Page 1

2011

Coldwell Banker Commercial

Blue Book Mid Year Market Review


About the CBC® Blue Book The CBC® Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals of the Coldwell Banker Commercial companies within the local markets. In total, the Blue Book contains over 80 North American markets. The Blue Book highlights one of the strengths of the Coldwell Banker Commercial organization: our national footprint. The CBC organization’s strong local market coverage combined with our global reach helps our clients obtain real-time market information in order to make informed real estate decisions.

Sources of Information Each market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was pulled from EASI Demographics. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.


Table of Contents AL AL AR AR CA CA CA CA CA CA CA CA CA CA CO CO FL FL FL FL FL FL FL FL FL GA GA GA GA GA ID ID IL IL IL IL IN KS KY KY LA LA

- Dothan, Houston County - Montgomery County - Hot Springs - Little Rock - Inland Empire/Victor Valley - Los Angeles - Los Angeles, Westside - Modesto, Stanislaus County - Northern California/Bay area - Orange County - Redding - Sacramento - Temecula - San Fernando/San Gabriel Valley - Mesa County - Southwest - Daytona Beach-Ormond Beach - Florida Keys - Jacksonville - Lakeland-Winter Haven - Orlando - Port St. Lucie - Sarasota, Manatee, Charlotte Counties - South - Southwest - Athens - Atlanta - Atlanta Greater MSA - Dalton, Whitfield County - Savannah - Boise - Coeur d’Alene - Bloomington-Normal, McLean County - Champaign County - Chicago - Chicagoland - Delaware County - Kansas City Metro Area - Bowling Green - Louisville, Lexington & Elizabethtown - Lafayette - New Orleans

2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22

ME - Midcoast Region MN - Mankato MN - Minneapolis Metro MO - St. Louis Metro MT - Billings Metro NC - New Hanover County NC - Raleigh NE - Lincoln NJ - Cape May County NJ - Northern NM - Albuquerque NV - Carson City NV - Reno/Sparks NY - Albany NY - New York City ON - Greater Toronto Area OR - Portland OR - Salem PA - Northeastern PA - Southwestern Region SC - Charleston Metro SC - Columbia SC - Greenville/Spartanburg TN - Knoxville/East Tennessee TN - Metro Chattanooga, TN-GA TX - Austin TX - Brenham TX - Bryan-College Station TX - Fort Worth TX - Houston TX - Lubbock TX - San Antonio TX - South Central TX - Victoria County UT - Salt Lake County VA - Lynchburg WA - Clark County WA - Puyallup, Pierce County WA - South King County WA - Thurston County WI - Janesville/Beloit

23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 41 41 42 42 43


AL - Dothan, Houston County

Market Highlights

Demographics CBSA

Square Miles

Population

AL - Montgomery County

Dothan, AL

• Medical industry growth continues to fuel the economy.

CBSA

• College of Osteopathic Medicine to be constructed in southeast AL.

1,718

143,295

Market Highlights

Demographics

Square Miles

• Houston County continues as top Alabama county for out-shopping per capita.

Households

57,785

Household Income Average

58,837

• Cost of Living Index for Dothan one of the lowest in the nation.

Employees (Total)

58,833

• Last census showed significant population growth in city and county.

• Publix opens third grocery store within one year.

Montgomery, AL

2,725

Population

367,157

Households

147,017

Household Income Average

68,657

Employees (Total)

144,160

Unemployment

9.9%

Unemployment

10.5%

Total Consumer Expenditure

$2,897,311

Total Consumer Expenditure

$7,403,292

Contact

Contact

Coldwell Banker Commercial Alfred Saliba Realty 410 North Shady Ln. Dothan, AL 36303 (334) 793-6600 www.alfredsalibacommercial.com

Coldwell Banker Commercial Moore Company Realty 121 Coosa St. Suite 250 Montgomery, AL 36104 (334) 262-1958 www.cbcmcr.com

Office

Retail

Office

• According to a Moody’s Economy report, Montgomery ranks 32nd out of 387 U.S. metro areas in Employment Growth Rank projected for 2010-2015. Hyundai, Mobis, Hyundai Heavy, Kia, and expansion of the Mobile port have all contributed to this growth. • Montgomery ranked #8 for Potential Job Growth in Forbes Magazine’s 2010 Best Places for Business and Careers. • 200,000 SF Class A suburban former Colonial Headquarters lands its first major tenant since Colonial’s collapse. Hewlett Packard takes roughly 50,000 SF. • Retirement System’s of Alabama (RSA’s) new 400,000 SF Class A downtown building lands key tenant with BB&T taking signage rights and 11,000 SF. Office competition with RSA having State money to spend remains fierce. • Former class B Regions CBD Buildings enter the market for sale with little occupancy. • Class A CBD, former Colonial Financial Center (prior to Headquarters) back on the marketfor sale with about 70% occupancy.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

2


AR - Hot Springs

Market Highlights

Demographics CBSA

Square Miles

Population

Households

677

98,888

• A sales tax election will be held in October to fund a new $45M county jail.

43,175

56,350

Employees (Total)

32,750

Total Consumer Expenditure

8.4%

$2,214,734

Market Highlights

Demographics

• Construction is underway for a new Children’s Dental Clinic and a Medical Clinic adjacent to a major healthcare facility.

Hot Springs, AR

Household Income Average

Unemployment

AR - Little Rock

CBSA

Square Miles

Population

• New tenants in the area include Ross Dress, Newk’s Cafe, Home Goods and Logan’s Roadhouse. • Sales volume of residential properties is down but prices have remained steady in the area. • The unemployment rate has risen slightly to 8.4%. Enrollment at the community college has increased this year.

4,090

690,456

• Super Target opens to anchor Park Ave. Mixed-use development in Midtown; Residential and Restaurant components to follow, as well as more Retail Stores.

Household Income Average

71,848

Employees (Total)

290,765

• Three market-rate Apartment developments announced in mid-2011.

7.5%

• 280,000 SF Shackleford Crossings lifestyle center sells out of foreclosure for $40M+.

$14,773,932

• Nike and Apple stores join tenant roster at upscale Promenade at Chenal.

Total Consumer Expenditure

Contact

Coldwell Banker Commercial RPM 401 Section Line Rd. Hot Springs, AR 71913 (501) 520-4000 www.cbcrpm.com

Coldwell Banker Commercial Hathaway Group 2100 Riverdale Rd. Suite 100 Little Rock, AR 72202 (501) 663-5400 www.hathawaygroup.com

Retail

• Baptist Health joins medical migration to suburbs with 20 acre site acquisition.

276,042

Contact

Office

• 150,000 SF headquarters campus for Southwest Power Pool nears its Q2 2012 completion.

Households

Unemployment

• Local economy centers on tourism - the state’s largest convention center continues to increase scheduled events.

Little RockNorth Little Rock-Conway, AR

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

N/A

Vacancy

Vacancy

Absorption

Absorption

N/A

Absorption

Absorption

Rental Rates

Rental Rates

N/A

Rental Rates

Rental Rates

3


CA - Inland Empire/Victor Valley

Market Highlights

Demographics CBSA

Square Miles

CA - Los Angeles

Riverside-San BernardinoOntario, CA 27,260

Market Highlights

Demographics

• 65.4% increase in commercial sales and leasing volume in market area Q2 2011 over Q2 2010.

CBSA

Square Miles

Los AngelesLong BeachSanta Ana, CA 4,850

• Retail and Office continue with spotty rental weakness.

Population

12,935,173

Households

4,288,080

• Latest Wall Street and Washington announcements cause many to hit the “pause” button.

• Increase in land acquisition by builders and developers. Population

4,171,856

Households

1,350,253

Household Income Average Employees (Total)

67,386

1,156,307

• Increased demand for agricultural land. • Two Super Wal-Marts held ground-breaking ceremonies with three additional planned for construction in 2012. • Multi-Family average sales price PSF increased 15% Q2 - 2011 over Q1 - 2011.

• Investors have cash, but are not sure if we are yet at the bottom.

Household Income Average

87,517

Employees (Total)

5,313,010

• Not much observable growth (positive absorption minimal).

Unemployment

14.2%

Unemployment

11.6%

Total Consumer Expenditure

$74,545,969

Total Consumer Expenditure

$247,828,803

Contact

Contact

Coldwell Banker Commercial Real Estate Solutions 15500 W Sand St., 2nd Floor Victorville, CA 92392 (760) 684-8000 www.CBCdesert.com

Coldwell Banker Commercial WESTMAC 1515 Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700 www.westmac.com

Office

Retail

• Stronger property sectors are: Apartments, Medical Office, and Industrial.

Office

• Unlike 2008, there is more resiliency (and a bit more optimism).

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

4


CA - Los Angeles, Westside

Market Highlights

Demographics CBSA

Square Miles

CA - Modesto, Stanislaus County

Los AngelesLong BeachSanta Ana, CA

• Google leases 100,000 SF in Venice to house hundreds of employees.

4,850

• Multi-Family market very competitive in “A” areas.

Population

12,935,173

• Demand is high for quality assets in quality areas.

Households

4,288,080

Household Income Average Employees (Total)

Market Highlights

Demographics CBSA

Square Miles

• Demand is high for 100+ Apartment units.

87,517

• Residential and Mixed-Use developers hunt for prime land.

5,313,010

• Investment money all chasing the same product.

Modesto, CA

1,494

Population

517,685

Households

165,312

Household Income Average

62,281

Employees (Total)

160,100

Unemployment

11.6%

Unemployment

17.2%

Total Consumer Expenditure

$247,828,803

Total Consumer Expenditure

$9,093,539

Contact

Contact

Coldwell Banker Commercial NRT- Los Angeles 11999 San Vicente Blvd. Suite 100 Los Angeles, CA 90049 (310) 979-4990 www.cbcworldwide.com

Coldwell Banker Commercial Vinson Chase, Realtors 220-A Standiford Ave. Modesto, CA 95350 (209) 577-2121 www.cbcworldwide.com

Office

Retail

Office

• Stanislaus County is located in the Central Valley. It’s county seat is Modesto, which is where many people in the surrounding areas shop. • The major industry is AG-related, employing approximately 18,000 people or 11.3% of a total of 160,000 people who are employed. Unemployment varies based on the fact that most of the AG jobs are seasonal. • Shopping areas that are well located have been attracting new tenants with some major remodeling. Due to lack of new construction, the vacant space has been absorbed as needs arise. Kaiser Permanente built a major hospital complex with Memorial Hospital making a major expansion. • Major layoffs in government sector based on tax assessments being lowered by a downturn in real estate values. Leveling out has occurred and all are hoping real estate prices will start to rise in 2012. This will only come if the unemployment in the area starts to decline. • Office and Retail are improving in good centers and locations.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

5


CA - Northern California/Bay area

Market Highlights

Demographics CBSA

Square Miles

Population

CA - Orange County

San Jose-Sunnyvale, Santa Clara, CA 2,680

1,854,885

Households

628,862

Household Income Average

122,345

Employees (Total)

895,978

Unemployment

10.5%

Total Consumer Expenditure

$42,651,616

Market Highlights

Demographics

• Apple Inc. has expanded their presence in the area.

CBSA

• Tesla, the electric car company, has opened a retail location in Santa Row, San Jose as well as taking over the Nummi plant in Fremont.

Square Miles

• In general, new construction still remains slow but two new Multi-Family projects have been completed. • Due to the current economy, the number of short sales has risen as well the REA properties in general. • Since the Bay Area is a hightech market, the stock market does have a significant effect on market changes. The Bay Area is a leader in green technology and is benefitting from government support/funding.

Los AngelesLong BeachSanta Ana, CA 4,850

• Office market is still out but Retail and Industrial are showing signs of tightening.

Population

12,935,173

Households

4,288,080

• Residential absorption is still way off and market is flat.

Household Income Average

87,517

• Trophy properties are being snapped up, while B,C and D types are still sitting.

Employees (Total)

5,313,010

Unemployment

11.6%

Total Consumer Expenditure

$247,828,803

Contact

Contact

Coldwell Banker Commercial Bay 20490 Los Gatos Rd. Saratoga, CA 95070 (408) 835-7030 www.cbcworldwide.com

Coldwell Banker Commercial NRT - Newport Beach 4 San Joaquin Plz Suite 260 Newport Beach, CA 92660 (949) 644-1600 www.cbcworldwide.com

Office

Retail

• Irvine Company building a 380,000 SF build-to-suit for PIMCO in Newport Beach.

Office

• Very little new commercial construction except Multi-Family.

• The Orange County market has shown signs of stabilization in the commercial arena. There has not been a lot of new tenants or buyers entering the market just yet.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

6


CA - Redding

CA - Sacramento

Market Highlights

Demographics CBSA

Square Miles

Redding, CA

• Stillwater Business Park has 100+ acres in escrow.

CBSA

• Multi-Family market is strong.

3,785

Market Highlights

Demographics

Square Miles

Sacramento-Arden-Arcade-Roseville, CA 5,094

• Government leases dominating the office sector. Population

181,457

Population

• Industrial activity is generally sluggish. Households

71,491

Household Income Average

60,230

Employees (Total)

53,468

Unemployment

15.0%

Total Consumer Expenditure

$3,836,110

Contact Coldwell Banker Commercial C&C Properties 2155 Larkspur Ln. Redding, CA 96002 (530) 222-2011 www.cbcnorthstate.com

Office

Households

• Unemployment rate stuck at 15%. • Commercial foreclosures keeping downward pressure on values. • Overall health of the market is better than last year, but fundamental problems persist. High unemployment and slow housing market are keeping offices vacant (i.e. fewer title companies, loan offices, etc). 3 of the market’s 4 largest industrial buildings have been foreclosed (and remain vacant). • Retail has turned for the better with a nearly 3% drop in vacancy in 12 months. MultiFamily occupancy levels have remained stable and rents are rising, making this a safe-haven investment alternative. Financing remains difficult to obtain, but much improved over last year.

2,141,658

801,834

Household Income Average

77,526

Employees (Total)

727,825

• Prime Residential sold the 612unit Multi-Family property Slate Creek at Johnson Ranch in north suburban Roseville, for $76.5 million. • KBS Capital Advisors paid Opus West Corporation $47.4 million ($206 PSF) for 230,000 SF of Office in Gateway Corporate Center Buildings A and B. • HomeGoods and a Jo-Ann Fabrics and Craft stores, have signed on for a combined total of 45,590 SF, partially filling a former Mervyn’s space at Folsom Square. • The Promenade at Sacramento Gateway has landed Bed Bath & Beyond to fill a 28,000 SF anchor space.

Unemployment

12.3%

Total Consumer Expenditure

$46,256,089

Contact Coldwell Banker Commercial NRT - Sacramento 730 Alhambra Blvd. Sacramento, CA 95816 (916) 447-5900 www.cbcworldwide.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

7


CA - Temecula

Market Highlights

Demographics CBSA

Square Miles

Population

Households

CA - San Fernando/San Gabriel Valley

Riverside-San BernardinoOntario, CA 27,260

4,171,856

• There has been a slight drop in office vacancy rates (19.7% from 19.4%).

CBSA

Square Miles

• Average Office lease rates increased from $1.517 to $1.525

Population

• Industrial vacancy rates decreased from 9.8% - 9.3%

1,350,253

• Industrial lease rates declined from $0.478 to $0.475

Household Income Average

67,386

• Industrial lease rates have slid for 11 of the last 12 quarters.

Employees (Total)

1,156,307

Unemployment

Market Highlights

Demographics

Households

• There has been a slight increase in Retail vacancy from 9.6% – 10.1%

10.4%

Los AngelesLong BeachSanta Ana, CA 4,850

12,935,173

4,288,080

• Major tenants moving in: 99 Cents Stores - 622,000 SF; Nova Inc. - 259,000 SF, and Phoenix Warehouse 22,000 SF. • No new speculation development because of a 16.2% office vacancy rate. • Green Dot, an expansion of a credit card company, may lease 110,000 SF of Office space.

Household Income Average

87,517

Employees (Total)

5,313,010

• Many companies want to move to or remain in Pasadena because it has international name identification and superb retail amenities.

11.6%

• There has been a slight improvement in the market due to increased optimism.

Unemployment

• Port activity continues to drop. Total Consumer Expenditure

Total Consumer Expenditure

$74,545,969

$247,828,803

Contact

Contact

Coldwell Banker Commercial Sudweeks Group 27708 Jefferson Ave. Suite 201 Temecula, CA 92591 (951) 200-7683 www.cbcsuds.com

Coldwell Banker Commercial North County 801 N. Brand Blvd. Suite 180 Glendale, CA 91203 (818) 334-1900 www.cbcnco.com

Office

Retail

Office

• Medical and social media companies are expanding.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

8


CO - Mesa County

Market Highlights

Demographics CBSA

Square Miles

Population

CO - Southwest

Grand Junction, CO

3,328

• New major tenant moving into the market: Energy Capital of Western Colorado.

CBSA

Square Miles

• Retail continues to roll.

148,298

Households

60,317

Household Income Average

61,730

Employees (Total)

54,564

Market Highlights

Demographics Durango, CO

• T.J. Maxx to open in Durango.

1,692

• Downtown vacancies are decreasing. • Residential market showing significant improvement.

• Residential market finding a floor.

Population

• This wonderful community is working to ease business regulation and providing incentives for large employers to both grow and locate here. • Uranium, coal and natural gas exploration expands. • Local wineries had a banner year.

51,899

Households

21,722

Household Income Average

76,152

Employees (Total)

21,431

Unemployment

10.3%

Unemployment

7.5%

Total Consumer Expenditure

$3,278,410

Total Consumer Expenditure

$1,253,117

Contact

Contact

Coldwell Banker Commercial Prime Properties, LLC 550 Patterson Rd. Suite B Grand Junction, CO 81506 (970) 243-7375 www.grandjunctioncommercial.com

Coldwell Banker Commercial Heritage House Realtors 785 Main Ave. Durango, Colorado 81301 (970) 259-3333 www.realestatedurango.com

Office

Retail

Office

• New construction still lagging but more business inquires occurring and a few large projects are on the horizon. • Gas exploration is still an economic driver. • The number of airlines serving the area has increased, making Durango an easier and more economical destination for business and visitors. This includes several United and Frontier flights to Denver Daily, as well as American Eagle flights to Dallas.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

9


FL - Daytona Beach-Ormond Beach

Market Highlights

Demographics CBSA

Square Miles

DeltonaDaytona Beach-Ormond Beach, FL 1,103

Population

495,625

Households

214,567

Household Income Average Employees (Total)

Unemployment

Total Consumer Expenditure

FL - Florida Keys

62,419

146,482

11.0%

$11,430,585

Contact Coldwell Banker Commercial Benchmark 570 Memorial Cir. Suite 300 Ormond Beach, FL 32174 (386) 672-8530 www.cbcbenchmark.com

Office

Market Highlights

Demographics

• ARK Technology and OEM Auto Parts are using a fully-computerized CNC operation with 40 employees and new 45,000 SF manufacturing facility. • Five major universities, two of the top 10 high schools in the nation, and the third best school district in the southeast, are located in Volusia County. • Daytona Beach Live, 76,000 SF Office Complex for NASCAR and the Daytona Speedway World Center of Racing, home of the Daytona 500 has recently been developed. • Two brand new hospitals built. One had the first robotic surgery performed in the U.S., the other has the newest oncology center. Both hospitals represent 1,221 new beds in the area. • A new business incubator that is part of the University of Central Florida, is now open, and has a number one ranking in the nation for this type of program • 28 miles of beachfront with 15 miles in a core Resort-Hospitality related industry that has the infrastructure in place as well as pricing for the next movement in the market. The ResortVacation-Hospitality industry is up over last year to date.

Retail

CBSA

Square Miles

Key West, FL

997

• Walgreens, Dollar Tree, Mattress Firm are expanding or entering the market. • Vacancy is falling due to increased demand. • New Walgreens and Holiday Inn Express in the market.

Population

73,047

Households

32,553

Household Income Average

98,489

Employees (Total)

29,685

• Tourism is a major local industry and hospitality enjoys the highest ADR & occupancy in the state.

Unemployment

7.0%

• Significant development restrictions create high barriers to entry.

Total Consumer Expenditure

$1,953,037

• Prices are rising and inventory is falling; only about 10% of which is distressed.

Contact Coldwell Banker Commercial Schmitt Real Estate Company 11050 Overseas Highway Marathon, Florida 33050 (305) 743-5181 www.commercialfloridakeys.com

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

10


FL - Jacksonville

Market Highlights

Demographics CBSA

Square Miles

Population

FL - Lakeland-Winter Haven

Jacksonville, FL

3,221

1,334,380

Households

518,910

Household Income Average

76,866

Employees (Total)

551,254

Unemployment

10.3%

Total Consumer Expenditure

$28,590,862

• The Jacksonville Port Authority is continuing negotiations to purchase 23 acres of property on Talleyrand Ave across from the Port HQ building. The purchase price is reported to be $2M and should close in October 2011.

CBSA

Square Miles

• The St. Johns Town Center, consisting of 1.23M SF continues to attract new tenants to remain fully leased. The center will gain six new retailers this fall, and four of them are new to North East FL. • Ashburg LLC purchased an 18,462 SF office building in Marsh Landing Office Park for $2.25M or about $122 PSF. • The University of North Florida makes Number 19 on Forbes ‘Best Buy Colleges List.’ UNF ranked on the America’s Best Colleges 2011 list. • The top three public company employers for 2011 in NE Florida are: CSX Corp., Winn-Dixie Stores Inc., & Fidelity National Financial Inc.

Contact

Lakeland Winter Haven, FL 2,010

• Florida Southern College named “most beautiful campus in US” by Princenton Review. • USF Poly starts construction on 172-acre campus at I-4 & Polk Parkway -- rumored to be re-branded as Florida’s 1st polytechnical university.

Population

599,564

Households

233,208

Household Income Average

55,323

Employees (Total)

239,100

• Legoland Florida, which is scheduled to open October 15th -- hires 1,000 new employees.

Unemployment

11.7%

• CSX intermodal (300+ acres) in south Winter Haven to begin construction later in 2011.

Total Consumer Expenditure

$12,107,983

• Polk economy continues to lag. Brookings reports housing prices down 46.2% from peak.

• Publix supermarkets announces 2nd quarter sales of $6.6 billion, a 9.7% increase, and first half sales of $13.4 billion, a 5.7% increase.

• Lakeland-Winter Haven market has lagged the state, which has Contact lagged the nation. This presents excellent buying opportunities. Coldwell Banker Commercial Saunders Ralston Dantzler Realty Owner/user financing is readily 114 N Tennessee Ave. available at attractive rates. Lakeland, FL 33801

Coldwell Banker Commercial Benchmark • Several tenants have moved into 4348 Southpoint Blvd. Suite 310 large blocks of space: PNC Bank Jacksonville, FL 32216 57,865 SF and Fortegra Financial (904) 281-1990 www.cbcbenchmark.com - 48,864 SF.

Office

Market Highlights

Demographics

(866) 937-2246 www.SRDcommercial.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

11


FL - Orlando

FL - Port St. Lucie

Market Highlights

Demographics CBSA

Square Miles

Population

Orlando, Kissimmee, FL

3,491

• Industrial and Office have improved over the first two quarters.

CBSA

Square Miles

• Retail, while not improving, is at least flat.

2,093,845

Market Highlights

Demographics

• Office has 703,332 SF of new construction.

Port St. Lucie, FL

1,128

Population

407,361

169,340

Households

799,047

• More commercial REO properties are coming on the market.

Households

Household Income Average

70,380

• Commercial lending is beginning to return to normal.

Household Income Average

74,600

Employees (Total)

956,766

• Interest in investment with commercial real estate is improving.

Employees (Total)

117,662

Unemployment

Total Consumer Expenditure

10.4%

Unemployment

Total Consumer Expenditure

$43,646,748

12.5%

$9,326,748

Contact

Coldwell Banker Commercial NRT-Maitland 901 N Lake Destiny Dr. Suite 110 Maitland, FL 32751 (407) 539-1000 www.cbcworldwide.com

Coldwell Banker Commercial NRT-Port St. Lucie 1973 SW Savage Blvd. Port St Lucie, FL 34953 (561) 995-7564 www.cbcworldwide.com

Retail

• Two contracts have been executed on vacant land for the first time in several years. One parcel for office in St. Lucie West, and the second will be retail on U.S. One in Stuart, adjacent to Wal-Mart. • St. Lucie Economic Development Council is working on more deals than any time the in past five years. Several pharmaceutical companies want to locate near Torrey Pines and VGTI in Tradition in Port St. Lucie. • New office buildings are gaining tenants. 60,000 SF have been absorbed in St. Lucie West since last fall. • Small Retail locations are leasing at NNN rates between $7 PSF and $15 PSF. • Several restaurant chains have expanded to Port St. Lucie.

Contact

Office

• Two recent ten-year Retail leases signed this month in Port St. Lucie.

Office

• Flex space was overbuilt following 2004 hurricanes. The residential market is dead. Home prices are at 1999 levels. There are many start up businesses. Tenants are upgrading to better space within the city.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

N/A

Absorption

Absorption

Absorption

Absorption

N/A

Rental Rates

Rental Rates

Rental Rates

Rental Rates

N/A

12


FL - Sarasota, Manatee, Charlotte Counties

Market Highlights

Demographics CBSA

Square Miles

Population

Households Household Income Average Employees (Total)

Unemployment

Total Consumer Expenditure

FL - South

Sarasota, Bradenton, Venice, FL 1,313

689,676

311,173

79,698

230,801

Market Highlights

Demographics

• Office vacancy is on the rise.

CBSA

• Office space is at negative absorption. Square Miles

• Industrial lease rates and vacancy at a juxtaposition. Industrial seems to be the strongest market in this area, which reflects on more jobs.

Miami-Fort LauderdalePompano Beach, FL

• Multi-Family is the strongest sector of the market. • Retail, Office, and Industrial vacancy rates are declining.

5,126

• Absorption is positive across all markets. Population

5,566,404

• Residential markets are improving in ASP and units.

• Retail is steady.

Households

• Inventory for commercial is at six months. • In Sarasota and Manatee, the average time on the market for housing is from 18-22 months.

2,128,471

• Foreign investment is increasing. • Rental rates may have bottomed.

Household Income Average

82,033

Employees (Total)

2,069,525

• Multi-Family is strong in this market.

10.9%

$17,718,836

Unemployment

11.8%

Total Consumer Expenditure

$117,802,559

Contact

Contact

Coldwell Banker Commercial NRT- Sarasota 100 N Tamiami Trl. Sarasota, FL 34236 (941) 925-8586 www.cbcworldwide.com

Coldwell Banker Commercial NRT- Boca Raton 3837 NW Boca Raton Blvd. Suite 200 Boca Raton, FL 33431 (561) 479-1225 www.cbcworldwide.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

13


FL - Southwest

Market Highlights

Demographics CBSA

Square Miles

GA - Athens

Naples-Marco Island, FL

2,025

Market Highlights

Demographics

• Arthrex is expanding; buying 240,000 SF warehouse and building 120,000 SF manufacturing location.

CBSA

Square Miles

Athens-Clarke County, GA

1,031

• Vacancies slowly dropping. Population

Households

320,101

132,487

Household Income Average

118,854

Employees (Total)

115,960

• New construction of commercial product is almost non-existent until home construction picks up.

Population

• Inventory is way down and sales are up. • $1,000,000+ homes and condos are rising in price.

193,495

Households

77,486

Household Income Average

57,618

Employees (Total)

60,760

Unemployment

11.3%

Unemployment

8.4%

Total Consumer Expenditure

$8,298,345

Total Consumer Expenditure

3,833,666.80

• According to University of Georgia President Michael Adams, UGA enrollment is at an all-time high and the class of 2015 is likely to be the largest freshman class in the school’s history. • The University of Georgia and the Medical College of Georgia have partnered to establish an Athens campus that will be located on the 58-acre former U.S. Navy Supply Corps property in Athens, GA. • Tripp Umbach, a medical education planning organization, estimates that at least $180 million will be invested commercially as a result of medical research growth in the Athens area.

Contact

Contact

Coldwell Banker Commercial NRT- Naples 550 Fifth Ave. South Naples, Florida 34102 (239) 596-6130 www.cbcworldwide.com

Coldwell Banker Commercial Upchurch Realty 2405 W Broad St. Athens, Georgia 30606 (706) 354-7870 www.upchurchrealtycommercial.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

14


GA - Atlanta

GA - Atlanta Greater MSA

Market Highlights

Demographics CBSA

Square Miles

Population

Households

Atlanta-Sandy Springs, Marietta, GA

• Clorox’s move out of 607,650 SF was the largest in the 2nd quarter.

CBSA

8,376

• Office absorption totaled nearly 400,000 SF in the 2nd quarter.

Square Miles

5,521,582

• Cox Communication’s build-tosuits are the only significant buildings under second quarter construction.

Population

2,028,400

Household Income Average

77,990

Employees (Total)

2,223,339

Market Highlights

Demographics

Households

• 15,000 to 40,000 SF moveins included Agilysys, Kaiser Permanente, North American Electric Reliability Corporation, ThyssenKrupp IT and Turner Broadcasting.

Atlanta-Sandy Springs, Marietta, GA 8,376

5,521,582

2,028,400

Household Income Average

77,990

Employees (Total)

2,223,339

• Office rental rates decreased for the 11th time in 12 quarters. Unemployment

9.9%

Total Consumer Expenditure

$110,119,865

• Over the past four quarters, a total of 167,416 SF of Retail space has been built in Atlanta.

Unemployment

9.9%

Total Consumer Expenditure

$110,119,865

Contact

Contact

Coldwell Banker Commercial Metro Brokers 3575 Piedmont Rd. NE Piedmont Center Building 15, Suite 950 Atlanta, GA 30305 (678) 320-4800 www.cbcworldwidemetro.com

Coldwell Banker Commercial NRT-Atlanta 6285 Barfield Rd. Suite 100 Atlanta, Georgia 30328 (404) 705-1590 www.cbcworldwide.com

Office

Office

Retail

• Wells Fargo Bank signed a lease to occupy 38,197 SF, which included an expansion of 21,540 SF. • Lack of supply and new construction in Multi-Family has pushed rents higher and vacancies lower. • Retail has seen a net absorption of 134,000 SF. • The first quarter of 2011 saw office building sales prices rise to $183 PSF, compared to the same period in 2010 at $143 PSF. • The overall market continues to firm up with increased activity in most sectors. • According to the National Association of Women Business Owners, Georgia/Atlanta ranks number one in percent growth in number, employment and sales for women-owned firms. • The Atlanta MSA consists of 28 counties, over 7 million in population and includes the world’s busiest airport, superior intermodal connections making it the distribution hub for the southeast; Atlanta’s median household income is 13% higher than the national average.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

15


GA - Dalton, Whitfield County

Market Highlights

Demographics CBSA

Square Miles

Population

Dalton, GA

634

134,366

Households

46,872

Household Income Average

60,458

Employees (Total)

64,498

Unemployment

GA - Savannah

12.1%

Market Highlights

Demographics

• Carbondale Business Park, a 184-acre public-owned Industrial/Commercial Park is under construction. Located just off I-75 with available lots from 3-50 acres with all utilities.

CBSA

Square Miles

• XL Brands, LLC, a subsidiary of Textile Rubber Corp. is expanding its production and shipping capacity with the purchase of 16.3 acres in the Carbondale Business Park. Construction has already started on a new 122,000 SF facility. • Engineered Floors, LLC., a carpet manufacturer, has purchased 52 acres in South Whitfield County to build a 211,000 SF facility with plans for future expansion.

Savannah, GA

1,359

• Gulfstream Aerospace plans a $500 million expansion to add 1,000+ jobs to the market. • 2011 Savannah Tourism Industry outpacing 2010 record year.

Population

347,453

Households

130,609

Household Income Average

74,653

Employees (Total)

129,296

Unemployment

9.5%

Total Consumer Expenditure

$6,804,089

• Mitsubishi Power Systems growing faster than expected. • Plans for river deepening in anticipation of Savannah Port Expansion. • Savannah ranks as a Top 5 container port in the United States. • JCB officially marks 65th anniversary as robust earnings are restored.

• New Kohl’s opening Fall of 2011. Total Consumer Expenditure

$2,494,255

Contact Coldwell Banker Commercial Kinard Realty 704 S Thornton Ave. Dalton, GA 30720 (706) 226-1985 www.cbcnorthgeorgia.com

Office

• Upscale Retail development sites available. • Dalton State College contributed nearly $115 million into the regional economy according to the University System of Georgia.

Contact Coldwell Banker Commercial Platinum Partners 128 Habersham St. Savannah, GA 31401 (912) 232-7120 www.cbcplatinum.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

N/A

Absorption

Absorption

Absorption

Absorption

N/A

Rental Rates

Rental Rates

Rental Rates

Rental Rates

N/A

16


ID - Boise

ID - Coeur d’Alene

Market Highlights

Demographics CBSA

Square Miles

Boise CityNampa, ID

11,788

Population

610,611

Households

224,823

Household Income Average

69,877

Employees (Total)

232,386

Unemployment

Total Consumer Expenditure

9.5%

$12,789,857

Office

Coeur d’Alene, ID

• Major grocery store expansion in the Boise area is the top retail story for 2011. New to the market are Whole Foods and Rosauers Supermarkets. Fred Meyer and Wal-Mart continue to expand and generate a positive buzz throughout the community.

Square Miles

Population

140,628

• A slight decline in overall vacancies is due to the increased activity among local, regional and national tenants.

Households

53,154

Household Income Average

62,733

Employees (Total)

49,226

CBSA

• Overall market is beginning to stabilize. • Plenty of REO inventory.

1,245

• Leasing has picked up in 2011.

• Government work led the pack with 37 new projects, including road and educational-related projects. Private construction increased this year with 27 new projects. Office/Retail dipped a bit with a total of 5 new projects. • Housing prices continue to decline, with current median home sale prices below the 2005 level in all submarkets.

• The Boise area has seen modest improvements over the last year. Manufacturing has been Contact performing well and services like Coldwell Banker Commercial Healthcare and Retail are starting NRT- Salt Lake City to experience job growth. 6550 South Millrock Dr., Suite 200 Salt Lake City, UT 84121 (801) 947-8300 www.coldwellutah.com

Market Highlights

Demographics

Unemployment

10.5%

Total Consumer Expenditure

$2,933,601

• Development is limited to buildto-suit activity.

Contact Coldwell Banker Commercial Schneidmiller Realty 2000 Northwest Blvd. Coeur d’Alene, ID 83814 (208) 765-4300 www.cbcsr.com

• Unemployment is showing signs of stabilization.

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

17


IL - Bloomington-Normal, McLean County

Market Highlights

Demographics CBSA

Square Miles

Population

Households

IL - Champaign County

BloomingtonNormal, IL

1,184

168,918

70,687

Household Income Average

73,184

Employees (Total)

69,980

• Forbes rates BloomingtonNormal #22 on the list of best small places for business and careers.

CBSA

Square Miles

• Retail sales up over 3% in the first quarter.

Population

• Both major healthcare organizations have building expansion projects underway. • Mitsubishi Motors is adding a new car model to its production line, thus stabilizing employment. • Campus housing development at Illinois State University is active. • Heartland Community College purchased 100 acres for future growth.

Unemployment

7.0%

Total Consumer Expenditure

$4,038,011

Market Highlights

Demographics ChampaignUrbana, IL

• Carle Hospital has begun work on a North tower expansion.

1,923

• The Office vacancy rate has begun to stabilize.

227,494

Households

97,325

Household Income Average

61,774

Employees (Total)

80,156

Unemployment

8.6%

Total Consumer Expenditure

$5,136,400

Contact

Contact

Coldwell Banker Commercial Heart of America Realtors 802 S Eldorado Rd. Bloomington, IL 61704 (309) 662-3377 www.cbhoacommercial.com

Coldwell Banker Commercial Devonshire Realty 201 W Springfield Ave. Champaign, IL 61820 (217) 352-7712 www.cbcdr.com

Office

Retail

Office

• New retailers have become more active looking for space. • The developer of the UI Research Park has been awarded a contract extension for the next phase of the park. • University Ave. streetscape improvements are underway.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

18


IL - Chicago

IL - Chicagoland

Market Highlights

Demographics CBSA

Square Miles

Chicago, Naperville, Joliet, IL-IN-WI 7,212

Population

9,617,804

Households

3,484,370

Household Income Average

88,029

Employees (Total)

4,186,171

Unemployment

Total Consumer Expenditure

10.1%

$201,753,353

Contact Coldwell Banker Commercial NRT- Northbrook 2215 Sanders Rd. Suite 350 Northbrook, IL 60062 (847) 313-4646 www.cbcnrtchicago.com

Office

Market Highlights

Demographics

• The Chicago Industrial market, which is one of the largest in the country; had several large lease transactions and several large tenants move out of their space. The largest lease was 3M for 650,000 SF, and Share Your Soles Foundation (300,000 SF) was the largest tenant moving out of their space.

CBSA

Square Miles

• After two consecutive quarters of falling vacancies and increased absorption in Retail, Office and Industrial, there was an increase in vacancy in all three asset types, primarily in Industrial space. The Multi-Family market continued to remain strong with lower vacancies and higher rental rates. • There has been virtually no new construction of Retail or Office space in 2011 and almost all of the new construction completed has been build-to-suits or preleased. • The residential market has shifted. The rental market is very strong and sales of single family homes and condominiums continue to struggle. The value of homes have also continued to fall.

Chicago, Naperville, Joliet, IL-IN-WI

• Chicago apartments posted a 5% or less vacancy rate. • Retail, Multi-Family and Office construction has remained anemic for first half of 2011.

7,212

Population

9,617,804

• In all property types, only a handful of new construction has been brought to market.

Households

3,484,370

• The residential market continues to flounder through 2012.

Household Income Average

88,029

Employees (Total)

4,186,171

• Location, Location, Locationholds very true within the Chicagoland market. Many high profile Office, Retail, MultiFamily and Industrial sales have taken place and for the most part have been well-located, and in areas with increasing job opportunities.

Unemployment

10.1%

Total Consumer Expenditure

$201,753,353

Contact

• According to many reliable sources, the Chicagoland market is seeing a light at the end of the tunnel, and most likely will be an extremely active and profitable market very soon.

Coldwell Banker Commercial NRT- Northbrook 2215 Sanders Rd. Suite 350 Northbrook, IL 60062 (847) 313-4646 www.cbcnrtchicago.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

19


IN - Delaware County

Market Highlights

Demographics CBSA

Square Miles

KS - Kansas City Metro Area

Muncie, IN

• Absorption of suburban Office space is positive.

Square Miles

• IBM expands call center in Daleville, IN.

Population

115,425

Households

48,625

• Absorption of Industrial space is positive.

Household Income Average

55,245

• Retail absorption is slow and rent rates decline slightly.

42,446

• Vacancy in CBD Office remains high. Rents are trending down.

Employees (Total)

CBSA

• County Economic Development Arm building new Industrial shell building.

393

Population

• Overall activity has increased. Tenants and buyers are returning to the market to take advantage of depressed lease rates and prices.

Unemployment

10.1%

Total Consumer Expenditure

2,493,688.50

Market Highlights

Demographics Kansas City, MO-KS

8,696

2,332,148

Households

819,900

Household Income Average

75,785

Employees (Total)

914,989

• The Kansas City Metro Region consists of 15 counties with an estimated population of 2,332,148, and 8,696 square miles. • The Kansas City Region has the nation’s largest Foreign Trade Zone. • Non-residential building construction is up 52% over the same period last year in Johnson County, KS. • Google is constructing new ultra high-speed digital communications in both Kansas City, KS and Kansas City, MO.

Unemployment

8.5%

Total Consumer Expenditure

$46,391,185

Contact

Contact

Coldwell Banker Commercial Lunsford 3601 W Bethel Ave. Muncie, IN 47304 (765) 289-2228 www.coldwellbankercommerciallunsford.com

Coldwell Banker Commercial Fishman & Company 1948 E Santa Fe St. Olathe, KS 66062 (913) 782-9000 www.cbcfishman.com

Office

Office

Retail

• 60% of the nation’s animalhealth research and commerce takes place within 100 miles of the Kansas City region.

• Wyandotte County, KS is expecting over 300 million in commercial building permits in 2011.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

20


KY - Bowling Green

Market Highlights

Demographics CBSA

Square Miles

Population

KY - Louisville, Lexington & Elizabethtown

Bowling Green, KY

848

121,646

Households

50,840

Household Income Average

61,970

Employees (Total)

50,727

Market Highlights

Demographics

• The General Motors Corvette plant announced a $131 million expansion for its new Corvette model.

CBSA

Square Miles

• Bowling Green is a top-five location for business and careers, according to Forbes Magazine.

Population

Louisville, Jefferson County, KY-IN

• Some new regional retailers have come to Louisville.

4,135

• Borders closed three stores in the area.

1,263,217

• Office leasing is flat.

• Bowling Green is a Top-Ranked Metro by Site Selection magazine.

Households

• Residential market prices began to rise in the 2nd Quarter 2011. • Residential home sales are up.

506,857

Household Income Average

71,165

Employees (Total)

549,941

8.4%

Total Consumer Expenditure

$2,689,729

Unemployment

9.5%

Total Consumer Expenditure

$27,777,175

Contact

Contact

Coldwell Banker Commercial Legacy Real Estate Group 2435 Fitzgerald Industrial Dr. Suite 102 Bowling Green, KY 42104 (270) 781-3844 www.CBCLegacy.com

Coldwell Banker Commercial McMahan Co. 6402 Railroad Ave. Crestwood, Kentucky 40014 (502) 241-8811 www.cbmcmahan.com

Office

Retail

• Downtown arena (YUM Center) brings new buzz to downtown Louisville. • Ford recently hired 1,800 workers for their two plants in the area. • This market remains steady with some good employment news at Ford, a good Chamber of Commerce, a new basketball arena downtown and UPS as a major employer in the area.

• Western Kentucky University is located in Bowling Green, KY.

Unemployment

• Residential constructions is down.

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

21


LA - Lafayette

LA - New Orleans

Market Highlights

Demographics CBSA

Square Miles

Lafayette, LA

1,010

Population

264,966

Households

101,487

Household Income Average

72,004

Employees (Total)

139,997

Unemployment

Total Consumer Expenditure

8.1%

$5,316,929

Contact Coldwell Banker Commercial Pelican 806 E St. Mary Blvd. Lafayette, LA 70503 (337) 233-9541 www.cbcpelican.com

Office

Market Highlights

Demographics

• Offshore oil drilling has resumed with several permits issued since the oil spill. Three offshore platforms have been lost to foreign markets, but the net effect has been positive.

CBSA

Square Miles

• The BP Oil spill fund has helped in the recovery of the highly affected areas. The funding of the areas was the salvation for many small businesses, which otherwise would have been devastated.

Population

• Very few substantial real estate deals were done because of the spill. Most real estate deals were short-term leases for overmarket prices. • The market has stabilized now and is in a normal growth cycle. There is a shortage of industrial buildings and no speculative commercial construction of any type in this market.

3,153

1,230,886

Households

469,474

Household Income Average

83,382

Employees (Total)

458,428

Unemployment

Total Consumer Expenditure

• Medical investment in new hospitals and renovations to existing medical facilities has been strong for the past 12 months. This growth in medical should continue for the next several years.

New OrleansMetairie, Kenner, LA

8.0%

$24,830,976

Contact Coldwell Banker Commercial TEC Realtors 701 Loyola Ave. Suite 401 New Orleans, LA 70150 (504) 566-1777 www.cbctec.com

Retail

Office

• Ground broken on development of a $1.2 Billion 424-bed hospital just outside New Orleans. CBD to accommodate the region’s largest teaching hospital. • Ground broken on development of a new regional Veterans Administration Hospital adjacent to the new University Medical Center. • New Orleans Bio-Innovation Center open and operating upwards of 65,000 SF to provide space for start-up Bio-Tech Companies. • Benson Tower: the area’s first LEED certified Office Tower in CBD is now open, adding 500,000 SF of class A inventory to the New Orleans Office market. • 1,193-room Hyatt Regency to reopen on October 19, 2011. Provides over 200,000 SF of exhibition space, conference space, and nine restaurants; a monumental milestone in the postKatrina recovery. • RTA anticipates completing construction on expansion of street car line in New Orleans CBD to French Quarter. This is bringing more Retail, Hospitality, and Office development.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

22


ME - Midcoast Region

Market Highlights

Demographics CBSA

Square Miles

MN - Mankato

Rockland, ME

366

• Retail: Wal-Mart, Tractor Supply and a McDonald’s Restaurant plan to be opened in 2012.

40,753

Households

17,284

• Midcoast Maine continues to be discovered for its family lifestyle and growing economy.

65,601

Employees (Total)

15,971

• Midcoast Maine has long been a great area to work, play and raise a family.

7.8%

• Unemployment in the area is well below the state and national averages.

Total Consumer Expenditure

Square Miles

• Prices are experiencing a slight decrease, with an increase in the inventory of available singlefamily homes.

Household Income Average

Unemployment

CBSA

• Vacancy rates continue to fall due to lack of inventory.

Population

Market Highlights

Demographics

1,205

Population

93,650

Households

39,391

Household Income Average

63,447

Employees (Total)

49,122

Unemployment

Total Consumer Expenditure

$956,887

Mankato-North Mankato, MN

5.9%

$2,158,743

Contact

Coldwell Banker Commercial SoundVest Properties 147 Park St. Rockland, ME 04841 (207) 596-7478 www.soundvest.com

Coldwell Banker Commercial Fisher Group 1400 Madison Ave. Suite #616 Mankato, Minnesota 56001 (507) 625-4715 www.cbcfishergroup.com

Retail

• Retail vacancy continues to be low due to a lack of over-development in our community prior to the recession. • Coldwell Banker Commercial Fisher Group has been contracted to develop a 30,000 SF Industrial property for Volk Transfer. • There has been an increase in quality investment property listings.

Contact

Office

• Coldwell Banker Commercial Fisher Group office recently leased 16,000 SF in the Mankato City Center to Mayo Clinic Health Systems. As a result, Office vacancy in the downtown area is considerably lower than in the past several years.

Office

• Several larger Industrial properties have come on the market in 2011. This had previously been an area in which there were very few existing options for tenants/ owners. • Greater Mankato recently became an MSA. This designation will further establish the community as one of the key areas in which to locate a business in Minnesota.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

23


MN - Minneapolis Metro

Market Highlights

Demographics CBSA

Square Miles

MO - St. Louis Metro

MinneapolisSt. Paul, Bloomington, MN-WI 6,063

• Uline continues to move forward with plans to move its distribution facility from Eagan to a new 640,000 SF warehouse and Office building in Hudson, WI.

Population

3,286,547

• Regency Centers closed on 125,000 SF Rockridge Center anchored by Cub Foods.

Households

1,267,913

• Minneapolis Apartment rents continue to increase.

89,359

• Apartment and Grocery redevelopment making progress for downtown Jaguar site.

Household Income Average Employees (Total)

Unemployment

Total Consumer Expenditure

Market Highlights

Demographics CBSA

Square Miles

Population

Households

1,695,892

St. Louis, MO-IL

9,392

2,858,935

1,125,496

Household Income Average

74,314

Employees (Total)

1,261,660

Unemployment

9.0%

Total Consumer Expenditure

$61,986,258

• Office: Nestle Purina PetCare Co. is in the market for 100,000 SF. • Industrial: Express Scripts is expanding into a new 200,000 SF building in the Northpark development. • Nordstrom will open a 144,000 SF full-line store in the Saint Louis Galleria in Richmond Heights in September. • Retail: American TV & Appliance closed its four local stores (each 140,000 SF), and Borders’ books closed three stores of 30,000 SF each and is liquidating its remaining six stores.

6.9%

$77,327,395

Contact

Contact

Coldwell Banker Commercial Griffin Companies 615 First Ave NE, Suite 500 Minneapolis, MN 55413 (612) 338-2828 www.cbcgriffin.com

Coldwell Banker Commercial CRA LLC 8820 Ladue Rd., Suite 200 St. Louis, MO 63124 (314) 206-4600 www.cbcstl.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

24


MT - Billings Metro

Market Highlights

Demographics CBSA

Square Miles

Billings, MT

4,683

Population

155,673

Households

63,905

Household Income Average

68,486

Employees (Total)

69,806

Unemployment

Total Consumer Expenditure

NC - New Hanover County

• Base economic drivers; Agriculture, Petroleum, Healthcare, Mining and Tourism are seeing moderate expansion.

CBSA

Square Miles

• Area residential real estate has been impacted by national confidence factors but not local market factors. • New commercial and residential construction is off of its 20062007 highs but has rebounded in the 1st half of 2011. • Foreclosure activity has been minimal in both commercial and residential. • Regional financing has increased moderately over 2010 levels.

6.1%

$3,565,123

Market Highlights

Demographics

• Transaction activity indicates further expansion in all commercial economic area sectors.

Wilmington, NC

• Wachovia Mortgage vacates 90,000 SF.

1,924

• New 36,000 SF Office condo breaks ground.

Population

357,853

Households

151,270

Household Income Average

65,863

Employees (Total)

126,764

Unemployment

10.4%

Total Consumer Expenditure

$8,055,986

• Office is still very sluggish with major concessions being offered. Some concessions are as high as 50%. • Industrial is also weak, but there is a fair amount of activity. Distribution companies are the major players. • Retail seems to be on the mend. A number of retailers are taking advantage of the low rates. The pressure on securing the lease is the number of fixed rate renewals that the tenant is demanding. Percentage rents are often non-existent or extremely low percentages.

Contact

Contact

Coldwell Banker Commercial The Brokers 1215 24th St. Suite 240 Billings, MT 59102 (406) 656-2001 www.cbcmontana.com

Coldwell Banker Commercial Sun Coast Partners, LLC 1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403 (910) 350-1200 x5861 www.cbcsuncoast.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

N/A

Vacancy

N/A

Absorption

Absorption

Absorption

N/A

Absorption

N/A

Rental Rates

Rental Rates

Rental Rates

N/A

Rental Rates

N/A

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

N/A

Vacancy

N/A

Absorption

Absorption

Absorption

N/A

Absorption

N/A

Rental Rates

Rental Rates

Rental Rates

N/A

Rental Rates

N/A

25


NC - Raleigh

NE - Lincoln

Market Highlights

Demographics CBSA

Square Miles

Population

Raleigh-Cary, NC

2,116

1,143,659

Market Highlights

Demographics

• Many office tenants upgrading from B to A space, creating absorption in A class.

CBSA

Square Miles

• Flex space vacancy dropped for the first time in several quarters from 18% to 17.25%. • There is little to no commercial construction in the Triangle region; only one small office building, and two medical projects.

Households

452,721

Household Income Average

78,408

• One shopping center of 275,000 GLA under construction.

Employees (Total)

441,442

• Downtown Raleigh remains strongest submarket.

Lincoln, NE

• Retail and Office market moving in a positive direction. • National retailers are expanding to Lincoln: Trader Joe’s, and The Vitamin Shoppe.

1,414

Population

299,958

Households

126,751

Household Income Average

68,288

Employees (Total)

142,514

Unemployment

8.5%

Unemployment

4.1%

Total Consumer Expenditure

$25,677,307

Total Consumer Expenditure

$7,086,678

• New construction includes Nebraska Technology Park, (a joint project with the University of Nebraska), the University Foundation, and private sector investors. • New local businesses or instate businesses are filling the vacancies at shopping centers. • Lincoln has the 2nd lowest unemployment rate in the country.

Contact

Contact

Coldwell Banker Commercial TradeMark Properties 1001 Wade Ave. Suite 300 Raleigh, NC 27605 (919) 782-5552 www.cbctmp.com

Coldwell Banker Commercial Thompson Realty Group 5617 Thompson Creek Blvd. Suite 7 Lincoln, NE 68516 (402) 421-7700 www.cbcthompson.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

N/A

Absorption

Absorption

Absorption

Absorption

N/A

Rental Rates

Rental Rates

Rental Rates

Rental Rates

N/A

26


NJ - Cape May County

Market Highlights

Demographics CBSA

Square Miles

NJ - Northern

Ocean City, NJ

• Commercial values are becoming pragmatic.

CBSA

Households

• Residential foreclosures creating demand for Apartment rentals.

Population

19,124,092

• Courtyard by Marriott is the first new hotel in downtown Newark in over 3 decades.

Households

7,086,346

40,463

78,656

Employees (Total)

29,003

Total Consumer Expenditure

• Panasonic is relocating its headquarters to Newark.

6,726

95,922

Household Income Average

Unemployment

New YorkNorthern New Jersey-Long Island, NY

255 Square Miles

Population

Market Highlights

Demographics

Household Income Average

95,352

Employees (Total)

7,711,074

• Discounts on REO Properties are receding. • Apartments are strong, like they are everywhere. Most deals are being done direct, with the exception of development deals. • Demand in Multi-Family remains extremely high.

9.5%

$2,306,527

Unemployment

9.5%

Total Consumer Expenditure

$406,546,460

Contact

Contact

Coldwell Banker Commercial Sol Needles 512 Washington St. Cape May, NJ 8204 (609) 884-8428 www.cbcworldwide.com

Coldwell Banker Commercial NRT-Parsippany 1 Campus Dr. Parsippany, NJ 7054 (888) 829-0221 www.cbcnrtnewjersey.com

Office

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

N/A

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Vacancy

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Absorption

Rental Rates

N/A

Rental Rates

Rental Rates

Rental Rates

27


NM - Albuquerque

Market Highlights

Demographics CBSA

Square Miles

Population

Albuquerque, NM

9,288

863,887

Households

333,497

Household Income Average

65,279

Employees (Total)

313,234

Unemployment

Total Consumer Expenditure

NV - Carson City

8.2%

$18,367,936

Contact Coldwell Banker Commercial Las Colinas 4801 Lang Ave NE, Suite 100 Albuquerque, NM 87109 (505) 563-4650 www.lcrealty.com

Office

Market Highlights

Demographics

• Planet Fitness continues to expand in the metro area with five stores currently open and two more scheduled to open before the end of the year.

CBSA

Square Miles

• Dick’s Sporting Goods is entering the market, as is Panera Bread, and Chipotle Mexican Grill.

Population

Carson City, NV

• The market has seen a major drop in Industrial vacancy rate.

143

• Commercial sales volume is increasing.

55,156

• Rents stabilizing across all property types. • Leasing activity is strong.

• There are several new Office construction projects currently under way. Federal agencies and some local firms are building new facilities to accommodate growth. • The residential market remains flat with little new home construction and prices of existing homes remaining level. • Retail continues to rebound, as several new chains to Albuquerque are backfilling space left vacant by the exit of Mervyn’s, Circuit City, Linens & Things and Borders. • Unemployment remains below national levels.

Households

23,432

Household Income Average

69,548

Employees (Total)

25,284

Unemployment

12.5%

Total Consumer Expenditure

$1,324,454

• Commercial bank-owned properties are hitting the market. • Multi-Family market is making a comeback.

Contact Coldwell Banker Commercial Premier Brokers 223 S Division St. Carson City, NV 89703 (775) 888-6200 www.CBNevada.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

28


NV - Reno/Sparks

Market Highlights

Demographics CBSA

Square Miles

Population

Households

NY - Albany

Reno-Sparks, NV

6,606

420,676

164,527

Household Income Average

79,751

Employees (Total)

208,488

Market Highlights

Demographics

• New construction of a Toy’s “R” Us distribution center of 300,000 SF.

CBSA

Square Miles

• Mountain Shadow LLC defaults on a $35,000,000 note on an Apartment complex. • New construction of an Urban Outfitters distribution center of 460,000 SF. • Total Wine and More enters the Reno/Sparks MSA with 18,000 SF store. • Survey conducted by Clay & Associates shows confidence is building in the business environment.

Albany, Schenectady, Troy, NY 2,817

• ShopRite Supermarkets entering Albany, NY market.

Population

859,707

Households

358,803

• Construction of the Waters View Apartments, with 222 units on the Hudson River, is expected to have first tenants move in this December.

Household Income Average

73,105

Employees (Total)

351,131

Unemployment

13.0%

Unemployment

7.2%

Total Consumer Expenditure

$9,586,214

Total Consumer Expenditure

$20,261,924

Contact

Contact

Coldwell Banker Commercial Clay & Associates 5011 Meadowood Mall Cir. Suite 201 Reno, NV 89502 (775) 829-5900 www.cbcreno.com

Coldwell Banker Commercial Prime Properties 621 Columbia St. Cohoes (Albany), NY 12047 (518) 785-9000 www.coldwellbankeralbany.com

Office

Retail

• GlobalFoundries $4.6 billion chip fabrication plant is under construction in Malta, NY.

Office

• First Niagara Bank acquires 195 HSBC branches in upstate NY and CT.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

29


NY - New York City

Market Highlights

Demographics CBSA

Square Miles

Population

Households Household Income Average Employees (Total)

Unemployment

Total Consumer Expenditure

ON - Greater Toronto Area

New YorkNorthern New Jersey-Long Island, NY

• Conde Nast Publications took 1,046,260 SF in the World Trade Center.

CBSA

Square Miles

• No new construction in New York City’s Manhattan market since 3rd Quarter of 2010.

6,726

19,124,092

7,086,346

95,352

Market Highlights

Demographics

Population

• No new construction of any significance is anticipated until 1st Quarter 2013; where it is estimated in excess of 9,000,000 SF of construction taking place in the ensuing 18-month period.

Households

7,711,074

Toronto, Canada

2,279

5,555,912

• Vacancy is stabilizing as businesses are doing new leases. There has been little new construction.

1,800,000

• 700,000 SF of new office space, which represents about 2% growth.

Household Income Average

63,500

Employees (Total)

2,919,410

Unemployment

7.2%

Total Consumer Expenditure

$150,924,600

8.6%

$406,546,460

• Canadian Central Office markets delivered far better results in 2010 than expected. Toronto was the strongest city in North America. Canada’s Office markets are expected to see steady growth. Central market vacancies are at historic lows. Most of the downtown Office markets experienced gains during the downturn. • Industrial demand experienced clear improvements and rates are expected to increase.

• Retail: some retailers scaled back or closed their doors, but others Contact seized the opportunity to expand Coldwell Banker Commercial and/or introduce new formats. Integrity Real Estate, Brokerage Retail was the most sought-after 1384A Cornwall Rd. property among investors over Oakville, ON L6J7W5 the past year, equal to 31% of the (905) 338-8877 x228 www.cbci.ca overall investment volume.

Contact Coldwell Banker Commercial REalta Group 1430 Broadway, 9th Floor New York, NY 10018 (212) 344-0300 www.cbcrealta.com

Office

• Canadian Tire Acceptance moved in and took 25,000 SF of flex space.

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Vacancy

Vacancy

N/A

Absorption

N/A

Absorption

Absorption

Absorption

N/A

Rental Rates

N/A

Rental Rates

Rental Rates

Rental Rates

N/A

30


OR - Portland

OR - Salem

Market Highlights

Demographics CBSA

Square Miles

Population

Households Household Income Average Employees (Total)

Unemployment

Total Consumer Expenditure

Portland, Vancouver, Beaverton, OR-WA 6,684

• Overall, Multi-Family rents have been slowly but steadily rising and were up about $40/unit year-over-year.

CBSA

Square Miles

• Total Office building sales activity in 2011 is up compared to 2010.

2,261,246

878,239

73,445

952,611

Population

• The largest Retail project currently underway is Wilsonville Old Town Square, a 250,000 SF center that is approximately 60% pre-leased. • Retail cap rates have decreased in 2011, averaging 7.43% compared to the same period in 2010, when they averaged 8.54%. • In the Industrial sector, Intel is building a 1,800,000 SF building and Subaru is constructing a 413,700 SF facility that is 100% pre-leased.

9.2%

$50,356,316

Contact

• Industrial vacancy hovers around 9%, while Retail is a healthy 5.8% and Office is in the double digits at 11.0%.

Salem, OR

1,925

399,131

Households

148,354

Household Income Average

61,094

Employees (Total)

119,269

• Closings increased 10% during the first half of 2011 versus the last half of 2010. • Lease rates and property values are beginning to stabilize from the 25 - 30% compression throughout 2010. • New construction remains slow, although existing projects are leasing up, signaling the beginning of a new real estate cycle. • Two residential condominium projects (+/- 100 units) continue to struggle and search for a solution. • With the opening of Trader Joe’s, South Salem sees revitalization and enjoys renewed market activity.

Unemployment

10.0%

Total Consumer Expenditure

$8,037,740

Contact

Coldwell Banker Commercial Mountain West Real Estate 2545 SW Spring St. Suite 200 Portland, OR 97219 (503) 227-2934 www.cbcre.com

Office

Market Highlights

Demographics

Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St. SE, Suite 250 Salem, OR 97302 (503) 588-3508 www.cbcre.com

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

31


PA - Northeastern

Market Highlights

Demographics CBSA

Square Miles

PA - Southwestern Region

ScrantonWilkes-Barre, PA 1,747

Market Highlights

Demographics

• There is increased activity due to Marcellus Shale Industry (Wyoming, Susquehanna, Pike & Wayne counties).

CBSA

Square Miles

• Medical College (TCMC) is being built in Scranton.

Population

Pittsburgh, PA

• Steady growth in the Pittsburgh area.

5,280

• Stronger market than most of the country.

2,355,582

Population

549,920

Households

233,775

Household Income Average

58,775

Household Income Average

69,762

Employees (Total)

245,015

Employees (Total)

1,064,896

• Increased activity around Mohegan Sun Casino. Households

• Stable local real estate economy; median home prices falling slightly.

991,049

Unemployment

9.2%

Unemployment

7.4%

Total Consumer Expenditure

$12,418,233

Total Consumer Expenditure

$54,309,411

Contact

Contact

Coldwell Banker Commercial Town & Country 651 Northern Blvd. Clarks Summit, PA 18411 (570) 587-5550 www.cbcworldwide.com

Coldwell Banker Commercial NRT - Pittsburgh 9600 Perry Hwy. Suite 200 Pittsburgh, PA 15237 (412) 548-1064 www.cbcworldwide.com

Office

Retail

• Gas companies are buying and leasing properties.

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

32


SC - Charleston Metro

Market Highlights

Demographics CBSA

Square Miles

SC - Columbia

CharlestonNorth Charleston, SC 2,591

Population

665,272

Households

262,007

Household Income Average

72,395

Employees (Total)

253,170

Unemployment

9.8%

Total Consumer Expenditure

$13,814,976

Contact Coldwell Banker Commercial Atlantic International, Inc. 3506 W Montague Ave. Suite 200 North Charleston, SC 29418 (843) 744-9877 www.cbcatlantic.com

Office

Market Highlights

Demographics

• Trader Joe’s plans to open its first location in the Charleston Metro Area at the end of July, a 14,700 SF space, formerly an Antique Mall site.

CBSA

Square Miles

• Assembly of the first Boeing 787 plane at the new assembly plant in North Charleston is under way. • A reported 10 new Multi-Family developments are on the board for the region, with a combined rental unit count over 2,200. • The Port of Charleston sees its largest container ship to date, the 9,200-TEU MSC Bruxelles. This is heightening the anticipated increase of post-Panamax vessels once the Panama Canal expansion is completed in 2014. • Charleston Metro residential sales saw a 29% increase in July 2011 from July 2010. • The 2012 PGA Championship is being held at Kiawah Island Golf Resort and is expected to have an economic impact on the state of over $190 million.

Columbia, SC

3,701

Population

751,082

Households

300,796

Household Income Average

67,472

Employees (Total)

287,817

Unemployment

10.0%

Total Consumer Expenditure

$15,418,638

Contact Coldwell Banker Commercial United, Realtors 1711 Gervais St. Columbia, SC 29201 (803) 799-4663 www.cbccarolinas.com

Retail

Office

• The largest lease signings for the fist 6 months of 2011: Office - SC Chamber of Commerce 14,371 SF; Retail - Steinmart 31,675 SF; Industrial - Interstate Resource Group 185,600 SF. • Office and Retail have had positive absorption for the first two quarters of 2011 of 80,286 SF and 244,575 SF respectively. Industrial has had negative absorption of SF. • The Office market delivered two buildings totaling 6,000 SF in 2011 and there is 11,825 SF under construction. Retail delivered 8 buildings totaling 138,330 SF and there is 145,915 under construction. Industrial has delivered one building for 2,400 SF and has no new space under construction. • Columbia has shown a slight increase of 1.3% in median home prices, which could indicate some stabilization in the residential market. • Rental rates for Office and Retail have increased very slightly in 2011, while Industrial rates have decreased.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

33


SC - Greenville/Spartanburg

Market Highlights

Demographics CBSA

Square Miles

TN - Knoxville/East Tennessee

GreenvilleMauldin-Easley, SC

• Recently, there has been downtown Apartment and Office construction.

2,002

• TD Bank transition complete; Certus Bank comes to upstate.

Population

644,419

• GE driving green initiative with the City of Greenville.

Households

263,044

Household Income Average

64,851

Employees (Total)

288,021

CBSA

Square Miles

• Charleston Port deepening study-funding approved; upstate responsible for 60% of port activity. • Tangible spin-off business in the upstate has been a result of Boeing locating in Charleston. • BMW and Michelin continue to drive ICAR campus growth.

Unemployment

Total Consumer Expenditure

Market Highlights

Demographics

702,994

Households

297,456

Household Income Average

64,861

Employees (Total)

307,125

Total Consumer Expenditure

$13,898,824

1,857

Population

Unemployment

9.8%

Knoxville, TN

8.3%

$16,066,241

• Aldi and Academy Sports have broken ground for new stores in West Knoxville. • Cosco has plans approved for a new store in Farragut, a suburb in west Knox County, close to the ever growing Turkey Creek Retail Development. • Whole Foods has announced it will be opening its first store West Knoxville.

• Knoxville ranked 9th in Forbes’ 2011 “Best Cities for Jobs.”

Contact

Coldwell Banker Commercial Caine 200 East Broad St. Suite 200 Greenville, SC 29601 (864) 250-2000 www.cbccaine.com

Coldwell Banker Commercial Wallace and Wallace 124 N Winston Rd. Knoxville, TN 37919 (865) 690-1111 www.cbcww.com

Retail

• The Kroger Company has broken ground on a 117,000 SF Kroger Market Place plus 18,000 SF of local shops in West Knoxville.

• The Residential market continues a modest recovery.

Contact

Office

• Publix and Target have announced plans to locate in the new Northshore Town Center. Publix plans to have its second Knoxville location in the Turkey Creek Retail Development.

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

34


TN - Metro Chattanooga, TN-GA

Market Highlights

Demographics CBSA

Square Miles

Population

Households

Chattanooga, TN-GA

2,089

526,490

211,265

Household Income Average

62,455

Employees (Total)

208,265

Unemployment

Total Consumer Expenditure

TX - Austin

• Amazon has leased a 1 million SF building under construction for a new distribution center that will create 250 new jobs.

CBSA

Square Miles

• Wacker Chemie, a German company, has purchased 350 acres for a $5.4 billion new plant to manufacture hyperpure polycrystalline silicon. They will employ 650 new workers and is scheduled to open in 2013.

Population

Households

• Volkswagen has a new assembly plant that has begun production on the 2011 Passat. This plant has created 2,000 new jobs. • Whirlpool Corporation has broken ground on a new 1.4 million SF green production facility that will replace an older plant.

9.1%

$11,057,222

Contact Coldwell Banker Commercial Hamilton & Associates, LLC 2650 Peerless Rd. NW Cleveland, TN 37312 (423) 476-5535 www.hamiltoncommercial.com

Office

Market Highlights

Demographics Austin-Round Rock, TX

4,224

1,730,983

665,762

Household Income Average

74,027

Employees (Total)

622,577

Unemployment

7.6%

• 223,000 SF Macy’s at Highland Mall, which was bought by the Austin Community College District for $5 million ($22 PSF). The school later purchased the JC Penny’s at the mall and now owns all of it. • The 336-unit Colonial Grand changed hands for $28.4 million or $84,500 per unit. • $19.89 million in construction financing was originated for Lotus Village Apartments, a 222unit apartment community that will be located at 300 Ferguson Dr. in Austin. The community will consist of 10 three- or four-story buildings with an average 922 SF per unit. • Austin’s Crossroads Center sold for $14.25 M.

• Commercial activity has increased significantly in the last quarter.

Total Consumer Expenditure

• This market is positioned for tremendous growth in the next 5 years. In addition to Volkswagen, many automotive suppliers are relocating to the area.

$37,736,918

Contact Coldwell Banker Commercial United, Realtors 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

Retail

Office

• Austin Office vacancies are at the lowest point since 2008. • The 97,550 SF Jefferson Building in Austin sold for $13.5 million ($138 PSF).

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

35


TX - Brenham

TX - Bryan-College Station

Market Highlights

Demographics CBSA

Square Miles

Population

Brenham, TX

• Commercial is still sluggish.

CBSA

• Cash buyers of Land and Ranch increasing from Houston and Austin.

609

33,135

Market Highlights

Demographics

Square Miles

• Interest in new residential development is accelerating.

College StationBryan, TX

2,106

13,498

Household Income Average

61,055

Employees (Total)

12,090

• Multi-Family, Land and Ranch are leading real estate segments. • International interest is significantly increasing.

214,971

Households

88,655

Household Income Average

58,938

• Housing remains relatively flat.

Employees (Total)

60,491

• Office market remains stable with new construction around the Park Hudson development.

Unemployment

8.2%

Unemployment

7.3%

Total Consumer Expenditure

$688,949

Total Consumer Expenditure

$4,475,811

Contact

Contact

Coldwell Banker Commercial Southwest Partners 850 FM 390 Rd. E Brenham, TX 77833 (979) 421-9996 www.cbcsouthwestpartners.com

Coldwell Banker Commercial United, Realtors 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

Office

Retail

• Multi-Family is exceptionally strong. 3,000 units are either under construction or in the permitting phase.

Population

• Residential inventory is tight. Households

• Texas A&M building continues to be strong especially in the Health Science/Bio-Medical Fields.

Office

• Retail growth remains stable. New Lowes Center and H-E-B anchored centers are leasing up.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

36


TX - Fort Worth

Market Highlights

Demographics CBSA

Square Miles

Population

Households

TX - Houston

Dallas-Fort Worth-Arlington, TX 8,990

• The city plans $30 million in capital improvements to jump start redevelopment. The Lake Worth Vision land-use plan includes a Town Center sector that would help the revitalization of the Casino Beach area.

CBSA

Square Miles

6,521,652

2,375,452

Household Income Average

82,482

Employees (Total)

2,621,455

Market Highlights

Demographics

• $37m in financing has been made available for Broadstone Centreport, a 452-unit Apartment complex in Fort Worth. • Coppell Industrial Center, a 375,000 industrial building recently sold.

HoustonSugar LandBaytown, TX 8,928

Population

5,937,339

Households

2,084,052

Household Income Average

87,941

Employees (Total)

2,246,860

8.6%

Unemployment

9.0%

Total Consumer Expenditure

$135,840,719

Total Consumer Expenditure

$119,698,033

Contact

Contact

Coldwell Banker Commercial Searcy Vasseur Group 6323 Camp Bowie Blvd. Suite 101 Fort Worth, TX 76116 (817) 335-7575 www.cbcsvgroup.com

Coldwell Banker Commercial United, Realtors 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

Retail

• ExxonMobil confirms that it will construct an Office campus on 385 acres in North Houston, just south of the Woodlands. Construction will begin in 2014 with full-occupancy by late 2015. • NASA and the Houston-Clear Lake Market brace for impact of the retirement of the space shuttle program. • A study released by PWC ranked Houston #1 in the world in terms of cost of living advantage and purchasing power.

Unemployment

Office

• Chevron purchases a 50-story downtown office tower for $340 million from Brookfield Properties, who acquired the property for $120 million in 2006.

Office

• Oil prices continued their upward movement, reaching $114 before returning to more normalized levels. • Houston named “City of the Year” by Fast Company because of small business and entrepreneurial attraction.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

37


TX - Lubbock

TX - San Antonio

Market Highlights

Demographics CBSA

Square Miles

Lubbock, TX

1,799

Population

279,239

Households

111,087

Household Income Average

57,245

Employees (Total)

101,281

Unemployment

7.3%

Total Consumer Expenditure

5,682,097.2

Contact Coldwell Banker Commercial Rick Canup, Realtors 4924 S. Loop 289 Lubbock, TX 79414 (806) 793-0888 www.cbclubbock.com

Office

Market Highlights

Demographics

• Economist, M. Ray Perryman, President of the Perryman Group, indicated Texas in general, and Lubbock in particular, should be out of the gate fastest with a national recovery picking up momentum in the second half of 2011 with a growth rate of about 4.5% per year.

CBSA

Square Miles

Population

• Retail sales continue to show improvement and are up 3.5% over 2010’s year-to-date levels. Second quarter results for 2011 were almost 2% ahead of second quarter 2010. • The Texas Tech University System ranked 46th out of the nation’s Top 100 institutions as it attempts to complete its capital campaign of raising $1 billion by the end of 2013 – a ranking improvement of 14 spots over 2009. • Texas Tech University will partner with Sandia National Laboratories and Group NIRE to build and operate a new wind energy testing facility expected to be operational soon.

San Antonio, TX

7,340

• San Antonio is turning the corner; several undeveloped commercial tracts are moving. • Several Multi-Family acquisitions in 2011.

2,093,608

Households

749,986

Household Income Average

69,352

Employees (Total)

730,244

• Several strip shopping center transactions in the $10-$25M range in 2011. • $28M data center and $4.5M FEX distribution transactions in 2011. • Texas A&M breaking ground on new campus in San Antonio

Unemployment

8.1%

Total Consumer Expenditure

$41,231,261

• Bottoms close in Multi-Family while other segments are still searching for bottoms.

Contact Coldwell Banker Commercial Southwest Partners 850 FM 390 Rd. E Brenham, TX 77833 (979) 421-9996 www.cbcsouthwestpartners.com

• Construction has been completed on the $10.8 million, 112,000 SF corporate headquarters for Standard Sales Company.

Retail

Office

Retail

Vacancy

 

Vacancy

 

Vacancy

Vacancy

Absorption

 

Absorption

 

Absorption

Absorption

Rental Rates

 

Rental Rates

 

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

 

Vacancy

 

Vacancy

Vacancy

Absorption

 

Absorption

 

Absorption

Absorption

Rental Rates

 

Rental Rates

 

Rental Rates

Rental Rates

38


TX - South Central

Market Highlights

Demographics CBSA

Square Miles

Population

Households

TX - Victoria County

San Antonio, TX

• National Security Agency occupied a new facility.

7,340

• Medtronic moves its headquarters to San Antonio.

2,093,608

Market Highlights

Demographics CBSA

Square Miles

• Boeing continues expansion, with high employment.

Population

Victoria, TX

• Gold’s Gym and Pier One Imports announces new store openings.

2,248

• Retail occupancy remains unchanged.

115,980

• Caterpillar announces an additional facility.

41,805

• Housing market remains tight due to Eagle Ford Shale.

749,986

Households

Household Income Average

69,352

Household Income Average

66,662

Employees (Total)

730,244

Employees (Total)

41,963

• This market is headed for a housing shortage.

Unemployment

8.1%

Unemployment

7.7%

Total Consumer Expenditure

$41,231,261

Total Consumer Expenditure

$2,262,143

Contact

Contact

Coldwell Banker Commercial Alamo City 18756 Stone Oak Pkwy., Suite 202 San Antonio, TX 78258 (210) 483-6250 www.cbcalamo.com

Coldwell Banker Commercial The Ron Brown Company 2505 N Navarro St. Victoria, Texas 77901 (361) 573-6191 www.ronbrown.com

Office

Retail

• Industrial and Office sectors experiencing positive absorption.

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

39


UT - Salt Lake County

Market Highlights

Demographics CBSA

Square Miles

Population

Salt Lake City, UT

9,539

1,140,107

Households

376,706

Household Income Average

82,120

Employees (Total)

567,447

Unemployment

Total Consumer Expenditure

VA - Lynchburg

• Kraftmaid Industrial facility 867,494; Backcountry.com Industrial 325,800; Fusion-IO Office 150,000; Unisys Office 154,797; Scheel’s Retail 220,000; O’Reilly Auto parts all sever locations.

CBSA

Square Miles

Population

• Utah’s economy as a whole continues to outperform the nation and remains one of the most fundamentally sound.

$22,480,594

2,124

• Lynchburg has been able to keep all the larger tenants in the area but hasn’t seen any new ones come in.

248,585

• Vacancy rates are generally falling due to the slight uptick in the local economy.

Lynchburg, VA

Households

100,680

• Under construction - Industrial 2,000,000 SF; Office 125,000 SF, and Retail 325,000 SF.

Household Income Average

58,652

• UT has a low unemployment rate compared to national levels.

Employees (Total)

96,796

• Rate of national firms expanding in Utah is increasing.

7.6%

Market Highlights

Demographics

Unemployment

• Ranked by Forbes as the #1 best state for business careers.

Total Consumer Expenditure

• The Residential side is still down with no movement in the highend houses, although low to midrange houses are still moving.

7.1%

$5,133,427

Contact

Contact

Coldwell Banker Commercial NRT- Salt Lake City 6550 South Millrock Dr., Suite 200 Salt Lake City, UT 84121 (801) 947-8300 www.coldwellutah.com

Coldwell Banker Commercial Read and Co. 2508 Langhorne Rd. Lynchburg, VA 24501 (434) 455-2285 www.cbcworldwide.com

Office

Retail

• Minimal construction is taking place in the Central Virginia area, especially with respect to large scale jobs. A new car dealership has just broken ground, and a local credit union is about halfway done with another branch location.

Office

• The unemployment rate is showing a hint of downward motion. • The Lynchburg market is generally a stable market that tends not to follow the major swings in the economy that many other localities are tied to. This is due in part to the diversified Industrial base.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

N/A

Vacancy

Vacancy

Absorption

Absorption

N/A

Absorption

Absorption

Rental Rates

Rental Rates

N/A

Rental Rates

Rental Rates

40


WA - Clark County

Market Highlights

Demographics CBSA

Square Miles

Population

Households Household Income Average Employees (Total)

WA - Puyallup, Pierce County

PortlandVancouverBeaverton, OR-WA 6,684

2,261,246

878,239

73,445

952,611

Unemployment

9.2%

Total Consumer Expenditure

$50,356,316

Contact Coldwell Banker Commercial Jenkins-Bernhardt Associates 1500 D St. Vancouver, WA 98663 (360) 699-4494 www.CBCWorldWideNW.com

Office

Market Highlights

Demographics

• Development of the Vancouver waterfront will reconnect 35 acres along the Columbia River to the city’s historic core, creating a vibrant community for all to explore.

CBSA

Square Miles

• Apartment vacancies are low, hovering around 4%. Rent is moving upwards slowly due to 9% unemployment rates. Institutional investors are investing in the local apartment market.

Population

Households Household Income Average

• Development land prices continue to drop with no increase in interest from buyers.

Employees (Total)

• Small industrial companies are very active and a few large companies are becoming active. Banks are getting more aggressive and holding rates low while extending terms. • Several Big Box retail development projects have been completed, including: Costco, WalMart, Home Depot and Lowes.

SeattleTacomaBellevue, WA 5,894

3,433,786

1,373,207

86,419

• Home prices continue to slide.

1,502,591

• The national and global economy has stalled investor interest in CRE in the Q3 2011. • Joint Forces Lewis-McCord military bases keep our local economy more stable than most tertiary markets.

Unemployment

9.3%

Total Consumer Expenditure

$82,749,123

Coldwell Banker Commercial Offenbecher 101 S Meridian Puyallup, WA 98371 (253) 840-5574 www.offenbecher.com

Retail

• Vacancies in all types of CRE remain stable or slightly on the increase. • Hospital expansion, Medical Office buildings and Hospitality expansion comprise most of the new construction the area.

Contact

• The Ports of Clark County (Vancouver, Camas and Washougal) have brought in new businesses that are stimulating job creation.

• Parametrix 37,000 SF, Lucamerica 80,000 SF and Westwood Shipping Lines 20,000 SF all landed new corporate headquarters.

Office

• Port of Tacoma is a strong economic engine for the South Puget Sound and is a major gateway to Asia and Alaska. The port is among the largest container and automotive ports in North America. Several large land tracks in Pierce County are planned with rail to serve the NW in Pierce County creating opportunities for distribution centers.

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

41


WA - South King County

Market Highlights

Demographics CBSA

Square Miles

SeattleTacomaBellevue, WA 5,894

Population

3,433,786

Households

1,373,207

Household Income Average

86,419

Employees (Total)

1,502,591

Unemployment

Total Consumer Expenditure

WA - Thurston County

9.3%

$82,749,123

Contact Coldwell Banker Commercial Danforth & Associates 33313 First Way S Federal Way, WA 98003 (253) 874-3200 www.cbcdanforth.com

Office

Market Highlights

Demographics

• Weyerhaeuser has been selling off subsidiaries. They are transitioning from a forest products giant to a smaller real estate investment trust.

CBSA

Square Miles

• Overall vacancy rates are leveling off due to landlords lowering their rates to true market levels. • The Multi-Family sector is strong. Rising rents and falling vacancy rates have developers lining up at the permit counter. Some are saying that this sector may be overheating. • Residential prices are stabilizing. Year-over-year sales continue to grow.

253,654

Households

100,414

Household Income Average

74,489

Employees (Total)

68,733

Total Consumer Expenditure

• South King County is bordered by the Puget Sound to the West and the Cascade Mountains to the East. People can do many different activities such as fishing, skiing, or bicycling within an hour of where they live. One of the best places in the U.S. to live and work.

727

Population

Unemployment

• Boeing and other aerospace companies are at the beginning of another 10-year boom cycle. This should help the region see faster growth.

Olympia, WA

8.5%

$5,844,779

• REI has moved to the area; stimulating additional Retail activity in and around the area’s largest mall. Unemployment rate is much lower than surrounding counties. New construction Multi-Family projects are starting up, as vacancy rates are low and the forecast looks bright well into the future. • Some significant large Office buildings have gone through foreclosure. The state has consolidated operations is creating higher vacancies in the Office sector. • New construction in Office and Industrial is low due to oversupply. Retail and Multi-Family are seeing some activity. • The residential markets are bottoming out with many properties selling at or just above prices from 2009-10. Overall demand is still low while consumers rebuild confidence.

• Market is transitioning from a government-based economy Coldwell Banker Commercial to a private-sector-base. The Evergreen Olympic Realty, Inc. government budget is stalling 3333 Capitol Blvd. S activity, but has set market prices Olympia, WA 98501 at levels not seen in approximately (360) 352-7651 www.cbcworldwide.com a decade.

Contact

Retail

Office

Retail

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

Industrial

Industrial

Industrial

Multi-Family

Vacancy

Vacancy

Vacancy

Vacancy

Absorption

Absorption

Absorption

Absorption

Rental Rates

Rental Rates

Rental Rates

Rental Rates

42


WI - Janesville/Beloit

Market Highlights

Demographics CBSA

Square Miles

Population

Janesville, WI

720

160,224

Households

63,135

Household Income Average

63,711

Employees (Total)

63,044

Unemployment

10.1%

Total Consumer Expenditure

$3,478,456

• St. Mary’s Dean new 313,000 SF hospital scheduled to open at the end of the year. • Food-related manufacturers invested $65.9 million in new facilities and operations, creating approximately 300 jobs. • NorthStar Medical Radioisotopes announces $150M / 82,000 SF facility in Beloit’s Gateway Park. • Blain Supply Inc. (Blain’s Farm & Fleet) expanded its corporate campus and distribution facility. Blain Supply Inc. has close to 600,000 SF in warehouse, and added 43,000 SF to its corporate headquarters building.

Contact Coldwell Banker Commercial McGuire Mears & Associates 400 Midland Ct. Suite 101 Janesville, WI 53546 (608) 752-6325 www.mcguiremears.com

Office

Retail

Vacancy

Vacancy

Absorption

Absorption

Rental Rates

Rental Rates

Industrial

Multi-Family

Vacancy

Vacancy

N/A

Absorption

Absorption

N/A

Rental Rates

Rental Rates

N/A

43


Index by State AL - Dothan, Houston County AL - Montgomery County AR - Hot Springs AR - Little Rock CA - Inland Empire/Victor Valley CA - Los Angeles CA - Los Angeles, Westside CA - Modesto, Stanislaus County CA - Northern California/Bay area CA - Orange County CA - Redding CA - Sacramento CA - Temecula CA - San Fernando/San Gabriel Valley CO - Mesa County CO - Southwest FL - Daytona Beach-Ormond Beach FL - Florida Keys FL - Jacksonville FL - Lakeland-Winter Haven FL - Orlando FL - Port St. Lucie FL - Sarasota, Manatee, Charlotte Counties FL - South FL - Southwest GA - Athens GA - Atlanta GA - Atlanta Greater MSA GA - Dalton, Whitfield County GA - Savannah ID - Boise ID - Coeur d’Alene IL - Bloomington-Normal, McLean County IL - Champaign County IL - Chicago IL - Chicagoland IN - Delaware County KS - Kansas City Metro Area KY - Bowling Green KY - Louisville, Lexington & Elizabethtown LA - Lafayette LA - New Orleans ME - Midcoast Region MN - Mankato MN - Minneapolis Metro MO - St. Louis Metro MT - Billings Metro NC - New Hanover County NC - Raleigh NE - Lincoln NJ - Cape May County NJ - Northern NM - Albuquerque NV - Carson City NV - Reno/Sparks NY - Albany NY - New York City ON - Greater Toronto Area OR - Portland OR - Salem PA - Northeastern PA - Southwestern Region SC - Charleston Metro SC - Columbia SC - Greenville/Spartanburg TN - Knoxville/East Tennessee TN - Metro Chattanooga, TN-GA TX - Austin TX - Brenham TX - Bryan-College Station TX - Fort Worth TX - Houston TX - Lubbock TX - San Antonio TX - South Central TX - Victoria County UT - Salt Lake County VA - Lynchburg WA - Clark County WA - Puyallup, Pierce County WA - South King County WA - Thurston County WI - Janesville/Beloit

Index by Market 2 2 3 3 4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 41 41 42 42 43

Albany, NY Albuquerque, NM Athens, GA Atlanta Greater MSA, GA Atlanta, GA Austin, TX Billings Metro, MT Bloomington-Normal, McLean County, IL Boise, ID Bowling Green, KY Brenham, TX Bryan-College Station, TX Cape May County, NJ Carson City, NV Champaign County, IL Charleston Metro, SC Chicago, IL Chicagoland, IL Clark County, WA Coeur d’Alene, ID Columbia, SC Dalton, Whitfield County, GA Daytona Beach-Ormond Beach, FL Delaware County, IN Dothan, Houston County, AL Florida Keys, FL Fort Worth, TX Greater Toronto Area, ON Greenville/Spartanburg, SC Hot Springs, AR Houston, TX Inland Empire/Victor Valley, CA Jacksonville, FL Janesville/Beloit, WI Kansas City Metro Area, KS Knoxville/East Tennessee, TN Lafayette, LA Lakeland-Winter Haven, FL Lincoln, NE Little Rock, AR Los Angeles, CA Los Angeles, Westside, CA Louisville, Lexington & Elizabethtown, KY Lubbock, TX Lynchburg, VA Mankato, MN Mesa County, CO Metro Chattanooga, TN-GA, TN Midcoast Region, ME Minneapolis Metro, MN Modesto, Stanislaus County, CA Montgomery County, AL New Hanover County, NC New Orleans, LA New York City, NY Northeastern, PA Northern California/Bay area, CA Northern, NJ Orange County, CA Orlando, FL Port St. Lucie, FL Portland, OR Puyallup, Pierce County, WA Raleigh, NC Redding, CA Reno/Sparks, NV Sacramento, CA Salem, OR Salt Lake County, UT San Antonio, TX San Fernando/San Gabriel Valley, CA Sarasota, Manatee, Charlotte Counties, FL Savannah, GA South Central, TX South King County, WA South, FL Southwest, CO Southwest, FL Southwestern Region, PA St. Louis Metro, MO Temecula, CA Thurston County, WA Victoria County, TX

29 28 14 15 15 35 25 18 17 21 36 36 27 28 18 33 19 19 41 17 33 16 10 20 2 10 37 30 34 3 37 4 11 43 20 34 22 11 26 3 4 5 21 38 40 23 9 35 23 24 5 2 25 22 30 32 6 27 6 12 12 31 41 26 7 29 7 31 40 38 8 13 16 39 42 13 9 14 32 24 8 42 39


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2011 Mid Year Blue Book  

The CBC® Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals...

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