The industrial market in North San Diego County experienced minimal activity in the first quarter of 2012. The overall vacancy rate was 10.6% as of Q1 2012, a decrease from previous quarters due to 172,000 square feet of positive net absorption. By submarket, Escondido had the lowest vacancy rate at 6.5% while Carlsbad had the highest at 14.4%. Investment and leasing activity was slow in the first quarter with few major transactions, but the market is forecast to see increased activity in the second quarter and gradual increases in rental rates and sale prices as vacancy continues to decline.
This industrial report summarizes the North San Diego County industrial market in the 4th quarter of 2011. The market consists of over 52 million square feet spread across five cities. Vacancy declined slightly to 10.9% as net absorption of 566,762 square feet occurred. Large tenants like BREG, Zodiac, John Deere, and SKLZ contributed to positive absorption. Owner-users and investors were cautiously active in the market, with owner-users focusing on spaces between 15,000-35,000 square feet taking advantage of interest rates between 4-5%.
This report summarizes industrial real estate market trends in North San Diego County during the 2nd quarter of 2012. Key points include:
- Total vacancy rates dropped below 10% for the first time since 2008, led by declines in Carlsbad and Oceanside.
- Absorption has already surpassed totals for all of 2011, with research and development space seeing more absorption than industrial space.
- Investment and leasing activity increased across the region, including several large transactions in Carlsbad.
- With declining vacancies and no new construction, the report forecasts vacancy rates will continue dropping in the second half of the year.
The team concentrates on the aviation sector and has experience handling complex transactions. They have financed working capital needs and bridge financing of aircraft for companies like Air Lease Corporation. They have also underwritten public offerings of enhanced equipment trust certificates and pass through certificates for airlines like Continental Airlines, secured by Boeing aircraft.
The document is ITW's 2003 annual report. It provides an overview of ITW's financial highlights for 2003 including operating revenues, operating income, income from continuing operations, earnings per share, returns and cash flows. It also summarizes ITW's business segments and major product categories. The report discusses ITW's decentralized structure across multiple business units and brands, and how its focus on diversification, continual improvement, and serving customers helps drive financial results.
Jim Skippen, President & CEO of Wi-LAN, presented an overview of the company. Wi-LAN generates revenue through licensing its large patent portfolio. It has a growing portfolio of over 3,000 patents and has licensed to over 255 companies. Wi-LAN has experienced strong revenue growth in recent years, with revenues reaching $105.8 million in 2011. It aims to increase revenues to over $200 million in the next five years through licensing current programs, acquiring new patents, and research and development. Wi-LAN is well positioned for continued growth and increasing shareholder value.
This document provides an overview and corporate presentation for Cabo Drilling Corp. Key points include:
- Cabo is a mineral drilling services company operating over 100 drill rigs across North America, Central America, and Europe.
- Revenue declined after 2008 but has increased 50% from 2010 to $43.42 million in 2011, with a target of reaching the 2008 high of $58.65 million in 2012.
- The company aims to expand its global market presence and improve operational efficiencies while maintaining a strong focus on safety and community relations.
What’s the first thing you think about when you hear the word “maintenance”?
Trouble? Bad news? A necessary evil? Or just plain boring?
Then August 7, 2006 should be your wake-up call.
That’s when oil giant BP admitted a tiny quarter-inch hole was part of a widespread corrosion problem affecting 16 miles of a 22-mile pipeline from Prudhoe Bay.
As a result, BP was forced to shutdown up to 400,000 barrels a day of production from the largest oil field in the United States.
The costs are staggering. However, BP’s battles with corrosion in its 29-year-old Alaskan oil pipeline are a reflection of a much bigger concern for many big corporations. Aging assets and years of poor maintenance are now taking their toll on profits.
So that’s why we published this special report. Here are 10 important lessons you can learn from BP’s experience – surely one of the most expensive mistakes in recent history.
Gafisa reported its 2Q10 results, highlighting strong growth. Launches totaled R$1 billion, up 61% year-over-year. Pre-sales reached R$889 million, up 7% quarter-over-quarter. Adjusted EBITDA was R$184 million with a 19.8% margin, up 66% year-over-year. The company maintained its 2010 launch guidance of R$4-5 billion and EBITDA margin guidance of 18.5-20.5%.
This industrial report summarizes the North San Diego County industrial market in the 4th quarter of 2011. The market consists of over 52 million square feet spread across five cities. Vacancy declined slightly to 10.9% as net absorption of 566,762 square feet occurred. Large tenants like BREG, Zodiac, John Deere, and SKLZ contributed to positive absorption. Owner-users and investors were cautiously active in the market, with owner-users focusing on spaces between 15,000-35,000 square feet taking advantage of interest rates between 4-5%.
This report summarizes industrial real estate market trends in North San Diego County during the 2nd quarter of 2012. Key points include:
- Total vacancy rates dropped below 10% for the first time since 2008, led by declines in Carlsbad and Oceanside.
- Absorption has already surpassed totals for all of 2011, with research and development space seeing more absorption than industrial space.
- Investment and leasing activity increased across the region, including several large transactions in Carlsbad.
- With declining vacancies and no new construction, the report forecasts vacancy rates will continue dropping in the second half of the year.
The team concentrates on the aviation sector and has experience handling complex transactions. They have financed working capital needs and bridge financing of aircraft for companies like Air Lease Corporation. They have also underwritten public offerings of enhanced equipment trust certificates and pass through certificates for airlines like Continental Airlines, secured by Boeing aircraft.
The document is ITW's 2003 annual report. It provides an overview of ITW's financial highlights for 2003 including operating revenues, operating income, income from continuing operations, earnings per share, returns and cash flows. It also summarizes ITW's business segments and major product categories. The report discusses ITW's decentralized structure across multiple business units and brands, and how its focus on diversification, continual improvement, and serving customers helps drive financial results.
Jim Skippen, President & CEO of Wi-LAN, presented an overview of the company. Wi-LAN generates revenue through licensing its large patent portfolio. It has a growing portfolio of over 3,000 patents and has licensed to over 255 companies. Wi-LAN has experienced strong revenue growth in recent years, with revenues reaching $105.8 million in 2011. It aims to increase revenues to over $200 million in the next five years through licensing current programs, acquiring new patents, and research and development. Wi-LAN is well positioned for continued growth and increasing shareholder value.
This document provides an overview and corporate presentation for Cabo Drilling Corp. Key points include:
- Cabo is a mineral drilling services company operating over 100 drill rigs across North America, Central America, and Europe.
- Revenue declined after 2008 but has increased 50% from 2010 to $43.42 million in 2011, with a target of reaching the 2008 high of $58.65 million in 2012.
- The company aims to expand its global market presence and improve operational efficiencies while maintaining a strong focus on safety and community relations.
What’s the first thing you think about when you hear the word “maintenance”?
Trouble? Bad news? A necessary evil? Or just plain boring?
Then August 7, 2006 should be your wake-up call.
That’s when oil giant BP admitted a tiny quarter-inch hole was part of a widespread corrosion problem affecting 16 miles of a 22-mile pipeline from Prudhoe Bay.
As a result, BP was forced to shutdown up to 400,000 barrels a day of production from the largest oil field in the United States.
The costs are staggering. However, BP’s battles with corrosion in its 29-year-old Alaskan oil pipeline are a reflection of a much bigger concern for many big corporations. Aging assets and years of poor maintenance are now taking their toll on profits.
So that’s why we published this special report. Here are 10 important lessons you can learn from BP’s experience – surely one of the most expensive mistakes in recent history.
Gafisa reported its 2Q10 results, highlighting strong growth. Launches totaled R$1 billion, up 61% year-over-year. Pre-sales reached R$889 million, up 7% quarter-over-quarter. Adjusted EBITDA was R$184 million with a 19.8% margin, up 66% year-over-year. The company maintained its 2010 launch guidance of R$4-5 billion and EBITDA margin guidance of 18.5-20.5%.
- Estácio Participações reported strong financial results in 3Q12, with 43% EBITDA growth and a 3.0 percentage point increase in EBITDA margin. Earnings per share grew 26.6% compared to 3Q11.
- The company achieved a record number of new student enrollments in 3Q12, with over 74,000 new undergraduate students. The total student base grew 14.8% compared to 3Q11.
- Cash costs as a percentage of net operating revenue decreased 4.8 percentage points from 3Q11 to 3Q12, driven by efficiencies in personnel costs. Operational cash flow was R$61.9 million higher than in 3Q11.
This document provides information about the Anglican Church of St. Nicholas including contact details and upcoming events. It includes prayers for the week, notices about services and activities, and announcements about upcoming fundraisers and events including a harvest thanksgiving service, instructional eucharist, choir practice, and November bazaar.
The prayer update provides requests to pray for the Iwahashi family after a loss, Victor Nikolashin after a fall and hospitalization, and Elaine Matthews, Carrie Davis, Marguerite Lloyd and Chris Iwahashi who need continued prayers. It also announces a lunch with friends event and an upcoming UMW rummage sale.
Industrial Fact of the Week - US Leasing Activity over 500,000SFKatie Madanat
Leasing activity of large commercial spaces over 500,000 square feet in the U.S. peaked in 2007 at over 20 million square feet but declined during the market slowdown, reaching a low of 11.1 million square feet in 2010. The market began recovering in mid-2010 and leasing activity has increased since 2011, with the largest single lease being Home Depot's 1.6 million square foot build-to-suit deal in Chicago in 2011. So far this year, leasing activity for spaces over 500,000 square feet totals 15.5 million square feet across 20 deals predominantly in the manufacturing, retail, transportation, and wholesale industries
Cw industrial real estate forecast 2013 2016Katie Madanat
California.
The document provides an industrial real estate market forecast for the United States from 2013 to 2016. It discusses the economic outlook, noting uncertainty in the near term but expected stronger growth starting in 2014. It reviews improving industrial market fundamentals with declining vacancy rates. Demand is expected to remain strong for warehouse/distribution space, though new supply may constrain some markets. Rents are projected to grow steadily through 2016, led by coastal markets with constraints. Manufactured exports and reshoring initiatives are positives for manufacturing. Secondary industrial markets are gaining more distribution business through improved infrastructure and supply chain efficiencies.
This report summarizes industrial real estate market trends in North San Diego County during the 2nd quarter of 2012. Key points include:
- Total vacancy rates dropped below 10% for the first time since 2008, led by declines in Carlsbad and Oceanside. Positive absorption has already surpassed all of 2011.
- Leasing activity was strong, including Skin Medica expanding into an 81,000 SF space in Carlsbad. Investment and owner-user sales also rebounded after a slow first quarter.
- With low vacancy and no new construction, the report forecasts vacancy rates will continue declining in the second half of the year, putting upward pressure on lease rates and sale prices due to constrained supply
This industrial report provides an overview of the North San Diego County industrial market in the 4th quarter of 2011. Some key points:
- The market consists of 52.3 million square feet across five cities with an overall vacancy rate of 10.9% in Q4 2011.
- Net absorption for the year was 566,762 square feet, driven by large tenants expanding or relocating.
- The forecast predicts stable lease rates and a continued decline in vacancy rates in 2012 as demand improves and new construction remains limited.
- In Carlsbad specifically, the vacancy rate increased to 14.1% in 2011, though R&D fared better than industrial space. The largest lease of
Financial Analysis - American International Group, Inc. is an internationa…BCV
Financial Analysis - American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.pdf
The document summarizes office market trends in San Diego County for Q4 2012. It finds that office vacancy rates decreased across all classes compared to Q3 2012, with Class A space seeing the largest decrease. Net absorption was positive countywide in Q4, with Class A space accounting for over 200,000 square feet of positive absorption. Rental rates for Class A space continued an upward trend during 2012. Overall the report finds improving demand and conditions in the San Diego County office market.
The document provides an industrial market report for North County San Diego for Q3 2013. It finds that the total industrial inventory in the region is 52.2 million square feet, with a vacancy rate of 8.93%. Net absorption for the year-to-date is 675,486 square feet. The report also provides statistics on inventory, vacancy rates, absorption, and rents for the major submarkets of Carlsbad, Escondido, Oceanside, San Marcos, and Vista. Carlsbad has the highest vacancy rate at 11.85% while Escondido has the lowest at 5.36%.
The document provides an industrial market report for North County San Diego for Q3 2013. It finds that the total industrial inventory in the region is 52.2 million square feet, with a vacancy rate of 8.93%. Net absorption for the year-to-date is 675,486 square feet. The average asking rental rate is $0.75 per square foot per month and the average sale price is $105 per square foot. Carlsbad has the highest vacancy rate at 11.85% while Escondido has the lowest at 5.36%.
The ITW Annual Report 2003 document contains the following key information:
1) ITW operates over 600 decentralized business units across 44 countries focused on engineered products and specialty systems for diverse end markets.
2) In 2003, ITW achieved operating revenues of $10.035 billion, operating income of $1.633 billion, and income from continuing operations of $1.040 billion.
3) ITW pursues continual improvement and innovation through a disciplined 80/20 process, focusing on the most important customers and products to drive improved financial results.
Detour Gold is developing Canada's largest gold mine at its Detour Lake project in Ontario. Construction is progressing on schedule, with gold production expected to begin in early 2013. The mine will have average annual production of 657,000 ounces of gold over its estimated 21.5 year mine life. Detour Gold aims to capitalize on the large mineral reserves at Detour Lake and generate strong financial returns through low-cost gold production.
The North County industrial market report provides an overview of industrial real estate market conditions for 2013. Some key points:
- The total industrial inventory in North County was 52.2 million SF with an overall vacancy rate of 8.59%. Net absorption for the year was 821,481 SF.
- Among the five submarkets, Carlsbad had the highest vacancy rate at 11.37% while Escondido had the lowest at 4.87%. Rental rates increased across most product types over the year.
- Significant transactions included a 82,751 SF building in Carlsbad that sold for $96/SF and a 56,352 SF building in Escondido that Stone Brewery purchased for
Corporate Presentation - September 28, 2012DetourGold
The document discusses plans to build Canada's largest gold mine, with production expected to begin in early 2013. It provides an overview of Detour Gold Corporation, which is focused on developing the Detour Lake gold project in Ontario, Canada. The project is estimated to contain 15.6 million ounces of gold reserves and will average annual gold production of 657,000 ounces once operational.
The document discusses Detour Gold Corporation, a gold mining company in Canada that owns the Detour Lake mine, which is one of the largest gold deposits in North America. Detour Gold plans to become a mid-tier gold producer through developing Detour Lake, which has over 15 million ounces of gold reserves, and expanding production capacity over the next 5 years. The presentation provides information on Detour Gold's assets, operations, financial position, and investment opportunities for shareholders.
Detour Gold Corporation presents information on its Detour Lake gold mine in Canada. Detour Lake is described as Canada's largest pure gold play, with 15.6 million ounces of reserves and an average annual production of 657,000 ounces over a 21.5 year mine life. The presentation provides details on the mine plan, processing facilities, tailings management, and financial analysis, with commercial production expected to begin in Q1 2013.
The document discusses plans to build Canada's largest gold mine at the Detour Lake project in Ontario. Construction is progressing on schedule, with gold production expected to begin in Q1 2013. The mine is projected to produce an average of 657,000 ounces of gold annually over its estimated 21.5 year mine life. Capital costs to complete the project are estimated between $1.46-1.5 billion Canadian dollars.
Canaccord Global Resource Conference Corporate PresentationDetourGold
Detour Gold is building Canada's largest gold mine at its Detour Lake project in Ontario. Construction is progressing on schedule, with gold production projected to begin in Q1 2013. The mine will have average annual gold production of 657,000 ounces over its 21.5 year mine life. Detour Gold has updated its mineral reserves and resources, mine plan, and operating and capital cost estimates. Construction is advancing, with mining activities ramping up and commissioning of processing facilities beginning in Q4 2012.
Financial analysis - MBIA Inc. provides financial guarantee insurance and …BCV
MBIA Inc. provides financial guarantee insurance and investment management services. In 2013, the company reported $2.4 billion in revenue from its insurance, advisory services, and investment management business segments. However, it also reported losses from winding down legacy operations. Analyst ratings on the company are mixed, with some recommending a buy and others neutral or negative outlooks due to its debt levels and legacy risks.
- Estácio Participações reported strong financial results in 3Q12, with 43% EBITDA growth and a 3.0 percentage point increase in EBITDA margin. Earnings per share grew 26.6% compared to 3Q11.
- The company achieved a record number of new student enrollments in 3Q12, with over 74,000 new undergraduate students. The total student base grew 14.8% compared to 3Q11.
- Cash costs as a percentage of net operating revenue decreased 4.8 percentage points from 3Q11 to 3Q12, driven by efficiencies in personnel costs. Operational cash flow was R$61.9 million higher than in 3Q11.
This document provides information about the Anglican Church of St. Nicholas including contact details and upcoming events. It includes prayers for the week, notices about services and activities, and announcements about upcoming fundraisers and events including a harvest thanksgiving service, instructional eucharist, choir practice, and November bazaar.
The prayer update provides requests to pray for the Iwahashi family after a loss, Victor Nikolashin after a fall and hospitalization, and Elaine Matthews, Carrie Davis, Marguerite Lloyd and Chris Iwahashi who need continued prayers. It also announces a lunch with friends event and an upcoming UMW rummage sale.
Industrial Fact of the Week - US Leasing Activity over 500,000SFKatie Madanat
Leasing activity of large commercial spaces over 500,000 square feet in the U.S. peaked in 2007 at over 20 million square feet but declined during the market slowdown, reaching a low of 11.1 million square feet in 2010. The market began recovering in mid-2010 and leasing activity has increased since 2011, with the largest single lease being Home Depot's 1.6 million square foot build-to-suit deal in Chicago in 2011. So far this year, leasing activity for spaces over 500,000 square feet totals 15.5 million square feet across 20 deals predominantly in the manufacturing, retail, transportation, and wholesale industries
Cw industrial real estate forecast 2013 2016Katie Madanat
California.
The document provides an industrial real estate market forecast for the United States from 2013 to 2016. It discusses the economic outlook, noting uncertainty in the near term but expected stronger growth starting in 2014. It reviews improving industrial market fundamentals with declining vacancy rates. Demand is expected to remain strong for warehouse/distribution space, though new supply may constrain some markets. Rents are projected to grow steadily through 2016, led by coastal markets with constraints. Manufactured exports and reshoring initiatives are positives for manufacturing. Secondary industrial markets are gaining more distribution business through improved infrastructure and supply chain efficiencies.
This report summarizes industrial real estate market trends in North San Diego County during the 2nd quarter of 2012. Key points include:
- Total vacancy rates dropped below 10% for the first time since 2008, led by declines in Carlsbad and Oceanside. Positive absorption has already surpassed all of 2011.
- Leasing activity was strong, including Skin Medica expanding into an 81,000 SF space in Carlsbad. Investment and owner-user sales also rebounded after a slow first quarter.
- With low vacancy and no new construction, the report forecasts vacancy rates will continue declining in the second half of the year, putting upward pressure on lease rates and sale prices due to constrained supply
This industrial report provides an overview of the North San Diego County industrial market in the 4th quarter of 2011. Some key points:
- The market consists of 52.3 million square feet across five cities with an overall vacancy rate of 10.9% in Q4 2011.
- Net absorption for the year was 566,762 square feet, driven by large tenants expanding or relocating.
- The forecast predicts stable lease rates and a continued decline in vacancy rates in 2012 as demand improves and new construction remains limited.
- In Carlsbad specifically, the vacancy rate increased to 14.1% in 2011, though R&D fared better than industrial space. The largest lease of
Financial Analysis - American International Group, Inc. is an internationa…BCV
Financial Analysis - American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.pdf
The document summarizes office market trends in San Diego County for Q4 2012. It finds that office vacancy rates decreased across all classes compared to Q3 2012, with Class A space seeing the largest decrease. Net absorption was positive countywide in Q4, with Class A space accounting for over 200,000 square feet of positive absorption. Rental rates for Class A space continued an upward trend during 2012. Overall the report finds improving demand and conditions in the San Diego County office market.
The document provides an industrial market report for North County San Diego for Q3 2013. It finds that the total industrial inventory in the region is 52.2 million square feet, with a vacancy rate of 8.93%. Net absorption for the year-to-date is 675,486 square feet. The report also provides statistics on inventory, vacancy rates, absorption, and rents for the major submarkets of Carlsbad, Escondido, Oceanside, San Marcos, and Vista. Carlsbad has the highest vacancy rate at 11.85% while Escondido has the lowest at 5.36%.
The document provides an industrial market report for North County San Diego for Q3 2013. It finds that the total industrial inventory in the region is 52.2 million square feet, with a vacancy rate of 8.93%. Net absorption for the year-to-date is 675,486 square feet. The average asking rental rate is $0.75 per square foot per month and the average sale price is $105 per square foot. Carlsbad has the highest vacancy rate at 11.85% while Escondido has the lowest at 5.36%.
The ITW Annual Report 2003 document contains the following key information:
1) ITW operates over 600 decentralized business units across 44 countries focused on engineered products and specialty systems for diverse end markets.
2) In 2003, ITW achieved operating revenues of $10.035 billion, operating income of $1.633 billion, and income from continuing operations of $1.040 billion.
3) ITW pursues continual improvement and innovation through a disciplined 80/20 process, focusing on the most important customers and products to drive improved financial results.
Detour Gold is developing Canada's largest gold mine at its Detour Lake project in Ontario. Construction is progressing on schedule, with gold production expected to begin in early 2013. The mine will have average annual production of 657,000 ounces of gold over its estimated 21.5 year mine life. Detour Gold aims to capitalize on the large mineral reserves at Detour Lake and generate strong financial returns through low-cost gold production.
The North County industrial market report provides an overview of industrial real estate market conditions for 2013. Some key points:
- The total industrial inventory in North County was 52.2 million SF with an overall vacancy rate of 8.59%. Net absorption for the year was 821,481 SF.
- Among the five submarkets, Carlsbad had the highest vacancy rate at 11.37% while Escondido had the lowest at 4.87%. Rental rates increased across most product types over the year.
- Significant transactions included a 82,751 SF building in Carlsbad that sold for $96/SF and a 56,352 SF building in Escondido that Stone Brewery purchased for
Corporate Presentation - September 28, 2012DetourGold
The document discusses plans to build Canada's largest gold mine, with production expected to begin in early 2013. It provides an overview of Detour Gold Corporation, which is focused on developing the Detour Lake gold project in Ontario, Canada. The project is estimated to contain 15.6 million ounces of gold reserves and will average annual gold production of 657,000 ounces once operational.
The document discusses Detour Gold Corporation, a gold mining company in Canada that owns the Detour Lake mine, which is one of the largest gold deposits in North America. Detour Gold plans to become a mid-tier gold producer through developing Detour Lake, which has over 15 million ounces of gold reserves, and expanding production capacity over the next 5 years. The presentation provides information on Detour Gold's assets, operations, financial position, and investment opportunities for shareholders.
Detour Gold Corporation presents information on its Detour Lake gold mine in Canada. Detour Lake is described as Canada's largest pure gold play, with 15.6 million ounces of reserves and an average annual production of 657,000 ounces over a 21.5 year mine life. The presentation provides details on the mine plan, processing facilities, tailings management, and financial analysis, with commercial production expected to begin in Q1 2013.
The document discusses plans to build Canada's largest gold mine at the Detour Lake project in Ontario. Construction is progressing on schedule, with gold production expected to begin in Q1 2013. The mine is projected to produce an average of 657,000 ounces of gold annually over its estimated 21.5 year mine life. Capital costs to complete the project are estimated between $1.46-1.5 billion Canadian dollars.
Canaccord Global Resource Conference Corporate PresentationDetourGold
Detour Gold is building Canada's largest gold mine at its Detour Lake project in Ontario. Construction is progressing on schedule, with gold production projected to begin in Q1 2013. The mine will have average annual gold production of 657,000 ounces over its 21.5 year mine life. Detour Gold has updated its mineral reserves and resources, mine plan, and operating and capital cost estimates. Construction is advancing, with mining activities ramping up and commissioning of processing facilities beginning in Q4 2012.
Financial analysis - MBIA Inc. provides financial guarantee insurance and …BCV
MBIA Inc. provides financial guarantee insurance and investment management services. In 2013, the company reported $2.4 billion in revenue from its insurance, advisory services, and investment management business segments. However, it also reported losses from winding down legacy operations. Analyst ratings on the company are mixed, with some recommending a buy and others neutral or negative outlooks due to its debt levels and legacy risks.
Detour Gold is constructing Canada's largest gold mine at the Detour Lake project in Ontario. The mine is scheduled to begin production in early 2013 and will be the largest pure gold play in Canada with 15.6 million ounces of reserves. Construction is progressing on schedule, with 97% completed as of November 2012. The mine is expected to produce an average of 657,000 ounces of gold annually over its 21.5 year mine life. Detour Gold aims to be one of the best cash flow per share opportunities in the gold mining industry.
The document provides Embraer's 2013 outlook and perspectives. It summarizes 2012 delivery and backlog numbers. For 2013, Embraer expects net revenues between $5.9-6.4 billion and EBIT between $530-610 million. It expects modest global economic growth and continued airline industry profitability. Embraer will focus on developing new E-Jets and executive jet models while expanding its defense business. Investments in research, development and capital expenditures are budgeted at $580 million total for 2013.
Detour Gold Corporation plans to build Canada's largest gold mine at its Detour Lake property in Ontario. Construction is 87% complete and gold production is scheduled to begin in early 2013. The mine is expected to produce an average of 657,000 ounces of gold annually over its mine life. Detour Gold has over 15 million ounces of gold reserves and the project presents an opportunity for significant cash flow and organic growth through expansion.
21st Annual BMO Capital Markets Global Metals & Mining ConferenceDetourGold
This presentation discusses Detour Gold Corporation's plans to build Canada's largest gold mine at the Detour Lake project in Ontario. Construction is 52% complete and on schedule for first gold production in early 2013. The presentation provides details on Detour Gold's mineral reserve estimates, capital costs, production plans, and organic growth opportunities. It also reviews Detour Gold's strong share performance and capital structure as the company prepares to become a senior gold producer.
Detour Gold Corporation's corporate presentation outlines its Detour Lake gold mine project in Canada. The project will make Detour Gold the largest pure gold play and Canada's next intermediate gold producer, with average annual production of 657,000 ounces over a 21.5 year mine life from proven and probable reserves of 15.6 million ounces. Processing at the 55,000 tonne per day open pit mine is scheduled to begin in early 2013.
1. Industrial Report
North San Diego County
1st Quarter 2012
PREPARED BY: COLLIERS INTERNATIONAL
Adam Molnar 5901 Priestly Drive, Suite 100
Greg Lewis Carlsbad, CA 92008
Tucker Hohenstein Fax 760 438 8925
Mike Erwin www.colliers.com/carlsbad
2. Q1 2012 | INDUSTRIAL
NORTH COUNTY
AT A GLANCE
OVERVIEW
The North San Diego County industrial market is largely decentralized and comprised of
five cities including Carlsbad, Escondido, Oceanside, San Marcos and Vista. Situated 35
miles north of downtown San Diego and 52 miles south of John Wayne Airport in Orange
Oceanside County, the coastal location is a major factor in the area’s appeal to corporate users and
Vista
its 826,985 residents.
Carlsbad
San Escondido The industrial market consists of approximately 52.3 million square feet. By comparison,
Marcos
Ocean the total San Diego industrial market is 188.3 million square feet. North County represents
27% of the total. For Q1 2012 North County vacancy was 10.6%. The vacancy rate
is decreasing as 172,000 SF of positive net absorption occurred. The following table
MARKET INDICATORS summarizes the inventory and vacancy by submarket:
Q1 Q2
2012 2012 (forecast)
Submarket Buildings Total Inventory Vacant SF Vacancy Rate
VACANCY Carlsbad 485 15,025,194 2,165,696 14.4%
Escondido 637 7,183,097 445,352 6.5%
NET ABSORPTION
Oceanside 396 8,038,265 1,246,094 15.5%
CONSTRUCTION San Marcos 489 8,710,664 604,631 6.9%
RENTAL RATE Vista 530 13,374,822 1,081,203 8.1%
Total 2,537 52,333,280 5,566,778 10.6%
LEASE CONCESSIONS
North San Diego County is well known for its highly skilled labor force, excellent
transportation network, pro-growth business environment, significant Federal
Government presence, desirable vacation destination including world class beaches,
resorts, golf venues, and abundant employee housing.
INDUSTRIAL/R&D VACANCY RATES
Q1 2012
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKETDiego County
The North San TRENDS industrial market is home to a diversified mix of users
VISTA HISTORICAL MARKET TRENDS
Q1 2012
including defense, telecommunications, software, medical manufacturing, golf and leisure
Carlsbad 14.4%
Escondido 6.5%
Coca-Cola Isis Pharmaceuticals DJO, Inc.
Medtronic Life Technologies Linear
Oceanside 15.5%
Titleist Golf Cobra / Puma Golf Killion Industries
San Marcos 6.9% ViaSat TaylorMade Golf Jeld-Wen Windows and Doors
Vista 8.1% Covidien Denso Wireless Sumitomo Electric
North County 10.6% Abbott Labs US Foods McCain, Inc.
Genentech Philips Respironics Directed Electronics
0% 5% 10% 15% 20%
Callaway Golf Thomson Reuters GIA
L-3 Communications Rockwell Collins Hunter Industries
SAIC John Deere Watkins Manufacturing
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
www.colliers.com/carlsbad
3. AT A GLANCE | Q1 2012 | INDUSTRIAL | NORTH COUNTY
ACTIVITY
Land appears to have reversed its downward NORTH COUNTY HISTORICAL MARKET TRENDS
slide with the sale of 28 acres in Ocean
Ranch, Oceanside to US Foods for $11.50/ 1,500 14%
SF. To help put this price improvement in 12%
1,000
perspective, a year earlier the same property 10%
was purchased as a short-sale by a local
Vacancy Rate
SF (000s)
500
8%
investor/developer for $7.23/SF. Supply of
industrial land, particularly large contiguous 0
6%
sites in North County, is limited. It will not take 4%
much in the way of demand to see further -500
2%
increases in land prices.
-1,000 0%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
The sale of several distressed properties Q1
during Q1 pulled the median sale price down
Net Absorption New Supply Vacancy
to $76.50/SF. As distressed real estate is
cleared from the market look for sale prices
to gradually increase and good quality product to command a sizable premium over the Q1 median price. Many
“would be” sellers have chosen to lease rather than compete with distressed opportunities. This has resulted in
the supply of properties available for lease out numbering those for sale by a ratio of 6 to 1 in the 25,000-50,000
square foot range.
It was a positive sign to see investors, owner-occupiers and tenants active during Q1. Investors purchased
two vacant buildings located in Vista. Pacifica Enterprises bought 65,000 square feet 1081 Poinsettia for $58/
SF, while SR Commercial purchased 39,000 square feet at 2390 Oak Ridge for $69.57/SF. Owner occupiers
purchased four buildings for a total of 113,449 square feet with prices ranging between $65.78/SF and $127.90/
SF. Significant tenant transactions included; La Cantina Doors leasing 67,000 square feet in Oceanside, PODS
renewing their lease of 64,000 square feet in Carlsbad, Astro Converters renewing their lease of 25,000 square
feet in San Marcos and Balboa Cal Inc. occupying 23,000 square feet in Vista.
FORECAST
There are several transactions underway at the end of Q1 that will likely help boost activity when they are
completed during Q2. Look for investors and tenants to lead the way, while owner-occupiers find it difficult to
locate good quality properties or are reluctant to fill the price gap that has been created by recent distressed
sales. Lease rates will move sideways in the near term, but should begin to increase later in the year as vacancy
continues its slow decline. The current supply of spaces between 25,000-50,000 square feet for lease will force
landlords to complete aggressively for these tenants.
New speculative construction while being analyzed is still at least 24 months away. Filling the gap will be an
occasional build-to-suit if companies are unable to find a desirable existing alternative.
This document has been prepared by Colliers International for advertising and general information only. Colliers
prepared by ADAM MOLNAR, GREG LEWIS International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding
the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party
TUCKER HOHENSTEIN & MIKE ERWIN, 760 438 8950 should undertake their own inquiries as to the accuracy of the information. Colliers International excludes
unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes
all liability for loss and damages arising there from.
4. Q1 2012 | INDUSTRIAL
CARLSBAD
AT A GLANCE
OVERVIEW
This year is off to a slow start in Carlsbad with a meager 14,650 square feet of positive
absorption in 1Q 2012. The overall vacancy rate for Industrial/R&D product sits at 14.41%
with industrial product continuing to outperform R&D (12.51% and 16.17% respectively).
Oceanside There is no new construction underway or in the planned stage.
Vista
ACTIVITY
San The limited activity in the leasing market was mostly concentrated in the 10,000 to
Carlsbad Marcos 20,000 square foot segment with companies like Scratch Media and Iris International
Ocean
committing to space in Carlsbad. Renewals remain prevalent as current Landlords tend
to have a leg up on the competition due to prohibitive moving and Tenant Improvements
costs associated with a new location. Examples of this during 1Q 2012 are PODS who
MARKET INDICATORS
renewed in 64,541 SF and Luxtera who downsized and renewed in 32,510 SF. There
Q1 Q2 were no significant sales transactions in 1Q 2012 in Carlsbad.
2012 2012 (forecast)
VACANCY
FORECAST
Investment sales appear to be on the rebound in Carlsbad with multiple large Industrial/
NET ABSORPTION R&D projects expected to trade hands in 2Q 2012. The remaining shortage of large
blocks of contiguous, functional space above 75,000 SF suggests that companies with
CONSTRUCTION
forward thinking and the desire to consolidate operations will continue to explore Build
RENTAL RATE to Suit options. Overall activity and demand in the market appear to be up and supply is
expected to diminish, meaning that Landlords should benefit from a slight uptick in rental
LEASE CONCESSIONS rates with no new product in the pipeline.
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKET TRENDS VISTA HISTORICAL MARKE
Q1 2012
700 16%
INDUSTRIAL/R&D VACANCY RATES 600 14%
Q1 2012
INDUSTRIAL/R&D VACANCY RATES CARLSBAD 500
HISTORICAL MARKET TRENDS 12%
VISTA HISTORICAL MARKET TRENDS
Q1 2012
400 10%
Vacancy Rate
SF (000s)
Carlsbad
Carlsbad 14.4%
300 8%
Escondido 6.5% 200 6%
Oceanside 15.5% 100 4%
San Marcos 6.9% 0 2%
Vista 8.1% -100 0%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
North County 10.6% Q1
0% 5% 10% 15% 20% Net Absorption New Supply Vacancy
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
www.colliers.com/carlsbad
5. El C
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AT A GLANCE | Q1 2012 | INDUSTRIAL | CARLSBAD Ave
Rea more
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Carlsbad
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Busines s P
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TRANSACTION ACTIVITY - Q1 2012
mi
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la
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La Costa Resort
& Spa
# PROPERTY Av
NAME/ADDRESS
iar BUYER TYPE SIZE (SF) SALE PRICE PRICE/SF
aP
kw
There were
Park Hyatt y
no building sales larger than 15,000 SF during Q1
Aviara Resort
LEASING ACTIVITY
# PROPERTY NAME/ADDRESS TENANT NAME SIZE (SF) TERM EFF RATE/SF
1 3254 GreyHawk Court Scratch Media 12,835 48 months $0.91 MG
2 1891 Rutherford Road Iris International 20,000 84 months $1.53 NNN
3 2320 Camino Vida Roble Luxtera, Inc. (renewal) 32,510 43 months $0.98 NNN
4 2858 Loker Avenue PODS 64,541 84 months $0.70 NNN
This document has been prepared by Colliers International for advertising and general information only. Colliers
prepared by ADAM MOLNAR, GREG LEWIS International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding
the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party
TUCKER HOHENSTEIN & MIKE ERWIN, 760 438 8950 should undertake their own inquiries as to the accuracy of the information. Colliers International excludes
unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes
all liability for loss and damages arising there from.
6. Q1 2012 | INDUSTRIAL
ESCONDIDO
AT A GLANCE
OVERVIEW
The Escondido Industrial Market had minimal activity during the 1Q 2012, but continues to
have the lowest vacancy rate of any city in North San Diego County at 6.5%. There is no
new speculative industrial building or flex construction underway at this time. We most
Oceanside
Vista
likely will see Hamann Construction break ground on Cor-O-Van’s ~100,000 sf build-to-
suit in 2Q 2012. The new Palomar Medical Center under construction on a 56 acre site
in the Escondido Research and Technology Center continues to take shape with a target
San Escondido
Carlsbad Marcos opening of 3Q 2012.
Ocean
ACTIVITY
There were no significant sale or lease transactions in Escondido during 1Q 2012, but
MARKET INDICATORS there was good lease activity in the multi-tenant parks with 24 lease transactions ranging
Q1 Q2
between 1,000 - 5,000 square feet. Lease rates remained steady for 1Q 2012; sales
2012 2012 (forecast) activity was minimal with only three transactions, all below $500,000.
VACANCY FORECAST
NET ABSORPTION
The road ahead is bright for Escondido. With a healthy vacancy rate, there will be upward
pressure on rental rates and sale prices in 2012. The economy is showing signs of
CONSTRUCTION recovery with an increase in employment which will drive demand for industrial space.
One of our clients is tentatively planning on breaking ground on a new speculative, for
RENTAL RATE
lease industrial project in Escondido which is something we have not seen for several
LEASE CONCESSIONS years.
ESCONDIDO HISTORICAL MARKET TRENDS
S NORTH COUNTY NET ABSOR
INDUSTRIAL/R&D VACANCY RATES
Q1 2012
300 10%
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKET TRENDS VISTA HISTORICAL MARKET TRENDS
Q1 2012 9%
200
Carlsbad 8%
14.4% 5-Yr. Avg. = 91,36
100 7%
Escondido
Escondido 6.5%
Vacancy Rate
SF (000s)
6%
0
Oceanside 15.5% 5%
-100
4%
San Marcos 6.9%
-200 3%
Vista 8.1% 2%
-300
1%
North County 10.6%
-400 0%
0% 5% 10% 15% 20% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Q1
Net Absorption New Supply Vacancy
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
NORTH COUNTY HISTORICAL MARKET TRENDS
www.colliers.com/carlsbad
7. AT A GLANCE | Q1 2012 | INDUSTRIAL | ESCONDIDO
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TRANSACTION ACTIVITY - Q1 2012
SALES ACTIVITY
# PROPERTY NAME/ADDRESS BUYER TYPE SIZE (SF) SALE PRICE PRICE/SF
No building sales above 10,000 square feet
LEASING ACTIVITY
# PROPERTY NAME/ADDRESS TENANT NAME SIZE (SF) TERM EFF RATE/SF
1 302 Enterprise, Suite A Nexsan 13,772 19 months $0.63 Gross
This document has been prepared by Colliers International for advertising and general information only. Colliers
prepared by ADAM MOLNAR, GREG LEWIS International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding
the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party
TUCKER HOHENSTEIN & MIKE ERWIN, 760 438 8950 should undertake their own inquiries as to the accuracy of the information. Colliers International excludes
unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes
all liability for loss and damages arising there from.
8. Q1 2012 | INDUSTRIAL
OCEANSIDE
AT A GLANCE
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKET TRENDS VISTA
Q1 2012
OVERVIEW
While Oceanside still maintains the highest vacancy rate in North County at 15.46% the
115,069 SF of positive net absorption during Q1 2012 was the best quarterly performance
since Q2 2008. This extremely positive indicator signals the long anticipated recovery is
Oceanside underway.
Vista
With just under 1.2m SF of vacant industrial space available there are numerous newer
San and older properties of all sizes available to choose from including multi-tenant, free-
Carlsbad Marcos standing and larger manufacturing and warehouse distribution facilities.
Ocean
ACTIVITY
Industrial sale transactions OCEANSIDE HISTORICAL MARKET TRENDS
S SAN M
MARKET INDICATORS
were highlighted by the 28 800 20%
Q1
2012
Q2
2012 (forecast)
acre user purchase by US 18%
600
Foods in the Ocean Ranch 16%
VACANCY
business park which closed in 400
14%
Vacancy Rate
SF (000s)
12%
March for $11.50 SF. Long term 200 10%
NET ABSORPTION plans include the construction 8%
0
of 400,000 – 500,000 SF of 6%
CONSTRUCTION 4%
food storage and distribution -200
2%
RENTAL RATE facilities replacing multiple -400 0%
lease properties in Vista as 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Q1
LEASE CONCESSIONS leases term out.
Net Absorption New Supply Vacancy
Industrial building sales
included the Gilead Sciences purchase of 35,856 SF at 4039 Avenida de la Plata. Gilead
owns the property next door and this expansion includes plans for a major renovation
of the property and a substantial capital improvement investment expanding their life
INDUSTRIAL/R&D VACANCY RATES sciences business in the Oceanside area.
Q1 2012
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKET TRENDS VISTA HISTORICAL MARKET TRENDS
Q1 2012 Lease transaction activity was strong this quarter and included a 66,780 SF lease in La
Carlsbad 14.4% Pacifica in Ocean Ranch with La Cantina Doors, a tenant that expanded and relocated
Escondido 6.5%
from the Vista market. Four other leases between 12,000 and 18,000 were completed
showing momentum in medium size tenant activity which is a very positive factor.
Oceanside
Oceanside 15.5%
San Marcos 6.9% FORECAST
Vista 8.1%
Oceanside will continue to see positive net absorption this coming quarter and for the
remainder of the year. All economic indicators are trending positive and commercial
North County 10.6% real estate offices are all reporting the best activity in years. Overall, deals are still taking
0% 5% 10% 15% 20% a long time to process, landlords are making concessions to keep existing tenants and
lower building sale prices and attractive interest rates are making user purchases very
affordable.
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
www.colliers.com/carlsbad
9. AT A GLANCE | Q4 2011 | INDUSTRIAL | OCEANSIDE
Co
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Blv
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Ocean Ranch
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Avenida De La Plata
El Corazon
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Ce
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Oceanside Blvd
Sprinter Light
Rail Line
TRANSACTION ACTIVITY - Q1 2012
SALES ACTIVITY
# PROPERTY NAME/ADDRESS BUYER TYPE SIZE (SF) SALE PRICE PRICE/SF
1 4039 Avenida de la Plata Gilead Services / User 35,856 $4,586,000 $127.90
2 Ocean Ranch Lots 27 & 28 U.S. Foods 27.96 Acres $14,000,000 $11.50
LEASING ACTIVITY
# PROPERTY NAME/ADDRESS TENANT NAME SIZE (SF) TERM EFF RATE/SF
3 2817 Ocean Ranch Boulevard La Cantina Doors 66,780 60 months $0.55/NNN
4 398 Via El Centro Windigo International 12,000 36 months $0.50/G
5 3801 Ocean Ranch Blvd Star Metal Plating 12,450 60 months $0.49/NNN
6 2612 Temple Heights Dr Apical Industries 18,160 60 months $0.55/G
7 1353 Rocky Point Dr Dixon Scientific 18,911 38 months $0.64/G
This document has been prepared by Colliers International for advertising and general information only. Colliers
prepared by ADAM MOLNAR, GREG LEWIS International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding
the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party
TUCKER HOHENSTEIN & MIKE ERWIN, 760 438 8950 should undertake their own inquiries as to the accuracy of the information. Colliers International excludes
unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes
all liability for loss and damages arising there from.
10. Q1 2012 | INDUSTRIAL
SAN MARCOS
AT A GLANCE
OVERVIEW
The San Marcos industrial market positive absorption was 36,664 square feet and the
quarter ended with a vacancy rate of 6.9%. This is the second best in North County
following only Escondido at 6.5%. The positive absorption was on par with some of the best
Oceanside quarters in the last three years and now San Marcos has posted three consecutive quarters
Vista
of net absorption which it hasn’t done since the recession started.
San Escondido
Carlsbad Marcos ACTIVITY
Ocean
Industrial building sale activity was light with just one sale closing in the quarter. Metro
Western Sign & Awnings purchased a 24,128 square foot distressed property with an
outside yard area at 261 South Pacific Street from the Small Business Administration.
MARKET INDICATORS
Q1
AD HISTORICAL MARKET TRENDS Q2 LeasingHISTORICAL MARKET TRENDS between 13,000 and 25,000 square feet the largest
VISTA
activity consisted of 3 leases
2012 2012 (forecast) of which was a renewal. Leasing velocity is up with several transactions in the market that
should close in the next 30-60 days.
VACANCY
NET ABSORPTION
FORECAST
CONSTRUCTION We expect to see a continued reduction in supply in the market as space is taken down and
no new product is added to the market. Activity in all product types including multi-tenant,
RENTAL RATE manufacturing and warehouse distribution is up significantly. As the economy continues
LEASE CONCESSIONS
to improve the nascent recovery should benefit owners of industrial property in this core
market .
INDUSTRIAL/R&D VACANCY RATES
DE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
Q1 2012
INDUSTRIAL/R&D VACANCY RATES CARLSBAD HISTORICAL MARKET TRENDS
300 VISTA HISTORICAL MARKET TRENDS
9%
Q1 2012
8%
Carlsbad 14.4% 200
7%
Escondido 6.5% 100 6%
Vacancy Rate
SF (000s)
5%
Oceanside 15.5% 0
4%
San Marcos
San Marcos 6.9% -100 3%
Vista 8.1% 2%
-200
1%
North County 10.6%
-300 0%
0% 5% 10% 15% 20% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Q1
Net Absorption New Supply Vacancy
OCEANSIDE HISTORICAL MARKET TRENDS SAN MARCOS HISTORICAL MARKET TRENDS
www.colliers.com/carlsbad