3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT

Size: px
Start display at page:

Download "3 RD QUARTER 2016 RICHMOND INDUSTRIAL MARKET REPORT"

Transcription

1 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 feet. The market fundamentals remain strong as the vacancy rate continues to remain below historic averages. Despite the healthy absorption and low vacancy rate their remains to be a lack of quality product on the market or in the construction pipeline. Two spec industrial buildings have been announced, Devon USA 320,000± SF building in North lake and Becknell s second 200,000± SF building at the Airport Distribution Center, and construction is scheduled to commence late 4th quarter 2016 or 1st quarter New construction continues to primarily be driven by build to suit projects such as Niagara Bottling and Aldi in Dinwiddie and Meadowville Technology Park. As seen with the Niagara and Aldi BTS projects, companies continue to be forced farther away from the center of the metro area as a result of lack of quality product and land. As last mile logistics continues to grow, distribution and ecommerce users are looking for space closer to population centers. Central Virginia has multiple infill sites that are currently being underutilized and are poised for industrial redevelopment. As we move into 2017 development/ redevelopment of new class A industrial product will be vital to the growing market. 7.2% VACANCY 216,000 SF UNDER CONSTRUCTION 320,420 SF NET ABSORPTION $4.20 PSF AVERAGE RENTAL RATES MAIN OFFICE ADDRESS: 4198 Cox Road, Suite 200 Glen Allen, VA MAILING ADDRESS: P.O. Box Richmond, VA OFFICE LOCATIONS: Richmond Hampton Roads Nashville Jacksonville Greensboro Tampa

2 The Richmond, VA Industrial market ended the third quarter 2016 with a vacancy rate of 7.2%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 320,420 square feet in the third quarter. Vacant sublease space increased in the quarter, ending the quarter at 293,330 square feet. Rental rates ended the third quarter at $4.20, no change over the previous quarter. There was 216,000 square feet still under construction at the end of the quarter. ABSORPTION Net absorption for the overall Richmond VA Industrial market was positive 320,420 square feet in the third quarter That compares to positive 213,473 square feet in the second quarter 2016, positive 579,839 square feet in the first quarter 2016, and positive 22,463 square feet in the fourth quarter Tenants moving out of large blocks of space in 2016 include: Sonoco Products Company moving out of (260,654) square feet at 7001 Technology Blvd, ProLogix East moving out of (89,482) square feet at Interport Business Center - Building A, and Star International Furniture, Inc. moving out of (60,046) square feet at Woodlands Center III. Tenants moving into large blocks of space in 2016 include: Full Service Warehouse & Logistics, Inc. moving into 99,700 square feet at 1802 Jefferson Davis Highway, Shades of Light moving into 83,000 square feet at Shades of Light Building, and R1 International moving into 78,080 square feet at 1207 Gordon Avenue. The Flex building market recorded net absorption of positive 41,382 square feet in the third quarter 2016, compared to positive 148,482 square feet in the second quarter 2016, positive 61,936 in the first quarter 2016, and positive 6,231 in the fourth quarter The Warehouse building market recorded net absorption of positive 279,038 square feet in the third quarter 2016 compared to positive 64,991 square feet in the second quarter 2016, positive 517,903 in the first quarter 2016, and positive 6,231 in the fourth quarter VACANCY The Industrial vacancy rate in the Richmond VA market area decreased to 7.2% at the end of the third quarter The vacancy rate was 7.4% at the end of the second quarter 2016, 7.6% at the end of the first quarter 2016, and 7.8% at the end of the fourth quarter 2015.

3 Flex projects reported a vacancy rate of 9.8% at the end of the third quarter 2016, 10.2% at the end of the second quarter 2016, 11.3% at the end of the first quarter 2016, and 11.7% at the end of the fourth quarter Warehouse projects reported a vacancy rate of 6.9% at the end of the third quarter 2016, 7.1% at the end of second quarter 2016, 7.2% at the end of the first quarter 2016, and 7.4% at the end of the fourth quarter SUBLEASE VACANCY The amount of vacant sublease space in the Richmond VA market increased to 293,330 square feet by the end of the third quarter 2016, from 287,343 square feet at the end of the second quarter There was 382,724 square feet vacant at the end of the first quarter 2016 and 377,383 square feet at the end of the fourth quarter Richmond VA s Flex projects reported vacant sublease space of 15,385 square feet at the end of third quarter 2016, up from the 3,163 square feet reported at the end of the second quarter There were 7,804 square feet of sublease space vacant at the end of the first quarter 2016, and 3,163 square feet at the end of the fourth quarter Warehouse projects reported decreased vacant sublease space from the second quarter 2016 to the third quarter Sublease vacancy went from 284,180 square feet to 277,945 square feet during that time. There was 374,920 square feet at the end of the first quarter 2016, and 374,220 square feet at the end of the fourth quarter RENTAL RATES The average quoted asking rental rate for available Industrial space was $4.20 per square foot per year at the end of the third quarter 2016 in the Richmond VA market area. This represented a 0.0% change in quoted rental rates from the end of the second quarter 2016, when rents were reported at $4.20 per square foot. The average quoted rate within the Flex sector was $8.86 per square foot at the end of the third quarter 2016, while Warehouse rates stood at $3.60. At the end of the second quarter 2016, Flex rates were $8.81 per square foot, and Warehouse rates were $3.59. DELIVERIES AND CONSTRUCTION During the third quarter 2016, no new space was completed in the Richmond VA market area. This compares to one building totaling 21,600 square feet that were completed in the second quarter 2016, four buildings totaling 340,000 square feet completed in the first quarter 2016, and 38,800 square feet in three buildings completed in the fourth quarter There were 216,000 square feet of Industrial space under construction at the end of the third quarter Some of the notable 2016 deliveries include: Stone Brewing - Phase 1, a 200,000-square-foot facility that delivered in first quarter 2016 and is now 100% occupied, and Shades of Light Building, an 83,000-square-foot building that delivered in first quarter 2016 and is now 100% occupied. The only project under construction at the end of third quarter 2016 was Airport Distribution Center - Building E, a 216,000-square-foot building with 100% of its space preleased.

4 SALES ACTIVITY Tallying industrial building sales of 15,000 square feet or larger, Richmond VA industrial sales figures fell during the second quarter 2016 in terms of dollar volume compared to the first quarter of In the second quarter, five industrial transactions closed with a total volume of $10,244,350. The five buildings totaled 472,842 square feet and the average price per square foot equated to $21.67 per square foot. That compares to 13 transactions totaling $79,127,511 in the first quarter. The total square footage was 1,228,634 for an average price per square foot of $ Total year-to-date industrial building sales activity in 2016 is up compared to the previous year. In the first six months of 2016, the market saw 18 industrial sales transactions with a total volume of $89,371,861. The price per square foot has averaged $52.53 this year. In the first six months of 2015, the market posted 11 transactions with a total volume of $19,755,000. The price per square foot averaged $ Cap rates have been higher in 2016, averaging 8.00%, compared to the first six months of last year when they averaged 7.08%. One of the largest transactions that has occurred within the last four quarters in the Richmond VA market is the sale of Richmond Cold Storage in Richmond. This 182,659-square-foot industrial building sold for $23,200,000, or $ per square foot. The property sold on 2/10/2016, at a 0.00% cap rate.

5 SELECT TOP YEAR-TO-DATE DELIVERIES Property Name Sub- Market RBA Occupied Quoted Rate Ground Break Date Delivery Date Developer Stone Brewing - Phase 1 Southeast 200, % N/A 2nd Quarter st Quarter 2016 N/A Shades of Light Building Southwest 83, % N/A 2nd Quarter st Quarter 2016 Railey Hill Associates Airport St Dinwiddie County 41, % N/A 2nd Quarter st Quarter 2016 N/A 9830 Atlee Commons Drive Northeast 21,600 92% $8.00 4th Quarter nd Quarter 2016 N/A Groome Transportation Northwest 16, % N/A 3rd Quarter st Quarter 2016 N/A

6 The information and details contained herein have been obtained from third-party sources believed to be reliable; however, Commonwealth Commercial has not independently verified its accuracy. Commonwealth Commercial makes no representations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information and details provided herein, including but not limited to the implied warranty of suitability and fitness for a particular purpose. Interested parties should perform their own due diligence regarding the accuracy of the information. The information provided herein, including any sale or lease terms, is being provided subject to errors, omissions, changes of price or conditions, prior sale or lease, and withdrawal without notice. Third-party data sources: CoStar Group, Inc., Moody s Economy. com, Nielsen/Claritas, Real Capital Analytics, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, U.S. Census Bureau, Greater Richmond Partnership, U.S. Department of Commerce. The Commonwealth Commercial Industrial Market Report compiles relevant market data by using a third-party database for the proprietary analysis of specific industrial properties above 10,000 SF in the Richmond Metropolitan Area. Industrial Team Mark Claud T E mclaud@ Russell Wyatt T E rwyatt@ Fred Plaisted T E fplaisted@ Ben Bruni T E bbruni@ Middleton Smith T E msmith@

3 RD QUARTER 2015 RICHMOND INDUSTRIAL MARKET REPORT

3 RD QUARTER 2015 RICHMOND INDUSTRIAL MARKET REPORT 3 RD QUARTER FORECAST As the U.S. economy continued to show positive economic growth through the third quarter, the Richmond, VA Industrial market saw demand for warehouse and flex properties increase

More information

3 RD QUARTER 2015 RICHMOND RETAIL MARKET REPORT FORECAST 5.7% VACANCY 509,220 SF UNDER CONSTRUCTION 370,165 SF NET ABSORPTION

3 RD QUARTER 2015 RICHMOND RETAIL MARKET REPORT FORECAST 5.7% VACANCY 509,220 SF UNDER CONSTRUCTION 370,165 SF NET ABSORPTION 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

More information

3 RD QUARTER 2016 RICHMOND RETAIL MARKET REPORT FORECAST 5.3% VACANCY 349,524 SF UNDER CONSTRUCTION (137,905) SF NET ABSORPTION

3 RD QUARTER 2016 RICHMOND RETAIL MARKET REPORT FORECAST 5.3% VACANCY 349,524 SF UNDER CONSTRUCTION (137,905) SF NET ABSORPTION 3 RD QUARTER 2016 RICHMOND RETAIL MARKET REPORT FORECAST All signs indicate a stabilized market that continues to support well-located new development. The majority of absorption in the 3rd quarter was

More information

Miami-Dade County Office Market Report 4Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Office Market Report

Miami-Dade County Office Market Report 4Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Office Market Report 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

More information

2Q 16. Long Island Market Report

2Q 16. Long Island Market Report 2Q 16 Long Island Market Report Long Island Office 2Q 216 Long Island 2Q16 Office Office Report The Long Island Office market ended the second quarter 216 with a vacancy rate of 7.5%. The vacancy rate

More information

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report 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

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

Upstate, SC 2Q17. Industrial Market Report. Q2 Industrial. Upstate Economy in 2Q17* Industrial Sector in 2Q17. Trends for 2Q17

Upstate, SC 2Q17. Industrial Market Report. Q2 Industrial. Upstate Economy in 2Q17* Industrial Sector in 2Q17. Trends for 2Q17 Upstate, SC 2Q17 Industrial Market Report The industrial market for the Upstate of South Carolina saw continued growth for the second quarter of 217. While there was a positive net absorption of 67,53

More information

Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q

Solid 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 information

1Q 17. Long Island Market Report

1Q 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 information

HOUSTON INDUSTRIAL MARKET

HOUSTON INDUSTRIAL MARKET REAL ESTATE OUTLOOK HOUSTON INDUSTRIAL MARKET FIRST QUARTER 217 Industrial Sector Continues Push Forward Flex Market Softening under Pressure from Office Market Availability OV E R V I E W Industrial gains

More information

Chicago s industrial market thrives during the third quarter.

Chicago s industrial market thrives during the third quarter. 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

More information

Washington DC Market Office Report

Washington DC Market Office Report 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

More information

The CoStar Office Report

The CoStar Office Report 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........................................................................

More information

Chicago s industrial market thrives during the second quarter.

Chicago s industrial market thrives during the second quarter. Economic Overview CHICAGO INDUSTRIAL MARKET MONITOR SECOND QUARTER 2015 Chicago s industrial market thrives during the second quarter. Demand across the Chicago industrial market remains high sending absorption

More information

Monthly Market Snapshot

Monthly Market Snapshot SEPTEMBER 2018 Vacancy continues to fall. Nearing the end of the third quarter, the vacancy rate dropped 10 basis points to 6.4%, compared to this time last month at 6.5%. Occupancy of the 1.1 million

More information

Miami-Dade County Retail Market Report 4Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report

Miami-Dade County Retail Market Report 4Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report Miami-Dade County Retail Market Report 4Q 216 Real Capital Partners Real Estate Services *Data Source CoStar 4Q 216 Miami-Dade County s Vacancy Decreases to 4.% Net Absorption Positive 1,155,8 SF in the

More information

The CoStar Office Report

The CoStar Office Report 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........................................................................

More information

2Q 17. Long Island Market Report

2Q 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 information

101 E Washington Street, Ste 400 Greenville, SC Q 18. Market Report

101 E Washington Street, Ste 400 Greenville, SC Q 18. Market Report 101 E Washington Street, Ste 400 Greenville, SC 29601 2Q 18 Market Report GREENVILLE/SPARTANBURG 2Q18 OFFICE REPORT * MARKET SUMMARY The Greenville Spartanburg Office market remained fairly steady at the

More information

The CoStar Industrial Report

The CoStar Industrial Report The CoStar Industrial Report M I D - Y E A R 2 0 1 0 Houston Industrial Market Houston Industrial Market MID-YEAR 2010 HOUSTON Table of Contents Table of Contents....................................................................

More information

Nashville the #5 Market to Watch in 2019

Nashville 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 information

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP SECOND QUARTER NEWSLETTER 216 HOT TOPICS Capital markets remain a focus with 14 assets either under contract or sold totaling $2.6 billion, which includes

More information

Houston s industrial leasing activity decreases 42.7% over the quarter - vacancy rate remains under 5.0%

Houston s industrial leasing activity decreases 42.7% over the quarter - vacancy rate remains under 5.0% Research & Forecast Report HOUSTON INDUSTRIAL Q3 2015 Houston s industrial leasing activity decreases 42.7% over the quarter - vacancy rate remains under 5.0% Lisa Bridges Director of Market Research Houston

More information

Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER Denver s industrial flex market vibrant during the first quarter.

Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER Denver s industrial flex market vibrant during the first quarter. Economic Overview DENVER INDUSTRIAL/FLEX MARKET MONITOR FIRST QUARTER 2015 Denver s industrial flex market vibrant during the first quarter. The Denver industrial market has record high asking rental rates,

More information

Houston s industrial market continues to expand

Houston s industrial market continues to expand Research & Forecast Report HOUSTON INDUSTRIAL Q1 2017 Houston s industrial market continues to expand Lisa Bridges Director of Market Research Houston During the first quarter of 2017, 1.7M SF of Houston

More information

CoStar Office Statistics. M i d - Y e a r Denver Office Market

CoStar Office Statistics. M i d - Y e a r Denver Office Market CoStar Office Statistics M i d - Y e a r 2 0 1 7 Mid-Year 2017 Denver Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information

The CoStar Office Report. T h i r d Q u a r t e r Greensboro/Winston-Salem Office Market

The CoStar Office Report. T h i r d Q u a r t e r Greensboro/Winston-Salem Office Market The CoStar Office Report T h i r d Q u a r t e r 2 0 1 4 Greensboro/Winston-Salem Office Market Third Quarter 2014 Greensboro/Winston-Salem Table of Contents Table of Contents.................................................................

More information

CoStar Office Statistics. Y e a r - E n d Portland Office Market

CoStar Office Statistics. Y e a r - E n d Portland Office Market CoStar Office Statistics Y e a r - E n d 2 0 1 7 Year-End 2017 Portland Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information

Strong Absorption Drives Down Vacancy to Start 2017

Strong Absorption Drives Down Vacancy to Start 2017 Research & Forecast Report GREATER PHOENIX INDUSTRIAL 2017 Strong Absorption Drives Down to Start 2017 Key Takeaways >> Industrial vacancy in Greater Phoenix dipped below 10 percent in the first quarter,

More information

INDUSTRIAL MARKET REPORT. San Antonio. 4th Quarter Q4 Market Trends 2016 by Xceligent, Inc. All Rights Reserved

INDUSTRIAL MARKET REPORT. San Antonio. 4th Quarter Q4 Market Trends 2016 by Xceligent, Inc. All Rights Reserved INDUSTRIAL MARKET REPORT San Antonio 4th Quarter 2015 Table of Contents/ Methodology of Tracked Set Xceligent is a leading provider of verified commercial real estate information which assists real estate

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE 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

More information

CoStar Office Statistics. Y e a r - E n d Denver Office Market

CoStar Office Statistics. Y e a r - E n d Denver Office Market CoStar Office Statistics Y e a r - E n d 2 0 1 6 Year-End 2016 Denver Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information

The CoStar Office Report

The CoStar Office Report 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........................................................................

More information

Q Atlanta Industrial Market Report 2,043,636 SF 4,083,728 SF 6.4% 5,014,822 SF 21,032,913 SF $4.79 SF $48 $535 M

Q Atlanta Industrial Market Report 2,043,636 SF 4,083,728 SF 6.4% 5,014,822 SF 21,032,913 SF $4.79 SF $48 $535 M Q4 2017 Atlanta Industrial Market Report 4,083,728 SF Q4 Net Absorption # Q3 3,168,125 SF 6.4% Q4 Vacancy $ Q3 6.8% 5,014,822 SF Q4 Leasing Activity $ 21,032,913 SF Under Construction # 2,043,636 SF New

More information

+48.6 million sf office inventory

+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 information

2Q 17. Office Market Report

2Q 17. Office Market Report 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.

More information

Miami-Dade County Office Market Report 1Q Real Capital Partners Real Estate Services

Miami-Dade County Office Market Report 1Q Real Capital Partners Real Estate Services -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

More information

Upstate, SC 1Q16. Industrial Market Report. Industrial. Upstate Economy in 1Q16* Industrial Sector in 1Q16. Trends for 1Q16

Upstate, SC 1Q16. Industrial Market Report. Industrial. Upstate Economy in 1Q16* Industrial Sector in 1Q16. Trends for 1Q16 Market Report The industrial market for the Upstate of South Carolina saw continued growth for the first quarter of 2016. While there was a positive net absorption of 1,024,708/SF, the Upstate industrial

More information

Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016

Strong 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 information

Industrial Market Report

Industrial Market Report Industrial Market Report West Michigan Q4 - Year End 017 Wisinski of West Michigan Commercial Real Estate Services, Worldwide. 100 Grandville Ave SW Suite 100 Grand Rapids, MI 49503 616. 776. 0100 www.naiwwm.com

More information

MARKET SUMMARY MICHIGAN, METRO DETROIT AREA FOURTH QUARTER 2016 P LAN T E M OR AN CRES A. pmcresa.com

MARKET SUMMARY MICHIGAN, METRO DETROIT AREA FOURTH QUARTER 2016 P LAN T E M OR AN CRES A. pmcresa.com FOURTH QUARTER 2016 MICHIGAN, METRO DETROIT AREA MARKET SUMMARY P LAN T E M OR AN CRES A 26300 NORTHWESTERN HIGHWAY SOUTHFIELD, MI 48076 248.223.3500 pmcresa.com Connect with us for more information: Subscribe

More information

CoStar Industrial Statistics. Y e a r - E n d Brownsville/Harlingen Industrial Market

CoStar Industrial Statistics. Y e a r - E n d Brownsville/Harlingen Industrial Market CoStar Industrial Statistics Y e a r - E n d 2 0 1 7 Brownsville/Harlingen Industrial Market Brownsville/Harlingen Industrial Market Year-End 2017 Brownsville/Harlingen Table of Contents Table of Contents.................................................................

More information

The CoStar Industrial Report

The CoStar Industrial Report The CoStar Industrial Report M I D - Y E A R 2 0 1 3 MID-YEAR 2013 COLORADO SPRINGS Table of Contents Table of Contents.................................................................... A Methodology........................................................................

More information

CoStar Office Statistics. M i d - Y e a r Portland Office Market

CoStar Office Statistics. M i d - Y e a r Portland Office Market CoStar Office Statistics M i d - Y e a r 2 0 1 7 Mid-Year 2017 Portland Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information

Office Market Report OFFICE MARKET REPORT. Boston. The Stevens Group. Ten Post Office Square Boston MA

Office Market Report OFFICE MARKET REPORT. Boston. The Stevens Group. Ten Post Office Square Boston MA OFFICE MARKET REPORT Office Market Report Boston The Stevens Group First Quarter 2017 The Stevens Group Ten Post Office Square Boston MA 02109 617-886-9300 Our Difference Is Your Advantage First Quarter

More information

2017 FORT WAYNE, INDIANA OFFICE MARKET SURVEY

2017 FORT WAYNE, INDIANA OFFICE MARKET SURVEY 2017 FORT WAYNE, INDIANA OFFICE MARKET SURVEY 2017 REVIEW 2018 FORECAST PREPARED WITH THE ASSISTANCE OF Overall, the market conditions have stabilized. The most significant development for the Fort Wayne

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

Industrial Snapshot 2Q 2016

Industrial Snapshot 2Q 2016 CHARLOTTE INDUSTRIAL Warehouse Market Indicators Warehouse Net Absorption/Asking Rent 4Q TRAILING AVERAGE 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0-200 2011 2012 2013 2014 2015 2016 Net Absorption,

More information

Industrial Market Closes 2017 on an Upswing

Industrial Market Closes 2017 on an Upswing Research & Forecast Report GREATER PHOENIX INDUSTRIAL Industrial Market Closes on an Upswing Key Takeaways > > The Greater Phoenix industrial market finished off a year of robust tenant demand with a strong

More information

Sarasota-Manatee, FL 3rd Quarter 2015 INDUSTRIAL. Market Trends COMMERCIAL REAL ESTATE INFORMATION

Sarasota-Manatee, FL 3rd Quarter 2015 INDUSTRIAL. Market Trends COMMERCIAL REAL ESTATE INFORMATION Sarasota-Manatee, FL 3rd Quarter 2015 INDUSTRIAL Market Trends COMMERCIAL REAL ESTATE INFORMATION Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set Sarasota-Manatee

More information

INDUSTRIAL REAL ESTATE TRENDS

INDUSTRIAL REAL ESTATE TRENDS INDUSTRIAL REAL ESTATE TRENDS Presented to: 2015 CCIM Commercial Real Estate Outlook Conference Presented by: CBRE, INC. Michael Silver, SIOR First Vice President Industrial Brokerage Services January

More information

INDUSTRIAL MARKET ANALYSIS

INDUSTRIAL MARKET ANALYSIS INDUSTRIAL MARKET ANALYSIS A. SYNKAI HARRISON Portland State University The National Real Estate Investor recently reported that 2014 saw the return speculative development in the industrial market in

More information

MARKET SUMMARY MICHIGAN, METRO DETROIT AREA SECOND QUARTER 2016 P LAN T E M OR AN CRES A. pmcresa.com

MARKET SUMMARY MICHIGAN, METRO DETROIT AREA SECOND QUARTER 2016 P LAN T E M OR AN CRES A. pmcresa.com SECOND QUARTER 2016 MICHIGAN, METRO DETROIT AREA MARKET SUMMARY P LAN T E M OR AN CRES A 26300 NORTHWESTERN HIGHWAY SOUTHFIELD, MI 48076 248.223.3500 pmcresa.com Connect with us for more information: Subscribe

More information

CoStar Office Statistics. F i r s t Q u a r t e r Colorado Springs Office Market

CoStar Office Statistics. F i r s t Q u a r t e r Colorado Springs Office Market CoStar Office Statistics F i r s t Q u a r t e r 2 0 1 7 First Quarter 2017 Colorado Springs Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information

BOSTON INDUSTRIAL MARKET

BOSTON INDUSTRIAL MARKET BOSTON INDUSTRIAL MARKET FIRST QUARTER 217 INDSTATUS WAREHOUSE SPACE Inside... Manufacturing market posts largest absorption in more than a year Warehouse rents reach highest price since 24 Six consecutive

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

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

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

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview 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

More information

CoStar Industrial Statistics. Y e a r - E n d McAllen/Edinburg/Pharr Industrial Market

CoStar Industrial Statistics. Y e a r - E n d McAllen/Edinburg/Pharr Industrial Market 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.................................................................

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

The CoStar Retail Report

The CoStar Retail Report The CoStar Retail Report Y E A R - E N D 2 0 1 1 YEAR-END 2011 KANSAS CITY Table of Contents Table of Contents.................................................................... A Methodology........................................................................

More information

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline.

DISTRICT 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 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 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

100% OCCUPIED - 2 TENANT INDUSTRIAL INVESTMENT. Sun MCLEOD BUSINESS CENTER E. Post Road, Las Vegas, Nevada Commercial Real Estate, Inc.

100% OCCUPIED - 2 TENANT INDUSTRIAL INVESTMENT. Sun MCLEOD BUSINESS CENTER E. Post Road, Las Vegas, Nevada Commercial Real Estate, Inc. 0% OCCUPIED - TENANT INDUSTRIAL INVESTMENT Sun Commercial Real Estate, Inc. MCLEOD BUSINESS CENTER 70 E. Post Road, Las Vegas, Nevada 890 Contact Team Lisa Hauger Senior Vice President 70-968-7333 LisaH@suncommercialre.com

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

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

Q Atlanta Industrial Market Report 3,831,665SF 2,761,672 SF 6.9% 6,044,778 SF 18,736,900 SF $4.50 SF $56 $578 M

Q Atlanta Industrial Market Report 3,831,665SF 2,761,672 SF 6.9% 6,044,778 SF 18,736,900 SF $4.50 SF $56 $578 M Q3 2017 Atlanta Industrial Market Report 2,761,672 SF Q3 Net Absorption $ Q2 6,323,185 SF 6.9% Q3 Vacancy # Q2 6.8% 6,044,778 SF Q3 Leasing Activity $ 18,736,900 SF Under Construction # 3,831,665SF New

More information

Q PHOENIX INDUSTRIAL REPORT

Q PHOENIX INDUSTRIAL REPORT Q2 2018 PHOENIX INDUSTRIAL REPORT MARKET FUNDAMENTALS ANNUAL COMPARISON Q2 2018 Q2 2017 VACANCY 6.97% VACANCY 8.95% RENTAL RATES $0.59 RENTAL RATES $0.58 SF UNDER CONSTRUCTION 5.79 M SF UNDER CONSTRUCTION

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

The CoStar Retail Report

The CoStar Retail Report The CoStar Retail Report T H I R D Q U A R T E R 2 0 1 1 Kansas City Retail Market Kansas City Retail Market THIRD QUARTER 2011 KANSAS CITY Table of Contents Table of Contents....................................................................

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

2017 FORT WAYNE, INDIANA RETAIL MARKET SURVEY

2017 FORT WAYNE, INDIANA RETAIL MARKET SURVEY 2017 FORT WAYNE, INDIANA RETAIL MARKET SURVEY REVIEW FORECAST PREPARED WITH THE ASSISTANCE OF Nationally, retailers are closing stores at a record pace as they feel the fallout from decades of overbuilding

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

Vacancy Inches Higher, Despite Continued Absorption

Vacancy 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 information

First Quarter 2017 / Industrial Market Report. Market Overview

First Quarter 2017 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 3.4% Availability rate in the Greater Toronto Area vs vacancy rate of 2.2% $6.53 PSF Average asking net rent in the Greater Toronto Area 18 Number of properties in the

More information

The CoStar Industrial Report

The CoStar Industrial Report The CoStar Industrial Report Y E A R - E N D 2 0 0 6 YEAR-END 2006 ATLANTA Table of Contents Table of Contents.................................................................... A Methodology........................................................................

More information

First Quarter Industrial Market Report 2017

First Quarter Industrial Market Report 2017 First Quarter Industrial Market Report 2017 03 04 04 04 05 06 08 09 10 11 13 Executive Summary National Economy Local Economy Oklahoma City Industrial Market Leasing Net Absorption and Inventory Rental

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

Industrial Market Report

Industrial Market Report Industrial Market Report West Michigan Q2 2018 Wisinski of West Michigan Office Industrial Retail Multi-Family GRAND RAPIDS The Market 1,058,079 Total Population 130+ International Companies $60,212 Average

More information

Quarterly Market Report

Quarterly Market Report HOUSTON OFFICE JANUARY 2018 EXECUTIVE SUMMARY Office Market Shows Signs of Improvement Houston s overall vacancy rate remained relatively unchanged at 20.7% in, a decrease of 10 basis points quarter-over-quarter,

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

The CoStar Industrial Report

The CoStar Industrial Report The CoStar Industrial Report F I R S T Q U A R T E R 2 0 1 4 FIRST QUARTER 2014 DALLAS/FT. WORTH Table of Contents Table of Contents....................................................................

More information

Denver s Retail Sector Keeps Rolling 500, , , , , , , , ,000 50,000. Square Feet

Denver 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 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

BOSTON INDUSTRIAL MARKET

BOSTON INDUSTRIAL MARKET BOSTON INDUSTRIAL MARKET THIRD QUARTER 217 INDSTATUS INLAND FREIGHT Inside... Industrial vacancy drops slightly. Positive absorption seen 11 of the past 13 quarters. Warehouse space in The Boroughs remains

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis 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 information

Homestretch: Office Market Set to Finish Strong

Homestretch: 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 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

Americas Office Trends Report

Americas Office Trends Report AMERICAS OFFICE TRENDS REPORT Americas Office Trends Report Summary The overall national office market recovery slowed slightly in the first quarter of 2016 amid financial market volatility. However, as

More information

The CoStar Industrial Report

The CoStar Industrial Report The CoStar Industrial Report F I R S T Q U A R T E R 2 0 1 1 Miami-Dade County Industrial Market Miami-Dade County Industrial Market FIRST QUARTER 2011 MIAMI-DADE COUNTY Table of Contents Table of Contents....................................................................

More information

OFFICE REPORT WINTER 2017

OFFICE REPORT WINTER 2017 A Global Division of Cressy Commercial Real Estate OFFICE REPORT WINTER 217 www.cressycommercial.com OFFICE BUILDING CLASSIFICATIONS Office buildings are loosely classified based on the quality of their

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

MONTGOMERY TRACE CENTER EVA ST. MONTGOMERY, TX 77356

MONTGOMERY TRACE CENTER EVA ST. MONTGOMERY, TX 77356 FOR SALE $10,675,000 8.0 % CAP RATE A GROCERY A GROCERY ANCHORED ANCHORED NEIGHBORHOOD SHOPPING SHOPPING CENTER CENTER FOR MORE INFORMATION CONTACT: Jeff Tinsley Jeff Beard, CCIM 92% OCCUPOIED OCCUPIED

More information

Industrial Real Estate Portfolio

Industrial Real Estate Portfolio Industrial Real Estate Portfolio Portfolio Coverage Page 7 6565 Echo Avenue, Reno, NV Property Summary Address: Size (SF): Office Finish: HVAC Space: Year Built: 2003 Site Area: 6565 Echo Avenue Reno,

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

17th Annual Real Estate Review & Forecast

17th Annual Real Estate Review & Forecast 2017 17th Annual Real Estate Review & Forecast This Year s Sponsors Member FDIC Construction: Review & Forecast 2017 Page 2 Permits Issued 142 New Commercial Construction Permits issued for all Elkhart

More information

CoStar Industrial Statistics. Y e a r - E n d Tucson Industrial Market

CoStar Industrial Statistics. Y e a r - E n d Tucson Industrial Market CoStar Industrial Statistics Y e a r - E n d 2 0 1 6 Year-End 2016 Tucson Table of Contents Table of Contents................................................................. A Methodology......................................................................

More information