The Rise of the Gold Coast
|
|
- Blaise Hodges
- 6 years ago
- Views:
Transcription
1 Research & Forecast Report Long Island OFFICE MARKET Q The Rise of the Gold Coast Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B In the first quarter of 2015, Long Island Office Market weakened somewhat, which resulted in a higher vacancy rate and lower net absorption. Although the momentum tapered we still made significant progress as compared to Q Market Indicators Relative to prior period Q Q2 2015* Q Q2 2015* VACANCY Vacancy rates increased overall by 10 basis points (bps) to 11.0% in the first quarter of 2015, nothwithstanding that the vacancy rate in County decreased to 11.1%. County climbed to 10.9% from 10.4% in the first quarter of NET ABSORPTION Average asking rental rates improved to $26.43 per square foot, a 0.7% increase from the last quarter of Note: *Projected **Rental rates for current quarter are for suburban area. CONSTRUCTION RENTAL RATE** Net absorption dipped approximately 300,000 square feet into negative 81,000 square feet in Q Due to a rising unemployment rate on Long Island in the first quarter and the space efficiency trend contributing to the lower demand for office use. Additionally, adverse weather during the first quarter of 2015 was another key factor cooling off the office market. Yet, with the overall economic recovery predicted for the remainder of the year and warmer weather more conducive to productivity, the office market is expected to accelerate in the second quarter of Summary Statistics Q Long Island Office Market Long Island* Vacancy Rate 11.1% 10.9% 11.0% Net Absorption Vacancy Rate Suburban Class A & B $29.41 $23.40 $26.43 Change From Q % 0.52% 0.69% Suburban Class A $33.47 $28.27 $31.23 Change From Q % 0.10% 0.87% Change From Q (basis points) (Thousand Square Feet) (Class A) Net Absorption (Class A, Thousand Square Feet) Asking Rents Per Square Foot Per Year *Long Island Office Market refers to & Counties; 10,000 square feet and above
2 Overview Office asking rents in both and Counties continued to improve in the first quarter of Vacancy rates increased slightly throughout Long Island, with the exception of the Western, Central, Southern submarkets. The Long Island unemployment rate jumped to approximately 5.3% in Q from 4.5% in Q Unemployment Trends - & Q % Unemployed in Thousands Unemployment Rate 2Q % 5.1% 4.5% 5.3% 3Q2014 Source: NYS Department of Labor 4Q2014 1Q % 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Update Vacancy Rates, Asking Rents, & Absorption Vacancy Rates Average Asking Rents Net Absorption (in Thousands) Class A Class A&B Western Northern Central Eastern Southern Western Central Western Northern Central Eastern Southern Western Central Western Northern Central Eastern Southern Western Central 0.0% 10.0% 20.0% $0 $15 $30 (150) (100) (50) Source: CoStar and Colliers International LI, Inc. Vacancy Again the impact of a harsh winter caused a slight increase in availability to 11.0% in the first quarter of 2015, a 0.1% increase from the last quarter of 2014.However, the vacancy rate for County dipped 20 bps into 11.1% in Q and followed a sharp 100 bps drop in Q The vacancy rate for County trended upwards reaching 10.9% in Q1 2015, a 0.5% increase from Q The Central A and B submarket outperformed all other submarkets, recording a vacancy rate decrease of 50 bps to 9.4% in Q In comparison, the vacancy rate for the Northern submarket surged significantly by 3.5% to 13.3% in the first quarter of Other submarkets experienced mixed vacancy rates with slight fluctuations during the last few quarters. For Class A buildings the vacancy rate in the and rose to 11.9% in Q from 10.6% in Q The vacancy rates for Class A buildings climbed to 12.1% and 11.6% in and Counties respectively balanced out by a sharp decrease in availability in the Central submarket of 120 bps to 8.2% in Q from 9.4% in Q Rental Rate The average asking rental rates continued to climb, reaching $26.43 per square foot throughout the Long Island region in the first quarter of 2015, approximately a 0.7% increase from the last quarter of Likewise, the rental rates averaged at $29.41 per square foot in County and $23.40 per square foot in County. All of the submarkets reflected improvements in the average asking rental rates with the exception of the Central submarket, which declined to $28.33 per square foot in Q from $29.00 per square foot in Q The dichotomy of higher occupancy rates in the Central submarket was produced through for lower rental prices. With large blocks of space becoming scare, the average asking rents for Class A buildings especially continued its upward trend reaching $31.23 per square foot, up from $30.96 per square foot in Q In the past 5 quarters the rent for Class A buildings has risen $1.00 psf. 2 Long Island Research & Forecast Report Q Long Island Colliers International
3 Absorption Unfortunately, net absorption plunged to negative 81,178 square feet in Q from 233,718 positive square feet in Q It did remain positive at approximately 56,000 square feet in County while weighed down the overall with negative 138,000 square feet in Q The Central submarket reported the highest net absorption totaling 60,000 square feet. Buildings that had lowest net absorption in Q included 1 Jericho Plaza with negative 85,000 square feet and 165 Oser Avenue in Hauppauge totaling in excess of negative 34,000 square feet. The net absorption for Class A buildings on Long Island was also down to approximately negative 60,000 square feet. Sale & Lease Activity Although sale and lease activity slowed in the first quarter of 2015, there were a number of large deals completed during the quarter. Top lease signings included a 23,000 square foot office building at 1 Michael Avenue in Farmingdale by Human First. Urban Financial leased 12,625 square feet at 888 Veterans Memorial Highway in Hauppauge. Manhattan-based real estate investment company Philips International restructured the debt at 60 Cuttermill Road Great Neck with 107,000 square feet sold for $33.5 million, which equaled to approximately $ per square foot. Another major transaction was the sale of 444 Merrick Road, Lynbrook a 106,403 square foot Class B office building that was sold for $41,000,000, which was a milestone in the Southern submarket. Absorption - vs. (Square Feet) 0 (10,000) (20,000) (30,000) (40,000) (50,000) (60,000) 100,000 50,000 0 (50,000) (100,000) (150,000) (19,975) Net Absorption Class A & B 1Q ,486 Long Island (81,178) (137,664) Net Absorption Class A 1Q 2015 (39,784) Long Island (59,759) 1Q15 1Q15 Source: CoStar and Colliers International LI, Inc. Update Transaction Highlights office SALE ACTIVITY Property Address Town Submarket Size SF Sale Price 60 Cuttermill Road Great Neck Western 107,000 $33,500, Merrick Road Lynbrook Southern 106,403 $41,000, Elmont Road Elmont Western 41,040 $ 6,700, Brookside Drive Hauppauge Central 13,526 $ 2,420,000 office LEASE ACTIVITY Property Address Town Submarket Size SF Lease Type 1 Michael Avenue Farmingdale Eastern 23,000 Lease 888 Veterans Memorial Hwy Hauppauge Central 12,625 Lease 400 Broadhollow Road Melville Western 12,000 Lease 999 Stewart Avenue Bethpage Eastern 10,643 Renewal 3 Long Island Research & Forecast Report Q Long Island Colliers International
4 UPDATE - MARKET STATISTICS SNAPSHOT LONG ISLAND Class A & B COUNTY VACANCY RATE AVERAGE ASKING RENTS 1Q15 4Q14 3Q14 2Q14 1Q15 4Q14 3Q14 2Q14 Total 11.1% 11.3% 11.8% 11.9% $29.41 $29.16 $29.10 $ Bldgs Lease 10.9% 11.1% 11.6% 11.6% $29.40 $29.18 $29.12 $29.19 Sublease 0.2% 0.2% 0.3% 0.3% $29.98 $27.84 $28.26 $26.56 Total 10.9% 10.4% 10.5% 10.2% $23.40 $23.28 $23.27 $ Bldgs Lease 10.3% 9.9% 10.1% 9.7% $23.41 $23.31 $23.40 $23.43 Sublease 0.6% 0.5% 0.4% 0.5% $23.15 $21.77 $20.40 $20.41 Long Island Total 11.0% 10.9% 11.3% 11.2% $26.43 $26.25 $26.10 $ ,004 Bldgs Lease 10.6% 10.6% 10.9% 10.8% $26.45 $26.28 $26.21 $26.34 Sublease 0.4% 0.3% 0.3% 0.4% $24.93 $23.97 $22.83 $22.02 Total 12.1% 11.9% 11.8% 11.6% $33.47 $33.25 $33.24 $ Class A Bldgs Lease 11.6% 11.5% 11.3% 10.9% $33.47 $33.24 $33.39 $33.63 Sublease 0.5% 0.4% 0.5% 0.6% $32.56 $34.42 $28.88 $27.90 Total 11.6% 11.2% 11.5% 11.3% $28.27 $28.24 $27.68 $ Class A Bldgs Lease 10.5% 10.4% 10.7% 10.2% $28.25 $28.21 $28.28 $28.52 Sublease 1.2% 0.9% 0.7% 1.1% $29.26 $32.31 $20.46 $20.29 Long Island Total 11.9% 10.6% 11.6% 11.4% $31.23 $30.96 $30.51 $ Class A Bldgs Lease 11.1% 11.0% 11.0% 10.6% $31.25 $30.95 $30.94 $31.16 Sublease 0.8% 0.6% 0.6% 0.8% $30.36 $33.24 $23.04 $22.10 $ % $ % Average Asking Rent $27.0 $25.0 $23.0 $21.0 $19.0 & 8.00% 6.00% 4.00% 2.00% 0.00% Vacancy Rate Lease Vacancy Lease Ave. Rents Sublease Vacancy Sublease Ave. Rents Source: CoStar and Colliers International LI Inc. 4 Long Island Research & Forecast Report Q Long Island Colliers International
5 Featured Listings 1581 franklin avenue, garden city +/- 15,000 SF office building for sale/lease Upgraded finishes throughout Highly visible signage is available 5 cars parking per 1,000 SF Prominent address with prominent exposure 225 rabro drive, hauppauge 40,000 SF office space for Sale/Lease Situated on 3.60 Acres 1 Drive-In Door +/- 20 Ceiling Height 1,200 Amps/3 Volts 210 car parking inclusive of 6 handicapped spaces 1981/1983 marcus ave, lake success 350,000 SF Building for Lease/Sale Beautiful campus setting Cafeteria in Building Convenient access to major highways Underground parking 401 franklin avenue, garden city +/- 5,700 SF Office space for lease Walk less than 500 yards to the LIRR Atrium, on-site food service & health club Accessible to all major highways Near shops/restaurants & Garden City Hotel/ US Post Office Copyright 2015 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report. 5 Colliers International Long Island 1981 Marcus Avenue, Suite E104 Lake Success, New York colliers.com/long Island North American Research & Forecast Report Q Office Market Outlook Colliers International
6 502 offices in 67 countries on 6 continents United States: 140 Canada: 31 Latin America: 24 Asia Pacific: 199 EMEA: 108 Market Contact: Rose Liu Research & Financial Analyst Long Island Main Ext. 555 Dir rose.liu@colliers.com $2.3 billion in annual revenue 1.7 billion square feet under management 16,300 professionals and staff About Colliers International Colliers International is a global leader in commercial real estate services, with more than 16,300 professionals operating out of 502 offices in 67 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate occupiers, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. Colliers International has been recognized and ranked by the International Association of Outsourcing Professionals Global Outsourcing 100 for 10 consecutive years, more than any other real estate services firm. colliers.com Copyright 2015 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
Stronger Office Market Looking Into Future
Research & Forecast Report Long Island OFFICE MARKET Q2 2015 Stronger Office Market Looking Into Future Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Long Island economic and
More informationOffice Market Remained Steady in Q4
Research & Forecast Report Long Island OFFICE MARKET Q4 2015 Office Market Remained Steady in Q4 Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Continuing the momentum, the Long
More informationThe Improvement of the Industrial Market
Research & Forecast Report Long Island industrial MARKET Q2 2015 The Improvement of the Industrial Market Rose Liu Research & Financial Analyst Long Island Takeaways The overall economy on Long Island
More informationThe Industrial Market Cooled Off in Q1
Research & Forecast Report Long Island industrial MARKET Q1 2016 The Industrial Market Cooled Off in Q1 Rose Liu Director of Finance & Research Long Island Takeaways > > Long Island industrial market slowed
More informationLeasing Activity Ticked Up with A Large Upswing of Absorption
Research & Forecast Report LONG ISLAND INDUSTRIAL MARKET Leasing Activity Ticked Up with A Large Upswing of Absorption Rose Liu Director of Finance & Research Long Island Takeaways > > The outlook of the
More informationVacancy Increased Slightly During the First Quarter
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2016 Vacancy Increased Slightly During the First Quarter > Vacancy rates have been steadily declining since the fourth quarter of 2011.
More informationHomestretch: Office Market Set to Finish Strong
Research & Forecast Report RENO OFFICE Q3 2016 Homestretch: Office Market Set to Finish Strong >> Vacancy drops significantly the largest drop quarter over quarter in 2016 >> Rental rates are not increasing
More informationShrinking Supply Continues To Push Rates
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2017 Shrinking Supply Continues To Push Rates > Office inventory: 8,221,819 > Vacancy: 10.5 percent > Net absorption: 49,103 year-to-date
More informationRALEIGH-DURHAM MULTIFAMILY Q Unprecedented Investment Sales Crush All-Time Records in Research & Forecast Report.
Research & Forecast Report RALEIGH-DURHAM MULTIFAMILY Q4 2015 Unprecedented Investment Sales Crush All-Time Records in 2015 Market Indicators Relative to prior period - Q4 2014 - Q4 2015 Emily Bostic Research
More informationRALEIGH-DURHAM MULTIFAMILY MIDYEAR Demand at an All-Time High, Skyrocketing Same-Unit Rents. Research & Forecast Report.
Research & Forecast Report RALEIGH- MULTIFAMILY MIDYEAR 2015 Demand at an All-Time High, Skyrocketing Same-Unit Rents Market Indicators Relative to prior period VACANCY Raleigh-Durham JAN 2015 Raleigh-Durham
More informationRALEIGH-DURHAM MULTIFAMILY. Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand. Research & Forecast Report.
Research & Forecast Report RALEIGHDURHAM MULTIFAMILY MidYear 2018 Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand Ed Finley Research Analyst RaleighDurham Market Indicators Relative
More informationMedical Takes a Sick Quarter
Research & Forecast Report LAS VEGAS MEDICAL OFFICE Q3 2015 Medical Takes a Sick Quarter > > After two quarters of growth, the medical real estate sector stalled in the third quarter of 2015 > > Asking
More informationRed Hot Rents & Cooling Vacancy
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2017 Red Hot Rents & Cooling Vacancy > > Office Inventory: 16,926,446 Square Feet > > Vacancy: 12.9 percent > > Net absorption: (380,946) Square
More information2018: A Ground Breaking Year
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q4 2017 2018: A Ground Breaking Year > Office inventory: 8,527,819 > Vacancy: 10.6 percent > Net absorption: 310,934 year-to-date The Northern
More informationOffice Market Continues to Improve
Research & Forecast Report LAS VEGAS OFFICE Q3 2016 Office Market Continues to Improve > > Southern Nevada s office market is improving at a steady rate > > Net absorption has been positive in twelve of
More informationRALEIGH-DURHAM MULTIFAMILY Year End 2017
Research Report -DURHAM MULTIFAMILY Year End 2017 Multifamily Growth Expected to Continue in 2018, Despite a Moderate Decrease in Permitting Totals Emily Bostic Research Analyst Raleigh-Durham Key Takeaways
More informationRALEIGH-DURHAM OFFICE Q1 2017
Research & Forecast Report RALEIGH-DURHAM OFFICE Q1 2017 Office Market Remains Stable During First Quarter 2017; Class A Market Continues to Peak Emily Bostic Research Analyst Raleigh-Durham Market Indicators
More informationRaleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come
Research Report RALEIGH-DURHAM INDUSTRIAL Q1 2018 Raleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come Key Takeaways > > The demand for industrial space in the Raleigh-Durham
More informationLow Vacancy Stimulates New Developments
Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2015 Low Vacancy Stimulates New Developments > > Multifamily vacancy dipped below 5 percent in the third quarter of 2015 ELECTRIC Meter Hookups NEW HOME
More informationThe Office Market Feels The Heat in Q2
Research & Forecast Report RENO OFFICE Q2 2017 The Office Market Feels The Heat in Q2 >>All major office submarkets have decreased vacancy and positive absorption this quarter >>The overall vacancy decreased
More informationVACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20
Research & Forecast Report RENO OFFICE Q4 A Good Year Overall > Building sale prices are significantly higher than. > Seven buildings over 40,000 sf sold in, more than in previous years. > Many large office
More informationQuick Absorption of Newly Constructed Office Buildings
Research & Forecast Report CHARLESTON, SC OFFICE Q3 2016 Quick Absorption of Newly Constructed Office Buildings Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> The Interstate 526
More information2.8% 2.0% $811M. 2017: A Solid Year for the Metro Denver Office Sector HIGHLIGHTED METRO DENVER OFFICE. Market Report Q ECONOMIC TRENDS
Market Report METRO DENVER OFFICE Q4 2017 2017: A Solid Year for the Metro Denver Office Sector MARKET OVERVIEW Denver s office market finished 2017 with strong positive absorption during the fourth quarter
More informationOverall Industrial Market Off to Solid First Quarter; Flex Market Rebounding
Research & Forecast Report RALEIGH-DURHAM INDUSTRIAL Overall Industrial Market Off to Solid First Quarter; Flex Market Rebounding Emily Bostic Research Analyst Raleigh-Durham Key Takeaways > > The Triangle
More informationStrong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016
Research & Forecast Report NASHVILLE INDUSTRIAL 2nd Quarter 2016 Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016 2Q 2016 Summary > > The tightening market coupled with
More informationSwitching Gears NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2017 Switching Gears > > Office Inventory: 16,926,446 square feet > > Vacancy: 14 percent > > Net absorption: (562,879) square feet, year to date
More informationOffice Market Heats Up as Temperatures Cool
Research & Forecast Report RENO OFFICE Q3 2017 Office Market Heats Up as Temperatures Cool >>Vacancy decreased to 11.8% >>Positive net absorption of 36,041 square feet >>Construction is imminent with limited
More informationSoft Land Market in 2017
Research & Forecast Report LAND Q4 217 Soft Land Market in 217 > > Land sales in 217 fell behind 216 > > A lack of large sales at Apex brought the average price per square foot up > > Strong development
More informationMANHATTAN OFFICE 2017
Research Report MANHATTAN OFFICE 2017 Accelerating success. % $ ± Market Indicators Full Year 2016 Full Year 2017 Y-O-Y Change AVAILABILITY RATE 10.3% 10.0% -0.3pp AVERAGE ASKING RENT ($/SF/YR) $73.24
More informationEverything Old is New Again
MARKET REPORT OFFICE Second Quarter 2016 Everything Old is New Again Market Indicators Q2 2016 2017 (Projected) While the global economy remains on its Jekyll and Hyde path, the District s commercial real
More informationGreenville defies the nationwide trend of retail closures
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q3 2017 Greenville defies the nationwide trend of retail closures Crystal Baker Research Coordinator South Carolina Key Takeaways >
More informationSolid Fundamentals Keep Nashville Industrial Market Competitive in 1Q
Research & Forecast Report NASHVILLE INDUSTRIAL 1st Quarter Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q 1Q Summary >> Nashville s industrial vacancy rate increased slightly in
More informationCaution: Vacancy Increases Ahead
MARKET REPORT DISTRICT OF COLUMBIA OFFICE Fourth Quarter 2016 Caution: Vacancy Increases Ahead Market Indicators Q4 2016 2017 (Projected) NET Despite year-to-date negative absorption, the Washington, DC
More informationVacancy Inches Higher, Despite Continued Absorption
Research & Forecast Report GREATER PHOENIX OFFICE 1Q 2017 Vacancy Inches Higher, Despite Continued Absorption Key Takeaways > > Improving conditions in the Greater Phoenix office market took a pause in
More informationVacancy Edges Lower in Fourth Quarter
Research & Forecast Report FAIRFIELD OFFICE Q4 Vacancy Edges Lower in Fourth Quarter > > Office Inventory: 5,067,112 > > Current Vacancy: 14.2% > > Net Absorption: 63,610 The vacancy rate for office space
More informationLandlords Getting Aggressive
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2017 Landlords Getting Aggressive Ron Anderson Vice President of Administration South Carolina Key Takeaways > > Landlords
More informationTesting the Waters. ST. LOUIS OFFICE Second Quarter Research & Forecast Report. Market Indicators Q Q Q FORECAST
Research & Forecast Report ST. LOUIS OFFICE Second Quarter 2017 Testing the Waters In the second quarter 2017, an increasing number of Class A office property owners have begun testing the waters and placing
More informationGreenville is a tenant s market
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2018 Greenville is a tenant s market Crystal Baker Research Coordinator South Carolina Key Takeaways > > Large blocks
More informationLand Sales Lighter in Third Quarter
Research & Forecast Report LAND Q3 216 Land Sales Lighter in Third Quarter > > While land sales are up in 216 overall, they decreased in the third quarter Economic Indicators > > Apex continues to dominate
More informationNashville the #5 Market to Watch in 2019
Research & Forecast Report NASHVILLE INDUSTRIAL 4 th Quarter Nashville the #5 Market to Watch in 2019 Industrial Market The industrial real estate sector is currently undergoing one of the greatest expansionary
More informationWeighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2018 Weighing Options > > Office Inventory: 16,966,736 square feet > > Vacancy: 15 percent > > Net absorption: (35,823) square feet, year to date
More information+48.6 million sf office inventory
Research Market Report METROPOLITAN MILWAUKEE OFFICE 2018 Quarter 1 Research Wisconsin Introduction Following a strong second half of 2017, 2018 had a slow start. Despite an increase in vacancy and negative
More informationNew and improved approach to retail
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q4 2017 New and improved approach to retail Crystal Baker Research Coordinator South Carolina Key Takeaways > > Rents remain stable
More information>> Negative Net Absorption Despite Completions
Research & Forecast Report MID-COUNTIES INDUSTRIAL Accelerating success. >> Negative Net Absorption Despite Completions Key Takeaways > This quarter, 542,000 square feet of industrial space finished construction,
More informationInvestor Activity Spurs New Opportunities
Research & Forecast Report GREENVILLE ANDERSON SOUTH CAROLINA OFFICE Q1 017 Investor Activity Spurs New Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Activity from
More informationSurging Rents Carry the North I-680 Corridor
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2018 Surging Rents Carry the North I-680 Corridor > > Office Inventory: 16,967,009 Square Feet > > Vacancy: 15.4 percent > > Net absorption: (103,748)
More information>> Orange County Market Gains Positive Momentum
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> Orange County Market Gains Positive Momentum Key Takeaways > The Orange County office market saw positive demand for third quarter
More informationA tight Columbia market may lead to office transformation
Research & Forecast Report COLUMBIA, SC OFFICE Q3 2018 A tight Columbia market may lead to office transformation Crystal Baker Research Coordinator South Carolina Key Takeaways > > The Columbia office
More informationIndianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE
INDIANAPOLIS OFFICE Economic Indicators Q2 17 Q2 18 MSA Employment 1.1M 1.1M MSA Unemployment 3.3% 3.0% U.S. Unemployment 4.3% 3. Market Indicators (Direct, All Classes) Q2 17 Q2 18 Total Market Vacancy
More informationThe Woodlands office submarket snapshot
Gosling Rd. Research Snapshot THE WOODLANDS OFFICE Q2 218 office submarket snapshot Lisa Bridges Director of Market Research Houston Once again, office submarket performed well over the quarter, posting
More information>> 2016 Off to A Good Start for Tri-Cities
Research & Forecast Report TRI-CITIES OFFICE Q1 216 Accelerating success. >> 216 Off to A Good Start for Tri-Cities Key Takeaways > The Tri-Cities office market saw vacancy decline for the seventh consecutive
More informationMultifamily Stable and Expanding
Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2017 Multifamily Stable and Expanding > > Multifamily vacancy decreased to 3.0 percent in the second quarter of 2017 Economic Indicators > > No new projects
More information>> Orange County Vacancy Continues to Decline
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> Orange County Continues to Decline Key Takeaways > The South County submarket led the Orange County market in overall net absorption
More informationStrengthening Market Fuels Investment Opportunities
Research & Forecast Report GREENVILLE, SC OFFICE Q3 2016 Strengthening Market Fuels Investment Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> Investment sale opportunities
More informationMarket Research. Market Indicators
colliers international LAS VEGAS, NV Market Research OFFICE Third Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q3-09 Q4-2009 Projected Clark County Economic Data Jul-09 Jul-08
More informationHas The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.
Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross
More informationDenver s Retail Sector Keeps Rolling 500, , , , , , , , ,000 50,000. Square Feet
Research & Forecast Report METRO DENVER RETAIL Q4 2017 s Retail Sector Keeps Rolling Market Overview Net absorption finished the second half of 2017 with strong positive numbers from s Central and Northwest
More informationRESEARCH & FORECAST REPORT
Q2 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Recovery Without Job Growth? Despite office employment still trending downwards, Southern Nevada s office market posted positive net absorption
More information>> Orange County Rents Increase to Start 2017
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> Orange County Rents Increase to Start 2017 Key Takeaways > The Orange County office market saw positive demand for the first part
More information>What constitutes a. Big Box Vacancy Decreases for First Time in Two Years. CHICAGO BIG BOX First Quarter Research & Forecast Report
Research & Forecast Report CHICAGO BIG BOX First Quarter 018 Big Box Vacancy Decreases for First Time in Two Years Craig Hurvitz Vice President Chicago The vacancy rate for the Chicago market s big box
More informationResearch Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3. Introduction. Research Wisconsin. Market Indicators
Research Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3 Research Wisconsin Introduction NORTHWEST With one of the biggest investments made by a foreign company to the United States, Q3 started
More informationMarket Research. OFFICE First Quarter 2010
colliers international LAS VEGAS, NV Market Research OFFICE First Quarter 2010 Market Indicators Net Absorption Construction Rental Rate Q1-10 Q2-2010 Projected Clark County Economic Data Jan-10 Jan-09
More informationRALEIGH-DURHAM OFFICE
Research Report RALEIGH-DURHAM OFFICE Q2 2018 Accelerate Success Triangle Continues to Grow, Future Office Deliveries Expected to Drive Leasing Activity Kelsey Rogers Research Analyst Raleigh- Key Takeaways
More informationCZECH REPUBLIC RESEARCH & FORECAST REPORT Q Accelerating success.
CZECH REPUBLIC RESEARCH & FORECAST REPORT Accelerating success. RESEARCH & FORECAST REPORT CZECH REPUBLIC PRAGUE OFFICE PROPERTY MARKET SUPPLY METRIC KEY OFFICE FIGURES MEASURE Total Stock 2,773,296 m
More information>> New Construction Delivers to the Orange County Office Market
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> New Construction Delivers to the Orange County Office Market Key Takeaways > Three new office developments were delivered to the
More information2018: The Year of Office Sales
Research & Forecast Report RENO OFFICE Q4 2018 2018: The Year of Office Sales >> Multiple significant office sales over 10,000 square feet >> Large blocks of space returned to the market increasing vacancy
More informationOffice Stays Positive
Q2 2014 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Stays Positive While it may not always be pretty, Southern Nevada s office market continues to improve. Net absorption increased in the
More informationNew Construction Offers Hope to Larger Users
Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q3 2017 New Construction Offers Hope to Larger Users > Vacancy rates in the Tri-Valley industrial market are now down to a record 0.9 percent
More informationQuiet Start to Second Half of 2017
Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q3 Quiet Start to Second Half of > The vacancy rate for the Tri-Valley continued its downward slope closing the quarter at 10.0 percent > Weighted
More informationHolding Steady NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q2 2018 Holding Steady > > Office Inventory: 16,998,288 Square Feet > > Vacancy: 14.5 percent > > Net absorption: 25,027 square feet year-to-date
More information1Q 17. Long Island Market Report
1Q 17 Long Island Market Report Long Island Office 1Q 217 Long Island 1Q17 Office Office Report The Long Island Office market ended the first quarter 217 with a vacancy rate of 7.1%. The vacancy rate was
More informationWith Low Vacancy, What Is Next?
Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q3 With Low Vacancy, What Is Next? > Vacancy rates continue to fall, reporting 5.4 percent for the third quarter. > Asking rates climb to $0.72
More informationOffice Leasing Activity Hits a Road Bump In Omaha and Nationally
Research & Forecast Report OMAHA OFFICE Fourth Quarter 2017 Office Leasing Activity Hits a Road Bump In Omaha and Nationally In the fourth quarter of 2017, the Omaha office market experienced negative
More information>> Vacancy Falls To Lowest Rate Ever
Research & Forecast Report San Gabriel VALLEY INDUSTRIAL Accelerating success. >> Vacancy Falls To Lowest Rate Ever Key Takeaways Market Indicators Relative to prior period Forecast Construction Rental
More information>> Asking Rents Increase As Space Remains Limited
Research & Forecast Report MID-COUNTIES INDUSTRIAL Accelerating success. >> Asking Rents Increase As Space Remains Limited Key Takeaways > Average asking rents increased $0.02 Per Square Foot (P) Triple
More informationIndustrial Market Review
Q3 2013 industrial Stockton San JoAquin County, California research & forecast Report Industrial Market Review Amazon s Completed Facility Helps Balance the Market The San Joaquin County industrial real
More information2Q 17. Long Island Market Report
2Q 17 Long Island Market Report Long Island Office 2Q 217 Long Island 2Q17 Office Office Report The Long Island Office market ended the second quarter 217 with a vacancy rate of 7.2%. The vacancy rate
More informationMarket Demands More Investment Product
Research & Forecast Report CHARLESTON INVESTMENT Q2 2016 Market Demands More Investment Product Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Investors are seeking opportunities
More informationMarket Overview TAMPA BAY OFFICE THIRD QUARTER
Market Overview TAMPA BAY OFFICE THIRD QUARTER 29 COLLIERS ARNOLD TAMPA BAY Insights on the Market OFFICE THIRD QUARTER 29 MARKET INDICATORS TAMPA BAY INVENTORY 8,58,612 Sq. Ft. Q3 Q4* OVERALL VACANCY
More informationVacancy Declines for Fifth Consecutive Quarter
Research & Forecast Report FAIRFIELD OFFICE Q1 Vacancy Declines for Fifth Consecutive Quarter > > Office Inventory: 5,056,025 > > Current Vacancy: 17. > > Net Absorption: +36,365 Solano and Napa counties
More information>> 2017 Begins With Continued Strong Demand
Research & Forecast Report Central Los Angeles OFFICE Q1 217 Accelerating success. >> 217 Begins With Continued Strong Demand Key Takeaways > Hudson Pacific's Icon at Sunset property delivered 323,3 square
More informationOrange County Industrial Continues Positive Momentum
INDUSTRIAL ORANGE COUNTY MARKET REPORT Orange County Industrial Continues Positive Momentum MARKET INDICATORS - VACANCY 2.9% AVAILABILTY 5.2% NET ABSORPTION 394,960 SF CONSTRUCTION 676,700 SF RENTAL RATE
More informationMarket Research. Market Indicators
colliers international LAS VEGAS, NV Market Research OFFICE Second Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q2-09 Q3-2009 Projected Clark County Economic Data UNEMPLOYMENT
More information>> Hollywood Market Activity Flattens
Research & Forecast Report Central Los Angeles OFFICE Q2 216 Accelerating success. >> Hollywood Market Activity Flattens Key Takeaways > There is currently 533,6 square feet () of office product under
More informationChanging of the Guard
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q1 2018 Changing of the Guard > > Office Inventory: 16,931,340 square feet > > Vacancy: 14.5 percent > > Net absorption: (88,606) square feet year-to-date
More informationOrange County Office Market Continues A Positive Stride Into 2016
OFFICE ORANGE COUNTY MARKET REPORT Continues A Positive Stride Into 2016 MARKET OVERVIEW MARKET INDICATORS - VACANCY 12.8% NET ABSORPTION 143,900 CONSTRUCTION 594,300 RENTAL RATE $2.31 P FSG UNEMPLOYMENT
More informationDubai House Price Index First Quarter 2016
Dubai House Price Index First Quarter 2016 Index Points Index Points Executive Summary Overview DUBAI HOUSE PRICE INDEX: QUARTER ON QUARTER The overall quarterly index registered no major change in Q1
More informationExecutive Summary. Overview DUBAI HOUSE PRICE INDEX: QUARTER ON QUARTER Q / Q4 2015
Dubai House Price Index Fourth Quarter 2015 Index Points Index Points Executive Summary Overview DUBAI HOUSE PRICE INDEX: QUARTER ON QUARTER The overall quarterly index registered a 3% decrease in Q4 2015,
More information>> Strong Sales Activity Persists in Second Quarter
Research & Forecast Report TRI-CITIES OFFICE Q2 217 Accelerating success. >> Strong Sales Activity Persists in Second Quarter Key Takeaways > Overall vacancy in the Tri-Cities office market decreased in
More informationIndustrial Market Review
Q1 2012 industrial Stockton San JoAquin County, California research & forecast Report Industrial Market Review Momentum built-up from 2011 carried the industrial market into its fifth consecutive quarter
More informationHISTORICAL VACANCY VS RENTS. Downtown Los Angeles Office Market Q Q RENTS VACANCY $31 2Q10 2Q11 2Q12 2Q13 2Q14
www.colliers.com/losangeles OFFICE LOS ANGELES MARKET REPORT Rate Decrease Below 20% As Market Activity Remains Flat MARKET OVERVIEW MARKET INDICATORS - VACANCY 19.5% The Downtown Los Angeles market in
More information>> Vacancy Rises With New Deliveries
Research & Forecast Report DOWNTOWN L.A. OFFICE Q1 217 Accelerating success. >> Rises With New Deliveries Key Takeaways > After seven consecutive quarters of declining or unchanged vacancy, the overall
More informationLeasing cools, but deal flow consistent
MARKETVIEW Downtown Manhattan Office, Q3 216 Leasing cools, but deal flow consistent Leasing Activity.85 MSF Net Absorption (.12) MSF Availability Rate 11.7 Vacancy Rate 9.3 Average Asking Rent $57.5 PSF
More information>> Greater Los Angeles Retail Ends 2016 With Mixed Results
Research & Forecast Report GREATER LOS ANGELES RETAIL Q4 2016 Accelerating success. >> Greater Los Angeles Retail Ends 2016 With Mixed Results Greater Los Angeles Retail Market The Los Angeles Basin retail
More informationGaining Traction Gradually in 2018
Research & Forecast Report RENO OFFICE Q1 2018 Gaining Traction Gradually in 2018 >> Overall vacancy increased slightly to 12.3% >> Negative net absorption of 13,792 square feet >> Rental rates remained
More informationLegal Industry: Bigger No Longer Better
MARKET REPORT DISTRICT OF COLUMBIA OFFICE First Quarter 2017 Legal Industry: Bigger No Longer Better After a strong end to 2016, leasing activity in the beginning of 2017 started with a whimper. Just two
More information>> South Bay Continues Momentum To Start 2017
Research & Forecast Report South Bay OFFICE Q1 2017 Accelerating success. >> South Bay Continues Momentum To Start 2017 Key Takeaways > Although leasing velocity dropped from 2016, demand from that period
More informationDISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline.
RESEARCH MARKET REPORT DISTRICT OF COLUMBIA OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 DC Development: No Signs
More informationSecond Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers
Q2 2013 OFFICE SUBURBAN MARYLAND SUBURBAN MARYLAND MARKET REPORT Second Quarter: Suburban Maryland s Uptick in has yet to be Realized in Numbers Updated May 2012 MARKET INDICATIONS Q2 2013 Q3 2013 (p)
More information>> South Bay Market Hits 9-Year High in Demand
Research & Forecast Report South Bay OFFICE Q3 2016 Accelerating success. >> South Bay Market Hits 9-Year High in Demand Key Takeaways > The El Segundo/Beach Cities submarket once again led the South Bay
More information