1 Q OFFICE MINNEAPOLIS-ST. PAUL OFFICE MARKET REPORT Major tenant contractions and impending corporate development set the stage for 2014 and beyond SF Absorbed Percent Vacant MARKET INDICATORS Q VACANCY NET RENTAL RATE VACANCY 25% 20% 16.3% 16.8% 17.2% 16.7% 16.1% 15.6% 15.2% 15.3% 14.9% 15% 10% 5% Q1 NET 2,000,000 1,500, , ,1691 1,000, , , , , ,756 48,596 0 (500,000) (312,099) (1,000,000) (1,500,000) (1,661,963) (2,000,000) Q1 VACANCY AND TRENDS The vacancy rate in the -St. Paul office market decreased from 15.6 at year-end 2013 to 15.3 percent as of Quarter One of After negative absorption during Quarter Four of 2013, there continues to be limited absorption in the market saw over 981,000 square feet of absorption, and there was 503,756 square feet of absorption in 2013, most of which occurred in the first half of the year. There is steady activity, although absorption was low, but positive, at 48,596 square feet. MARKET HIGHLIGHTS Contributing to slow absorption is the trend of users downsizing, or right sizing, their space rather than expanding. We continue to track a list of large companies that have signed new leases, renewed for less space, or made the decision to relocate out of multi-tenant space into their own facilities. Joining the list is TCF Bank, which recently announced it will be vacating approximately 250,000 square feet at the TCF Tower and TCF Bank Building in the. Add in Dorsey & Whitney, Campbell Mithun, Xcel Energy, CenterPoint Energy, and Wells Fargo, and the reduction in occupied multi-tenant space reaches over 1.6 million square feet in the in 2014 and In the east metro, Lawson Software, Comcast, and US Bank will contract their space use by over 200,000 combined square feet and Be the Match will be moving out of 180,000 square feet at Broadway Ridge in the St. Paul/Suburban submarket to move into a new building in the North Loop. In Eden Prairie, UnitedHealth Group is building an over 1.4 million square foot campus and in the process will be moving out of multi-tenant space throughout the West and Southwest submarkets. In addition to the trend toward downsizing and efficient space use, tenants are seeking open floor plans, abundant natural light, fewer enclosed offices, and high ceilings. This is true throughout the market, but holds particular weight in the. The Ackerberg Group is taking over management of the 122-year-old, 50 percent vacant McKesson building in the North Loop with plans to upgrade the building. At the TractorWorks Building, also in the North Loop, City Center Realty Partners and Angelo Gordon & Co. purchased the property in 2008, invested to upgrade the building, brought occupancy up significantly and were able to sell the property at a premium during the first quarter of 2014 to Goldman Sachs. And, 510 Marquette was the first skyway-connected building in the core to completely renovate to meet popular office trends. The building went from zero to 85 percent occupied in nine months. Tenants were attracted to the high ceilings and exposed brick.
2 Q1 Q1 VACANCY SF Absorbed 172, , ,000 0 (100,000) 4,249 38,038 (40,831) (72,887)(68,925) 16,557 % Vacant % 13.3% 15.4% 19.8% 15.8% 12.4% 24% (200,000) Southwest St. Paul St. Paul Suburban West Northwest 5 Southwest St. Paul St. Paul Suburban West Northwest Additional market highlights include: > Hillcrest Development continues to move forward with its plans to redevelop Pentagon Park into office, retail, and hotel space, and is considering residential space in later phases. Existing leases at the complex have landlord termination options, but it is not likely any office construction would go forward without some preleasing. > The Ackerberg Group s 65,000-square-foot Mozaic office building in Uptown is now fully leased, and the company is planning a larger, 185,000-square-foot second phase called Mozaic East with plans to break ground sometime in > The Mall of America broke ground on the next phase of development which includes parking, retail, hotel, and plans for 175,000 square feet of office space. > The I-394 corridor is still tight, particularly among Class A properties closest to Interstate 394 at or between the Carlson Center offices and the West End development. > Comcast renewed its lease at River Park Plaza in St. Paul for 10 years and has plans to renovate it, making for more efficient use of their space and reducing their occupancy from 164,000 square feet to 125,000 square feet. > Kraus Anderson, in a joint venture with Florida-based Elion Partners, is planning a redevelopment of the State Farm headquarters. The plan calls for 300,000 square feet of construction and the reuse of the existing 400,000-square-foot building on the site. They are looking at attracting a hotel chain, retail and medical tenants. The group hasn t purchased the property yet but has the site under contract. The building has been vacant for more than seven years. > Goldman Sachs bought the 350,000-squarefoot TractorWorks building and attached parking lot for $26.8 million. This price is considered premium for the North Loop area and puts it on par with properties that have sold recently in the core. > Ryan Companies closed on the purchase of land owned by the Star Tribune where they are planning Downtown East, a $400 million mixed-use project that includes office space for Wells Fargo. It was also recently announced that the Star Tribune will be moving to the Park Building at Capella Tower. Comcast renewed its lease at River Park Plaza in St. Paul; the company has plans to renovate the space, make it more efficient, and reduce their occupancy level by almost 40,000 square feet.
3 Wells Fargo will purchase and occupy the two 17-story office towers at Downtown East, Ryan Companies mixed-use development and urban park/plaza near the new Vikings Stadium. Source: Ryan Companies FORECAST Future development will continue to be concentrated among build-to-suit projects, redevelopment of existing buildings, and infill development in urban areas. We expect continued interest in the redevelopment of older properties in order to take advantage of key aesthetics such as high ceilings and exposed beams and brick. The pool of potential buildings where this type of reuse is possible is shrinking as conversions from office to residential and renovations of existing office space continue. Looming vacancies, like the Wells Fargo move in the and the United Healthcare move in the West and Southwest, will continue over the next few years. By including the other companies from this report that are reducing their occupied square footage, we are forecasting a significant amount of vacant space coming to the market, which will contribute negatively to absorption. The strongest market conditions will continue to be in the West and among Class A properties in prime locations. Landlords at these properties are already holding to their asking rates and in some cases increasing rates. As tenants continue to downsize and large blocks of space are released into the market in future years, it remains to be seen if continued rental rate increases are sustainable. TCF recently announced it will be moving from the to the suburbs, consolidating its operations at Plymouth Corporate Center. It will be moving out of the TCF Tower and TCF Building, two adjoined Class B buildings. The properties are in the same vicinity as two properties Wells Fargo occupies, Baker Block and Northstar Buildings. Wells Fargo is planning to move many of its workers into 1.2 million square feet at the Downtown East development. The TCF Tower property will remain as office space, but the owner of the buildings, Franklin Street, is looking at possibilities for redevelopment of the TCF Building, including residential or hotel uses.
4 SIGNIFICANT LEASE AND SALES ACTIVITY LEASE ACTIVITY TENANT BUILDING NAME ADDRESS CITY SUBMARKET SIZE (SF) TCF Bank Plymouth Corporate Center 1405 Xenium Land N Plymouth West/Northwest 330,000 Comcast (renewal) 10 River Park Plaza 10 River Park Plaza St. Paul St. Paul 125,000 Larkin Hoffman 8300 Normandale 8300 Norman Center Dr Bloomington Southwest 48,902 RedBrick Health 510 Marquette 510 Marquette Ave 46,113 UBS IDS Center 80 South 8th St 30,071 Microsoft (renewal) Wells Fargo Place 30 7th St St. Paul St. Paul 12,000 Solve 9 South 12th St 9 South 12th St 7,500 SALES ACTIVITY BUILDING ADDRESS CITY BUYER SELLER SUBMARKET... PRICE PRICE PSF SIZE (SF) TractorWorks 800 Washington Ave N Goldman Sachs City Center Realty Partners $54,800,000 $ ,000 Minnesota Center 7760 France Ave S Bloomington Transwestern LNR Partners Southwest $31,000,000 $ ,425 Woodlake Centre Anchor Bank Building Brookdale Corporate Center III American National Can Building Woodhill Plaza Lyndale Ave S Richfield Woodlake Partners LLC Woodlake - VEF IV LLC Galaxie Ave Apple Valley Thomas C. Kite Valley Real Estate 6160 Summit Drive Brooklyn Center th Ave SE State Highway 7 Minnetonka Grand Oak Center 2815 Dodd Ave Eagan 6110 Blue Circle Drive Edina Business Center 6110 Blue Circle Drive 7710 Computer Ave Minnetonka Edina Atwater Group JV Swervo Development & CPEC Exchange LLC Lake West Development LLC Grand Oak Partners LLC Waba Financial Hillcrest Development Wings Financial Federal Credit Union Curwood Inc. Hempel Bremer Bank Blue Circle Partnership West/ Northwest West/ Northwest $20,300,000 $ ,000 $6,220,000 $138 45,186 $4,480,000 $43 104,063 $3,000,000 $15 200,000 $2,750,000 $46 59,844 $1,600,000 $52 30,920 Southwest $1,350,000 $39 34,339 Crown Bank LLC Southwest $1,200,000 $53 22,500
5 Market Statistics SUBMARKET TOTAL SF DIRECT VACANT SF % VACANT DIRECT SUBLEASE VACANT SF % VACANT W/SUBLEASE 1ST QUARTER Q1 RENTAL RATES QUOTED NET RENTAL RATES AIRPORT/SOUTH OF THE RIVER A 1,787, , % 9, % 106, ,152 $12.60 B 3,515, , % 5, % 50,885 50,885 $11.63 C 1,248, , % 0 9.9% 15,363 15,363 $10.64 Totals: 6,551,656 1,001, % 14, % 172, ,400 $11.63 MINNEAPOLIS A 12,854,246 1,335, % 347, % (19,126) (19,126) $16.73 B 10,842,899 1,859, % 185, % (67,445) (67,445) $12.09 C 3,951, , % 23, % 90,815 90,815 $9.98 Totals: 27,648,490 3,670, % 556, % 4,244 4,244 $12.90 YTD QUOTED NET SOUTHWEST A 9,473,521 1,308, % 87, % 43,430 43,430 $15.16 B 5,751,919 1,013, % 49, % (62,714) (62,714) $11.70 C 926, , % % (21,547) (21,547) $10.17 Totals: 16,152,115 2,491, % 137, % (40,831) (40,831) $13.42 ST PAUL A 2,128, , % 24, % (78,534) (78,534) $12.64 B 5,016,179 1,210, % 9, % (16,329) (16,329) $10.64 C 831,936 49, % 4, % 21,976 21,976 $8.00 Totals: 7,976,782 1,577, % 37, % (72,887) (72,887) $11.21 ST. PAUL SUBURBAN A 2,895, , % 20, % (26,846) (26,846) $13.96 B 6,319, , % % (16,712) (16,712) $10.89 C 2,165, , % % (25,367) (25,367) $9.14 Totals: 11,380,215 1,799, % 20, % (68,925) (68,925) $11.79 WEST/NORTHWEST A 5,402, , % 94, % 44,995 44,995 $15.28 B 5,752,829 1,140, % 23, % (22,042) (22,042) $11.91 C 2,077, , % % 31,642 31,642 $7.48 Totals: 13,232,828 2,151, % 118, % 54,595 54,595 $12.55 WEST A 4,038, , % 76, % 38,061 38,061 $16.91 B 4,013, , % 19, % (29,316) (29,316) $12.43 C 761,893 61, % 0 8.1% 29,293 29,293 $7.80 Totals: 8,813,981 1,089, % 96, % 38,038 38,038 $13.30 NORTHWEST A 1,364, , % 18, % 6,934 6,934 $13.41 B 1,738, , % 3, % 7,274 7,274 $10.61 C 1,315, , % % 2,349 2,349 $7.15 Totals: 4,418,847 1,062, % 21, % 16,557 16,557 $11.27 TOTAL ALL MARKETS A 34,542,405 4,619, % 583, % 70,071 70,071 $14.82 B 37,198,371 6,792, % 272, % (134,357) (134,357) $11.60 C 11,201,310 1,279, % 27, % 112, ,882 $9.41 Totals: 82,942,086 12,691, % 883, % 48,596 48,596 $12.47 The above table is summarized data on multi-tenant office buildings greater than 20,000 square feet. Not included are single-tenant, owner-occupied, medical or government buildings.
6 Market Statistics (EXPANDED MARKET) SUBMARKET TOTAL SF DIRECT VACANT SF % VACANT DIRECT SUBLEASE VACANT SF % VACANT W/SUBLEASE 1ST QUARTER YTD QUOTED NET RENTAL RATES AIRPORT/SOUTH OF THE RIVER A 3,972, , % 9, % 111, ,999 $12.74 B 6,415,657 1,006, % 5, % 57,605 57,605 $11.86 C 2,954, , % 4, % 20,700 20,700 $10.64 Totals: 13,342,528 2,060, % 19, % 190, ,304 $11.89 MINNEAPOLIS A 13,618,828 1,337, % 347, % (18,796) (18,796) $16.73 B 12,193,458 1,893, % 185, % (67,445) (67,445) $11.97 C 5,888, , % 23, % 90,815 90,815 $9.98 Totals: 31,700,971 3,705, % 556, % 4,574 4,574 $12.83 SOUTHWEST A 11,321,141 1,352, % 194, % 641, ,615 $14.98 B 7,636,921 1,147, % 63, % (88,348) (88,348) $11.64 C 3,232, , % % (15,121) (15,121) $10.10 Totals: 22,190,636 3,103, % 258, % 538,146* 538,146 $13.16 ST PAUL A 2,773, , % 24, % (78,534) (78,534) $14.45 B 5,953,723 1,210, % 9, % (16,329) (16,329) $10.58 C 3,002,535 77, % 6, % 21,976 21,976 $8.00 Totals: 11,730,218 1,611, % 40, % (72,887) (72,887) $11.67 ST. PAUL SUBURBAN A 4,332,783 1,108, % 20, % 4,174 4,174 $14.03 B 10,506,558 1,150, % 10, % (3,693) (3,693) $10.87 C 7,384, , % 0 4.3% (31,474) (31,474) $9.21 Totals: 22,224,333 2,574, % 30, % (30,993) (30,993) $11.71 WEST/NORTHWEST A 7,074, , % 97, % 45,933 45,933 $15.18 B 9,180,819 1,252, % 120, % (16,024) (16,024) $11.71 C 5,172, , % 0 5.3% 13,433 13,433 $9.23 Totals: 21,428,066 2,417, % 217, % 43,342 43,342 $12.58 TOTAL ALL MARKETS A 43,093,879 5,588, % 693, % 706, ,391 $14.72 B 51,887,136 7,661, % 394, % (134,234) (134,234) $11.53 C 27,635,737 2,223, % 34, % 100, ,329 $9.71 Totals: 122,616,752 15,473, % 1,122, % 672, ,486 $12.43 The above table is summarized data on multi- and single-tenant office buildings greater than 10,000 square feet. Owner-occupied properties are also included. Not included are government or medical buildings. *Includes 598,400 square feet of absorption at Tower 1 and 2 of UnitedHealth Group s newly-constructed campus in Eden Prairie.
7 MARKET REPORT Q OFFICE MINNEAPOLIS-ST. PAUL
8 485 offices in 63 countries $2.1 billion USD in annual revenue 15,800 professionals and staff 1.46 billion* square feet under management $75 billion USD in total transaction value * Square footage includes office, industrial and retail property under management. Residential property is excluded from this total. All statistics are for St. Paul 4350 Baker Road, Suite 400 Minnetonka, MN DIRECT Accelerating success.
Q4 2013 OFFICE MINNEAPOLIS-ST. PAUL OFFICE MARKET REPORT Minneapolis-St. Paul Office Market Stalls During the Fourth Quarter VACANCY AND ABSORPTION TRENDS MARKET INDICATORS Q4 2013 After absorbing almost
Q3 2014 office minneapolis-st. paul office market report Vacancy Continues to Decrease; Tenants Flocking to Space that Dovetails Recent Office Trends market indicators Q3 2014 VACANCY NET ABSORPTION rental
Research & Forecast Report > MINNEAPOLIS-ST. PAUL Office Q1 2018 Strong Leasing Velocity Points to a Positive Office Market Vacancy and Absorption Trends The first quarter of 2018 brought a total multi-tenant
Q2 2015 OFFICE MINNEAPOLIS-ST. PAUL OFFICE MARKET REPORT Strong activity continues in the office market for both leasing and sales SF Absorbed Percent Vacant MARKET INDICATORS Q2 2015 VACANCY NET ABSORPTION
Research & Forecast Report MINNEAPOLIS-ST. PAUL OFFICE Quarter 2 2016 Steady activity in the office market Rising taxes, operating expenses push up leasing costs Vacancy and absorption trends The vacancy
Q4 2013 INDUSTRIAL MINNEAPOLIS-ST. PAUL INDUSTRIAL MARKET REPORT Absorption Positive But Slower in the Second Half of the Year; Premier Properties Thriving While Less Functional Buildings Languish MARKET
Research & Forecast Report MINNEAPOLIS-ST. PAUL OFFICE Quarter 2, 2017 Market hot spots continue to drive majority of activity Vacancy and absorption trends Quarter Two of 2017 saw a slight drop in vacancies
Minneapolis, MN 4th Quarter 2014 OFFICE Market Trends COMMERCIAL REAL ESTATE INFORMATION Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set 2 Minneapolis Office Market
4505 White Bear Parkway WHITE BEAR LAKE MINNESOTA Mike Brass Vice President Direct 952 837 3054 firstname.lastname@example.org Offering Overview THE OFFERING Colliers International Minneapolis-St. Paul ( Broker
The CoStar Office Report T h i r d Q u a r t e r 2 0 1 4 Third Quarter 2014 Minneapolis Table of Contents Table of Contents................................................................. A Methodology......................................................................
Bakersfield the higher cost of leasing in the submarket is unlikely to hinder demand as CRC s lease expirations create more available inventory within the University Centre Submarket. Mark J. Smith, SIOR
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
Hoffman Corners Retail Center II 1654-1658 COUNTY ROAD E EAST, VADNAIS HEIGHTS MINNESOTA Mike Brass Vice President Direct 952 837 3054 email@example.com Offering Overview THE OFFERING Colliers International
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
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
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
CHICAGO SUBURBS Office Market Report Net Absorption (1,919,191) Availability 24.1% Big Moves Create Negative Absorption Driving s Higher MARKET CONDITIONS: The suburbs had several major real estate occurrences
O F F I C E Minneapolis/St. Paul Towle Report 2003 MARKET OVERVIEW HIGHLIGHTS Negative six-month absorption of 1.4 million sq. ft. spiked the overall vacancy to 17.6% by yearend. The majority of the losses
Q1 2013 RETAIL LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Time for Retail to Take Stock It is heartening to say, after five years of a bad economy, that the first quarter of 2013 s 119,649 square feet
Page Summary The Take Away The first quarter of 2017 was marked by continued optimism through multiple Texas metros as job growth remained positive and any negatives associated with declining oil prices
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
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
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
Metropolitan DC Market Overview 4Q 214 Overall Market Summary The Washington, DC Metropolitan commercial real estate market is comprised of approximately 41.9 million square feet of rentable office space
Chicago Market Facts 5.3% Chicago s unemployment rate continued to trend downward. Recorded at 5.3% as of February 2017. 17 MSF The number of completed projects increased to 5.1 msf and projects currently
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
Research & Forecast Report Central Los Angeles OFFICE Q4 216 Accelerating success. >> Market Records Strong Demand To End 216 Key Takeaways > There is currently 61,4 square feet () of office product under
The CoStar Office Report Y E A R - E N D 2 0 0 8 YEAR-END 2008 PHOENIX Table of Contents Table of Contents.................................................................... A Methodology........................................................................
The CoStar Office Report T H I R D Q U A R T E R 2 0 1 2 THIRD QUARTER 2012 PHOENIX Table of Contents Table of Contents.................................................................... A Methodology........................................................................
TRANSWESTERN OUTLOOK DC AT Q1O8 Even With Soft Office Absorption, Vacancy Remains Low; Rents Continue to Edge Up The District of Columbia s office market experienced steady conditions during the 1st quarter
Colliers International Indiana Region THIRD QUARTER 2011 INDUSTRIAL MARKET REPORT Q3 2011 INDUSTRIAL COLLIERS INTERNATIONAL INDIANA REGION RESEARCH & FORECAST REPORT High Occupancy Levels Lead to Large
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
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
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
$ PSF Office May 2017 New York Monthly Market Update Strong year continues with high-profile leasing; rents remain flat as new and returning space looms Manhattan Class A asking rents Manhattan Class A
Q2 2018 PHOENIX OFFICE REPORT MARKET FUNDAMENTALS ANNUAL COMPARISON Q2 2018 Q2 2017 VACANCY 16.47% VACANCY 16.93% RENTAL RATES $25.43 RENTAL RATES $24.76 SF UNDER CONSTRUCTION 2.76 M SF UNDER CONSTRUCTION
11 Office Property Owners Invest in Renovating Older Product to Class A; Vacancy Edges Up as Rents Edge Down; Investment Sales Strong and Net Absorption Notable The District of Columbia office market experienced
INDIANAPOLIS OFFICE Economic Indicators Market Indicators (Direct, All Classes) Direct Net Absorption/Direct Asking Rent 4-QTR TRAILING AVERAGE Direct Vacancy Q3 17 Q3 18 MSA Employment 1.05M 1.07M MSA
office SOUTH BAY market report South Bay Records Nine Straight Quarters of Rate Increases Market overview MARKET indicators - VACANCY 20.0% NET ABSORPTION 210,400 CONSTRUCTION 365,300 RENTAL RATE $2.27
Washington DC Market Office Report Market Overview The Office Market The Washington Office Market includes the District of Columbia and adjacent suburban submarkets in Maryland and Virginia. The Washington
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
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
Miami-Dade County Retail Market Report 3Q 216 Real Capital Partners Real Estate Services *Data Source CoStar Miami-Dade County Retail Market Report 3Q 216 Miami-Dade County Retail Market Report Overview
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
Office March 2017 New York Monthly Market Update Leasing activity remains strong through February; Downtown off to best start in years Manhattan Class A Asking Rents Manhattan Class A Vacancy Rents $100.00
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
Second Quarter 2017 Office Market Report Chicago CBD Market Facts 4.1% Chicago s unemployment rate continued to trend downward, standing at 4.1% as of May 2017. 34,400 jobs The Chicago metro area added
Monthly Market Update December 2015 New York City Office Outlook February 2016 M A N H A T T A N Class A Asking Rents M A N H A T T A N Class A Vacancy Rates $100.00 Jan-14 Jan-15 Jan-16 20.0% Jan-14 Jan-15
Research & Forecast Report South Bay OFFICE Q3 2017 Accelerating success. >> Drops As Rents Continue To Rise Key Takeaways > Leasing activity fell year-over-year by 17.8%, the third consecutive quarter
The office market in Milwaukee is in an exciting time. With the delivery of 833 East last quarter and the delivery of Meadowland Research & Technology Center this quarter, the office market is expanding
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
2016 FORT WAYNE, INDIANA OFFICE MARKET SURVEY 2016 REVIEW 2017 FORECAST PREPARED WITH THE ASSISTANCE OF New construction, renovation and relocation in downtown was the big story for the Fort Wayne office
CoStar Industrial Statistics Y e a r - E n d 2 0 1 7 McAllen/Edinburg/Pharr Industrial Market Year-End 2017 McAllen/Edinburg/Pharr Table of Contents Table of Contents.................................................................
Research & Forecast Report > MINNEAPOLIS-ST. PAUL RETAIL Q2 2018 Steady Midpoint Sets Stage for Major Change in Second Half of 2018 VACANCY AND ABSORPTION TRENDS The first half of 2018 has been relatively
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
RETAIL MARKET ANALYSIS Portland State University Despite the doom and gloom warnings of a retail apocalypse, the national story for retail is that things are stable. Nationwide vacancy is at 5.2 percent
2Q 17 Office Market Report Low vacancy rates and steady rental rates characterize the Portland office market Portland s office market has reached a level of strength not seen since the great recession.
OFFICE MARKET ANALYSIS GEOFF FALKENBERG Oregon Association of Realtors Fellow The Urban Land Institute ranked Portland 11th in the nation among Markets to Watch for real estate investment in 2014. Jones
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
3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT FORECAST The Richmond Industrial market continued trending in the positive direction in the third quarter, with the absorption of over 320,000 square
Q3 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Forges Ahead Southern Nevada s office market continued to post positive net absorption in the third quarter of 2012, despite weak employment
The CoStar Office Report Y E A R - E N D 2 0 0 9 YEAR-END 2009 SALT LAKE CITY Table of Contents Table of Contents.................................................................... A Methodology........................................................................
Miami-Dade County Office Market Report 4Q 216 Real Capital Partners Real Estate Services *Data Source CoStar Miami-Dade County Office Market Report 4Q 216 Miami-Dade County Office Market Report Overview
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
Metropolitan DC Market Overview 3Q 214 Overall Market Summary The Washington, DC Metropolitan commercial real estate market is comprised of approximately 41.5 million square feet of rentable office space
SHENANDOAH MARKET REPORT VALLEY Q1 2015 NORTH SHENANDOAH INDUSTRIAL VALLEY NORTH INDUSTRIAL MARKET REPORT FIRST QUARTER 2015 Market Ripe for Speculative Falling Demand for Obsolete Product Not Indicative
The Upstate, South Carolina Investment Progressing with Infrastructure and Manufacturing Expansions Following a trend started in 2015, net absorption remains positive, but has slowed pace in the last two
The Crossings, Lethbridge Market Study Update October 2012 Prepared for: City of Lethbridge Prepared by: MXD Development Strategists Ltd. www.mxddevelopment.com 0 Retail Market Update According to a 2012
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
1st Quarter 213 $25 Market Highlights With the impending move of Pinnacle leaving the market next quarter, the Memphis Office market was able to start the year on a positive note, posting nearly 67, SF
Broward County Office Market Remains Steady Amid Rising Rental Rates Due to Job Growth and New Development Strong economic fundamentals continue to fuel Broward County's office market due to consistent
CoStar Office Statistics Y e a r - E n d 2 0 1 7 McAllen/Edinburg/Pharr Office Market Year-End 2017 McAllen/Edinburg/Pharr Table of Contents Table of Contents.................................................................
CHICAGO INDUSTRIAL MARKET MONITOR THIRD QUARTER 2015 Chicago s industrial market thrives during the third quarter. Demand across the Chicago industrial market remains high sending absorption up and vacancy
3 RD QUARTER 2015 RICHMOND RETAIL MARKET REPORT FORECAST As 2015 winds down, the vacancy rates are approaching an all time low. Retail inventory is down causing an increase in construction with national
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
MARKETVIEW Boston Suburban Office, Q4 2015 Healthcare, Life Sciences and Technology Sectors Drive Q4 2015 Leasing Activity Vacancy 17.3% Availability 19.9% Absorption 87,036 SF Sublease 2.5 MSF Under Construction
ARROYO MARKET SQUARE Las Vegas Valley Executive Summary Retail Market 4th Quarter 2013 THE DISTRICT AT GREEN VALLEY RANCH January 23, 2014 Re: Commercial Real Estate Survey: 4th Quarter, 2013 Dear Reader,
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
-Dade County Office Report 1Q 216 Real Capital Partners Real Estate Services 1Q 216 -Dade County Office Report Overview -Dade County s Vacancy Increases to 1.4% Net Negative (11,64) SF in the Quarter The