NORTHERN VIRGINIA OFFICE MARKET
|
|
- Gwenda Lewis
- 7 years ago
- Views:
Transcription
1 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 the second quarter of 2016, as the direct vacancy rate ticked down 10 basis points to 16.2% and net absorption was positive 30,000 SF. Asking rents ticked up during the second quarter by 20 basis points to $30.50 PSF. The pipeline expanded to 3.8 million SF and is well pre-leased at 83%. ECONOMY Unemployment down 80 basis points over the year to 2.8% Payroll employment increased by 27,100 jobs during the 12 months ending May 2016 in Northern Virginia, which is above the 20-year annual average of 24,100. The professional/business services sector grew 9,300 of these jobs during the past 12 months, with the professional, scientific, and technical services subsector accounting for 80% of these jobs. The trade, transportation, and utilities sector followed with 6,900 new jobs, with retail trade accounting for 75% of these jobs. The Northern Virginia unemployment rate is the lowest in the Washington metro area at 2.8% at April 2016, down from 3.6% one year ago. The unemployment rate is below the 10-year average of 4.1%. This compares to the Washington metro area unemployment rate of 3.5% and the national rate of 5% at April We expect conditions to remain healthy during the remainder of 2016 and 2017, as consumer and business confidence strengthens to fuel the Northern Virginia economy. Through 2020, we expect job growth to average 18,900 jobs, accounting for 42% of the metro total. We expect the health, technology, construction, and food services industries to fuel job growth in the period ahead. OFFICE TRENDS 10-YEAR TREND OVERALL RENTAL RATES UNDER CONSTRUCTION JOB GROWTH 16.2% Vacancy rate ticks down (587,000) SF Demand weak YTD $30.50 PSF Up 20 basis points since Q1 3.8 Million SF Construction pipeline controlled 27,100 Jobs During 12-months ending May 2016 OFFICE AND DEMAND Solid demand offset by tenant move-outs Northern Virginia s direct vacancy rate was 16.2% at June 2016, down 10 basis points from three months prior, yet 20 basis points higher than year-end The current vacancy rate is well above the 10-year average of 13.5%.
2 NORTHERN VIRGINIA OFFICE MARKET UNEMPLOYMENT RATE 12% 10% 8% 6% 4% 2% 0% PAYROLL JOB GROWTH 5% 4% 3% 2% 1% 0% -1% -2% -3% -4% -5% UNITED STATES WASHINGTON METRO AREA NORTHERN VIRGINIA * NORTHERN VIRGINIA OFFICE NET AND *At April 2016 SOURCE: Bureau of Labor Statistics, Transwestern UNITED STATES WASHINGTON METRO AREA NORTHERN VIRGINIA * *12 months ending May 2016 SOURCE: Bureau of Labor Statistics, Transwestern NET IN MILLIONS DIRECT RATE 18% 16% 14% 12% 10% 8% 6% The Class A direct vacancy rate increased to 14.6% at June 2016, from 13.8% at March The Class B/C direct vacancy rate decreased to 17.1% at June 2016, down 50 basis points from three months prior. Northern Virginia achieved 27 leases of 20,000 SF or greater and nine leases of 50,000 SF or greater during the second quarter of This compares to 24 leases of 20,000 SF or greater and six leases of 50,000 SF or greater during the second quarter of Net absorption totaled positive 30,000 SF during the second quarter of 2016, as demand was not enough to offset tenants vacating space. Class A space accounted for negative 33,000 SF during the past three months, compared to positive 58,000 SF for Class B/C space. During the first half of 2016, net absorption totaled negative 587,000 SF, which compares to the 10-year annual average of positive 996,000 SF. The Tysons Corner submarket was the leader in net absorption during the past three months due in part to the pre-leased delivery of 1775 Tysons Boulevard, which delivered 45% leased to Ernst & Young and Computer Sciences Corporation. In addition, Holland & Knight took 40,100 SF at 1650 Tysons Boulevard. Also notable, Grant Thornton will consolidate its regional operations in the RCB Corridor. The advisory firm leased 76,000 SF at 1000 Wilson Boulevard and will relocate from 79,000 SF at 333 John Carlyle Street in Old Town Alexandria and 28,000 SF at 2010 Corporate Ridge in Tysons. The gain for the Northern Virginia office market was offset by notable moveouts. Most notably, CAN Corporation of America vacated 160,700 SF at 4825 Mark Center Drive in Alexandria and the U.S. Environmental Protection Agency vacated 149,000 SF at 2733 Crystal Drive in Crystal City. In addition, Fairfax County Public Schools vacated 96,000 SF at 3877 Fairfax Ridge Road in Fairfax Center, and Gannett vacated 89,000 SF at 7950 Jones Branch in Tysons Corner * 4% *At second quarter 2016 The professional and business services industry represented the largest share of leasing activity at 58% of all new or relet deals during the first half of 2016, of which 21% of these deals were for tech tenants. This was due to several midsized deals such as L-3 Communications leasing 22,800 SF at Penrose Place in Chantilly and Vencore taking 20,700 SF at 4100 N. Fairfax Drive in Arlington. Most of the leasing activity was concentrated in Arlington as the RCB and Crystal/Pentagon City submarkets represented 20% and 26% of total leasing, respectively. OFFICE RENTAL RATES Asking rents edge up during Q2 The Northern Virginia average asking rental rate was $30.50 PSF at June 2016, up 0.2% from three months prior, but flat compared to year-end Class A office rents averaged $33.37 PSF, while Class B/C rents averaged $27.84 PSF. 2 REAL ESTATE OUTLOOK NORTHERN VIRGINIA OFFICE MARKET Q2 2016
3 Concession packages remained elevated during the first half, as landlords compete for tenants. For a typical 10- year term for a new lease, tenant improvement allowances averaged around $75 PSF with 14.2 months of free rent for deals inked since the start of Concessions are above 2015 levels, which averaged $68 in tenant improvement allowances and 11.9 months in free rent. OFFICE SUPPLY AND DEVELOPMENT Tysons Corner dominates construction pipeline There were three office deliveries, totaling 559,000 SF at 52% pre-leased, during the second quarter of The Oaklawn building at 600 Hope Parkway, SE in Leesburg delivered in May at 100% leased to K2M Group Holdings. David Cantrall & Associates delivered Courthouse Common at E. Market Street in Leesburg in June at 62% leased. Lerner Enterprises delivered 1775 Tysons Boulevard in Tysons Corner in May at 45% leased to Ernst & Young and Computer Sciences Corporation. There is 3.8 million SF of office space under construction or renovation in Northern Virginia at June The pipeline is currently 83% pre-leased, well above the 10-year average pre-lease rate of 42%. Tysons Corner has the greatest amount of space under construction at June 2016, totaling 1.3 million SF at 100% pre-leased to Capital One. This is highlighted by 975,000 SF at Capital One Drive, which will deliver in 2018 and be Capital One s new headquarters. Also notable is MITRE s build-to-suit property of 340,000 SF at 7598 Colshire Drive. This project is due to deliver by fall Another win for Tysons Corner was the recently announced 70,000 SF pre-lease by TEGNA at 8350 Broad Street within the Boro development. NORTHERN VIRGINIA CONTIGUOUS BLOCK ANALYSIS NORTHERN VIRGINIA OFFICE ASKING RENTAL RATES $40 $35 $30 $25 $20 $15 NUMBER OF BUILDINGS - Q NUMBER OF BUILDINGS - Q CLASS A ,000 SF 20,000 SF 50,000 SF 100,000 SF CLASS B/C * *At second quarter 2016 NORTHERN VIRGINIA OFFICE DEVELOPMENT PIPELINE MILLION SF 7.0 COMPLETED UNDER CONSTRUCTION PRE-LEASED UNDER CONSTRUCTION AVAILABLE OFFICE INVESTMENT MARKET Investment activity steady The investment sales volume totaled $161 million, or $361 PSF, in Northern Virginia during the second quarter of 2016 due to three investment sales. Notably, The Meridian Group purchased 1735 N. Lynn Street for $106 million, or $368 PSF, and TIAA sold, the office portion of, 2801 Clarendon Boulevard for $40.6 million, or $407 PSF. Both assets are located in the RCB Corridor. During the first half of 2016, investment sales totaled $928 million, or $188 PSF, compared to $2.7 billion, or $227 PSF, during all of * *Completed YTD REAL ESTATE OUTLOOK NORTHERN VIRGINIA OFFICE MARKET Q
4 NORTHERN VIRGINIA OFFICE MARKET Investors focused slightly more capital on Class B/C assets, as this class represented 52% of the total sales volume during the past six months. In addition, 28% of the capital invested was focused on assets located in walkable to very walkable neighborhoods with access to transportation, retail, and other amenities, while 58% of the total sales volume was allocated to car-dependent locations. OFFICE MARKET OUTLOOK Office market to be sluggish in the near-term We expect the Northern Virginia office market to gradually recover over the next several years. However, in the shortrun market conditions will be challenged by tenants densifying and consolidating operations. Demand will be driven by the tech sector and interest surrounding the recently opened Silver Line. However, we project that demand will not be enough to offset tenants vacating space as they densify and consolidate. Select tenants will continue to take advantage of depressed rates and elevated concession packages. However, progress will be sluggish compared to past recovery cycles. We project the overall Northern Virginia vacancy rate (inclusive of sublease space) to remain relatively flat over the next two years, hovering around the high-16% range. We expect asking rents will remain stable during the second half of 2016 and possibly edge up 0.5% to 1.5% during Although developers have kept construction levels in check, we expect construction will continue to grow surrounding the Silver Line, and owners will look to renovate older assets to Class A product. Therefore, investment sales should continue to focus on older assets with superior locations. Interest in older value-add assets are gaining traction, which suggests the lowered post-recession pricing on suburban assets will start to rise. Overall, the Northern Virginia office market will remain challenged in the short run and take time to recover. Select submarkets with a relatively low vacancy rate, controlled pipeline and no significant move-outs on the horizon are poised to recover first. 4 REAL ESTATE OUTLOOK NORTHERN VIRGINIA OFFICE MARKET Q2 2016
5 Northern Virginia Office Market Indicators PROPERTY CLASS INVENTORY UNDER CONSTRUCTION Q2 NET YTD NET DIRECT SUBLEASE SPACE OVERALL AVERAGE RATE PSF Class A 67,146,519 3,506,348 (33,000) (483,000) 14.6% 1.2% 15.8% $33.37 Class B/C 124,771,182 88,500 58,000 (105,000) 17.1% 0.6% 17.7% $27.84 Total 191,917,701 3,594,848 30,000 (587,000) 16.2% 0.8% 17.0% $30.50 Northern Virginia Office Market Notable Lease Transactions TENANT DEAL TYPE ADDRESS SUBMARKET SQUARE FEET Transportation Security Administration Renewal 601 S 12th Street Crystal/Pentagon City 300,700 Transportation Security Administration Renewal 701 S 12th Street Crystal/Pentagon City 251,000 Grant Thornton New Lease 1000 Wilson Boulevard RCB Corridor 76,000 TEGNA Pre-Lease 8350 Broad Street Tysons Corner 70,000 ScienceLogic New Lease Parkridge Boulevard Reston 62,400 The Argosy University Renewal 1550 Wilson Boulevard RCB Corridor 40,100 Holland & Knight New Lease 1650 Tysons Boulevard Tysons Corner 38,300 SOURCE: CoStar, County Newsletters, Washington Business Journal, Washington Post, Transwestern Northern Virginia Office Market Construction Activity SUBMARKET SQUARE FEET UNDER CONSTRUCTION/RENOVATION PERCENT PRE-LEASED RCB Corridor 719,548 65% Eisenhower Ave Corridor 700,000 97% Tysons Corner 1,315, % Rt. 28 South/Chantilly 160, % Loudoun County 261,800 94% Total 3,829,848 83% REAL ESTATE OUTLOOK NORTHERN VIRGINIA OFFICE MARKET Q
6 NORTHERN VIRGINIA OFFICE MARKET Northern Virginia Office Market Indicators SUBMARKET INVENTORY UNDER CONSTRUCTION Q2 NET YTD NET DIRECT SUBLEASE SPACE TOTAL AVERAGE RATE PSF RCB Corridor 23,984, ,548 96, % 0.8% 21.5% $40.82 Crystal/Pentagon City 14,098,585 0 (215,000) (129,000) 16.2% 0.5% 16.7% $36.55 Old Town 8,389,063 0 (50,000) (109,000) 11.5% 0.8% 12.3% $32.49 Eisenhower Ave Corridor 9,202, ,000 (239,000) (221,000) 24.0% 0.2% 24.2% $32.29 Springfield/Huntington/I-95 8,030,384 0 (32,000) 8, % 0.4% 19.1% $28.82 Bailey's/Falls Church/Annandale 7,382,823 0 (7,000) (30,000) 26.4% 0.6% 27.0% $28.50 Merrifield 9,247,243 0 (9,000) 18, % 1.2% 12.6% $30.86 Reston 18,797, , , , % 1.6% 12.0% $27.92 Herndon 12,253, ,000 (392,000) 16.4% 1.9% 18.3% $27.17 Tysons Corner 28,995,138 1,315, , , % 0.7% 15.4% $32.30 McLean/Vienna 2,201, ,000 (14,000) (36,000) 7.6% 0.3% 7.9% $31.76 Oakton/Fairfax City 5,840, ,000 (29,000) 14.7% 0.4% 15.1% $23.09 Fairfax Center 7,248,110 0 (116,000) (384,000) 20.6% 0.8% 21.4% $26.48 Rt. 28 South/Chantilly 13,857, ,000 55, , % 0.5% 15.5% $25.07 Loudoun County 15,925, ,800 69,000 37, % 0.5% 17.0% $23.59 Prince William County 6,462,679 73,500 (13,000) (45,000) 11.6% 0.1% 11.7% $22.88 Total 191,917,701 3,829,848 30,000 (587,000) 16.2% 0.8% 17.0% $30.50 CONTACT Elizabeth Norton Managing Research Director Mid-Atlantic elizabeth.norton@transwestern.com Mallory Cason Research Associate Mid-Atlantic mallory.cason@transwestern.com METHODOLOGY The information in this report is the result of a compilation of information on office properties located in the Northern Virginia area. This report includes single-tenant, multi-tenant and owner-user office properties 15,000 SF and larger, excluding properties owned by a government agency Tysons One Place, Suite 600 McLean, Virginia T Copyright 2016 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein.
7 REAL ESTATE OUTLOOK NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Flex/industrial market steady during Q2 Net absorption driven by pre-leased deliveries The Northern Virginia flex/industrial market was steady during the second quarter of 2016, as the direct vacancy rate increased 20 basis points to 7.9% and net absorption was positive 119,000 SF, driven primarily by pre-leased deliveries in the Dulles Corridor. Landlords increased asking rents by 1.8% since year-end ECONOMY Unemployment down 80 basis points over the year to 2.8 Payroll employment increased by 27,100 jobs during the 12 months ending May 2016 in Northern Virginia, which is above the 20-year annual average of 24,100. The professional/business services sector grew 9,300 of these jobs during the past 12 months, with the professional, scientific, and technical services subsector accounting for 80% of these jobs. The trade, transportation, and utilities sector followed with 6,900 new jobs, of which retail trade accounted for 75% of these jobs. The Northern Virginia unemployment rate is the lowest in the Washington metro area at 2.8% at April 2016, down from 3.6% one year ago. The unemployment rate is below the 10-year average of 4.1%. This compares to the Washington metro area unemployment rate of 3.5% and the national rate of 5% at April We expect conditions to remain healthy during the remainder of 2016 and 2017, as consumer and business confidence strengthens to fuel the Northern Virginia economy. Through 2020, we expect job growth to average 18,900, accounting for 42% of the metro total. We expect the health, technology, construction, and food services industries to fuel job growth in the period ahead. FLEX/INDUSTRIAL AND DEMAND Vacancy edging up The Northern Virginia direct vacancy rate edged up to 7.9% during the second quarter, from 7.7% three months prior. Prior to first quarter 2016, the vacancy rate had been declining steadily since Despite this, the vacancy rate is well below the 10-year average of 9.3%. Bulk warehouse has the lowest direct FLEX/INDUSTRIAL TRENDS 10-YEAR TREND OVERALL RENTAL RATES 7.9% UNDER CONSTRUCTION JOB GROWTH Vacancy rate ticks up 385,000 SF Healthy demand YTD $9.22 PSF Asking rents up 1.8% YTD 150,000 SF Construction pipeline controlled 27,100 Jobs During 12-months ending May 2016
8 NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET NORTHERN VIRGINIA FLEX/INDUSTRIAL NET AND vacancy rate among the three product types at 6.8% at June NET IN MILLIONS DIRECT RATE * *At second quarter % 12% 11% 10% 9% 8% 7% 6% 5% 4% Northern Virginia achieved 11 leases of 20,000 SF or greater and three leases of 50,000 SF or greater during the second quarter. This compares to 10 leases of 20,000 SF or greater and two leases of 50,000 SF or greater during the second quarter of Net absorption totaled positive 119,000 SF during the second quarter of Of the three property types, bulk warehouse contributed the strongest net absorption with positive 95,000 SF during the past three months. During the first half of 2016, net absorption totaled 385,000 SF, below the 10-year average of 930,000 SF. NORTHERN VIRGINIA FLEX/INDUSTRIAL ASKING RENTAL RATES $15 $14 $13 $12 $11 $10 $9 $8 $7 $6 BULK WAREHOUSE FLEX/WAREHOUSE FLEX/R&D * NORTHERN VIRGINIA FLEX/INDUSTRIAL DEVELOPMENT PIPELINE MILLION SF *At second quarter 2016 COMPLETED UNDER CONSTRUCTION PRE-LEASED UNDER CONSTRUCTION AVAILABLE The Dulles Corridor was the leader in net absorption during the past three months, totaling positive 188,000 SF. Net absorption was boosted by pre-leased deliveries, as 323,150 SF came online at 70% leased. FLEX/INDUSTRIAL RENTAL RATES Asking rents up 1.8% during first half Flex/industrial asking rents edged up to $9.22 PSF at June 2016, up 1.8% since year-end Bulk warehouse and flex/warehouse rents increased by 4.4% and 1.7%, respectively during the past three months. Flex/R&D rents decreased 2.5% during this period. FLEX/INDUSTRIAL SUPPLY AND DEVELOPMENT Pipeline concentrated in Dulles Corridor There were five deliveries in the Northern Virginia flex/ industrial market during the second quarter of Notably, Quicksilver Drive, a 59,450 SF flex/ warehouse building, and 5615 Wellington Road, a 39,000 flex/warehouse building, delivered vacant during the second quarter. Duke Realty Corporation delivered TransDulles Plaza, Transdulles Plaza, at 100% leased in June. Every project delivered in the Dulles Corridor * *Completed YTD Projects under construction or renovation total 150,000 SF at 0% pre-leased at June The Dulles Corridor accounts for the entire pipeline. Commercial Group Realty has two flex/warehouse buildings at and Trade Center Court totaling 32,000 SF each in Sterling. 2 REAL ESTATE OUTLOOK NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Q2 2016
9 By summer of 2017, StonebridgeCarras is set to break ground on a new mixed-use project near Potomac Yard in Alexandria. This process will demolish several flex/industrial projects. The developer and landowner, The Blackstone Group, plans to construct a 1.5 million SF mixed-use development located on 13 acres with delivery scheduled for summer of FLEX/INDUSTRIAL INVESTMENT MARKET Investment volume slow during the second quarter Northern Virginia investment activity was sluggish in the second quarter with only one notable sale. Cambridge Hanover purchased Sullyfield Circle for $6.1 million, or $69 PSF. The property was 21% leased at the time of sale. During the first half of 2016, the investment sale volume totaled $76 million, or $120 PSF, which compared to $473 million, or $114 PSF, during all of During the first half, investors focused 84% of capital on flex/warehouse assets, compared to 16% on bulk warehouse and none on flex/r&d. In addition, nearly 36% of investor capitol has been focused on Prince William County assets, followed closely by 30% in the Dulles Corridor. FLEX/INDUSTRIAL MARKET OUTLOOK Market conditions to remain steady We expect continued growth for the Northern Virginia flex/industrial market during the second half of We project the overall vacancy rate (inclusive of sublease space) will decline in Northern Virginia from 8% today to the mid-7% range by December We anticipate demand will outpace new supply during this period. Demand will be driven in part for retail distribution and housing construction supply. As demand rises, we expect asking rents to rise 2% to 3% during 2016 as the vacancy rate is low enough to justify rent increases. The pipeline is limited, which will control the vacancy rate from oversupply when the product delivers during the remainder of We expect the pipeline to expand as tenants are in the market for upgraded space with a focus on efficient building design and site layout, which includes better trailer loading, clear heights, column spacing, and parking. We expect the investment market to pick up pace over the next several quarters, as investors take advantage of healthy market conditions and rising demand. REAL ESTATE OUTLOOK NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Q
10 NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Northern Virginia Flex/Industrial Market Indicators PROPERTY TYPE INVENTORY UNDER CONSTRUCTION Q2 NET YTD NET DIRECT SUBLEASE SPACE OVERALL AVERAGE RATE PSF Bulk Warehouse 21,566,346 85,507 95, , % 0.0% 6.8% $7.66 Flex/Warehouse 59,628,895 64,409 47,000 59, % 0.2% 8.1% $9.45 Flex/R&D 4,684,206 0 (24,000) (42,000) 12.7% 0.5% 13.2% $13.35 Total 85,879, , , , % 0.1% 8.0% $9.22 Northern Virginia Flex/Industrial Market Notable Lease Transactions TENANT DEAL TYPE ADDRESS SUBMARKET SQUARE FEET NAVFAC New Lease Interstate Drive Prince William County 62,700 Total Filtration New Lease Transdulles Plaza Dulles Corridor 21,000 Office Furniture Brokers New Lease Shaw Road Dulles Corridor 17,000 NES Associates New Lease 6304 Gravel Avenue I-95 Corridor 11,200 Sportrock New Lease Eisenhower Avenue I-95 Corridor 8,000 Crooked Run Brewing New Lease Davis Drive Dulles Corridor 7,100 Skyline Auto Body and Paint Renewal 4215 Walney Road Dulles Corridor 6,800 SOURCE: CoStar, County Newsletters, Washington Business Journal, Washington Post, Transwestern Northern Virginia Flex/Industrial Market Construction Activity SUBMARKET SQUARE FEET UNDER CONSTRUCTION/RENOVATION PERCENT PRE-LEASED Dulles Corridor 149,916 0% Total 149,916 0% 4 REAL ESTATE OUTLOOK NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Q2 2016
11 NORTHERN VIRGINIA FLEX/INDUSTRIAL MARKET Northern Virginia Flex/Industrial Market Indicators SUBMARKET INVENTORY UNDER CONSTRUCTION Q2 NET YTD NET DIRECT SUBLEASE SPACE TOTAL AVERAGE RATE PSF Bulk Warehouse 304, ,000 5, % 0.0% 0.0% N/A Flex/Warehouse 3,180, ,000 3, % 0.2% 3.9% $13.54 Flex/R&D 366,459 0 (7,000) (20,000) 15.5% 0.0% 15.5% $13.36 Beltway (I-495) 3,851, (12,000) 4.5% 0.2% 4.7% $13.52 Bulk Warehouse 5,384,800 0 (75,000) 27, % 0.0% 10.2% $8.05 Flex/Warehouse 19,240, ,000 (6,000) 7.6% 0.3% 7.9% $9.16 Flex/R&D 1,210, ,000 30, % 0.0% 12.9% $14.38 I-95 Corridor 25,836,144 0 (52,000) 52, % 0.2% 8.6% $9.17 Bulk Warehouse 70, % 0.0% 0.0% N/A Flex/Warehouse 1,575, , % 0.3% 9.1% $13.52 Flex/R&D 592,480 0 (13,000) (11,000) 18.6% 0.0% 18.6% $13.26 Reston/Herndon 2,238, ,000 (11,000) 11.1% 0.2% 11.3% $13.45 Bulk Warehouse 10,969,948 85, , , % 0.0% 7.0% $7.73 Flex/Warehouse 22,073,404 64,409 57,000 92, % 0.1% 10.5% $10.25 Flex/R&D 2,181,789 0 (11,000) (41,000) 11.1% 1.0% 12.1% $13.26 Dulles Corridor 35,225, , , , % 0.1% 9.5% $9.65 Bulk Warehouse 4,835, ,000 48, % 0.0% 3.0% $7.07 Flex/Warehouse 13,559,069 0 (42,000) (30,000) 5.2% 0.1% 5.3% $7.13 Flex/R&D 333,066 0 (1,000) 0 8.9% 0.0% 8.9% $10.31 Prince William County 18,727,839 0 (19,000) 19, % 0.1% 4.8% $7.17 Bulk Warehouse 21,566,346 85,507 95, , % 0.0% 6.8% $7.66 Flex/Warehouse 59,628,895 64,409 47,000 59, % 0.2% 8.1% $9.45 Flex/R&D 4,684,206 0 (24,000) (42,000) 12.7% 0.5% 13.2% $13.35 Northern Virginia Total 85,879, , , , % 0.1% 8.0% $9.22 CONTACT Elizabeth Norton Managing Research Director Mid-Atlantic elizabeth.norton@transwestern.com Mallory Cason Research Associate Mid-Atlantic mallory.cason@transwestern.com METHODOLOGY The information in this report is the result of a compilation of information on office properties located in the Northern Virginia area. This report includes single-tenant, multi-tenant and owner-user office properties 15,000 SF and larger, excluding properties owned by a government agency Tysons One Place, Suite 600 McLean, Virginia T Copyright 2016 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein.
Year End. Industrial Report. Northern Virginia
Year End Industrial Report Northern Virginia Market Overview Industrial / Flex Market Overview Northern Viginia s flex and industrial market consists of three major markets: the Dulles Corridor, I-95 Corridor,
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 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 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 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 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 informationDEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK
Research Report DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Second Quarter 2013 Economic Outlook Business and consumer spending to drive recovery Quantitative easing beginning its expected unwinding
More informationFairfax County Commercial Real Estate. Curtis Hoffman Director, Commercial Real Estate Services
Fairfax County Commercial Real Estate Curtis Hoffman Director, Commercial Real Estate Services Fairfax County Profile Number of jobs: 590,407 Unemployment rate: 3.7% Second largest suburban office market
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 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 informationSales 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 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 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 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 informationMarket Commentary Canberra Office
Market Commentary Canberra Office November 2015 Executive Summary A further strengthening in the Canberra office market has been recorded over 3Q15 with a total of 9,300 sqm of positive net absorption.
More informationConditions of the Chicago Real Estate Market
Conditions of the Chicago Real Estate Market Downtown Office Market 2015 March 12, 2015 presented by: David J. Gelfand Executive Vice President Colliers International david.gelfand@colliers.com Square
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 informationVOIT 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 informationNew 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 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 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 informationMarket Report. Northern Virginia 1st Quarter 2016. cushmanwakefield.com
Market Report Northern Virginia 1st Quarter 2016 cushmanwakefield.com Contents DC Metropolitan Area Overview...3 Northern Virginia & Map...4-6 Alexandria...7 RB Corridor...8 Crystal City/Pentagon City...9
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 informationNew 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 informationMultifamily 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 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 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 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 $34.56 P
More informationRegional Markets for Office and Industrial Space
Regional Markets for Office and Industrial Space FEELING PAIN: REGIONAL MARKETS FOR OFFICE AND INDUSTRIAL SPACE I ve never seen anything like this in 36 years. Sharon Ryals-Taylor, Thalhimer Commercial
More informationSublease Space Thwarts a Good Quarter
Research & Forecast Report RENO INDUSTRIAL Q3 Sublease Space Thwarts a Good Quarter > > Overall vacancy rate rose to 10.95% (without sublease space 8.16%) > > New construction completions totaled 626,000
More informationMidtown South Manhattan Office MarketView
Midtown South Manhattan Office MarketView CBRE Global Research and Consulting LEASING ACTIVITY 1.1 MSF NYC UNEMPLOYMENT RATE (DEC. 1) 7.5% NYC OFFICE EMPLOYMENT (DEC. 1) 1,6, U.S. GDP CHANGE (Q 1) 4.1%
More informationMarket Report MANHATTAN OFFICE 1Q 2015. Leasing Activity MSF. Absorption SF. Availability Rate 10.7% 0.7pp -0.7pp N/A. Average Asking Rent ($/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 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 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 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 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 informationD A T A C E N T E R S R E A L E S T A T E A C Q U I S I T I O N S R E P O R T
S E C O N D Q U A R T E R 2 0 1 3 F I V E 9 S D I G I T A L Following well over $2B worth of data center real estate acquisitions in our EOY 2012 REPORT and $350M reported for the 1st quarter of 2013,
More information>> New Construction Delivers to the Orange County Office Market
Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> New Construction Delivers to the Orange County Office Market Key Takeaways > Three new office developments were delivered to the
More informationCurrent Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis
Current Issues Note 27 By Yeukai Muchenje and Nick Ennis copyright Greater London Authority November 2010 Published by Greater London Authority City Hall The Queen s Walk London SE1 2AA www.london.gov.uk
More informationSuburban Boston Office MarketView
Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 7.3% MA UNEMPLOYMENT 7.2% OCCUPIED SF 93.3M AVAILABILITY 20.5% SUBLEASE SF 2.9M UNDER CONSTRUCTION 1.1M *Arrows indicate
More informationMarket Report MANHATTAN OFFICE 2Q 2015. Leasing Activity MSF. Absorption SF. Availability Rate 10.1% -0.6pp -0.9pp N/A. Average Asking Rent ($/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 information2015-2017 UNITED STATES OFFICE OVERVIEW & FORECAST. A Cushman & Wakefield Research Publication
2015-2017 UNITED STATES OFFICE OVERVIEW & FORECAST A Cushman & Wakefield Research Publication OFFICE OVERVIEW & FORECAST 2015-2017 CONTENTS ECONOMIC OVERVIEW & FORECAST 4 OFFICE MARKET OVERVIEW & FORECAST
More informationOutlook for Australian Property Markets 2010-2012. Perth
Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012
More informationHow To Get Through The Month Of August
London Market Snapshot October 2015 10/15 Global Macro Overview Global equities experienced their sharpest falls since 2011, with most major markets moving into correction territory (a fall of more than
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 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 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 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 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 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 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 informationRebound after a slow start
DTZ Research PROPERTY TIMES Rebound after a slow start Europe Office Q2 2015 28 August 2015 Contents Take-up 2 New office supply 3 Vacancy ratio 4 Prime office rents 5 Outlook 6 Definitions 7 3 million
More informationLife Sciences Outlook. Philadelphia 2015
Life Sciences Outlook Philadelphia 2015 Philadelphia Booming eds & meds, big pharma, more startups: Philadelphia s market fundamentals are strong, thanks to a diverse ecosystem of established pharma firms
More informationHUD PD&R Housing Market Profiles
Sacramento--Arden-Arcade--Roseville, California Quick Facts About Sacramento-Arden-Arcade--Roseville By Elaine Ng Current sales market conditions: slightly soft but improving. Current apartment market
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 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 informationHUD PD&R Housing Market Profiles
Dayton, Ohio Quick Facts About Dayton By Felipe Chacon Current sales market conditions: soft. Current rental market conditions: soft. Current apartment market conditions: slightly soft. Tech Town, a 40-acre
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 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 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 informationMargaret Donkerbrook Vice President, U.S. Research Dave Millard Principal
Northern Virginia Market Forecast Margaret Donkerbrook Vice President, U.S. Research Dave Millard Principal 2014 Highlights 2014 Highlights Opening of Silver Line High End (Macerich/Lerner) Spec Development
More informationState of Atlanta Office Market September 24, 2015
State of Atlanta Office Market September 24, 2015 I. Economic Drivers for Office Market Atlanta Why? Metro Atlanta has the lowest relative cost of doing business among the nation s 10 largest metro areas
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 informationC O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S. Dallas, Texas. Summary. Economy. Sales Market
C O M P R E H E N S I V E H O U S I N G M A R K E T A N A L Y S I S Dallas, Texas U.S. Department of Housing and Urban Development Office of Policy Development and Research As of April 1, 26 Summary Housing
More informationToronto Office MarketView Q3 2014
Toronto Office MarketView Q3 2014 CBRE Global Research and Consulting VACANCY RATE 9.2% NET ASKING RENTAL RATE $17.59 per sq. ft. NET ABSORPTION 712,563 sq. ft. The arrows are Q-o-Q trend indicators and
More informationMBA Forecast Commentary Joel Kan, jkan@mba.org
MBA Forecast Commentary Joel Kan, jkan@mba.org Weak First Quarter, But Growth Expected to Recover MBA Economic and Mortgage Finance Commentary: May 2015 Broad economic growth in the US got off to a slow
More informationAdelaide CBD Office Market
SPRING 2015 MARKET TRENDS Leasing demand strengthened in the year to July 2015, led by take up from the Government and regulatory authorities and Utilities, Mining and resources sectors. Supply additions
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 information3901 Calverton Boulevard Beltsville, Maryland
3901 Calverton Boulevard Beltsville, Maryland GHP Office Realty One West Red Oak Lane White Plains, New York 10604 Phone: 914.642.9300 Fax: 914.642.9301 ghpoffice.com 3901 CALVERTON BOULEVARD, BELTSVILLE,
More informationBuying Your First Home
About Northwest Federal Credit Union Not For Profit Federally Insured In existence for over 68 years Local Lender based in Herndon, VA Additional branches located in Leesburg, Chantilly, Vienna, Manassas,
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 informationD A T A C E N T E R S R E A L E S T A T E A C Q U I S I T I O N S R E P O R T YEAR IN REVIEW 2 0 1 4 F I V E 9 S D I G I T A L
DATA CENTERS REAL ESTATE ACQUISITIONS REPORT YEAR IN REVIEW 2014 FIVE 9S DIGITAL 2014 Year In Review Data center real estate acquisition activity for the full year 2014 yielded at total of $1.148 Billion
More informationAbilene, Texas. Summary. Housing Market Area. Market Details. Economy. Rental Market. Sales Market
COMPREHENSIVE HOUSING MARKET ANALYSIS Abilene, Texas U.S. Department of Housing and Urban Development Office of Policy Development and Research As of July 1, 28 Summary Housing Market Area Stonewall Runnels
More informationSan 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 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 informationMetropolitan Washington Economic Outlook: Tears in Our Beer or Dancing in the Streets?
Metropolitan Washington Economic Outlook: Tears in Our Beer or Dancing in the Streets? Center for Regional Analysis School of Public Policy George Mason University March 18, 215 (s) 1 8 6 4 2-2 -4-6 -8
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 informationNational Capital Region Transportation Planning Board Washington, DC
Final Project Report College Park Metro Station TOD Market Analysis Prepared for The City of College Park College Park, Maryland National Capital Region Transportation Planning Board Washington, DC Submitted
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 informationLife 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 informationCANADA AND U.S. AUTO SALES: ROOM FOR FUR- THER GROWTH? October 2014. Factors supporting the U.S. sales outlook: Employment Growth
93619 CANADA AND U.S. AUTO SALES: ROOM FOR FUR- THER GROWTH? October 2014 Canadian and U.S. auto sales have strengthened significantly from recession lows. Canadian new motor vehicle sales have surprised
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 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 informationCHICAGO INDUSTRIAL MARKET
REAL ESTATE OUTLOOK CHICAGO INDUSTRIAL MARKET Industrial Sector Growing A good year for industrial owners as activity continues to tick up Industrial property landlords are benefiting this year in Chicago
More informationQ3 2014. Cairo Real Estate Market Overview
Cairo Real Estate Market Overview Cairo Market Summary The third quarter of 2014 saw further political stability as the regime proceeded with implementing its roadmap. Following the reduction of energy
More informationPALM BEACH OFFICE REPORT YEAR-END 2013
PALM BEACH OFFICE REPORT YEAR-END 2013 www.commfla.com Commercial Florida Realty Services is pleased to present its year-end 2013 Office Market Reports for the Broward and Palm Beach County, Florida markets.
More informationPREDICTING LONG-TERM TRENDS & MARKET CYCLES IN COMMERCIAL REAL ESTATE
PREDICTING LONG-TERM TRENDS & MARKET CYCLES IN COMMERCIAL REAL ESTATE by Glenn R. Mueller Working Paper #388 10/24/01 Land, together with labor and capital, is one of the three major factors of production.
More informationJuly 2014. UK Commercial & Residential Property Markets Review: July 2014 1
July 2014 UK Commercial & Residential Property Markets Review: July 2014 1 UK Commercial & Residential Property Markets Review: July 2014 2 UK COMMERCIAL & RESIDENTIAL PROPERTY MARKETS REVIEW: JULY 2014
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 informationINVESTMENT OFFERINGS CUSHMAN & WAKEFIELD SUMMIT CAPITAL MARKETS GROUP Q4 PRODUCT REPORT
CUSHMAN & WAKEFIELD SUMMIT CAPITAL MARKETS GROUP INVESTMENT OFFERINGS Q4 PRODUCT REPORT 241 N. Pennsylvania St Suite 300 46204 317.713.2100 SummitRealtyGroup.com ALEX CANTU 317.713.2114 acantu@summitrealtygroup.com
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 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 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 informationSan Antonio Apartment Market Update
San Antonio Apartment Market Update Edited by Kathryn Koepke $399/year 2 nd Quarter 2006 No signs of construction slowing San Antonio has been a hot market for multifamily developers over the past couple
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 informationOFFICE MARKET IMPROVEMENTS REMAIN SLOW, BUT MOVING IN THE RIGHT DIRECTION
OFFICE MARKET REPORT: 1Q OFFICE MARKET IMPROVEMENTS REMAIN SLOW, BUT MOVING IN THE RIGHT DIRECTION Prepared by: Galen M. Raza-Self Real Estate Market Research PNC Real Estate 249 Fifth Avenue Pittsburgh,
More informationFor Sale - $11,000,000 - Negotiable Excellent User Opportunity -
4770 White Plains Road Bronx, New York For Sale - $11,000,000 - Negotiable Excellent User Opportunity - Jerry Houlihan GHP Office Realty One West Red Oak Lane White Plains, New York 10604 Phone: 914.642.9300
More informationQ3 2014. Dubai Real Estate Market Overview
Q3 2014 Dubai Real Estate Market Overview Dubai Market Summary The Dubai real estate market saw a welcome levelling-off during the summer months. The broad based recovery witnessed in the residential sector
More informationRESEARCH BRIEF. OIR Office of Institutional Research, Planning, and Assessment
RESEARCH BRIEF OIR No. 68-10 Office of Institutional Research, Planning, and Assessment September 2010 Employment Projections for Northern Virginia: Accounting, Business, Marketing This brief presents
More informationWarsaw Office MarketView
Warsaw Office MarketView H1 213 CBRE Global Research and Consulting OFFICE STOCK 4. M SQ M OFFICE VACANCY 1.5% OFFICE TAKE-UP 334, SQ M COMPLETION 152, SQ M UNDER CONSTRUCTION 7.8% Y-O-Y GENERAL OVERVIEW
More information