The document summarizes office market conditions in North America in Q3 2011. It reports that:
- U.S. office markets saw modest growth with slightly higher demand and a small drop in vacancy rates. However, the anticipated recovery remained limited as businesses were reluctant to take on more space due to economic uncertainty.
- Canadian markets fared better than the U.S. due to a slightly stronger economy and job market.
- Going forward, both the U.S. and Canadian economies are expected to remain sluggish with little prospect of increased demand for office space given global economic challenges. The U.S. should avoid recession but growth will likely be modest around 1-2% annually.
Colliers north american office highlights 3 q 2010Coy Davidson
Two quarters of positive absorption shows the U.S. office market is now stabilizing after a two year period of persistent weakness. While the economy continues to struggle, vacancy rates declined slightly in Q3 and leasing activity improved modestly. This suggests the office market recovery will be a long, slow process rather than a sudden surge. Rent increases are unlikely in the near future but occupiers should consider locking in current rates before availability declines give landlords leverage.
North American Industrial Highlights 3Q 2010Coy Davidson
The US industrial market absorbed 3.6 million square feet of space in Q3 2010, in addition to 13.3 million square feet absorbed in Q2 2010. Vacancy rates remained largely unchanged at 11.01% in Q3. While fundamentals have improved, average asking rents fell slightly by 0.8% to $4.74 per square foot. Looking ahead, modest economic growth is expected to result in tepid demand for warehouse space, though continued import growth and expansion in manufacturing should provide support. With little new construction, any increase in demand will quickly tighten vacancy rates.
North American Industrial Highlights 1Q 201111Coy Davidson
The U.S. industrial market started 2011 positively with solid demand for warehouse space driving vacancy rates lower across most regions. Vacancies dropped further in the first quarter while rental rates remained stable. Strong manufacturing activity and exports are supporting industrial demand, which is expected to increase further through the year as economic growth continues. With limited new construction, vacancy rates are forecast to fall substantially in the coming quarters across the U.S. industrial market.
The feasibility study recommends building a new 887,000 square foot convention center in Memphis with 250,000 square feet of exhibit space and an adjacent 1,000-room hotel. This is because the current convention center site is difficult to expand and Memphis lacks sufficient connected hotel rooms to attract large conventions. A new, larger facility could help Memphis compete for business against other growing cities by providing amenities expected by meeting planners such as large contiguous exhibit and meeting space along with on-site hotel rooms.
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This shift has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office demand and absorption. The recovery in the overall office market remains slow as uncertainties in the economy are keeping businesses cautious about expanding and leasing offices. While the national vacancy rate improved slightly, rental rates only increased marginally and a more robust recovery is still needed.
Global Office Highlights - Mid-Year 2011Jeff Tolrud
The document provides a global outlook for office markets in the second half of 2011 and forecasts for 2012. Key points include:
- Vacancy rates are expected to continue declining modestly in most major markets due to steady demand and low new construction.
- The European sovereign debt crisis may push the Eurozone into a mild recession in early 2012, negatively impacting some commercial property markets.
- Latin American cities like Santiago and Sao Paulo have very tight office markets below 3% vacancy due to strong demand.
- Select Asia Pacific markets saw significant vacancy rate declines in the second half of 2011 like Chengdu and Shanghai.
- Major markets in Europe, the Middle East, and Asia Pacific are
Colliers North American Industrial Highlights Q1 2013Coy Davidson
The industrial real estate market has seen strong performance for the past eight quarters, with declining vacancy rates and absorption outpacing new construction. However, the document warns of potential "blind spots" that could endanger the market's strong run. Low interest rates and high investor demand have compressed cap rates and driven up prices. While fundamentals remain sound, overheated conditions and a potential economic slowdown pose risks if not properly considered. The market will need robust job and GDP growth to sustain its gains into the future.
The Atlanta office market saw a slight decrease in vacancy rate from 19.8% to 19.6% in the third quarter of 2011. Net absorption was 309,022 SF with one new building delivering 4,000 SF. Quoted rental rates decreased from $19.19 to $19.08 per square foot. There is currently 765,077 SF of office space under construction, an increase from last year.
Colliers north american office highlights 3 q 2010Coy Davidson
Two quarters of positive absorption shows the U.S. office market is now stabilizing after a two year period of persistent weakness. While the economy continues to struggle, vacancy rates declined slightly in Q3 and leasing activity improved modestly. This suggests the office market recovery will be a long, slow process rather than a sudden surge. Rent increases are unlikely in the near future but occupiers should consider locking in current rates before availability declines give landlords leverage.
North American Industrial Highlights 3Q 2010Coy Davidson
The US industrial market absorbed 3.6 million square feet of space in Q3 2010, in addition to 13.3 million square feet absorbed in Q2 2010. Vacancy rates remained largely unchanged at 11.01% in Q3. While fundamentals have improved, average asking rents fell slightly by 0.8% to $4.74 per square foot. Looking ahead, modest economic growth is expected to result in tepid demand for warehouse space, though continued import growth and expansion in manufacturing should provide support. With little new construction, any increase in demand will quickly tighten vacancy rates.
North American Industrial Highlights 1Q 201111Coy Davidson
The U.S. industrial market started 2011 positively with solid demand for warehouse space driving vacancy rates lower across most regions. Vacancies dropped further in the first quarter while rental rates remained stable. Strong manufacturing activity and exports are supporting industrial demand, which is expected to increase further through the year as economic growth continues. With limited new construction, vacancy rates are forecast to fall substantially in the coming quarters across the U.S. industrial market.
The feasibility study recommends building a new 887,000 square foot convention center in Memphis with 250,000 square feet of exhibit space and an adjacent 1,000-room hotel. This is because the current convention center site is difficult to expand and Memphis lacks sufficient connected hotel rooms to attract large conventions. A new, larger facility could help Memphis compete for business against other growing cities by providing amenities expected by meeting planners such as large contiguous exhibit and meeting space along with on-site hotel rooms.
The office market demand is shifting away from FIRE (Finance, Insurance, and Real Estate) industries toward ICEE (Intellectual Capital, Energy, and Education) industries. This shift has benefited cities with strong ICEE industry concentrations like Houston, Calgary, Toronto, Seattle, Baltimore, Washington DC, Raleigh, Austin, and Denver which have seen increased office demand and absorption. The recovery in the overall office market remains slow as uncertainties in the economy are keeping businesses cautious about expanding and leasing offices. While the national vacancy rate improved slightly, rental rates only increased marginally and a more robust recovery is still needed.
Global Office Highlights - Mid-Year 2011Jeff Tolrud
The document provides a global outlook for office markets in the second half of 2011 and forecasts for 2012. Key points include:
- Vacancy rates are expected to continue declining modestly in most major markets due to steady demand and low new construction.
- The European sovereign debt crisis may push the Eurozone into a mild recession in early 2012, negatively impacting some commercial property markets.
- Latin American cities like Santiago and Sao Paulo have very tight office markets below 3% vacancy due to strong demand.
- Select Asia Pacific markets saw significant vacancy rate declines in the second half of 2011 like Chengdu and Shanghai.
- Major markets in Europe, the Middle East, and Asia Pacific are
Colliers North American Industrial Highlights Q1 2013Coy Davidson
The industrial real estate market has seen strong performance for the past eight quarters, with declining vacancy rates and absorption outpacing new construction. However, the document warns of potential "blind spots" that could endanger the market's strong run. Low interest rates and high investor demand have compressed cap rates and driven up prices. While fundamentals remain sound, overheated conditions and a potential economic slowdown pose risks if not properly considered. The market will need robust job and GDP growth to sustain its gains into the future.
The Atlanta office market saw a slight decrease in vacancy rate from 19.8% to 19.6% in the third quarter of 2011. Net absorption was 309,022 SF with one new building delivering 4,000 SF. Quoted rental rates decreased from $19.19 to $19.08 per square foot. There is currently 765,077 SF of office space under construction, an increase from last year.
This document provides an overview of the California and U.S. economic and real estate markets. It summarizes that the U.S. employment and housing markets have improved in recent years but headwinds to growth remain. The California apartment market is nearing pre-recession metrics with new supply becoming a concern in major metro areas like Los Angeles and San Francisco. Rents have risen substantially in California markets like San Francisco and San Jose since 2001, outpacing national averages, while affordability gaps between rents and mortgage payments on median priced homes have widened significantly.
- The document provides an economic overview of Austin, Texas presented by Brian Kelsey of Civic Analytics LLC.
- It shows that Austin's economic growth has outpaced most major metros since 2009, with GDP and job growth about 3 times the national rate.
- Austin has a booming tech sector and is among the fastest growing tech markets, though it still faces challenges finding enough qualified workers to fill openings.
- The presentation examines indicators of Austin's strong economy as well as issues of inclusive economic development and workforce demand.
Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Comme...Coldwell Banker Commercial
The document summarizes a study that ranked over 80 commercial real estate markets across the United States based on 5 factors: office, retail, and multi-family vacancy rates and rental rates from Q3 2013 to Q3 2014 as well as population and unemployment changes over the same period. Denver, CO was ranked as the top market based on having the highest cumulative score across all factors. The top 10 markets also included San Francisco, Houston, Dallas, San Jose, Phoenix, San Antonio, Las Vegas, Austin, and Orange County.
The document summarizes data from RealtyTrac on the 25 most profitable housing markets in the US for house flipping in 2012. It provides the metro area, number of single family home flips, percentage change from the previous year, average purchase price, average flipped sale price, gross profit per flip, and percentage gross profit change. Markets like Orlando, Las Vegas, and Phoenix topped the list with gross profits per flip of $64,976, $70,747, and $63,762 respectively.
This document provides a market summary of office, R&D, and industrial space for the North Peninsula area for the first quarter of 2013. It includes data on inventory, vacancy rates, net absorption, and average rental rates. Some notable lease and sale transactions are highlighted. Historical statistics on inventory, vacancy, absorption, and rental rates going back to 2008 are also presented.
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
This document is an index published by the American Institute for Economic Research (AIER) that ranks 75 metropolitan areas and college towns in the United States based on criteria impacting the student experience. The index measures 12 criteria across four categories: economic health, student life, culture, and opportunity. It provides rankings for major metro areas, mid-size metro areas, small metro areas, and college towns. For each location, it lists data for the 12 criteria, including measures like student concentration, cost of housing, unemployment rate, and median earnings.
The document provides an overview of the office, R&D, and industrial real estate markets in the North Peninsula area for the second quarter of 2013. It includes data on inventory, availability rates, net absorption, and average rental rates. Several significant lease and sale transactions are also highlighted. Historical statistics on inventory, availability, absorption, and rental rates going back to 2008 are presented in tables.
JLL Detroit Office Insight & Statistics - Q3 2019Harrison West
As we look ahead to the end of 2019, we can expect the stable conditions in the Detroit office market to remain. Downtown’s Class A vacancy remains extremely tight outside of the Renaissance Center and will likely stay that way until new inventory is added to the market.
Southern California Industrial & Logistics OverviewRon Mgrublian
Nice overview of the Southern California Industrial Market as it relates to Infrastructure and Logistics. Also a nice Availability Forecast and Analysis of Trends in the Marketplace. Feel free to contact me to discuss further.
JLL Downtown Chicago Office Market Update - Q3 2016Hailey Harrington
Chicago's shifting supply and demand. River North Inventory increases 4.2 million square feet of new product as tech tenant demand driving conversions to office due to limited supply.
The document provides an overview of capital market trends in the United States for the second quarter of 2016. Some key points from the report include: International capital continues to invest heavily in the US market due to higher cap rates compared to bond yields globally; Top regional buyers are led by Blackstone, which invested over $10 billion across various markets; Office pricing is strongest in major coastal cities like New York, San Francisco and Boston, with eight markets averaging over $400 per square foot; Population growth and investment activity are highest in "18-hour cities" driven by technology like Austin, Denver, Nashville and Seattle.
Metro Atlanta Real Estate Market Trends December 2017Arthur Prescott
Metro Atlanta Real Estate Market Trends December 2017. Provided by Arthur Prescott and Berkshire Hathaway HomeServices Georgia Properties.
www.LakeSidneyLanierHomes.com
The St. Louis office market summary document reports:
1) Job growth in St. Louis has accelerated and is now on par with national growth rates, with financial activities and professional services posting annual gains.
2) Vacancy rates have fallen below 14% for the first time since 2008 due to several large lease expansions. Class A suburban vacancy has hit single digits.
3) Large blocks of Class A office space remain scarce due to limited new construction supply, restricting options for tenants seeking over 50,000 square feet.
Metro Atlanta Real Estate Market Trends September 2013Arthur Prescott
Atlanta real estate market trends for September 2013. Provided by Arthur Prescott and Prudential Georgia Realty. Get the latest details on the Metro Atlanta home sales trends, listing inventory, sales volume and more.
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
This document provides an overview of the California and U.S. economic and real estate markets. It summarizes that the U.S. employment and housing markets have improved in recent years but headwinds to growth remain. The California apartment market is nearing pre-recession metrics with new supply becoming a concern in major metro areas like Los Angeles and San Francisco. Rents have risen substantially in California markets like San Francisco and San Jose since 2001, outpacing national averages, while affordability gaps between rents and mortgage payments on median priced homes have widened significantly.
- The document provides an economic overview of Austin, Texas presented by Brian Kelsey of Civic Analytics LLC.
- It shows that Austin's economic growth has outpaced most major metros since 2009, with GDP and job growth about 3 times the national rate.
- Austin has a booming tech sector and is among the fastest growing tech markets, though it still faces challenges finding enough qualified workers to fill openings.
- The presentation examines indicators of Austin's strong economy as well as issues of inclusive economic development and workforce demand.
Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Comme...Coldwell Banker Commercial
The document summarizes a study that ranked over 80 commercial real estate markets across the United States based on 5 factors: office, retail, and multi-family vacancy rates and rental rates from Q3 2013 to Q3 2014 as well as population and unemployment changes over the same period. Denver, CO was ranked as the top market based on having the highest cumulative score across all factors. The top 10 markets also included San Francisco, Houston, Dallas, San Jose, Phoenix, San Antonio, Las Vegas, Austin, and Orange County.
The document summarizes data from RealtyTrac on the 25 most profitable housing markets in the US for house flipping in 2012. It provides the metro area, number of single family home flips, percentage change from the previous year, average purchase price, average flipped sale price, gross profit per flip, and percentage gross profit change. Markets like Orlando, Las Vegas, and Phoenix topped the list with gross profits per flip of $64,976, $70,747, and $63,762 respectively.
This document provides a market summary of office, R&D, and industrial space for the North Peninsula area for the first quarter of 2013. It includes data on inventory, vacancy rates, net absorption, and average rental rates. Some notable lease and sale transactions are highlighted. Historical statistics on inventory, vacancy, absorption, and rental rates going back to 2008 are also presented.
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
This document is an index published by the American Institute for Economic Research (AIER) that ranks 75 metropolitan areas and college towns in the United States based on criteria impacting the student experience. The index measures 12 criteria across four categories: economic health, student life, culture, and opportunity. It provides rankings for major metro areas, mid-size metro areas, small metro areas, and college towns. For each location, it lists data for the 12 criteria, including measures like student concentration, cost of housing, unemployment rate, and median earnings.
The document provides an overview of the office, R&D, and industrial real estate markets in the North Peninsula area for the second quarter of 2013. It includes data on inventory, availability rates, net absorption, and average rental rates. Several significant lease and sale transactions are also highlighted. Historical statistics on inventory, availability, absorption, and rental rates going back to 2008 are presented in tables.
JLL Detroit Office Insight & Statistics - Q3 2019Harrison West
As we look ahead to the end of 2019, we can expect the stable conditions in the Detroit office market to remain. Downtown’s Class A vacancy remains extremely tight outside of the Renaissance Center and will likely stay that way until new inventory is added to the market.
Southern California Industrial & Logistics OverviewRon Mgrublian
Nice overview of the Southern California Industrial Market as it relates to Infrastructure and Logistics. Also a nice Availability Forecast and Analysis of Trends in the Marketplace. Feel free to contact me to discuss further.
JLL Downtown Chicago Office Market Update - Q3 2016Hailey Harrington
Chicago's shifting supply and demand. River North Inventory increases 4.2 million square feet of new product as tech tenant demand driving conversions to office due to limited supply.
The document provides an overview of capital market trends in the United States for the second quarter of 2016. Some key points from the report include: International capital continues to invest heavily in the US market due to higher cap rates compared to bond yields globally; Top regional buyers are led by Blackstone, which invested over $10 billion across various markets; Office pricing is strongest in major coastal cities like New York, San Francisco and Boston, with eight markets averaging over $400 per square foot; Population growth and investment activity are highest in "18-hour cities" driven by technology like Austin, Denver, Nashville and Seattle.
Metro Atlanta Real Estate Market Trends December 2017Arthur Prescott
Metro Atlanta Real Estate Market Trends December 2017. Provided by Arthur Prescott and Berkshire Hathaway HomeServices Georgia Properties.
www.LakeSidneyLanierHomes.com
The St. Louis office market summary document reports:
1) Job growth in St. Louis has accelerated and is now on par with national growth rates, with financial activities and professional services posting annual gains.
2) Vacancy rates have fallen below 14% for the first time since 2008 due to several large lease expansions. Class A suburban vacancy has hit single digits.
3) Large blocks of Class A office space remain scarce due to limited new construction supply, restricting options for tenants seeking over 50,000 square feet.
Metro Atlanta Real Estate Market Trends September 2013Arthur Prescott
Atlanta real estate market trends for September 2013. Provided by Arthur Prescott and Prudential Georgia Realty. Get the latest details on the Metro Atlanta home sales trends, listing inventory, sales volume and more.
The Columbus retail market saw positive absorption of 49,058 square feet in Q1 2013, continuing a trend of positive absorption over the past year. Vacancy decreased slightly to 10% as major leases were signed and new retailers entered the market. Construction activity remains high with over 170,000 square feet currently under development. The retail market is expected to continue slow, steady growth as new apartment construction brings additional retail demand.
The Columbus office market gained positive absorption for the fourth consecutive quarter. The vacancy rate is now 11.7%, and construction continues with several large projects starting. Rental rates have increased slightly for Class A and B spaces over the past quarter. The largest new leases were Cardinal Health expanding 61,128 sq ft and the FBI leasing 44,926 sq ft. The unemployment rate rose to 6.4% but remains lower than in previous years.
The Columbus office market gained positive absorption for the third quarter in a row. Construction continues to pick up with new projects starting. Vacancy rates fell slightly to 11.3% as absorption outpaced new construction. Investment sales remained strong in the fourth quarter, with several large portfolio and building sales. Rental rates increased over the course of 2012 for Class A and B spaces. The market outlook remains optimistic as leasing activity was higher than the average of prior fourth quarters.
The Columbus industrial market recorded strong positive absorption of over 1.4 million square feet in the fourth quarter and nearly 5 million square feet for the year. Notable construction projects were completed including a 418,655 square foot expansion and a 30,000 square foot building. Significant leases were signed including 185,000 square feet to Great Lakes and 168,850 square feet to Rogue Fitness. Overall vacancy rates decreased and rental rates remained stable with a slight increase for warehouse/distribution spaces.
The Cincinnati retail market closed out 2012 on a respectable note. The vacancy rate improved to 10.41% in the fourth quarter from 12.5% at the beginning of the year. There was 525,355 square feet of positive absorption in the last three quarters of 2012. Major developments are projected to boost the market in 2013, including the opening of the Horseshoe Casino in March and continued construction at The Banks project.
The Greater Cincinnati office market continued slowing in Q4 2012, with net absorption of -320,686 sq ft and vacancy rising to 20.03%. The Central Business District saw a small increase in positive absorption but not enough to offset the year's negative total. Most negative absorption occurred in the suburbs, pushing the suburban vacancy rate to 21.01%. Developers are starting to market and plan new construction projects as uncertainty from the previous year dissipates.
The Greater Cincinnati industrial market finished 2012 strongly, with positive absorption of 856,364 square feet in Q4. For the full year, net absorption was 624,477 square feet. The overall vacancy rate declined to 9.2% from 9.5% in Q3. Northern Kentucky submarkets performed particularly well, with over 1 million square feet of positive absorption for the year. Rental rates varied by submarket but averaged $3.37 per square foot overall. Limited new construction occurred, with demand expected to drive more development in 2013.
The Columbus retail market recorded positive net absorption of 108,252 square feet in the third quarter of 2012. Vacancy rates decreased slightly to 10.1% from 10.2% in the previous quarter. Notable leases included Nordstrom Rack leasing 36,250 square feet and Star Lanes leasing 35,000 square feet. Construction activity also increased with over 170,000 square feet of new space breaking ground in the past 90 days. The retail market in Columbus continues its recovery with improving absorption, rental, and construction trends.
The document provides an overview of office market trends in the Columbus region for Q2 2012. It finds that while absorption was positive at 32,000 square feet, vacancy increased due to a large vacancy in the Easton submarket. Asking rental rates have steadily increased over the past year. Market activity picked up compared to Q1 2012, though leasing volume was still below past years. The unemployment rate in Columbus fell to 6.1% in May. Key employment sectors like education/health and finance saw growth. Overall, the report finds more activity in the office market but little gain in reducing vacancy rates.
This document provides an industrial market trends report for the Greater Columbus region for Q2 2012. It finds that the industrial market recorded its fifth consecutive quarter of strong positive absorption, with over 1.4 million square feet absorbed. Over 750,000 square feet of construction projects were completed this quarter and another 425,000 square feet began construction. Major leases were signed by Jacobson Warehouse and Closed Loop Refining & Recovery. The report also notes continued construction and leasing activity, stable rental rates, and a moderate pace of economic growth in the region according to the Federal Reserve Bank of Cleveland.
annually. All three sources point to a consumer
that is cautious but spending. The consumer
Europe/Middle East/Africa: 170
The Columbus retail market saw moderate confidence index rose in December to its highest Asia Pacific: 161
positive absorption of 108,000 square feet in Q4 level since July. Gallup’s weekly consumer
2011, with vacancy rates decreasing slightly. spending poll shows spending steady to up slightly.
Larger property sales included a 443,000- The Beige Book noted that consumer spending
square-foot power center for $80 million and a was flat to up modestly across most of the Federal
120,000-square-foot strip center for $
The Columbus office market gained 233,000 square feet of positive absorption in Q4 2011, with vacancy decreasing to 12.2%. Construction has remained slow. Duke Realty sold 19 class A and B office properties totaling over 2 million square feet to Blackstone for $1.08 billion. The unemployment rate in Columbus dipped to 6.6% in November, and information, financial activities, and professional/business services employment increased or remained steady.
The industrial market in the Greater Columbus region saw positive absorption of 52,000 square feet in Q4 2011, led by Zulily leasing over 737,000 square feet at 3051 Creekside Parkway. There were also several significant investment sales, including KTR Capital Partners purchasing five properties totaling over 2.5 million square feet from Allianz Life Insurance Co. for $62 million. Vacancy rates remained stable at 11.9% while rental rates also remained stable compared to previous quarters. Construction activity decreased compared to previous quarters.
The Columbus retail market saw a dip in the first quarter of 2012 with negative absorption of 123,632 square feet, primarily in the Southeast, Northwest, and Northeast submarkets. The vacancy rate increased to 11.1% while rental rates fell for big box, community, and anchored strip centers. Several retailers are closing stores including Sears, Kmart, Best Buy, and The Great Indoors, while Cabela's will be opening its first Ohio store in Polaris. Construction is underway on projects like the New Market Mall renovation and a 30,000 square foot community center in the Northwest submarket.
The industrial market in the Greater Columbus region continued to see strong leasing activity in Q1 2012, with over 1.2 million square feet of positive absorption. The vacancy rate dropped to 10.9%, the lowest since 2007. Several large leases were signed, including Innotrac taking 434,000 sq ft and Shasta Beverage taking 134,000 sq ft. Rental rates for warehouse/distribution space remained flat, while rates for R&D/Flex space increased for the third consecutive quarter. The regional industrial economy saw stable or moderately higher new orders and production among manufacturers.
Columbus Knowledge thats Sells March 2012 colliersohio
1) The owners of the LeVeque Tower in downtown Columbus are investing up to $22 million to renovate the landmark skyscraper by adding a hotel and apartments.
2) Nationwide Children's Hospital opened a new $6.3 million sports medicine and orthopedic center in Dublin, Ohio, its second facility of this kind in the area.
3) Consumer confidence rose dramatically in February according to The Conference Board's Consumer Confidence Index, reaching its highest level since February 2011.
Columbus Knowledge thats Sells January 2012colliersohio
The document provides an overview of recent real estate, development, industrial, retail, and office news in central Ohio from January 2012. It discusses topics such as Sears receiving tax breaks to remain in the area, various commercial real estate sales and developments, expanding companies, and new restaurants and retailers opening locations. It also mentions community involvement by the local Colliers International office in supporting a homeless families foundation.
The Columbus region office market saw slight negative absorption of 18,000 square feet in Q1 2012, leaving the vacancy rate at 12.1%. Westerville submarket gains absorption with 26,000 square feet absorbed, while Arlington/Grandview lost 36,000 square feet. Notable leases included Cott Systems taking 19,000 square feet in Westerville and ASK Chemicals leasing 16,000 square feet in Dublin. The employment and construction outlooks remain positive with several large projects underway or planned.
In Q4 2011, the Greater Cincinnati retail market saw strong demand and absorption. Net absorption for the quarter was 78,540 square feet, bringing yearly net absorption to 630,236 square feet and lowering the overall vacancy rate to 12.8%. Several major development and redevelopment projects were underway, including The Banks mixed-use project in downtown Cincinnati. Looking ahead to 2012, demand is expected to remain strong with vacancy rates projected to continue declining slightly.
The Greater Cincinnati office market finished the fourth quarter of 2011 relatively strong, with a modest amount of growth. The overall vacancy rate was 20.5% and net absorption for the quarter was 30,261 square feet, bringing year-to-date absorption to 50,163 square feet. Medical tenants were the most active, and this trend is expected to continue driving growth in 2012. Rental rates increased slightly to $18.03 per square foot. The Central Business District saw negative absorption of 33,758 square feet, and Chiquita's announced relocation out of Cincinnati will impact availability. Suburban submarkets saw over 64,000 square feet of net absorption led by the I-71 North Corridor with over 81
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
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1. HIGHLIGHTS
NORTH AMERICA
www.colliers.com
Q3 2011 | Office
Ross J. Moore Chief Economist | USA
U.S. office markets posted another quarter of modest growth with slightly stronger demand and a mod-
est drop in vacancy. The much-anticipated recovery in the U.S. office market, however, remained largely
absent, with many businesses reluctant to commit to more space given the uncertainty in both the
domestic and global economies. With only modest economic growth and uneven employment gains, the
outlook for the U.S. office space market is far from certain, which means rents are unlikely to show any
appreciable change for at least the next twelve months.
By comparison, Canadian markets enjoyed a reasonably good quarter on the back of a slightly more
upbeat economy and a comparatively buoyant job market. Going forward, both the U.S. and Canadian
economies are expected to remain sluggish by historic standards, with little prospect of any material
change in light of the global macroeconomic backdrop. Given the uncertainty surrounding the European
sovereign debt crisis and the accompanying stresses in the banking sector, demand for office space is
highly unlikely to increase from levels experienced in the last few quarters. The U.S. economy should
escape a double-dip recession, but growth is anticipated to remain in the 1.0 to 2.0 percent range.
Based on year-to-date gains in occupied space, San Francisco (including the San Francisco Peninsula)
is a clear standout among the nation’s office markets, but a number of others are seeing reasonably
good gains in occupancy, including Charleston, Charlotte, Dallas–Ft. Worth, Houston, New York,
Orange County, San Diego, San Jose, Seattle and Washington, DC. Also somewhat positive is the
nineteen-month-long gain in private-sector employment, averaging 136,000 jobs per month. Furthermore,
Office vacancies are
expected to continue
to trend down, but
oversupply conditions
will remain in many
markets for some
time to come.
market indicators
Relative to prior period
u.s. Office market
Summary Statistics, Q3 2011
Office Space Markets Far From Robust,
But Growing Nonetheless
Q3
2011
Q4
2011*
VACANCY
NET ABSORPTION
construction
rental rate
*Projected
U.S. Office MARKET Q3 2009 – Q3 2011
Q32011
Q22011
Q12011
Q42010
Q32010
Q22010
Q12010
Absorption Completions Vacancy
MillionSquareFeet
Vacancy(%)
12.00
12.50
13.00
13.50
14.00
14.50
15.00
15.5
16.00
14.98
15.15
15.67 15.64
15.22
15.46 15.39
15.61
15.30
14.85
-30
-20
-10
0
10
20
Q32009
Q22009
Vacancy Rate: 15.22%
Change from Q2 2011: –0.09
Absorption:
9.4 Million Square Feet
New Construction:
4.3 Million Square Feet
Under Construction:
32.4 Million Square Feet
Asking Rents Per Square Foot
(Change from Q2 2011):
Downtown Class A: $39.86 (2.3%)
Suburban Class A: $25.55 (-1.9%)
continued on page 6
5. highlights | Q3 2011 | office | north America
Colliers International | p. 5
UNITED STATES | DOWNTOWN OFFICE | Class A
MARKET
EXISTING
INVENTORY (SF)
Sept 30, 2011
VACANCY
RATE (%)
June 30, 2011
VACANCY
RATE (%)
Sept 30, 2011
ABSORPTION
Q3 2011
(SF)
ABSORPTION
YTD 2011
(SF)
AVERAGE ANNUAL
QUOTED RENT
(USD PsF)
Sept 30, 2011
QUARTERLY
CHANGE IN
RENT
(%)
ANNUAL
CHANGE IN
RENT
(%)
Detroit, MI 11,416,000 14.74 16.03 (136,000) 150,000 22.50 (0.4) (1.0)
Grand Rapids, MI 1,567,000 20.21 22.34 0 5,000 21.00 5.2
Indianapolis, IN 9,776,000 12.17 12.55 (37,000) 34,000 19.40 1.5
Kansas City, MO 9,889,000 18.38 17.82 55,000 238,000 19.60 0.5 (6.1)
Minneapolis, MN 14,090,000 13.11 12.43 52,000 106,000 15.20 4.3
Omaha, NE 3,418,000 4.32 4.32 0 (25,000) 19.10 1.5
St. Louis, MO 10,755,000 14.73 15.91 (188,000) (203,000) 18.10 0.5 (5.0)
St. Paul, MN 3,433,000 8.86 8.99 (4,000) 12,000 13.40 (5.3)
MIDWEST TOTAL/AVERAGE 150,727,000 14.83 14.88 (140,000) 741,000 24.76
west
Bakersfield, CA 700,000 5.50 4.99 4,000 7,000 17.40 0.0 0.0
Boise, ID 2,038,000 5.75 6.46 (14,000) (27,000) 18.60 3.3 3.3
Denver, CO 20,569,000 11.99 13.01 (210,000) (87,000) 27.80 1.1 5.9
Fresno, CA 1,058,000 12.87 11.50 15,000 (22,000) 24.60 0.0 0.0
Honolulu, HI 4,709,000 13.27 14.21 (44,000) (93,000) 35.30 (0.3) (1.0)
Las Vegas, NV 808,000 11.26 9.12 36,000 3,000 33.70 4.5 (3.4)
Los Angeles, CA 17,734,000 15.63 14.98 116,000 (51,000) 38.50 0.0 (1.2)
Oakland, CA 10,198,000 10.49 11.20 (72,000) (127,000) 30.70 0.0 (1.2)
Phoenix, AZ 9,555,000 22.25 19.87 227,000 160,000 23.70 (0.6) (16.3)
Pleasanton/Walnut Creek, CA 7,950,000 19.36 16.94 193,000 116,000 27.60 5.5 5.5
Portland, OR 13,157,000 7.17 6.89 95,000 217,000 24.90 0.5 2.3
Reno, NV 548,000 21.10 17.32 31,000 100,000 23.30 3.2 (1.0)
Sacramento, CA 9,062,000 9.68 9.59 148,000 179,000 32.10 (0.7) (1.2)
San Diego, CA 7,254,000 18.89 17.36 111,000 (16,000) 28.30 (1.3) (3.3)
San Francisco, CA 52,333,000 14.01 12.66 656,000 1,315,000 38.40 4.0 6.0
San Jose/Silicon Valley, CA 3,365,000 30.91 31.60 (20,000) (69,000) 32.00 0.4 (7.6)
Seattle/Puget Sound, WA 32,337,000 18.33 17.22 359,000 660,000 30.50 3.0 7.0
Stockton, CA 2,774,000 22.19 20.25 14,000 (90,000) 20.50 (5.0) 11.8
WEST TOTAL/AVERAGE 196,150,000 14.90 14.12 1,643,000 2,176,000 32.02
U.S. TOTAL/AVERAGE 1,022,893,000 14.35 14.46 443,000 8,068,000 39.90 2.26 2.36
27.40 1.10 -3.32
weighted
equal
6. p. 6 | Colliers International
highlights | Q3 2011 | office | north America
office-using employment was relatively robust during the JulySeptember
period, with professional and business employment in particular up 3.4 percent
year-over-year (September).
U.S. office vacancies continue to drift lower. The U.S. national office vacancy
rate fell slightly during the July to September period, shifting nine basis points
lower (100 basis points equals one percent) to finish the quarter at 15.22
percent. During the third quarter, downtown vacancies increased six basis
points to register 13.90 percent at quarter end, while suburban office vacancies
dropped 16 basis points to average 15.87 percent. Over the past 12 months, the
U.S. national office vacancy rate has fallen 39 basis points. In the third quarter,
the flight to quality was particularly evident in Class A suburban markets
where vacancies shrank 50 basis points. Canadian office vacancy rates were
also mixed with the national central business district (CBD) vacancy rate
falling 54 basis points to 5.82 percent while suburban vacancies increased
16 basis points to 9.03 percent.
Office absorption positive for sixth the consecutive quarter. The U.S. office
market registered a sixth consecutive quarter of rising occupancy. Third-
quarter absorption came in at 9.4 million square feet (MSF). The composition
of this quarter’s absorption was highly skewed to suburban markets, whereas
last quarter two-thirds of total absorption was in downtown markets. Standout
markets in the third quarter included Dallas-Ft. Worth, Houston, Midtown
Manhattan, Orange County, Raleigh, Sacramento, San Francisco, San Diego,
Silicon Valley, suburban Detroit and suburban Washington, DC. Continuing a
trend seen over the past few quarters, Class A buildings continued to attract
“move-up” tenants: in particular, suburban Class A absorption totaled
8.0 MSF, or just over 85 percent of overall absorption. Canadian markets also
recorded an increase in occupied space during the third quarter, with absorp-
tion totaling 4.7 MSF. This was a healthy increase from the 3.6 MSF recorded
in the second quarter.
Suburban rents take a further down-leg, CBD rents rise slightly. After small
decreases in the second quarter, CBD rents posted a modest increase and
suburban rents drifted lower in the most recent three-month period. Third-
quarter data shows Class A CBD rents increased 2.3 percent to average $39.86
per square foot. Class A suburban rents moved lower, dropping 1.9 percent to
average $23.55 per square foot. Of the 60 downtown markets tracked, 33 saw
rents decrease, 20 saw rents increase and seven held steady. In the 60 sub-
urban markets, 29 markets saw rents drop, 24 rose and seven held steady.
Canadian downtown office rents moved substantially higher during the third
quarter, with Class A CBD rents increasing 6.1 percent while suburban Class
A rents increased 1.9 percent.
Office construction remains at record-low levels. Third-quarter office com-
pletions totaled just 4.3 MSF—a modest drop from the second quarter when
5.7 MSF were brought online—leaving year-to-date new supply at 15.5 MSF.
Construction underway increased by just 2.0 MSF relative to the second quar-
ter, with 32.4 MSF in various stages of development. Construction activity
remains exceptionally low by historic standards, and well below the cyclical
high reached in the second quarter of 2008 when 121 MSF was underway.
The Canadian office market added a modest level of new construction during
the third quarter, with the completion of 1.7 MSF square feet with another 7.3
MSF underway.
Office Space Markets Far From Robust,
But Growing Nonetheless
Continued from page 1
MonthtoMonthChange,thousands
2010 2011
-20
0
20
40
60
80
100
Jul-11Apr-10Jan-11Oct-10Jul-10Apr-10Jan-10
EMPLOYMENT, PROFESSIONAL & BUSINESS SERVICES
Philadelphia
Houston
Washington, DC
Chicago
Boston
Seattle
San Francisco
Midtown Manhattan
0 500000 1000000 1500000 2000000
aBSORPTION (SF) | sELECT downtown MARKETS | q3 2011
0 200,000 400,000 600,000 800,000
Northern New Jersey
Raleigh/Durham
Denver
San Diego
Raleigh/Durham
San Jose/Silicon Valley
Houston
Dallas
aBSORPTION (SF) | sELECT SUBURBAN MARKETS | q3 2011
Source: U.S. Bureau of Labor Statistics
12. p. 12 | Colliers International
highlights | Q3 2011 | office | north America
Inventory – Includes all existing multi- or single-
tenant leased and owner-occupied office properties
greater than or equal to 10,000 square feet (net
rentable area). In some larger markets this minimum
size threshold may vary up to 50,000 square feet.
Does not include medical or government buildings.
Vacancy Rate – Percentage of total inventory
physically vacant as at the survey date including
direct vacant and sublease space.
Absorption – Net change in physically occupied
space over a given period of time.
New Supply – Includes completed speculative and
build-to-suit construction. New supply quoted on a
net basis after any demolitions or conversions.
Annual Quoted Rent – Includes all costs associated
with occupying a full floor in the mid-rise portion of
a Class A building inclusive of taxes, insurance,
maintenance, janitorial and utilities (electricity
surcharges added where applicable). All office rents
in this report are quoted on an annual, gross per
square foot basis. Rent calculations do not include
sublease space.
Cap Rate – (Or going-in cap rate) Capitalization
rates in this survey are based on multi-tenant
institutional grade buildings fully leased at market
rents. Cap rates are calculated by dividing net
operating income (NOI) by purchase price.
Note: SF = square feet
PSF = per square foot
CBD = central business district
Glossary
CANADA | SUBURBAN OFFICE | ALL INVENTORY
MARKET
EXISTING
INVENTORY (SF)
sept 30, 2011
NEW SUPPLY
Q3 2011
(SF)
UNDER
CONSTRUCTION
(SF)
VACANCY
RATE (%)
sept 30, 2011
VACANCY
RATE (%)
June 30, 2011
ABSORPTION
Q3 2011
(SF)
ABSORPTION
YTD 2011
(SF)
Calgary, AB 23,437,000 0 732,000 9.19 11.01 (470,000) 152,000
Edmonton, AB 8,940,000 0 40,000 13.31 13.48
(15,000)
167,000
Guelph, ON 1,374,000 17,000 0 3.79 4.82 2,000 3,000
Halifax, NS 6,388,000 53,000 90,000 10.41 9.43 89,000 127,000
Montreal, QC 23,771,000 150,000 0 9.41 9.55 99,000 186,000
Ottawa, ON 20,956,000 318,000 0 7.74 8.02 234,000 (143,000)
Regina, SK 659,000 0 0 0.14 0.14 0 3,000
Toronto, ON 68,351,000 138,000 727,000 7.64 7.10 1,085,000 1,992,000
Vancouver, BC 27,273,000 0 785,000 10.75 10.59 44,000 138,000
Victoria, BC 3,573,000 0 113,000 10.18 8.54 0 66,000
Waterloo Region, ON 6,316,000 332,000 175,000 7.71 12.55 1,000 58,000
CANADA TOTAL/AVERAGE 191,037,000 1,008,000 2,662,000 8.86 9.03 1,069,000 2,749,000
CANADA | SUBURBAN office | class a
MARKET
EXISTING
INVENTORY (SF)
Sept 30, 2011
VACANCY
RATE (%)
sept 30,
2011
VACANCY
RATE (%)
June 30,
2011
ABSORPTION
Q3 2011
(SF)
ABSORPTION
YTD 2011
(SF)
AVERAGE ANNUAL
QUOTED RENT
(CAD PSF)
Sept 30, 2011
QUARTERLY
CHANGE
IN RENT
(%)
ANNUAL
CHANGE
IN RENT
(%)
Calgary, AB 10,829,000 7.94 10.63 (291,000) 349,000 40.00 5.3 23.1
Guelph, ON 838,000 0.86 3.20 (2,000) (7,000) 26.00 7.1
Halifax, NS 2,675,000 8.52 7.64 26,000 32,000 29.10 4.0 8.9
Montreal, QC 13,336,000 7.77 7.87 88,000 198,000 30.00 0.0 25.0
Ottawa, ON 11,944,000 7.80 8.04 264,000 276,000 30.00 0.2 (0.2)
Regina, SK 659,000 0.14 0.14 0 3,000 28.50 0.0 16.3
Toronto, ON 30,652,000 8.81 7.35 650,000 1,075,000 30.00 0.3 (4.9)
Vancouver, BC 13,132,000 13.07 10.88 287,000 350,000 38.30 0.0 4.3
Victoria, BC 817,000 8.67 8.93 0 (2,000) 40.00 0.0 21.2
Waterloo Region, ON 2,745,000 8.42 16.85 72,000 102,000 23.70 8.2 (8.9)
CANADA TOTAL/AVERAGE 87,628,000 8.89 8.68 1,093,000 2,377,000 32.30 1.91 4.34
31.60 2.18 6.34
weighted
equal