TM
™
MATTHEWS™ | 5
6 | SPRING/SUMMER 2019
MATTHEWS™ | 7
8 | SPRING/SUMMER 2019
MATTHEWS™ | 9
10 | SPRING/SUMMER 2019
MATTHEWS™ | 11
12 | SPRING/SUMMER 2019
MATTHEWS™ | 13
14 | SPRING/SUMMER 2019
MATTHEWS™ | 15
16 | SPRING/SUMMER 2019
MATTHEWS™ | 17
18 | SPRING/SUMMER 2019
MATTHEWS™ | 19
20 | SPRING/SUMMER 2019
MATTHEWS™ | 21
22 | SPRING/SUMMER 2019
MATTHEWS™ | 23
24 | SPRING/SUMMER 2019
MATTHEWS™ | 25
26 | SPRING/SUMMER 2019
MATTHEWS™ | 27
28 | SPRING/SUMMER 2019
30 | SPRING/SUMMER 2019
MATTHEWS™ | 31
32 | SPRING/SUMMER 2019
MATTHEWS™ | 33
34 | SPRING/SUMMER 2019
MATTHEWS™ | 35
36 | SPRING/SUMMER 2019
MATTHEWS™ | 37
38 | SPRING/SUMMER 2019
™
40 | SPRING/SUMMER 2019
MATTHEWS™ | 41
New York-Newark-Jersey City, NY-NJ-PA
Los Angeles-Long Beach-Anaheim, CA
Chicago-Naperville-Elgin, IL-IN-WI Metro Area Dallas-Fort Worth-Arlington, TX
353.17
Houston-The Woodlands-Sugar Land, TX
114.46
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
13.3
Miami-Fort Lauderdale-West Palm Beach, FL
127.66
Atlanta-Sandy Springs-Roswell, GA
243.04
Boston-Cambridge-Newton, MA-NH
61.67
San Francisco-Oakland-Hayward, CA
102.31
Phoenix-Mesa-Scottsdale, AZ
275.33
Riverside-San Bernardino-Ontario, CA
141.41
Detroit-Warren-Dearborn, MI
-19.16
Seattle-Tacoma-Bellevue, WA
174.48
Minneapolis-St. Paul-Bloomington, MN-WI
68.18
San Diego-Carlsbad, CA
93.38
Tampa-St. Petersburg-Clearwater, FL
Denver-Aurora-Lakewood, CO
Baltimore-Columbia-Towson, MD
Charlotte-Concord-Gastonia, NC-SC Orlando-Kissimmee-Sanford, FL
Portland-Vancouver-Hillsboro, OR-WA
San Antonio-New Braunfels, TX Pittsburgh, PA
Sacramento-Roseville-Arden-Arcade, CA Cincinnati, OH-KY-IN
Las Vegas-Henderson-Paradise, NV Kansas City, MO-KS
Cleveland-Elyria, OH Columbus, OH
Austin-Round Rock, TX
Indianapolis-Carmel-Anderson, IN
San Jose-Sunnyvale-Santa Clara, CA
Nashville-Davidson-Murfreesboro-Franklin, TN Virginia Beach-Norfolk-Newport News, VA-NC
Providence-Warwick, RI-MA
Milwaukee-Waukesha-West Allis, WI
Jacksonville, FL
Oklahoma City, OK
Memphis, TN-MS-AR
Louisville/Jefferson County, KY-IN
Richmond, VA
New Orleans-Metairie, LA
Hartford-West Hartford-East Hartford, CT
Salt Lake City, UT
Birmingham-Hoover, AL
Buffalo-Cheektowaga-Niagara Falls, NY
Rochester, NY
147.84
5.49
149.02 18.72
129.56
138.07 117.58
142.74 -16.01 77.84
23.05
118.43 42.95
-19.59 48.83
152.91
41.63
24.43 95.58
25.20
4.370
-7.17
83.09 53.99 -3.33 14.32
79.34 31.64
22.52
-17.22 44.19 9.09
-10.59 5M
42 | SPRING/SUMMER 2019
-105.22
373.32
Washington-Arlington-Alexandria, DC-VA-MD-WV
St. Louis, MO-IL
57.07
133.99
10M 15M Population (Millions)
20M
25M
MATTHEWS™ | 43
44 | SPRING/SUMMER 2019
MATTHEWS™ | 45
46 | SPRING/SUMMER 2019
MATTHEWS™ | 47
Shreveport, LA
-1.18%
St. Louis, MI
Columbus, GA
-1.12%
Baltimore, MY Jackson, MD
-1.12%
-1.07%
Bridgeport, CN
-0.80%
Hamn, VA
-0.71%
Milwaukee, WI Buffalo, NY
Garland, TX
-0.74% -0.57%
-0.54% 0
48 | SPRING/SUMMER 2019
-1.14%
100K
200K
300K
400K
500K
600K
2.5%
Austin
EMPLOYMENT GROWTH
2.0%
Orlando
1.5%
Dallas/Fort Worth Nashville
Salt Lake City
Tampa/St. Petersburg
Raleigh/Durham Fort Lauderdale San Antonio Denver Atlanta
Indianapolis
Seattle
Orange County
Washington D.C.
1.0%
U.S.
Boston Brooklyn
0.5%
0
Miami
0.1
0.2
0.3
0.4
0.5
Los Angeles
0.6
0.7
0.8
0.9
1.0
S TA B I L I T Y R AT I O
MATTHEWS™ | 49
52 | SPRING/SUMMER 2019
MATTHEWS™ | 53
54 | SPRING/SUMMER 2019
MATTHEWS™ | 55
56 | SPRING/SUMMER 2019
MATTHEWS™ | 57
™™
60 | SPRING/SUMMER 2019
MATTHEWS™ | 61
62 | SPRING/SUMMER 2019
MATTHEWS™ | 63
64 | SPRING/SUMMER 2019
MATTHEWS™ | 65
66 | SPRING/SUMMER 2019
™
68 | SPRING/SUMMER 2019
MATTHEWS™ | 69
70 | SPRING/SUMMER 2019
MATTHEWS™ | 71
72 | SPRING/SUMMER 2019
MATTHEWS™ | 73
74 | SPRING/SUMMER 2019
™
A NE W GENER ATI ON OF LEADERS FOCUSED ON
ON E O BJ ECTIVE: R ED E FI N IN G THE TRADITIONAL
BROKERAGE EXPERIENCE
R E TA I L | M U LT I FA M I LY | I N D U S T R I A L | L E A S I N G | M A N AG E M E N T
w w w. m a t t h e w s . c o m MATTHEWS™ | 75
76 | SPRING/SUMMER 2019
MATTHEWS™ | 77
78 | SPRING/SUMMER 2019
MATTHEWS™ | 79
80 | SPRING/SUMMER 2019
MATTHEWS™ | 81
82 | SPRING/SUMMER 2019
MATTHEWS™ | 83
TM
WE R U N
YO UR BUSINESS
WI TH THE FUTURE IN MIND
PERCENTAGE
20% 15% 10% 5% 0%
1970
86 | SPRING/SUMMER 2019
1990
YEAR
2010
2030
2050
45% 40%
175
35% 30%
125
25% 20%
75
15% 10%
25
5% 0
0%
(25)
(5%) 65+
45-64 25-44 15-24 AGE GROUP
CUMULATIVE POPULATION GROWTH (10 YEARS)
MOB SPACE ATTRIBUTED TO GROWTH (MILLIONS SF)
225
<15
MATTHEWS™ | 87
88 | SPRING/SUMMER 2019
18%
57%
100
OUTPATIENT OR DAY SURGERY HOSPITALS
60 40 20 0
29%
47%
WALK-IN OR RETAIL CLINIC
‘94 ‘95 ‘96 ‘97 ‘98 ‘99 ‘00 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15 ‘16
PERCENT
80
ON-DEMAND HEALTHCARE
YEARS
VIRTUAL CARE
8 CAP RATE/YIELD
8.2% 8.0% 7.8% 7.6% 7.4% 7.2% 7.0% 6.8% 6.6% 6.4%
Q1
Q2 Q3 2017
Q4
Q1
90 | SPRING/SUMMER 2019
Q2 Q3 2018
Q4
Q1 Q2 2019
7
6
5
2014 Q3
2015 Q3
2016 Q3
2017 Q3
2018 Q3
$367 $319
$247
$247
$578
$319 $226 $446 $267 $411
$288
$578 $292
$271 $346
$273
$304
$392
$385
$260 $330 $301
$277 $327
$274
$230
$233 $274 $305
$275
$275
$236 $288
$338
$261
$254
$325
$270
$273 $276
MATTHEWS™ | 91
™
MATTHEWS™ | 93
94 | SPRING/SUMMER 2019
MATTHEWS™ | 95
96 | SPRING/SUMMER 2019
™
98 | SPRING/SUMMER 2019
MATTHEWS™ | 99
PRIC E PE R SQUARE FOO T $80
$70 P rice / sf
The Data Behind The Industrial Market
$60
$50
Rent & Vacancies Rent growth and low vacancy
$40 ‘02
in the industrial sector is a big
‘04
‘0 6
‘08
‘1 0
‘12
‘1 4
‘16
‘1 8
‘14
‘1 6
‘18
ye a Y ErA R
story right now as record low
S O URCE: RCA
vacancy is driving new industrial development and keeping further upward pressure on rents. In the fourth quarter of 2018, the nation hovered around a five
VAC ANC Y RAT E
percent vacancy, almost half of what vacancy levels were like in 2009, according to Real Capital 1 0 .0 %
Analytics. Moreover, according industrial developer experienced rent growth of 19 percent in 2018.
Va c a n cy
to Prologis, the country’s largest 8 .0 %
6 .0 %
4 .0 %
Industrial absorption is buoyed by a strong job market and consumer spending.
100 | SPRING/SUMMER 2019
2 .0 % ‘0 2
‘0 4
‘0 6
‘0 8
‘10 ‘1 2 ye ar YE AR S O URCE: RCA
MATTHEWS™ | 101
102 | SPRING/SUMMER 2019
MATTHEWS™ | 103
104 | SPRING/SUMMER 2019
MATTHEWS™ | 105
106 | SPRING/SUMMER 2019
MATTHEWS™ | 107
MATTHEWS™ | 111
112 | SPRING/SUMMER 2019
MATTHEWS™ | 113
SCOTT HENARD
(214) 692-2046 Scott.Henard@Matthews.com
BEN SNYDER
(216) 503-3607 Ben.Snyder@Matthews.com
114 | SPRING/SUMMER 2019
116 | SPRING/SUMMER 2019
MATTHEWS™ | 117
118 | SPRING/SUMMER 2019
MATTHEWS™ | 119
120 | SPRING/SUMMER 2019
MATTHEWS™ | 121
122 | SPRING/SUMMER 2019
MATTHEWS™ | 123
124 | SPRING/SUMMER 2019
MATTHEWS™ | 125
126 | SPRING/SUMMER 2019
MATTHEWS™ | 127
128 | SPRING/SUMMER 2019
MATTHEWS™ | 129
130 | SPRING/SUMMER 2019
MATTHEWS™ | 131
132 | SPRING/SUMMER 2019
MATTHEWS™ | 133
134 | SPRING/SUMMER 2019
MATTHEWS™ | 135
136 | SPRING/SUMMER 2019
MATTHEWS™ | 137
138 | SPRING/SUMMER 2019
MATTHEWS™ | 139
140 | SPRING/SUMMER 2019
MATTHEWS™ | 141
142 | SPRING/SUMMER 2019
MATTHEWS™ | 143
144 | SPRING/SUMMER 2019
MATTHEWS™ | 145
146 | SPRING/SUMMER 2019
MATTHEWS™ | 147
148 | SPRING/SUMMER 2019
MATTHEWS™ | 149
150 | SPRING/SUMMER 2019
MATTHEWS™ | 151
152 | SPRING/SUMMER 2019
MATTHEWS™ | 153
154 | SPRING/SUMMER 2019
MATTHEWS™ | 155
156 | SPRING/SUMMER 2019
MATTHEWS™ | 157
158 | SPRING/SUMMER 2019
MATTHEWS™ | 159
160 | SPRING/SUMMER 2019
MATTHEWS™ | 161
162 | SPRING/SUMMER 2019
MATTHEWS™ | 163
164 | SPRING/SUMMER 2019
MATTHEWS™ | 165
166 | SPRING/SUMMER 2019
MATTHEWS™ | 167
168 | SPRING/SUMMER 2019
MATTHEWS™ | 169
170 | SPRING/SUMMER 2019
MATTHEWS™ | 171
172 | SPRING/SUMMER 2019
MATTHEWS™ | 173
174 | SPRING/SUMMER 2019
MATTHEWS™ | 175
176 | SPRING/SUMMER 2019
MATTHEWS™ | 177
178 | SPRING/SUMMER 2019
MATTHEWS™ | 179
180 | SPRING/SUMMER 2019
MATTHEWS™ | 181
182 | SPRING/SUMMER 2019
MATTHEWS™ | 183
184 | SPRING/SUMMER 2019
MATTHEWS™ | 185
186 | SPRING/SUMMER 2019