New York City Office Market Report, Second Quarter 2013
|
|
- Esther Ward
- 8 years ago
- Views:
Transcription
1 New York City Office Market Report, Second Quarter 2013
2 2013 NAI Global The contents of this report are intended for the individuals to whom it is presented or delivered and their company associates. Any dissemination or replication, without the express authorization of NAI Global, is strictly prohibited.
3 Q New York City Office Market Report, Second Quarter 2013 OFFICE MARKET # BLDGS. TOTAL RBA DIRECT SUBLET TOTAL TOTAL AVERAGE UNDER (SF) AVAILABLE (%) AVAILABLE (%) AVAILABLE (%) RATE ($/SF/YR) CONSTRUCTION (SF) MIDTOWN Columbus Circle 87 31,566, % 3.4% 11.0% $ ,052,150 Grand Central ,163, % 2.8% 16.5% $ Murray Hill 65 12,030, % 3.5% 11.1% $ Penn Plaza / Garment District ,577, % 1.8% 12.9% $ ,800,000 Plaza District ,983, % 2.8% 12.6% $ Times Square ,424, % 1.4% 11.3% $ ,000 UN Plaza 17 3,677, % 0.1% 2.7% $ MIDTOWN TOTAL ,072, % 2.4% 12.8% $ ,569,150 MIDTOWN SOUTH Chelsea ,446, % 1.0% 10.3% $ ,844 Gramercy Park ,018, % 1.2% 8.6% $ ,000 Greenwich Village 45 4,873, % 1.1% 6.3% $ ,000 Hudson Square 32 9,387, % 2.5% 9.1% $ SoHo 121 6,496, % 0.8% 7.0% $ ,000 MIDTOWN SOUTH ,222, % 1.2% 8.9% $ ,844 TOTAL DOWNTOWN City Hall 62 7,169, % 0.4% 14.6% $ Financial District 59 39,912, % 2.6% 16.2% $ Insurance District 34 10,489, % 0.9% 14.5% $ Tribeca 27 7,513, % 2.7% 7.8% $ World Trade Center 34 24,664, % 2.8% 22.9% $ ,744,570 DOWNTOWN TOTAL ,750, % 2.3% 17.0% $ ,744,570 Midtown Total ,422, % 2.4% 12.8% $ Midtown South Total ,222, % 1.2% 8.9% $ Downtown Total ,750, % 2.3% 17.0% $ Manhattan 1, ,855, % 2.2% 13.1% $
4 Manhattan Overview OVERVIEW: The Manhattan office transaction volume for Q2 ended strongly with more than 6.2 million SF. After two positive quarters of net absorption in Q and Q1 2013, this quarter, Manhattan watched it hit a huge bump, dropping to (591,077) SF. There was a spike in construction from 10,583,624 SF in Q1 to now 13,287,564 SF. Asking rents slightly increased; however, overall vacancy continued to remain consistent throughout Manhattan. The relative lack of leasing activity is largely a result of financial services firms delaying leasing decisions due to continuing concerns over the European debt crisis and the U.S. tax deficit and regulatory policies. Now, almost a 1000 year later, the affects of Hurricane Sandy continue to take a Net Absorption (sf) huge plunge into NYC Real Estate. Many landlords are still facing challenges going forward to secure their properties 500 and many of these changes may result in higher rents. This sector comprises approximately a quarter of Manhattan s 0 total office tenancy, and is the driving market force for large blocks of space in Midtown and Downtown Leasing activity was dominated by a large lease renewal taking place in Midtown. This transaction was for 595, SF at 425 Lexington Avenue. The Tenant involved in the renewal was Simpson Thacher & Bartlett. Larger leases to follow were well above 100,000 SF. These included a lease by L Oreal USA for 402,000 SF located at Hudson Yards and a lease by Metropolitan Pavillion for 250,000 SF located at 639 West 46th Street ; both leases took place in Midtown as Total Avg Rate ($/sf/yr) well. $54.00 New York City s labor statistics present a positive picture for the city. The unemployment rate has decreased, ending at 8.2% in Q2. The proposed expansion of the Chelsea Market $52.00 has been approved. This project is predicted to create more than 1,200 long-term jobs as well as 600 construction jobs. This project will also allow for a positive economic boost for $50.00 NYC. Manhattan is the toughest real estate market in the world $48.00 and a lot of it is from its retail success. The constant arrival of tourists has pushed retail sales in the city far higher than in the rest of the state and country. New York City has the location and the drive to improve its economy. The market is and will remain fiercely competitive for the next few years. This is due to longer leases and not enough inventories to NYC Unemployment Rate offer. 10% Investment sales activity continues to be dominated by 9% the Midtown South market in Q2, totaling well above $900 million in sales. Although Midtown South ranked number 8% one, the top two sales transactions took place in Midtown. The purchase of the Milford Plaza Hotel was the number one 7% investment sales transaction for Q2 totaling to $325 million. From watching investment sales gradually taking a downfall, 6% we are now seeing a positive light, where transactions have been remaining consistent. TRENDS: Vacancy Net Absorption Construction Asking Rents Unemployment Rate 14% 13% 12% 11% Overall Vacancy (%)
5 Vacancy Net Absorption Midtown Overview New York continues to watch closely as the average asking rate for Midtown slightly increases each quarter. For Q2, Midtown ended up with anverage asking rate of $61.49 with a previous Q2 rate Construction from 2012 of $ Construction is up this quarter, with about 3.6 million SF under construciton in Midtown. Midtown leasing activity ended the Second Quarter with excitement, having ten leases that were above 100,000 SF. Midtown closed with the most lease transactions above 100,000 SF, totaling approximately 2.3 million SF. The largest lease for Midtown was a renewal for Simpson Thacher & Bartlett located at 425 Lexington Avenue for 595,000 SF. The two largest to follow were for 402,000 Asking Rents SF of space at the new Hudson Yards for L Oreal USA and 250,000 SF for Metropolitan Pavillion at 639 West 46th Street in Times Square. The largest sale transaction in Midtown for Q2 was Deusche Asset and Wealth Management s purchase of the Milford Plaza Hotel for a total of $325 million. RFR Holdings and Kensico Properties transaction ranked as the second largest sale for Midtown. $261,500,000 was paid for the purchase of 350 Madison Avenue. The next largest transaction to follow was a Private Investor s purchase of 295 Madison Avenue for 300,000 SF at the price of $200 million. 13% 12% 11% Overall Vacancy (%) Net Absorption (sf) $62.00 $61.50 $61.00 $60.50 $60.00 $59.50 $59.00 $58.50 $58.00 $57.50 Total Avg Rate ($/sf/yr) Significant Leasing Activity Tenant: Address: Size: Submarket: Simpson Thacher & Bartlett 425 Lexington Avenue 595,000 SF Grand Central L Oreal USA Hudson Yards 402,000 SF Penn Plaza Metropolitan Pavillion 639 West 46th Street 250,000 SF Tmes Square Patterson Belknap 1133 Avenue of the Americas 200,000 SF Times Square Yahoo 229 West 43rd Street 176,000 SF Times Square Significant Building Sales Address: Size: Price:* Price (PSF):* Buyer: Seller: Milford Plaza Hotel N/A $325,000,000 N/A Deusche Asset Management Rockpoint Fund III 350 Madison Avenue 394,000 $261,500,000 $ RFR Holdings Kensico Properties 295 Madison Avenue 300,000 $200,000,000 $ Private Investor Westbrook Partners 567 Seventh Avenue 4,149 $7,250,000 $1, Private Investor Private Investor
6 Midtown South Overview Midtown South, usually finishing strong, has experienced a slight decline this quarter with an overall market size of about 1.2 million SF. Net absorption has continued to decline ending Q2 with (429,295) SF. The submarket s overall vacancy remained flat. Average asking rents consistently rise each quarter, going from $52.70 to $ The Chelsea district continues to remain one of the more active districts in this submarket. Joining the Chelsea district in popular leasing activity this quarter is Greenwich Village. Vacancy Net Absorption AppNexus signed a lease in Midtown South allowing it to take on the largest amount of SF for the quarter. The lease covers 220,000 SF at West 23rd Street in Chelsea. Other significant leases that took place in Chelsea were Mediaocean signing a lease for 88,400 SF and BuzzFeed signing at 200 Fifth Avenue for 68,791 SF. Construction Midtown South s largest sale transaction was completed by Clarion Partners in the purchase of Fifth Avenue, totaling 277,412 SF for the price of $230 million or $ PSF. A Private Investor purchased 27 Grand Street for $85,000,000 as the second largest sale. Another major deal for Midtown South includes the purchase of The James Hotel by Prudential Real Estate Investors from Brack Capital Real Estate. This transaction closed at $83,400,000. Asking Rents Overall Vacanacy % Net Absorption (in thousands SF) Total Avg Rate ($/SF/yr) 10% Overall Vacancy (%) $54.00 $52.00 Total Avg Rate ($/sf/yr) 300 $ % 200 $ $ % $44.00 $42.00 $40.00 Significant Leasing Activity Tenant: Address: Size: Submarket: AppNexus West 23rd Street 220,000 SF Chelsea Facebook 770 Broadway 100,000 SF Greenwich Village Mediaocean 620 Avenue of the Americas 88,400 SF Chelsea New York Media, LLC 1 Hudson Square 80,500 SF Hudson Square BuzzFeed 200 Fifth Avenue 68,791 SF Chelsea Significant Building Sales Address: Size: Price:* Price (PSF):* Buyer: Seller: Fifth Avenue 277,412 $230,000,000 $ Clarion Partners Kaufman Organization 27 Grand Street N/A $85,000,000 N/A Private Investor Brack Capital Real Estate The James Hotel N/A $83,400,000 N/A Prudential Brack Capital Real Estate
7 Downtown Overview Downtown s average asking rent has continued to remain flat at $40.36 keeping rents well above the $35.62 SF rate reported just three years ago. The overall market size has dramatically decreased and net absorption continues to remain positive going on for its eighth consecutive quarter. The largest lease for this submarket was signed by Nyack College of 166,385 SF at 2 Washington Street. Other major leases included a signing by Conde Nast for 222 Broadway for 80,000 SF of space and Green Ivy School for 40 Wall Street for 80,000 SF of space. Leases to follow involved a lease signed by YMCA Retirement Fund for 120 Broadway for 52,000 SF and First Investors Management Company for 40 Wall Street for 36,490 SF. Three of the leases took place in the Financial District. 18% 16% Overall Vacanacy % Overall Vacancy (%) Looking into the investment sales for Downtown, the largest transaction that took place was for 2 Rector Street for 466,000 SF. This transaction totaled $140,000,000 or $300 PSF. A Private Investor s purchase of Broadway was the second largest transaction in this submarket. The property totaled 26,723 SF valued at $23 million or $860 PSF. 14% Vacancy Net Absorption (in thousands SF) Total Avg Rate ($/SF/yr) Total Avg Rate ($/sf/yr) $40.00 $39.50 Net Absorption 250 $ $38.50 $38.00 $37.50 $37.00 Construction Significant Leasing Activity Tenant: Address: Size: Submarket: Nyack College 2 Washington Street 166,385 SF World Trade Center Conde Nast 222 Broadway 80,000 SF Insurance District Green Ivy School 40 Wall Street 80,000 SF Financial District YMCA Retirement Fund 120 Broadway 52,000 SF Financial District First Investors Management Company 40 Wall Street 36,490 SF Financial District Significant Building Sales Address: Size: Price:* Price (PSF):* Buyer: Seller: 2 Rector Street 466,000 $140,000,000 $ CCIM and Kushner Properties Savanna Broadway 26,723 $23,000,000 $ Private Investor Private Investor Asking Rents
8 Summary Methodology We have divided Manhattan into three markets: Midtown, Midtown South and Downtown. These markets have been separated into the following submarkets: Columbus Circle, Murray Hill, UN Plaza, Times Square, Grand Central, Greenwich Village, Hudson Square, Soho, Tribeca, Plaza, Penn Plaza, Chelsea, Gramercy Park, Financial/World Trade Center and Insurance/City Hall. Glossary Midtown 12.8% Vacancy Rate $61.49 SF/YR Avg. Rental Midtown South 8.9% Vacancy Rate $56.30 SF/YR Avg. Rental Downtown 17.0% Vacancy Rate $40.36 SF/YR Avg. Rental Average Asking Rental Rate Quoted asking rental rates, given on a per-square-foot per-year basis and provided as a weighted average by the amount of square footage available for direct vacancy space. Direct Vacancy Space currently available in the market for lease directly with the landlord or building owner. Market Size Includes all existing and under construction office buildings (office, office condo, office loft, office medical, all classes and all sizes, both multitenant and single-tenant, including owner-occupied buildings) within each market. Net Absorption Net Absorption measures the total amount of square feet leased over a period of time minus the space that is vacated during the same period. Overall Market Vacancy Direct and sublease space available for lease in the market divided by the market size. Overall Vacancy All available lease space, either direct or sublease. SF/PSF Square foot/per square foot, used as a unit of measurement. Sublease Arrangement in which a tenant leases rental property to another, and the tenant becomes the landlord to the subtenant. Sublease Vacancy Space currently available in the market for sublease with an existing tenant within a building acting as the landlord. QTD Quarter to date. The latest information available. YTD Year to Date. The latest information available.
9 Over 350 Offices Covering the World Build on the power of our network. Brokerage Services Corporate Services Acquisition/Disposition Leasing Agency/Landlord Representation Tenant/Buyer Representation Investment Services Auction/Accelerated Marketing Programs Sale-Leaseback Net Lease Transactions Market Reports & Opinions of Value Technology Services CLAS Project & Portfolio Administration & Analysis REALTrac Online Transaction Management Asset Services Asset Management Property Management Corporate Facilities Management Build-to-Suit/Development Services Financial & Investment Services Asset Optimization Program Capital Markets Acquisition/Disposition Investment Services Mortgage Brokerage Structured Lease Finance 1031 Exchange Services Trade Credits Advisory Services International Advisory Distribution Logistics Due Diligence Management Feasibility Analysis Lease & Utility Audits Lease Administration Location Benefits Analysis Move Management Property Valuation & Tax Consulting Relocation Studies Site Location Modeling Six Sigma Consulting Strategic Planning Specialty Practices NAI Global Life Science Group NAI Global Multifamily Group 415 Madison Avenue New York NY tel fax
10 nainyc.com
New York City Office Market Report, First Quarter 2013
New York City Office Market Report, First Quarter 213 Q1-213 New York City Office Market Report, First Quarter 213 OFFICE MARKET # BLDGS. TOTAL RBA DIRECT SUBLET TOTAL TOTAL AVERAGE UNDER (SF) AVAILABLE
More informationNAI Houston Office Report First Quarter 2012
NAI Houston Office Report First Quarter 2012 Houston: Office Report CITYWIDE OFFICE LEASING STATISTICS: ABSORPTION: Measure of Demand in Square Footage for Office Space Total net absorption for 2012 YTD
More informationMarket Report MANHATTAN OFFICE 2Q 2015. Leasing Activity MSF. Absorption SF. Availability Rate 10.1% -0.6pp -0.9pp N/A. Average Asking Rent ($/SF/YR)
Market Report MANHATTAN OFFICE 2Q 2015 Accelerating success. 2Q 2015 Quarter-to- Quarter Change Year-to- Year Change YTD 2015 ± % $ Leasing Activity MSF Absorption SF 8,087,659-2.8% -8.0% 16,409,154 2,890,076
More informationMarket Report MANHATTAN OFFICE 1Q 2015. Leasing Activity MSF. Absorption SF. Availability Rate 10.7% 0.7pp -0.7pp N/A. Average Asking Rent ($/SF/YR)
Market Report MANHATTAN OFFICE Accelerating success. Quarter-to- Quarter Change Year-to- Year Change YTD 2015 ± % $ MANHATTAN Leasing Activity MSF Absorption SF Manhattan posted mixed results in 1Q 2015
More information4Q 15. Industrial Market Report
4Q 15 Industrial Market Report ST. LOUIS, MO The Market Multiple indicators point towards 2016 as a year of continued construction for the St. Louis Industrial Market. The 2.3 million square feet of new
More informationThe Little Train That Could
Research & Forecast Report RENO OFFICE Q3 2015 The Little Train That Could > > Rents continued to move higher as rates over $2.00 per square foot are becoming more common in the Class A buildings in the
More information3Q 14. Long Island Market Report
3Q 14 Long Island Market Report Long Island Office 3Q 214 Long Island 3Q14 Office Office Report The Long Island office market ended the 3 rd quarter 214 with a decreased vacancy rate of 8.1%. The vacancy
More informationMidtown South Manhattan Office MarketView
Midtown South Manhattan Office MarketView CBRE Global Research and Consulting LEASING ACTIVITY 1.1 MSF NYC UNEMPLOYMENT RATE (DEC. 1) 7.5% NYC OFFICE EMPLOYMENT (DEC. 1) 1,6, U.S. GDP CHANGE (Q 1) 4.1%
More informationNet absorption was negative 67,299 square feet this quarter, marking a second consecutive quarter of negative net absorption.
NAI Earle MEMBER Furman, NAME LLC Office Report First Second Quarter Quarter 20072009 Upstate Market TRENDS: STATISTICS: Vacancy Rate Net Absorption Number of Buildings...3,288 Market Size (SF)...31,367,198
More informationNew York s Real Estate Market A Decade After 9/11
New York s Real Estate Market A Decade After 9/11 1 New York s Real Estate Market A Decade After 9/11 Table of Contents Introduction Office Market l Asking Rents l Vacancy Rates l New Development Residential
More informationRenewals Dominate Downtown Los Angeles Activity as Vacancy Decreases
office downtown LOS ANGELES market report Renewals Dominate Downtown Los Angeles Activity as Decreases Market overview MARKET indicators - VACANCY 18.1% NET ABSORPTION 68,400 CONSTRUCTION 1,042,900 RENTAL
More informationEFFECTIVE RENT REPORT
EFFECTIVE RENT REPORT MANHATTAN OFFICE SNAPSHOT Q3 2014 COMPSTAK.COM INFO@COMPSTAK.COM +1.646.926.6707 36 Cooper Sq, 6th Fl, NY, NY 10003 Overview Effective Rent Indicator: Midtown $60.10 Midtown South
More informationVacancy Rate Increases Above 20% As Space Givebacks Continue
OFFICE LOS ANGELES MARKET REPORT Rate Increases Above 20% As Space Givebacks Continue MARKET OVERVIEW MARKET INDICATORS - VACANCY 20.1% NET ABSORPTION -137,400 CONSTRUCTION 508,200 RENTAL RATE $34.56 P
More informationFall 2010. Mary Ann Tighe, Chairman. Steven Spinola, President. 570 Lexington Avenue / New York, NY 10022 / 212.532.3100 www.rebny.
Fall 2010 Mary Ann Tighe, Chairman Steven Spinola, President 570 Lexington Avenue / New York, NY 10022 / 212.532.3100 www.rebny.com Executive Summary Our Retail Advisory Group reports a noticeable increase
More informationVacancy Down, Rental Rates Up
Research & Forecast Report ST. LOUIS OFFICE First Quarter 2016 Vacancy Down, Rental Rates Up Business as usual for the St. Louis office market during first quarter 2016. Suburban office continues to drive
More informationOffice Outlook. Large block leasing activity drives vacancy lower as confidence increases. New York Q2 2014
Office Outlook New York Q2 2014 Large block leasing activity drives vacancy lower as confidence increases The Manhattan office vacancy rate fell to 10.6 percent from 11.1 percent its lowest level in two
More informationFIRST QUARTER 2015. Downtown Los Angeles Office Market Report. Partnership. Performance. www.avisonyoung.com
FIRST QUARTER 2015 Downtown Los Angeles Office Market Report Partnership. Performance. www.avisonyoung.com New Jersey FIRST QUARTER 2015 Downtown Los Angeles Market Report Partnership. Performance. Market
More informationOffice Outlook. Brisk beginning to the year means fewer options and rising rents. New York Q1 2014
Office Outlook New York Q1 2014 risk beginning to the year means fewer options and rising rents Strong demand from the creative industries throughout Manhattan but especially in Midtown South drove leasing
More informationOklahoma City Industrial Market Leasing. OKC Industrial Market Information by Submarkets, Classes and Sizes
03Executive Summary 04 04 04 05 06 08 09 10 11 13 National Economy Local Economy Oklahoma City Industrial Market Leasing Net Absorption and Inventory Rental Rates and Vacancy Rates OKC Industrial Market
More informationMilwaukee, WI 4th Quarter 2014 OFFICE. Market Trends COMMERCIAL REAL ESTATE INFORMATION. In partnership with
Milwaukee, WI 4th Quarter 2014 OFFICE Market Trends COMMERCIAL REAL ESTATE INFORMATION In partnership with Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set 2 Milwaukee
More informationMARKET WATCH. Market Highlights Office Total Inventory 358,692,803 Total Vacancy Rate 14.4% Select Sitar Transactions 2Q 2014. Economic Indicators
MARKET WATCH Second Quarter 2014 Market Highlights Office Total Inventory 358,692,803 Total Vacancy Rate 14.4% Average Rate $23.66 PSF YTD Net Absorption 1,491,218 SF Industrial Total Inventory 800,823,825
More informationOFFICE MARKET ANALYSIS SUBURBAN CHICAGO. According to Costar Property, the Suburban Chicago office market is distributed as follows:
OFFICE MARKET ANALYSIS SUBURBAN CHICAGO Market Composition & Distribution According to Costar Property, the Suburban Chicago office market is distributed as follows: Office Submarket Cluster Distribution
More informationThe Upstate Market is defined by: Greenville, Anderson, Spartanburg, Cherokee and Pickens counties.
NAI Earle MEMBER Furman, NAME LLC Office Report First Second Quarter Quarter 20072008 Upstate Market TRENDS: Vacancy Rate Net Absorption STATISTICS: Number of Buildings...2,883 Market Size (SF)... 30,129,332
More informationOffice Outlook. Relocations and migrations drive activity; vacancy lowest since financial crisis. New York Q3 2014
Office Outlook New York Q3 2014 Relocations and migrations drive activity; vacancy lowest since financial crisis Manhattan office vacancy rates plummeted to their lowest level since 2008 despite only moderate
More informationCommercial Real Estate Vacancy Overview
Commercial Real Estate Vacancy Overview RETAIL 4.63% 5.31% increase SUBURBAN OFFICE 18.2% 4.15% increase CBD OFFICE 12.75% 4.86% decrease INDUSTRIAL 5.69% 2.91% increase YEAREND 215 The Lexington commercial
More informationFirst Quarter Industrial Market Report 2014
First Quarter Industrial Market Report 2014 Leasing Activities Highlights: Total Net Absorption 288,886 SF Total Inventory 107,654,999 SF Overall Rental Rate $4.55/SF/YR Total Vacancy Rate 6.20% Under
More informationCentral Los Angeles Leasing Activity Surges Despite Negative Absorption
office CENTRAL LOS ANGELES market report Central Los Angeles Leasing Activity Surges Despite Negative Absorption Market overview MARKET indicators - VACANCY 19.8% NET ABSORPTION -112,300 CONSTRUCTION 1,242,600
More informationTHIRD QUARTER 2015. Downtown Los Angeles Office Market Report. Partnership. Performance. www.avisonyoung.com
THIRD QUARTER 2015 Downtown Los Angeles Office Market Report Partnership. Performance. www.avisonyoung.com New Jersey THIRD QUARTER 2015 Downtown Los Angeles Market Report Partnership. Performance. Market
More informationOKC Multi-Family Market Leasing by Classes and Unit Mix. OKC Multi-Family Market Leasing Information by Submarkets
03Executive Summary 04 04 05 05 06 07 08 09 11 National Economy Local Economy OKC Multi-Family Market Leasing by Classes and Unit Mix OKC Multi-Family Market Leasing Information by Submarkets Construction,
More informationThird Quarter Multi-Family Market Report 2014
Third Quarter Multi-Family Market Report 2014 National Economy The national economy is improving as it continues to the fourth quarter of the year, mainly driven by the sales of motor vehicle, business
More informationGREATER COLUMBUS OFFICE MARKET OVERVIEW. Current Market Trends
GREATER COLUMBUS OFFICE MARKET OVERVIEW Current Market Trends Over the past 12 months, overall market conditions have continued to improve. Vacancy declined, absorption remains positive and rental rates
More informationOklahoma City Retail Market Leasing. OKC Retail Market Information by Submarkets. Construction, Delivery, Net Absorption and Vacancy Rate
03Executive Summary 04 04 04 05 05 07 07 08 09 11 National Economy Local Economy Oklahoma City Retail Market Leasing Net Absorption and Inventory Rental Rates and Vacancy Rates OKC Retail Market Information
More informationSetting the standard for quality. leasing, management and ownership. of commercial real estate.
Setting the standard for quality leasing, management and ownership of commercial real estate. K AUFMAN O RGANIZATION History of the Kaufman Organization A cornerstone of New York s Fashion Center, the
More informationOffice Outlook. Returned blocks combined with slower leasing activity to drive vacancy higher. New York Q1 2015
Office Outlook New York Q1 2015 Returned blocks combined with slower leasing activity to drive vacancy higher number of available blocks of space most of which had been anticipated by the market were added
More informationNational Seniors Housing Group Specialized Real Estate Services
COLLIERS INTERNATIONAL National Seniors Housing Group Specialized Real Estate Services Accelerating success. This document has been prepared by Colliers International for advertising and general information
More informationIf You Build It : The Impact of Street Improvements on Commercial Office Space
If You Build It : The Impact of Street Improvements on Commercial Office Space J.LIFF CO. 11 Fifth Avenue 9H New York, New York 10003 JUNE 2012 Location, location, location is the real estate mantra. So
More informationThe CoStar Retail Report
The CoStar Retail Report Y E A R - E N D 2 0 0 9 YEAR-END 2009 SALT LAKE CITY Table of Contents Table of Contents.................................................................... A Methodology........................................................................
More informationexperience matters our services
commercial REAL ESTATE experience matters While no two clients needs are exactly alike, we at Levrose have been working with landlords, tenants, buyers and sellers in helping with their specific requirements
More informationINDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS
ORANGE COUNTY INDUSTRIAL SECOND QUARTER 216 QUICK STATS Direct Vacancy 2.6% Overall Vacancy 2.7% Lease Rate NNN $.82 Gross Absorption Under Construction MARKET TRENDS Current Quarter 3,969,645 SF 41,668
More informationLeasing activity drives new construction in Milwaukee
MARKETVIEW Milwaukee Office, Q3 2015 Leasing activity drives new construction in Milwaukee Vacancy Rate 15.5% Lease Rate $22.29 PSF Net Absorption 108,597 SF Under Construction 563,717 SF *Arrows indicate
More information>> New Construction Delivers to the Orange County Office Market
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> New Construction Delivers to the Orange County Office Market Key Takeaways > Three new office developments were delivered to the
More informationOklahoma City Office Market Leasing. Construction, Delivery, Net Absorption and Vacancy Rate. Oklahoma City Office Market Sales
Fourth Quarter Office Market Report 03Executive Summary 04 04 04 05 06 07 07 09 10 12 National Economy Local Economy Oklahoma City Office Market Leasing Net Absorption and Inventory Rental Rates and Vacancy
More informationLEE NYC Retail is the retail division of Lee & Associates NYC (Lee NYC), an affiliate of Lee &
LEE NYC Retail LEE NYC Retail is the retail division of Lee & Associates NYC (Lee NYC), an affiliate of Lee & Associates, a national real estate company with over 700 real estate professionals in 46 offices
More informationRegional Markets for Office and Industrial Space
Regional Markets for Office and Industrial Space FEELING PAIN: REGIONAL MARKETS FOR OFFICE AND INDUSTRIAL SPACE I ve never seen anything like this in 36 years. Sharon Ryals-Taylor, Thalhimer Commercial
More informationMilwaukee, WI 1st Quarter 2015 OFFICE. Market Trends COMMERCIAL REAL ESTATE INFORMATION. In partnership with
Milwaukee, WI 1st Quarter 2015 OFFICE Market Trends COMMERCIAL REAL ESTATE INFORMATION In partnership with Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set 2 Milwaukee
More informationOHIO RESEARCH RECOVERY STILL PROGRESSING. Brian T. Graham, CCIM Valuation & Advisory Services Director of Research Ohio brian.graham@colliers.
Q2 2013 OVERALL OHIO RESEARCH RECOVERY STILL PROGRESSING EXECUTIVE SUMMARY The second quarter in Ohio kept a steady pace, as most markets and specialties saw good demand, positive absorption and a healthy
More informationDayton, Ohio 1st Quarter 2015 OFFICE. Market Trends COMMERCIAL REAL ESTATE INFORMATION
Dayton, Ohio 1st Quarter 2015 OFFICE Market Trends COMMERCIAL REAL ESTATE INFORMATION Table of Contents/Methodology of Tracked Set Table of Contents/Methodology of Tracked Set 2 Dayton Office Submarkets
More informationREAL ESTATE SERVICES. MMAREA services include, but are not limited to the following:
REAL ESTATE SERVICES MMA Real Estate Advisors, LLC ( MMAREA ), an affiliate of Medical Management Associates, Inc. ( MMA ), is a full service real estate and fee development company dedicated to serving
More informationLand Advisory Group Specialized Real Estate Services
COLLIERS INTERNATIONAL Land Advisory Group Specialized Real Estate Services Accelerating success. Colliers International Land Advisory Group P. 1 This document has been prepared by Colliers International
More informationBERKO & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES
BERKO & ASSOCIATES COMMERCIAL REAL ESTATE SERVICES A Letter from the President Dear Investor, For nearly a decade, Berko & Associates has taken great pride assisting our clients achieve financial success
More informationHouston s Class A Medical Office Rental Rate Increases by 7.4% in First Half of 2012
MIDYEAR 2012 MEDICAL OFFICE COLLIERS HEALTHCARE SERVICES GROUP - Houston Texas HEALTHCARE MARKET COMMENTARY Houston Houston s Class A Medical Office Rental Rate Increases by 7.4% in First Half of 2012
More informationSuburban Boston Office MarketView
Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 7.3% MA UNEMPLOYMENT 7.2% OCCUPIED SF 93.3M AVAILABILITY 20.5% SUBLEASE SF 2.9M UNDER CONSTRUCTION 1.1M *Arrows indicate
More informationMarch 13, 2006. Hon. Scott M. Stringer Manhattan Borough President 1 Centre Street New York, NY 10007. Dear Borough President Stringer:
THE CITY OF NEW YORK INDEPENDENT BUDGET OFFICE 110 WILLIAM STREET, 14 TH FLOOR NEW YORK, NEW YORK 10038 (212) 442-0632 FAX (212) 442-0350 EMAIL: ibo@ibo.nyc.ny.us http://www.ibo.nyc.ny.us Hon. Scott M.
More informationTHE LOWER MANHATTAN ECONOMY
THE LOWER MANHATTAN ECONOMY New York State Assembly Sheldon Silver Speaker of the Assembly May 2, 25 Since the release of the Assembly report entitled New York State, The Lower Economy After September
More informationReal Estate Trends. in the Sacramento Region. Key Points
Real Estate Trends The opening of Golden 1 Center in the fall of 2016 will certainly be one of the most significant events in recent Sacramento history. Golden 1 Center Downtown Sacramento photo credit:
More informationEconomic and Market Outlook: SAN ANTONIO OFFICE Q3 2015
Economic and Market Outlook: SAN ANTONIO OFFICE Q3 2015 HOUSTON SAN ANTONIO AUSTIN Executive Summary Table 1. Key market indicators for Q3 2015, and their percent (%) change on a quarter-over-quarter (QoQ)
More informationLEXINGTON CENTRAL BUSINESS DISTRICT OFFICE MARKET (4 th Quarter - 2013)
LEXINGTON CENTRAL BUSINESS DISTRICT OFFICE MARKET (4 th Quarter - 2013) Coleman Group, LLC has prepared the enclosed Central Business District Office Market Study designed to track vacancy and rent levels
More informationDespite Continued Spec Development, Demand Pushes Vacancy Down
Research & Forecast Report CHICAGO BIG BOX Fourth Quarter 15 Despite Continued Spec Development, Demand Pushes Vacancy Down Craig Hurvitz Vice President Chicago Vacancy And Supply Four big box developments
More informationMinneapolis/St. Paul Office MarketView
Minneapolis/St. Paul Office MarketView Q2 2014 CBRE Global Research and Consulting BIG 2ND QUARTER HAS VACANCY RATE TRENDING DOWNWARD Quick Stats GDP GROWTH MN EXPORTS MN UNEMPLOYMENT CONSUMER SPENDING
More informationMore than 72 million sq. ft.
SPRING 2012 RESEARCH PUBLICATION Major NYC Activity & Holdings A Comparative Analysis of the Notable -owned Manhattan Office Properties & Portfolios A research report prepared for the Steven L. Newman
More information183 Madison Ave New York, NY 10016
183 Madison Ave New York, NY 10016 Contents Reis Observer 3 Metro Analysis Section 1 - Current Metro Rent Details 17 Section 2 - Rent Growth Comparisons 17 Section 3 - Current Metro Vacancy Details 18
More informationIndustrial Outlook. Large investor appetite coupled with strengthening market fundamentals shows promise for year ahead. Miami-Dade Q1 2014
Industrial Outlook Miami-Dade Q1 2014 Large investor appetite coupled with strengthening market fundamentals shows promise for year ahead Heightened investor interest has lead to increased competition
More informationPRIVATE EQUITY & HEDGE FUND OFFICE MARKET UPDATE LONDON
PRIVATE EQUITY & HEDGE FUND OFFICE MARKET UPDATE LONDON March 2012 OVERVIEW We are seeing more start up hedge funds coming to the market for office space. It remains to be seen whether this is a seasonal
More informationC&W ECONOMIC UPDATE NATIONAL ECONOMIC OUTLOOK & REGIONAL OFFICE MARKET UPDATE: NEW YORK U.S. & NEW YORK CITY
C&W ECONOMIC U.S. & NEW YORK CITY NATIONAL ECONOMIC OUTLOOK & REGIONAL OFFICE MARKET : NEW YORK The national economy remains in slow growth mode as the uncertainty created by the seemingly endless series
More informationHouston Medical Office Market Slowly Recovering
Q4 2011 COLLIERS HEALTHCARE SERVICES GROUP - Houston Texas HEALTHCARE MARKET COMMENTARY Houston Medical Office Market Slowly Recovering Houston Houston s medical office market closed 4Q 2011 with encouraging
More informationNow available on your iphone!
Now available on your iphone! 1 2 3 4 West 53rd Street Columbus Avenue West 64th Str West 77th Street West 76th Street West 75th Street West 74th Street West 73rd Street West 72nd Street West 71st
More informationGRUPO ATLANTIA Pª DE LA CASTELLANA, 128-3º E-28046 MADRID OFICINA INMOBILIARIA
GRUPO ATLANTIA ABOUT US Grupo Atlantia is currently offering to its clients a variety of integrated professional services, which is not common in the Spanish REAL ESTATE market. This ample selection of
More informationLents Town Center Mixed-Use Market Study Office Market Analysis Lents, Oregon
Lents Town Center Mixed-Use Market Study Office Market Analysis Lents, Oregon Portland Development Commission January 2008 Draft Copy 9220 SW Barbur Boulevard Portland, Oregon 97219 503.636.1659 www.marketekinc.com
More informationOmaha s Office Market Continues To Improve
Research & Forecast Report OMAHA OFFICE Third Quarter 2015 Omaha s Office Market Continues To Improve The Omaha office market continues to improve in the third quarter of 2015 as it experienced another
More informationEQUITY OFFICE ANNOUNCES FIRST QUARTER 2004 RESULTS
Two North Riverside Plaza, Suite 2100 Chicago, Illinois 60606 phone 312.466.3300 fax 312.454.0332 www.equityoffice.com Equity Office (Investors/Analysts): Diane Morefield 312.466.3286 Equity Office (Media):
More informationImpact Analysis: The Atlanta Braves new Stadium Project. March 2014. A Cushman & Wakefield Research Publication
Impact : The new Stadium Project A Cushman & Wakefield Research Publication March 2014 1 Executive Summary The new baseball stadium project will dramatically transform the Cumberland/Galleria area of Northwest
More informationManhattan Office Property Price Index August 4, 2011 DJIA: RMZ: 10-Yr Treasury Note:
Manhattan Office Property Price Index August 4, 2011 DJIA: RMZ: 10-Yr Treasury Note: 11,896 792 2.6% Waiting for Next Steps The is up dramatically from its lows, but remains below the frenzied values that
More informationBUSINESS BRIEFING SELF STORAGE
BUSINESS BRIEFING VALUATION & ADVISORY A Cushman & Wakefield Valuation & Advisory Publication JANUARY 2015 SOLID YEAR AHEAD IN As we enter 2015, investors always ask about market expectations for the New
More informationQ4 2013. National Data Center Market Update GLOSSARY OF TERMS DATA CENTER SOLUTIONS GROUP
Q4 2013 National Data Center Market Update GLOSSARY OF TERMS DC Abbreviation for data center RFSF Abbreviation for raised floor square footage MW / kw Abbreviation for megawatt and kilowatt Powered Shells
More informationManhattan Office Market
Manhattan Office Market 1 ST QUARTER 2015 REPORT A NEWS RECAP AND MARKET SNAPSHOT Pictured: 380 Second Avenue Looking Ahead Potential Garment District Rezoning Brings Mixed Response The city s Garment
More informationCanada. What s Typical? CBRE Offices. For More Information
What s Typical? Term, generally any length Breaks Renewal Rent Gross Free rent Escalation Security Fit-out Landlord often contributes or builds Tenant broker Landlord pays Right to sublet Common Transparency
More informationSublease Space Thwarts a Good Quarter
Research & Forecast Report RENO INDUSTRIAL Q3 Sublease Space Thwarts a Good Quarter > > Overall vacancy rate rose to 10.95% (without sublease space 8.16%) > > New construction completions totaled 626,000
More informationDiscretionary Capital Expenditures. Discretionary Capital Expenditure. Presented by Byron Smith, CCIM
Discretionary Capital Expenditures Discretionary Capital Expenditure Presented by Byron Smith, CCIM Discretionary Capital Expenditure Case Study Overview During the holding period of a commercial real
More informationLee & Associates NYC is a full-service commercial real estate firm dedicated to providing
LEE NYC OFFICE who we are Lee & Associates NYC is a full-service commercial real estate firm dedicated to providing economic value through its services. What exactly does that mean? It means we assemble
More informationEconomic Impact and Development Analysis. Proposed Sports Entertainment District
THE LONDON GROUP Economic Impact and Development Analysis Proposed Sports Entertainment District Prepared For: The City of Escondido November 2010 The London Group 2010 Report Prepared by: Gary H. London,
More informationSeller will only entertain offers for the purchase of the Portfolio as a whole and not on individual properties or property multiples.
Offering Summary Brookfield Financial Real Estate Group New York, LLC Brokerage ( Brookfield Financial or Advisor ) has been exclusively retained by Broadway Portfolio IV Owner, LLC (the Seller or Lender
More informationYour Strongest Asset Is Us
Your Strongest Asset Is Us NAI James E. Hanson was able to meet our needs and find the perfect location for us About Us - Arthur Aranda Founder/President Garden State Mortgage NAI James E. Hanson is committed
More informationMidwest Region. Chicago Cincinnati Cleveland Columbus Detroit Indianapolis Kansas City Milwaukee Minneapolis Omaha St.
Midwest Region Chicago Cincinnati Cleveland Columbus Detroit Indianapolis Kansas City Milwaukee Minneapolis Omaha St. Louis Toledo MidwestMarketSnapshot Trusted Advice. Proven Performance. CBRE/Torto Wheaton
More informationAdditional information >>> HERE <<< Getting Start new york city apartment names - ebook
Additional information >>> HERE http://urlzz.org/uslease/pdx/fph1 Tags:
More informationExclusive Offering Memorandum
135 West Wells Street, Suite 200 Milwaukee, WI 53203 www.prowesscommercial RealEstate.com Exclusive Offering Memorandum Presented By: Josh Manchester Direct: 414-899-3155 Josh.Manchester@ProwessCRE.com
More informationSubmarket Analysis. Flex/R&D. Powered by Reis, inc.
Submarket Analysis Flex/R&D Powered by Reis, inc. Section 1 - Current Submarket Rent Details Asking Rent by Age Asking Rent Distribution Asking Rent Growth Rate Distribution Year Built Rent Before 1970
More informationWest Los Angeles Market Sees Negative Demand for First Time in Twelve Quarters
OFFICE MARKET REPORT West Los Angeles Market Sees Negative Demand for First Time in Twelve Quarters MARKET OVERVIEW MARKET INDICATORS - VACANCY 12.9% NET ABSORPTION -349,900 CONSTRUCTION 972,700 RENTAL
More informationPeeling The Onion on Capitalization Rates
The compression in cap rates during the 2005-2007 commercial real estate (CRE) bubble led to miscalculations on the part of many sophisticated investors in regards to exit valuations. As we quantitatively
More informationU.S. Office Market Report
March 2012 New York Chicago Dallas Miami San Diego Washington D.C. www.falconreal.com Key Markets Current U.S. Market Overview... 3 Summary of Statistical Data... 5 Primary Office Markets: Boston... 7
More informationMiami DDA Office Area. (134 Office Buildings)
Miami DDA Office Area (134 Office Buildings) Miami Dade County Office Employment Growth 1988 to 2013: Following economic downturn, Miami Dade County office employment experiencing modest, but sustained
More informationOffice Leasing and Investment
MarkEt REPORT Berlin 214/215 Office Leasing and Investment Accelerating success, Office leasing Berlin STATISTICS Population 3,422, Unemployment rate 11.1 % Employees paying social security contributions
More informationHOUSTON RETAIL PERFORMANCE UPDATE
Published by: O Connor & Associates 2200 N. Loop West, Suite 200 Houston, TX 77018 713.686.9955 HOUSTON RETAIL PERFORMANCE UPDATE EDITED BY KATHRYN KOEPKE $499 PER YEAR VOLUME 9 NUMBER 4 FOURTH QUARTER
More informationDOWNTOWN BROOKLYN PLAN. Summary
DOWNTOWN 1 BROOKLYN PLAN Summary Economic Perspective 2 NYC Jobs at Risk as Result of Lack of Affordable Office Space NYC's regional position in decline Over past three decades, NYC s share of regional
More informationEarly Learning Coalition of Miami-Dade/Monroe, Inc. Office Space Search
Early Learning Coalition of Miami-Dade/Monroe, Inc. Office Space Search August 3, 2009 Introduction President of Paul L. White & Associates, Inc., a commercial real estate consulting company Director,
More informationSublease Overview. Office users are taking advantage of lower lease rates on higher quality product.
Key Office Market Indicators Henry County, GA 12-month outlook 1Q 2013 statistics Total office inventory 1,508,404 SF Building Overview/Current Offering Address: Location: Building Class: Year Built: 2007
More informationManhattan Office Market
Manhattan Office Market 4 TH QUARTER 2015 REPORT A NEWS RECAP AND MARKET SNAPSHOT Pictured: 17-19 Union Square West Looking Ahead NYC Economic Development Corp. Initiatives to Focus on Job Growth A proposal
More informationManhattan 2013 Mid-Year Sales Report
Manhattan 2013 Mid-Year Sales Report by Ariel Property Advisors Released July 2013 Join Our E-mail List: e-mail join@arielpa.com or visit arielpa.com Ariel Property Advisors Building Results 122 East 42
More informationVacant College Campus 1015 Jackson Keller Rd.
Vacant College Campus 1015 Jackson Keller Rd. San Antonio, TX 78213 1015 Jackson Keller Size: 34,796 SF, two story, single-tenant office. Location: Jackson Keller Road, a busy commercial thoroughfare inside
More informationTenure by Household Size - 2009
NEIGHBORHOOD APARTMENT MARKET ANALYSIS CITY OF CHICAGO Market Composition & Distribution The neighborhood apartment market consists of a range of properties developed from the early 1900s to more modern,
More informationA LETTER FROM THE CEO
2014 A LETTER FROM THE CEO Kushner Companies is a diversified real estate organization headquartered in New York City. Our Company is responsible for the ownership, management, development and redevelopment
More information