Omaha s Office Vacancy Rate Is The Lowest In 15 Years
|
|
- Jason Barber
- 5 years ago
- Views:
Transcription
1 Research & Forecast Report OMAHA OFFICE Second Quarter 2015 Omaha s Office Vacancy Rate Is The Lowest In 15 Years Availability in the Omaha Office Market continues to decrease as the vacancy rate contracted to 11.9 percent at the end of the second quarter of 2015, a reduction of 40 basis points from the prior quarter. This is the first time in 15 years the overall vacancy rate in the Omaha Office Market was below 12 percent. Positive absorption accelerated over the prior quarter and additional new construction was announced, supporting the conclusion; 2015 will be a strong year for the Omaha office market. The current vacancy rate is 470 basis points below independent research firm Reis reported 16.6 percent national office vacancy rate for the quarter and down 570 basis points from its high in 2009, at the peak of the recession. For the quarter, 119,721 square feet of office space was absorbed. In the first half of the year, absorption was 143,764 square feet. Also announced are the new administrative offices for Children s Hospital. This 30,000-square-foot structure will be constructed at 82nd & Cass Streets and proximate to Children s Hospital at 8200 West Dodge Road. Occupancy is planned for August of next year. Furthermore, the Omaha Track Headquarters, a railroad recycling company, announced the planned construction of their new headquarters consisting of 16,000 square feet and located at 129th & I Streets. The design will resemble a railroad depot. (Continued on page 2.) Market Indicators Relative to prior period Q Q3 2015* VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE** CBD Q Suburban Q Note: Construction is the change in Under Construction. * Projected ** Rental rates for current quarter are for CBD. Rent forecast is for metro-wide rents. Quarter Highlight: Historically Low Vacancy Rate As impressive are the statistics above, there were a number of major announcements of new construction. Leading these announcements is HDR s planned relocation to the CBD and constructing an story building consisting of 280,000 square feet and bringing 900 employees to its new location between 11th and 12th and Dodge & Capitol Streets with occupancy slated for January of Another project currently referred to as The Yard redevelopment will be located on a two-block parcel bound by 14th and 15th and Mike Fahey and Cuming Streets. The Yard will be a mixed-use development encompassing Kiewit s international training facility consisting of 63,000 square feet of office space, a 5-story, 110-unit apartment complex, and a 5-story, 125-room hotel. 25% 20% 15% 10% 5% 0%
2 Construction is well underway at two office properties in the West Village Pointe development at 177th & Burke Street including Berkshire Hathaway Real Estate s new 47,000-square-foot offices and the 42,000-square-foot Advent Building. Berkshire Hathaway Real Estate is relocating from Bank of the West Business Park. Both buildings are planned to be delivered for occupancy in the first quarter of The 106,000-square-foot Pacific Life building in Aksarben Village is well underway and should be delivered late this year. The 122,000-square-foot Think Whole Person Healthcare facility just east of 72nd and Center opened on July 6th and will serve in excess of 54,000 patients. Vacancy Rates 15% 12% 9% Tetrad Property Group has broken ground on their new 54,000-square-foot headquarter building located also in Aksarben Village. The Suzanne and Walter Scott Foundation will also be a tenant in the building. Nebraska Realty, formerly Deeb Realty is relocating into in its new 45,000-square-foot headquarters building on the northwest corner of 170th just north of West Dodge Road and is scheduled for move-in by the first of October. Another office building under construction is the Tagge Rutherford Building located at 158th & West Dodge Road. It will be 29,000 square feet and is scheduled for a late 2015 completion. Given all of this new construction, minimal new availabilities will occur as most of the construction announced is build-to-suits. 6% Q4 13 Q1 14 Combined Rental Rates $30 Q2 14 Suburban Q3 14 CBD Q4 14 Q1 15 Q2 15 For the quarter, the Midtown, Miracle Hills, and Suburban West Dodge submarkets were the leaders in positive absorption. By submarket, the Miracle Hills submarket shows the lowest vacancy rate in the Omaha Office Market. This popular submarket boasts a low 2.4 percent vacancy rate for the quarter. Other submarkets falling below the overall Omaha vacancy rate are Suburban West Dodge (3.2%), Central West Dodge (7.7%), Regency (8.1%), Midtown (8.6%), Downtown (9.7%), and Southwest (9.8%). The Northwest submarket remains soft with a vacancy rate of 18.8 percent primarily due to the relocation of CSG Systems and a couple of other firms vacating over 300,000 square feet in North Park. By class, Class A continues to out-perform other classes with a low vacancy rate of 4.5 percent. The vacancy rate for Class B buildings is 14.1 percent followed by Class C buildings at 20.3 percent. It should be noted that equilibrium within the market occurs when the vacancy rates are between percent and is defined where market conditions do not favor tenants or owners. Given that so many of the superior buildings are now occupied, the Omaha office market definitely now favors Landlord s properties which are well maintained and conveniently located. $25 $20 $15 Q4 13 Q1 14 Class A Q2 14 Class B Annual Absorption (in Thousands) $300 $250 $200 $150 $100 $50 225,788 62,833 Q ,651 Q ,255 Q ,762 Q ,404 The largest single transaction for the quarter was United Way of the Midlands move from its own building at 17th & Harney into 47,449 square feet in the Federal Reserve Building located at 22nd & Harney. Other large transactions for the quarter include Dial America s lease of 20,262 square feet at 9744 Mockingbird Drive; ENT s purchase of a 12,000 square foot condo in West Dodge Office Park; Olsson & Associates, Waitt Companies and Right at Home leasing approximately 25,000 square feet in Aksarben Village IV. While larger transactions drove the scope of absorption within the office market, there were also a significant number of smaller $0 $-50 $-100 $-150 (137,933) YTD 2 Omaha Research & Forecast Report Second Quarter 2015 Office Colliers International
3 transactions completed during the quarter which accelerates the velocity of the market. There were 26 transactions of 2,000 square feet or greater completed in the quarter which is in-line with the historical 10-year average of 25 transactions within this square footage range per quarter. Regarding move-outs and new vacancy, there were only a couple of larger move-outs. Fidelity Title vacated 65,000 square feet in Aksarben Village Building IV in their move to North Park. CBSHome vacated 13,217 square feet from Davenport Street as they continue to consolidate at 158th & West Dodge Road. The Omaha and Nebraska economies as a whole remain strong. Nebraska continues to have the lowest unemployment rate in the country with an unemployment rate of 2.6 percent at the end of June, a 10 basis point reduction from the end of the first quarter of this year. The latest unemployment rate for the Omaha MSA was 2.8 percent at the end of May, an 80 basis point reduction over May of All eyes were again on Omaha in June as the College World Series was televised nationally for 12 days and experienced some of the highest viewership on record. Attendance at the games set an alltime record. Omaha also some strong accolades come its way in the quarter. CNBC reported Omaha as the second best city in the country for Millennial College Students. WalletHub named Omaha as the 5th Best City to Work for a Small Business. The Orpheum Theater along with The Holland Center brought Omaha acclaim as the second best Theater Venues in the Midwest. And SmartAsset named Omaha as 8th best city for New College Grads. Beyond the office market, there are several high-profile developments or re-developments all over the city. Such projects include Google s $1 billion dollar data center expansion, StratCom s new facility at Offutt Air Force Base, the $350 million Fred and Pamela Buffett Cancer Center at the Nebraska Medical Center, Nebraska Medicine s new surgical center, the Madonna Rehabilitation Hospital at West Village Pointe and the new Baxter Arena which will host games for UNO s hockey, basketball and volleyball teams this Fall. Large industrial projects are under way in Sarpy County. In conclusion, conditions in the Omaha office market remain vibrant and activity is expected to be steady and positive over the next 12 months. Build-to-suits still dominate new construction. Furthermore, there are several major employers looking for additional space within the city. The full employment in the area is both a curse and a blessing. The city and its leaders will not lose sight of the reduced unemployment base in the Omaha Metro and watch for the Omaha business community to become more assertive and creative in retaining and attracting employees to the area. National Office Picture quarter at 16.6 percent, down from a year ago at 16.9 percent and 100 basis points below its high of 17.6 percent at its peak in Reiss reports vacancy compression stalled this quarter because net absorption was slightly outpaced by new construction. With the economy and the labor market continuing to improve, demand should outpace new construction by a wide margin over time, resulting in more rapid vacancy compression than has occurred to this point. Absorption increased by 8.15 million square feet for the quarter and year-to-date absorption is an impressive 15.6 million square feet; a 22 percent increase over the same period in New construction was 8.3 million square feet for the quarter which was mostly preleased, according to Reiss. Washington, D.C., remained the tightest office market with a vacancy rate of 9.6 percent followed by New York City and Downtown San Francisco at 10 percent. The national unemployment rate at the end of the second quarter was 5.3 percent, down 20 basis points from the prior quarter and 80 basis points from the same time in On a monthly basis over the first half of the year the average gains in employment were a healthy 208,000 jobs per month. Employment increased in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing. The largest decreases in employment were in government and the energy sectors. In conclusion, as long as the labor markets continue to recover and the Fed eases the expected increases in interest rates, we should expect an acceleration of the reduction of the vacancy rate in the national office market. The markets which are expected to experience the highest demand throughout the balance of 2015 are New York City, Boston CBD, the Bay Area and the CBD in Los Angeles. Office Investment Picture Sales of office properties are up 38 percent through May of this year over the same period in 2014 according to Real Capital Analytics. Average national cap rates stand at 5.1 percent for CBD assets and 6.8 percent for suburban assets. The largest transaction for the quarter was the sale of the Helmsley Building located at 230 Park Avenue in New York City for $1.2 billion or $990/per square foot. However, the Crown Building in NYC at 730 5th Avenue sold for $1.775 billion at an impressive $4,438 per square foot. Omaha recorded several notable office building sales in the quarter. The largest transaction was the sale of the former Millard Refrigeration Headquarters located at 4715 South 132nd Street encompassing 64,186 square feet for $4.5 million to the Eastern Nebraska Regional Agency on Humanity. Other significant sales were the 76,472-square-foot Burlington Postal Office located at 950 South 10th Street, sold for $1.45 million, and the 52,367-square-foot building located at 1515 South 75th Street sold for $3.75 million. On a national basis, Reis, an independent research commercial real estate firm, reported office vacancy was unchanged from the first 3 Omaha Research & Forecast Report Second Quarter 2015 Office Colliers International
4 Market Overview Omaha - Office Overview (Does not include owner occupied or medical-use buildings) VACANCY ABSORPTION CONSTRUCTION RENTS Total Vacancy Vacancy Net Absorption Construction Deliveries Under Const Asking Rent Submarket SF SF % Q2 SF 2015 SF Q2 YTD SF Class A Class B CENTRAL BUSINESS DISTRICT DOWNTOWN 4,719, , % 52,301 (3,293) $20.38 $17.85 CBD TOTAL 4,179, , % 52,301 (3,293) $20.38 $17.85 SUBURBAN CENTRAL W DODGE 2,474, , % (5,338) (32,637) $24.30 $19.28 MIDTOWN 1,989, , % (5,676) (1,773) ,300 $28.43 $17.84 MIRACLE HILLS 733,728 20, % 30,625 41, $19.75 $19.84 NORTHEAST 179,116 22, % (1,179) (567) NORTHWEST 1,662, , % 13,507 53, $18.66 OLD MILL 1,206, , % (9,625) 18, $18.49 REGENCY 987, , % (2,186) 2, $33.25 $20.81 SOUTH CENTRAL 2,225, , % 19,049 15, $25.00 $18.44 SOUTHEAST 1,027, , % $20.41 SOUTHWEST 1,415, , % (1,172) 8, $23.88 $18.52 SUBURBAN WEST DODGE 2,257,832 83, % 27,057 41, ,016 $28.17 $19.82 SUB TOTALS 16,196,589 2,035, % 67, , ,316 $26.03 $18.92 TOTALS 20,915,612 2,493, % 119, , ,316 $25.09 $18.86 BY CLASS Inventory Vacancy Net Absorption Construction Deliveries Under Const Available for Sublease SF SF % Qtr YTD Qtr YTD SF CBD Suburban CLASS A 6,502, , % 8,425 (46,763) , ,149 CLASS B 10,744,894 1,515, % 86, , ,300 27,343 65,769 CLASS C 3,668, , % 24,891 30, ,630 TOTALS 20,915,612 2,493, % 15.1% 119, ,316 27, ,548 Recent Transactions - LEASE AND SALE ACTIVITY Lessee/Buyer Lessor/Seller Property Size SF/Sale Price Milliman USA Security National Bank Three Pacific Place 19,133 Mutual of Omaha Douglas Emmett Managment, LLC Los Angeles, California 8,776 Hewlett-Packard Company IRET-MR9/Investors Real Estate Trust Farnam Executive Center 22,283 Wells Fargo Advisors California Place California Place 14,697 ENT Properties Country Life Insurance Co West Dodge Office Park $1,110,000 Eastern Nebraska Regional Agency on Humanity Millard (Refrigeration) Property Holdings LLC 4715 South 132nd Street $4,450,000 4 Omaha Research & Forecast Report Second Quarter 2015 Office Colliers International
5 502 offices in 67 countries on 6 continents United States: 140 Canada: 31 Latin America: 24 Asia Pacific: 199 EMEA: 108 MARKET CONTACT: Melissa Torrez Director of Market Research Omaha melissa.torrez@colliers.com CONTRIBUTORS: Barry Zoob Senior Vice President Mike Potthoff Vice President CONTACT US: Colliers International Omaha 6464 Center Street, Suite 200 Omaha, Nebraska USA $2.3 billion in annual revenue 1.7 billion square feet under management 16,300 professionals and staff About Colliers International Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals Global Outsourcing for 10 consecutive years, more than any other real estate services firm. colliers.com Copyright 2015 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
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 informationMedical Takes a Sick Quarter
Research & Forecast Report LAS VEGAS MEDICAL OFFICE Q3 2015 Medical Takes a Sick Quarter > > After two quarters of growth, the medical real estate sector stalled in the third quarter of 2015 > > Asking
More informationVacancy Increased Slightly During the First Quarter
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2016 Vacancy Increased Slightly During the First Quarter > Vacancy rates have been steadily declining since the fourth quarter of 2011.
More information2.8% 2.0% $811M. 2017: A Solid Year for the Metro Denver Office Sector HIGHLIGHTED METRO DENVER OFFICE. Market Report Q ECONOMIC TRENDS
Market Report METRO DENVER OFFICE Q4 2017 2017: A Solid Year for the Metro Denver Office Sector MARKET OVERVIEW Denver s office market finished 2017 with strong positive absorption during the fourth quarter
More informationCaution: Vacancy Increases Ahead
MARKET REPORT DISTRICT OF COLUMBIA OFFICE Fourth Quarter 2016 Caution: Vacancy Increases Ahead Market Indicators Q4 2016 2017 (Projected) NET Despite year-to-date negative absorption, the Washington, DC
More informationOffice Market Continues to Improve
Research & Forecast Report LAS VEGAS OFFICE Q3 2016 Office Market Continues to Improve > > Southern Nevada s office market is improving at a steady rate > > Net absorption has been positive in twelve of
More informationVACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20
Research & Forecast Report RENO OFFICE Q4 A Good Year Overall > Building sale prices are significantly higher than. > Seven buildings over 40,000 sf sold in, more than in previous years. > Many large office
More informationLow Vacancy Stimulates New Developments
Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2015 Low Vacancy Stimulates New Developments > > Multifamily vacancy dipped below 5 percent in the third quarter of 2015 ELECTRIC Meter Hookups NEW HOME
More information2018: A Ground Breaking Year
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q4 2017 2018: A Ground Breaking Year > Office inventory: 8,527,819 > Vacancy: 10.6 percent > Net absorption: 310,934 year-to-date The Northern
More informationRed Hot Rents & Cooling Vacancy
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2017 Red Hot Rents & Cooling Vacancy > > Office Inventory: 16,926,446 Square Feet > > Vacancy: 12.9 percent > > Net absorption: (380,946) Square
More informationShrinking Supply Continues To Push Rates
Research & Forecast Report STOCKTON SAN JOAQUIN COUNTY OFFICE Q1 2017 Shrinking Supply Continues To Push Rates > Office inventory: 8,221,819 > Vacancy: 10.5 percent > Net absorption: 49,103 year-to-date
More informationHomestretch: Office Market Set to Finish Strong
Research & Forecast Report RENO OFFICE Q3 2016 Homestretch: Office Market Set to Finish Strong >> Vacancy drops significantly the largest drop quarter over quarter in 2016 >> Rental rates are not increasing
More informationMANHATTAN OFFICE 2017
Research Report MANHATTAN OFFICE 2017 Accelerating success. % $ ± Market Indicators Full Year 2016 Full Year 2017 Y-O-Y Change AVAILABILITY RATE 10.3% 10.0% -0.3pp AVERAGE ASKING RENT ($/SF/YR) $73.24
More information+48.6 million sf office inventory
Research Market Report METROPOLITAN MILWAUKEE OFFICE 2018 Quarter 1 Research Wisconsin Introduction Following a strong second half of 2017, 2018 had a slow start. Despite an increase in vacancy and negative
More informationLand Sales Lighter in Third Quarter
Research & Forecast Report LAND Q3 216 Land Sales Lighter in Third Quarter > > While land sales are up in 216 overall, they decreased in the third quarter Economic Indicators > > Apex continues to dominate
More informationSwitching Gears NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2017 Switching Gears > > Office Inventory: 16,926,446 square feet > > Vacancy: 14 percent > > Net absorption: (562,879) square feet, year to date
More informationOffice Market Heats Up as Temperatures Cool
Research & Forecast Report RENO OFFICE Q3 2017 Office Market Heats Up as Temperatures Cool >>Vacancy decreased to 11.8% >>Positive net absorption of 36,041 square feet >>Construction is imminent with limited
More informationSoft Land Market in 2017
Research & Forecast Report LAND Q4 217 Soft Land Market in 217 > > Land sales in 217 fell behind 216 > > A lack of large sales at Apex brought the average price per square foot up > > Strong development
More informationLandlords Getting Aggressive
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2017 Landlords Getting Aggressive Ron Anderson Vice President of Administration South Carolina Key Takeaways > > Landlords
More informationEverything Old is New Again
MARKET REPORT OFFICE Second Quarter 2016 Everything Old is New Again Market Indicators Q2 2016 2017 (Projected) While the global economy remains on its Jekyll and Hyde path, the District s commercial real
More informationVacancy Edges Lower in Fourth Quarter
Research & Forecast Report FAIRFIELD OFFICE Q4 Vacancy Edges Lower in Fourth Quarter > > Office Inventory: 5,067,112 > > Current Vacancy: 14.2% > > Net Absorption: 63,610 The vacancy rate for office space
More informationResearch Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3. Introduction. Research Wisconsin. Market Indicators
Research Market Report METROPOLITAN MILWAUKEE OFFICE 2017 Quarter 3 Research Wisconsin Introduction NORTHWEST With one of the biggest investments made by a foreign company to the United States, Q3 started
More informationThe Industrial Market Cooled Off in Q1
Research & Forecast Report Long Island industrial MARKET Q1 2016 The Industrial Market Cooled Off in Q1 Rose Liu Director of Finance & Research Long Island Takeaways > > Long Island industrial market slowed
More informationThe Office Market Feels The Heat in Q2
Research & Forecast Report RENO OFFICE Q2 2017 The Office Market Feels The Heat in Q2 >>All major office submarkets have decreased vacancy and positive absorption this quarter >>The overall vacancy decreased
More informationRALEIGH-DURHAM MULTIFAMILY Q Unprecedented Investment Sales Crush All-Time Records in Research & Forecast Report.
Research & Forecast Report RALEIGH-DURHAM MULTIFAMILY Q4 2015 Unprecedented Investment Sales Crush All-Time Records in 2015 Market Indicators Relative to prior period - Q4 2014 - Q4 2015 Emily Bostic Research
More informationMultifamily Stable and Expanding
Research & Forecast Report LAS VEGAS MULTIFAMILY Q3 2017 Multifamily Stable and Expanding > > Multifamily vacancy decreased to 3.0 percent in the second quarter of 2017 Economic Indicators > > No new projects
More informationQuick Absorption of Newly Constructed Office Buildings
Research & Forecast Report CHARLESTON, SC OFFICE Q3 2016 Quick Absorption of Newly Constructed Office Buildings Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> The Interstate 526
More informationStronger 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 informationRALEIGH-DURHAM MULTIFAMILY MIDYEAR Demand at an All-Time High, Skyrocketing Same-Unit Rents. Research & Forecast Report.
Research & Forecast Report RALEIGH- MULTIFAMILY MIDYEAR 2015 Demand at an All-Time High, Skyrocketing Same-Unit Rents Market Indicators Relative to prior period VACANCY Raleigh-Durham JAN 2015 Raleigh-Durham
More informationStrengthening Market Fuels Investment Opportunities
Research & Forecast Report GREENVILLE, SC OFFICE Q3 2016 Strengthening Market Fuels Investment Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways >> Investment sale opportunities
More informationStrong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016
Research & Forecast Report NASHVILLE INDUSTRIAL 2nd Quarter 2016 Strong Industry and Robust Development Benefit Industrial Market at Mid-Year 2016 2Q 2016 Summary > > The tightening market coupled with
More informationLegal Industry: Bigger No Longer Better
MARKET REPORT DISTRICT OF COLUMBIA OFFICE First Quarter 2017 Legal Industry: Bigger No Longer Better After a strong end to 2016, leasing activity in the beginning of 2017 started with a whimper. Just two
More informationHolding Steady NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q2 2018 Holding Steady > > Office Inventory: 16,998,288 Square Feet > > Vacancy: 14.5 percent > > Net absorption: 25,027 square feet year-to-date
More informationRALEIGH-DURHAM OFFICE
Research Report RALEIGH-DURHAM OFFICE Q2 2018 Accelerate Success Triangle Continues to Grow, Future Office Deliveries Expected to Drive Leasing Activity Kelsey Rogers Research Analyst Raleigh- Key Takeaways
More informationGreenville is a tenant s market
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON SOUTH CAROLINA OFFICE Q2 2018 Greenville is a tenant s market Crystal Baker Research Coordinator South Carolina Key Takeaways > > Large blocks
More informationThe Improvement of the Industrial Market
Research & Forecast Report Long Island industrial MARKET Q2 2015 The Improvement of the Industrial Market Rose Liu Research & Financial Analyst Long Island Takeaways The overall economy on Long Island
More informationNashville the #5 Market to Watch in 2019
Research & Forecast Report NASHVILLE INDUSTRIAL 4 th Quarter Nashville the #5 Market to Watch in 2019 Industrial Market The industrial real estate sector is currently undergoing one of the greatest expansionary
More informationSolid Fundamentals Keep Nashville Industrial Market Competitive in 1Q
Research & Forecast Report NASHVILLE INDUSTRIAL 1st Quarter Solid Fundamentals Keep Nashville Industrial Market Competitive in 1Q 1Q Summary >> Nashville s industrial vacancy rate increased slightly in
More informationLeasing Activity Ticked Up with A Large Upswing of Absorption
Research & Forecast Report LONG ISLAND INDUSTRIAL MARKET Leasing Activity Ticked Up with A Large Upswing of Absorption Rose Liu Director of Finance & Research Long Island Takeaways > > The outlook of the
More informationOffice Market Remained Steady in Q4
Research & Forecast Report Long Island OFFICE MARKET Q4 2015 Office Market Remained Steady in Q4 Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Continuing the momentum, the Long
More information>What constitutes a. Big Box Vacancy Decreases for First Time in Two Years. CHICAGO BIG BOX First Quarter Research & Forecast Report
Research & Forecast Report CHICAGO BIG BOX First Quarter 018 Big Box Vacancy Decreases for First Time in Two Years Craig Hurvitz Vice President Chicago The vacancy rate for the Chicago market s big box
More informationHas The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.
Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross
More informationGreenville defies the nationwide trend of retail closures
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q3 2017 Greenville defies the nationwide trend of retail closures Crystal Baker Research Coordinator South Carolina Key Takeaways >
More informationInvestor Activity Spurs New Opportunities
Research & Forecast Report GREENVILLE ANDERSON SOUTH CAROLINA OFFICE Q1 017 Investor Activity Spurs New Opportunities Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Activity from
More informationMarket Research. OFFICE First Quarter 2010
colliers international LAS VEGAS, NV Market Research OFFICE First Quarter 2010 Market Indicators Net Absorption Construction Rental Rate Q1-10 Q2-2010 Projected Clark County Economic Data Jan-10 Jan-09
More informationWeighing Options NORTH I-680 CORRIDOR OFFICE Q % Research & Forecast Report. Market Indicators
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q4 2018 Weighing Options > > Office Inventory: 16,966,736 square feet > > Vacancy: 15 percent > > Net absorption: (35,823) square feet, year to date
More informationRALEIGH-DURHAM MULTIFAMILY. Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand. Research & Forecast Report.
Research & Forecast Report RALEIGHDURHAM MULTIFAMILY MidYear 2018 Multifamily Remains a Smart Play; Triangle Demographics Sustain Demand Ed Finley Research Analyst RaleighDurham Market Indicators Relative
More informationNew and improved approach to retail
Research & Forecast Report GREENVILLE SPARTANBURG ANDERSON, SC RETAIL Q4 2017 New and improved approach to retail Crystal Baker Research Coordinator South Carolina Key Takeaways > > Rents remain stable
More informationThe past year is better described as a year of
Omaha Office Market Report Omaha, Nebraska / January 2018 Omaha Office Market Conditions and Trends 2017 Office Market Underperforms Omaha s office market enjoyed a number of significant transactions in
More informationCHICAGO 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>> 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 informationDenver s Retail Sector Keeps Rolling 500, , , , , , , , ,000 50,000. Square Feet
Research & Forecast Report METRO DENVER RETAIL Q4 2017 s Retail Sector Keeps Rolling Market Overview Net absorption finished the second half of 2017 with strong positive numbers from s Central and Northwest
More informationGaining Traction Gradually in 2018
Research & Forecast Report RENO OFFICE Q1 2018 Gaining Traction Gradually in 2018 >> Overall vacancy increased slightly to 12.3% >> Negative net absorption of 13,792 square feet >> Rental rates remained
More information2018: The Year of Office Sales
Research & Forecast Report RENO OFFICE Q4 2018 2018: The Year of Office Sales >> Multiple significant office sales over 10,000 square feet >> Large blocks of space returned to the market increasing vacancy
More informationMarket Demands More Investment Product
Research & Forecast Report CHARLESTON INVESTMENT Q2 2016 Market Demands More Investment Product Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Investors are seeking opportunities
More informationQuiet Start to Second Half of 2017
Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q3 Quiet Start to Second Half of > The vacancy rate for the Tri-Valley continued its downward slope closing the quarter at 10.0 percent > Weighted
More informationTesting the Waters. ST. LOUIS OFFICE Second Quarter Research & Forecast Report. Market Indicators Q Q Q FORECAST
Research & Forecast Report ST. LOUIS OFFICE Second Quarter 2017 Testing the Waters In the second quarter 2017, an increasing number of Class A office property owners have begun testing the waters and placing
More informationA tight Columbia market may lead to office transformation
Research & Forecast Report COLUMBIA, SC OFFICE Q3 2018 A tight Columbia market may lead to office transformation Crystal Baker Research Coordinator South Carolina Key Takeaways > > The Columbia office
More informationRALEIGH-DURHAM OFFICE Q1 2017
Research & Forecast Report RALEIGH-DURHAM OFFICE Q1 2017 Office Market Remains Stable During First Quarter 2017; Class A Market Continues to Peak Emily Bostic Research Analyst Raleigh-Durham Market Indicators
More informationMarket Research. Market Indicators
colliers international LAS VEGAS, NV Market Research OFFICE Second Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q2-09 Q3-2009 Projected Clark County Economic Data UNEMPLOYMENT
More informationMarket Research. Market Indicators
colliers international LAS VEGAS, NV Market Research OFFICE Third Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q3-09 Q4-2009 Projected Clark County Economic Data Jul-09 Jul-08
More informationChanging of the Guard
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q1 2018 Changing of the Guard > > Office Inventory: 16,931,340 square feet > > Vacancy: 14.5 percent > > Net absorption: (88,606) square feet year-to-date
More information>> Asking Rents Increase As Space Remains Limited
Research & Forecast Report MID-COUNTIES INDUSTRIAL Accelerating success. >> Asking Rents Increase As Space Remains Limited Key Takeaways > Average asking rents increased $0.02 Per Square Foot (P) Triple
More informationOverall Industrial Market Off to Solid First Quarter; Flex Market Rebounding
Research & Forecast Report RALEIGH-DURHAM INDUSTRIAL Overall Industrial Market Off to Solid First Quarter; Flex Market Rebounding Emily Bostic Research Analyst Raleigh-Durham Key Takeaways > > The Triangle
More informationThe 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>> 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 informationSurging Rents Carry the North I-680 Corridor
Research & Forecast Report NORTH I-680 CORRIDOR OFFICE Q3 2018 Surging Rents Carry the North I-680 Corridor > > Office Inventory: 16,967,009 Square Feet > > Vacancy: 15.4 percent > > Net absorption: (103,748)
More informationNew Construction Offers Hope to Larger Users
Research & Forecast Report PLEASANTON TRI-VALLEY INDUSTRIAL Q3 2017 New Construction Offers Hope to Larger Users > Vacancy rates in the Tri-Valley industrial market are now down to a record 0.9 percent
More informationOffice Stays Positive
Q2 2014 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Stays Positive While it may not always be pretty, Southern Nevada s office market continues to improve. Net absorption increased in the
More informationMAR 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>> 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>> 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>> 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 informationRaleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come
Research Report RALEIGH-DURHAM INDUSTRIAL Q1 2018 Raleigh-Durham Demand Finally Catching Up With New Supply; More Deliveries to Come Key Takeaways > > The demand for industrial space in the Raleigh-Durham
More informationSlow start for Denver s Retail Sector 500, , , , , , , , ,000 50,000. Square Feet
Research & Forecast Report METRO DENVER RETAIL Q1 2018 Slow start for Denver s Retail Sector Market Overview After recording net absorption of more than 546,000 square feet during the previous quarter,
More informationSharper fall in office rents and capital values
Research & Forecast Report SINGAPORE OFFICE Q1 2016 Sharper fall in office rents and capital values Joanna Chen Manager, Research and Advisory The office market faces a critical juncture in the next few
More informationRALEIGH-DURHAM MULTIFAMILY Year End 2017
Research Report -DURHAM MULTIFAMILY Year End 2017 Multifamily Growth Expected to Continue in 2018, Despite a Moderate Decrease in Permitting Totals Emily Bostic Research Analyst Raleigh-Durham Key Takeaways
More information>> 2016 Off to A Good Start for Tri-Cities
Research & Forecast Report TRI-CITIES OFFICE Q1 216 Accelerating success. >> 216 Off to A Good Start for Tri-Cities Key Takeaways > The Tri-Cities office market saw vacancy decline for the seventh consecutive
More informationPositive 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>> Vacancy Rises With New Deliveries
Research & Forecast Report DOWNTOWN L.A. OFFICE Q1 217 Accelerating success. >> Rises With New Deliveries Key Takeaways > After seven consecutive quarters of declining or unchanged vacancy, the overall
More informationVacancy Rates Hit All-Time Low in Northern Nevada
Research & Forecast Report RENO INDUSTRIAL Q3 2018 Vacancy Rates Hit All-Time Low in Northern Nevada > > Vacancy is at an all-time low for the market at 4.86% > > A strong quarter for gross and net absorption
More informationNegative 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 informationSecond Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers
Q2 2013 OFFICE SUBURBAN MARYLAND SUBURBAN MARYLAND MARKET REPORT Second Quarter: Suburban Maryland s Uptick in has yet to be Realized in Numbers Updated May 2012 MARKET INDICATIONS Q2 2013 Q3 2013 (p)
More information>> 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 informationTime for Retail to Take Stock
Q1 2013 RETAIL LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Time for Retail to Take Stock It is heartening to say, after five years of a bad economy, that the first quarter of 2013 s 119,649 square feet
More informationSan Fernando Valley & Ventura County End 2015 On A Positive Note
OFFICE SAN FERNANDO & MARKET REPORT San Fernando Valley & Ventura County End 2015 On A Positive Note MARKET OVERVIEW MARKET INDICATORS - VACANCY 15.4% NET ABSORPTION 74,400 CONSTRUCTION 120,933 RENTAL
More information>> 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 informationSlow 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 informationMixed-Use Dominates Downtown Development
Research & Forecast Report GREENVILLE, SC OFFICE Q4 2016 Mixed-Use Dominates Downtown Development Bryana Mistretta Research Coordinator South Carolina Key Takeaways > > Mixed-use development has succeeded
More informationAmericas 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>> 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 informationHISTORICAL VACANCY VS RENTS. Downtown Los Angeles Office Market Q Q RENTS VACANCY $31 2Q10 2Q11 2Q12 2Q13 2Q14
www.colliers.com/losangeles OFFICE LOS ANGELES MARKET REPORT Rate Decrease Below 20% As Market Activity Remains Flat MARKET OVERVIEW MARKET INDICATORS - VACANCY 19.5% The Downtown Los Angeles market in
More informationYear End Deliveries Drive Leasing Activity In the Raleigh-Durham Market
Research Report RALEIGH-DURHAM OFFICE Q4 2018 Accelerate Success Year End Deliveries Drive Leasing Activity In the Raleigh-Durham Market Kelsey Rogers Senior Research Analyst Raleigh-Durham Market Indicators
More informationSan 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 informationVacancy Inches Higher, Despite Continued Absorption
Research & Forecast Report GREATER PHOENIX OFFICE 1Q 2017 Vacancy Inches Higher, Despite Continued Absorption Key Takeaways > > Improving conditions in the Greater Phoenix office market took a pause in
More informationSan 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 informationDisappearing Vacancy PLEASANTON TRI-VALLEY OFFICE Q % Research & Forecast Report. Market Indicators - Tri-Valley 77.
Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q3 Disappearing Vacancy > The office market vacancy continued its downward trend to 9.3 percent > Overall market weighted average asking rents held
More information> Overall vacancy increased to 12.3 percent from 10.8 percent previously. Vacancy. Construction. Rental Rate. *Projected $2.90 $2.70 $2.50 $2.
Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Sublease This! > Overall vacancy increased to 12.3 percent from 10.8 percent previously > Weighted average asking rents increased to $2.80 per square
More informationIndustrial Market Review
Q1 2012 industrial Stockton San JoAquin County, California research & forecast Report Industrial Market Review Momentum built-up from 2011 carried the industrial market into its fifth consecutive quarter
More informationRESEARCH & FORECAST REPORT
Q2 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Recovery Without Job Growth? Despite office employment still trending downwards, Southern Nevada s office market posted positive net absorption
More information