Downtown Los Angeles Ends 2014 With Momentum

Size: px
Start display at page:

Download "Downtown Los Angeles Ends 2014 With Momentum"

Transcription

1 office downtown LOS ANGELES market report Downtown Los Angeles Ends 2014 With Momentum Market overview MARKET indicators - VACANCY 19.5% NET ABSORPTION 174,900 CONSTRUCTION 464,340 RENTAL RATE $35.77 P UNEMPLOYMENT 7.9% The Downtown Los Angeles market in the fourth quarter 2014 finished the year with some momentum as net absorption recorded at a positive 174,900 square feet (). The total overall vacancy rate decreased to 19.5% from 20.0% in the previous quarter; a 50 basis point decrease. As landlords position their building product for possible sale and some buildings have traded hands, it has reflected in increasing asking rental rates, and this quarter was no exception. Direct weighted average asking rents recorded an increase to $35.77 per square foot (P) in the fourth quarter 2014 compared to $33.84 P one year ago. New leasing activity in the fourth quarter of 2014 reflected the market s newfound momentum, recording 572,692 relative to 291,926 in the third quarter of Closed sales activity in the fourth quarter was active, as Beacon sold two properties and Morgan Stanley made a late move on 550 S Hope. The Aon Center sold to Shorenstein Properties from Beacon Properties for $268,520,000 ($242 P), 600 Wilshire Blvd sold to Onni Group from Beacon Properties for $78,000,000 ($251 P), and 550 S Hope traded to Morgan Stanley from LBA Realty for an undisclosed price. Figueroa Courtyard is under contract to sell to Rising Realty Partners from US Bank in the first quarter of MARKET trends - >> Total vacancy decreases to 19.5% from 20.0% >> Weighted average asking rental rate equates to $35.77 P >> Leasing activity at 572,692 >> Absorption of 174,900 recorded >> Construction activity at 464,340 $ P FSG PER ANNUM (WEIGHTED) HISTORICAL VACANCY VS RENTS Q RENTS VACANCY $38 $37 $36 $35 $34 $33 $32 $31 $30 4Q10 4Q11 4Q12 4Q13 4Q14 30% 25% 20% 15% 10% % VACANT (TOTAL) HISTORICAL net absorption & Construction COMPLETIONS Q ,000 0 (100,000) () (300,000) NET ABSORPTION CONSTRUCTION COMPLETIONS (400,000) 4Q10 4Q11 4Q12 4Q13 4Q14 1 Colliers International continuously refines its database. As a result, data reflected in this report may not be consistent with data reported in previous quarters.

2 market Report OFFICE LOS ANGELES los angeles DEMOGRAPHICS >> Population: 10,063,995 (2014 Estimate) 10,423,669 (2019 Projection) 3.57% (Growth ) >> Household income: $75,972 (Average) $53,125 (Median) >> Job growth: 2.5% (past 12 months) >> Unemployment rate: 7.9% (as of November 2014) VACANCY The total vacancy rate, including sublet space decreased to 19.5% compared to 20.0% last quarter, a 50 basis point decrease. A longer historical perspective of the total vacancy rate shows that the vacancy rate a year ago stood at 19.7%. Total vacancy rates were highest in the Financial District submarket (27.2%) and lowest in the South Park submarket (11.5%). rates were highest for Class B space (21.7%) and lowest for Class A space (18.0%) with Class C space in-between at 19.9%. NET ABSORPTION Net absorption was positive for the first time in the last 7 quarters, recording 174,900 square feet, but it did not come without a caveat. The main driver was the unforeseen move by Lewis Brisbois Bisgaard & Smith LLP to US Bank Tower due to fire damage at 221 N Figueroa St from the DaVinci Complex fire. Without this, Q4 absorption would have been negative, albeit still higher than third quarter. Still, the best performing submarket in the fourth quarter was the Financial District submarket, recording positive 652,100 square feet of net absorption. In addition to the Lewis Brisbois Bisgaard & Smith LLP move, Deloitte completed its move to the Gas Company Tower from 350 S Grand. The Bunker Hill submarket was the only submarket in Downtown Los Angeles to record negative net absorption at -590,000 square feet, which is not surprising given the aformentioned Financial District movements. Both South Park (57,000 ) and Greater Downtown (55,800 ) recorded positive absorption. The overall year-to-date net absorption for the Downtown Los Angeles market recorded at -111,000. UNEMPLOYMENT November 2014 figures for nonfarm employment in Los Angeles County showed a recovering job market. Over the past 12 months, Los Angeles County has gained 113,300 jobs for an increase of 2.5 percent. This gain in employment led to the unemployment lowering to 7.9% compared to 9.1% one year ago. Year-over-year job gains were most significant in Educational and Health Services (+22,900) and Professional and Business Services (+21,800). VACANCY BY SUBMARKET NET ABSORPTION BY SUBMARKET 30% SUBLEASE VACANCY DIRECT VACANCY 0.2% 800, , ,100 25% 400,000 % VACANT 20% 15% 10% 5% 0.1% 11.3% 0.3% 12.9% 26.9% 0.0% 18.4% 0 () (400,000) (600,000) (590,000) 57,000 55,800 0% SOUTH PARK BUNKER HILL FINANCIAL (800,000) BUNKER HILL SOUTH PARK FINANCIAL p. 2 Colliers International

3 market Report OFFICE LOS ANGELES office OVERVIEW EXISTING PROPERTIES VACANCY ACTIVITY ABSORPTION CONSTRUCTION RENTS Submarket/ Class Bldgs Total Inventory Direct Sublease Total Total Prior Qtr Leasing Activity Current Qtr Leasing Activity YTD Net Absorption Current Qtr Net Absorption YTD Completions Current Qtr Under Construction Weighted Avg Asking Lease Rate FINANCIAL A 9 9,732, % 0.0% 15.1% 20.2% 361, , , , ,140 $40.44 B 25 8,388, % 0.1% 22.2% 24.0% 86, , , , $31.74 C 2 326, % 0.0% 19.8% 21.8% 13,214 28,241 6,400 19, $25.14 Subtotal 36 18,447, % 0.0% 18.4% 22.0% 460, , , , ,140 $35.38 BUNKER HILL A 6 7,221, % 0.2% 24.2% 20.5% 34,616 81,901 (264,600) (508,700) 0 0 $39.21 B 4 537, % 0.0% 67.7% 6.7% 0 29,490 (328,100) (328,000) 0 0 $36.00 C 1 370, % 1.0% 27.2% 27.9% 0 36,503 2,700 16, $25.01 Subtotal 11 8,129, % 0.2% 27.2% 19.4% 34, ,894 (590,000) (820,400) 0 0 $38.05 SOUTH PARK A 2 1,144, % 0.0% 3.3% 5.7% 0 55,704 26,700 21, ,500 $38.43 B 7 1,850, % 0.2% 16.4% 17.4% 28, ,668 17,200 (86,200) 0 0 $32.41 C 2 266, % 0.0% 11.9% 16.8% 10,694 26,944 13,100 40, $30.00 Subtotal 11 3,261, % 0.1% 11.5% 13.2% 39, ,316 57,000 (24,800) 0 78,500 $32.82 B 6 1,828, % 0.4% 11.3% 13.3% 38, ,040 36,400 42, ,700 $29.06 C 8 592, % 0.0% 19.1% 22.4% 0 37,552 19, $24.57 Subtotal 14 2,420, % 0.3% 13.2% 15.5% 38, ,592 55,800 45, ,700 $27.44 MARKET TOTAL A 17 18,098, % 0.1% 18.0% 19.4% 395, , ,000 77, ,640 $39.76 B 42 12,605, % 0.2% 21.7% 20.4% 153, ,478 (129,700) (264,700) 0 29,700 $32.19 C 13 1,555, % 0.2% 19.9% 22.6% 23, ,240 41,600 76, $25.39 Total 72 32,258, % 0.1% 19.5% 20.0% 572,692 1,405, ,900 (111,000) 0 464,340 $35.77 Colliers International p. 3

4 market Report OFFICE LOS ANGELES >> Leasing activity increased 96% compared to third quarter 2014 >> Looking ahead, landlords are expected to continue to offer large concession packages >>Year to date office demand is negative overall; the fourth quarter s momentum is a positive sign for the market, but the sheer volume of absorption and leasing activity should be taken as an aberration CONSTRUCTION No new projects were delivered to the market in fourth quarter; however there is currently 464,340 square feet of office space under construction/renovation. These include 221 N Figueroa St (307,552 ), which will come back to market in late 2015 after being renovated for fire damage and the 356,140 square feet of Class A office space that is part of the Wilshire Grand Tower development. This is the largest project under construction and will be operated by InterContinental Hotel & Resorts. The development is expected to deliver in Creative space conversions continue to accumulate, as the 78,500 square foot office building at 425 W 11th St in South Park and the 29,700 square foot building at 353 S Broadway in Greater Downtown are expected to be completed by the second half of For proposals, the Fourth and Traction development at 963 E 4th will be converted to 150,000 of creative office space. Shorenstein s Seventh and Santa Fe redevelopment is also slated to break ground in 2015 with 271,000. activity New leasing activity during fourth quarter totaled 572,692 square feet compared to 291,926 square feet in third quarter 2014, a 96% increase. Legal, financial services and engineering firms continue to account for a large portion of the leasing activity. The leasing highlights were Lewis Brisbois Bisgaard & Smith LLP leasing 215,230 square feet at 633 W 5th St, Oaktree Capital Management, L.P. renewing/expanding to 182,088 square feet at 333 S Grand Ave, and Colony Capital leasing 54,510 square feet at 515 S Flower St. In creative news, WeWork signed for more than a third of 811 W 7th St, taking 44,500 square feet. rental rates As landlords position their building product for possible sale and anticipate a faster recovery for the market, it has reflected in increasing asking rental rates. Overall annual average asking rental rates for fourth quarter recorded at $35.77 P, a 2% increase from last quarter at $35.09 P. Average asking rents were highest in the Bunker Hill submarket ($38.05 P) and lowest in Greater Downtown submarket ($27.44 P). Class A asking rents were $39.76 P compared to Class B at $32.19 P and Class C at $25.39 P. WEIGHTED AVERAGE ASKING LEASE RATES BY SUBMARKET LEASING ACTIVITY BY SUBMARKET $ P PER ANNUM (FSG) $40 $35 $30 $25 $20 $15 $10 $38.05 $35.38 $32.82 $ , , , , , , , , ,916 $5 50,000 38,021 39,139 34,616 $0 BUNKER HILL FINANCIAL SOUTH PARK 0 SOUTH PARK BUNKER HILL FINANCIAL p. 4 Colliers International

5 market Report OFFICE LOS ANGELES Outlook Larger tenants in the Downtown Los Angeles market will continue to have many options as there remains many large blocks of space over 50,000 square feet and larger. In regards to building sales, investment activity is expected to remain very active from overseas investors and buyers looking to take advantage of the economic market recovery and low interest rates. Downtown Los Angeles landlords are exploring more effective ways to attract technology and entertainment users as creative space demands continue to grow. This has already been seen in the Arts District from industrial space conversions to creative office space. market description Downtown LA is a moderately large office market comprised of 32.5 million square feet, representing 11% of the total office space over 25,000 square feet in the LA Basin. Approximately 52% of the space in this market was built prior to 1980, and is considered relatively old by Southern California standards. Downtown Los Angeles is the most dense market in the region with only one percent of the space contained within low-rise buildings, while 24% and 75% of the space are in mid-rise and high-rise structures, respectively. Downtown includes a large concentration of firms from the legal, utilities, accounting and financial services sectors, and is home to many federal, state, and local government agencies as well. HISTORICAL LEASING ACTIVITY Q UNEMPLOYMENT RATE United States, California & Los Angeles County November ,000, , ,000 3,500, , % 8.0% 7.0% 7.1% 7.9% 3,000, , % 5.5% 500,000 2,500, , % 4.0% 2,000, , % 1,500, , % 1.0% 1,000,0000 4Q08 4Q10 4Q09 4Q11 4Q10 4Q12 4Q11 4Q13 4Q124Q14 0.0% United States California Los Angeles County RECENT TRANSACTIONS & MAJOR DEVELOPMENTS SALES ACTIVITY PROPERTY ADDRESS SIZE SALE PRICE PRICE P BUYER SELLER 707 Wilshire Blvd, Los Angeles 1,110,000 $268,520,000 $242 P Shorenstein Properties, LLC Beacon Capital Partners 600 Wilshire Blvd, Los Angeles 311,160 $78,000,000 $251 P Onni Real Estate LLC Beacon Capital Partners 550 S Hope St, Los Angeles 590,207 TBD TBD Morgan Stanley & Co. LLC LBA Realty LEASING ACTIVITY PROPERTY ADDRESS LEASED LEASE TYPE BLDG TYPE LESSEE LESSOR 633 W 5th St, Los Angeles 215,230 New A Lewis Brisbois Bisgaard & Smith LLP OUE 333 S Grand Ave, Los Angeles 182,088 Renewal A Oaktree Capital Management, L.P. Brookfield Office Properties 515 S Flower St, Los Angeles 54,510 New A Colony Capital CommonWealth Partners Management 811 W 7th, Los Angeles 44,500 New B WeWork Sorgente Group 555 S Flower St, Los Angeles 35,720 New A White & Case CommonWealth Partners Management MAJOR DEVELOPMENTS PROJECT DEVELOPER SIZE SUBMARKET STATUS ESTIMATED COMPLETION 900 Wilshire Blvd, Los Angeles Hanjin International Corp 356,140 Financial District Under Construction Q N Figueroa St, Los Angeles The City of Los Angeles 307,552 Greater Downtown Under Renovation Q W 11th St, Los Angeles Lincoln Property Company 78,500 South Park Under Renovation Q S Broadway, Los Angeles Flatiron Development Co LLC 29,700 Greater Downtown Under Renovation Q E 4th St, Los Angeles Atlas Capital Group, LLC 150,000 Greater Downtown Proposed TBD 2060 E 7th St, Los Angeles Shorenstein Properties, LLC 271,000 Greater Downtown Proposed TBD Colliers International p. 5

6 market Report OFFICE LOS ANGELES DEFINITIONS OF KEY TERMS USED IN THIS REPORT Total Rentable Square Feet: Office space in buildings with 25,000 or more of speculative office space. Includes competitive space in Class A, B and C singletenant and multi-tenant buildings. Excludes non-competitive owner-occupied buildings, buildings that include 30% or greater of medical or retail space, and space that is underconstruction, under-renovation or off-market. Net Absorption: Net change in occupied square feet from one period to the next (includes the impact of change in vacant space available for sublease). Leasing Activity: Square feet leased from all known transactions completed during the quarter. Excludes lease renewals. 485 offices in 63 countries on 6 continents United States: 143 Canada: 42 Latin America: 20 Asia Pacific: 195 EMEA: 85 >> $2.1 billion in annual revenue >> 1.46 billion square feet under management >> Over 15,800 professionals Class A Space: Space that an image-conscious company would lease for its headquarters. Typically, this space has a very high level of finish and an excellent location, and commands the highest rents in the market. Class B Space: Highly functional, attractive space, but less prestigious than Class A Space, and commanding lower rental rates. Class C Space: Functional, competitive space, but with a lower level of finish and/or a less desirable location than with Class B Space, and commanding lower rental rates. Low-Rise: Buildings with a total of 4 floors or less. Mid-Rise: Buildings with a total of 5 to 13 floors. High-Rise: Buildings with 14 or more floors. Direct : Space in existing buildings that is vacant and immediately available during the quarter for direct lease, plus space that is vacant but not available for direct lease or sublease (for example, that is being held for a future commitment). Total : Space in existing buildings that is vacant and immediately available during the quarter for direct lease or for sublease, plus space that is vacant but not available for direct lease or sublease. Weighted Average Asking Rental Rates: Weighted by the total square feet available for direct lease. Data is based on Full Service Gross rents, and includes all costs associated with occupying the space, including taxes, insurance, maintenance, janitorial service and utilities. Reported on a monthly, per basis. Space Added (Net): Total square feet added during the quarter via construction completions, including renovated space returned to market, less total square feet taken off-market due to demolitions or conversions. Under Construction: Includes buildings that are in some phase of construction, beginning with foundation work and ending with the issuance of a Certificate of Occupancy. Technical Note Colliers International is continuously refining its database. The data shown in the historical tables and graphics in this report have been adjusted to take into account these changes in the database. This report has been prepared by Colliers International for general information only. Information contained herein has been obtained from sources deemed reliable and no representation is made as to the accuracy thereof. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This report and other research materials may be found on our website at united states: Downtown Los Angeles Office License No S. Figueroa Street, Suite 3500 Los Angeles, CA tel FAX ALGERMISSEN, STEPHEN Executive BAER, CHRISTOPHER Executive BISSELL, BRENT Associate DUMONT, CHRIS Senior DWIGHT, TIM Associate KIRK, TERENCE MARADEI, GREG MATTESON, CAITLIN Research Director Research Services MUMPER, HANS Executive Managing Director PELLOW, NATHAN Senior PUTNAM, RICK Managing Director Western Region Capital Markets ROBBINS, JAMES Associate SCHNELL, RICHARD C. Senior STANICH, KYLE Associate TARCZYNSKI, MARK Executive TISCHER, ADAM TUSZYNSKI, GREG VILGIATE, NICO Executive WALKER, SHADD G. Senior WOODS, RANDALL WONG, CHRISTOPHER Regional Analyst Research Services Accelerating success. p. 6 Colliers International

HISTORICAL VACANCY VS RENTS. Downtown Los Angeles Office Market Q Q RENTS VACANCY $31 2Q10 2Q11 2Q12 2Q13 2Q14

HISTORICAL 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

Positive Leasing Activity and Increasing Rents for Downtown Los Angeles

Positive Leasing Activity and Increasing Rents for Downtown Los Angeles office downtown LOS ANGELES market report Positive Leasing Activity and Increasing Rents for Downtown Los Angeles Market overview MARKET indicators - VACANCY 18.8% NET ABSORPTION -44,700 CONSTRUCTION 771,892

More information

Slow Start to the Year as Hollywood Awaits Construction Deliveries

Slow Start to the Year as Hollywood Awaits Construction Deliveries office CENTRAL LOS ANGELES market report Slow Start to the Year as Hollywood Awaits Construction Deliveries Market overview MARKET indicators - VACANCY 19.1% NET ABSORPTION 24,300 CONSTRUCTION 1,242,600

More information

The Market Is Energized By Increased Development In Hollywood

The Market Is Energized By Increased Development In Hollywood OFFICE CENTRAL LOS ANGELES MARKET REPORT The Market Is Energized By Increased Development In Hollywood MARKET OVERVIEW MARKET INDICATORS - VACANCY 20.5% NET ABSORPTION 24,100 CONSTRUCTION 574,000 RENTAL

More information

Negative Absorption And Sharp Rise In Total Vacancy to Begin 2014

Negative Absorption And Sharp Rise In Total Vacancy to Begin 2014 OFFICE TRI-CITIES MARKET REPORT Negative Absorption And Sharp Rise In Total to Begin 214 MARKET OVERVIEW MARKET INDICATORS - VACANCY 19.4% NET ABSORPTION -154,9 CONSTRUCTION 155, RENTAL RATE $2.63 P UNEMPLOYMENT

More information

Tri-Cities Sees Increased Leasing Activity and Climbing Rents

Tri-Cities Sees Increased Leasing Activity and Climbing Rents OFFICE TRI-CITIES MARKET REPORT Tri-Cities Sees Increased Leasing Activity and Climbing Rents MARKET OVERVIEW MARKET INDICATORS - The Tri-Cities office market recorded 165, square feet () of positive absorption

More information

San Fernando Valley and Ventura County Witness Declining Vacancy

San Fernando Valley and Ventura County Witness Declining Vacancy OFFICE SAN FERNANDO & VENTURA MARKET REPORT San Fernando Valley and Ventura County Witness Declining MARKET OVERVIEW The San Fernando Valley and Ventura County office market saw total vacancy decrease

More information

Positive Net Absorption Recorded For The Ninth Consecutive Quarter

Positive Net Absorption Recorded For The Ninth Consecutive Quarter OFFICE SAN FERNANDO & VENTURA MARKET REPORT Positive Net Absorption Recorded For The Ninth Consecutive Quarter MARKET OVERVIEW MARKET INDICATORS - VACANCY 15.2% NET ABSORPTION 116,700 CONSTRUCTION 120,933

More information

West Los Angeles Marks Ten Consecutive Quarters Of Positive Market Activity

West Los Angeles Marks Ten Consecutive Quarters Of Positive Market Activity office market report West Los Angeles Marks Ten Consecutive Quarters Of Positive Market Activity Market overview MARKET indicators - VACANCY 12.9% NET ABSORPTION 84,900 CONSTRUCTION 549,665 RENTAL RATE

More information

San Fernando Valley & Ventura County End 2015 On A Positive Note

San Fernando Valley & Ventura County End 2015 On A Positive Note OFFICE SAN FERNANDO & MARKET REPORT San Fernando Valley & Ventura County End 2015 On A Positive Note MARKET OVERVIEW MARKET INDICATORS - VACANCY 15.4% NET ABSORPTION 74,400 CONSTRUCTION 120,933 RENTAL

More information

Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities

Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities OFFICE TRI-CITIES MARKET REPORT Strong Marketwide Leasing Activity Points To A Strong Finish for Tri-Cities MARKET OVERVIEW MARKET INDICATORS - VACANCY 14.9% NET ABSORPTION 254,6 CONSTRUCTION 113,8 RENTAL

More information

Negative Absorption Recorded For The First Time In Past Nine Quarters

Negative Absorption Recorded For The First Time In Past Nine Quarters OFFICE SAN FERNANDO & VENTURA MARKET REPORT Negative Absorption Recorded For The First Time In Past Nine Quarters MARKET OVERVIEW MARKET INDICATORS - VACANCY 15.6% NET ABSORPTION -124,000 CONSTRUCTION

More information

West LA Continues To Present Strong Market Activity At Year-End

West LA Continues To Present Strong Market Activity At Year-End OFFICE MARKET REPORT West LA Continues To Present Strong Market Activity At Year-End MARKET OVERVIEW MARKET INDICATORS - VACANCY 13.1% NET ABSORPTION 388,900 CONSTRUCTION 549,665 RENTAL RATE $3.70 P FSG

More information

>> Hollywood Market Activity Flattens

>> 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 information

>> 2017 Begins With Continued Strong Demand

>> 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 information

South Bay Experiences Slow and Steady Market Activity

South Bay Experiences Slow and Steady Market Activity OFFICE SOUTH BAY MARKET REPORT South Bay Experiences Slow and Steady Market Activity MARKET OVERVIEW MARKET INDICATORS - VACANCY 21.4% NET ABSORPTION -68,500 CONSTRUCTION 210,000 RENTAL RATE $2.08 FSG

More information

>> Market Records Strong Demand To End 2016

>> Market Records Strong Demand To End 2016 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

More information

Postive Demand and Robust Leasing Fuels Tri-Cities Market

Postive Demand and Robust Leasing Fuels Tri-Cities Market Q4 215 office tri-cities market report Postive Demand and Robust Leasing Fuels Tri-Cities Market Market overview MARKET indicators - Q4 215 VACANCY 14.4% NET ABSORPTION 127,7 CONSTRUCTION 167,8 RENTAL

More information

Orange County Office Market Continues to Tighten Causing Rental Rates to Increase

Orange County Office Market Continues to Tighten Causing Rental Rates to Increase OFFICE ORANGE COUNTY MARKET REPORT Continues to Tighten Causing Rental Rates to Increase MARKET OVERVIEW MARKET INDICATORS - VACANCY 12.6% NET ABSORPTION 688,800 CONSTRUCTION 497,387 RENTAL RATE $2.26

More information

>> Vacancy Stabilizes As Rents Rise To End 2016

>> Vacancy Stabilizes As Rents Rise To End 2016 Research & Forecast Report DOWNTOWN L.A. OFFICE Q4 216 Accelerating success. >> Stabilizes As Rents Rise To End 216 Key Takeaways > After six consecutive quarters of declines, the overall vacancy rate

More information

>> Downtown LA Carries Momentum Into 2018

>> Downtown LA Carries Momentum Into 2018 Research & Forecast Report DOWNTOWN L.A. OFFICE Accelerating success. >> Downtown LA Carries Momentum Into 218 Key Takeaways > Demand momentum carried over from last quarter into the new year, rising from

More information

Orange County Office Market Continues A Positive Stride Into 2016

Orange 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 information

South Bay Records Nine Straight Quarters of Rate Increases

South Bay Records Nine Straight Quarters of Rate Increases 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

More information

>> 2016 Off to A Good Start for Tri-Cities

>> 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 information

>> Vacancy Rises With New Deliveries

>> 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 information

Orange County Office Market Continues to Tighten As Vacancy Decreases

Orange County Office Market Continues to Tighten As Vacancy Decreases OFFICE ORANGE COUNTY MARKET REPORT Continues to Tighten As Decreases MARKET OVERVIEW MARKET INDICATORS - VACANCY 13.5% NET ABSORPTION 101,500 CONSTRUCTION 497,387 RENTAL RATE $2.21 P FSG UNEMPLOYMENT 4.2%

More information

RENTS VACANCY $2.10 2Q11 2Q12 2Q13 2Q14 2Q15

RENTS VACANCY $2.10 2Q11 2Q12 2Q13 2Q14 2Q15 office Greater LOS ANGELES basin market report Los Angeles Basin Rental Rates Continue to Climb as Declines EXECUTIVE SUMMARY MARKET indicators - VACANCY 15.5% NET ABSORPTION +1,292,3 CONSTRUCTION 3,646,791

More information

San Fernando Valley & Ventura County Industrial Market $0.48 1Q11 1Q12 1Q13 1Q14 1Q15

San Fernando Valley & Ventura County Industrial Market $0.48 1Q11 1Q12 1Q13 1Q14 1Q15 industrial SAN FERNANDO VALLEY & VENTURA COUNTY market report Rents Continue To Rise As Vacancy Rate Continues To Decrease Market overview MARKET indicators - VACANCY 2.9% AVAILABILITY 5.2% NET ABSORPTION

More information

>> Orange County Market Gains Positive Momentum

>> 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 information

Orange County Industrial Continues Positive Momentum

Orange 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 information

>> Orange County Rents Increase to Start 2017

>> 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

>> Orange County Vacancy Continues to Decline

>> 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 information

Positive Net Absorption Recorded For The Fourth Consecutive Quarter

Positive Net Absorption Recorded For The Fourth Consecutive Quarter OFFICE SAN FERNANDO & MARKET REPORT Positive Net Absorption Recorded For The Fourth Consecutive Quarter MARKET OVERVIEW MARKET INDICATORS - VACANCY 16.7% NET ABSORPTION 25,4 CONSTRUCTION 12,3 RENTAL RATE

More information

>> Vacancy Continues to Decline While Rents Rise

>> Vacancy Continues to Decline While Rents Rise Research & Forecast Report DOWNTOWN L.A. OFFICE Accelerating success. >> Continues to Decline While Rents Rise Key Takeaways > continued its gradual descent for the sixth straight quarter, recording at

More information

RENTS VACANCY $2.10 1Q11 1Q12 1Q13 1Q14 1Q15

RENTS VACANCY $2.10 1Q11 1Q12 1Q13 1Q14 1Q15 office Greater LOS ANGELES basin market report Rising Rents and Positive Absorption Lead to Tightening Market Conditions EXECUTIVE SUMMARY MARKET indicators - VACANCY 15.7% NET ABSORPTION +487,5 CONSTRUCTION

More information

>> South Bay Market Hits 9-Year High in Demand

>> 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

South Bay Records Robust Investment Sales Amid Strong Demand

South Bay Records Robust Investment Sales Amid Strong Demand office SOUTH BAY market report South Bay Records Robust Investment Sales Amid Strong Demand Market overview MARKET indicators - VACANCY 20.5% NET ABSORPTION 295,000 CONSTRUCTION 365,300 RENTAL RATE $2.24

More information

>> New Construction Delivers to the Orange County Office Market

>> 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 information

>> Strong Sales Activity Persists in Second Quarter

>> 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 information

Los Angeles Basin Retail Market Witnessed A Slight Increase In Vacancy Rates

Los Angeles Basin Retail Market Witnessed A Slight Increase In Vacancy Rates RETAIL GREATER LOS ANGELES BASIN MARKET REPORT Witnessed A Slight Increase In Vacancy Rates MARKET INDICATORS - VACANCY 6.2% NET ABSORPTION -551,200 CONSTRUCTION 1,946,000 RENTAL RATE $1.96 P NNN UNEMPLOYMENT

More information

Los Angeles Basin Retail Market Continues To Witness Decreasing Vacancy Rates

Los Angeles Basin Retail Market Continues To Witness Decreasing Vacancy Rates RETAIL GREATER LOS ANGELES BASIN MARKET REPORT Continues To Witness Decreasing Vacancy Rates MARKET INDICATORS - VACANCY 6.0% NET ABSORPTION 1,605,200 CONSTRUCTION 2,111,970 RENTAL RATE $2.03 P NNN UNEMPLOYMENT

More information

>> Vacancy Drops As Rents Continue To Rise

>> Vacancy Drops As Rents Continue To Rise 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

More information

Los Angeles Basin Retail Market Continues To Witness Decreasing Vacancy Rates

Los Angeles Basin Retail Market Continues To Witness Decreasing Vacancy Rates RETAIL GREATER LOS ANGELES BASIN MARKET REPORT Continues To Witness Decreasing Vacancy Rates MARKET INDICATORS - VACANCY 6. NET ABSORPTION 588,800 CONSTRUCTION 3,312,470 RENTAL RATE $2.04 P NNN UNEMPLOYMENT

More information

South Bay Leasing Activity Reaches 4-Year High as El Segundo Stays Hot

South Bay Leasing Activity Reaches 4-Year High as El Segundo Stays Hot office SOUTH BAY market report South Bay Leasing Activity Reaches 4-Year High as El Segundo Stays Hot Market overview MARKET indicators - VACANCY 21.3% NET ABSORPTION 192,700 The South Bay office market

More information

>> West L.A. Maintains Momentum To Start Year

>> West L.A. Maintains Momentum To Start Year Research & Forecast Report West Los Angeles OFFICE Accelerating success. >> West L.A. Maintains Momentum To Start Year Key Takeaways > The average asking monthly rent for West Los Angeles rose to $4.63

More information

HISTORICAL VACANCY VS RENTS $1.75 2Q10 2Q11 2Q12 2Q13 2Q14

HISTORICAL VACANCY VS RENTS $1.75 2Q10 2Q11 2Q12 2Q13 2Q14 www.colliers.com/greaterlosangeles RETAIL GREATER LOS ANGELES BASIN MARKET REPORT Vacancy Decreases and Net Absorption Increases From Previous Quarter MARKET INDICATORS - VACANCY 6. NET ABSORPTION 732,000

More information

>> Asking Rents Increase As Space Remains Limited

>> 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 information

Vacancy Net Absorption Construction Rental Rate. Vacancy Rate 1.7% Change from Q3 17 (Basis Points) -20 BPS. Construction Completions

Vacancy Net Absorption Construction Rental Rate. Vacancy Rate 1.7% Change from Q3 17 (Basis Points) -20 BPS. Construction Completions Forecast Vacancy Net Absorption Construction Rental Rate Vacancy Rate 1.7% Change from Q3 17 (Basis Points) -2 BPS Net Absorption 394,4 Construction Completions 191,7 Average Asking Rent Change from Q3

More information

Six Consecutive Quarters Of Positive Absorption As Asking Rents Increase

Six Consecutive Quarters Of Positive Absorption As Asking Rents Increase OFFICE GREATER LOS ANGELES BASIN MARKET REPORT Six Consecutive Quarters Of Positive Absorption As Asking Rents Increase EXECUTIVE SUMMARY MARKET INDICATORS - VACANCY 15.3% NET ABSORPTION +789,2 CONSTRUCTION

More information

>> South Bay Continues Momentum To Start 2017

>> 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 information

>> Negative Net Absorption Despite Completions

>> 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 information

>> Rents Rise To Highest Point Ever

>> Rents Rise To Highest Point Ever Research & Forecast Report SAN FERNANDO VALLEY & VENTURA COUNTY INDUSTRIAL Accelerating success. >> Rents Rise To Highest Point Ever Key Takeaways > Asking rental rates rose $.2 P NNN to $.69 P NNN. Rents

More information

>> Greater Los Angeles Retail Ends 2016 With Mixed Results

>> 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 information

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy Research & Forecast Report GREATER LOS ANGELES RETAIL Accelerating success. >> Greater Los Angeles Retail Continues to Witness Declining Vacancy Greater Los Angeles Retail Market The Los Angeles Basin

More information

>> Greater Los Angeles Retail Starts 2017 At A Slow Pace

>> Greater Los Angeles Retail Starts 2017 At A Slow Pace Research & Forecast Report GREATER LOS ANGELES RETAIL Q1 2017 Accelerating success. >> Greater Los Angeles Retail Starts 2017 At A Slow Pace Greater Los Angeles Retail Market The Los Angeles Basin retail

More information

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy

>> Greater Los Angeles Retail Continues to Witness Declining Vacancy Research & Forecast Report GREATER LOS ANGELES RETAIL Accelerating success. >> Greater Los Angeles Retail Continues to Witness Declining Vacancy Greater Los Angeles Retail Market The Los Angeles Basin

More information

HISTORICAL VACANCY VS RENTS. San Fernando Valley & Ventura County Industrial Market RENTS VACANCY 1Q10 1Q11 1Q12 1Q13 1Q14

HISTORICAL VACANCY VS RENTS. San Fernando Valley & Ventura County Industrial Market RENTS VACANCY 1Q10 1Q11 1Q12 1Q13 1Q14 INDUSTRIAL SAN FERNANDO VALLEY & VENTURA COUNTY MARKET REPORT Positive Demand For Space Leads To A 4.% Vacancy Rate MARKET OVERVIEW MARKET INDICATORS - VACANCY 4.% AVAILABILTY 6.7% NET ABSORPTION +531,8

More information

>> Vacancy Falls To Lowest Rate Ever

>> 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

>> Deliveries Mute Demand While Rents Rise

>> Deliveries Mute Demand While Rents Rise Research & Forecast Report GREATER L.A. OFFICE Accelerating success. >> Deliveries Mute Demand While Rents Rise Key Takeaways > The Greater Los Angeles Basin office market posted positive demand of 1,018,100

More information

Newly Completed Buildings Quickly Sold or Leased As Tight Market Continues

Newly Completed Buildings Quickly Sold or Leased As Tight Market Continues industrial San Gabriel Valley market report Newly Completed Buildings Quickly Sold or Leased As Tight Market Continues Market overview MARKET indicators - VACANCY 1.8% AVAILABILTY 3.7% NET ABSORPTION 16,500

More information

>> Greater Los Angeles Retail Starts 2016 On a Positive Note

>> Greater Los Angeles Retail Starts 2016 On a Positive Note Research & Forecast Report GREATER LOS ANGELES RETAIL Accelerating success. >> Greater Los Angeles Retail Starts 2016 On a Positive Note Greater Los Angeles Retail Market The Los Angeles Basin retail market

More information

Vacancy Net Absorption Construction Rental Rate. Vacancy Rate 2.5% Change from Q2 17 (Basis Points) +30 BPS. GLA Industrial Market.

Vacancy Net Absorption Construction Rental Rate. Vacancy Rate 2.5% Change from Q2 17 (Basis Points) +30 BPS. GLA Industrial Market. Q4 2017 Forecast Vacancy Net Absorption Construction Rental Rate Vacancy Rate 2.5% Change from Q2 17 (Basis Points) +30 BPS Net Absorption 4,787,900 SF Construction Completions 11,127,200 SF Under Construction

More information

>> West L.A. Rent Growth Climbs into Second Half

>> West L.A. Rent Growth Climbs into Second Half Research & Forecast Report WEST LOS ANGELES OFFICE Accelerating success. >> West L.A. Rent Growth Climbs into Second Half Key Takeaways > The average asking monthly rent for West Los Angeles rose to $4.74

More information

2015 Continues With Strong Industrial Demand & Increased Build To Suit Activity

2015 Continues With Strong Industrial Demand & Increased Build To Suit Activity industrial INLAND EMPIRE market report 2015 Continues With Strong Industrial Demand & Increased Build To Suit Activity MARKET indicators - VACANCY 4.3% AVAILABILITY 6.2% NET ABSORPTION 6.9 Million CONSTRUCTION

More information

>> Overall Market Vacancy Rises to Begin 2017

>> Overall Market Vacancy Rises to Begin 2017 Research & Forecast Report GREATER L.A. OFFICE Accelerating success. >> Overall Market Rises to Begin 2017 Key Takeaways > The Greater Los Angeles Basin office market recorded negative net absorption for

More information

>> Tight Market Condions & Rising Rents

>> Tight Market Condions & Rising Rents Research & Forecast Report GREATER L.A. INDUSTRIAL Accelerating success. >> Tight Market Condions & Rising Rents Key Takeaways > The Greater Los Angeles Basin industrial market absorbed 6,025,000 SF of

More information

>> Construction Boom Continues Into 2016

>> Construction Boom Continues Into 2016 Research & Forecast Report GREATER L.A. INDUSTRIAL Accelerating success. >> Construction Boom Continues Into 2016 Key Takeaways > The Greater Los Angeles Basin industrial market delivered 6,099,400 SF

More information

>> Heightened Investment Activity Highlights Year End

>> Heightened Investment Activity Highlights Year End Research & Forecast Report South Bay OFFICE Accelerating success. >> Heightened Investment Activity Highlights Year End Key Takeaways > Leasing activity fell year-over-year by 23.5%, the fourth consecutive

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES NORTH OFFICE FOURTH QUARTER 217 QUICK STATS Direct Vacancy 11.8% Overall Vacancy 12.5% Lease Rate FSG $2.75 Gross Absorption Under Construction MARKET TRENDS Current Quarter 1,6,941 SF 89,158

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES SAN GABRIEL VALLEY OFFICE SECOND QUARTER 218 QUICK STATS Direct Vacancy 11.1% Overall Vacancy 11.4% Lease Rate FSG $2.32 Gross Absorption Under Construction MARKET TRENDS Current Quarter 345,68

More information

Market Research. Market Indicators

Market 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 information

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION Q4 2013 MARYLAND OFFICE MARYLAND OFFICE MARKET REPORT FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARKET SUMMARY Updated April 2013 MARKET INDICATORS Q4 2013 Q1 2014* VACANCY

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES CENTAL/SOUTHEAST OFFICE THIRD QUARTER 218 QUICK STATS Direct Vacancy 14.7% Overall Vacancy 15.2% Lease Rate FSG $3.16 Gross Absorption Under Construction MARKET TRENDS Change from Last Quarter

More information

Market Research. OFFICE First Quarter 2010

Market 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 information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS ORANGE COUNTY OFFICE THIRD QUARTER 217 QUICK STATS Direct Vacancy 12.1% Overall Vacancy 12.9% Lease Rate FSG $2.61 Gross Absorption Under Construction MARKET TRENDS Current Quarter 2,479,293 SF 379, SF

More information

Office Stays Positive

Office 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 information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS INLAND EMPIRE OFFICE THIRD QUARTER 217 QUICK STATS Direct Vacancy 11.4% Overall Vacancy 11.7% Lease Rate FSG $1.83 Gross Absorption Under Construction MARKET TRENDS Current Quarter 529,634 SF 45,24 SF

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS ORANGE COUNTY INDUSTRIAL FOURTH QUARTER 217 QUICK STATS Direct Vacancy 2.3% Overall Vacancy 2.7% Lease Rate NNN $.91 Gross Absorption Under Construction MARKET TRENDS Current Quarter 4,283,991 SF 963,138

More information

Time for Retail to Take Stock

Time for Retail to Take Stock 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

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS VENTURA COUNTY OFFICE THIRD QUARTER 217 QUICK STATS Direct Vacancy 13.9% Overall Vacancy 14.3% Lease Rate FSG $2.25 Gross Absorption Under Construction MARKET TRENDS Current Quarter 34,43 SF 18,112 SF

More information

RESEARCH & FORECAST REPORT

RESEARCH & FORECAST REPORT Q3 2014 INDUSTRIAL STOCKTON SAN JOAQUIN COUNTY, CALIFORNIA RESEARCH & FORECAST REPORT Vacancies Continue to Decline to Historic Lows Vacancy rates for San Joaquin County industrial space fell to pre-great

More information

Shrinking Supply Continues To Push Rates

Shrinking 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 information

Vacancy Increased Slightly During the First Quarter

Vacancy 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 information

RESEARCH & FORECAST REPORT

RESEARCH & 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

RESEARCH & FORECAST REPORT

RESEARCH & FORECAST REPORT 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

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS. Current Quarter. Direct Vacancy 2.

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS. Current Quarter. Direct Vacancy 2. LOS ANGELES NORTH INDUSTRIAL THIRD QUARTER 218 QUICK STATS Direct Vacancy 2.3% Overall Vacancy 2.6% Lease Rate NNN $1.1 Gross Absorption Under Construction MARKET TRENDS Current Quarter 1,632,564 SF 595,199

More information

Second Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers

Second 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

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS. Current Quarter. Direct Vacancy 2.

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS. Current Quarter. Direct Vacancy 2. ORANGE COUNTY INDUSTRIAL SECOND QUARTER 218 QUICK STATS Direct Vacancy 2.2% Overall Vacancy 2.5% Lease Rate NNN $.95 Gross Absorption Under Construction MARKET TRENDS Current Quarter 2,956,71 SF 1,367,18

More information

2018: A Ground Breaking Year

2018: 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 information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS PHOENIX, ARIZONA INDUSTRIAL THIRD QUARTER 217 QUICK STATS Direct Vacancy 8.7% Overall Vacancy 9.% Lease Rate NNN $.54 Gross Absorption Under Construction MARKET TRENDS Current Quarter 5,991,128 SF 4,751,494

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS VENTURA COUNTY INDUSTRIAL FOURTH QUARTER 217 QUICK STATS Direct Vacancy 2.1% Overall Vacancy 2.4% Lease Rate NNN $.7 Gross Absorption Under Construction MARKET TRENDS Current Quarter 1,332,957 SF 774,362

More information

Market Research. Market Indicators

Market 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

Industrial Market Review

Industrial 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 information

MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX

MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX SOUTHERN CALIFORNIA & PHOENIX COMMERCIAL REAL ESTATE MARKET FOURTH QUARTER 217 MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX 1.888.659.DAUM WWW.DAUMCOMMERCIAL.COM D/AQ Corp. # 1129558 DAUM TABLE OF CONTENTS

More information

East Los Angeles Flex Office with Abundant Parking For Sale 5128 VALLEY BOULEVARD & 2262 BEATIE PLACE LOS ANGELES, CA 90032

East Los Angeles Flex Office with Abundant Parking For Sale 5128 VALLEY BOULEVARD & 2262 BEATIE PLACE LOS ANGELES, CA 90032 East Los Angeles Flex Office with Abundant Parking For Sale 5128 VALLEY BOULEVARD & 2262 BEATIE PLACE LOS ANGELES, CA 90032 Colliers Brokerage NATHAN PELLOW Executive Vice President License No. 01215721

More information

2.8% 2.0% $811M. 2017: A Solid Year for the Metro Denver Office Sector HIGHLIGHTED METRO DENVER OFFICE. Market Report Q ECONOMIC TRENDS

2.8% 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 information

RESEARCH & FORECAST REPORT

RESEARCH & FORECAST REPORT Q4 INDUSTRIAL FAIRFIELD: SOLANO & NAPA COUNTIES CALIFORNIA RESEARCH & FORECAST REPORT MARKET INDICATORS Q4-13 Projected Q1-14 Industrial Market Review Wine Industry Growth Inspires Development was one

More information

Office Market Continues to Improve

Office 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 information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS INLAND EMPIRE INDUSTRIAL FOURTH QUARTER 217 QUICK STATS Direct Vacancy 5.1% Overall Vacancy 5.3% Lease Rate NNN $.57 Gross Absorption Under Construction MARKET TRENDS Current Quarter 9,23,744 SF 16,31,563

More information

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY

MARKET REPORT FIRST QUARTER Positive Absorption and Weak Leasing the Story of the First Quarter Q SUBURBAN MARYLAND OFFICE MARKET SUMMARY Q1 2015 SUBURBAN MARYLAND OFFICE SUBURBAN MARKET REPORT MARYLAND Q1 2015 OFFICE SUBURBAN MARYLAND OFFICE MARKET REPORT FIRST QUARTER 2015 Positive Absorption and Weak Leasing the Story of the First Quarter

More information