Office Report. Sacramento Office Insights Volume 2 2nd Quarter Accelerating success.

Size: px
Start display at page:

Download "Office Report. Sacramento Office Insights Volume 2 2nd Quarter Accelerating success."

Transcription

1 Office Report Sacramento Office Insights Volume 2 2nd Quarter 2012 Accelerating success.

2 Office Report 2nd quarter 2012 Sacramento Office Market Q2 Highlights Overall performance during 2nd Quarter 2012 in the Sacramento office market can best be characterized as steady as she goes ; vacancy continues to decline, velocity is good, positive absorption continues, and lease rate declines have stopped. The following is a summary of the market during the quarter. Vacancy declined for the fourth consecutive quarter, albeit minimally, dropping 12 basis points down to 17.3% during the quarter, and 37 basis points over the four-quarter period. Total leasing activity remained active with just over 1.2 million SF of available space being occupied during the quarter, yielding 113,390 square feet of positive net absorption from April through June. Office sales continue to get consummated, but mostly at favorable buyer prices; average pricing during the quarter declined by almost 20% from the previous quarter level. The direct average lease rate held steady during 2nd Quarter 2012 at a monthly rate of $1.70 per-square-foot full-service, following 16 consecutive quarter declines resulting in a drop of $0.43 per-squarefoot (20%) during that four-year period. There are six office buildings totaling approximately 382,600 square feet under construction in the market as of June 30, with most of that space expected to be completed in Over the next 90 days we expect vacancy to slightly decline, net absorption to be positive, and lease rates to remain unchanged. There are positive signs to the Sacramento real estate landscape. Overall activity is steady. Regional housing is showing signs of life. Good employment news regarding healthcare, new tenants in the market, and Aerojet s business growth. We have a long way to go, but are optimistic about the future. Randy Dixon Managing Director Key Office metrics - 2Q 2012 (See note Below) Total Market Adjusted Vacancy 17.4% 20.8% Net Absorption 113,390 SF 2,336 SF Deliveries 0 SF 0 SF Construction 382,608 SF 382,608 SF Average Direct Asking Rate FS/Mo $1.70/SF $1.71/SF Note: Statistics in the Total Market column include all office buildings,000 sf and greater in the Sacramento MSA. Statistics in the Adjusted column do not include owner-occupied or government buildings. Third Quarter Forecast VACAncy Asking Rates Net Absorption Deliveries Construction 17.3% Down 0.1% From 2Q 2012 $1.70 No Change From 2Q ,000 Square feet vs. 113,930 SF 2Q ,600 Square feet vs. 0 SF 2Q ,000 Square feet Vs 382,608 SF 2Q 2012 p. 2 Colliers International

3 Office RePort 2nd Quarter 2012 Vacancy Overall office vacancy in the Sacramento region, including owner-occupied and government owned buildings, continues to head in the right direction, but very slowly. During 2nd Quarter 2012, the metro vacancy rate dropped another 12 basis points, ending the three-month period at 17.4%. Additionally, the current vacancy rate is 30 basis points lower than the 2nd Quarter 2011 level of 17.7%. Key VACAncy Metrics - 2Q 2012 Current Quarter (Q2 2012) 17.4% Current Year (Q2 2012) 17.4% Previous Quarter (Q1 2012) 17.% Previous Year (Q2 2011) 17.7% TOTAl Inventory Breakdown Class C Class A 27.% 27.4% Total Inventory ,716,807 SF Million SF 4.1% Metro wide, the Class C sub-sector continues to hold the lowest vacancy level at 1.7%, followed by Class A at 17.8%, and then Class B at 18.1%. Much of this performance is the result of no new Class C inventory being delivered to the market since 1st Quarter 2007, while Class A deliveries since that time have totaled more than 3.1 million square feet and Class B product completions have reached 2.4 million square feet. Vacancy among downtown product compared to suburban inventory shows the desire of office users to be located in, or near, the CBD, close to the large government presence operating near the State Capitol. Vacancy in the office market is highly correlated to employment, and typically declines when job growth is present. However, the Sacramento employment picture continues to flutter, as there remains a lack of definitive sources identified for future employment growth. The following graphic illustrates the relationship between jobs and office vacancy in Metro Sacramento over the past three years. Class B VACAncy Comparison 2.0% 20.0% 1.0% 10.0%.0% 0.0% Class A Class B Class C Downtown Suburban Metro Employment vs. Office VACAncy Employment in Thousands Forecast Period 18.0% 17.8% 17.6% 17.4% 17.2% 17.0% 16.8% 16.6% 16.4% 16.2% 16.0% Although deal velocity and job growth still lag, we re seeing more confidence from tenants regarding lease completion, and the length of term is more often five years than the shorter terms of recent years. Scott Bennett, # Employed Vacancy Sources: Bureau of Labor Statisics & CoStar As the graph indicates, vacancy has escalated since late 2009 as employment growth has declined. With limited new job sources identified on the near-term horizon, the employment outlook for Metro Sacramento is expected to be slow growth. However, announcements like Advanced Call Center Technologies brining 2,000 new jobs to the region will hopefully boost the pace of job recovery in the region. Office vacancy in Metro Sacramento is projected to decline by 40 basis points by June 30, 2013, ending the next 12-month period at 17.0%. Colliers International p. 3

4 Office Report 2nd quarter 2012 Absorption Analysis Sacramento s office market registered another quarter of positive net absorption during the second three months of 2012, the fifth consecutive quarter with net positive leasing activity totalling over 6,000 square feet. The positive results reported in 2nd Quarter is attributable to exceptionally strong leasing activity in Class A product, posting a net absorption of 10,000 square feet during the quarter. Many Class B and C users continue to take advantage of the lower lease rates in Class A space and move-up the class chain. With a strong health care industry continuing to grow, and a burgeoning clean energy sector expanding, the Metro Sacramento market should continue to keep the net positive leasing trend going over the next 12 months. Net Absorption Square Feet (100,000) (200,000) (300,000) (400,000) Sources: CoStar & Colliers Research Though these two sectors are growing, there are still businesses consolidating or closing that will keep downward pressure on this positive leasing activity. 400, , , ,000 Some submarkets during 2nd Quarter 2012 recorded strong net leasing activity, while others struggled to generate positive leasing results. The following table summarizes the winners and losers relating to 2nd Quarter 2012 absorption activity. 0 3Q Q Q Q Q Q 1Q Q Q Q Q Q 2012 Forecast Period 3Q 2012F 4Q 2012F 1Q 2013F 2Q 2013F Hot SubmarkeTS - 2Q 2012 Submarket ClASS Absorption Roseville / Rocklin B 69,412 SF Folsom A,70 SF Natomas / Northgate B 32,733 SF Howe Ave / Fulton Ave B 32,3 SF Point West B 2,112 SF Cold SubmarkeTS - 2Q 2012 Submarket ClASS Absorption Highway 0 Corridor B (44,991) SF Downtown B (34,838) SF Davis / Woodland B (28,373) SF Natomas / Northgate C (27,300) SF Folsom B (24,702) SF Some of the submarkets experiencing most of the tenant interest during 2nd Quarter 2012 include Roseville/Rocklin, Folsom, and the Natomas/Northgate submarket. Though the improvements in Sacramento s office market continue to be positive from quarter to quarter, the pace of improvement is not too substantial, leading one to believe that the market is meandering along the bottom of the recovery cycle. This sector is not likely to show any significant improvement until sustainable job generators can be identified. p. 4 Colliers International

5 Lease Rates The monthly direct average asking lease rate for all office inventory in the Metro Sac region was $1.70, unchanged from the previous quarter level, but a $0.06 decline from the $1.76 reported one year earlier. It is important to note that the flat asking rate experienced from 1st to 2nd quarter comes at the heels of 16 consecutive quarterly declines. With movement in lease rates tied so closely to vacancy, and vacancy in the market continuing to hold its own, rates appear to be bottoming as evidenced by the stability experienced from 1st to 2nd quarter. We expect the rate in both Class A & B product to remain level over the next four quarters. Much of the rate declines experienced over the past few quarters continue to be tied to ownership finally recognizing that the leasing environment has changed, and for their inventory to remain leased they must remain competitive with where the market is. However, an analysis of lease rate reductions over the past few years shows reductions in 2011 were less than in 2010, and 2010 declines were substantially less than those in 2009, with current rates hopefully being the starting point for a recovery. Though most submarkets experienced rate reductions during the past year consistent with the metro area results, there were some bright spots with several submarkets recording an increase in their year-over-year monthly average direct lease rate. The Rio Linda/North Highlands submarket recorded the highest 12-month increase at $0.13 per square-foot. As noted in our previous reports, asking rents for office space in the Sacramento region now stand at similar levels recorded in We do believe that rents in both the downtown and suburban markets have essentially bottomed, but we do project these rates to stay flat for at least the next 12 months. ConceSSIOns Concessions continue to be a prominent component in the current leasing environment. Leasing activity during 2nd Quarter 2012 was very consistent to previous quarters as it relates to tenant allowances, free rent and rate reductions. Tenants still have the leverage, and seem to be finding more success in closing their leases under their terms. High vacancy buildings will continue to keep pressure on existing ownership to use concessionary tools to keep tenants upon renewal. Additionally, the weak employment outlook for the region shows little promise for any new measurable office demand over the next 12 months. Office RePort 2nd Quarter 2012 Key Direct Rate Metrics - 2Q 2012 /SF/MO (FS) 2Q Q 2012 % Change Class A $2.10 $ % Class B $1.74 $ % Class C $1.38 $ % Direct Average Asking Rate Full Service $2.0 $2.40 $2.30 $2.20 $2.10 $2.00 $1.90 $1.80 $1.70 $1.60 Monthly Lease Rate Comparison Increases Monthly Lease Rate Monthly Lease Rate Class A $ $2.00 $1.7 $1.0 $1.2 $1.00 $2.00 $1.7 $1.0 $1.2 $1.00 Rio Linda / N Highlands West Sacramento Watt Avenue Davis / Woodland Forecast Period Sources: CoStar & Colliers Research East Sacramento 2Q Q 2012 Natomas / Northgate 2Q Q 2012 Class B Midtown Monthly Lease Rate Comparison Decreases South Sacramento Point West Forecast Period $2.0 $2.40 $2.30 $2.20 $2.10 $2.00 $1.90 $1.80 $1.70 $1.60 $1.0 Colliers International p.

6 Office Report 2nd quarter 2012 Construction Summary As of June 30, 2011, work continued on six new office buildings in the Sacramento region: an 8,393 square-foot, Class B office building located in Folsom, scheduled for completion sometime in August a 6,07 square-foot, Class B office building located in El Dorado Hills scheduled for completion sometime in August a,140 square-foot, four-story, Class B office building located in Roseville, purchased as a shell at auction in November 2011 and is expected to be delivered to the market during 3rd Quarter a 3,000 square-foot, Class A office building located in Roseville, scheduled for completion sometime in December Two Class A, build-to-suit, office buildings totaling 260,000 square feet to house CA Correctional Healthcare employees, scheduled to be completed in mid Investment Climate Cash buyers continue to seek out acquisition opportunities priced right from sellers who continue to struggle. It will continue to be a buyer s market during the remainder of Well-leased quality assets with strong tenants and a great location will continue to command strong pricing. Additionally, many users in the market continue to pursue acquisition of their facilities to take advantage of the current depressed pricing. In the short-term we do expect to continue seeing some buyers hesitating to pull the trigger on deals, and being more selective based on price and upside. However, out of area interest continues to add an element of competitiveness to acquisition opportunities. Cap rates on Sacramento office sales continue to improve with the average cap rate for sales consummated thus far in 2012 dropping to 7.%. Investment activity is slowly picking up pace in the region due to the recent up-swelling of capital chasing Bay Area investment product. As these investors experience cap rate compression in the Bay Area, some are now again looking to the Sacramento region for better overall returns Heath Charamuga, Cap Rate Analysis 9.0% 8.6% 8.0% 7.7% 7.0% 7.0% 7.1% 7.% 6.0% Dec Jun Source: Costar p. 6 Colliers International

7 Office RePort 2nd Quarter 2012 Housing Market on the Up Residential real estate s downturn has been one of the biggest influences in the state of the Sacramento area commercial real estate market. We are happy to report residential real estate is beginning to show signs of a recovery in the second quarter. Although residential property has been transacting at a low rate, those in need of housing are not always the ones buying. As mentioned in the Sacramento Bee Friday, July 27th, Record low interest rates and rock-bottom home prices make now the perfect time for buyers with modest incomes to purchase homes they can afford. In many neighborhoods, their mortgage payments would be about half the cost of rent. Getting an affordable piece of the American Dream isn t so easy, though. These would-be homeowners are competing and often losing to investors paying all cash in a frenzy to snap up cheap rental properties at the bottom of the market. In Sacramento Certified HOT As investors seize great residential deals, the average homeowner is forced to compete for the limited supply of available housing with cash offers, driving home prices upward. In an interview with Tom Beede, President & CEO of MetroList, Hudson Sangree wrote real estate agents consider a housing market heathly when it has about a six-month supply of inventory - meaning it would take six month to sell all listed homes. The Sacramento region has had less than a 30-day supply of inventory for months... Such tight inventory can lead only to upward pressure on prices as demand outpaces supply... We ve moved from a buyer s market to a seller s market... Sangree also cites Zillow s second quarter market report. Sacramento s housing market hit bottom in the first quarter of 2012, and home prices will rise here by more than twice the national average in the coming year. This is a big change from the firm s April forecast of a continuing decline in the region s home values with no sign of a bottom. Zillow also predicts given the limited new supply and lack of inventory in Sacramento... prices will rise by twice the national average in the coming year. The answer to heavy demand is to create more supply is already seeing significant increases in annual building permits from the all-time low during New home sale prices are back to 2001 levels, and entitled land is seeing an increase in activity with multiple buyers for each sale. An increase in supply will keep housing costs affordable. With the rise in building permits, an increase in regional employment will not be far behind. More housing means more jobs. More jobs means higher demand for all commercial real estate sectors. Although these are just sparks, we hope these light the fire to thaw Sacramento s CRE market. In Sacramento In Sacramento Colliers International p. 7

8 Office Report 2nd quarter 2012 Sacramento Office Market Featured Deals Sale Comparables Map # Property Location Rentable SF Sale Price Price/SF Submarket Buyer Seller Del Paso 6,376 $1,772,209 $277.9 Natomas/Northgate Crosspoint Church Buzz Oates Capitol Ave 12,876 $2,00,000 $ Midtown Center of Praise Capitol Program Eureka Rd 1,37 $,00,000 $ Roseville/Rocklin Pacific Coast Bldng Miller Family Tribute Rd 28,72 $2,00,000 $87.0 Point West Los Rios Comm Coll Ksidakis Trust 3330 Cameron Park Dr 2,00 $900,000 $3.93 El Dorado N/A Sierra Investment Lease Transactions Map # Property Location Leased SF Class Tenant Submarket Type El Camino Ave 106,419 C State of California Watt Ave Renewal Prospect Park Dr 101,400 C Dignity Health Highway 0 New Watt Ave 87,43 C Advanced Call Center Tech Rio Linda/N Highlands New Alhambra Blvd 0,000 C N/A South Sacramento New 1180 Iron Point Rd 29,166 A Sierra Pacific Mortgage Folsom New Colliers Transactions Map # Property Location Leased SF Class Tenant Submarket Type Iron Point Rd 29,166 A Sierra Pacific Mortgage Folsom New 249 Natomas Park Drive 24,38 A Delegata Natomas/Northgate Renewal 229 Gateway Oaks Drive 6,818 A Woodruff-Sawyer & Co. Northgate/Natomas New 428 J Street 3,644 B Renne Sloan Holtzman Sakai Downtown New 200 Venture Oaks Way 3,349 A Suzanne Trimble Natomas/Northgate Renewal p. 8 Colliers International

9 Office RePort 2nd Quarter Cameron park Colliers International p. 9

10 Office Report 2nd quarter 2012 Submarket Analysis 2Q 2012 Submarket Rentable Building Area Direct VACAncy rate Overall VACAncy rate AVAIlability rate Net Absorption SF YTD Net Absorption SF Under Constrcuction SF Direct FS Average Lease rate $/SF/MO Auburn / Lincoln 1,33, % 13.6% 1.% (9,008) (3,70) 0 $1.43 Campus Commons 1,09, % 20.6% 22.6% (8,303) (9,640) 0 $1.70 Carmichael / Fair Oaks 1,7, % 1.4% 19.% (14,172) (6,922) 0 $1.27 Citrus Heights / Orangevale 1,782, % 1.4% 18.4% 3,164 37,024 0 $1.27 Davis / Woodland 2,272, % 11.6% 12.7% (16,320) (28,64) 0 $1.68 East Sacramento 1,947, % 10.3% 11.0% (3,96) 63,40 0 $1.66 El Dorado 1,988, % 21.8% 28.9% 4,220 13,882 6,07 $1.66 Elk Grove 1,11, % 20.1% 24.9% 16,302 68, ,000 $2.10 Folsom,08, % 13.1% 18.8% 24,689 97,822 8,393 $1.88 Highway 0 Corridor 1,94, % 19.7% 22.7% (4,078) (90,141) 0 $1.60 Howe Ave / Fulton Ave 2,837, % 20.9% 23.3% 16,76 43,83 0 $1.0 Midtown 4,604, % 7.6% 11.8% 26,943 11,143 0 $1.83 Natomas / Northgate 6,376,72 2.% 2.8% 28.3% 9,84 (60,008) 0 $1.67 Point West 2,941, % 29.7% 30.9% 1,138 (3,206) 0 $1.66 Rio Linda / N Highlands 1,19, % 37.3% 46.0% (4,446) (11,274) 0 $1.62 Roseville / Rocklin 11,770, % 2.3% 28.3% 113,803 12, ,140 $1.71 South Sacramento 3,261, % 17.9% 19.9% 20,312 10,84 0 $1.34 Watt Avenue 2,732, % 14.8% 16.0%,911 (1,627) 0 $1.29 West Sacramento 2,30, % 9.1% 10.8% (9,227) (8,142) 0 $1.64 Suburban Market 72,773, % 19.3% 22.3% 146,73 230, ,608 $1.64 Downtown (All) 18,943,43 9.6% 9.9% 11.9% (33,183) (12,780) 0 $2.16 Downtown (Class A) 9,062, % 8.6% 11.3% ,06 0 $2.72 Overall Market 91,716, % 17.4% 20.1% 113, , ,608 $1.70 Results are from CoStar and include all office space existing, under construction, or under renovation greater than,000 square feet located in all core areas of Sacramento, Placer, El Dorado and Yolo counties. p. 10 Colliers International

11 Office RePort 2nd Quarter 2012 Brokerage Services Office Specialists Scott Bennett Norah Brennan Sr. Project Coord. Business Devel Dave Herrera Vice President Ken Johnson Senior Associate Scott Kingston Vice President Office Investments & Leasing Eric Ortiz Senior Associate Investment Specialists Kris Reilly Jason Rutherford Tom Walcott, SIOR John Banchero Investment Sales Steve Chamberlain Investment Sales Heath Charamuga Investment Sales Colliers Management John Jackson Vice President Investment Sales Ben Prater Investment Advisor Investment Sales Randy Dixon Managing Director John Shaffer Senior Research Analyst Colliers International p. 11

12 Colliers International 301 University Avenue, Suite 100 Sacramento, CA 982

Retail Report. Sacramento Retail Insights Volume 2 2nd Quarter Accelerating success.

Retail Report. Sacramento Retail Insights Volume 2 2nd Quarter Accelerating success. Retail Report Sacramento Retail Insights Volume 2 2nd Quarter 2012 Accelerating success. Retail Report 2nd quarter 2012 Sacramento Retail Market Q2 Highlights Overall performance during 2nd Quarter 2012

More information

SACRAMENTO OFFICE REPORT SACRAMENTO FIRST QUARTER Accelerating success.

SACRAMENTO OFFICE REPORT SACRAMENTO FIRST QUARTER Accelerating success. SACRAMENTO OFFICE REPORT SACRAMENTO FIRST QUARTER 2014 www.colliers.com/sacramento Accelerating success. Colliers International 2014 First Quarter Report 1 KEY OFFICE METRICS - Q1 2014 Total Market Adjusted

More information

SACRAMENTO RETAIL REPORT SACRAMENTO FIRST QUARTER Accelerating success.

SACRAMENTO RETAIL REPORT SACRAMENTO FIRST QUARTER Accelerating success. SACRAMENTO RETAIL REPORT SACRAMENTO FIRST QUARTER 201 www.colliers.com/sacramento Accelerating success. Colliers International 201 First Quarter Report 1 KEY RETAIL METRICS - Q1 201 Total Market Adjusted

More information

Multifamily Report. Sacramento Apartment Insights Volume 1 1 st Quarter Accelerating success.

Multifamily Report. Sacramento Apartment Insights Volume 1 1 st Quarter Accelerating success. Multifamily Report Sacramento Apartment Insights Volume 1 1 st Quarter 2013 Accelerating success. Sacramento Apartment Market Q1 HIGHLIGHTS During 1st Quarter 2013 the Sacramento apartment sector continued

More information

Multifamily Report. Sacramento Apartment Insights Volume 4 4th Quarter Accelerating success.

Multifamily Report. Sacramento Apartment Insights Volume 4 4th Quarter Accelerating success. Multifamily Report Sacramento Apartment Insights Volume 4 4th Quarter 2013 Accelerating success. 4Q 2013 MULTIFAMILY greater sacramento research & forecast Report Fourth Quarter 2013 General Market During

More information

SACRAMENTO INDUSTRIAL REPORT SACRAMENTO FIRST QUARTER Accelerating success.

SACRAMENTO INDUSTRIAL REPORT SACRAMENTO FIRST QUARTER Accelerating success. SACRAMENTO INDUSTRIAL REPORT SACRAMENTO FIRST QUARTER 2014 www.colliers.com/sacramento Accelerating success. Colliers International 2014 First Quarter Report 1 KEY INDUSTRIAL METRICS - Q1 2014 Vacancy

More information

Industrial Report. Sacramento Industrial Insights Volume 4 4th Quarter Accelerating success.

Industrial Report. Sacramento Industrial Insights Volume 4 4th Quarter Accelerating success. Industrial Report Sacramento Industrial Insights Volume th Quarter 01 Accelerating success. Q 01 INDUSTRIAL GREATER SACRAMENTO RESEARCH & FORECAST REPORT Sacramento Industrial Insights Volume 1 nd Quarter

More information

Office Report. Sacramento Valley First Quarter City, State Year.

Office Report. Sacramento Valley First Quarter City, State Year. Office Report City, State Year Sacramento Valley First Quarter 2014 Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael,

More information

Sacramento Office MarketView Q3 2014

Sacramento Office MarketView Q3 2014 Sacramento Office MarketView Q3 2014 CBRE Global Research and Consulting UNEMPLOYMENT RATE 7.0% VACANCY RATE 19.4% NET ABSORPTION 123,907 sq. ft. AVG ASKING LEASE RATE $1.69 per sq. ft. FSG COMPLETED CONSTRUCTION

More information

Office Report. Sacramento Valley Third Quarter City, State Year.

Office Report. Sacramento Valley Third Quarter City, State Year. Office Report City, State Year Sacramento Valley Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael, Santa Cruz, Santa

More information

Industrial Report. Sacramento Industrial Insights Volume 4 4th Quarter Accelerating success.

Industrial Report. Sacramento Industrial Insights Volume 4 4th Quarter Accelerating success. Industrial Report Sacramento Industrial Insights Volume 4 4th Quarter 2012 Accelerating success. Sacramento Industrial Market Q4 HIGHLIGHTS Overall performance during 4rd Quarter 2012 in the Sacramento

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

Office Report. Sacramento Valley Second Quarter City, State Year.

Office Report. Sacramento Valley Second Quarter City, State Year. Office Report City, State Year Sacramento Valley Second Quarter 2014 Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael,

More information

PRESENTED BY: John Shaffer Brian Nelson (916) (916)

PRESENTED BY: John Shaffer Brian Nelson (916) (916) Sacramento Multifamily Summary Apartment ADVISORY TEAM PRESENTED BY: John Shaffer Brian Nelson (916) 563-3035 (916) 830-2576 John.shaffer@colliers.com Brian.nelson@colliers.com 1 Sacramento Multifamily

More information

Industrial Report. City, State Year Sacramento Valley Third Quarter Cassidy Turley Northern California

Industrial Report. City, State Year Sacramento Valley Third Quarter Cassidy Turley Northern California Industrial Report City, State Year Sacramento Valley Offices in Burlingame, Capitola, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael, Santa

More information

Summary. Houston. Dallas. The Take Away

Summary. Houston. Dallas. The Take Away Page Summary The Take Away The first quarter of 2017 was marked by continued optimism through multiple Texas metros as job growth remained positive and any negatives associated with declining oil prices

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

Q PHOENIX OFFICE REPORT

Q PHOENIX OFFICE REPORT Q2 2018 PHOENIX OFFICE REPORT MARKET FUNDAMENTALS ANNUAL COMPARISON Q2 2018 Q2 2017 VACANCY 16.47% VACANCY 16.93% RENTAL RATES $25.43 RENTAL RATES $24.76 SF UNDER CONSTRUCTION 2.76 M SF UNDER CONSTRUCTION

More information

MAR KET GLANCE SAN DIEGO OFFICE MARKET REPORT PROPERTY SERVICES DEVELOPMENT INVESTMENT FOURTH QUARTER 2015 PROPERTY SERVICES DEVELOPMENT INVESTMENT

MAR KET GLANCE SAN DIEGO OFFICE MARKET REPORT PROPERTY SERVICES DEVELOPMENT INVESTMENT FOURTH QUARTER 2015 PROPERTY SERVICES DEVELOPMENT INVESTMENT AT A SAN DIEGO OFFICE MARKET REPORT FOURTH QUARTER 215 AT A NEW SUPPLY PUSHES VACANCY RATES HIGHER San Diego s regional economy has been buzzing and added a net total of 37,8 jobs in the 12 months ending

More information

Market Overview TAMPA BAY OFFICE THIRD QUARTER

Market Overview TAMPA BAY OFFICE THIRD QUARTER Market Overview TAMPA BAY OFFICE THIRD QUARTER 29 COLLIERS ARNOLD TAMPA BAY Insights on the Market OFFICE THIRD QUARTER 29 MARKET INDICATORS TAMPA BAY INVENTORY 8,58,612 Sq. Ft. Q3 Q4* OVERALL VACANCY

More information

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2. Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross

More information

Stronger Office Market Looking Into Future

Stronger Office Market Looking Into Future Research & Forecast Report Long Island OFFICE MARKET Q2 2015 Stronger Office Market Looking Into Future Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Long Island economic and

More 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

>> 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

>> 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

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

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

>> 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

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

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

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

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

Picked Over. ALBUQUERQUE, NM Q Industrial. Research & Forecast Report. Key Takeaways. Market Indicators Relative to prior period

Picked Over. ALBUQUERQUE, NM Q Industrial. Research & Forecast Report. Key Takeaways. Market Indicators Relative to prior period Research & Forecast Report ALBUQUERQUE, NM Q4 20 Industrial Picked Over Key Takeaways > > Owner user acquisitions strong > > Supply tightens > > New construction projects gaining more momentum The appetite

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

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

>> 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

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

National Presence. Local Focus

National Presence. Local Focus Metropolitan DC Market Overview 4Q 214 Overall Market Summary The Washington, DC Metropolitan commercial real estate market is comprised of approximately 41.9 million square feet of rentable office space

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

Office Leasing Activity Hits a Road Bump In Omaha and Nationally

Office Leasing Activity Hits a Road Bump In Omaha and Nationally Research & Forecast Report OMAHA OFFICE Fourth Quarter 2017 Office Leasing Activity Hits a Road Bump In Omaha and Nationally In the fourth quarter of 2017, the Omaha office market experienced negative

More information

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

>> 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

Industrial Report. Sacramento Valley Second Quarter City, State Year.

Industrial Report. Sacramento Valley Second Quarter City, State Year. Industrial Report City, State Year Sacramento Valley Offices in Burlingame, Los Altos, Monterey, Oakland, Palo Alto, Pleasanton, Sacramento, Salinas, San Francisco, San Jose, San Rafael, Santa Cruz, Santa

More information

The Rise of the Gold Coast

The Rise of the Gold Coast Research & Forecast Report Long Island OFFICE MARKET Q1 2015 The Rise of the Gold Coast Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B In the first quarter of 2015, Long Island

More information

Rents Spike, Brightening the Second-Half Outlook

Rents Spike, Brightening the Second-Half Outlook Research & Forecast Report GREATER PHOENIX MULTIFAMILY Q2 217 Rents Spike, Brightening the Second-Half Outlook Key Takeaways > > The Greater Phoenix multifamily market recorded an active first half of

More information

Orange County Multifamily

Orange County Multifamily MARKET REPORT / Orange County Multifamily Employment Gains Driving Rental Demand, Low Vacancy Rates More than 2,600 units have come online to this point in, and nearly 5,000 apartments are currently under

More information

Suburban Boston Office MarketView

Suburban Boston Office MarketView Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 7.1% OCCUPIED SF 92.9M AVAILABILITY 20.3% SUBLEASE SF 2.6M UNDER CONSTRUCTION 1.6M *Arrows indicate

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

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

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

>> 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

>> 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 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

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

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

HOULIHAN LAWRENCE COMMERCIAL GROUP

HOULIHAN LAWRENCE COMMERCIAL GROUP HOULIHAN LAWRENCE COMMERCIAL GROUP TH QUARTER EXECUTIVE SUMMARY FOURTH QUARTER Dear Clients, With behind us and the new year in full swing, we can now reflect, summarize and gain insight from the past

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

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

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

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

2018: The Year of Office Sales

2018: The Year of Office Sales Research & Forecast Report RENO OFFICE Q4 2018 2018: The Year of Office Sales >> Multiple significant office sales over 10,000 square feet >> Large blocks of space returned to the market increasing vacancy

More 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

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

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

Vacancy Declines for Fifth Consecutive Quarter

Vacancy Declines for Fifth Consecutive Quarter Research & Forecast Report FAIRFIELD OFFICE Q1 Vacancy Declines for Fifth Consecutive Quarter > > Office Inventory: 5,056,025 > > Current Vacancy: 17. > > Net Absorption: +36,365 Solano and Napa counties

More information

FOR SALE 301 Walnut Street

FOR SALE 301 Walnut Street FOR SALE 301 Walnut Street Woodland, California C H U R C H B U I L D I N G Holy Rosary Parish is Pleased to Announce the Future Home of Holy Rosary Church at the Corner of W Cross Street & California

More information

Q2:11. Transwestern Outlook WASHINGTON, D.C.

Q2:11. Transwestern Outlook WASHINGTON, D.C. 11 Office Property Owners Invest in Renovating Older Product to Class A; Vacancy Edges Up as Rents Edge Down; Investment Sales Strong and Net Absorption Notable The District of Columbia office market experienced

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

2004 Oklahoma City Mid-Year Apartment Report. July 2004

2004 Oklahoma City Mid-Year Apartment Report. July 2004 Mid-Year Apartment Report July 2004 Providing professional apartment brokerage and marketing services in Oklahoma for over 19 years Aaron Hargrove 1831 East 71st Street Tulsa, Oklahoma 74136 Phone: 918.557.5966

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

SELF-STORAGE REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS. By: Steven J. Johnson, MAI, Senior Managing Director, IRR-Metro LA. irr.

SELF-STORAGE REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS. By: Steven J. Johnson, MAI, Senior Managing Director, IRR-Metro LA. irr. SELF-STORAGE REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS By: Steven J. Johnson, MAI, Senior Managing Director, IRR-Metro LA The Self Storage Story The self-storage sector has been enjoying solid

More information

The Industrial Market Cooled Off in Q1

The Industrial Market Cooled Off in Q1 Research & Forecast Report Long Island industrial MARKET Q1 2016 The Industrial Market Cooled Off in Q1 Rose Liu Director of Finance & Research Long Island Takeaways > > Long Island industrial market slowed

More information

Gaining Traction Gradually in 2018

Gaining Traction Gradually in 2018 Research & Forecast Report RENO OFFICE Q1 2018 Gaining Traction Gradually in 2018 >> Overall vacancy increased slightly to 12.3% >> Negative net absorption of 13,792 square feet >> Rental rates remained

More information

The Improvement of the Industrial Market

The Improvement of the Industrial Market Research & Forecast Report Long Island industrial MARKET Q2 2015 The Improvement of the Industrial Market Rose Liu Research & Financial Analyst Long Island Takeaways The overall economy on Long Island

More information

KEY TOWER SALE highlights start of 2017

KEY TOWER SALE highlights start of 2017 KEY TOWER SALE highlights start of 2017 Demand for office space in the Greater Cleveland office market remained strong as 2016 wound down and transitioned into the first quarter of 2017. After netting

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

Vacancy Edges Lower in Fourth Quarter

Vacancy Edges Lower in Fourth Quarter Research & Forecast Report FAIRFIELD OFFICE Q4 Vacancy Edges Lower in Fourth Quarter > > Office Inventory: 5,067,112 > > Current Vacancy: 14.2% > > Net Absorption: 63,610 The vacancy rate for office space

More 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

>> 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

The Corcoran Report 3Q17 MANHATTAN

The Corcoran Report 3Q17 MANHATTAN The Corcoran Report 3Q17 MANHATTAN Contents Third Quarter 2017 4/7 12/23 3 Overview 8 9 10 Market Wide 11 Luxury 24 4 Sales / Days on Market 5 Inventory / Months of Supply 6 7 Market Share Resale Co-ops

More information

Medical Takes a Sick Quarter

Medical Takes a Sick Quarter Research & Forecast Report LAS VEGAS MEDICAL OFFICE Q3 2015 Medical Takes a Sick Quarter > > After two quarters of growth, the medical real estate sector stalled in the third quarter of 2015 > > Asking

More 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

Leasing strength concentrated in new assets

Leasing strength concentrated in new assets MARKETVIEW Midtown Manhattan Office, Q4 216 Leasing strength concentrated in new assets Leasing Activity 4.25 MSF Net Absorption.62 MSF Availability Rate 11.8% Vacancy Rate 7.9% Average Asking Rent $8.18

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

>> 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

Joe Curtis, Managing Director CA RE License #

Joe Curtis, Managing Director CA RE License # OFFERING MEMORANDUM 7211-7351 Galilee Drive, Roseville, California EXCLUSIVE LISTING AGENTS: Joe Curtis, Managing Director 916.367.6354 jcurtis@newmarkccarey.com CA RE License #01338980 Louis Jones, Managing

More information

RALEIGH-DURHAM MULTIFAMILY Year End 2017

RALEIGH-DURHAM MULTIFAMILY Year End 2017 Research Report -DURHAM MULTIFAMILY Year End 2017 Multifamily Growth Expected to Continue in 2018, Despite a Moderate Decrease in Permitting Totals Emily Bostic Research Analyst Raleigh-Durham Key Takeaways

More information

Houston office market Sublease and activity overview

Houston office market Sublease and activity overview Houston office market Sublease and activity overview September, 2016 What you need to know about the current state of the Houston office sublease market 1. 2. 3. 11.9 million square feet of sublease space

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS KYLE BROWN RMLS Fellow, Master of Real Estate Development Candidate Amid some encouraging signs nationally, the Portland office market has maintained its stability, with the CBD

More information

Metropolitan Milwaukee Office Market Report Third Quarter 2015

Metropolitan Milwaukee Office Market Report Third Quarter 2015 Metropolitan Milwaukee Office Market Report Third Quarter 2015 RETAIL OFFICE INDUSTRIAL LAND INVESTMENT NAI MLG COMMERCIAL 414 347 9400 757 N BROADWAY, SUITE 700, MILWAUKEE, WI 53202 MLGCOMMERCIAL.COM

More information

Greenville is a tenant s market

Greenville is a tenant s market Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2018 Greenville is a tenant s market Crystal Baker Research Coordinator South Carolina Key Takeaways > > Large blocks

More 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

Metro Phoenix Retail, Office & Industrial Recovery

Metro Phoenix Retail, Office & Industrial Recovery Metro Phoenix Retail, Office & Industrial Recovery By Gary Ringel, CGREA, Director (480) 483-1170 ~ GaryR@hhcpa.com Statistics Indicate Decreased Vacancy Rates, Increased Lease Rates & Positive Absorption

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

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

Greater Phoenix Multifamily

Greater Phoenix Multifamily MARKET REPORT / Greater Phoenix Multifamily Apartment Rents Remain on an Upswing Highlights > > Conditions in the Phoenix multifamily market strengthened during the third quarter. Vacancy tightened and

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS ALEC LAWRENCE Portland State University The fourth quarter finds the Portland office market nearing a sweet spot for developers. Strong absorption, decreasing vacancy, and increasing

More information

MULTIFAMILY MARKET ANALYSIS

MULTIFAMILY MARKET ANALYSIS MULTIFAMILY MARKET ANALYSIS CLANCY TERRY RMLS Student Fellow Master of Real Estate Development Candidate At the national level, annual effective rent growth in the multifamily sector has displayed some

More information

Weighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators

Weighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2018 Weighing Options > > Office Inventory: 16,966,736 square feet > > Vacancy: 15 percent > > Net absorption: (35,823) square feet, year to date

More information

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