square Miles 1,359
off I-75 with available lots from • 2011 Savannah Tourism Industry
3-50 acres with all utilities. outpacing 2010 record year.
Population 134,366 • XL Brands, LLC, a subsidiary of Population 347,453 • Mitsubishi Power Systems
Textile Rubber Corp. is expanding growing faster than expected.
its production and shipping
Households 46,872 capacity with the purchase of Households 130,609
• Plans for river deepening in
16.3 acres in the Carbondale anticipation of Savannah Port
Business Park. Construction Expansion.
Household Household
Income 60,458
has already started on a new Income 74,653
122,000 SF facility. • Savannah ranks as a Top 5
Average Average
container port in the United
• Engineered Floors, LLC., a carpet States.
Employees Employees
(Total)
64,498 manufacturer, has purchased 52 (Total)
129,296
acres in South Whitfield County • JCB officially marks 65th
to build a 211,000 SF facility anniversary as robust earnings
with plans for future expansion. are restored.
Unemployment 12.1% Unemployment 9.5%
• New Kohl’s opening Fall of 2011.
Total Consumer • Upscale Retail development sites Total Consumer
$2,494,255 available. $6,804,089
Expenditure Expenditure
• Dalton State College contributed
nearly $115 million into the
Contact regional economy according to Contact
the University System of Georgia.
Coldwell Banker Commercial Coldwell Banker Commercial
Kinard Realty Platinum Partners
704 S Thornton Ave. 128 Habersham St.
Dalton, GA 30720 Savannah, GA 31401
(706) 226-1985 (912) 232-7120
www.cbcnorthgeorgia.com www.cbcplatinum.com
Office Retail Office Retail
Vacancy  Vacancy  Vacancy  Vacancy 
Absorption  Absorption  Absorption  Absorption 
Rental Rates  Rental Rates  Rental Rates  Rental Rates 
Industrial Multi-Family Industrial Multi-Family
Vacancy  Vacancy  Vacancy  Vacancy N/A
Absorption  Absorption  Absorption  Absorption N/A
Rental Rates  Rental Rates  Rental Rates  Rental Rates N/A
16