Vacancy Down, Rental Rates Up

Size: px
Start display at page:

Download "Vacancy Down, Rental Rates Up"

Transcription

1 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 Suburban office continues to drive the market with the majority of activity located in the Clayton submarket. Overall vacancy for the region stands at 14% currently, a bit high compared to other Midwestern markets but down from 15.4% a year ago. With large blocks of space (50,000 square feet or more) in limited supply, Class A vacancy landed at 11.4% at the end of first quarter 2016, down from 12.5% year-over-year. Market Indicators Q Q Q FORECAST VACANCY CONSTRUCTION RENTAL RATE Vacancy & Rental Rates Construction in the region remains centered around build-to-suits. Currently, World Wide Technology is building a 210,000-squarefoot facility in the Westport submarket. Additionally, BJC and Washington University are building a 510,000-square-foot office tower in St. Louis City. Last November, a $68 million, 14-story, 233,000-square-foot speculative office tower was proposed for the Clayton submarket. This project is expected to break ground in May This is the first office spec building announced in many years, an encouraging sign for the region. $18.80 $18.70 $18.60 $18.50 $18.40 $18.30 $ % 18% 16% 14% 12% Key Takeaways from Q $ Q12 1Q13 1Q14 1Q15 1Q16 10% St. Louis office market sales activity continued to perform well from the end of 2015 into the first quarter of 2016 with over 400,000 square feet traded. Employment Direct Avg Rent Overall Vacancy Rate Rental rates in St. Louis increased by $0.24 a square foot year-over-year. Currently, average rental rates stand at $18.68 per square foot for all inventory and at $21.80 per square foot for Class A property. Approximately 190,000 square feet is available in the market for sublease. About 40% of this availability is attributed to Boeing putting 75,000 square feet of office space on the market for sublease during first quarter In March 2016, the U.S. economy added 215,000 jobs with growth expected to continue. Wage growth is also up, at $25.43 an hour at the end of March. This is a $0.56 increase year-over-year or 2.3%. According to the U.S. Department of Labor, both job and wage growth surpassed expectations this last reporting period. However, economists warn that wages should be growing at the similar pace as jobs. Ideally, a wage growth of between 3.0 to 3.5 percent is needed to lift inflation to the Federal Reserve s 2.0 percent target.

2 Submarket Snapshot Greater St. Louis Region MARKET EXISTING INVENTORY (SF) OVERALL VACANT SF OVERALL VACANCY % VACANT SF VACANCY % OVERALL NET (YTD) NET (YTD) AVERAGE RENT CLASS A St. Louis City 5,131, , % 828, % 29,608 29,608 $18.72 Clayton 4,608, , % 353, % 39,844 31,468 $26.64 Westport 938, , % 212, % 5, $22.32 Olive/ I-270 2,297, , % 237, % 8,262 22,275 $24.22 Chesterfield 4,311, , % 301, % (64,843) (59,700) $26.55 Manchester/ I ,634 55, % 55, % 53,188 53,188 $23.39 I-44/ I ,127 5, % 5, % (1,642) (1,642) $23.12 Earth City 1,613, , % 135, % 0 0 $20.35 Airport 715,275 47, % 47, % 1,804 1, St. Charles County 968, , % 168, % 10,899 10,899 $19.53 Class A Totals 21,909,490 2,501, % 2,346, % 82,892 88,799 $21.80 CLASS B St. Louis City 4,383,660 1,208, % 1,205, % 1,818 4,669 $13.43 Clayton 3,291, , % 336, % 12,200 12,200 $19.22 Westport 2,014, , % 370, % 57,824 57,824 $17.50 Olive/ I-270 3,413, , % 421, % 2,684 2,684 $17.59 Chesterfield 2,153, , % 307, % (37,787) (37,787) $19.49 Manchester/ I-270 1,157, , % 106, % 2,161 2,161 $18.36 I-44/ I-270 2,600, , % 186, % 3,019 3,019 $19.68 Earth City 1,174, , % 167, % (33,405) (33,405) $16.05 Airport 1,235, , % 285, % 0 0 $13.97 St. Charles County 1,437, , % 170, % 18,556 18,556 $13.05 Class B Totals 22,861,915 3,591, % 3,557, % 27,070 29,921 $16.19 CLASS C St. Louis City 2,004, , % 471, % (925) (925) $13.40 Clayton 545,033 67, % 67, % 3,150 3,150 $17.24 Westport 48,100 3, % 3, % 2,700 2,700 $14.08 Olive/ I ,678 34, % 34, % 6,036 6,036 $14.71 Chesterfield 68, % 0 0.0% Manchester/ I ,322 3, % 3, % 0 0 $16.37 I-44/ I ,889 22, % 22, % 1,350 1,350 $16.39 Earth City Airport 55,462 3, % 3, % 0 0 $11.40 St. Charles County 370,995 72, % 72, % (1,349) (1,349) $13.75 Class C Totals 3,548, , % 678, % 10,962 10,962 $14.09 MARKET TOTALS 48,320,387 6,771, % 6,582, % 120, ,682 $ Research & Forecast Report Q St. Louis - Office Colliers International

3 Q Leasing & Sales Activity Notable Sales Comps PROPERTY SUBMARKET PRICE SF PRICE SF CLASS 100 Richmond Center St. Charles County $7,000,000 71,280 $98.20 A 1501 Washington Ave* St. Louis City $4,500, ,000 $32.14 C 900 Hornet Dr Airport $2,200,000 60,832 $36.17 B 4236 Lindell Blvd St. Louis City $1,455,000 43,506 $33.44 C 390 S Woodsmill Rd Chesterfield Undisclosed 80,982 Undisclosed B *will be converted into multifamily Notable Lease Transactions TENANT SUBMARKET PROPERTY RSF CLASS TYPE Federal Reserve Bank St. Louis City 500 N Broadway 56,000 A New Lease Anders CPA St. Louis City 800 Market St 20,298 A Expansion Nike Clayton 1 N Brentwood Blvd 12,916 A New Lease Flat World Supply Chain St. Charles 2342 Technology Dr 12,057 A Expansion Historic Leasing & Sales Activity Square Feet 1,200,000 1,000, , , ,000 Q Takeaway Stats Q Q YOY % CHANGE Overall Vacancy 15.4% 14.0% -9.0% Direct Asking Rents (PSF) $18.44 $ % 200, Q16 1Q15 1Q14 1Q13 1Q12 Class A Rents (PSF) YTD Leasing Activity (SF) $21.75 $ % 651, , % QTR LEASING ACTIVITY *(no Renewals!) *leasing activity does not include renewals QTR SALES ACTIVITY Under Construction (SF) 180, , % 3 Research & Forecast Report Q St. Louis - Office Colliers International

4 Greater St. Louis Region SUBMARKET MAP N ST. LOUIS CITY # of Buildings - 80 CHESTERFIELD # of Buildings - 86 AIRPORT # of Buildings - 29 CLAYTON # of Buildings MANCHESTER/ I-270 # of Buildings - 45 ST. CHARLES COUNTY # of Buildings - 95 WESTPORT # of Buildings - 50 I-44/ I-270 # of Buildings - 67 OLIVE/ I-270 # of Buildings EARTH CITY # of Buildings Research & Forecast Report Q St. Louis - Office Colliers International

5 $2.5 billion in annual revenue 66 countries 2.0 billion square feet under management MARKET CONTACT C. Kevin Gallagher, CCIM, SIOR Executive Vice President and Managing Director St. Louis REGIONAL AUTHORS Allison Gray Director of Research Pam Boelhauf Director of Marketing & Public Relations Colliers International St. Louis 101 S. Hanley Road, Ste St. Louis, MO USA ,000 professionals and staff 80,000 lease/sale transactions $112 billion total transaction volume About Colliers International Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting. Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals Global Outsourcing for 11 consecutive years, more than any other real estate services firm. colliers.com/stlouis Copyright 2016 Colliers International. The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.

The Little Train That Could

The 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 information

Sublease Space Thwarts a Good Quarter

Sublease 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 information

Despite Continued Spec Development, Demand Pushes Vacancy Down

Despite 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 information

>> Industrial Starts Off 2016 With Positive Momentum

>> Industrial Starts Off 2016 With Positive Momentum Research & Forecast Report ORANGE COUNTY INDUSTRIAL Q1 2016 Accelerating success. >> Industrial Starts Off 2016 With Positive Momentum Key Takeaways > Orange County Industrial continued on a positive path

More information

The Turn PLEASANTON TRI-VALLEY OFFICE Q Research & Forecast Report. Market Trends Relative to prior period Q Q3 2015*

The Turn PLEASANTON TRI-VALLEY OFFICE Q Research & Forecast Report. Market Trends Relative to prior period Q Q3 2015* Research & Forecast Report PLEASANTON TRI-VALLEY OFFICE Q2 The Turn > Leasing activity remains strong with 751,397 square feet in the first half of. > Asking rates remain relatively flat but have increased

More information

4Q 15. Industrial Market Report

4Q 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 information

Multifamily Market Strengthens as Employers Add Workers

Multifamily Market Strengthens as Employers Add Workers Research & Forecast Report TUCSON METRO AREA MULTIFAMILY 2 Multifamily Market Strengthens as Employers Add Workers Key Takeaways > > Employment growth in Tucson closed 2 on an upswing. Approximately 5,6

More information

Market 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. 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 information

Illusive Positives ALBUQUERQUE, NEW MEXICO INDUSTRIAL TRENDS REPORT Q INDUSTRIAL

Illusive Positives ALBUQUERQUE, NEW MEXICO INDUSTRIAL TRENDS REPORT Q INDUSTRIAL Q2 2014 INDUSTRIAL ALBUQUERQUE, NEW MEXICO INDUSTRIAL TRENDS REPORT MARKET INDICATORS Q1 14 Q2 14 VACANCY NET ABSORPTION CONSTRUCTION RENTAL RATE Illusive Positives On the surface the market appears to

More information

Increasing Activity Sets the Stage for a Healthy Fourth Quarter

Increasing Activity Sets the Stage for a Healthy Fourth Quarter Research & Forecast Report GREATER PHOENIX INDUSTRIAL Increasing Activity Sets the Stage for a Healthy Fourth Quarter Key Takeaways >> Industrial vacancy in Greater Phoenix improved modestly in the third

More information

5 TH 35 TH. The footprint of Chinese banks in Hong Kong. The Going Out policy. Freely Floated. Hong Kong Market Insights Office September 2015

5 TH 35 TH. The footprint of Chinese banks in Hong Kong. The Going Out policy. Freely Floated. Hong Kong Market Insights Office September 2015 Market Insights Office September 2015 The footprint of Chinese banks in Simon Lo Executive Director Asia The Going Out policy Since the beginning of the millennium, mainland enterprises have been encouraged

More information

NAI Houston Office Report First Quarter 2012

NAI 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 information

Vacancy Rate Increases Above 20% As Space Givebacks Continue

Vacancy 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 information

Minneapolis/St. Paul Office MarketView

Minneapolis/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 information

>> New Construction Delivers to the Orange County Office Market

>> 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 information

Leasing and investment market off to a lively start in 2016

Leasing and investment market off to a lively start in 2016 Düsseldorf Market Report Office Leasing and Investment Q1 2016 Leasing and investment market off to a lively start in 2016 Lars Zenke Director Research Düsseldorf Office Leasing The Düsseldorf office leasing

More information

Analyzing Global Business Process Outsourcing Locations: US, Latin America, South/Southeast Asia

Analyzing Global Business Process Outsourcing Locations: US, Latin America, South/Southeast Asia Accelerating success. Colliers Strategy & Innovation Insights THIRD QUARTER 2015 Analyzing Global Business Process Outsourcing Locations: US, Latin America, South/Southeast Asia Colliers Strategy & Innovation

More information

After Strong 2015, Omaha Exudes Cautious Optimism

After Strong 2015, Omaha Exudes Cautious Optimism Research & Forecast Report OMAHA OFFICE Fourth Quarter 2015 After Strong 2015, Omaha Exudes Cautious Optimism The Omaha office market continued to improve in the fourth quarter of 2015 as it experienced

More information

GREATER TORONTO AREA LAND REPORT

GREATER TORONTO AREA LAND REPORT Research & Forecast Report GREATER TORONTO AREA LAND REPORT Fall 05 GTA Overview Market Overview In 05, the Greater Toronto Area (GTA) continues to experience a healthy volume of transactions from 04 and

More information

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe EMEA Office July 2015 LARGE OFFICE SPACE Where to find 5,000 sq m in Europe HIGHLIGHTS The availability of large office premises has reduced by 12% year-on-year Choice is limited - only 19% of options

More information

CHICAGO INDUSTRIAL OVERVIEW

CHICAGO INDUSTRIAL OVERVIEW CHICAGO INDUSTRIAL OVERVIEW FIRST QUARTER 2015 Vacancy Rate Net Absorption Asking Rents 7.93% 2,703,658 SF VACANCY Vacancy rates continued to improve across the Greater land industrial market in 2014.

More information

Central Los Angeles Leasing Activity Surges Despite Negative Absorption

Central 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 information

FIRST 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 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 information

Pace of Improvement Accelerates to Start 2016

Pace of Improvement Accelerates to Start 2016 Research & Forecast Report TUCSON METRO AREA MULTIFAMILY 2 Pace of Improvement Accelerates to Start 2 Key Takeaways > > A strengthening labor market is supporting multifamily conditions in Tucson. Employers

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL 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 information

Renewals Dominate Downtown Los Angeles Activity as Vacancy Decreases

Renewals 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 information

Omaha s Office Market Continues To Improve

Omaha 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 information

Milwaukee, 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 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 information

MARKET REPORT SECOND QUARTER Market Still Contracting Tech Growth Slow in Coming Q NORTHERN VIRGINIA OFFICE MARKET SUMMARY MARKET OUTLOOK

MARKET REPORT SECOND QUARTER Market Still Contracting Tech Growth Slow in Coming Q NORTHERN VIRGINIA OFFICE MARKET SUMMARY MARKET OUTLOOK Q2 2014 NORTHERN VIRGINIA OFFICE NORTHERN MARKET REPORT VIRGINIA Q2 OFFICE 2014 NORTHERN VIRGINIA OFFICE MARKET REPORT SECOND QUARTER 2014 Market Still Contracting Tech Growth Slow in Coming MARKET OUTLOOK

More information

>> Market Sees Rising Rents Amid Steady Demand

>> Market Sees Rising Rents Amid Steady Demand Research & Forecast Report GREATER L.A. OFFICE Q1 216 Accelerating success. >> Market Sees Rising Rents Amid Steady Demand Key Takeaways > The Greater Los Angeles Basin office market recorded positive

More information

VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS

VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS Contact: Jerry Holdner Voit Real Estate Services (949) 263-5371 Jholdner@voitco.com VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS Orange County,

More information

New York City Office Market Report, Second Quarter 2013

New York City Office Market Report, Second Quarter 2013 New York City Office Market Report, Second Quarter 2013 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

More information

Sales Velocity Surges as Rents Push Higher

Sales Velocity Surges as Rents Push Higher Research & Forecast Report GREATER PHOENIX MULTIFAMILY 2 Sales Velocity Surges as Push Higher Key Takeaways > > The Greater Phoenix multifamily market continued to improve in the fourth quarter, capping

More information

Suburban Boston Office MarketView

Suburban Boston Office MarketView Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 6.3% OCCUPIED SQ. FT. 93.4M AVAILABILITY 20.2% SUBLEASE SQ. FT. 2.7M UNDER CONSTRUCTION 1.6M

More information

Midtown South Manhattan Office MarketView

Midtown 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 information

OHIO RESEARCH RECOVERY STILL PROGRESSING. Brian T. Graham, CCIM Valuation & Advisory Services Director of Research Ohio brian.graham@colliers.

OHIO 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 information

Houston Medical Office Market Slowly Recovering

Houston 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 information

New York City Office Market Report, First Quarter 2013

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 information

Leasing activity drives new construction in Milwaukee

Leasing 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

THIRD 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 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 information

Industrial Outlook Baltimore/Washington. Q1 2013

Industrial Outlook Baltimore/Washington. Q1 2013 Industrial Outlook Baltimore/Washington. Q1 2013 Mixed start to 2013 across the region Baltimore industrial properties saw continued interest from tenants, most notably north of the city in Harford County,

More information

West Los Angeles Office Market Report

West Los Angeles Office Market Report FOURTH QUARTER 2014 West Los Angeles Office Market Report Partnership. Performance. www.avisonyoung.com New Jersey FOURTH QUARTER 2014 West Los Angeles Office Market Report Partnership. Performance. Market

More information

Revenue up 12% (17% in local currency), adjusted EBITDA up 52% (60% in local currency)

Revenue up 12% (17% in local currency), adjusted EBITDA up 52% (60% in local currency) COMPANY CONTACTS: Jay S. Hennick Chairman & CEO John B. Friedrichsen Senior Vice President & CFO (416) 960-9500 FOR IMMEDIATE RELEASE Colliers International reports strong first quarter results Revenue

More information

Baltimore/Washington DC Industrial Report Q4 2009

Baltimore/Washington DC Industrial Report Q4 2009 Americas Research Baltimore/Washington DC Industrial Report Q4 29 Industrial transaction volume remained below historical averages during the fourth quarter due to reduced tenant demand for both flex and

More information

Discretionary Capital Expenditures. Discretionary Capital Expenditure. Presented by Byron Smith, CCIM

Discretionary 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 information

Economic Growth Drives Demand in Cincinnati Commercial Property Markets

Economic Growth Drives Demand in Cincinnati Commercial Property Markets Research & Forecast Report CINCINNATI SUMMARY 2015 Economic Growth Drives Demand in Cincinnati Commercial Property Markets Executive Summary During 2015, the Cincinnati commercial real estate market witnessed

More information

Strengthening Fundamentals Fueling Investment Activity

Strengthening Fundamentals Fueling Investment Activity Research & Forecast Report GREATER PHOENIX MULTIFAMILY 2 Strengthening Fundamentals Fueling Investment Activity Key Takeaways > > Multifamily conditions improved in Greater Phoenix during the third quarter,

More information

North America Report. Industrial Logistics & Transportation Solutions Outlook. Big-Box. Market Report

North America Report. Industrial Logistics & Transportation Solutions Outlook. Big-Box. Market Report North America Report Industrial Logistics & Transportation Solutions 2016 Outlook Big-Box Market Report Notes from Leadership Colliers International s Logistics & Transportation Solutions Group is pleased

More information

Commercial Real Estate Vacancy Overview

Commercial 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 information

Industrial market. ST. PETERSBURG

Industrial market. ST. PETERSBURG Industrial market. ST. PETERSBURG Key industrial market indicators, 214 Supply INDEX VALUE Total stock 2.45 million m 2 Speculative stock 1.4 million m 2 New supply 355, m 2 Take-up 337, m 2 Vacancy rate

More information

Market Rents Maintain Their Upward Trajectory

Market Rents Maintain Their Upward Trajectory Research & Forecast Report GREATER PHOENIX MULTIFAMILY 2 Market Rents Maintain Their Upward Trajectory Market Indicators Relative to prior period Key Takeaways >> Despite a modest uptick during the second

More information

Land Advisory Group Specialized Real Estate Services

Land 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 information

Net absorption was negative 67,299 square feet this quarter, marking a second consecutive quarter of negative net absorption.

Net 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 information

MARKET WATCH. Market Highlights Office Total Inventory 358,692,803 Total Vacancy Rate 14.4% Select Sitar Transactions 2Q 2014. Economic Indicators

MARKET 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 information

Apartment Outlook Miami

Apartment Outlook Miami 5.3 6.1 5.7 6.4 143 117 174 135 9 915 12 1209 84 17.1 267 28.4 Outlook Q1 CBRE - Overview The population of the area stands at 2.69 million, 25th largest of the apartment markets we track. The average

More information

GREATER COLUMBUS OFFICE MARKET OVERVIEW. Current Market Trends

GREATER 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 information

Houston s Class A Medical Office Rental Rate Increases by 7.4% in First Half of 2012

Houston 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 information

Market 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 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 information

CAPITAL MARKETS AND INVESTMENT SERVICES INDIA

CAPITAL MARKETS AND INVESTMENT SERVICES INDIA CAPITAL MARKETS AND INVESTMENT SERVICES INDIA Getting to know us Colliers International s Capital Markets and Investment Services (CMIS) team assists investors and real estate developers in optimising

More information

Presented to: Presented by:

Presented to: Presented by: MIDYEAR UPDATE Commercial Real Estate & the Economy Presented to: Presented by: CBRE, INC. Michael Silver, SIOR First Vice President Industrial Brokerage Services July 25 th, 2013 July 2013: MARKET BUILDING

More information

Miami DDA Office Area. (134 Office Buildings)

Miami 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 information

Specialized Real Estate Solutions: Investor Services

Specialized Real Estate Solutions: Investor Services Specialized Real Estate Solutions: Investor Services United States Accelerating success. Industrial Grade: AGILE. Sturdy. ResilienT. Industrial real estate professionals at Colliers International bring

More information

Orange County Office Market Report

Orange County Office Market Report FIRST QUARTER 2015 Orange County Office Market Report Partnership. Performance. Avison Young - Irvine 2030 Main Street, Suite 150 Irvine, CA 92614 949.757.1190 www.avisonyoung.com FIRST QUARTER 2015 Orange

More information

ReSeARch & FoRecAST RePoRT

ReSeARch & FoRecAST RePoRT Q4 2011 industrial las Vegas nevada ReSeARch & FoRecAST RePoRT Industrial Market Review Southern Nevada s industrial market ended a wobbly year with a positive showing, bringing net absorption for the

More information

Life Sciences Outlook. San Diego 2015

Life Sciences Outlook. San Diego 2015 Life Sciences Outlook San Diego 2015 San Diego San Diego saw $43.8 billion in M&A transactions from 2011 through 2014. Large pharmaceutical companies are purchasing biotech firms to fill their R&D pipelines,

More information

FOR LEASE 3,000 to 25,000 SF

FOR LEASE 3,000 to 25,000 SF FOR LEASE 3,000 to 25,000 SF 1908-2000 Dr Overland, MO SITE Key Features Available Suites: Ste 1918* - 6,108 SF Ste 1976-3,585 SF Ste 1922* - 4,428 SF Ste 1982* - 3,208 SF Ste 1926* - 7,401 SF Ste 1984*

More information

Green Space. 4 th Quarter 2015 Ottawa Green Office Market Report

Green Space. 4 th Quarter 2015 Ottawa Green Office Market Report Green Space 4 th Quarter 2015 Ottawa Green Office Market Report Green Space 4 th Quarter 2015 Ottawa Green Office Market Report Market Commentary Ottawa s office market finished the year pretty much at

More information

Life Sciences Outlook. Seattle-Bellevue 2015

Life Sciences Outlook. Seattle-Bellevue 2015 Life Sciences Outlook Seattle-Bellevue 215 Seattle-Bellevue Seattle s life sciences industry has exploded over the last few years, with one of the largest increases in employment of all life sciences clusters,

More information

Overview of Florida Commercial Real Estate Markets

Overview of Florida Commercial Real Estate Markets Overview of Florida Commercial Real Estate Markets Presented to: January 25, 2007 Florida Overview Increasing population (4 th most populous state) Current population +/- 17.9 million 12.2% increase since

More information

Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student

Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student Portland Office Market Most brokers agree that the office market has worsened this quarter over last,

More information

EFFECTIVE RENT REPORT

EFFECTIVE 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 information

Record office take-up Investment market remains dynamic

Record office take-up Investment market remains dynamic Berlin Market Report OFFICE LEASING AND INVESTMENT Q1 2016 Record office take-up Investment market remains dynamic Margit Lippold Director Research Office leasing Office take-up (in 1,000 sqm) including

More information

West Los Angeles Market Sees Negative Demand for First Time in Twelve Quarters

West 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 information

Economic Impact and Development Analysis. Proposed Sports Entertainment District

Economic 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 information

Suburban Boston Office MarketView

Suburban 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 information

Industrial Outlook. Large investor appetite coupled with strengthening market fundamentals shows promise for year ahead. Miami-Dade Q1 2014

Industrial 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 information

ECONOMIC SNAPSHOT. A Summary of the San Diego Regional Economy UNEMPLOYMENT

ECONOMIC SNAPSHOT. A Summary of the San Diego Regional Economy UNEMPLOYMENT A Summary of the San Diego Regional Economy Brought to you by San Diego Regional EDC analyzes key economic metrics that are important to understanding the regional economy and San Diego s standing relative

More information

Life Sciences Outlook. Chicago 2015

Life Sciences Outlook. Chicago 2015 Life Sciences Outlook Chicago 2015 Chicago With a population of 9.5 million, the Chicago metropolitan region benefits from a highly educated workforce and is home to two federal scientific research institutions.

More information

Why Priority Properties?

Why Priority Properties? Why Priority Properties? Agenda Experience Benefits Focus Economics Innovation Compatibility Services Available Sample of Locally Managed Assets Site Plan Example Key Objectives The Answer: Priority Properties

More information

FOR SALE: TWO COMMERCIAL BUILDINGS

FOR SALE: TWO COMMERCIAL BUILDINGS FOR SALE: TWO COMMERCIAL BUILDINGS ON OVER 1/2 ACRE LOT WITH 150 OF FRONTAGE ON ANDREWS AVENUE 10 NW 40TH COURT 4047 N. ANDREWS AVE. ASKING PRICE: $549,000 4047 N. ANDREWS AVENUE (1,560 SF) 10 NW 40TH

More information

Single Tenant Investment Property $210,000 St Petersburg, FL

Single Tenant Investment Property $210,000 St Petersburg, FL Single Tenant Investment Property $210,000 Great Opportunity for a single tenant investment, with Edward Jones, one of the largest US financial service firms as the tenant. Turnkey opportunity. 5 Yr Edward

More information

GUANGZHOU PROPERTY MARKET 2015 REVIEW & 2016 OUTLOOK

GUANGZHOU PROPERTY MARKET 2015 REVIEW & 2016 OUTLOOK GUANGZHOU PROPERTY MARKET 215 REVIEW & 216 OUTLOOK Colliers International Guangzhou Property Market 215 Review and 216 Outlook 1 Contents GUANGZHOU Grade A Office Retail Residential 3 4 5 7 2 Guangzhou

More information

Sublease Overview. Office users are taking advantage of lower lease rates on higher quality product.

Sublease 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 information

Apartment, Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student

Apartment, Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student Apartment, Office Market Analysis April Chastain, RMLS Fellow & Certificate of Real Estate Development Student Portland Office Market Overall the office market has performed as anticipated this first quarter

More information

RIVER S EDGE BUSINESS PARK

RIVER S EDGE BUSINESS PARK RIVER S EDGE BUSINESS PARK 19017, 19039 & 19201 62nd Avenue S KENT, WASHINGTON FOR SALE THREE-BUILDING INDUSTRIAL FLEX PROPERTY IDEALLY LOCATED IN THE HEART OF KENT VALLEY 48,947 SQ. FT. River s Edge

More information

Vacant College Campus 1015 Jackson Keller Rd.

Vacant 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 information

155 Washington Avenue

155 Washington Avenue FOR LEASE $13.50 / SF 155 Washington Avenue Albany, New York PROPERTY FEATURES Five-story office building with 65 space surface parking lot and access to two additional lots with approximately 15 spaces

More information

6. A home valued at $168,500 has just had a 70 percent mortgage loan placed on it. The interest rate is percent. The monthly payment is $1,292.2

6. A home valued at $168,500 has just had a 70 percent mortgage loan placed on it. The interest rate is percent. The monthly payment is $1,292.2 Name: Date: 1. Ten years ago, a family purchased a building lot for $26,500. They made no improvements during the time they owned the property. Recently, they sold it for $62,275. What was their percentage

More information

San Diego Retail MarketView

San Diego Retail MarketView San Diego Retail MarketView Global Research and Consulting VACANCY RATE 6. NET ABSORPTION 4, Sq. Ft. CONSTRUCTION 441, Sq. Ft. LEASE RATE $1.78 NNN UNEMPLOYMENT 5. *Arrows indicate change from previous

More information

Milwaukee, 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 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 information

Life Sciences Outlook. Greater Toronto Area Fall 2015

Life Sciences Outlook. Greater Toronto Area Fall 2015 Life Sciences Outlook Greater Toronto Area Fall 2015 Greater Toronto Toronto is one of North America's largest life sciences sectors and is ranked as one of the top 10 biomedical sectors in the world.

More information

Dayton, Ohio 1st Quarter 2015 OFFICE. Market Trends COMMERCIAL REAL ESTATE INFORMATION

Dayton, 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 information

Investment Outlook. Creative build-out brings additional returns to aging industrial assets and potentially for new product. Los Angeles Fall 2015

Investment Outlook. Creative build-out brings additional returns to aging industrial assets and potentially for new product. Los Angeles Fall 2015 Investment Outlook Creative build-out brings additional returns to aging industrial assets and potentially for new product Los Angeles Fall 2015 2 Industrial Creative July 2015 By utilizing the intrinsic

More information

BUSINESS BRIEFING SELF STORAGE

BUSINESS 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 information

Houston s office market impacted by energy industry layoffs

Houston s office market impacted by energy industry layoffs Research & Forecast Report HOUSTON OFFICE Q3 2015 Houston s office market impacted by energy industry layoffs Lisa Bridges Director of Market Research Houston Known as the Energy Capital of the World,

More information

National Presence. Local Focus

National Presence. Local Focus METROPOLITAN DC MARKET OVERVIEW Q 15 OVERALL MARKET SUMMARY The Washington, DC Metropolitan commercial real estate market is comprised of approximately 11. million square feet of rentable office space

More information

Colliers International Announces Recent Transactions

Colliers International Announces Recent Transactions FOR IMMEDIATE RELEASE Colliers International Kansas City 4520 Main Street, Suite 1000 Kansas City, MO 64111 MAIN +1 816 531 5303 FAX +1 816 531 5409 www.colliers.com Contacts: Ted A. Murray +1 816 556

More information

NORTHERN VIRGINIA OFFICE MARKET

NORTHERN VIRGINIA OFFICE MARKET REAL ESTATE OUTLOOK NORTHERN VIRGINIA OFFICE MARKET Office market steady during Q2 Demand stabilized while rents crawl up Office market conditions were mild in the Northern Virginia office market during

More information

Atlanta Sees Best Office Market Results Since 2000

Atlanta Sees Best Office Market Results Since 2000 Research & Forecast Report Year-End 2015 Office Atlanta Sees Best Office Market Results Since 2000 Key Takeaways > Atlanta s office absorption totaled 4.8 million square feet in 2015; the highest annual

More information

TH AVENUE WEST, LYNNWOOD, WASHINGTON

TH AVENUE WEST, LYNNWOOD, WASHINGTON BROKER OPINION OF VALUE 6 th Street Townhomes 16503 6TH AVENUE WEST, LYNNWOOD, WASHINGTON DAVE SCHUMACHER Senior Vice President direct: 206 382 8555 mobile: 425 985 8528 Dave.Schumacher@Colliers.com DAVID

More information