2013 Year End Blue Book

SEMI-ANNUAL Marketing Intelligent Report For Commercial Real Estate

2013Blue Book

Download at

CBCworldwide.com

AL - Houston County 4AL - Huntsville 4AL - Montgomery/Central 5AR - Little Rock 5CA - Roseville/Placer County 6CA - Antelope Valley 6CA - Carmel/Monterey Peninsula 7CA - Chico 7CA - Corona/Riverside 8CA - Inland Empire/Victor Valley 8CA - Long Beach/South Bay 9CA - Los Angeles/San Fernando/San Gabriel 9 CA - Modesto MSA 10CA - Napa/Sonoma Valleys 10CA - Newport Beach 11CA - Orange County 11CA - Orange County Coast 12CA - Sacramento 12CA - San Bernardino/Inland Empire 13CA - San Diego 13CA - San Mateo County 14CA - Southwest Riverside County 14CA - West Los Angeles 15CO - Denver 15CO - Denver County 16CO - Western 16CT - Western 17FL - Brevard County 17FL - Daytona Beach/Ormond Beach 18FL - Florida Keys 18FL - Gainesville 19FL - Jacksonville 19FL - Lakeland/Winter Haven MSA 20FL - Melbourne/Palm Bay/Titusville 20FL - Miami-Dade County 21FL - Naples/Ft. Myers 21FL - Orange City/Debary 22FL - Orlando MSA 22FL - Port Orange/New Smyrna Beach 23FL - Port St Lucie 23FL - St Lucie County 24FL - Sarasota/Manatee/Charlotte 24FL - South Florida 25FL - Southeast 25FL - Tallahassee 26FL - Tampa Bay 26FL - Vero Beach 27GA - Athens 27GA - Atlanta MSA 28GA - Atlanta, Greater MSA 28GA - Macon, Bibb County 29GA - Peachtree City 29GA - Savannah 30HI - Honolulu 30ID - Kootenai County 31IL - Bloomington/Normal 31IL - Champaign/Urbana 32IL - Chicagoland 32IL - DuPage County 33IL - Tazewell County 33IN - Indianapolis 34KS - Garden City 34KS - Kansas City Metro Area 35KY - Louisville Metro 35KY - Paducah/McCracken County 36KY - Southern 36LA - Acadiana 37LA - New Orleans 37ME - Midcoast 38MN - Mankato 38MN - Minneapolis Metro 39MS - Gulfport/Biloxi 39MO - St. Joseph 40NE - Lincoln 40NV - Reno/Sparks MSA 41NJ - Central New Jersey 41NJ - Morris County 42NJ - Northern 42

NM - Albuquerque MSA 43NY - Albany/Capital Region 43NY - Buffalo/Rochester 44NY - Long Island 44NY - New York 45NC - Charlotte MSA 45NC - New Hanover County 46ND - Fargo/Moorhead 46OH - Cincinnati 47OK - Oklahoma City MSA 47OR - Portland 48OR - Salem/Keizer 48PA/NJ - Bucks Co, PA/Hunterdon Co, NJ 49PA - Lackawanna/Luzerne Counties 49PA - Pittsburgh 50SC - Charleston MSA 50SC - Columbia 51SC - Greenville 51SC - Myrtle Beach 52SC - Spartanburg 52SD - Rapid City 53TN - Chattanooga Metro 53TN - Knoxville - East 54TN - Nashville MSA 54TX - Austin 55TX - Bryan/College Station 55TX - Dallas/Ft. Worth 56TX - Houston 56TX - Lubbock 57TX - Rio Grande Valley 57TX - South/Central 58TX - Southeast 58TX - Waco 59UT - Salt Lake/Utah County 59VA - Fredericksburg 60VA - Lynchburg 60VA - Spotsylvania County 61VA - Williamsburg/Hampton Roads MSA 61WA - King County 62WA - Seattle 62WA - Tacoma/Puyallup 63WA - Vancouver & Southwest 63WI - Madison, Greater 64WI - Rock County 64WY - Cheyenne 65

INTERNATIONAL MARKETSAustralia - Gold Coast, Queensland 66Bermuda 66Canada - Aurora, Ontario 67 - Barrie, Ontario 67 - Campbell River, British Columbia 68 - Courtenay/Comox, British Columbia 68 - Innisfil, Ontario 69 - Nanaimo, British Columbia 69 - Newmarket, Ontario 70 - Orillia, Ontario 70 - Ottawa, Ontario 71 - Richmond Hill, Ontario 71 - Vaughan, Ontario 72 - Victoria/Capital Regional, British Columbia 72 - Waterloo Region, Ontario 73 - Winnipeg Area, Manitoba 73Cayman Islands - Grand Cayman 74Costa Rica 74France 75Greece 75Ireland - Republic of Ireland 76Italy 76México - México City 77Puerto Rico 77Spain 78United Arab Emirates - Dubai 78

CONTENTS

3

Vacancy

Absorption

Rental Rates

p 23 Markets

q 73 Markets

n 24 Markets

p 11 Markets

q 92 Markets

n 17 Markets

p 6 Markets

q 90 Markets

n 8 Markets

p 14 Markets

q 76 Markets

n 7 Markets

p 71 Markets

q 20 Markets

n 26 Markets

p 87 Markets

q 14 Markets

n 15 Markets

p 89 Markets

q 12 Markets

n 15 Markets

p 75 Markets

q 11 Markets

n 19 Markets

p 51 Markets

q 21 Markets

n 45 Markets

p 56 Markets

q 18 Markets

n 45 Markets

p 67 Markets

q 7 Markets

n 43 Markets

p 73 Markets

q 8 Markets

n 26 Markets

*Based off 122 US Markets (Information was N/A in certain sectors)

The Coldwell Banker Commercial® (CBC) Blue Book offers a unique market perspective with data generated by true commercial real estate market experts – the professionals of the Coldwell Banker Commercial companies within the local markets. In total, there are over 140 domestic and international markets covered in this edition of the Blue Book. Below are the US market statistics.

Source: Reis

OFFICE retail industrial mulTI-family

Q4 2012 Q4 2013

17.1% 16.9%

3,110,000 8,867,000

$28.47 $29.07

Vacancy

Absorption

Rental Rates

Q4 2012 Q4 2013

11.8% 11.3%

1,841,000 2,195,000

$18.00 $18.26

2012 2013

10.0% 9.5%

96,277,000 94,263,000

$4.61 $4.69

Q4 2012 Q4 2013

4.6% 4.1%

41,967 50,627

$1,097 $1,131

The charts below represent how many of the 127 US markets submitted in this book are Up, Down or had No Change.*

Dec 2012 vs Dec 2013Source: Bureau of Labor Statistics

p 4 Markets

q 116 Markets

n 2 Markets

UNEMPLOYMENT

OFFICE retail industrial mulTI-family

US TRENDS*

Sources of InformationEach market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.

4

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlfred Saliba Realty

Vacancy

OFFICE retail industrial multi-family

Absorption

Rental Rates

www.alfredsalibacommercial.com

410 N. Shady Lane Dothan, AL 36303(334) 793-6600

CONTACT

•In March, Houston County will be hosting the first meeting ever held in the United States of over 400 business owners from China who are interested in expansion into the US.

•There are new major retailers in the area including Sports Academy, Gander Mountain and Car Max.

•Tourism dollars for Houston County soar to $218 Million.

•The Hospitality industry continues to grow. Lodging Tax collection remains strong in Dothan, AL.

•Dothan, AL neighboring cities and counties benefit from major Industrial re-locations.

•The Osteopathic Medical College brings new development to the southside of Dothan.

q n n q

p n n p

n n n p

AL - Houston County

CBSA

Dothan, AL 1,718 143,295 57,785 $43,656 58,833 5.50%

SquareMiles

HouseholdIncomeMedian

Population Households Employees(Total) Unemployment

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcLain Real Estate

Vacancy


Absorption

Rental Rates

www.mclaincommercial.com

Post Office Box 2199 Huntsville, AL 35804(256) 533-3414

CONTACT

•Job announcements encourage market in general.

•Boeing announced 400 engineering jobs for Dreamliner project.

•Remington announced 2,000 jobs for their manufacturing plant.

•Retail leasing has recommenced.

•Downtown construction continues and is accelerating.

•City invokes half-cent sales tax for $250 million for road improvements.

p q n n

q p n n

n p n n

AL - Huntsville

CBSA

Huntsville 1,373 410,866 166,785 61,008 174,427 4.90%

SquareMiles



www.alfredsalibacommercial.com

www.mclaincommercial.com

5

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMoore Company Realty

Vacancy


Absorption

Rental Rates

www.moorecompanyrealty.com

121 Coosa St. Suite 250 Montgomery, AL 36104(334) 262-1958

CONTACT

•100 + year old Hancock Bank selects Montgomery, AL as its new corporate center, bringing 200 jobs. Ron Milliet, Hancock’s chief information officer, said it took two years to find its new location which was chosen due to the centrality of its five-state footprint, plus Montgomery is safe and has a good educational system. The Central Alabama corporate center will occupy approximately 40,000 SF at Montgomery’s Capitol Commerce Center off I-85. Hancock invested $500,000 in the opening of the new center, Milliet said, and expects to have an annual payroll of an estimated $3.5-4 million when all of the employees are hired.

•Vacancy is falling due to the unique position Montgomery finds itself in as the central interstate interchange and governmental hub in a state ripe with new auto manufacturing opportunities. Steel and aircraft manufacturing jobs are also blossoming throughout the state and region.

•A mix of Industrial facilities and bedroom communities, combined with downtown revitalization, is leading to a more balanced work/life atmosphere in the capital city.

•All 5 major metro areas representing 70% of Alabama sales have positive sales growth in 2013 led by Montgomery with year-over-year sales growth of 14.6%. Alabama residential sales in 2013 improved by 10.2% from the prior year. This represents the third consecutive year of positive sales growth for Alabama’s residential real estate industry. In 2012, sales grew 5.9% year-over-year.

q n q q

p n p p

n n p n

AL - Montgomery/Central

CBSA

Montgomery, AL

2,725 367,157 147,017 $52,679 144,160 5.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHathaway Group

Vacancy


Absorption

Rental Rates

www.hathawaygroup.com

2100 Riverdale Rd. Suite 100 Little Rock, AR 72202(501) 663-5400

CONTACT

•Bass Pro Shops opened to huge holiday crowds at Gateway Town Center.

•Retail vacancy rate dipped to 5.3% by end of 2013, approximately half the national rate.

•New England Development Co. of Newton, MA., plans a 325,000 SF outlet mall called The Outlet at Little Rock near Bass Pro Shops at the Gateway Town Center.

•212,000 SF Verizon Building and 147,000 SF Three Financial sold to local investors.

•LR Technology Park selects downtown Little Rock as location, choosing it over suburban sites in a close vote.

•Forbes Travel Guide names Little Rock one of its “Five Secret Foodie Cities,” mentioning Whole Hog Cafe.

q q q p

p p p q

p n n n

AR - Little Rock

CBSA

Little Rock- North Little Rock- Conway, AR

4,090 690,456 276,042 $56,190 290,765 6.20%

SquareMiles



www.moorecompanyrealty.com

www.hathawaygroup.com

6

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT

Vacancy


Absorption

Rental Rates

www.cbcworldwide.com

2200 B Douglas Blvd. Suite 200 Roseville, CA 95661(916) 786-4600

CONTACT

•Walmart is the major occupant in new Rocklin Super Center.

•Builders are pre-selling homes.

•Overseas investor buyers are making purchases in many markets.

•Large Land sales are happening.

•Construction jobs are up 25%.

•Skilled labor market is increasing in the market.

q q q q

p p p p

n p p p

CA - Roseville/Placer County

CBSA

Sacramento- Arden- Arcade-

Roseville, CA

5,094 2,141,658 801,834 61,184 727,825 7.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialValley Realty

Vacancy


Absorption

Rental Rates

www.cbcvalleyrealty.com

42402 10th St. West Suite E Lancaster, CA 93534(661) 948-2644

CONTACT

•City of Hope finished construction of a 56,195 SF full-service cancer facility in Lancaster.

•Kaiser Permanente broke ground on 136,000 SF Medical Office facility implementing a sustainable energy design slated to become their “signature” model for new Office construction.

•Construction began on an 88-room Best Western and a 93-room Town Place Suites by Marriott in Lancaster.

•Dick’s Sporting Goods began their move to former Gottschalks building in the Antelope Valley Mall.

p p q N/A

n q p N/A

q p n N/A

CA - Antelope Valley

CBSA

Los Angeles- Long Beach-

Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles




www.cbcvalleyrealty.com

7

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


3775 Via Nona Marie Carmel, CA 93921(831) 601-3284

CONTACT

•After decades of little to no development, the outlook is changing on the Monterey Peninsula. The City of Monterey has approved and found water credits for over 100 new residential units in the heart of Downtown Monterey.

•The latest re-use proposal for the former Holman Building was turned down by voters in Pacific Grove. This Hotel project has expired.

•Retail rents and vacancy are increasing in Downtown Carmel.

•East Garrison development in the former Fort Ord is moving forward and already selling new homes. Other developments within Fort Ord are selling homes; retailers and service providers are open for business; and the new movieplex opened.

•Voters are finally getting serious about finding a long term water solution.

•Retail and Office sectors at the mouth of the Valley are filling in the huge vacancies that resulted from McGraw Hill relocating to Ryan Ranch. New tenants include Prim Hardware and Beverages, as well as others.

q q n q

p p n p

N/A p p p

CA - Carmel/Monterey Peninsula

CBSA

Salinas, CA 3,322 413,103 133,220 65,355 120,633 11.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialDuFour Realty

Vacancy


Absorption

Rental Rates


1350 E. Lassen Ave., Suite 1 Chico, CA 95973(530) 895-1545

CONTACT

•Employment levels are improving. There were 1,300 new jobs in Butte county in 2013.

•Housing market is stable after modest upward trend.

•Excellent absorption of Warehouse lease space. Scarcity of smaller units and some new Warehouse construction is planned.

•New 60,000 SF North Butte County Courthouse is under construction in Chico.

•New Retailers in the area include: Dollar General, Dollar Tree, Sportsman’s Warehouse, Goodwill, Jersey Mike’s, McDonalds and It’s a Grind Coffee.

•Agricultural industry is doing well. However, drought is a major concern.

q q q N/A

p p p N/A

n n p N/A

CA - Chico

CBSA

Chico, CA 1,639 221,277 88,796 $43,239 60,484 9.10%

SquareMiles





8

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSudweeks Group

Vacancy


Absorption

Rental Rates

www.cbcsocalgroup.com

1260 Corona Pointe Ct. Suite 101 Corona, CA 92879(951) 200-7683

CONTACT

•Industrial continues to be the strongest sector in the region with a vacancy rate under 4%. Industrial construction has increased with buildings in the most desirable areas receiving offers before construction begins.

•Office has seen the most dramatic recovery. Vacancy rates have declined to 13% as the buildings constructed at the end of the previous building boom are being absorbed. Rental rates in the Class A buildings are increasing, and businesses in the area are expanding.

•With construction activities increasing, the expansion of the retail business is starting to surge. In turn, with more contractors working, the additional demand for Industrial product will rise.

•Retail space in well anchored shopping centers is now at a premium. The Retail projects constructed at the end of the building boom have been repositioned with new ownership at a much lower cost basis, allowing those owners to pass along more competitive rental rates.

•Multi-Family continues to perform well in the area. After almost a decade of very limited construction, Multi-Family projects are now coming on line. Large scale luxury Apartment projects have opened in Corona and Riverside with strong absorption causing an uptick in rental rates.

q q q q

p p p p

p n p p

CA - Corona/Riverside

CBSA

Riverside- San

Bernardino- Ontario, CA

27,260 4,171,856 1,350,253 52,845 1,156,307 8.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialReal Estate Solutions

Vacancy


Absorption

Rental Rates

www.cbcdesert.com

15500 W Sand St. 2nd Floor Victorville, CA 92392(760) 684-8000

CONTACT

•Activity for land purchases were up 150% year over year.

•The Southern California Logistics Airport (SCLA) Industrial Park is near capacity. Industrial stats outside of SCLA ended the year at $3.36 lease rate and 7.6% vacancy.

•Regional home builders have returned in 2013 with median re-sale house prices up 32% year over year.

•Office vacancy rates showed steady decline, ending the year at 6.0% with lease rates of $14.76. The majority of space was leased to small & medium format users.

•Retail expansion continued in 2013 with national & regional brands including; Jersey Mike’s, Denny’s, Ulta Beauty, Big 5, Dollar General, Dick’s Sporting Goods and others. Retail vacancy rate fell from 12.2% in 2012 to 10.7% ending 2013, which included the absorption of 600,000 SF in new deliveries.

•Two new super Walmarts opened in 2013, with a 3rd under construction and a 4th breaking ground in 2014.

q q p q

p p q p

q q p n

CA - Inland Empire/Victor Valley

CBSA

Riverside- San

Bernardino Ontario, CA

27,260 4,171,856 1,350,253 $52,845 1,156,307 8.90%

SquareMiles




www.cbcdesert.com

9

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBlair Westmac

Vacancy


Absorption

Rental Rates

www.cbcblair.com

333 W. Broadway Suite 312 Long Beach, CA 90802(562) 495-6070

CONTACT

•Mercedes Benz USA leased 1.1 million SF in the Long Beach Airport area.

•Virco Manufacturing renewed a lease of 559,490 SF in Torrance.

•Multiple new Residential and Retail developments in Downtown Long Beach are set to break ground in 2014.

•Multi-Family cap rates continue to stay low in the range of 3-4%.

•Scan Health Plan completed a lease renewal and expansion transaction for a 202,804 SF Office space for 12 years at Kilroy Airport Center.

•The 150,000 SF ocean front Retail center of Ports O’ Call in San Pedro to begin a $1.2 Billion redevelopment led by the LA Waterfront Alliance.

n p n q

N/A q n n

p p p p

CA - Long Beach/South Bay

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlliance

Vacancy


Absorption

Rental Rates

www.cbcalliance.com

701 North Brand Blvd. 850 Glendale, CA 91203(818) 334-1900

CONTACT

•Multi-Family: 4-6,000 high end rental units are under construction, and there are more buyers than ever before.

•Office: Community Bank took 90,000 SF in Pasadena but the market continues to be soft in the tri-cities.

•Industrial: Vacancy is declining as existing inventory is leased or sold without new development of any significance in LA County.

•Retail: One of the most notable sale transactions in 2013 was the sale of the 964,000 SF Valencia Town Center in Valencia, CA for $195,000,000.

•Retail: The vacancy rate in Los Angeles has decreased to 5.2%.

q q q q

p p p p

p n p p

CA - Los Angeles/San Fernando/San Gabriel

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles



www.cbcblair.com

www.cbcalliance.com

10

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialVinson Chase, Realtor

Vacancy


Absorption

Rental Rates


220- C Standiford Ave. Modesto, CA 95350(209) 577-4747

CONTACT

•Stanislaus County is located in the Central Valley. Many people in the surrounding areas shop in its county seat of Modesto.

•The major industry is AG-related, employing approximately 18,000 people or 11.3 percent of the total 160,000 people that are employed. The unemployment rate varies due to seasonal positions in the AG industry.

•Well located shopping areas have been attracting new tenants with some major remodeling. Vacant spaces, due to the lack of new construction, have been absorbed as needed. Kaiser Permanente built a major hospital complex with Memorial Hospital building a major expansion.

•There have been major layoffs in the government sector based on tax assessments being lowered due to the downturn in real estate values. Leveling out has occurred, and all are hoping real estate prices will start to rise more in 2014. This will only come if unemployment in the area starts to decline.

q q n q

p p q p

p p n p

CA - Modesto MSA

CBSA

Modesto, CA 1,494 512,221 167,008 $49,395 140,743 12.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBrokers of the Valley

Vacancy


Absorption

Rental Rates

www.napacommercialproperties.com

1775 Lincoln Ave. Napa, CA 94558(707) 224-8454

CONTACT

•Upvalley, in Calistoga, two new restaurants, 1226 Washington and Hotel D ‘Amici Ristorante, were opened by new owners in previously shuttered locations.

•In St. Helena, commercial lease rates remained steady, hovering around $4 PSF on Main Street, with only a single 1,500 SF space available at year’s end.

•Redevelopment of the old Town Center in Napa, now called The Shops at Napa Center, got a boost with the naming of its new anchor, a 7-story luxury hotel, Archer Napa, to be developed by Zapolski Real Estate and LodgeWorks.

•Near the end of 2013, the Industrial vacancy rate was very low, below 2% for the City of Napa and in the business parks, as well, which are located in unincorporated areas of the county.

•CRE vacancy rate in American Canyon held steady at about 4.8%.

•In Sonoma Valley, the most coveted Retail spaces continue to exist on the History Plaza, in the center of Sonoma. Scarce inventory plus prime location command top dollar for rents.

q q n n

p p n n

n p n p

CA - Napa/Sonoma Valleys

CBSA

Napa, CA 754 135,273 52,057 $72,042 60,343 5.90%

SquareMiles




www.napacommercialproperties.com

11

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


201 Marine Ave. Newport Beach, CA 92662(949) 422-6657

CONTACT

•Retail vacancies are down in Newport Beach area.

•Office vacancies are still high at 12% with the exception of Fashion Island.

•Employment is up, and the area small business should be increasing.

•Commercial activity in general is picking up.

p q q q

p p p p

n q p p

CA - Newport Beach

CBSA

Los Angeles-Long Beach-

Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

2600 Michelson Dr. Irvine, CA 92612(949) 954-3700

CONTACT

•OC’s Industrial market is tied with greater LA Industrial market for the lowest Industrial vacancy rate in the country at 4.4%.

•OC’s Office market inches toward Landlord & Tenant equilibrium. Vacancy rates in low, mid, and high-rise buildings continue to drop, approaching single digit vacancy in some sectors.

•OC Apartments had a terrific year. The housing demand continues to tighten on the rental market as many people are forced to rent as a result of the recent housing downturn.

•Sign of Retail recovery is clearly underway, led by the food industry, especially quick-service restaurants. Throughout the recession, lunch crowds and families were drawn to fast, affordable, healthy alternatives.

•Investment sales of all types have led to a robust recovery in OC. Declining cap rates have increased values and clearly indicate an increasing demand from investors for well located, income producing OC properties.

q q q q

p p p p

p p p p

CA - Orange County

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles




www.cbcalliance.com

12

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


4 San Joaquin Plz. Suite 260 Newport Beach, CA 92660(714) 504-4649

CONTACT

•Orange County jobless rate dropped to 5.2%.

•There is a shortage of housing so building permits are up.

•Employment is still below the 2006 peak.

•Home supply is low and resulted in a 19.7% increase in prices.

•Construction growth is 15% higher than any other economic OC sector.

•Orange County is attractive to businesses because it is 75 degrees most all of the year.

p q q q

q p p p

p q n p

CA - Orange County Coast

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 7.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


730 Alhambra Blvd Sacramento, CA 95819(916) 447-5900

CONTACT

•Over the past 6 months, no major tenants have moved out.

•Rental rates are rising for multi Apartment units.

•Construction improved past year but is still slow.

•Residential market: inventory of REO is low. Residential prices have gone up due low inventory.

•The market is improving slowly in both Residential and Commercial.

•For investment properties, it is still a bargain area. Investors can possibly still obtain 8-9% cap rate.

p p q q

n p p p

n n n q

CA - Sacramento

CBSA

Sacramento--Arden-Arcade-

-Roseville, CA

5,094 2,141,658 801,834 61,184 727,825 7.60%

SquareMiles





13

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1901 Orange Tree Lane, Suite 250 Redlands, CA 92374(909) 793-3600

CONTACT

•Large Industrial site values have spiked to accommodate large new Warehouse construction. 20 buildings, totaling 10,745,000 SF, are under construction and 5 buildings, totaling 2,095,00 SF, have been completed.

•Notable Industrial leases over 300,000 SF: Amazon, Burlington Coat, Decker Outdoor, Kane Warehousing, Ross Dress for Less and Building Material Distributors, Inc.

•Major transactions include: 303 E. Vanderbilt, San Bernardino - 69,000 SF; San Bernardino County leased investment: $1.85/SF/FSG, 10 year term. Sales price was $7,250,000.

•Unemployment has dropped to 8.7% from 10.9% over the past year.

n q n N/A

n n p N/A

p p p N/A

CA - San Bernardino/Inland Empire

CBSA

Riverside- San


27,260 4,171,856 1,350,253 52,845 1,156,307 8.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


4365 Executive Drive, Suite 710 San Diego, CA 92121(619) 344-0870

CONTACT

•The unemployment rate is at 6.4% in San Diego County. It is down 1.2%.

•Sempra Energy has signed a 25 year lease for 330,000 SF.

•San Diego’s Q4 Office developments currently under construction reached 921,266 SF, increasing more than 227,000 SF more than Q3, 2013.

•Vacancy for all Retail center types, including sublease space, was 5.3%.

•Industrial vacancy rates have declined for 10 consecutive quarters and should reach the pre-recession vacancy rate next year.

•The Multi-Family market is one of the best in the country with average vacancy rates county wide at 2.1%.

q q q q

p p p p

p p p p

CA - San Diego

CBSA

San Diego- Carlsbad-

San Marcos, CA

4,200 3,071,264 1,129,261 $66,264 1,227,936 6.40%

SquareMiles




1.85/SF/FSG

1.85/SF/FSG


14

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialWestbay Real Estate Group

Vacancy


Absorption

Rental Rates

www.cbcburlingame.com

1575 Bayshore Hwy. Suite 100 Burlingame, CA 94010(650) 344-4300

CONTACT

•This year was the strongest growth year in the Industrial market as over 1.2 million SF of space was absorbed with a huge deal with FedEx.

•The current average asking rent for Industrial space is down over 12% from one year ago.

•Cornerstone Real Estate buys 179,902 SF at 777 Mariners Island Blvd. in Foster City.

•Monster Cable renews 153,200 SF space in Brisbane.

•Invesco Real Estate buys 462,316 SF in South San Francisco.

p p q p

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CA - San Mateo County

CBSA

San Francisco-Oakland-

Fremont, CA

2,473 4,347,767 1,661,661 80,439 1,916,201 5.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


27708 Jefferson Ave. Suite 201 Temecula, CA 92590(951) 200-7683

CONTACT

•Several Medical Office buildings have come on the market due to the recent completion of the Temecula Valley Hospital at the end of 2013.

•Delivery has resumed on the Truax Building, the only professional Office building currently under construction in Southwest Riverside County. It is a four story, 64,891 SF Class A project in Old Town Temecula with a new anticipated delivery date of April 1, 2014.

•The amount of construction of Retail product is up over Q3 with 59,294 SF currently under construction throughout the South West Riverside County Market.

•Industrial market continues to steadily increase in lease and sales transactions.

•The unemployment rate has dropped to 8.7%, down from 11.1% from the previous year.

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CA - Southwest Riverside County

CBSA

Riverside- San


27,260 4,171,856 1,350,253 $52,845 1,156,307 8.70%

SquareMiles



www.cbcburlingame.com


15

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialWESTMAC

Vacancy


Absorption

Rental Rates

www.westmac.com

1515 S. Sepulveda Blvd. Los Angeles, CA 90025(310) 478-7700

CONTACT

•Iconic Century Plaza Towers development in Century City is on the market for sale.

•Vacancies are trending down; 160,000 SF lease was signed in West LA on a new development with Riot Games.

•There is some construction activity in Downtown LA, Hollywood and Playa Vista submarkets.

•Apartments are in high demand.

•There is a high demand and low supply of available assets for sale.

•With no NFL team in #2 market in the country, multiple developers/investors are trying to bring NFL to their respective projects.

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CA - West Los Angeles

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 $60,485 5,313,010 7.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

999 18th Street, Suite 1350 Denver, CO 80202(303) 238-7777

CONTACT

•Year-to-date absorption arrived at 2,113,335 SF while vacancy decreased to 11.4%; this despite deliveries of 980,000 SF of new product. Rental rates increased in the CBD, NW, and SES submarkets between 8 and 12%.

•The largest lease signings of 2013 included: the 485,000 SF lease signed by DigitalGlobe at 1300 W 120th Ave in the North Denver market; the 280,000 SF lease signed by Starz, LLC at the Starz Encore building in the Southeast Denver market.

•The 2013 Office investment market held steady with 2012’s performance. There were 120 total transactions with a sales volume of $2,092,712,239 as compared to the $1,932,333,338 covering 97 transactions in 2012.

•At the newly renovated building owned by Brookfield Properties, 1801 California, 3 new leases with energy companies were signed resulting in a net absorption for the property of nearly 100,000 SF.

•Looking over the horizon at Denver’s CBD and the Denver market in general, the future looks very bright. Fueled by continued expansion of energy services, telecom, and technology, factors coupled with the perceived quality of life are driving Denver’s commercial real estate.

•The Union Station transit center and DIA’s South Terminal Redevelopment Program represented one of Denver’s most profound and strategic civic investments in a generation. In its entirety, the project carries a price tag of about $2.6 billion.

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CO - Denver

CBSA

Denver- Aurora, CO

8,369 2,578,383 1,001,550 67,727 1,140,976 5.80%

SquareMiles



www.westmac.com

www.cbcalliance.com

16

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


8490 E Crescent Pkwy Greenwood Village, CO 80111(303) 843-1600

CONTACT

•There are big growth opportunities in Denver.

•Vacancy is decreasing because the economy is progressing.

•Fitzsimons project (new CU Medical center) has increased the value and potential of that area.

•Due to the lack of inventory in the Residential market, investors are looking into Commercial properties

•Rents are increasing in all markets.

•Denver has highly educated individuals who bring companies to this city.

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CO - Denver County

CBSA

Denver- Aurora, CO

8,369 2,578,383 1,001,550 67,727 1,140,976 5.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPrime Properties, LLC

Vacancy


Absorption

Rental Rates

www.grandjunctioncommercial.com

2646 Patterson Rd., Suite B Grand Junction, CO 81506(970) 243-7375

CONTACT

•Western Colorado continues to have slow recovery as the energy related business is volatile. Growth areas continue to be Medical and Retail. Medical Center began the next phase of construction which will be a $40M economic impact to the region.

•Vacancy rates, in general, are steady because new, small businesses are getting started in the market and owners are price conscious.

•New construction includes: a 87,000 SF Medical facility; an ew 17,000 SF pain management and ambulatory surgery center that opened Q3 and redevelopment of a 47,280 SF family fun center.

•Residential market is up slightly with increased transactions and increased average sale price.

•Energy related business remains volatile making for a low absorption rate for Industrial properties.

•Number of building permits are down significantly from 2012 for the total MSA including unincorporated Mesa County. 2013, 3,333 total new building permits were issued; in 2012 there were 5,186 permits issued, down 64%.

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CO - Western

CBSA

Grand Junction, CO

3,328 148,298 60,317 $47,409 54,564 6.90%

SquareMiles




www.grandjunctioncommercial.com

17

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


77 Old Ridgefield Rd. Wilton, CT 06897(203) 831-4187

CONTACT

•Fairfield County’s Office market ended Q4 2013 with a vacancy rate of 15.3%. The vacancy rate was up over the previous Qtr., with net absorption totaling negative (51,256) SF in Q4. That compares to negative (20,283) SF in Q3, negative (115,900) SF Q2 and a positive 36,274 SF Q1 2013.

•Fairfield County’s vacant office sublease space decreased in Q4, ending the qtr at 542,165 SF, from 814,274 SF at the end of Q3 2013. There was 841,779 SF vacant at the end of Q2 2013 and 841,466 SF at the end of Q12013. There was 173,403 SF still under construction at year end.

•Rental rates ended Q4 at $33.73, an increase over the previous Qtr. There was 173,403 SF still under construction at the end of the Qtr.

•Among significant movements in 2013 were: Financial Accounting Standards Board 70,936 SF at Merit 7, Sale of Hubbell world Headquarters to the University of New Haven 70,000 SF, Boehringer Pharmaceutical 327,000 SF at Matrix Center Danbury, Connecticut.

•The largest construction project underway is a 167,691 SF building for Cervalis LLC with 100% preleased.

•The average quoted asking rate is $33.73.

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CT - Western

CBSA

Bridgeport-Stamford-

Norwalk, CT

626 904,874 336,733 $91,039 419,437 6.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSun Land Realty of Florida

Vacancy


Absorption

Rental Rates

www.cbcsunlandrealty.com

1920 Hwy A1A Indian Harbour Beach, FL 32937(321) 777-7743 / (800) 940-1480

CONTACT

•Missouri-based Bass Pro Shop opened its first Brevard store in Palm Bay in December 2013, adding 200 jobs to the area. The company purchased and renovated a 12.34-acre, 110,658 SF Retail building.

•Embraer Aircraft will add 600 jobs for a new 250,000 SF luxury jet facility at Melbourne Int’l Airport, and another 200 will be employed at the company’s Engineering and Technology Center in late 2014, bringing the total to over 1,000 employees.

•Northrop Grumman’s new manned-aircraft engineering center in Melbourne will bring 1,000 new jobs to the Space Coast.

•Brevard’s Dec. 2013 Residential market average sale price is $151,149. It is up over 11% over Dec. 2012 prices, and the Dec 2013 average days on the market of 66 has dropped 20% over Dec 2012.

•Foreign Trade Zone 136 has a superior infrastructure for national/international trade including the second busiest port in the world, a freight railway system and major interstate highways.

•“Space Coast” Brevard offers pro-business incentives, low taxes, robust transportation infrastructure, high-tech labor force, 73 degree average temp, and 72 miles of pristine beach.

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FL - Brevard County

CBSA

Palm Bay- Melbourne-

Titusville, FL

1,018 536,805 225,977 $56,299 181,926 6.50%

SquareMiles




www.cbcsunlandrealty.com

18

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBenchmark

Vacancy


Absorption

Rental Rates

www.benchmarkdaytona.com

570 Memorial Circle Suite 300 Ormond Beach, FL 32174(386) 672-8530

CONTACT

•Daytona Beach Shores Oceanfront 210-room resort sold for $39.5 million or $188,095 per door.

•Hilton Garden Inn flags 110-room ocean front hotel with over $5 million of improvements.

•Beachside shopping center sells for $21 million as activity begins on beachside.

•One Daytona, Jacoby Group and International Speedway Corp. are well underway with the permitting of 1.1 million SF of Mixed-Use Retail and entertainment center with the announcement of Bass Pro Shops, Cobb Theatres and many others.

•Resort bed tax continues to climb, and boarding capacity at Daytona Beach International Airport continues to increase with larger seating capacity planes.

•Embry-Riddle Aeronautical University in Dayton Beach installs largest university research telescope in the state of Florida.

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FL - Daytona Beach/Ormond Beach

CBSA

Deltona Daytona Ormond

Beach, FL

1,103 495,625 214,567 $47,500 146,482 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchmitt Real Estate Company

Vacancy


Absorption

Rental Rates


11100 Overseas Hwy. Marathon, FL 33050(305) 743-5181

CONTACT

•Hospitality continues to lead the way with monumental sales of hotels up and down the Florida Keys reaching new heights based on some of the highest Occupancy, Rev Par and ADR’s in the U.S. These trends are fully expected to continue because of the existing moratoriums on new transient units.

•Commercial vacancies are low because of inherent limits on new commercial development which have been in place since the mid 1980’s. Occupancy rates are high for similar reasons.

•Over 500 new hotel units are planned and under construction in the Middle Keys while nearly that many are being built and renovated in Key West. Hyatt and Marriott are adding new units to the marketplace.

•Residential sales increased by over 15% while listing inventories declined by over 10%, and average sales prices increased by 6% in 2013. Going forward, the impact of distressed sales will continue to decline as they only represent about 5% of the market.

•The market has clearly changed to a sellers market. Sales price to list price ratios are growing at the same time that prices are rising. Prices are expected to grow at a faster pace in 2014 than they did in 2013 for all sectors.

•The Florida Keys enjoy the lowest unemployment rate in Florida and the nation. Strict limits on development create significant barriers to new Commercial and Residential development.

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FL - Florida Keys

CBSA

Key West, FL 997 73,047 32,553 $71,455 29,685 6.40%

SquareMiles



www.benchmarkdaytona.com


19

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialM.M. Parrish Realtors

Vacancy


Absorption

Rental Rates

www.mmparrish.com/commercial

7515 W. University Ave. Suite 201 Gainesville, FL 32607(352) 264-3772

CONTACT

•Retail leasing under 2,000 SF accounted for 60% of Retail transactions, and those under 1,000 SF and priced right are very hot. Retail sales were few and far between.

•Office leasing under 3,000 SF accounted for 78% of Office leases with the 1,000-2,000 SF range leading the charge. Office sales picked up considerably with over 50% of all deals in the 1,000-2,000 SF range.

•Industrial leasing from 1,000-3,000 SF accounted for 59% of all Industrial leases with high activity in the 7,000-10,000 SF range. Industrial sales are still very slow but light years better than 2012.

•Agriculture, farm, and timberland sales have picked up greatly, with sales under 50 acres accounting for 74% of all Land sales.

•The Multi-Family market has recovered nicely but few sales occur over 50 units. Over 60% of the Multi-Family sales in the market are duplexes and quadriplexes.

•Median days on the market. Times for each asset class are still rough: Industrial lease - 201 days; Industrial sales - 209 days; Retail lease - 593 days; Office lease - 298 days; Office sales - 140 days; Land - 431 days.

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FL - Gainesville

CBSA

Gainesville, FL

1,223 261,674 113,545 $45,060 87,322 5.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBenchmark

Vacancy


Absorption

Rental Rates

www.cbcbenchmark.com

4348 Southpoint Blvd., Suite 310 Jacksonville, FL 32216(904) 281-1990

CONTACT

•There are three large signature Office buildings currently on the market for investors in Downtown Jacksonville: 30-story EverBank Center, 37-story Wells Fargo Center, and 42-story Bank of America Tower.

•One of the largest Retail transactions that occurred within the last four Qtrs in the Jacksonville market is the sale of Markets at Town Center in Jacksonville. This 330,518 SF Retail center sold for $135,007,000, or $408.47 per SF, at a 6.14% cap rate.

•One of the largest Industrial transactions that occurred within the last four Qtrs in the Jacksonville Riverside market is the sale of Winn Dixie Warehouse in Jacksonville. This 1,214,572 SF building sold for $99,768,414, or $82.14 per SF, at a 7.00% cap rate.

•Multi-Family Sale in Jacksonville: 1401 Riverplace LLC paid American Land Ventures $53.3 million ($180,678 per unit) for The Strand, a 295-unit, Class A, 28-story high-rise in the Southside market area at a 5.6% cap rate.

•Two natural gas companies will form a joint venture to develop a new liquefied natural gas plant in Jacksonville for TOTE Inc., the parent company of Sea Star Line. TOTE has issued a contract in excess of $350 million to build the world’s first LNG-powered container ships.

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FL - Jacksonville

CBSA

Jacksonville, FL

3,221 1,334,380 518,910 $60,216 551,254 5.60%

SquareMiles



www.mmparrish.com/commercial

www.cbcbenchmark.com

20

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSaunders Ralston Dantzler Realty

Vacancy


Absorption

Rental Rates

www.srdcommercial.com

114 N Tennessee Ave. 3rd Floor Lakeland, FL 33801(863) 877-2828

CONTACT

•1 M SF Amazon Warehouse is under construction on 112 acres located on County Line RD south of I-4.

•LEGOLand Florida starts construction on 152 room themed hotel. New restaurants nearby include Golden Corral, Taco Bell, and McDonalds.

•NE Polk growth (I-4/US Hwy 27) continues; Polk County Tax Collector regional office is under construction. Ernie Caldwell Boulevard extension is underway. WaWa is planning to build a new store.

•Residential market is improving; time on market is down to 110 days, prices are up over 15%. New construction SFR is up nearly 40%

•Lakeland CBD Office occupancy is up, but rents are still flat. Warehouse occupancy is strong and new spec buildings are being planned.

•Polk still lags Florida and nation in job growth. Nov 2013 employment is 8%, which is below the peak in 2007. County is planning more economic incentives to attract new business.

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FL - Lakeland/Winter Haven MSA

CBSA

Lakeland Winter

Haven, FL

2,010 612,074 230,314 $41,582 248,100 6.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialParadise

Vacancy


Absorption

Rental Rates

cbc.flcoldwellbanker.com

232 Fifth Ave. Indialantic, FL 32903(321) 723-9500

CONTACT

•Northrop Grumman 200,000 SF Aircraft Design Center is under construction at Melbourne International Airport, bringing over 1,000 new high paying jobs.

•Retail, Office and Industrial vacancies have dropped due to increase of jobs and new companies relocating to Brevard County.

•Port Canaveral is constructing new terminals to handle the new mega 5,000 plus passenger ships.

•Residential market is up over 24% from last year. DR. Horton broke ground on a new 1,200 unit subdivision in Palm Bay.

•Brevard Community College has become a 4 year state college. Florida Institute of Technology continues to grow at a rapid pace and is now ranked as one of the best universities in the US.

•The next generation of space exploration is being developed at the Space Center programs such as ORION deep space exploration. New space development companies continue to absorb NASA work force.

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FL - Melbourne/Palm Bay/Titusville

CBSA

Palm Bay- Melbourne-

Titusville, FL

1,018 536,805 225,977 $56,299 181,926 6.50%

SquareMiles



www.srdcommercial.com


21

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

801 Brickell Ave. Miami, FL 33131(305) 632-0200

CONTACT

•Vacancy rates are down; absorption and rental rates are up in every category.

•Brickell City Center, with an estimated cost of $1.05 billion and 5.4 million SF, is under construction.

•Port of Miami dredging for Post-Panamex ships is nearing completion.

•A high percentage of purchasing is being done by foreign all-cash investors.

•118 condo towers have been proposed in the Miami area, including 35 under construction.

•Whole Foods is under construction in the CBD, a sign of Downtown revitalization.

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FL - Miami-Dade County

CBSA

Miami-Fort Lauderdale-

Pompano Beach, FL

5,126 5,566,404 2,128,471 57,415 2,069,525 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


4851 North Tamiami Trail Naples, FL 34103(239) 216-4949

CONTACT

•Hertz Rental Cars World headquarters is moving to SW Florida.

•Vacancy is falling because business is getting much better and there has been almost no new construction in the last 5 or 6 years.

•The market is just now showing some signs of life.

•The Residential market is rebounding, and new construction is well under way.

•Residential construction is way up, and Commercial is just starting to move up.

•Naples is the place to buy or lease. The market is near the bottom of the worse depression ever but is starting to bounce back.

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FL - Naples/Ft. Myers

CBSA

Naples- Marco Island,

FL

2,025 320,101 132,487 $76,515 115,960 5.40%

SquareMiles



www.cbcalliance.com


22

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAI Group

Vacancy


Absorption

Rental Rates

www.cbcaigroup.com

1019 Town Center Dr. Suite 200 Orange City, FL 32763(386) 775-8633

CONTACT

•Florida Hospital Fish Memorial to build a two-story outcare patient center in Deltona.

•ManpowerGroup just released its Employment Outlook survey stating that the No. 1 spot for companies looking to hire in Q1 2014 is the Deltona, FL metropolitan region, which includes Daytona Beach and Ormond Beach on the state’s east coast.

•Commercial construction building permits exceeded $242,000,000 in Volusia County for 2014, the most since 2008.

•New home permits rose the most since 2007 in Volusia County to an amount of $325,000,000.

•Volusia County is transforming from a bedroom community to a thriving region attracting new business.

•AARP named Volusia County as one of the top ten places to retire.

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FL - Orange City/Debary

CBSA


Beach, FL

1,103 495,625 214,567 $47,500 146,482 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


901 N Lake Destiny Dr., Suite 110 Maitland, FL 32751(407) 539-1000

CONTACT

•Orlando is ranked #1 Commercial market in U.S. The CBC market comparison report showed Orlando as the only market to rank among the top 10 in the percent change of vacancy and rental rates in each sector. It also is the only market to rank among the top 10 in population and employment growth.

•Orlando remains #1 tourist destination with a record 56 million visitors in 2013 generating $50 billion in economic impact.

•Lake Nona “Medical City” is expected to create 30,000 jobs and $7.6 billion in economic impact by 2017.

•Orlando International Airport is preparing for a $1.1 billion expansion to host 45 million visitors by 2020.

•SunRail will begin service this year, running 61 miles from Volusia County to Osceola County.

•Dr. Phillips Center for the Performing Arts opens this fall as does a new 18,000 seat soccer stadium that will be home to Orlando’s new MLS franchise.

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FL - Orlando MSA

CBSA

Orlando-Kissimmee,

FL

3,491 2,093,845 799,047 $53,425 956,766 5.50%

SquareMiles



www.cbcaigroup.com


23

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCoast Realty

Vacancy


Absorption

Rental Rates

www.cbccr.com

5535 S Williamson Blvd. Suite 724 Port Orange, FL 32128(386) 763-3323

CONTACT

•The City of Port Orange saw significant growth over 2013, with Bj’s, Starbucks, Chipolte, and LA Fitness, which is now going vertical. Out-parcels of established shopping centers are now beginning to develop as well.

•The White Palms apartment is well underway, a $30 Million dollar investment by LIV Development out of Birmingham AL.

•The Intersection of Reed Canal and Clyde Morris has begun to develop, with 7-Eleven taking the corner, and further Out-parcels being planned.

•New Smyrna continues to see development, both Downtown and SR-44/I-95. Seeing a direct benefit from the City’s expedited development permitting.

•Vacancies in Downtown Daytona Beach are down, with a slew of new shops, a microbrewery, and The Hub.

•Manufacturing businesses have even shined some light on the New Smyrna Beach Airport.

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FL - Port Orange/New Smyrna Beach

CBSA


Beach, FL

1,103 495,625 214,567 47,500 146,482 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1800 NW Corporate Blvd. Suite 100 Boca Raton, FL 33431(561) 479-5963

CONTACT

•The Palm Beach Office market vacancy rate declined to 23.2%. Retail also declined by 3.7%.

•The area is seeing an increase in service related businesses with the housing recovery along with more manufacturing companies relocated and expanding. Conditions are expected to continue to improve.

•Largest leases were signed in Boca Raton by Tyco Integrated Security for 72,235 SF and Boston Proper/Chicos for 65,000 SF.

•The Retail market was strong in Q4 2013 with positive 798,552 SF absorbed, in comparison to negative (829,769) SF in Q3 2013.

•Buyers are keeping a close eye on interest rates, and it soon may be affecting offerings on multifamily investments.

•Palm Beach Outlet Mall had a grand opening in Feb. 2014. It was a re-development featuring 80-100 outlet stores.

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FL - Port St Lucie

CBSA


Pompano Beach, FL

5,126 5,566,404 2,128,471 $57,415 2,069,525 6.00%

SquareMiles



www.cbccr.com


24

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialParadise Hoyt Murphy, Realtors

Vacancy


Absorption

Rental Rates


411 N. U.S. Hwy. 1 Fort Pierce, FL 34950(772) 461-3250

CONTACT

•South Florida Investors are coming back strong to the area!

•Southern St. Lucie County is poised for the next boom. Major infrastructure is in place.

•Residential construction is rebounding. Home prices are increasing 10 - 15% per year.

•Land investors are back in the market, especially for Residential parcels.

•There is huge interest in the few remaining Oceanfront High Rise sites.

•Loss of Digital Domain Film Studio was a set back for Port St. Lucie. However, the new Bass Pro Shop is doing very well.

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FL - St Lucie County

CBSA

Port St. Lucie, FL

1,128 407,361 169,340 $53,266 117,662 7.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1800 2nd St., Suite 104 Sarasota, FL 34236(941) 925-8586

CONTACT

•Matter Brothers Furniture Store has purchased 100,000 SF in the Parker Hannifan Building at 4675 Clark Rd. This building had been on the market for seven years, and Coldwell Banker NRT agents Jon Kleiber and Terry Eastman handled the transaction.

•Industrial sales have increased dramatically.

•Private funds are the most prominent buyers of commercial real estate.

•Overall vacancy rates have decreased.

•The I-75 corridor has the lowest vacancies for all types of commercial real estate.

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FL - Sarasota/Manatee/Charlotte

CBSA

Sarasota- Bradenton- Venice, FL

1,313 689,676 311,173 $58,236 230,801 5.70%

SquareMiles





25

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1800 NW Corporate Blvd. Suite 100 Boca Raton, FL 33431(561) 367-4111

CONTACT

•Multi-Family prices appear to be peaking. This is the most sought after market in the State of Florida.

•Retail activity is thriving, as Walmart, Whole Foods, Trader Joe’s and Lord & Taylor open stores in south Florida.

•Industrial sales activity is up. Cap rates have been lower, and price per SF has averaged $63.00.

•Palm Beach County Office market vacancy rate declined to 23.2%. Average direct lease rate remained stable at $17.00 per SF. There are no new Office projects underway in Palm Beach County.

•Largest Office leases were signed in Boca Raton by Tyco Integrated Security for 72,235 and Boston Proper/Chicos for 65,000 SF.

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FL - South Florida

CBSA


Pompano Beach, FL

5,126 5,566,404 2,128,471 $57,415 2,069,525 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1973 SW Savage Blvd Port St Lucie, FL 34953(772) 359-3242

CONTACT

•Tradition Center for Innovation has blossomed at Exit 118 of I-95 in St Lucie West. Martin Memorial’s newest medical center is open for business. Other occupants of the Center are Torrey Pines Institute for Molecular Studies and Vaccine and Gene Therapy Institute.

•CenterStar Development from NJ purchased 15 acres in St Lucie West last year and is expecting their first building permits next month.

•The market is currently in the preleasing stage for a 20,000 SF office building. The developers are planning 10,000 SF of small retail service units, including a restaurant and a community theatre. Larger office buildings and 350 upscale apartments shall follow in 2015.

•Several builders are showcasing new communities in the town of Tradition. Buyers have begun to seek out Office and Retail locations to begin new businesses. Rents are still much lower than 2005, but inventory is dwindling. The market had nearly 500,000 SF of vacant flex space in St Lucie Westand absorbed. Some of the new buildings went to foreclosure, and new owners are offering space at approximately half of former rents.

•Vacancy rates are falling in Retail, Office and Warehouse.

•Gatlin Blvd will be the most heavily travelled road in Port St Lucie by 2020.

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FL - Southeast

CBSA


Pompano Beach, FL

5,126 5,566,404 2,128,471 57,415 2,069,525 6.00%

SquareMiles





26

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHartung & Noblin, Inc.

Vacancy


Absorption

Rental Rates


3303 Thomasville Rd. Tallahassee, FL 32308(850) 386-6160

CONTACT

•Four major new tenants opened stores in Q4 of 2013: Whole Foods, Trader Joes, Dick’s Sporting Goods and Bass Pro Shops.

•Vacancy rates are decreasing in all asset classes except the Office market.

•New construction is still brisk in student Multi-Family.

•Tallahassee Memorial hospital completed a new Emergency Center in NE Tallahassee.

•Residential sales were up 24% in 2013. Average sale price improved over 2012 from $188,619 to $193,198 in 2013.

•Sales of commercial buildings were up considerably in 2013. Construction of Cascades Park is well underway near downtown.

•The Tallahassee MSA unemployment rate is now down to 5.3%.

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FL - Tallahassee

CBSA

Tallahassee, FL

2,387 361,765 154,494 $47,364 111,973 5.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


5010 W Kennedy Blvd., 2nd FL Tampa, FL 33609(813) 286-2964

CONTACT

•Amazon.com selected two sites in the Tampa Bay area for large fulfillment centers. Combined, they are expected to employ 1,400 permanent employees and considerably more during peak times.

•The Tampa Bay economy continues to expand, and both Hillsborough and Pinellas counties saw their jobless rates fall to 5.7 percent at the end of 2013, two full points less than 12 months prior.

•Copa Airlines began the first-ever direct flights to Latin America (Panama City, Panama) from Tampa International Airport. The move opens doors for increased business opportunities throughout Central and South America.

•Tampa-based HealthPlan Services, a leading administrative services provider, plans to create up to 1,023 new jobs by 2018 and will develop a 96,689 SF facility in eastern Hillsborough County.

•Bristol-Myers Squibb will open a 70,000 SF North American Capability Center in Hillsborough County in 2014, creating up to 579 jobs and $21.2 million in capital investment.

•The broad base of job growth is quite promising, including key sectors like Construction and Hospitality. Pinellas County had another record-setting year for tourism. Clearly, the local economy has gained its footing.

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FL - Tampa Bay

CBSA

Tampa- St. Petersburg- Clearwater,

FL

2,554 2,757,566 1,166,605 $49,596 1,059,081 5.90%

SquareMiles





Amazon.com

27

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialEd Schlitt, Realtors

Vacancy


Absorption

Rental Rates


1950 US Hwy 1 Vero Beach, FL 32960(772) 567-1181

CONTACT

•New Publix Center opened on Indian River Blvd and 53rd St.

•Most REO’s have been liquidated by lenders.

•Lots of activity in approved single family development sites.

•Office space is being absorbed by users.

•Unemployment rate is declining.

•Apartment vacancy is low.

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FL - Vero Beach

CBSA

Sebastian- Vero Beach,

FL

503 135,534 59,807 62,271 43,595 7.10%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialUpchurch Realty

Vacancy


Absorption

Rental Rates

www.upchurchrealtycommercial.com

2405 W. Broad St. Suite 150 Athens, GA 30606(706) 354-7870

CONTACT

•The Athens area is experiencing tremendous growth in the Medical Office sector with several hundred thousand SF of space being constructed or slated to be developed in the next 18 months.

•The 444,000 SF, $76 million Epps Bridge Centre is complete and has just leased one of the few remaining spaces to Best Buy as Oconee County continues to show incredible growth.

•On the north side of Athens, the 150,000 SF Kroger center is expected to be complete late summer.

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GA - Athens

CBSA

Athens- Clarke

County, GA

1,031 193,495 77,486 $40,278 60,760 5.20%

SquareMiles




www.upchurchrealtycommercial.com

28

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMetro Brokers

Vacancy


Absorption

Rental Rates

www.cbcmetrobrokers.com

3575 Piedmont Rd NE Building 15 Suite 950 Atlanta, GA 30305(678) 320-4800

CONTACT

•In Q4 2013, State Farm Insurance occupied 476,692 SF of Office space in the N Fulton/Forsyth County Submarket.

•The Atlanta Office market ended Q4 2013 with a vacancy rate of 17.7%. This rate represents a decrease from the previous Qtr rate of 18.2%.

•During Q4 2013, offices were constructed including Cox Communications at 578,000 SF and Ponce City Market at 487,034 SF. Currently there is 2,002,654 SF of new Office projects under construction (12 buildings), an increase from this same time last year.

•At the close of Q4, an overall net absorption of 1,175,006 SF was reported. Leasing activity was over 3.2 million SF for the fourth Qtr, up from the previous Qtr.

•The current overall quoted Atlanta Office rental rate of $19.61 PSF represented a $0.24 PSF increase in rental rates from the end of the previous Qtr, when rents were $19.37 PSF.

•The Atlanta 28-County Metropolitan Statistical Area currently boasts a population of more than 5.5 million, making it the 9th largest MSA in the US. It covers 8,376 square miles with 146 cities.

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GA - Atlanta MSA

CBSA

Atlanta- Sandy

Springs- Marietta, GA

8,376 5,521,582 2,028,400 $60,590 2,223,339 6.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


37 Johnson Ferry Rd Marietta, GA 30068(404) 705-1590

CONTACT

•Atlanta Braves will get a new stadium for the 2017 season at the cost of $672 million. The location will be in suburbia Cobb County (Cumberland Area) north of Atlanta.

•The Atlanta Apartment market has been slow except for the Vinings area and the high end communities inside the Perimeter (Interstate 285).

•Largest Industrial lease in 2013 was 1,118,538 SF signed by Home Depot in the south Atlanta market

•Atlanta’s Office vacancy decreased to 15.0%. Cap rates are lower in 2013, averaging 7.9%. 2012 averaged 8.68%. Activity is strongest in the Atlanta sub-markets.

•Atlanta Retail vacancy decreased to 9.2% Total sales for 2013 were up and over a billion dollars. Cap rates are up to almost 9% from 8.5%.

•Activity is up, and the area remains cautiously optimistic.

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GA - Atlanta, Greater MSA

CBSA

Atlanta- Sandy


8,376 5,521,582 2,028,400 60,590 2,223,339 6.80%

SquareMiles



www.cbcmetrobrokers.com


29

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialEberhardt and Barry

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercialeb.com

990 riverside drive Macon, GA 31201(478) 746-8171

CONTACT

•Georgia’s first Charter School is slated to move into the former GE Monogram Retail Services Building with 300,000 SF of space on 70 acres.

•As the exports increase at the Georgia Port, large manufacturing and distribution space is rapidly being occupied to support the effort.

•The Luce Heart Center addition to the Medical Center of central Georgia makes it the largest healing center in the south.

•The Robins Air Force Base near Macon is still growing its mission, and because of that, single family residential is on the rise.

•Multi-Family development is the most visible new development in the area with over one thousand units coming on-line this spring.

•Macon Georgia is home to the “mound-builder” native Indians. it is also home to the Allman Brothers Band.

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GA - Macon, Bibb County

CBSA

Macon, GA 1,725 232,119 89,721 $47,145 83,398 7.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBullard

Vacancy


Absorption

Rental Rates

www.cbcbullard.net

201 Prime Point Peachtree City, GA 30269(770) 632-1774

CONTACT

•Industrial and Office markets remain relatively flat with little new development.

•Good professional Office space options are available with an average of 14,300 SF in a primary office park.

•Vacancy is flat or slightly rising with challenging economic growth for small business segment.

•World class Pinewood Studios opened in January 14 and will fuel significant growth in the market.

•Overall, economic depression remains a drag on new development.

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GA - Peachtree City

CBSA

Atlanta- Sandy


8,376 5,521,582 2,028,400 60,590 2,223,339 6.80%

SquareMiles



www.coldwellbankercommercialeb.com

www.cbcbullard.net

30

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPlatinum Partners

Vacancy


Absorption

Rental Rates

www.cbcplatinum.com

128 Habersham St. Savannah, GA 31401(888) 232-7120

CONTACT

•Georgia Ports Authority (GPA) is the 4th largest container and fastest growing U.S. container Port. GPA is the 2nd busiest export facility in the U.S. achieving 8% growth in Fiscal Year 2014 and moving 14.36 Million tons of cargo, up from 13.3 Million tons over previous Fiscal Year.

•Nordic Cold Storage blasts into Savannah opening a $30M facility; phase I employs 150 with phase II plans to mirror existing infrastructure.

•Gulfstream Aerospace continues to announce growth in both Savannah and Brunswick facilities. It presently has exceeded the projected 2,500 employee increase, originally planned over 5 years.

•Tourism welcomed 12 million visitors; direct spending increased by $160M over the previous year. Three new Hospitality sites broke ground in 2013 and are due to be completed in Q1 2014.

•Ben Carter Properties and Tanger Outlets announced/broke ground to develop 560,000 SF of high end Retail and restaurants at the SW quadrant of I-95 and Pooler Parkway, which also connects to I-16. Projected opening is Fall 2014. The site can accommodate an additional 560,000 SF of stores and restaurants.

•Health care services remain strong with 3 hospitals in area and 2 of the largest ones announced expansion plans in 2013.

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GA - Savannah

CBSA

Savannah, GA 1,359 361,941 130,609 $55,567 129,296 6.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcpacific.com

737 Bishop St. Suite 2000 Honolulu, HI 96813(808) 526-0896

CONTACT

•Hawaii’s economy remains healthy with unemployment at 3.8%.

•General Growth Properties broke ground on its Ala Moana shopping center expansion, adding 340,000 GLA at a projected cost of $573 million dollars.

•DeBartolo Development initiates its ground breaking blessing for its new $350 million dollar regional shopping center Ka Makana Alii.

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HI - Honolulu

CBSA

Honolulu, HI 600 910,677 311,782 $67,192 365,718 3.80%

SquareMiles



www.cbcplatinum.com

www.cbcpacific.com

31

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchneidmiller Realty

Vacancy


Absorption

Rental Rates

www.cbcsr.com

2000 Northwest Blvd. Suite 200 Coeur d’Alene, ID 83814(208) 664-1461

CONTACT

•Spring Hill Suites by Marriott and a Winco completed construction and opened in the spring of 2013.

•Vacancy has fallen, but not dramatically. Rental rates remain stable, but with the amount of inventory, they will rise as vacancy continues to decrease.

•There were pockets of new construction. Most was in the Medical Office sector or in very specific areas.

•The Residential market showed significant improvements with higher median price, lowered days on market, and new construction on the rise.

•Investors and companies from primary markets and secondary markets are looking for higher returns, and the market is seeing the return of investors.

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ID - Kootenai County

CBSA

Coeur d’Alene, ID

1,245 140,628 53,154 50,618 49,226 6.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHeart of America Realtors

Vacancy


Absorption

Rental Rates

www.cbhoacommercial.com

802 S. Eldorado Rd. Bloomington, IL 61704(309) 662-3377

CONTACT

•Overall, markets were steady through 2013 in major sectors. Recovery with uncertainty is present.

•Local housing market is up 15%.

•Retail: Upbeat through Q3 and Q4. Rates are level, with 10% vacancy.

•Office: Strong start then activity leveled off, settling at 15% vacancy.

•Industrial: Slow sector with few transactions and 20% vacancy.

•There are few quality investment property opportunities. Apartment vacancies up.

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IL - Bloomington/Normal

CBSA

Bloomington- Normal, IL

1,184 168,918 70,687 $59,825 69,980 7.10%

SquareMiles



www.cbcsr.com

www.cbhoacommercial.com

32

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialDevonshire Realty

Vacancy


Absorption

Rental Rates

www.cbcdr.com

201 W. Springfield 11th Floor Champaign, IL 61820(217) 352-7712

CONTACT

•Interest in Retail redevelopment along the South Neil Street corridor is spurring new activity in several sites including the 17 acre Carriage Center site and the 10 acre WDWS site at Neil & Windsor.

•Yahoo! has been granted incentives by the City of Champaign to lease a new office being built-to-suit in the University of Illinois Research Park.

•Several new student housing developments are underway in Campustown.

•The City of Champaign has granted incentives to a developer to help renovate and back-fill one of the last remaining vacant big box spaces.

•Work has begun at the University of Illinois’ State Farm Center. The multi-phase project is expected to cost $160 million to upgrade the 50 year old sport and entertainment venue.

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IL - Champaign/Urbana

CBSA

Champaign- Urbana, IL

1,923 227,494 97,325 $47,851 80,156 8.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcnrtchicago.com

2215 Sanders Rd. Northbrook, IL 60062(847) 313-6500

CONTACT

•The Chicago Office market continued to improve. There was 2.6 million SF of positive absorption in 2013, and the vacancy rate dropped to 14.3%. Three of the largest leases signed were Go Go, Inc. for 234,000 SF, Zebra Technologies for 233,000 SF and McDermott Will and Emery for 232,000 SF.

•The vacancy rate for Industrial properties dropped to 8.7% with over 14M SF of positive absorption. Retail had positive absorption for the year; however, in the 4th Qtr absorption was negative 3.5M SF. The negative absorption was due to Dominick’s Foods closing in Chicago and vacating 4.5 M SF.

•There was 2.3M SF of new Retail space built in 2013 with another 1.6M SF under construction. 840,000 SF of Office space was built in 2013 with another 1.5M SF under construction. 3.2M SF of Industrial space was built in 2013 with another 5M SF under construction.

•The residential market continues to improve. There is more demand than there is supply of single family homes and prices are rising. The Apartment market continues to be strong but rents have leveled off due to a large supply of new product having been delivered to the market.

•All commercial property types continue to show improvement. There is more new construction to meet demand, property values continue to increase and cap rates are decreasing for most property types.

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IL - Chicagoland

CBSA

Chicago Naperville Joliet, IL-

IN- WI

7,212 9,617,804 3,484,370 $66,775 4,186,171 8.20%

SquareMiles



www.cbcdr.com


33

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1225 W. 22nd St. Suite 130 Oak Brook, IL 60523(630) 954-4600

CONTACT

•Data centers are pushing demand in urban corridors.

•Vacancy remains low for Multi-Family.

•Assisted Living Centers are making a comeback.

•New Luxury Apartments continue to break ground.

•Vacant Retail Centers are showing gains with new tenants.

•Restaurant that serve steak, seafood and craft beer are seeing the most growth.

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IL - DuPage County

CBSA

Chicago Naperville Joliet, IL-

IN- WI

7,212 9,617,804 3,484,370 $66,775 4,186,171 8.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHonig-Bell

Vacancy


Absorption

Rental Rates

www.cbchb.com

113 N. Main St. Morton, IL 61550(309) 263-7400

CONTACT

•Industrial and Distribution continues to be strong in the region with the I-55/I-74 corridor providing ample shipping and receiving traffic.

•As Industrial stays steady, independent Medical continues to decline as individuals and small groups recede back into large Hospital groups. Class A Office has experienced growth as has Retail in both the downtown and north Peoria District.

•Monsanto Companies expanded a second location in Tazewell County with a 100,000 SF facility built-to-suit. National Retailers and Restaurant have signed heavily in the East Peoria sector. Morton, IL is reviewing its first PUD, and Peoria has landed several new national retailers.

•Residential inventory reduced and prices increased. Forecasts for 2014 are positive.

•A Louisville Slugger 120,000 SF indoor baseball facility proposed for North Peoria could bring a substantial amount of business into the area, potentially catalyzing Retail and Restaurant growth for the region.

•As the home of Caterpillar headquarters, alongside three major hospitals and a fresh Warehouse district, the Central Illinois market is well positioned for a strong rebound.

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IL - Tazewell County

CBSA

Peoria, IL 2,470 377,630 153,377 60,133 157,932 9.20%

SquareMiles




www.cbchb.com

34

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialRealty Services

Vacancy


Absorption

Rental Rates

www.cbcrs.com

8888 Keystone Crossing Suite 120 Indianapolis, IN 46240(317) 249-9000

CONTACT

•Office vacancies decreased slightly through Q3 and Q4 of 2013, down to 9.0%, with most of the occupancy growth in the suburbs.

•The Industrial market saw the completion of 795,000 SF of new space in the second half of 2013. The net absorption rate increased to offset the new space and keep the overall vacancy rate essentially unchanged at 6.8%.

•The Retail sector is continuing to strengthen. Rental rates increased slightly while overall vacancy rates essentially were unchanged at 7.4%.

•Multi-Family continues its growth in central Indiana with more than 2,600 units under construction. 1,900 units are expected to come into the market in 2014, but vacancy rates are not forecasted to be affected by the new supply. Downtown vacancy rates are at a 12-year low of 3.5%.

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IN - Indianapolis

CBSA

Indianapolis, IN

3,863 1,755,394 690,844 $60,003 787,836 5.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialThe Real Estate Shoppe, Inc.

Vacancy


Absorption

Rental Rates


1135 College Dr. Suite E Garden City, KS 67846(620) 275-7421

CONTACT

•Shopping center construction is underway.

•This market is aggressive in all property sectors.

•More Apartment construction is needed.

•Available properties are low in number and need major development.

•The market is agricultural based and strong, along with having a strong Retail market

•This market is the Retail and oil and gas center of Southwest KS.

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KS - Garden City

CBSA

Garden City, KS

1,302 42,609 13,697 $43,008 13,558 4.30%

SquareMiles



www.cbcrs.com


35

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFishman & Company

Vacancy


Absorption

Rental Rates

www.cbcfishman.com

10985 Cody, Suite 220 Overland Park, KS 66210(913) 782-9000

CONTACT

•Private employment is up with the highest growth of 7.15 in Leisure and Hospitality.

•60% of the Retail growth for next year is expected to be for restaurants.

•Apartment construction is expected to be the most since 2001.

•Several Retail projects have been slowed by the economy and are not under construction.

•Cerner continues to be a major player in the Kansas City area growth.

•Residential projects are now returning to all areas of the Metro.

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KS - Kansas City Metro Area

CBSA

Kansas City, MO-KS

7,857 2,076,653 819,900 $60,301 914,989 5.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcMahan Co.

Vacancy


Absorption

Rental Rates


10600 Timberwood Circle Suite 7 Louisville, KY 40223(502) 425-8800

CONTACT

•Louisville employment continues its upswing, driven by investment (Ford: $1.2 billion; GE: $800 million) and jobs created by UPS National Airhub, YUM! brands, medical industry (Humana and University of Louisville Nucleus Innovation Park) and Amazon.com. Forbes rates Louisville housing extremely high for stability.

•Louisville Multi-Family remains strong, benefiting from employment gains. Occupancy is high, and rents are up. Investment interest is high, with demand exceeding supply in desired product, whether A, B or C property, stable or value-add. Cap rates are much higher than the west or east coast.

•Louisville Retail continues to recover as the national economy rebounds. In 2013, Cabela’s, Nordstrom Rack, H & M, and a new Cinemark Theatre opened.

•Louisville Industrial is leading the recovery with net absorption of more than 2 million SF in 2013. Ecommerce distribution, shipping of temperature-sensitive pharmaceuticals, and supplying the two Ford plants have helped drive vacancy below 6%. Developers are building spec buildings.

•Louisville Office market has stabilized and has begun to improve, but occupancy is uneven; for Class A, 9.3% in the suburbs, and 14.7% downtown. Class B is 14.6% overall.

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KY - Louisville Metro

CBSA

Louisville Jefferson

County, KY-IN

4,135 1,263,217 506,857 $54,741 549,941 6.80%

SquareMiles



www.cbcfishman.com


Amazon.com

36

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPurchase Realty Group

Vacancy


Absorption

Rental Rates

www.cbcpaducah.com

3906 Hinkleville Rd. Paducah, KY 42001(270) 444-7444

CONTACT

•General Electric as Global Laser Enrichment have committed to over $1 billion investment to create a state-of-the-art Laser Enrichment Technology at the local DOE site, creating thousands of construction jobs and hundreds of permanent jobs.

•Whitehall Industries is slated to develop an aluminum extrusion manufacturing company creating 150 jobs.

•Colorado based Tele Tech Holdings announced 450 jobs in new customer service call center.

•Ohio River Triple Rail megasite was announced.

•Macco Organiques announced expansion into Paducah market with pharmaceuticals

•Overall Retail and Office space are flat. Industrial is active. Multi-Family has activity with new construction.

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KY - Paducah/McCracken County

CBSA

Paducah, KY-IL

1,057 98,841 42,059 45,006 48,915 8.10%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLegacy Real Estate Group

Vacancy


Absorption

Rental Rates

www.cbclegacy.com

2435 Fitzgerald Industral Dr. Suite 102 Bowling Green, KY 42104(270) 781-3844

CONTACT

•New Dick’s Sporting Goods, Kirkland’s and Pet Smart opening adjacent to Home Depot and Meijer’s.

•German-based Bilstein Group to establish a production plant in South Central Kentucky.

•Hyatt Place opening new property in downtown Bowling Green.

•National Corvette Museum $20,000,000 Dual Motor Sports Track to open in August 2014.

•Residential new construction is on the rise with thriving local economy.

•Residential sales are up which is causing prices to rise.

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KY - Southern

CBSA

Bowling Green, KY

848 121,646 50,840 $46,805 50,727 6.20%

SquareMiles



www.cbcpaducah.com

www.cbclegacy.com

37

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPelican Real Estate

Vacancy


Absorption

Rental Rates

www.cbcpelican.com

806 E St.Mary Blvd. Lafayette, LA 70503(337) 233-9541

CONTACT

•The commercial real estate market ended 2013 much like it began, on an upswing and another record setting year.

•Industrial sector still leads the way with very little existing inventory, and Industrial developments have more pre-sold build projects. Builders are still confident with speculative builds.

•Both existing Hospitality and Multi-Family are typically sold prior to being exposed to the market. New developments are being planned for 2014 with some currently under construction.

•Retail and Office sectors have both remained stable and continue to absorb existing inventory because of lack of new product available.

•Residential sales in 2013 were $100 million dollars above the previous record, and the market has not suffered from price reductions during the previous 5 years.

•The market will continue to be driven by the oil and gas industry along with a strong medical base. The tourist industry in South Louisiana has always been strong, and over the years many of those visitors have chosen to live here because of the quality of life.

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LA - Acadiana

CBSA

Lafayette, LA 1,010 264,966 101,487 $54,248 139,997 3.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialTEC Realtors

Vacancy


Absorption

Rental Rates

www.cbctec.com

701 Loyola Ave. Suite 401 New Orleans, LA 70150(504) 566-1777

CONTACT

•International Shipholding Corporation returning to New Orleans after relocating to Mobile, AL for eight years following Hurricane Katrina.

•Mixed-Use developments in the New Orleans CBD are at a twenty year high and fueling an increase in rental rates and occupancy rates in Multi-Family, Office and Retail segments of Orleans Parish.

•Mid-City Market, a regional grocery anchored shopping center, opened late last year with more than 90% occupancy and is located near the 424 bed teaching hospital currently under construction.

•Residential inventory is experiencing the lowest supply in 15 years.

•Port is expanding closer to the mouth of the Mississippi River with plans to provide expanded Bulk Cargo services further downstream.

•New Orleans International Airport is building a world class $826 Million terminal at the north end of its air field.

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LA - New Orleans

CBSA

New Orleans- Metairie-

Kenner, LA

3,153 1,230,886 469,474 $58,413 458,428 4.70%

SquareMiles



www.cbcpelican.com

St.Mary

www.cbctec.com

38

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSoundVest Properties

Vacancy


Absorption

Rental Rates

www.soundvest.com

147 Park St. Rockland, ME 04841(207) 596-7478

CONTACT

•Retail development is on the rise with the recent opening of a Super Wal-Mart and Tractor Supply.

•Vacancy rates for Retail and Industrial properties continue to be less than 2.5%.

•There are four medium Retail and Industrial projects being planned for 2014.

•Residential sales of existing homes are up 3%.

•Expecting to see continued migration of businesses and people into the area over the next year or two.

•Midcoast Maine continues to draw media attention due to the nationally known festivals, lifestyle and oceanfront location.

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ME - Midcoast

CBSA

Rockland, ME 366 40,753 23,744 $52,132 15,971 6.10%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFisher Group

Vacancy


Absorption

Rental Rates

www.cbcfishergroup.com

1961 Premier Drive, Ste. 404 Mankato, MN 56001(507) 625-4715

CONTACT

•New construction for Multi-family developments continues to be strong.

•Warehouse space is in high demand in the Industrial market.

•Mixed-Use space downtown has been redeveloped.

•There is a steady demand for student housing as university enrollment increases.

•National retailers continue to show interest in the area.

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MN - Mankato

CBSA

Mankato- North

Mankato, MN

1,205 93,650 39,391 $51,381 49,122 3.60%

SquareMiles



www.soundvest.com

www.cbcfishergroup.com

39

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialGriffin Companies

Vacancy


Absorption

Rental Rates

www.cbcgriffin.com

1221 Nicollet Ave. S. Suite 300 Minneapolis, MN 55403(612) 904-7833

CONTACT

•Downtown West: Mayo Clinic, Minnesota Timberwolves and Minnesota Lynx announced partnership that will revive Block E in downtown Minneapolis. Plans for a sports medicine and practice facility will cover nearly half of $50 million needed to revive the 213,000 SF Block E building in downtown.

•Downtown East: Wells Fargo & Co. signed an agreement to purchase from developer Ryan Cos. a pair of 18-story Office towers, totaling 1.1 million SF, as part of the planned $400 million Downtown East development near the new Vikings stadium in Minneapolis.

•Apartment: Demand is high – Q4 2013 saw 1,315 Units constructed, 1,003 Units absorbed - and rents continue to rise. Vacancy rates across the metro fell slightly to 2.5 percent from 2.7 percent last year.

•Investment: An affiliate of JP Morgan purchased 3 Industrial Warehouse buildings totaling 470,000 SF in Shakopee and Savage for $32.5 million.

•Office Renovation: TransWestern purchased 276,000 SF Minnesota Center in Bloomington. Significant capital will be invested to increase the property’s occupancy above 75%.

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MN - Minneapolis Metro

CBSA

Minneapolis- St. Paul-

Bloomington, MN-WI

6,063 3,286,547 1,267,913 $71,301 1,695,892 4.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlfonso Realty, LLC

Vacancy


Absorption

Rental Rates


625 Courthouse Rd. Gulfport, MS 39507(228) 596-4471

CONTACT

•New Minor League Baseball stadium broke ground.

•Expansion of many casinos.

•New Casinos have been approved.

•New Commercial construction is on the rise.

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MS - Gulfport/Biloxi

CBSA

Gulfport- Biloxi, MS

1,503 240,010 94,854 $53,669 86,844 6.90%

SquareMiles



www.cbcgriffin.com


40

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialGeneral Properties

Vacancy


Absorption

Rental Rates

www.cbcstjoseph.com

2700 N. Belt Hwy. St. Joseph, MO 64506(816) 364-2700

CONTACT

•St. Joseph is located just 35 minutes north of the Kansas City International Airport with access to I-29, a major north-south Interstate Highway, providing a corridor between Mexico and Canada and US Hwy 36, a major east-west route thru Northern Missouri.

•This market is located in the heart of the Life Sciences Industry with 5 of the major companies located here.

•Boehringer Ingelheim Vetmedica is still expanding and building a 260,000 SF distribution center.

•The new Eastowne Business Park is complete and offering excellent Industrial building sites. A 50,000 SF shell building was completed and is available for immediate occupancy.

•Rosecrans Memorial Airport, which serves civilian and military needs, is located 3 miles west of the city. It boasts ILS and GPS approach runways and provides capacity for any size aircraft.

•St. Joseph is served by the Union Pacific Railway and the Burlington Northern-Santa Fe Railway to provide direct access to all parts of North America.

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MO - St. Joseph

CBSA

St. Joseph, MO-KS

1,661 127,090 51,821 $44,333 48,146 4.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialThompson Realty Group

Vacancy


Absorption

Rental Rates

www.cbcthompson.com

620 N 48th St. Suite 101 Lincoln, NE 68504(402) 421-7700

CONTACT

•The new arena is bringing concert goers and basketball fans to downtown Lincoln.

•42 new restaurants were opened in 2013.

•46% of the new restaurants opened in 2013 were national chains.

•Residential sector needs more development to keep up with growth demands.

•Major intersections and areas are being redeveloped for higher paying tenants.

•IBM purchased Kenexa, bolstering Lincoln’s employment.

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NE - Lincoln

CBSA

Lincoln, NE 1,414 299,958 126,751 $55,280 142,514 3.10%

SquareMiles



www.cbcstjoseph.com

www.cbcthompson.com

41

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialClay & Associates, Inc

Vacancy


Absorption

Rental Rates

www.cbcreno.com

5011 Meadowood Circle Suite 301 Reno, NV 89502(775) 829-5900

CONTACT

•New Industrial 500,000 SF plus projects are underway in North Valleys and Tahoe Reno Industrial Center.

•Hobby Lobby, Cheesecake Factory, Floor & Décor, Chipotle and Raising Cain entered the market.

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NV - Reno/Sparks MSA

CBSA

Reno- Sparks, NV

6,606 420,676 164,527 $61,308 208,488 8.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFeist & Feist Realty Corp.

Vacancy


Absorption

Rental Rates

www.feistandfeist.com

180 Mount Airy Rd., Suite 200 Basking Ridge, NJ 07920(908) 696-1500

CONTACT

•Valeant Pharmaceuticals International Inc. leased 310,000 SF in Bridgewater.

•The Office sector saw the vacancy rate drop almost a full point in Central NJ. A major factor was pharma and medical companies taking spaces.

•The majority of new construction is Retail ranging from 6,000 to 65,000.

•The Central NJ market is starting to see more activity. There are a lot of larger medical users entering into the market as well as the return of the small start-up user.

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NJ - Central New Jersey

CBSA

NY- Northern NJ- Long

Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 6.60%

SquareMiles



www.cbcreno.com

www.feistandfeist.com

42

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


1767 Route 10 East Morris Plains, NJ 07950(973) 267-3030

CONTACT

•With so many telecommuters and such a high vacancy level of Class A Office space, there are quite a few good deals out there.

•New construction is not popular. There are many existing buildings that can be purchased for a fraction of the construction costs of a new building.

•The Residential market is hot as sellers are finally willing to sell their homes at today’s market prices.

•North Jersey is a great location with its close proximity to New York and nice suburban neighborhoods. The Commercial market is hot with many commercial tenants looking for opportunities to own at the lower prices. The market may have bottomed out and is on the rise.

•Morris County has a good demographic mix and a great labor pool of talented people. It is a great place to live and work.

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NJ - Morris County

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 6.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcnrtnewjersey.com

175 Park Ave. Madison, NJ 07940(973) 407-5480

CONTACT

•Realogy has relocated its 275,000 SF headquarters from Parsippany to 175,000 SF in Madison while retaining the same size work force.

•The slowly improving economy is beginning to reduce vacancy rates in some markets.

•There was an increase in Commercial construction projects throughout the state.

•Sales numbers and prices of single family home have increased.

•New Jersey continues to offer tax incentives for businesses that come to or agree to stay in the state.

•NJDOT has been resurfacing portions of many of NJ highways.

n p q q

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NJ - Northern

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 6.60%

SquareMiles




www.cbcnrtnewjersey.com

43

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLas Colinas

Vacancy


Absorption

Rental Rates

www.lcrealty.com

4801 Lang Ave. NE Suite 100 Albuquerque, NM 87109(505) 897-7227

CONTACT

•Presbyterian Healthcare Services will move into its new $22 million, 195,000 SF administrative headquarters in North I-25.

•Retail vacancy is down. Office vacancy is up.

•Movie & TV production in ABQ continues its hot pace.

•Residential market continues to improve in both new construction and resale of existing homes.

•Innovate ABQ to anchor “Innovation Corridor” from Old Town to Nob Hill. University of New Mexico will purchase the former First Baptist Church near Downtown. Innovate ABQ is to be a business incubator catering to startups and companies looking to commercialize technology from UNM or Sandia National.

•State of New Mexico is considering additional tax incentives to lure company relocations in addition to significant tax incentives passed in 2013.

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N/A p p n

NM - Albuquerque MSA

CBSA

Albuquerque, NM

9,288 863,887 333,497 $49,381 313,234 6.50%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPrime Properties

Vacancy


Absorption

Rental Rates

www.coldwellbankeralbany.com

621 Columbia Street Albany, NY 12047(518) 785-9000

CONTACT

•GlobalFoundries announced a $10 billion expansion to its semiconductor manufacturing facility, located just north of Albany. The company employs 2,100 people today and expects to add another 1,000 jobs by year’s end.

•Shelter Cove, a $60 million residential/retail complex, is being developed along the historic Mohawk River, just north of Albany, by Prime Companies, the parent entity of Coldwell Banker Commercial Prime Companies. When finished, the development will feature 200 apartments and 111 single-family homes, two Office buildings and a clubhouse.

•Voters have approved a New York state constitutional amendment allowing up to seven commercially operated casinos. Investors are already “placing their bets” on where the gambling palaces might be located. Gov. Andrew Cuomo and other supporters believe the new casinos will help revive struggling upstate regions and reclaim gambling dollars being spent in other states.

•Major residential development projects for downtown Albany, Schenectady, Troy and Saratoga Springs have been announced as reverse migration to the city is taking hold.

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NY - Albany/Capital Region

CBSA

Albany- Schenectady-

Troy, NY

2,817 859,707 358,803 $58,611 351,131 5.40%

SquareMiles



www.lcrealty.com

www.coldwellbankeralbany.com

44

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMeridian

Vacancy


Absorption

Rental Rates

www.coldwellbankermeridian.com

4498 Main St., Suite 9 Buffalo, NY 14226(716) 839-6100

CONTACT

•Candy and food distributor Wythe Will Tzetzo LLC has selected Zaepfel Development for a design build of a 307,000 SF Manufacturing and Distribution facility in the Town of Tonawanda for a long term lease.

•Muller Quaker Dairy and PepsiCo, Inc. begin manufacturing operations at their 370,000 SF yogurt facility.

•Trader Joe’s opens in Amherst at Benderson’s Boulevard Consumer Square.

•Downtown Buffalo is “HOT”. New restaurants and breweries are either open or coming soon. These include: Oshun, Tappo, Big Ditch Brewery, Resurgence Brewing, Dinosaur BBQ, The Lodge, and Buffalo Iron Works.

•Cabela’s announces its first New York location on Walden Avenue across from the one million SF Walden Galleria Mall.

•Departure of HSBC from One Seneca Tower affects the Office vacancy rate in the Buffalo CBD.

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NY - Buffalo/Rochester

CBSA

Buffalo- Rochester, NY, Niagra

Falls

2,931 1,540,152 638,078 $64,205 712,415 5.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialIsland Corporate Services

Vacancy


Absorption

Rental Rates

www.cbcli.com

1601 Veterans Memorial Hwy. Suite 420 Islandia, NY 11749(631) 232-4400

CONTACT

•Industrial vacancy rate ended the year at 4.8% Island-wide, a full percentage point decrease over the start of the year.

•Office vacancy rate fell to 10.8% Island-wide, a 4/10th’s of a percent decrease over the start of the year.

•Industrial asking rental rates are up $.40 PSF over the start of the year.

•Office asking rental rates are up $.17 PSF over the start of the year.

•Largest Office lease of the year was 59,218 SF by Falconware Software, Inc. at 2 Huntington Quadrangle, Melville.

•The largest Industrial lease of year was a 111,310 SF Wal-Mart Warehouse at 230 Duffy Avenue, Hicksville, NY.

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NY - Long Island

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 6.60%

SquareMiles



www.coldwellbankermeridian.com

www.cbcli.com

45

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

1430 Broadway 9th Floor New York, NY 10018(212) 344-0300

CONTACT

•Notable Office lease signings in 2013: Morgan Stanley Smith Barney LLC 1,869,752 SF (Downtown); Citgroup Global Markets Inc. 764,718 SF (Downtown); GroupM Worldwide 515,457 SF (Downtown); CME Group, Inc. 449,000 SF (Downtown).

•The Office vacancy rate in the New York City market increased to 8.3% at the end of Qtr 4 2013.

•Net absorption for the overall New York City Office market was negative 330,529 SF in Q4 2013.

•The average quoted rate within Class A space was $57.40 at the end of Q4 2013, class-B was $48.62, and class-C rates were $43.68.

•Total Office inventory in the New York City market area amounted to 552,186,191 SF in 3,884 buildings at the end of Q4 2013.

•CAP rates have been higher in 2013, averaging 5.43% compared to the same period in 2012 when they averaged 4.7%.

p N/A N/A N/A

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p N/A N/A N/A

NY - New York

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 6.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMECA

Vacancy


Absorption

Rental Rates

www.cbcmeca.com

1815 S. Tryon St. Suite A Charlotte, NC 28203(704) 971-2000

CONTACT

•One Wells Fargo sold for $245M or $248.65/SF for 985,315 SF at a 6.67% rate.

•Large Industrial leases were 345,545 SF by Michelin, 303,188 SF by Shutterfly and 300,000 SF by Conn.

•Retail vacancy decreased to 7.4% from 8.1% to start the year with a total of 865,515 SF constructed during that time.

•Office saw vacancy decrease to 10.9% from 12.5% at the beginning of year. Large signings were BOA 408,106 SF, MetLife 275,506 SF, Charlotte School of law 243,803 SF and Wells Fargo 224,522 SF

•Market growth and employment is outpacing most other US markets.

•NBA Bobcats are changing their name back to the Hornets.

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NC - Charlotte MSA

CBSA

Charlotte, NC 3,098 1,765,472 683,991 $60,618 815,105 6.60%

SquareMiles



www.cbcalliance.com

www.cbcmeca.com

248.65/SF

46

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSun Coast Partners, LLC

Vacancy


Absorption

Rental Rates

www.cbcsuncoast.com

1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403(910) 350-1200

CONTACT

•Dick’s Sporting Goods announced a move to Mayfaire.

•New student Apartment community began construction.

•Walmart selected a new site in Porters Neck area.

•Residential housing started on the increase.

•GE continued to add jobs.

•Obamacare caused medical practices consolidation.

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NC - New Hanover County

CBSA

Wilmington, NC

1,924 357,853 151,270 50,107 126,764 7.10%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFirst Realty

Vacancy


Absorption

Rental Rates

www.cbcfirstrealty.com

2731 12th Ave. S. Fargo, ND 58106(701) 237-3369

CONTACT

•Multi-Family continues to be very strong with approximately 1,600 units under construction in 2013, and 2014 looks to be another strong year for construction.

•Vacancy rates for Multi-Family are around 3%.

•Industrial market is very strong, due in part to the strong local economy and also to the oil activity in the western portion of the North Dakota.

•New home construction continues to be very strong, and several new developments have sprung up.

•Sam’s Club is opening a 2nd store in the market this spring.

•ESPN Gameday came to Fargo, and NDSU won their third consecutive national championship in FCS. NDSU has brought a lot of attention to Fargo, and activity is picking up as a result of it.

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ND - Fargo/Moorhead

CBSA

Fargo, ND-MN

2,810 202,280 86,119 $53,008 105,993 3.00%

SquareMiles



www.cbcsuncoast.com

www.cbcfirstrealty.com

47

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialReliant Realty

Vacancy


Absorption

Rental Rates

www.cbcreliantrealty.com

1125 West 8th St. Suite 200 Cincinnati, OH 45203(513) 241-8725

CONTACT

•Kroger Co. expects to spend $120 million in 2014 to expand stores and add new locations in Greater Cincinnati, including building a new Florence Marketplace store and remodeling the store in Mount Zion.

•Bass Pro Outdoor World LLC bought nearly 22 acres of land in West Chester along Civic Centre Boulevard for more than $6.5 million on November 27th. It will build a new 150,000 SF store with a more than 10,000 SF restaurant and bowling alley on the site. Construction is set to begin in 2014.

•The University of Cincinnati Research Institute and GE Aviation announced the creation of a $100 million new collaborative research center in Evendale.

•Cincinnati Children’s Hospital Medical Center will begin construction on two projects located at the intersection of I-75 and State Route 129 in Butler County’s Liberty Township that are expected to cost a total of $162 million and be completed within the next three years.

•The Christ Hospital Health Network will break ground on a $52 million outpatient center; the 78,000 SF building located just north of Interstate 275 at 11140 Montgomery Road in Montgomery will open in spring 2015.

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OH - Cincinnati

CBSA

Cincinnati-Middletown,

OH-KY-IN

4,398 2,179,105 856,456 $58,530 932,959 6.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHocker & Associates

Vacancy


Absorption

Rental Rates

www.hocker.com

4323 Classen Blvd. Suite 100 Oklahoma City, OK 73118(405) 840-4545

CONTACT

•Continued expansion of the energy sector places constant pressure on 7,000 to 15,000 SF Industrial facilities with yard.

•Negligible amount of speculative development in the market.

•Most new construction is for build-to-suits. There are large Class A projects in the suburbs and CBD coming online soon.

•2,000 people per week are moving into the MSA.

•The market has become an interesting mix of government, aerospace, energy, agriculture and distribution with national tenants taking serious looks.

•Businesses are discovering the fabulous work force existing here with the geographic location of being in the center of the country.

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OK - Oklahoma City MSA

CBSA

Oklahoma City, OK

5,518 1,237,539 500,869 $57,129 502,994 4.80%

SquareMiles



www.cbcreliantrealty.com

www.hocker.com

48

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMountain West Real Estate

Vacancy


Absorption

Rental Rates

www.cbcre.com

2545 SW Spring St., Suite 200 Portland, OR 97219(503) 587-4777

CONTACT

•Industrial is poised to tighten as inventory shrinks due in part to the new trend of creative office and loft spaces being transformed out of functionally obsolete industrial spaces.

•The largest Industrial lease signings were by Georgia-Pacific, Bridgestone Tire and Microsoft with sizes ranging from 165,814 SF to 402,450 SF.

•The Retail market remained relatively stable with a slight decrease in vacancy to 5.3%. Two KMarts closed their doors as well as a Burlington Coat Factory. Openings included Sportsman’s Warehouse and Natural Grocers.

•Multi-Family remains the “golden child” of Commercial real estate. Though vacancy was slightly higher at 2.67%, rental rates, permits and construction increased. High quality properties garnered low 5% cap rates with stiff competition.

•The Portland Office market has seen renewed confidence within the CBD as demand for new high-quality space counter-balances the recent exodus of absorption to the outlying suburban markets.

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OR - Portland

CBSA

Portland- Vancouver- Beaverton,

OR-WA

6,684 2,261,246 878,239 $58,563 952,611 6.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMountain West Real Estate

Vacancy


Absorption

Rental Rates

www.cbcre.com

960 Liberty St. Suite 250 Salem, OR 97302(503) 587-4777

CONTACT

•Salem’s CBD continues to see activity as the former Boise Cascade site is currently under construction with high-end Apartments, Retail/Office space and a Medical building.

•The City of Salem acquired a 3-acre parcel in downtown Salem for the expansion of Riverfront Park.

•Mor Furniture has opened in the former Big Lots location in North Salem.

•The State of Oregon is aggressively working to lower its lease rates in privately-owned buildings.

•The City of Salem is considering a $70 million renovation of City Hall.

•Salem Clinic has opened a new South Salem location along Battlecreek Road at Kuebler, and Kaiser Permanente will be constructing a new facility at Keizer Station.

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OR - Salem/Keizer

CBSA

Salem, OR 1,925 399,131 148,354 $49,102 119,269 7.30%

SquareMiles



www.cbcre.com

www.cbcre.com

49

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCBH

Vacancy


Absorption

Rental Rates

www.cbhcommercial.com

1094 Second St. Pike Richboro, PA 18913(215) 357-2880

CONTACT

•Coldwell Banker Hearthside’s residential group leased 17,000 SF in Newtown, PA for a new regional sales center.

•Improving small business confidence is creating small lease space absorption.

•Leasing activity in the 1,000-3,000 SF range is improving.

p n q n

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PA/NJ - Bucks Co, PA/Hunterdon Co, NJ

CBSA

Philadelphia- Camden-

Wilmington, PA-NJ-DE

4,630 5,979,545 2,318,224 $65,847 2,533,973 6.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialTown & Country

Vacancy


Absorption

Rental Rates


651 Northern Blvd. Clarks Summit, PA 18411(570) 587-5500

CONTACT

•Geisinger Health Systems is expanding in this market.

•Mohegan Sun opened a new Hotel/Convention Center. Two new hotels are being built in the vicinity.

•Announcement of a 2M SF distribution center to be built in Luzerne County.

•Retail is expanding in this market, especially in food uses.

n q n q

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n n n n

PA - Lackawanna/Luzerne Counties

CBSA

Scranton- Wilkes-

Barre, PA

1,747 549,920 233,775 45,396 245,015 7.70%

SquareMiles



www.cbhcommercial.com


50

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcnrtpittsburgh.com

9600 Perry Hwy. Suite 200 Pittsburgh, PA 15237(412) 548-1064

CONTACT

•Major increase in Office space.

•Major increase in Multi-Family home development.

•Pittsburgh has seen a surge in demand for Office space and Multi-Family development. Most of this is due to the expansion of major businesses in the area.

q q q q

p p p p

p n n p

PA - Pittsburgh

CBSA

Pittsburgh, PA

5,280 2,355,582 991,049 $52,255 1,064,896 5.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAtlantic International, Inc.

Vacancy


Absorption

Rental Rates

www.cbcatlantic.com

3506 W. Montague Ave. Suite 200 Charleston, SC 29418(843) 744-9877

CONTACT

•Boeing continues to purchase land and expand on its presence in the Charleston area.

•There has been an increase in 1031 Exchange money.

•Increase in Residential construction is leading the way in job creation.

•Manufacturing jobs increase 2.1% from 12 months ago.

•Increase in consumer spending and job creation are pushing local economic recovery.

p n q n

q q p q

q p N/A p

SC - Charleston MSA

CBSA

Charleston- North

Charleston, SC

2,591 665,272 262,007 $57,059 253,170 5.20%

SquareMiles



www.cbcnrtpittsburgh.com

www.cbcatlantic.com

51

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialUnited, Realtors

Vacancy


Absorption

Rental Rates

www.cbccarolinas.com

1711 Gervais St. Suite 300 Columbia, SC 29201(803) 799-4663

CONTACT

•Dana Corporation moved into 152,959 SF.

•Very little new construction has caused existing inventory to be absorbed.

•511,500 SF of Industrial space is under construction.

•Housing projects for University of SC total 2,500 new beds, creating a renaissance involving Retailers, Restaurants & bars, and a strong influx of banks to the Innovista & Vista area surrounding the campus.

•Innovista in Columbia connects businesses, industry, and entrepreneurs to the myriad of resources of the University of SC to create jobs, accelerate innovation, and drive economic prosperity in the Midlands region, South Carolina, and around the world.

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SC - Columbia

CBSA

Columbia, SC 3,701 751,082 300,796 $52,689 287,817 5.50%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCaine

Vacancy


Absorption

Rental Rates

www.cbccaine.com

117 Williams St. Greenville, SC 29681(864) 250-2800

CONTACT

•SC Inland Port opened in October. This facility will initially convert 25,000 container movements annually from truck to rail.

•There has been $6.7 billion of capital investment in SC by foreign owned firms since 2011. SC ranks #1 nationally in employment by foreign owned firms. Upstate activity is anchored by BMW and Michelin.

•Cabela’s is set to open at Eastside’s Magnolia Park, site of former Greenville Mall. Adjacent tenants include Costco, Jaryd Jewelers, Rooms To Go and Firebirds.

•An +/- 800 acre site south of downtown received state certification for Industrial/Distribution anchored Mixed-Use development. It is touted by economic development agencies as one of state’s premier development sites.

•First office tenants move into the ONE Development in CBD, joining Retail tenants that include Brooks Brothers and Anthropologie.

•Recent announcements include the planned construction of 800 Apartment units and several hotels including Embassy Suites and Aloft by Starwood. Proposed convention center site announcement is imminent.

q q q q

p p p p

p q p p

SC - Greenville

CBSA

Greenville- Mauldin-

Easley, SC

2,002 644,419 263,044 $49,487 288,021 5.00%

SquareMiles



www.cbccarolinas.com

www.cbccaine.com

52

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialChicora Real Estate

Vacancy


Absorption

Rental Rates

www.cbcchicora.com

10225 North Kings Hwy. Myrtle Beach, SC 29572(843) 272-8700

CONTACT

•New Retail includes: two new Publix, three Lowes Foods and one new Walmart

•Vacancy is falling due to improved demand and lower inventory.

•Very strong new housing and Retail.

•The market has cleared out a ton of foreclosed inventory.

•There is improved consumer outlook and a steady flow of frozen retirees.

•The market is host to three new reality TV shows and strong tourism.

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SC - Myrtle Beach

CBSA

Myrtle Beach- Conway-

North Myrtle Beach, SC

1,134 266,384 110,858 43,184 112,291 7.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCaine

Vacancy


Absorption

Rental Rates

www.cbccaine.com

340 E Main St. Suite 100 Spartanburg, SC 29302(864) 342-2322

CONTACT

•City of Spartanburg starts year 2 of its successful Main St Challenge, an entrepreneurial start-up competition that will assist 3 chosen businesses. Start ups will receive $12,000 in rental assistance along with marketing, printing, accounting, etc. to help with their new business opening.

•24 new businesses opened or made major renovations in the central business district.

•Northside Initiative continues to gain momentum around the Medical School and Wofford College. A partnership with the City, Sptbg Housing Authority, Public Safety, Mary Black Foundation is lead by former Mayor and Northside Development. The vision is a thriving, diverse, Mixed-Use neighborhood.

•4 privately funded spec Industrial buildings are under construction or approved and will begin in Q1/Q2 with over 550,000 SF. This is the result of a private market recognizing the much documented shortage of Class A Industrial buildings. This is a direct result of local Economic Dev team selling to development community.

•Inland Port opened in October, extending the Port of Charleston’s reach 212 miles inland to Spartanburg County. The inland port boosts efficiency for international freight movements between the Port of Charleston and companies located across the Southeast.

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SC - Spartanburg

CBSA

Spartanburg, SC

811 288,938 114,780 46,521 107,889 5.90%

SquareMiles



www.cbcchicora.com

www.cbccaine.com

53

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLewis-Kirkeby-Hall

Vacancy


Absorption

Rental Rates


2700 West Main Street Rapid City, SD 57702(605) 343-2700

CONTACT

•Walmart adds 2nd store, Scheels is adding on, and the New Outdoor Mall is a success.

•Vacancy of retail space is minimal.

•New construction of boxes is up. Residential sector is growing.

•Shortage of inventory. Sellers are experiencing the benefit of multiple offers. Buyers must be aware of competition.

•Prices are moving up. Inventory is low.

•Retail and Medical community are doing great.

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SD - Rapid City

CBSA

Rapid City, SD 6,247 125,797 50,124 52,281 51,878 3.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHamilton & Associates

Vacancy


Absorption

Rental Rates

www.hamiltoncommercial.com

2650 Peerless Rd. Cleveland, TN 37312(423) 476-5535

CONTACT

•Tourism growth in Bradley County is the highest in TN year over year.

•Amazon and Volkswagen continue to drive job growth in the area. Volkswagen is considering expanding their plant to produce a new line of SUV’s. Two shifts are operating in the existing plant, and a third shift is possible.

•Wacker Chemie AG construction continues on pace. The new integrated site is Wacker’s first polysilicon production facility outside Germany. This billion dollar investment will further drive job growth.

•A new 300 acre Industrial site has just become available in southern McMinn County. The site has highway and railroad access. It is less than six miles from I-75.

•Plans for the new Spring Branch Industrial Park along I-75 are being finalized.

•The Cleveland/Bradley County area is home to 12 Fortune 500 companies. This market is positioned for tremendous growth in the next 5 years. Chattanooga, Hamilton County, and Bradley County governments actively support area growth initiatives.

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TN - Chattanooga Metro

CBSA

Chattanooga, TN-GA

2,089 526,490 211,265 $47,279 208,265 6.80%

SquareMiles




www.hamiltoncommercial.com

54

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialWallace & Wallace, Realtors

Vacancy


Absorption

Rental Rates

www.cbcww.com

124 N. Winston Rd. Knoxville, TN 37919(865) 690-1111

CONTACT

•Knoxville was designated a Platinum Valley Sustainable Community by TVA; it’s the first city to be so designated.

•The economy continues to improve which is causing vacancy rates for most sectors to either decline or remain steady.

•2013 saw a continued growth in Retail construction with a Kroger Marketplace being built in Oak Ridge and a new Retail center under construction in west Knoxville close to a new Kroger Marketplace.

•The Residential market continues to improve with a 15% increase of units sold for 2013 vs. 2012 for the Knoxville Metro area.

•The Commercial real estate sector continues to recover with an emphasis on high grade investment properties.

•Knoxville was ranked in “Top 10 Best Places to Retire” by Livability.com.

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TN - Knoxville - East

CBSA

Knoxville, TN 1,857 702,994 297,456 $48,362 307,125 6.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialProfessionals

Vacancy


Absorption

Rental Rates


114 Cool Springs Blvd. Franklin, TN 37067(615) 465-3737

CONTACT

•Music City Convention Center is open and operating.

•Construction of a new Baseball Stadium is underway.

•Tourism Is soaring.

•Hotel occupancy is doing well.

•Apartment development is strong.

•Medical Office expansion is underway.

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TN - Nashville MSA

CBSA

Nashville- Davidson-

Franklin, TN

5,687 1,595,554 635,077 $56,636 725,719 5.50%

SquareMiles



www.cbcww.com

Livability.com


55

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcunitedrealtors.com

2121 Sage Rd. Suite 150 Houston, TX 77056(713) 840-5000

CONTACT

•About 1.2 million SF of office space was absorbed in 2012 with companies growing and relocating to Austin.

•Since 2006, the area has added 343,832 residents, but apartment construction and single family permits haven’t come close to keeping up

•Parkway Properties, Inc now owns 2.4 million SF of Office space in downtown Austin including the iconic Frost Bank Tower.

•A Houston investment firm has purchased 22.5 acres near the Hill Country Galleria and plans to prepare the property for Retail development with an investment of $1.4 million in infrastructure.

•Forbes ranks Austin #14 in “Best Places For Business & Careers” and #2 in job growth.

•Kiplinger ranks Austin the #6 Best City to live, work, and play in because it offers a mix of professional opportunities, economic growth and lots of entertainment options.

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TX - Austin

CBSA

Austin- Round Rock,

TX

4,224 1,730,983 665,762 $57,641 622,577 4.50%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Bryan/College Station MSA population is exploding!

•Existing Office is slower to lease up, but new construction is on the rise again.

•Retail and Hospitality are very strong, especially Hotels.

•Bryan/College Station is ranked #5 by Forbes as the “Best Small Places For Business and Careers”, and #8 in job growth. Kiplinger ranks Bryan/College Station #3 in the 10 “Best Places To Live”.

•Bryan/College Station continues to be the new hub for Bio Sciences.

•Texas A&M began the $450 million renovation of Kyle Field.

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TX - Bryan/College Station

CBSA

College Station-

Bryan, TX

2,106 214,971 88,655 $39,968 60,491 4.60%

SquareMiles





56

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

255 N. Center St. Arlington, TX 76011(817) 226-0000

CONTACT

•After 18 months of construction, Sundance Square, a 35-block Office, Retail and entertainment development in downtown Fort Worth, has finished a one-acre outdoor plaza featuring two new Class A Office buildings, several new restaurants, retail shops, a multi-purpose stage, and pavilion.

•At Alliance Airport: Motorola and Google moved in.

•#1 rated housing market by Forbes.

•Wal-Mart, Motorola, and Amazon have all started investing in facilities.

•Fort Worth is #4 “Best Big City for Jobs” by Forbes.

•Fort Worth is #6 on “Fastest growing cities after the recession”.

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TX - Dallas/Ft. Worth

CBSA

Dallas-Fort Worth-

Arlington, TX

8,990 6,521,652 2,375,452 63,092 2,621,455 5.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Forbes Magazine has named Houston “America’s next great global city” and has rated it third best for future growth, #25 in “Best Places For Business & Careers”, and #7 in job growth.

•Kiplinger ranks Houston #1 of the “Best Cities to Live, Work and Play” because it offers a mix of professional opportunities, economic growth and lots of entertainment options.

•According to US Bureau of Labor Statistics, non farm employment is up 3% from last year following a gain of 4.1% over the preceding year.

•ExxonMobil plans to move to a major new campus now under development in north Houston near The Woodlands.

•BP, ConocoPhillips, and Shell Oil are on hiring sprees in the Energy Corridor while Air Liquide is planning their move from their Galleria Headquarters to new buildings under development near Memorial City.

•The Industrial market is thriving. Growth in trade through the port facilities provides a broad base of product including Warehouse/Distribution and Manufacturing space.

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TX - Houston

CBSA

Houston- Sugar Land- Baytown, TX

8,928 5,937,339 2,084,052 $65,395 2,246,860 5.50%

SquareMiles



www.cbcalliance.com


57

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialRick Canup, Realtors

Vacancy


Absorption

Rental Rates

www.cbclubbock.com

4924 S. Loop 289 Lubbock, TX 79414(806) 793-0888

CONTACT

•Jackson Dean Construction has started construction on an $18.2 million new Costco store including a 151,999 SF Warehouse and a 2,816 SF fuel facility.

•The Lubbock economic index, ramrodded by home sales and Retail activity, hit a record high in April, with early indications suggesting no sign of cooling this summer.

•Lubbock ranked among the top 20 cities for college students in the American Institute for Economic Research’s (AIER) College Destinations Index.

•Lubbock’s expansion is on solid footing as employment continues to reach new highs. Nearly all industries are adding jobs.

•Texas Tech University helped sustain nearly 15,000 jobs and contributed $1.26 billion to the economic pulse of Lubbock County, according to The Economic Impact of Texas Tech University study.

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TX - Lubbock

CBSA

Lubbock, TX 1,799 279,239 111,087 $41,203 101,281 4.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLa Mansion

Vacancy


Absorption

Rental Rates

www.cbclamansion.com

508 E. Dove Ave. McAllen, TX 78504(956) 631-1322

CONTACT

•Rio South Texas continues to be the largest border region in the entire country ultimately leading to tremendous, Industrial growth.

•The Rio Grande Valley is expected to grow by 15% in the next 4 years increasing the demand for Multi-Family facilities.

•Mexican national spending showed increases in the range of 35% and shows no signs of slowing.

•McAllen, TX ranked #1 in the Nation in long term job growth and continues to be one of the fastest growing metro areas in the Nation.

•Retail development continues at a rapid rate, attracting new concepts to the area.

•The Rio Grande Valley is ranked by Forbes as one of the Nation’s best areas for recession recovery and continues to attract investors from all parts of the country.

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TX - Rio Grande Valley

CBSA

McAllen- Edinburg-

Mission, TX

1,570 751,544 204,655 $31,886 168,988 10.40%

SquareMiles



www.cbclubbock.com

www.cbclamansion.com

58

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlamo City

Vacancy


Absorption

Rental Rates

www.cbcalamo.com

18756 Stone Oak Pkwy. Suite 202 San Antonio, TX 78259(210) 483-6250

CONTACT

•Medical facilities and Office continue to expand, Oil and Gas activities continue to rise.

•Less product is coming into the market.

•It continues to be difficult to acquire capital for speculative projects; however, capital is readily available for owner users.

•Prices, new starts, and existing home sales continue to rise.

•Changes for the better are seen across all product lines.

•Employment remains stable, job growth is modest in San Antonio, and migration to Texas remains strong.

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TX - South/Central

CBSA

San Antonio, TX

7,340 2,093,608 749,986 $52,389 730,244 5.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialArnold and Associates

Vacancy


Absorption

Rental Rates

www.cbcaaa.com

One Acadiana Ct. Beaumont, TX 77706(409) 833-5055

CONTACT

•OCI has announced a $1B investment in a new plant in southeast Texas.

•Energy Industrial growth is pushing the demand for Warehouse/Laydown Yard and Office space for contractors and suppliers to these developments and expansions.

•New Industrial construction on a large scale begins in 2014.

•Residential development remains stagnant, and house sales are relatively flat.

•There is approval and funding to deepen the ship channel in order to accept larger ships going through the Panama Canal.

•Major interstate and highway construction is underway and will be completed in 2 years.

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TX - Southeast

CBSA

Beaumont-Port Arthur,

TX

2,154 379,235 147,015 $49,974 136,945 9.00%

SquareMiles



www.cbcalamo.com

www.cbcaaa.com

59

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialJim Stewart, Realtors

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercialwaco.com

500 N. Valley Mills Dr. Waco, TX 76710(254) 776-0000

CONTACT

•Cabela’s opened their first central Texas location in Waco.

•The Waco Industrial Foundation purchased 600 acres at the SE corner of I-35 and Hwy 6.

•The NE corner of I-35 and Hwy 6 was sold to a developer.

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TX - Waco

CBSA

Waco, TX 1,042 234,783 91,531 $44,485 94,029 5.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialIntermountain

Vacancy


Absorption

Rental Rates

www.coldwellutah.com

6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121(801) 947-8300

CONTACT

•Xactware is nearly complete with their 200,000 SF space, housing 1,000 employees. Adobe’s 100 million SF campus in Lehi Utah houses 1,100 employees with future expansion planned. Walmart continues to roll out Neighborhood Market concepts. Popeye’s continues to expand. Mall expansions have been very successful.

•High levels of absorption have contributed to vacancy rates falling to healthy levels on all disciplines.

•Construction has decreased as speculative properties fill up quickly. At this continued rate, it is foreseen that construction will tick up.

•Asking rates will have upward pressure with the new product in the market. Absorption continues to outpace new product.

•With pockets of growth in Southern Salt Lake County and Northern Utah County, the blending of market boundaries will change. Office campuses, Retail development, and Flex space parks are planned or under construction.

•Utah continues to stay on top as national and international tenants and investors move into the market.

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UT - Salt Lake/Utah County

CBSA

Salt Lake City, UT

9,539 1,140,107 376,706 $66,176 567,447 3.50%

SquareMiles



www.coldwellbankercommercialwaco.com

www.coldwellutah.com

60

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialElite

Vacancy


Absorption

Rental Rates

www.cbcelite.com

1201 Central Park Blvd. Fredericksburg, VA 22401(540) 786-1402

CONTACT

•Absorption is slowing, which is eroding the vacancies in most asset classes.

•A fair amount of the Office leasing is a reshuffling of tenants rather than new business entering the market.

•New development in the area is dominated by Residential housing & new Retail (banks, gas, grocery).

•Spotsylvania Co has rezoned land for 4,000 Home sites since July 2013.

•There remains a lot of pent up demand in most sectors facing the headwinds of Obamacare and government uncertainty.

•A new minor league baseball Stadium & NASCAR Circuit Track are in development.

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VA - Fredericksburg

CBSA

Washington- Arlington-

Alexandria, DC-VA-MD

5,627 5,523,778 2,103,127 $84,548 2,492,165 4.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialRead & Co.

Vacancy


Absorption

Rental Rates

www.cbcread.com

101 Annjo Ct. Forest, VA 24551(434) 455-2285

CONTACT

•Lynchburg’s first ever Zaxby’s restaurant broke ground on a new location with plans to open several more in this market in the near future.

•Liberty University currently has nearly $500M worth of new construction underway on campus with $300M on the board to start soon. These projects total over 525,000 SF.

•The Residential sector continues to see growth with new construction on the rise for medium to high end homes while new Commercial construction remains slow.

•With Liberty University’s new construction of 6,000 on-campus student housing units, Multi-Family developers have broken ground on several projects geared towards young professionals rather than student housing.

•Several new hotels are currently under construction or have sites under contract in the Lynchburg market.

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VA - Lynchburg

CBSA

Lynchburg, VA

2,124 248,585 100,680 $46,100 96,796 5.30%

SquareMiles



www.cbcelite.com

www.cbcread.com

61

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCarriage House Realty

Vacancy


Absorption

Rental Rates

www.carriagehousesells.com

520 William St. Fredericksburg, VA 22401(540) 373-0100

CONTACT

•Many new restaurants and retail businesses have opened in the Fredericksburg, VA area.

•A new Hyatt Hotel has just been completed in the University of Mary Washington’s (UMW) Eagle Village.

•A new VRE Commuter Rail Station and a NASCAR Circuit Track is planned for Spotsylvania County and a new Minor League Baseball Stadium is planned for Fredericksburg, VA.

•Many new industrial businesses are looking at the Fredericksburg, VA for their next location.

•The Naval Surface Weapons Center at Dahlgren, VA has attracted some new contractors, a new UMW University Center and a Walmart shopping center.

•New construction of residential homes, Apartments and luxury Condos are strong.

•Commercial construction of retail convenience stores and medical facilities are beginning to take place.

•Residential rents are continuing to rise. Retail, Office and Industrial rents are remaining static.

•The market is stronger than most with an unemployment rate approx. 2% lower than the national average and unique because of the proximity to the Washington, DC market, the Marine Base and FBI Facilit at Quantico, VA and the Naval Surface Weapons Center at Dahlgren, VA.

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VA - Spotsylvania County

CBSA

Washington- Arlington-

Alexandria, DC-VA-MD

5,627 5,523,778 2,103,127 $84,548 2,492,165 4.60%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBrooks Real Estate

Vacancy


Absorption

Rental Rates

www.cbcbrooks.com

312-B Lightfoot Road Williamsburg, VA 23188(757) 229-1507

CONTACT

•At 50 feet, the Port of Virginia offers the deepest shipping channels on the U.S. East Coast, which is a significant factor for growth of the Industrial markets of Chesapeake, Suffolk, Norfolk, Portsmouth, Newport News, Hampton and Williamsburg.

•The region’s unemployment rate drops from 6.1 percent in December 2012 to 5.3 percent this past December as the labor force added several thousand workers to the work force.

•Office inventory amounted to 48 million SF as of the end of Q4 2013. Class A Office sector consists of 12 million SF.

•Residential saw a 20% increase in the number of units sold and 27% increase in the sales volume relating to a 6% appreciation in home values as well as a movement in the luxury home market.

•International profile continues to grow, hosting 164 international firms representing 28 countries.

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VA - Williamsburg/Hampton Roads MSA

CBSA

Virginia Beach-

Norfolk-Newport

News, VA-NC

2,628 1,677,195 648,009 $59,887 637,163 5.30%

SquareMiles



www.carriagehousesells.com

www.cbcbrooks.com

62

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialDanforth & Associates

Vacancy


Absorption

Rental Rates

www.cbcdanforth.com

33313 First Way South Federal Way, WA 98003(253) 874-3200

CONTACT

•Quality investment properties are in high demand. National and international investors like the strength of the Puget Sound market.

•Industrial market is expanding. Spec Warehouse projects are popping up all over the county.

•Land prices continue to increase, mainly Retail, Multi-Family and Industrial.

•The outlook is good for the overall market.

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WA - King County

CBSA

Seattle- Tacoma-

Bellevue, WA

5,894 3,433,786 1,373,207 $67,763 1,502,591 5.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialDanforth & Associates

Vacancy


Absorption

Rental Rates

www.cbcdanforth.com

33313 First Way South Federal Way, WA 98003(253) 874-3200

CONTACT

•In-city Multi-Family properties remain strong.

•Employers are expanding - but cautiously.

•Investors are returning to Industrial properties.

•There is an increase in competition among investors for good Multi-Family properties.

•In-city dirt is still affordable.

•Retail is in a quandary. Expansion is on a case by case basis.

q p n n

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WA - Seattle

CBSA

Seattle- Tacoma-

Bellevue, WA

5,894 3,433,786 1,373,207 $67,763 1,502,591 5.40%

SquareMiles



www.cbcdanforth.com

www.cbcdanforth.com

63

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialOffenbecher

Vacancy


Absorption

Rental Rates

www.offenbecher.com

929 East Main # 320 Puyallup, WA 98372(253) 840-5574

CONTACT

•Niagra acquired 30 acres in Frederickson for a large Distribution Warehouse. In Tacoma, the 300,000 SF Russel building was absorbed by State Farm.

•Absorption has been steady, primarily due to job growth and consumer confidence.

•Repurposing of big box retail was in, along with BTS for strong tenants/restaurants. Industrial returned with several BTS and even spec DC’s in the market.

•Steady growth (11% year over year) and construction activity in Residential

•Strong investment sales (NNN and Apartments) with well-priced properties with cash flow/yield.

•Strengths of the Puget Sound include Aerospace (Boeing), Tech (Amazon, Microsoft and Verizon), Healthcare (UW Medical, Franciscans and MultiCare) and the military (Joint Base Lewis McChord).

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WA - Tacoma/Puyallup

CBSA

Seattle- Tacoma-

Bellevue, WA

5,894 3,433,786 1,373,207 $67,763 1,502,591 5.40%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialJenkins & Associates

Vacancy


Absorption

Rental Rates

www.cbcorldwidenw.com

300 West 15th St. Suite 201 Vancouver, WA 98660(360) 699-4494

CONTACT

•Expectations are that 2014 will be a strong “come back” year. Activity in all sectors of the Commercial market is stronger than it’s been in the past three years.

•Clark County and Vancouver, in particular, were never overbuilt in any of the Commercial sectors. Vacant space did remain unoccupied for longer periods of time during the past economic downturn, but at levels most owners were able to handle.

•New construction continues at a steady, measured pace. That said, the majority of new construction has been supported by signed leases with strong tenants. There has been very little true speculative development.

•Residential real estate values have increased by about 12%, spurring an exceptionally strong demand for Residential land. Multi-Family construction is literally going wild, with a large share of it being on the upper end rent scale.

•The major change in this market is the return of strong optimism.

•Clark County and Vancouver have historically been the bedroom community for the Portland, Oregon metro area. That’s steadily changing in favor of Southwest Washington having its own identity. Washington does not have a state income tax, and the cost of living is less than in Oregon.

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WA - Vancouver & Southwest

CBSA

Portland- Vancouver- Beaverton,

OR-WA

6,684 2,261,246 878,239 $58,563 952,611 6.20%

SquareMiles



www.offenbecher.com

www.cbcorldwidenw.com

64

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSuccess

Vacancy


Absorption

Rental Rates

www.cbcommercialsuccess.com

7609 Elmwood Ave. Suite 102 Middleton, WI 53562(608) 662-1110

CONTACT

•Epic Systems, a Madison area health care software company, is expanding their campus with plans to increase employment from 6,000 to 10,000.

•Spectrum Brands moved into their new world headquarters.

•Apartment vacancy rates in Madison were at 2.05% in Q4 of 2013. Several new Apartment projects are coming online.

•Madison unemployment rate is at 4%, vs 4.7% the end of 2012.

•TDS Communications renewed lease for 320,000 SF in Madison.

•Recovering housing market with 22% increase of sales over 2012, increasing sale prices, decreasing foreclosures and growing new construction activity.

•SF building permits are up 50% in 2013.

•Greater Madison economy is the most stable and prosperous in the state, with the UW-Madison, state government, health care, and expanding bio-tech and info-tech communities growing at steady pace.

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WI - Madison, Greater

CBSA

Madison, WI 2,738 574,245 242,725 $65,668 281,044 4.00%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcGuire Mears & Associates

Vacancy


Absorption

Rental Rates

www.mcguiremears.com

400 Midland Ct. Suite 101 Janesville, WI 53546(608) 752-6325

CONTACT

•Lowest unemployment rate in 5 years posted during the final Qtr of 2013.

•The Residential market experienced the highest price points in the last four years.

•Retail new construction totaled 33,000 SF, and 31,000 SF of existing Retail was rehabbed. 2013 set a sales tax record with collections amounting to $10.6 million.

•There were 12 major projects in 2013- 6 were Manufacturing, 4 Logistics and 2 Medical, amounting to 399,000 SF leased or sold.

•The Residential market continues to improve, though gradually, with average prices increasing (see above). Foreclosures are declining, and upper end housing sales are beginning to come out of the doldrums.

•Multiple Family foreclosure rate dropped 48% in 2013. Price per unit grew to a healthy $39,250 per unit, up from $31,570 in 2012.

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WI - Rock County

CBSA

Janesville, WI 720 160,224 63,135 $54,346 63,044 7.00%

SquareMiles



www.cbcommercialsuccess.com

www.mcguiremears.com

65

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialThe Property Exchange

Vacancy


Absorption

Rental Rates

www.WyomingCommercialBrokers.com

255 Storey Blvd. Cheyenne, WY 82009(307) 632-6481

CONTACT

•Strong Technological, Industrial, Distribution and Manufacturing growth in Cheyenne in 2013 with continued growth expected in 2014.

•Multiple Microsoft investments are under construction in the Cheyenne area, including two new $112 million “Cloud” data centers as well as a “green” fuel cell-powered data center designed to run on biogas generated from a local water treatment plant.

•Gun manufacturing company Magpul Industries is moving to Cheyenne in 2014 and constructing a new $15 million manufacturing Warehouse in the Cheyenne Business Parkway.

•Swan Ranch Industrial Park development continues to bring regional and national oil and gas operators to the region. Industrial absorption in the area is beginning to be dominated by oil and gas.

•NCAR (National Center for Atmospheric Research) Super Computer, one of the top 20 super computers in the world, is up and running in the Cheyenne North Range Business Park

•Residential values continue to rise with overall sales and values at their highest levels since 2007. Several large Apartment and Multi-Family developments are scheduled to break ground in 2014.

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WY - Cheyenne

CBSA

Cheyenne, WY

2,686 89,439 36,986 $60,634 31,977 4.70%

SquareMiles



International Markets

www.WyomingCommercialBrokers.com

66

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialGC Property Group

Vacancy


Absorption

Rental Rates

www.cbcommercial.com.au

Shop 1, 29 Tedder Ave. Main Beach Gold Coast, Queensland 4217+61 7 5528 3088

CONTACT

•On exiting 2013, the general observations were that sentiment has improved across Commercial property sectors in general, and that there was an expectation that 2014 was going to deliver better times. If the tourist accommodation sector is another pointer, holiday makers have flocked to the Gold Coast over the current summer period with many operators reporting the best occupancies for many years.

•The light rail project has progressed to the extent that a high proportion of the infrastructure is now in place, safety fencing removed and trains are testing the line in Southport in readiness for commissioning by mid 2014. As the infrastructure has unfolded visually, there has been a corresponding sense of heightened anticipation from traders, local residents and visitors alike, plus increased interest from investors as to available commercial property opportunities along the rail route.

•2013 also saw the opening of the new $700 million University Hospital at Parkwood; the continuation of infrastructure construction for the 2018 Gold Coast Commonwealth Games; the announcement of the winning architect for the proposed $300 million City of Gold Coast’s cultural precinct design competition; and ongoing consideration of options for a possible cruise ship/casino/resort development.

•2014 has already seen Pacific Fair partially closed to enable AMP Capital to instigate their $670 million refurbishment and expansion program, which is scheduled for completion in late 2016. The facility is set to become Queensland’s biggest shopping centre at 150,000 Sq m.

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Australia - Gold Coast, Queensland

CBSA

Gold Coast, Queensland

541 592,000 196,000 $53,000 AUD

231,600 5.66%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialBermuda Realty

Vacancy


Absorption

Rental Rates

www.bermudacommercial.com

11 Par la Ville Rd. Hamilton, Bermuda HM HX+1 (441) 292-1793

CONTACT

•Bermuda has the capacity to accommodate growth in Office and Residential at the most competitive rates.

•Government policy changes have been implemented to encourage international companies to set up in Bermuda.

•Increased sales inventory and strong buyer interest from both occupiers and investors created 8 commercial property sales in 2013.

•The Rental market is showing a move to quality space at prices similar to those paid for spaces leased 5 years ago.

•The majority of leasing interest is internal, but the island is seeing an encouraging increase in external interest.

•As an island destination, foreigners often look to purchase in Bermuda. The government has recently reduced the licensing fees to 6 and 8% from 18 and 25%.

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Bermuda

CBSA

Bermuda 21 65,400 34,110 $69,183 BD

39,457 3%

SquareMiles



www.cbcommercial.com.au

www.bermudacommercial.com

67

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialThe Real Estate Centre

Vacancy


Absorption

Rental Rates

www.cbtreccommercial.com

2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7(905) 895-8615

CONTACT

•Aurora is home to the Magna International headquarters and Desjardins (previously Statefarm) national head office.

•Aurora is a highly affluent town about 20kms north of Toronto.

•New construction currently resides on the east and west side of Leslie Street.

•Resale home prices continue to rise in high demand Aurora.

•Aurora’s population is expected to reach 70,000 by 2020.

•Aurora is a twin city of Leksand, Sweden.

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Canada - Aurora, Ontario

CBSA

Aurora, Ontario

19 56,931 19,027 $157,000 CAD

27,500 1.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•IBM opened a Smart Data Centre in Barrie.

•Low tax rates and high tech employment keep vacancy low.

•The Barrie population is one of the fastest growing in Canada.

•Housing remains strong in Barrie.

•Greenspace just outside city limits was approved for development.

•Redevelopment of the downtown core continues to change the face of the city.

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Canada - Barrie, Ontario

CBSA

Barrie, Ontario

30 136,063 51,400 $67,500 CAD

97,657 4.30%

SquareMiles





68

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSlegg Realty

Vacancy


Absorption

Rental Rates


350 17th St. Courtenay, Vancouver Island V9N 1Y4(250) 898-8790

CONTACT

•British Colombia is in the midst of a construction boom.

•The $1.35 billion 5 year John Hart Dam construction project started in 2013.

•A $266 million regional hospital has been awarded by VIHA.

•Quicksilver Resources announced plans for a LNG plant at Elk Falls mill site.

•Campbell River is the recreational salmon fishing capital of North America.

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Canada - Campbell River, British Columbia

CBSA

Campbell River, BC

55 42,000 15,420 $69,342 CAD

15,240 6.20%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


350 17th St. Courtenay, Vancouver Island V 9N 1Y4(250) 898-8790

CONTACT

•A $365 million regional hospital was awarded by the VIHA.

•The 146,000 SF Costco Store (largest on Vancouver Island) opened in June 2011.

•The new Thrifty Mall opened in 2013. It provided new Retail and Office space to the market.

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Canada - Courtenay/Comox, British Columbia

CBSA

Courtenay/Comox/Comox

Regional District, BC

660 65,100 16,043 $71,347 CAD

49,140 6.50%

SquareMiles





69

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Located just outside Barrie, Innisfil is becoming a high demand community to live in.

•Innisfil’s Commercial core is being revitalized to suit new business.

•Innisfil’s new home construction is growing by about 6.1% per year.

•Cottage lakefront properties located on Lake Simcoe are in high demand.

•The market is host to large amounts of rural areas with redevelopment potential.

•Georgian Downs Harness Racetrack is located along the highway in Innisfil.

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Canada - Innisfil, Ontario

CBSA

Innisfil, Ontario

109 32,727 13,797 $71,676 CAD

12,040 4.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


#17-4980 Rutherford Rd. Nanaimo, British Columbia V9T 4Z4(866) 664-3444

CONTACT

•Target has moved into the area.

•A 100,000 SF Canadian Tire was built.

•A $50 Million 4-Star International Hotel Tower is being built. This will result in 70,000 Chinese tourists and investors visiting the city each year.

•The Residential market is on the rise.

•Over 30 businesses were sold in the last 12 months to foreign immigrants.

•A new high speed foot passenger ferry to downtown Vancouver is coming this spring.

p p p p

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Canada - Nanaimo, British Columbia

CBSA

Nanaimo, British

Columbia

91.3 102,500 41,900 $27,840 CAD

32,560 4.20%

SquareMiles





70

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Magna is still a major employer for the Newmarket area.

•Vacancy is falling due to successful local business climate.

•Rapid transit project for Davis Drive nears the halfway point.

•Residential development continues in north-west and south-east sections of the town.

•Redevelopment of Davis Drive will change the face of Newmarket.

•Newmarket is home to Southlake Regional Health Centre and Stronach Cancer Centre.

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Canada - Newmarket, Ontario

CBSA

Newmarket, Ontario

14 83,000 26,000 $96,680 CAD

66,305 1.30%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Casino Rama remains Orillia’s largest employer.

•Downtown revitalization brings new small businesses.

•The city has experienced moderate growth at rates around 1.9%.

•New homes are being constructed in the north-west section of the city.

•The Ontario provincial police headquarters remains a large public sector employer.

•Orillia is known as the “sunshine city” or “mariposa”, taking the moniker from the sunshine sketches of a little town by Stephen Leacock.

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Canada - Orillia, Ontario

CBSA

Orillia, Ontario

11 30,586 11,234 $56,951 CAD

11,324 4.30%

SquareMiles





71

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFirst Ottawa Realty, Brokerage

Vacancy


Absorption

Rental Rates

www.ottawacommercialproperties.com

1749 Woodward Dr. Ottawa, Ontario K2C 0P9(613) 728-2664

CONTACT

•Unemployment rate in National Capital Region increases for 3rd straight month. The federal government, the largest employer (25% of workforce and occupying 60% of office space in Ottawa) sheds 10,600 employees in 2013. Other contributors are Retail and Construction. This has had a substantial impact on the local market and is expected to continue into 2014.

•Office vacancy rates increased in downtown market while they decreased in the suburbs. Overall vacancy rate is at 10.7% (793,000 SF). Landlords reduced rents and increased inducements to retain and attract tenants.

•Industrial vacancy rate increased 0.1% to reach 6.1%. West Suburbs increased from 8.9% to 9.4%, while East Suburbs decreased from 4.1% to 4.0%. Overall negative absorption of 30,000 SF. Rental rates are stable.

•New 360,000 SF Class A downtown Office building at 150 Elgin Street (Morguard Investments) is leasing well, attracting tenants from Class A, B & C buildings located in core and also fringe markets. This is attracting new businesses into Ottawa as well as core at below market rates.

•Residential condo developments continue to be active and in demand. A municipal program to increase densification in older, central neighborhoods is in play. Traffic and parking may become an issue. Ottawa’s new LRT line, designed to ease congestion in and out of core, is under construction.

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Canada - Ottawa, Ontario

CBSA

Ottawa, Ontario

1,801 1,200,000 420,000 $93,280 USD

695,000 6.90%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Rapid transit via TTC is a major boost to the local economy.


•Yonge Street’s Condo Development is tremendous.

•Most new developed resides along Sefferson Sideroad and multiple Infill projects across the town.

•Most business in Richmond Hill are small businesses, with more than half of all employers in the town having four workers or fewer.

•Once considered the “rose capital of the world”, Richmond Hill has in recent years seen a huge population upsurge, being Canada’s fastest-growing community in the 1990s.

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Canada - Richmond Hill, Ontario

CBSA

Richmond Hill, Ontario

39 185,541 46,075 $84,000 CAD

95,432 3.70%

SquareMiles



www.ottawacommercialproperties.com


72

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

•Home to Canada’s Wonderland and the McMichael Art Gallery.


•Industrial development along highway 400 dominates real estate development.

•Vaughan is one of southern Ontario’s fastest growing cities. According to Canadian statistics, the population grew 37.3% in a mere four-year period (more than 9.3% annually).

•The population has doubled since 1991.

•Mackenzie Vaughan Hospital is the new hospital proposed along major Mackenzie Drive (between highway 400 and Jane Street).

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Canada - Vaughan, Ontario

CBSA

Vaughan, Ontario

105 290,000 85,000 $105,000 CAD

210,100 2.80%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


3194 Douglas Ave. Victoria, British Columbia V8Z 3K6(250) 383-1500

CONTACT

•Provincial (State) capital has been providing large number of government employees and profits from their spending.

•BC is home to three universities.

•Esquimalt Naval Base houses Canada’ Pacific Fleet.

•The above 3 facts provide economic stability, high employment & high incomes.

•Seaspan Shipyards recently won a large government shipbuilding contract in British Columbia.

•There is an increasing number of Multi-Family buyers entering market from offshore.

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Canada - Victoria/Capital Regional, BC

CBSA

Victoria/Capital

Regional District, BC

904 360,000 153,300 $79,350 CAD

183,700 5.20%

SquareMiles





73

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPeter Benninger Realty, Brokerage

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercial.ca

508 Riverbend Dr. Kitchener, Ontario N2K 3S2(519) 743-5211

CONTACT

•In December, BlackBerry announced the sale of five office buildings in Waterloo to the University of Waterloo in a $41-million deal that is scheduled to close Feb. 14. U of W plans to occupy three of the buildings and lease back the other two to BlackBerry for a period of up to five years.

•The BlackBerry portfolio in Canada has now been brought to market. This includes 13 buildings in Waterloo and 2 in Cambridge, totaling more than 3 million SF of space opening up opportunity for many companies in the region looking for Class A space. “BlackBerry remains committed to being headquartered in Waterloo,” CEO John Chen said in the news release and plans to lease back some of the space.

•Development has begun along the rail lines in preparation for Light Rail Transit in Waterloo Region. Properties have been purchased, buildings are being removed, and stations are under construction. Construction could begin this summer on a 19km stretch of track that is part of stage 1 of the plan.

•Aeryon Labs Inc announced a new office location and expansion for the second time in two years, now occupying 40,000 SF of Office and Manufacturing space in Waterloo. The move is a result of significant growth that the company has realized in the last few years. The company is a provider of the small Unmanned Aerial System (sUAS) to civil and military customers and other commercial business partners around the globe. John Hoffman, sales representative, Coldwell Banker Peter Benninger Realty, represented the Landlord.

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Canada - Waterloo Region, Ontario

CBSA

Waterloo Region, Ontario

528 553,000 202,121 $79,020 CAD

296,700 7%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPreferred

Vacancy


Absorption

Rental Rates

www.coldwellbanker-winnipeg.com

5-1530 Taylor Ave. Winnipeg, Manitoba R23N 1Y1(204) 985-4300

CONTACT

•CentrePort Transportation hub is located near the geographical center of Canada and the US.

•Immigration is putting pressure on all areas.

•New major tenants include: Ikea, Cabela’s and Facebook.

•Cheap electricity rates are a major draw for manufacturing.

•The Canadian Museum of Human Rights is set to open in 2014.

•Major expansion is occurring at the Winnipeg Convention Center.

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Canada - Winnipeg Area, Manitoba

CBSA

Winnipeg Area,

Manitoba

184 750,000 262,000 $47,000 CAD

350,000 5.20%

SquareMiles



www.coldwellbankercommercial.ca

www.coldwellbanker

-winnipeg.com

74

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCayman Islands Realty

Vacancy


Absorption

Rental Rates

www.caymanislandsrealty.com

1364 Bay Rd. Georgetown, Grand Cayman PO BOX 323081 345 945-4411

CONTACT

•Grand Cayman is home to the largest Office market of all the offshore financial centers in the Caribbean.

•Demand for first generation Class A Office space remains high.

•The demand for 2nd and 3rd generation Class B space softens as new developments outside of downtown Georgetown are built.

•Retail remains strong with 5.8% vacancy, which mostly exists in areas with low exposure.

•Overall Office rates have stabilized in Cayman’s 3 million SF Office market.

•Retail rents have stabilized in Grand Cayman’s 1.2 million SF Retail market.

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Cayman Islands - Grand Cayman

CBSA

Grand Cayman

75 55,000 15,000 $6,5000 USD

38,500 6%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCosta Rica

Vacancy


Absorption

Rental Rates

www.coldwellbankercostarica.com

50 Meters North of Hotel Roca Verde Dominical, Puntarenas 8000(877) 211-5275

CONTACT

•Starbucks opened its first location in Costa Rica.

•There has been a 57% Increase in gross sales volume for Coldwell Banker Costa Rica.

•GDP has grown by 5.1% in 2012.

•Free Trade Zones continue to expand, which is attracting international companies.

•Major improvements in highway and transportation continue.

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Costa Rica

CBSA

Costa Rica 19,653 4,586,353 1,300,000 $12,600 CRC

2,198,000 7.50%

SquareMiles



www.caymanislandsrealty.com

www.coldwellbankercostarica.com

75

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFrance & Monaco

Vacancy


Absorption

Rental Rates

www.coldwellbanker.fr

8 Rue Lamennais Paris, Ile de France 75008+33 01 83 53 53 53

CONTACT

•Company owners anticipate an economic growth: 2/3 of the company’s office search is linked to the economy’s improvement.

•54% of French companies take a maximum of 6 months to find their offices (against 44% in 2012). Less than 20% of French companies have a year to find their office (1/3 in 2012).

•French companies are attracted by short-term office solutions (like business centers): 1/4 of French companies follow that trend (3 times more than in 2012).

•80% of companies’ managers consider online websites for their office search.

•In Q3 2013, GNP shows a decrease of 0.1% after a 0.6 increase in Q2 2013. In 2013, unemployment rate increased to 5.7% (approx. 3 million unemployed, which impacts the Offices market).

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France

CBSA

France 674 843 km²

65,700,000 N/A N/A N/A 5.70%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHellas

Vacancy


Absorption

Rental Rates


Omirou 8 Athens, Attica 10564(+30) (210) 322-8228

CONTACT

•2013 ended with the sale/privatization of “Astir Vouliagmenis” to Jermyn Street Real Estate Fund IV LP following the improved financial offer amounting to €400 million.

•Vacancy in all types of real estate is constantly rising due to ongoing recession for a record 6th consecutive year.

•Real estate deals in Greece totalled €1.8 billion for 2013. 2013 ranks as one of the best years of late.

•The resurrection of the Residential market depends upon foreign buyers wishing to purchase vacation homes and take advantage of the new Greek residence permit law.

•A stable property taxation system has finally been established. Greece is hoping to attract overseas investments.

•Property prices have fallen as much as 50% from 2009, making Greece very attractive to investors.

p p N/A p

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Greece

CBSA

Greece 50,949 10,815,197 3,664,392 €21,888 EUR

3,793,100 24.20%

SquareMiles



www.coldwellbanker.fr


76

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialProperty Consultants

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercial.ie

32 Lower Leeson St. Dublin, Ireland 2(+ 353) (1) 411-0012

CONTACT

•Ireland exits Bailout Program with IMF and EU.

•Capital values rose for the first time since 2008.

•Annual value of transactions has doubled throughout 2012.

•Dublin sees the largest increases in values.

•Irish economic growth is predicted to top the EU.

•Finance availability has improved slightly, but remains poor.

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Ireland - Republic of Ireland

CBSA

Republic of Ireland

45,000 4,600,000 1,850,000 €33,000 EUR

2,000,000 12.50%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialS.p.A.

Vacancy


Absorption

Rental Rates

www.cbcommercial.it

Via Sardegna, 50 Rome, Italy 00187+39 06 3974.0456

CONTACT

•The sentiment of the Italian real estate market has become positive due to the fact that Italy is back on the foreign investors’ radar.

•In 2013, the Italian real estate industry, especially in Q3 and Q4, has shown a strong interest by institutional investors, mostly foreign, especially in the Retail and Hospitality sectors.

•As a result, an analysis of the Italian Real Estate investment volume has highlighted a positive trend: Q4 has more than doubled ($1.8 billion) in terms of volume compared to the first, scoring a total volume on an annual basis to $4.8 billion.

•This recovery is mainly due to an increase of Italian political and financial stability as well as an effective policy of re-pricing.

•The prime market values remain stable. The demand for quality products placed in central locations with a low risk profile remain highly valued by investors.

•The Office market in general is down and has recorded decreases in the values of prime rent. However, the supply of office space has increased again since companies are reducing the space occupied. This trend will continue as a growth of employment should occur before the end of 2014.

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Italy

CBSA

Italy 116,303 60,900,000 25,000,000 €32,650 EUR

22,750,000 12%

SquareMiles



www.coldwellbankercommercial.ie

www.cbcommercial.it

77

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMexico

Vacancy


Absorption

Rental Rates

www.cbcmexico.mx

Montes Urales 415 1 Lomas de Chapultepec Mexico, Mexico 11000(55) 4162-1000

CONTACT

•During 2013, performance of domestic demand was somewhat slow, mainly due to the economic conditions of the country, which led to a drop in consumption.

•It is estimated that in 2014, there will be a GDP growth between 3.5% and 4%, with inflation at less than 3.7%, which will help revive domestic consumption and growth for the Retail sector as in previous years.

•This year started with defined reforms. This allows companies to focus on their strategies for either expansion or reduction, by generating movements in the property market in the first quarter of the year.

•The investment performed by the government and private entities in past years on infrastructure and connectivity, along with the certainty of changes in structural reforms, leads the way for a market recovery, providing logistical and cost benefits to markets motivated by connectivity.

•According to reports from the National Association of Supermarkets and Department Stores (ANTAD), this year the market accumulated a nominal 5.2% growth in total stores, including all openings in the last 13 months.

•In the period 2014-2017, more than 1.3 million Sq m will be constructed in 42 buildings, within 10 Office submarkets.

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México - México City

CBSA

México 1,964,375 km2

119,426,000 N/A N/A 52,309,335 N/A

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialKF Real Estate

Vacancy


Absorption

Rental Rates

www.cbcommercialpr.com

530 Constitution Ave. San Juan, Puerto Rico 00901(787) 433-0077

CONTACT

•Major Retail & food industry franchises are opening shop inside the island. Their main focus has been in the central of the island and other larger cities with higher density. Consumer product purchase is high with a 10% increase from last year.

•Several large scale energy suppliers and services have been speculating sectors inside the island while making large purchases of land on the central and south end of the island.

•Hotel and Hospitality sectors have seen an increase of over 25% with new chains absorbing independent hotel owners. Financial investment and upgrades have given a positive impact to the island in these acquisitions.

•The lack of funding for Commercial structures inside the island has caused a decrease in market value as well as an increased the buyers pool of outside investors who are attracted to the high commercial rent and lower property tax.

•Foreclosure of Land and Commercial buildings are on the rise, giving investors great opportunities. Financial institutions are more open to price negotiation with their Commercial properties.

•Many of the Tax Incentives that were offered to outside inventors and over seas investors have been eliminated, but there are future legislative bills that hope to establish new Tax Incentives in and outside of the Commercial Real Estate sector.

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Puerto Rico

CBSA

Puerto Rico 3,562 3,526,677 854,987 $31,000 USD

1,197,200 15.40%

SquareMiles



www.cbcmexico.mx

www.cbcommercialpr.com

78

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSpain

Vacancy


Absorption

Rental Rates

www.cbc-spain.com

Avda. Diagonal 433, 3º 2ª Barcelona, Cataluña 8036(+34) 93 241 30 82

CONTACT

•Spain is recovering faster than expected. Foreign investment flows to Spain again.

•The crisis has decimated the real estate sector, leaving incredible opportunities behind.

•The lack of backing from the financial sector and the locals opens the door to foreign investors, who are taking advantage of low prices.

•The Residential market in premium areas of Barcelona and Madrid is expected to go up again in 2014. There is a need of new construction in the downtown areas of Barcelona and Madrid.

•The unemployment rate is still high in Spain. This is directly affecting local consumption and of course real estate prices, mainly all over the country.

•As seen in the last 12 months, Spain has reached the turning point, and this is the entry point for foreign investors.

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Spain

CBSA

Spain 504,782 45,000,000 15,000,000 $24,000 USD

23,000,000 25%

SquareMiles



DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialUAE (Mega Homes Real Estate)

Vacancy


Absorption

Rental Rates

www.coldwellbanker-ae.com

Citadel Tower Dubai, U.A.E 73618+971 4 439 1200

CONTACT

•The major tenant that moved into the market was a large multinational oil company.

•Vacancy is falling because of UAE regulation and tax free initiatives. This is attracting companies to move in.

•New construction is going on.

•There are big changes in the Residential market according to the demand. There are more than 400 new companies opening every month with new employees moving from all around the world to Dubai.

•New companies have moved in, and investors have started to invest again in good opportunities and bulk deals.

•The most interest in the area is in tax free country, high end property, rules and regulation, and good investment opportunities.

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United Arab Emirates - Dubai

CBSA

Dubai 2550.68 2,106,000 148785 18,248.6 AED

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SquareMiles



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Sources of Information & DisclaimerEach market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics. ©2014 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC.

Acadiana, LA 37Albany/Capital Region, NY 43Albuquerque MSA, NM 43Antelope Valley, CA 6Athens, GA 27Atlanta MSA, GA 28Atlanta, Greater MSA, GA 28Austin, TX 55Bloomington/Normal, IL 31Brevard County, FL 17Bryan/College Station, TX 55Bucks Co, PA/Hunterdon Co, NJ, PA/NJ 49Buffalo/Rochester, NY 44Carmel/Monterey Peninsula, CA 7Central New Jersey, NJ 41Champaign/Urbana, IL 32Charleston MSA, SC 50Charlotte MSA, NC 45Chattanooga Metro, TN 53Cheyenne, WY 65Chicagoland, IL 32Chico, CA 7Cincinnati, OH 47Columbia, SC 51Corona/Riverside, CA 8Dallas/Ft. Worth, TX 56Daytona Beach/Ormond Beach, FL 18Denver County, CO 16Denver, CO 15DuPage County, IL 33Fargo/Moorhead, ND 46Florida Keys, FL 18Fredericksburg, VA 60Gainesville, FL 19Garden City, KS 34Greenville, SC 51Gulfport/Biloxi, MS 39Honolulu, HI 30Houston County, AL 4Houston, TX 56Huntsville, AL 4Indianapolis, IN 34Inland Empire/Victor Valley, CA 8Jacksonville, FL 19Kansas City Metro Area, KS 35King County, WA 62Knoxville - East, TN 54Kootenai County, ID 31Lackawanna/Luzerne Counties, PA 49Lakeland/Winter Haven MSA, FL 20Lincoln, NE 40Little Rock, AR 5Long Beach/South Bay, CA 9Long Island, NY 44Los Angeles/San Fernando/San Gabriel, CA 9Louisville Metro, KY 35Lubbock, TX 57Lynchburg, VA 60Macon, Bibb County, GA 29Madison, Greater, WI 64Mankato, MN 38Melbourne/Palm Bay/Titusville, FL 20Miami-Dade County, FL 21Midcoast, ME 38Minneapolis Metro, MN 39Modesto MSA, CA 10Montgomery/Central, AL 5Morris County, NJ 42Myrtle Beach, SC 52Napa/Sonoma Valleys, CA 10Naples/Ft. Myers, FL 21Nashville MSA, TN 54New Hanover County, NC 46New Orleans, LA 37New York, NY 45Newport Beach, CA 11

Northern, NJ 42Oklahoma City MSA, OK 47Orange City/Debary, FL 22Orange County Coast, CA 12Orange County, CA 11Orlando MSA, FL 22Paducah/McCracken County, KY 36Peachtree City, GA 29Pittsburgh, PA 50Port Orange/New Smyrna Beach, FL 23Port St Lucie, FL 23Portland, OR 48Rapid City, SD 53Reno/Sparks MSA, NV 41Rio Grande Valley, TX 57Rock County, WI 64Roseville/Placer County, CA 6Sacramento, CA 12Salem/Keizer, OR 48Salt Lake/Utah County, UT 59San Bernardino/Inland Empire, CA 13San Diego, CA 13San Mateo County, CA 14Sarasota/Manatee/Charlotte, FL 24Savannah, GA 30Seattle, WA 62South Florida, FL 25South/Central, TX 58Southeast, FL 25Southeast, TX 58Southern, KY 36Southwest Riverside County, CA 14Spartanburg, SC 52Spotsylvania County, VA 61St Lucie County, FL 24St. Joseph, MO 40Tacoma/Puyallup, WA 63Tallahassee, FL 26Tampa Bay, FL 26Tazewell County, IL 33Vancouver & Southwest, WA 63Vero Beach, FL 27Waco, TX 59West Los Angeles, CA 15Western, CO 16Western, CT 17Williamsburg/Hampton Roads MSA, VA 61

INTERNATIONAL

Bermuda 66Canada - Aurora, Ontario 67 - Barrie, Ontario 67 - Campbell River, British Columbia 68 - Courtenay/Comox, British Columbia 68 - Innisfil, Ontario 69 - Nanaimo, British Columbia 69 - Newmarket, Ontario 70 - Orillia, Ontario 70 - Ottawa, Ontario 71 - Richmond Hill, Ontario 71 - Vaughan, Ontario 72 - Victoria/Capital Regional, British Columbia 72 - Waterloo Region, Ontario 73 - Winnipeg Area, Manitoba 73Cayman Islands - Grand Cayman 74Costa Rica 74France 75Greece 75Ireland - Republic of Ireland 76Italy 76México - México City 77Puerto Rico 77Spain 78United Arab Emirates - Dubai 78

INDEX BY MARKET

© 2014 Coldwell Banker Real Estate LLC/dba Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Each agent

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