Industrial Market Report | 2014 Charleston Commercial Market Forecast
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2014 Charleston Commercial Market Forecast - Industrial market report presented by Michael Tall, President & Chief Operating Officer, Charlestowne Hotels.
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Industrial Market Report | 2014 Charleston Commercial Market Forecast
- 1. Commercial Real Estate Market Forecast October 8, 2014 | Daniel Island Club
- 2. www.CharlestonCommercialMarketForecast.com DEMAND POPULATION GROWTH RENTAL RATES VACANCY AEROSPACE DATA CONSOLIDATI ACTIVITY SUBMARKETS LEASE TERMS EXPANSION SPEC CONSTRUCTION DEMAND POPUL GROWTH DISTRIBUTION VACANCY INTERSTATE ACCESS TECHNOLOGY SALES ACTIVITY SUB LEASE TERMS EXPANSION NEW CONSTRUCTION JEDBURG DEMAND POPULATION GROWT RATES VACANCY AEROSPACE DATA CONSOLIDATION SALES ACTIVITY SUBMARKETS LEASE EXPANSION SPEC CONSTRUCTION DEMAND POPULATION GROWTH DISTRIBUTION VACAN INTERSTATE ACCESS TECHNOLOGY SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSIO CONSTRUCTION JEDBURG DEMAND POPULATION GROWTH RENTAL RATES VACANCY AEROSPACE CONSOLIDATION SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSION SPEC CONSTRUCTION DEM POPULATION GROWTH DISTRIBUTION VACANCY INTERSTATE ACCESS TECHNOLOGY SALES ACTIVITY LEASE TERMS EXPANSION NEW CONSTRUCTION JEDBURG DEMAND POPULATION GROWTH RENTAL VACANCY AEROSPACE DATA CONSOLIDATION SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSIO CONSTRUCTION DEMAND POPULATION GROWTH DISTRIBUTION VACANCY INTERSTATE ACCESS TECH SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSION NEW CONSTRUCTION JEDBURG DEMAND P GROWTH RENTAL RATES VACANCY AEROSPACE DATA CONSOLIDATION SALES ACTIVITY SUBMARKETS TERMS EXPANSION SPEC CONSTRUCTION DEMAND POPULATION GROWTH DISTRIBUTION VACANCY ACCESS TECHNOLOGY SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSION NEW CONSTRUCTIO DEMAND POPULATION GROWTH RENTAL RATES VACANCY AEROSPACE DATA CONSOLIDATION SALES SUBMARKETS LEASE TERMS EXPANSION SPEC CONSTRUCTION DEMAND POPULATION GROWTH DIS VACANCY INTERSTATE ACCESS TECHNOLOGY SALES ACTIVITY SUBMARKETS LEASE TERMS EXPANSIO CONSTRUCTION JEDBURG DEMAND POPULATION GROWTH
- 3. www.CharlestonCommercialMarketForecast.com Tri-County Industrial Market The Tipping Point: “Are We There Yet?” Alan A. Bolduc, CCIM, SIOR Senior Vice President Industrial & Investment Services alan.Bolduc@avisonyoung.com T 843.860.9566
- 4. www.CharlestonCommercialMarketForecast.com Local Industrial Brokerage firms and CoStar unifying the market, submarket and market data reporting.
- 6. www.CharlestonCommercialMarketForecast.com Sales Graphs on market data and trending National Cycle Lease
- 8. www.CharlestonCommercialMarketForecast.com 0 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000 60,000,000 2012 YE 2013 YE 2014 YTD 2015 F 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 2012 YE 2013 YE 2014 YTD 2015 F $3.50 $4.00 $4.50 $5.00 $5.50 $6.00 $6.50 $7.00 2012 YE 2013 YE 2014 YTD 2015 F 10 30 50 70 90 110 130 150 170 2012 YE2013 YE 2014 YTD RBA SF Vacancy Rate Average Asking Rent (NNN) Lease Transactions (Original & Sublet)
- 9. www.CharlestonCommercialMarketForecast.com $30.00 $40.00 $50.00 $60.00 $70.00 2012 YE 2013 YE 2014 YTD 0 10 20 30 40 50 2012 YE 2013 YE 2014 YTD Sold Transactions Median $/SF
- 10. www.CharlestonCommercialMarketForecast.com Aerospace 466 Companies 74% 5 employees or less Rail/Transloading Demand is Escalating Refrigerated/Frozen Pent up Demand (expanding from 50k SF to 550k SF in 2015) Tipping Points
- 14. www.CharlestonCommercialMarketForecast.com Reducing the Impediments to the Market Roads (In Process) • Clements Ferry Rd widening 4 lanes to Jack Primus Rd • Sheeps Island Interchange and Frontage Rds • Palmetto Commerce Pky Phase 3 Extension • Palmetto Commerce Pky, new 1-26 Interchange • New Airport Entrance and I-526/Montague redesign
- 20. www.CharlestonCommercialMarketForecast.com Reducing the Impediments to the Market New Construction 350k SF Class A Flex? 274k SF 140k SF
- 25. www.CharlestonCommercialMarketForecast.com Next Year: Still BETTER? More Port expansion investment and increased activity More Boeing and Aerospace expansions in the market New Class A buildings delivered More activity further west on 1-26 to Jedburg and beyond Increasing rents and longer leases Renovations of Class C properties?