2013 mid year blue book

2013 Blue Book

SEMI-ANNUALMarket Intelligence Report

Check out the

cbcworldwide.comMARKETS SNAPSHOTS

For Commercial Real Estate

CONTENTS

AL - Houston County 4AL - Montgomery 4AK - Anchorage 5AZ - Sedona 5AR - Little Rock 6CA - Antelope Valley 6CA - Chico 7CA - Inland Empire North / Victor Valley 7CA - Long Beach / South Bay 8CA - Modesto 8CA - Napa & Sonoma Valleys 9CA - Newport Beach 9CA - North Los Angeles County 10CA - North State 10CA - Oakland / East Bay 11CA - Orange County 11CA - Riverside / Corona Valley 12CA - Riverside / South West 12CA - Roseville / Placer County 13CA - San Mateo County 13CA - West Los Angeles 14CO - Denver 14CO - Grand Junction / Mesa County 15CT - Fairfield County 15DE - Sussex County 16FL - Boca Raton 16FL - Charlotte County 17FL - Daytona Beach / Ormond Beach 17FL - Deltona / Daytona Beach 18FL - Florida Keys / Key West 18FL - Fort Myers / Naples 19FL - Gainesville 19FL - Indian River County 20FL - Jacksonville 20FL - Lakeland / Winter Haven 21FL - Melbourne / Brevard County 21FL - Melbourne / Palm Bay / Titusville 22FL - Ocala, Marion County 22FL - Port Orange / New Smyrna Beach 23FL - Sarasota / Manatee / Charlotte 23FL - St. Lucie County 24FL - Tallahassee 24FL - Tampa Bay 25GA - Athens 25GA - Atlanta, Greater MSA 26GA - Columbus 26GA - Dalton / Whitfield County 27GA - Hinesville / Fort Stewart 27GA - Lake Oconee Trade Area 28GA - Marietta 28GA - Middle Georgia 29GA - Savannah 29HI - Honolulu 30ID - Boise, Idaho 30ID - Coeur d’Alene 31ID - Eastern 31IL - Bloomington / Normal 32IL - Champaign / Urbana 32IL - Chicagoland 33IN - East Central Indiana 33IN - Indianapolis 34KS - Garden City 34KS - Kansas City Meto Area 35KY - Lexington 35KY - Louisville Metro 36KY - Southern 36LA - Lafayette 37LA - New Orleans 37ME - Midcoast and Southern 38MI - Northern 38MI - Western 39MN - Central 39MN - Mankato 40MN - Minneapolis Metro 40MS - Gulfport / Biloxi 41

MO - St. Joseph 41MT - Billings 42NE - Lincoln 42NV - Reno / Sparks 43NJ - Central & Northern 43NJ - Morris County 44NJ - Northern 44NM - Albuquerque / Bernalillo County 45NY - Long Island 45NY - New York City 46NC - Greensboro / Guilford County 46NC - Piedmont Triad 47NC - Wilmington 47ND - Fargo / Moorhead 48OH - Cincinnati 48OH - Cleveland 49OK - Oklahoma City Metro 49OK - Tulsa, Oklahoma 50OR - Portland 50OR - Salem 51OR - Southern 51PA - Northeastern 52PA - Philadelphia, Northern Suburbs 52PA - Southwestern 53SC - Charleston 53SC - Columbia 54SC - Greenville 54SC - Myrtle Beach 55SC - Spartanburg 55SC - Sumter 56SD - Rapid City 56TN - Chattanooga Metro 57TN - East 57TN - Nashville 58TX - Abilene 58TX - Amarillo 59TX - Austin 59TX - Bryan / College Station 60TX - Central / South 60TX - Houston 61TX - Lubbock 61TX - Rio Grande Valley MSA 62TX - Victoria 62TX - Waco 63UT - Salt Lake County 63VA - Fredericksburg 64VA - Lynchburg 64WA - Clark County 65WA - King County 65WI - Janesville / Beloit 66WI - Madison, Greater 66WY - Cheyenne Metro 67

INTERNATIONALBermuda 68Canada - Aurora, Ontario 68Canada - Barrie, Ontario 69Canada - Innisfil, Ontario 69Canada - Kelowna / West Kelowna, BC 70Canada - Newmarket, Ontario 70Canada - Orillia, Ontario 71Canada - Ottawa, Canada 71Canada - Richmond Hill, Ontario 72Canada - Trail, British Columbia 72Canada - Vaughan, Ontario 73Canada - Waterloo Region, Ontario 73Canada - Winnipeg Area, Manitoba 74Costa Rica 74France - Paris 75Guatemala 75Italy 76Mexico - Mexico City 76Puerto Rico 77Spain - Barcelona & Cataluña Region 77United Arab Emirates - Dubai 78

3

Vacancy Absorption Rental Rates

p 11 Markets 78 Markets 39 Markets

q 80 Markets 15 Markets 24 Markets

n 35 Markets 30 Markets 60 Markets

*Based off 127 US Markets (Information was N/A in certain sectors)

US TRENDS*

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.

Source: Reis. 2013 Industrial are projections.

OFFICE retail industrial mulI-family

Q2 2012 Q2 2013

17.0% 17.3%

4,004,000 7,220,000

$28.17 $28.78

Vacancy

Absorption

Rental Rates

OFFICE retail

industrial multI-family













Q2 2012 Q2 2013

11.9% 11.5%

1,739,000 1,392,000

$17.96 $18.11

2012 2013

10.0% 9.4%

96,277,000 101,003,000

$4.61 $4.70

Q2 2012 Q2 2013

4.8% 4.3%

34,418 31,973

$1,082 $1,110

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

Jun 2012 vs Jun 2013Source: Bureau of Labor Statistics

Largest Decrease: Modesto, CA - 2.8%

p 16 Markets

q 103 Markets

n 8 Markets

UNEMPLOYMENT

Demand: Office mirrors job creation in the overall economy, the primary demand drivers have been in the Medical, Education, Technology and Energy sectors.

Demand: Grocery Anchored shopping centers are doing well with a trend toward specialty anchors such as Whole Foods, Trader Joes and Sprouts. High end and low end (discounters) are doing better, the middle is not the place to be, see Sears and JC Penny.

Demand: According to REIS e-Commerce & Internet fulfillment have been driving demand while import/export activity is tapering off due to economic activity outside the U.S.

Supply: The level off of vacancy has been a function of increased supply growth. REIS has indicated that new units coming on line are 85% pre-leased indicating that demand remains strong.

Of the 16 markets where the unemployment rate rose, it was less than 1% increase in each market.

4

AL - Houston County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlfred Saliba Realty

Vacancy

OFFICE retail industrial multy-family

Absorption

Rental Rates

www.alfredsalibacommercial.com

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

CONTACT

CBSA

Dothan, AL 1,718 143,295 57,785 $43,656 58,833 6.30%

SquareMiles

HouseholdIncomeMedian

Population Households Employees(Total) Unemployment

•The Governor of Alabama opened the 110,000 SF College of Osteopathic Medicine. Students began their first semester in August.

•Houston County’s unemployment rate has dropped from 6.7% to 6.3%.

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

•Hundreds of jobs came to Dothan when Commercial Jet opened its aviation services facility in May.

q N/A q q

p N/A p p

N/A N/A p p

AL - Montgomery

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

CBSA

Montgomery, AL

2,725 367,157 147,017 $52,679 144,160 6.90%

SquareMiles



•50,000 SF back-office bank use is headed to former Colonial Bank building on a 10 year lease.

•There is activity in the market from outside companies looking to capitalize on the low cost of labor tightening the market.

•Several hundred new apartments are coming on line both in the CBD and the suburbs. Office, Industrial and Retail are still absorbing inventory.

•Sales of existing homes are up year to year over 12%.

•The downtown revitalization continues to lure both young and old into considering Montgomery as their home due to an exciting urban renewal.

•Hyundai Automotive’s popular Sonata, made in Montgomery, set an annual production record of 361,348 units with a cumulative production figure of 2 million units for the year and is on target to beat that for 2013.

q q q q

p p p p

n q p p

5

AK - Anchorage

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Anchorage

Vacancy


Absorption

Rental Rates

www.coldwellutah.com

2600 Cordova St. Suite 205 Anchorage, AK 99503(907) 561-5155

CONTACT

CBSA

Anchorage, AK

26,379 378,904 137,722 $72,444 162,368 6.60%

SquareMiles



•Cabela’s broke ground on their 100,000 SF south Anchorage store. They will open May 2014. Bass Pro will open October 2013 with their 75,000 SF store.

•ULTA cosmetics will build stores in Anchorage and Fairbanks in 2014.

•Wal-Mart will open its east Anchorage super store in October 2013 and new 160,000 SF Sam’s Club at Tikahtnu Commons September 5th. Retail continues to be strong with new retailers and restaurants coming into the market. Existing retailers are opening new locations to fill holes in the market.

•The Class A Office market has improved to a 97% occupancy level. JL Properties broke ground in August for a new 100,000 SF building in midtown Anchorage that is 30% leased.

•The Warehouse market is strong with a 2% vacancy rate. Rents are in the $9.60 to $15.00 range.

q q q n

n p p n

p n n n

AZ - Sedona

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFirst Affiliate

Vacancy


Absorption

Rental Rates

www.cbcworldwide.com

195 West SR 89A Sedona, AZ 86336(928) 340-5000

CONTACT

CBSA

Flagstaff, AZ 18,617 130,596 46,597 $52,993 48,137 8.00%

SquareMiles



•World Class Golf course Seven Canyons recapitalizes and partners with 5-star Enchantment Resorts which was named the #1 Spa by Travel and Leisure magazine.

•Vacancies are constant.

•Upscale Restaurateur is expanding from 2 to 4 locations. A new location is currently under construction.

•Low inventory is causing price increases and a seller’s market in certain price ranges. Prices under $250,000 have a 2 month absorption rate; under $400,000 have a 4 month absorption rate.

•Both visitor and buyer traffic are increasing in the general market area.

•Sedona continues to be rated by various periodicals as one of the top three U.S. vacation destinations.

n n n q

n n n p

n n n p

6

AR - Little Rock

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHathaway Group

Vacancy


Absorption

Rental Rates

www.hathawaygroup.com

2100 Riverdale Rd. Suite 100 P.O Box 3730 LIttle Rock, AR 72202(501) 663-5400

CONTACT

CBSA

Little Rock- North Little Rock- Conway, AR

4,090 690,456 276,042 $56,190 290,765 6.70%

SquareMiles



•40,000 SF of Class A Office space was absorbed via Perfect Manufacturing’s purchase of 16101 St. Vincent Way.

•Major Maumelle Industrial absorption by Leisure Arts taking 200,000 SF in LR Logistics Center.

•Occupancy firms up at all top tier shopping centers in market.

•New entries and expansions by popular eateries: Twin Peaks, Chuhy’s, Big Orange, On The Border, Chipotle and Slim Chickens.

•“Mann on Main” and “Arcade” Mixed-Use projects open in downtown.

•Kiplinger ranks Little Rock #1 on its “10 Best Places to Live” in 2013.

p n q q

q q n p

q p p p

CA - Antelope Valley

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialValley Realty

Vacancy


Absorption

Rental Rates

www.cbcvalleyrealty.com

42402 10th St. West Suite E Lancaster, CA 93534(661) 945-2524

CONTACT

CBSA

Antelope Valley

2,500 513,547 156,816 $67,268 166,627 8.50%

SquareMiles



•China based BYD, a firm specializing in rechargeable batteries, electric bus and vehicle manufacturing, and green energy technologies, opens electric bus manufacturing plant in the city of Lancaster and purchases a second location in the city that will become a large-scale battery production center.

•Kinkisharyo International announced plans to utilize the former B1B bomber plant, Site 9, in Palmdale to fulfill an $890 million contract to build as many as 235 light rail cars for the Los Angeles County Metropolitan Transportation Authority.

•Aerospace fastener manufacturer, Morton Manufacturing, is in the final stages of construction for its new 80,000 SF corporate headquarters in the city of Lancaster and is predicted to bring 300 jobs to the area.

•Innovative Coatings Technology Corporation (INCOTEC), a global leader in coatings technology, announced plans to move their headquarters to the City of Lancaster. Having outgrown their current facility in Mojave, INCOTEC plans on expanding their manufacturing capacity to the new Lancaster headquarters, adding 50 new hires in the process.

q q q N/A

p p p N/A

n n n N/A

7

CA - Chico

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialDuFour Realty

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Chico, CA 1,639 221,277 88,796 $43,239 60,484 10.30%

SquareMiles



•Sales and transient occupancy tax is significantly increasing and now is above 2007 levels.

•Number of building permits is up almost 250% over last year. It is the highest level in six years.

•The technology sector is improving. Milestone Technologies, Build.com and new ChicoStart Innovation Lab are expanding into new facilities.

•There are new major retailers in the area including BevMo, Chipotle and CVS.

•There is high vacancy in large Offices and Warehouses at airport and Industrial parks.

•The small Warehouse and Office market is very active with lower vacancy.

q q q q

q p p p

n n n n

CA - Inland Empire North / Victor Valley

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

CBSA

Riverside- San

Bernardino Ontario, CA

27,260 4,171,856 1,350,253 $52,845 1,156,307 10.20%

SquareMiles



•Recently opened or under construction: Dick’s Sporting Goods, Steak N Shake, Chipotle, Red Robin, Fat Burger, Denny’s, Ulta Beauty and In Shape Gym.

•The first Hot Dog on a Stick drive thru in California opens in Hesperia.

•Multi-Family sales price per SF is up 42% year over year.

•Land: Average transaction price has risen 53% since the beginning of the year.

•If Victor Valley’s trade area (population 442,497) was a city, it would be the 8th largest city in the state.

•There is $5.3 billion of Retail potential in the Victor Valley region.

•The HDO Annual regional business conference will be held on Oct 17, 2013 in Victorville.

q q p n

q p q n

q n p p

8

CA - Long Beach / South Bay

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

CBSA

Long Beach, CA

4,850 12,935,173 4,288,080 $60,485 5,313,010 9.20%

SquareMiles



•Mercedes Benz USA has leased a 1,091,754 SF Industrial complex on 52 acres of land.

•Two new high-rise Residential developments will soon begin construction in Downtown Long Beach.

•Sale inventory is very low, especially for Multi-Family properties.

•A large SBA buyer pool is looking to purchase.

q q q q

q p p n

p p n p

CA - Modesto

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialVinson Chase, Realtor

Vacancy


Absorption

Rental Rates


220- C Standiford Ave. Modesto, CA 95350(209) 577-2121

CONTACT

CBSA

Modesto, CA 1,494 512,221 167,008 $49,395 140,743 12.70%

SquareMiles



•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 in 2012. This will only come if unemployment in the area starts to decline.

•The Office and Retail markets are improving in good centers and locations.

q q n q

p p n p

n n n p

9

CA - Napa & Sonoma Valleys

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

CBSA

Napa, CA 754 135,273 52,057 $72,042 60,343 5.80%

SquareMiles



•In the first half of 2013, many developers and builders came back into the market. One project included 120 townhouses at a high profile corner of Hwy. 29 and American Canyon Rd.

•City of Napa has received an application for a 5+ acre subdivision comprised of 32 one and two-story single family homes, east of the Alexander Crossing Apartments under construction on Silverado Trail.

•A Bay Area developer is in escrow to close later this year on an infill project of 71 townhomes, ranging from 1,200 to 2,000 SF in size, in the Pear Tree Lane area of Napa.

•Calistoga voters approved three new Hotel / Resort projects that will add $1.5 to $2 million per year in transient occupancy tax revenue within the next 3 to 5 years.

•In St. Helena, Retail rental rates continue to trend upward, approaching $3.50 to $4.00 per SF. In Yountville, only one Retail space is available for lease in Washington Square. The only Office building listed for sale received multiple offers over the $1.2MM asking price.

•On West Napa St. in Sonoma, a developer has plans to build 12 townhouses on a one acre parcel, just east of the turn onto Hwy 12.

q q q N/A

p p p p

p n n p

CA - Newport Beach

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Balboa Island

Vacancy


Absorption

Rental Rates


201 Marine Ave. Balboa Island, CA 92662(949) 422-6657

CONTACT

CBSA

Los Angeles- Long Beach-

Santa Ana, CA

4,850 12,935,173 4,288,080 $60,485 5,313,010 9.20%

SquareMiles



•Office vacancy rates are improving slightly.

•Office rental rates are still declining.

•Retail investments are beginning to move again.

•Industrial unit sales are moving up slightly.

•Multi-Family investment prices are rising while the cap rate is declining.

•Retail rent rates are moving up.

n q n q

n p n p

q q p p

10

CA - North Los Angeles County

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

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 9.20%

SquareMiles



•Avery International relocated their headquarters from Pasadena to Glendale.

•Vacancy is decreasing in Pasadena and Burbank because companies are beginning to hire new employees again and there are no new office buildings under construction.

•In Pasadena, one new Office building will start construction in early 2014.

•Residential prices have already increased 15% in 2013.

•There is more optimism in the market because the unemployment rate is decreasing, interest rates are low and many investors want to purchase commercial properties.

•Pasadena and Burbank have lower Office vacancy rates than most other cities throughout the region.

•Industrial rental rates and sale prices are increasing because vacancy is under 5%. Industrial is a seller’s market, due to increased demand from users for space, low vacancy and very favorable interest rates for buyer’s.

q q q q

p p p p

p p p p

CA - North State

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialC&C Properties

Vacancy


Absorption

Rental Rates

www.cbcnorthstate.com

2155 Larkspur Lane, #A Redding, CA 96002(530) 221-9638

CONTACT

CBSA

Redding, CA 3,785 181,457 71,491 45,729 53,468 10.60%

SquareMiles



•Partnership Healthcare California will hire 80 people and acquire 14,000 SF of Office space.

•No new construction for the past 5 years is resulting in shortages in Office and Retail.

•Housing construction is starting up again, but all other sectors remain flat.

•Increased demand has driven up values which has reduced foreclosures.

•There is a surprising recovery in Retail sector.

•Redding outperforms San Francisco in per capita Retail spending.

q q n q

p p n p

n p n p

11

CA - Oakland / East Bay

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Pleasanton

Vacancy


Absorption

Rental Rates


5980 Stoneridge Dr. Suite 122 Pleasanton, CA 94588(925) 847-2266

CONTACT

CBSA

San Francisco- Oakland-

Fremont, CA

2,473 4,347,767 1,661,661 $80,439 1,916,201 6.50%

SquareMiles



•The 345,700 SF Downtown Pleasant Hill Retail center was sold for $100,000,000 ($289 PSF, 7.1% Cap Rate).

•The East Bay market is benefiting from firms priced out of San Francisco.

•Solid employment gains are continuing.

•Apartment developers are restarting projects shelved during the recession.

•Cash continues to pour in from overseas investors.

•The East Bay’s unique culture is more laid back and uncomplicated when compared to that of its western neighbors.

q n q q

n n p q

n n p p

CA - Orange County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Newport Beach

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 60,485 5,313,010 9.20%

SquareMiles



•Irvine Company sees 5 Million more SF of Offices.

•The recession is largely behind the best of Orange County’s big-box space.

•Research and Development sector activity is increasing.

•The housing market is on fire, up to $1,000,000 in sales.

•Fashion Island Shopping Center renovations are almost completed.

•Construction is up in most sectors, but Retail lags.

q n q q

p n p p

n p p p

12

CA - Riverside / Corona Valley

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSudweeks Group

Vacancy


Absorption

Rental Rates

www.cbcsocalgroup.com

1260 Corona Pointe Ct. Suite 101 Corona, CA 92879(951) 239-3147

CONTACT

CBSA

Riverside- San

Bernardino- Ontario, CA

27,260 4,171,856 1,350,253 52,845 1,156,307 10.20%

SquareMiles



•Industrial continues to be the strong point of the commercial real estate market in the Corona Valley.

•Office rental rates have increased 7.6% from the bottom of the market which was in Q1 2012.

•As residential builders are now resuming new home construction projects, Retail activity and prices are starting to climb.

•The unemployment rate has dropped to 10.2%, down from 12.4% from the previous year.

q q p N/A

p p p N/A

p q n N/A

CA - Riverside / South West

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSudweeks Group

Vacancy


Absorption

Rental Rates

www.cbcsocalgroup.com

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

CONTACT

CBSA

Riverside- San

Bernardino- Ontario, CA

27,260 4,171,856 1,350,253 $52,845 1,156,307 11.10%

SquareMiles



•All economic indicators continue to point to a stabilizing economy for the second half of the year.

•Continued positive absorption and only one new delivery of Class B professional Office space resulted in another drop in vacancy for Southwest Riverside County.

•In Retail, all sub markets, with the exception of four, have dropped to a vacancy rate of 10% or below. This is a great measure of economic health within the Southwest Riverside County region and will no doubt contribute to increasing lease rates as vacancy continues to drop.

•As the Temecula Valley Hospital nears completion, many doctors are looking to relocate within close proximity. This is driving up demand in the Hwy. 79 South area with most of the available Medical Office product getting leased and / or sold.

•The unemployment rate has dropped to 11.1%, down from 12.4% from the previous year.

q q q N/A

p q q N/A

n p p N/A

13

CA - Roseville / Placer County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Roseville

Vacancy


Absorption

Rental Rates


2270 Douglas Blvd. Suite 120 Roseville, CA 95661(916) 786-4600

CONTACT

CBSA

Sacramento- Arden- Arcade-

Roseville, CA

5,094 2,141,658 801,834 61,184 727,825 8.50%

SquareMiles



•Major Retail construction at Rocklin Crossing of 543,200 SF.

•Major big-box construction in Rocklin Commons of 410,942 SF.

•Leasing activity in all sectors is level to increasing. Residential construction up.

•There is a shortage of Building Lots, and Land prices are increasing.

•There is growth in new jobs as the healthcare industry is hiring.

•Investors are coming back into the market.

q q q q

q p p p

n q n p

CA - San Mateo County

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

CBSA

San Diego- Carlsbad-

San Marcos, CA

4,200 3,071,264 1,129,261 $66,264 1,227,936 7.30%

SquareMiles



•Eleventh consecutive quarter of asking rate rising 3.7% quarter after quarter in the Office market.

•Salesforce leases out 103,373 SF.

•Industrial sale of 87,000 SF by IIT Acquisitions, LLC.

•There was a sale of an 85,000 SF Industrial building by Terrano Realty Group.

•Industrial tenant demand increases as companies from surrounding markets look to relocate to the Peninsula.

•Over 600 Multi-Family units in Redwood City are under construction for 2014.

q q n q

p p p p

p p p p

14

CA - West Los Angeles

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

CBSA


Santa Ana, CA

4,850 12,935,173 4,288,080 $60,485 5,313,010 9.20%

SquareMiles



•Technology, internet and media continue to take additional space.

•Vacancy rates and rents remain steady.

•Apartment development is on the rise.

•Apartments are in high demand.

•Capitalization rates and price per SF are back to 2007 levels.

•Investment inventory is very low.

n q p q

n p q p

n n p p

CO - Denver

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

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

CONTACT

CBSA

Denver- Aurora, CO

8,369 2,578,383 1,001,550 67,727 1,140,976 7.30%

SquareMiles



•One Touch Print relocated its Denver HQ comprised of 82,467 SF to the former Office Depot facility in North Denver.

•Denver has had 14 consecutive quarters of positive absorption. Year to date, Office is 860,157 SF; Industrial is 1.6 million SF; and Retail expanded by 665,786 SF.

•The investment market is returning rapidly with 5.1 million SF trading for $926 million.

•The Union Station redevelopment will open its first new Office building this fall known as One Union Station. Five additional projects are in the pipeline.

•Positive absorption in all markets and rising rents (exceeding 2008 levels) are making Denver very attractive for investors.

•Colorado’s unemployment rate fell in the last quarter to 6.9%.

q q q q

p p p p

p p p p

15

CO - Grand Junction / Mesa County

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

CBSA

Grand Junction, CO

3,328 148,298 60,317 $47,409 54,564 9.00%

SquareMiles



•Western Colorado continues recovery in the market. Regional Medical Center announces next phase with a $40M economic impact to the region as they complete the project. Additional medical related projects: 87,000 SF, $24M Medical Plaza and a 17,000 SF Pain Management, Ambulatory Surgery Center.

•Year to date total volume is up 9.18% for the first half of the year. The 2012 year to date volume sold $258,392,219 compared to the 2013 year to date volume sold $281,324,778. Transactions are down by 3.39%; the 2012 units sold 1,524 and 2013 units sold is 1,474 .

•Year to date building permits are down for the first half of 2013 according to the Mesa County building department. January to June 2013, 121 new building permits were issued, in 2012 there were 133 permits issued, down by 9.09%.

•Significant deals in the first half of 2013 include a 56,000 SF building on 2.92 acre redevelopment for a government tenant sold for $1.95 million; a 47,280 SF redevelopment family fun center sold for $1.85 million; an 18,900 SF Industrial energy related sold for $965,750; and a 19,200 SF Industrial redevelopment sold for $800,000.

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CT - Fairfield County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT- Wilton

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Bridgeport-Stamford-

Norwalk, CT

626 904,874 336,733 $91,039 419,437 7.50%

SquareMiles



•Fairfield County’s Office market ended Q2 of 2013 with a vacancy rate of 15.1%, up from 15.0% with net absorption totaling negative 64,127 SF, compares to positive 65,818 SF in the Q1 2013. Vacant sublease space increased in the quarter, ending the quarter at 929,149 SF.

•Fairfield County’s available vacant-sublease space increased in Office in Q1 2013 from 928,936 SF to 929,149 SF. Industrial decreased from 65,108 SF Q1 2013 to 61,458 SF by the end of the Q2. Retail has trended up over the past four quarters from Q3 2012 16,680 to 18,665 Q2 2013.

•Millward Brown vacated 73,564 SF of Office space. Charter Communications is moving into 73,564 SF Office space. Seaboard Industries Inc. moved into 32,000 SF of Industrial space. Price Rite moved into 46,000 SF of Retail space and Whole Foods Market moved into 35,200 SF of Retail space.

•Notable constructions projects of 2013 are: 106 Federal Road 6,500 SF facility and 264 South Beach Ave, a 5,400 SF building.

•The average quoted asking rate is $37.74 SF for Office; Industrial $7.61 SF; and Retail $25.31 SF.

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16

DE - Sussex County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialResort Realty

Vacancy


Absorption

Rental Rates

www.cbankercommercial.com

20184 Coastal Hwy. Rehoboth Beach, DE 19971(302) 227-5000

CONTACT

CBSA

Seaford, DE 938 194,215 78,981 $52,386 68,986 6.50%

SquareMiles



•Several new national tenants have opened on Coastal Highway, including: TD Bank, Buffalo Wild Wings, Panera Bread and Chipotle. Shore Bank and Keller-Williams have also opened offices.

•Commercial activity has continued to improve due to the rise in tourism, more summer rental activity and rapidly increasing retirement influx.

•While commercial construction is still slow, the level of residential construction increased dramatically over the past year.

•Closed residential resale volume increased 14.5% in 2012 over 2011.

•Traffic volume on Route 1 and Coastal Highway remains at a very high level making it one of the best Retail areas in the mid-Atlantic region.

•Sussex County’s great accessibility to bays and the ocean, coupled with low property taxes, and no sales tax continues to make it one of the top retiree destinations on the east coast.

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FL - Boca Raton

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Boca Raton

Vacancy


Absorption

Rental Rates


1800 NW Corporate Blvd. Suite 100 Boca Raton, FL 33431(561) 479-1225

CONTACT

CBSA

Boca Raton, FL

5,126 5,566,404 2,128,471 $57,415 2,069,525 7.50%

SquareMiles



•The Boca Raton submarket had a slight drop in Office vacancy rate to about 23.1%. Although there was minimal new corporate relocations into this market, several existing companies expanded either in their current locations or expanded laterally in the market.

•The largest transaction signed in Q2 was Tyco Integrated Security. The company leased 72,234 SF at Boca Corporate Center and Campus in Boca Raton. Tyco will be vacating 175,000 SF at 1501 Yamato Rd., Boca Raton, to be backfilled by their affiliate ADT.

•The overall average asking lease rates held steady over last year and remained at a current rate of $17.00 PSF NNN.

•Currently, there are no new Office projects underway in the Boca Raton or Palm Beach County market.

•There was one notable Office building sale during Q2. Cendyn, a full service digital marketing agency, acquired the Compson Financial Center in Boca Raton at auction for approximately $10 million or $107 PSF. The property was 23% occupied at the time of sale.

•Indicators are trending in a positive direction, leading to growth in 2013. Landlords and investors are optimistic as the Office market continues to improve at a slow but steady pace. Housing values continue to improve in the area with annual building permits on the rise for the first time in 5 years.

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17

FL - Charlotte County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSunstar Realty, Inc

Vacancy


Absorption

Rental Rates

www.sunstarcommercial.com

1980 Kings Hwy. Port Charlotte, FL 33980(941) 255-3497

CONTACT

CBSA

Punta Gorda, FL

694 156,239 70,703 $50,696 38,556 7.30%

SquareMiles



•There have been no significant changes in the market in the past 6 months.

•Vacancy is staying level.

•There was a small increase in new construction.

•Inventory is low and new home construction is up.

•The market has stabilized.

•The market is a great location for retirees.

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FL - Daytona Beach / Ormond Beach

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

CBSA

Deltona Daytona Ormond

Beach, FL

1,103 495,625 214,567 $47,500 146,482 7.30%

SquareMiles



•Diamond Aircraft Industries, the world’s third largest aircraft manufacturer, has just committed to a long-term partnership with Embry Riddle Aeronautical University that will result in an expansion of the company’s international research and development program.

•Hard Rock Cafe and Bayshore Capital just announced a $150 million phase one: a 250 room hotel, 100 unit condo and a 28,000 SF ballroom on 10 acres of beachfront.

•Daytona International Speedway broke ground July 5th on a 3 year, $400 million renovation project that will use 3% of the steel produced in the USA annually.

•Protogroup of St. Petersburg, Russia has announced a 1.4 million SF Hotel and Condo project on a 4.5 acre site.

•Daytona Speedway has teamed up with Atlanta based Jacoby Group to develop a 500,000 SF Mixed-Use project across from the International Speedway.

•Hotel / Motel room occupancy continues to climb as passenger boardings continue to increase in and out of Daytona Beach International Airport .

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18

FL - Deltona / Daytona Beach

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

CBSA


Beach, FL

1,103 495,625 214,567 $47,500 146,482 7.30%

SquareMiles



•Bethune-Cookman University opens its Deltona Campus.

•Increase in jobs creates more demand for Office, Industrial and Retail space.

•New home construction is picking up as excess inventory gets absorbed.

•For the first time since the recession, Volusia County is seeing an increase in property values.

•Businesses are starting to expand as they no longer can wait to see if the market has stabilized.

•First Sunrail station in Volusia County is set to open in 2014, with a station in the City of Debary.

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FL - Florida Keys / Key West

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchmitt Real Estate Company

Vacancy


Absorption

Rental Rates


11100 Overseas Hwy. Marathon, FL 33050(305) 289-6482

CONTACT

CBSA

Key West, FL 997 73,047 32,553 $71,455 29,685 4.10%

SquareMiles



•Tourism remains strong and Hospitality leads the commercial markets. Over 500 new hotel rooms on the Keys will come on the market in 2014.

•Retail is rebounding on the strength of Hospitality. Dollar Tree, CVS, Walgreens and Publix are expanding their footprints in the Keys.

•New Hotel and Hotel redevelopment projects are underway throughout the Keys.

•The residential market is up almost 20% YTD through July. Average sales prices have increased about 6% while inventories are down almost 10%.

•The Florida Keys is designated as an Area of State Critical Concern which severely restricts development. The Keys enjoy the lowest unemployment rate in the state and the highest cost of living.

•Please visit our website at www.RealEstateFloridaKeys.com and click on our Newsletter link to view our quarterly statistical newsletters to learn about this market in greater detail.

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19

FL - Fort Myers / Naples

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Naples

Vacancy


Absorption

Rental Rates


4851 North Tamiami Trail Naples, FL 34103(239) 596-6130

CONTACT

CBSA

Naples- Marco Island,

FL

2,025 320,101 132,487 $76,515 115,960 7.20%

SquareMiles



•Hertz Car Rentals is moving their national headquarters from New Jersey to Estero between Fort Myers and Naples. This will move 700 families to southwest Florida.

•Vacancy is falling across all commercial types due to businesses’ expansion and the absence of new construction for 5 or 6 years.

•New construction is starting as vacancies hit continued lows.

•The residential market is hot.

•Now is the time to buy or lease in SW Florida.

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FL - Gainesville

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) 264-3800

CONTACT

CBSA

Gainesville, FL

1,223 261,674 113,545 $45,060 87,322 6.00%

SquareMiles



•In the 1st half of 2013, Office had positive absorption, rates were up 5.0%, and time on market was down.

•Retail had positive absorption in the first half of 2013 with rates up 4.0%. Time on market has increased.

•Office stats: Average asking gross rate is $14.12/SF; 244 total active listings; average days on market is 408 days; vacancy is between 12-13%.

•Retail stats: Average asking NNN rate is $16.02/SF; 199 total active listings; average days on the market is 704 days; vacancy is 9-10%.

•The average Land closing price is $2,646 per acre.

•Hottest to coldest in number of transactions: Office leasing, Agriculture and timber Land sales, Retail leasing, Industrial leasing, Office sales, Industrial sales.

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20

FL - Indian River County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialEd Schlitt, Realtors

Vacancy


Absorption

Rental Rates

cbc.flcoldwellbanker.com

1950 US Hwy 1 Vero Beach, FL 32960(772) 778-9257

CONTACT

CBSA

Sebastian- Vero Beach,

FL

503 135,534 59,807 62,271 43,595 9.30%

SquareMiles



•A new Publix center opens on U.S. Hwy. and 58th while Albertsons closes.

•Vacancy rates are gradually reducing as rents stabilize.

•U.S. Hwy. 1 south of Vero to the county line is expanding to 6 lanes.

•New home starts are up over 20% and rising.

•Growth and rising home prices lead toward a healthy economy.

•Completed, permitted and entitled residential subdivisions are in hot demand.

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FL - Jacksonville

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

CBSA

Jacksonville, FL

3,221 1,334,380 518,910 $60,216 551,254 7.00%

SquareMiles



•President Barack Obama came to Jacksonville, Florida, in July to tour JAXPORT. He called on Congress to increase infrastructure investment and stressed the importance of deepening the shipping channel to accept supertankers.

•JAXPORT board of directors hired Brian Taylor as the new CEO of the Port. Taylor has served around the world during his 30-year career and has an MBA in Economics and Financial Management from Concordia University in Montreal.

•The Jacksonville Jaguars announced that the team has agreed to terms with the City of Jacksonville to undertake approximately $63 million in major enhancements to EverBank Field, including two new end zone video scoreboards that will be the largest of their kind in the world. Also, renovations to the north end zone will make it a world-class entertainment destination to attract and keep many premier events in Jacksonville.

•Real estate sources say Trader Joe’s is considering a site in Jacksonville Beach, in a shopping center at the intersection of A1A and J. Turner Butler Blvd. California based Trader Joe’s, which sells gourmet items, beer and wine and pantry staples, typically targets an educated, high-income demographic.

•EverBank Financial Corp. signed a 62,798 SF lease at 301 W. Bay St. in Jacksonville. EverBank will expand to occupy the 27th and 28th floors in addition to the 270,000 SF they have occupied since late 2011.

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21

FL - Lakeland / Winter Haven

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) 648-1528

CONTACT

CBSA

Lakeland Winter

Haven, FL

2,010 606,019 228,998 $40,730 245,900 8.40%

SquareMiles



•Lakeland is a finalist for an Amazon Warehouse.

•Lakeland Regional Medical Center announces a new $80 million building and relocates 180 “nonclinical” employees (32,000 SF) downtown.

•CSX is under construction with their Intermodal Logistics Center in Winter Haven.

•There was continued growth on US Hwy 27 due to LEGOLAND Florida traffic and residential construction at “4 corners.”

•Residential sales volume is up nearly 30%. Medical prices are up over 15%.

•Downtown Winter Haven continues to redevelop; another 1/2 block is under construction.

•Florida Polytechnic University, Florida’s 12th university, will open for its 1st class of 500 students in Fall 2014. Plans are to grow to 5,000 enrollment over the next 10 years. The 120,000 SF iconic first building, designed by world famous architect, Santiago Calatrava, will be completed by year end. The curriculum focus is on STEM - science, technology, engineering and math.

•LEGOLAND Florida, located in southeast Winter Haven, has been opened for 1 1/2 years and plans to reach 2 million visitors within 3 years.

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FL - Melbourne / Brevard County

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Palm Bay- Melbourne-

Titusville, FL

1,018 536,805 225,977 $56,299 181,926 7.80%

SquareMiles



•Port Canaveral is creating the Inland Port in Titusville for shipping bulk cargo. The $23 million project will connect the port to rail. Port Canaveral is now one of the busiest ports in the world.

•Vacancy is falling in Brevard County due to the increase in jobs. Brevard County unemployment down to 7.8%.

•Grumman is building a 200,000 SF Manned Aircraft Design Center of Excellence in Melbourne, creating over 1,000 new jobs.

•Homes sales are up over 24%, and national builders are having trouble keeping up with demand.

•Numerous national retailers & restaurants are locating to Brevard County, including: Bass Pro Outlets, Cheddars and Chipotle.

•NASA is being replaced by the commercialization of the space industry with companies such as Space X, United Launch Alliance, ATK, Boeing, Lockheed, Orbital Science, Blue Origin and many others.

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FL - Melbourne / Palm Bay / Titusville

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

CONTACT

CBSA

Palm Bay- Melbourne-

Titusville, FL

1,018 536,805 225,977 $56,299 181,926 7.80%

SquareMiles



•“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.

•Embraer Aircraft is building a 63,500 SF, $24 million Embraer Engineering and Technology Center at Melbourne International Airport, which will generate 200 engineering jobs by the end of 2016.

•Eckler Industries, Inc. is expanding its auto parts distribution facility and international HQ in Titusville. The project will generate a $5.5 million economic impact annually, adding 65 new jobs in four years.

•United Paradyne Corp., a California based, aerospace related, propellant subcontractor, will create 50 jobs at an average salary of $64,000 as it returns to Kennedy Space Center.

•Archo Solutions Engineering USA will open its first U.S. facility at Melbourne International Airport to tap into US commercial / executive jet markets, creating 50 jobs by 2016 at an average salary of $50,000.

•Brevard’s July 2013 residential market average sale price $167,898 is up over 15% from July 2012 prices and the July 2013 average days on the market of 97 has dropped 21.14% over July 2012.

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FL - Ocala, Marion County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialEllison Realty Inc.

Vacancy


Absorption

Rental Rates


2226 East Silver Springs Blvd. Ocala, FL 34470(352) 732-8350

CONTACT

CBSA

Ocala, FL 1,579 329,658 137,836 42,854 91,158 8.20%

SquareMiles



•FedEx has signed a contract with the city to construct an 800,000+ SF packaging and fulfillment facility in one of Ocala’s Industrial parks. Construction is set to begin mid 2014.

•Retail vacancy rates continued to fall from 7.5% to 7.3% during the last quarter. Office vacancy rates climbed from 9.3% to 9.4% due to negative net absorption. Industrial vacancy rate rose from 11.4% to 12% also due to negative net absorption. The rising rates are mostly because of new REO assets.

•New construction start ups are beginning to come online. To date, there have been 203 permits filed with the county.

•The residential market is steadily improving due to low inventory and high demand. Marion County’s overall increase in home value has risen by approximately 12% in the last 12-15 months.

•Ocala / Marion County’s market has started to improve due in part to an aggressive pro business agenda from the city and the Chamber for Economic Partnership. City leaders have been successful in bringing in new companies to relocate to the area, bringing down unemployment.

•Marion County is known as the horse capital of the world with a very strong equine industry. Low taxes and close proximity to major metro areas continue to make Ocala one of the best places to live and work in the country.

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23

FL - Port Orange / New Smyrna Beach

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCoast Realty

Vacancy


Absorption

Rental Rates

www.coastrealty.cc

5535 S. Williamson Blvd. Port Orange, FL 32129(386) 763-3323

CONTACT

CBSA


Beach, FL

1,103 495,625 214,567 47,500 146,482 7.30%

SquareMiles



•The City of Port Orange is seeing significant commercial retail growth, with development of the Altamira Shopping Village along SR-421, Dunlawton Ave. and Taylor Road. Major stores include BJ’s and LA Fitness, with previously filled outparcels of CVS, Golden Corral, and Aspen Dental. The current project, valued at $9.9 million, is the largest commercial development under construction in Volusia County.

•The $30 million, White Palm Apartments is under way, being developed by Birmingham, AL based LIV Development. A 306 unit luxury complex is taking shape near The Pavilion at Port Orange. It is set to be the first new apartment complex to be built in East Volusia in two years.

•Commercial growth near the SR-44 exit of I-95 and New Smyrna Beach is well underway and should see development as economic conditions improve. As further residential communities expand to the west, commercial follows suit.

•The area is going to continue to fill vacancies and see new development and redevelopment, as well as an increase in demand for housing and Multi-Family. There is also a strong demand for quality ALFs.

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FL - Sarasota / Manatee / Charlotte

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Sarasota

Vacancy


Absorption

Rental Rates


100 N. Tamiami Trail Sarasota, FL 34236(941) 487-2100

CONTACT

CBSA

Sarasota- Bradenton- Venice, FL

1,313 689,676 311,173 $58,236 230,801 7.20%

SquareMiles



•Panama Expansion should be completed in 2015-2016. This will increase shipping traffic to the Port of Tampa and the Port of Manatee. Manatee is the fourth largest port in the state.

•Industrial sales and leases have increased.

•The greatest demand for all types of commercial real estate is along the I-75 corridor.

•Nat Benderson Rowing Complex, located along I-75 and University Parkway, has begun operation bringing many rowers from all over the world. They will be developing a Village Concept including: Hotels, Residential, Retail, and a Restaurant as part of this complex.

•The Irish Resolution Trust has gotten the clearance to market the 15 acres of downtown waterfront with Mixed-use activities. This was the former Quay.

•Residential new construction is up.

•Residential Multi-Family Land sales are up.

•Unemployment is 7.2%.

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24

FL - St. Lucie County

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Port St. Lucie, FL

1,128 407,361 169,340 $53,266 117,662 9.30%

SquareMiles



•Low lease rates (particularly in Industrial and Office sectors) are attracting new tenants.

•Investment activity is picking up; anticipating a recovery in lease rates.

•Land investors are back in the market as Residential construction continues to improve. Residential resales are still strong with prices increasing 0.5 to 1% monthly.

•The region’s largest DRITradition is seeing renewed building activity. Several national homebuilders are building again in the area and briskly selling homes.

•Downtown Ft. Pierce continues to attract new business. The new City Marina expansion is expected to be completed in early 2014.

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FL - Tallahassee

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHartung & Noblin, Inc.

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Tallahassee, FL

2,387 361,765 154,494 $47,364 111,973 6.70%

SquareMiles



•Four major new tenants: Whole Foods, Trader Joes, Dick’s Sporting Goods and Bass Pro Shop, will be opening stores this fall.

•Office vacancy remains at 20% with very little change.

•New construction seems to be booming with the new store openings as well as an abundance of new Multi-Family development, especially in the student housing market. Additional projects include the new Tallahassee Memorial Health Care Emergency Room (40,000 SF) and Gateway Tallahassee, an urban Walgreens downtown with 25,000 SF of office space on the two floors above the Walgreens.

•Residential sales are up 24% year over year. The average sale price is up 3.3%.

•For the first time in several years, commercial sales are up over the previous year.

•Tallahassee continues to enjoy one of the lowest unemployment rates in the state at 6.7%.

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25

FL - Tampa Bay

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Tampa

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Tampa- St. Petersburg- Clearwater,

FL

2,554 2,757,566 1,166,605 $49,596 1,059,081 7.20%

SquareMiles



•Bristol-Myers Squibb announces plans to open a business support center locally that will bring nearly 600 office jobs with salaries averaging $65,000. Trader Joe’s and Bass Pro Shops are making plans to enter the region for the first time as the region’s economy and jobless rate continue to improve.

•March was the biggest month for home sales in the Four County MSA in seven years. Home prices rose as supply is dwindling.

•Copa Airlines will start direct flights between Tampa International and Panama City, Panama with connections to most Latin American cities, which opens the door for new opportunities at the Port of Tampa and the Center for Advanced Medical Learning and Simulation (CAMLS).

•The Office sector remains soft, particularly in the CBD. Prospective Office tenants appear more focused on Tampa’s Westshore Business District.

•The Apartment market remains strong, thanks to both job and population growth in the region. Construction continues as five developments are under construction or breaking ground this year.

•Dick’s Sporting Goods announced it will open in Tampa’s Westshore Plaza in 2014, replacing space formerly occupied by Saks Fifth Ave., who decided to leave the Tampa Bay market.

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GA - Athens

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

CBSA

Athens- Clarke

County, GA

1,031 193,495 77,486 $40,278 60,760 7.20%

SquareMiles



•The 1 million SF Caterpillar plant is complete and will begin production November 1st, 2013.

•Over 2,000 new residential bedrooms are currently under construction or are approved and will start shortly in downtown Athens.

•On the southwest side of Athens, over 444,000 SF of Retail and a 16-screen movie theater have just been completed.

•On the north side of Athens, a 170,000 SF of new Retail space anchored by a 123,000 SF Kroger and fuel station has just been approved and will start construction soon.

•The 58 acre UGA Health Science Campus is now open and the first class of doctors will be graduating in 2014.

•Medical Office space in the Athens area is in high demand with several hundred thousand SF of new space completed in the past 2 years and over 200,000 SF on the books and under construction.

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26

GA - Atlanta, Greater MSA

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

CBSA

Atlanta- Sandy

Springs- Marietta, GA

8,376 5,521,582 2,028,400 $60,590 2,223,339 8.90%

SquareMiles



•The $164 million sale to JP Morgan Asset Management of a 50% stake in Terminus 100 and 200 with their combined total of 1.2 million SF has been confirmed in the Buckhead submarket.

•Ponce City Market, a Mixed-Use $200+ million redevelopment of the 2 million SF former Sears Roebuck & Company, is being developed at 675 Ponce de Leon Ave. Atlanta’s Old Fourth Ward, is under way by co-developers Jamestown Properties & Green St. Properties.

•Notable new construction planned includes: 100 Northpark Office space at 1.5 million SF: Executive Park Dr., Mixed-Use Office at 850,000 SF: and Village Capital Partners Redevelopment, East Paces Rd. at Buckhead Ave., Atlanta, Office space at 560,000 SF.

•Currently, there are 4,735 market rate Apartments under construction across the metro Atlanta area in 18 projects.

•Highwoods Properties, Inc. has begun selling most of its Atlanta Industrial portfolio including at least 1.5 million SF and up to 18 buildings.

•The Atlanta Class A Office market has fared better in the period of recovery than the lower tier. Here, flight to quality, an effect of Class A rental concessions, has been a contributing factor.

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GA - Columbus

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialKennon, Parker, Duncan & Key

Vacancy


Absorption

Rental Rates

www.commericalcolumbusga.com

5670 Whitesville Rd. Columbus, GA 31904(706) 256-1500

CONTACT

CBSA

Columbus, GA-AL

1,937 293,977 117,712 49,432 93,485 9.30%

SquareMiles



•The sweetest thing in the Columbus, GA market to report is job retention. Hostess Brands has restarted its Twinkies plant in Columbus, with 200 jobs retained.

•The US Army announced that the Third Army Brigade of the Third Infantry Division will remain at Ft. Benning, keeping over 7,000 jobs in the local market, and building off their $3.5 billion investment in the community after the latest round of base realignments and closures.

•Area Development Magazine marked Columbus as a Top 50 for “Workforce Indicators in Economic and Job Growth” in 2013.

•The longest urban white water course in the world opened Memorial Day weekend and through the first two months of operation, had over 4,000 paid rafting trips. There has been a corresponding uptick in business interest in the downtown area with new restaurants and businesses opening.

•Cross Country Plaza, the first mall in the Columbus market, sold for $36.6 million to Coro Realty Advisors. They took advantage of a redeveloped center with new Publix, TJ Max and Goodwill Industries leases.

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27

GA - Dalton / Whitfield County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialKinard Realty

Vacancy


Absorption

Rental Rates

www.cbcnorthgeorgia.com

704 South Thornton Ave. Dalton, GA 30720(706) 226-5182

CONTACT

CBSA

Dalton, GA 634 134,366 46,872 46,511 64,498 11.60%

SquareMiles



•Engineered Floors, LLC, a carpet manufacturer, will invest $450 million and create 2,000 new jobs over the next 5 years in Northwest Georgia. Plans are to construct manufacturing and distribution facilities in Whitfield County.

•Carbondale Business Park is a shovel ready Industrial and Commercial site located on I-75, ready for manufacturing, warehousing and distribution. Publicly owned available lots range from 3 to 50 acres with all utilities.

•Dalton / Whitfield has a labor force of over 1 million within driving distance and the 3rd largest manufacturing community per capita in Georgia.

•Dalton / Whitfield is an Archway Partnership community. The Archway Partnership is a University of Georgia outreach platform to deliver a full range of higher education resources to address economic and community development.

•Dalton State College has approximately 6,000 students and offers 10 Bachelor Degrees. DSC, an NAIA member school, is beginning intercollegiate athletics in the Fall of 2013 with Men’s Basketball, Men’s & Women’s Tennis, Golf, Cross Country, Women’s Volleyball and Competitive Cheerleading.

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GA - Hinesville / Fort Stewart

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHoltzman Realtors

Vacancy


Absorption

Rental Rates

www.cbcholtzman.com

730 General Stewart Way Hinesville, GA 31313(912) 408-4040

CONTACT

CBSA

Hinesville- Fort Stewart,

GA

920 73,844 26,115 $48,667 12,145 10.20%

SquareMiles



•The Hinesville / Fort Stewart MSA was the third Fastest Growing MSA in the U.S. in 2011 and 2012.

•The Hinesville / Fort Stewart MSA is among the top four leaders in employment growth rates since pre-recession.

•Fort Stewart is the largest military installation east of the Mississippi River and is 5th in the nation in military population.

•Fort Stewart has a $5.2 billion economic impact on the region as of July of 2012.

•Liberty County is centrally located between four deep water ports, two of which are within 45 minutes of the site.

•Liberty County has a highly disciplined, motivated and trained military retiree work force.

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28

GA - Lake Oconee Trade Area

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLake Country

Vacancy


Absorption

Rental Rates

www.cbclakecountry.com

1020 Greensboro Rd. NE Eatonton, GA 31024(706) 485-0124

CONTACT

CBSA

Milledgeville, GA

732 55,258 23,615 38,954 14,162 13.30%

SquareMiles



•Now under construction: Thrive Senior Living has partnered with Lake Oconee area residents to elevate the standard of senior living with an innovative new concept in Assisted Living and Memory Care.

•St. Mary’s new hospital is now under construction and is scheduled to open in Q1 of 2014.

•New construction in the residential market is increasing along with residential absorption rates on existing homes.

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GA - Marietta

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Marietta

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Atlanta- Sandy

Springs- Marietta, GA

8,376 5,521,582 2,028,400 60,590 2,223,339 8.90%

SquareMiles



•Porsche Cars North America is moving to Hapeville, GA to the former Ford plant. Plans include: 150,000 SF Office tower, restoration shop, a fine dining restaurant and a 1.6 mile tract for visitors to test drive the new Porsche 911s.

•Vacancy is falling in the Office, Industrial and Retail sectors. Reason being, there is little to no new construction in the pipeline, and activity has increased.

•“Buckhead Atlanta” is on track. The Mixed-Use development will include 300,000 SF of upscale Retail stores, Restaurants, and Cafes, 100,000 SF of Office and 370 Luxury Residences.

•For 2013, the residential Atlanta market continues to improve with gradual increases in home prices and sales. Inventory continues to decline, and foreclosure inventory continues a significant decline.

•The market in general is slightly improving. Multi-Family remains strong with unit prices up and cap rates down.

•The Atlanta Falcons will have a new stadium open for the 2017 season. The plans include a retractable roof and 70,000 seats at a cost of about $1 Billion.

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29

GA - Middle Georgia

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialEberhardt & Barry

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercialeb.com

990 Riverside Dr. Macon, GA 31201(478) 746-8171

CONTACT

CBSA

Macon, GA 1,725 232,119 89,721 $47,145 83,398 9.80%

SquareMiles



•In August, Tractor Supply will occupy their new 750,000 SF regional distribution facility built along Interstate 75.

•The expansion of missions at nearby Robins Air Force Base has caused unique job growth in the defense contractor sector.

•Three very large Apartment complexes are in various stages of construction in the market area, which combined will add another 1,000 new units in 2013.

•Entry level homes are again under construction in the Robins AFB market.

•Because Macon has been identified as a premier logistics hub, many small and medium size distributors have moved into the market, absorbing large cumulative amounts of space, causing remaining footage to increase in value.

•Macon was home to the Mound Builder Indians, and as a result, there are world class examples of their ancient mounds and subterranean meeting rooms in the OCMULGEE National Monument.

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GA - Savannah

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPlatinum Partners

Vacancy


Absorption

Rental Rates

www.cbcplatinum.com

6349 Abercorn St. Savannah, GA 31405(912) 790-6999

CONTACT

CBSA

Savannah, GA 1,359 347,453 130,609 $55,567 129,296 8.80%

SquareMiles



•158 new businesses opened Q1 in Chatham County.

•26 more businesses opened than closed in Savannah each month since 2011.

•Savannah Office vacancy rates are less than 10%.

•Savannah Industrial vacancy rates are less than 12%.

•Whole Foods 35,000 SF neighborhood center opened more than a year ahead of schedule.

•The Savannah residential market is now in seller’s territory with less than 6 months of market inventory.

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30

HI - Honolulu

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Hawaii

Vacancy


Absorption

Rental Rates

www.cbcpacific.com

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

CONTACT

CBSA

Honolulu, HI 600 910,677 311,782 $67,192 365,718 4.70%

SquareMiles



•Hawaii’s economy remains healthier than the continental U.S. with tourism posting an all time high in visitor arrivals of 8 million. Total visitor expenditures were $14.3 billion in 2012.

•Two new department stores to enter the Hawaii Market. Bloomingdales and Saks 5th Ave to open in 2015.

•As of May 2013, statewide unemployment decreased to 4.7%.

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ID - Boise, Idaho

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT

Vacancy


Absorption

Rental Rates

www.coldwellidaho.com

6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121(208) 870.6933

CONTACT

CBSA

Boise City-Nampa, ID

11,788 610,611 224,823 $55,100 232,386 6.10%

SquareMiles



•Many national retailers are opening their first stores in the Boise market including Trader Joe’s currently under construction in downtown Boise. Multiple restaurants are opening their first Idaho locations at The Village at Meridian including Toby Keith’s I Love This Bar & Grill and Yard House.

•Absorption was flat in the first half of 2013, but transaction volume remained healthy. Net absorption should improve in the second half of the year as construction is completed on a new Walmart in Meridian and at The Village at Meridian, where a movie theater and numerous restaurants will open in the coming months.

•Retail construction is on pace for over half a million SF in 2013, much of which is being built with retailer commitments in place.

•The housing market continues to heat up, with Idaho home prices rising at the fourth fastest rate in the nation, according to the Federal Housing Finance Agency. Interest rates have remained low and demand outweighs limited supply, creating competition among buyers.

•Idaho’s economy continues to migrate away from durable goods manufacturing (such as electronics and industrial equipment). This is a service-driven economy. Growth is not in retail trade jobs, but in information, financial, business, education and health services.

•Idaho has added about 36,000 jobs (an increase of 6.1%) and about a quarter of these since Q4 2012.

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31

ID - Coeur d’Alene

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) 765-9160

CONTACT

CBSA

Coeur d’Alene, ID

1,245 140,628 53,154 50,618 49,226 7.00%

SquareMiles



•There has been new construction in Retail due to regional / national retailer growth.

•The market has new Multi-Family construction.

•Positive absorption of Office, Retail and Industrial vacancies.

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ID - Eastern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT

Vacancy


Absorption

Rental Rates

www.coldwellidaho.com

6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121(208) 403-1973

CONTACT

CBSA

Pocatello, ID 2,519 120,040 42,871 $40,842 28,908 6.80%

SquareMiles



•ULTA opened in July 2013 in Pocatello, Idaho (12,240 SF).

•Vacancy has remained static.

•Pawn One is remodeling a 11,000 SF space, opening September 2013.

•Auditorium District announced a 43,000 SF building for Knudsen Corner.

•Eastern Idaho is a best kept secret.

•The market is the gateway to Yellowstone and offers world class fishing.

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32

IL - Bloomington / Normal

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

CBSA

Bloomington- Normal, IL

1,184 168,918 70,687 $59,825 69,980 7.50%

SquareMiles



•The overall market improves through 1st half of 2013.

•The local jobless rate maintains the lowest levels in the state, as an indicator of local economic strength.

•The local housing market is up 14%.

•The Retail market remains healthy.

•The Office market improved with increased demand.

•Investment properties are scarce.

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IL - Champaign / Urbana

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

CBSA

Champaign- Urbana, IL

1,923 227,494 97,325 $47,851 80,156 8.70%

SquareMiles



•Major student housing projects have been approved for Campustown. A 16-story Apartment tower will be built at 4th & Green; a 14-story tower is under construction at 6th & Green; and a 52-unit Apartment building is under construction at 2nd & Green.

•Also in Campustown, a Mixed-Use project at 6th & Green with two 12-story towers will include Apartments, Retail and a Marriott hotel. Construction is slated to take 2 years.

•The University of Illinois continues work on its Ikenberry Commons dorm project and the Electrical & Computer Engineering building on campus.

•Interest in downtown Champaign remains high. A Hyatt Place Hotel is under construction at Neil & Church; it will be the first downtown Hotel in decades.

•The Retail market continues to improve, with a few new spec buildings under construction. The relocation of some major car dealerships to north of I-74 has created more Retail opportunities in the North Prospect Retail corridor and the South Neil St. Retail corridor.

•Construction continues on Easton-Bell’s new 800,000 SF facility in Rantoul.

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33

IL - Chicagoland

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Northbrook

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Chicago Naperville Joliet, IL-

IN- WI

7,212 9,617,804 3,484,370 $66,775 4,186,171 10.10%

SquareMiles



•The Chicago Industrial market continued to show improvement through the first half of 2013. There was 4,800,000 SF of positive net absorption and the vacancy rate dropped to 9.1%. Some of the large leases signed in the 1st half of 2013 were by Owens & Miner for 515,000 SF and DHL for 459,000 SF.

•The vacancy rate for Office, Retail and Industrial all decreased in the 1st half of 2013. Even with an increase in new construction, the vacancy rate dropped. There are new projects for all three property types currently under construction that will be delivered this year.

•There has been 2.265 million SF of new Industrial space built in 2013 with another 630,000 SF under construction; 324,000 SF of new Office space delivered with another 1.9 million SF under construction; and 887,000 SF of new Retail space built with another 1.5 million SF under construction.

•The residential market continues to improve. Sales of single family homes have increased and prices are rising. The Apartment market also continues to be strong with low vacancies. However, rents are not increasing at the same pace as they had been in the previous quarters.

•All commercial property types continue to show improvement. Values of properties continue to increase, and cap rates are decreasing for most commercial property types.

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IN - East Central Indiana

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLunsford Real Estate

Vacancy


Absorption

Rental Rates

www.cblcre.com

3601 W. Bethel Ave. Muncie, IN 47304(765) 289-2228

CONTACT

CBSA

Muncie, IN 393 115,425 48,625 $40,907 42,446 10.50%

SquareMiles



•$50 million Student Housing and Retail project was approved.

•Townsend Corporation purchased a 64,000 SF Office building.

•High visibility gateway Office in CBD is being revitailized.

•Residential listing volume remains at historic lows.

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34

IN - Indianapolis

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

CBSA

Indianapolis, IN

3,863 1,755,394 690,844 $60,003 787,836 7.90%

SquareMiles



•Office vacancies have held steady through the first two quarters of 2013. The overall market has stalled at 9.3%, with suburban vacancies lower than CBD.

•Geico signs the largest lease to start the year. Geico leased 109,000 SF on the northside of Indianapolis.

•Industrial vacancy rates have lost momentum as they are staying level with 2012 year end at 6.7%. But, with 616,000 SF of new space delivered, absorption has increased to maintain those levels. Indianapolis is scheduled to deliver an additional 818,000 SF this year.

•The trend is clear, Retail vacancy rates moved slightly over the first 6 months of the year, but leveled at year end 2012 to stay at 7.3%. Rates are dropping slightly to encourage new tenants to take hold in the Indianapolis market.

•Multi-Family in the CBD has been the strongest sector this year. New deliveries include, a new tower being built by Flaherty and Collins, along with several other projects, makes Multi-Family standout from the rest.

•Overall, the haze of the recession seems to be lifting in Central Indiana. Companies and corporations are still utilizing planning and analysis extensively before leaping into the market, but after the last four years, it may be the best practice.

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KS - Garden City

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

CBSA

Garden City, KS

1,302 42,609 13,697 $43,008 13,558 4.70%

SquareMiles



•Menard’s opened in May of 2013.

•The trade area is expanding.

•There is a high need for Multi-Family product.

•There is a shortage of homes.

•This area is showing signs of becoming a very progressive market.

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

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35

KS - Kansas City Meto Area

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFishman & Company

Vacancy


Absorption

Rental Rates

www.cbcfishman.com

1948 E. Santa Fe Olathe, KS 66062(913) 782-9000

CONTACT

CBSA

Kansas City, MO-KS

7,857 2,076,653 819,900 $60,301 914,989 6.60%

SquareMiles



•Kansas has lowered income taxes on small businesses.

•Nonresidential building permits in Johnson County are up 79% from last year.

•Several Retail projects are underway in the Metro area.

•Federal sequestration is being watched closely for negative economic impact.

•The Apartment market continues to be hot.

•Total private employment in the Metro area is up 4,500.

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KY - Lexington

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcMahan Co.

Vacancy


Absorption

Rental Rates


444 Lewis Hargett Circle Suite 240 Lexington, KY 40503(859) 219-0080

CONTACT

CBSA

Lexington, KY 1,479 473,956 202,332 $53,106 220,981 6.00%

SquareMiles



•A new 500,000 SF Retail development is scheduled to break ground in fall 2014.

•Class A Apartments sell for record $120,000 per unit.

•The Lexington-Fayette unemployment rate dropped to 6%.

•The housing market is up over 20% in 2013.

•Toyota Motor Mfg. announced a new line for the Lexus ES model.

•Centre Point TIF funding was approved for new CBD Office and Hotel.

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36

KY - Louisville Metro

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcMahan Co.

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Louisville Jefferson

County, KY-IN

4,135 1,263,217 506,857 $54,741 549,941 8.50%

SquareMiles



•Louisville’s housing market is second in the nation (Forbes); Louisville is second in nation in job growth (U.S. Bureau of Labor Statistics). New job creators: UPS National Airhub, Ford plants, G.E. Appliance Park, YUM! Brands, medical industry (Humana and U of L Nucleus Innovation Park), and Amazon.com.

•Investor interest in Louisville Multi-Family remains strong; average cap rates range from 6-6.5% for Class A to 8.5-9% for performing Class C. Overall occupancy increased to 96% for Class A, 92% for Class B and 95% for Class C. A significant number of sales closed in 2011 and 2012. New construction is underway.

•Louisville Retail continues to recover as the national economy rebounds. Newcomers such as Nike Outlet, Trader Joe’s, Urban Outfitters and, in 2013, Cabela’s, a new Cinemark Theatre, Nordstrom Rack and others are leading the way.

•Louisville Industrial has steady net absorption, with growth factors such as ecommerce distribution, shipping temperature sensitive pharmaceuticals, and supplying the two Ford plants. Vacancy is below 7%. Developers are considering spec buildings.

•The Louisville Office market has stabilized, but occupancy is uneven: for Class A, 7.8% vacancy in east suburbs, 16.1% downtown. Class B/C is 17.4% overall.

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KY - Southern

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

CBSA

Bowling Green, KY

848 121,646 50,840 $46,805 50,727 8.10%

SquareMiles



•National Corvette Museum began construction on a 184 Acre High Performance Dual Raceway Motorsports Park.

•Big-box retailers are expanding in the area with a new Meijer and Bed Bath & Beyond.

•Vacancy rates have dropped as new businesses open or expand into existing facilities.

•Residential existing and new construction home sales are up.

•Multi-Family construction is at an all time high with over 1,500 units currently under construction.

•Automobile Manufacturing and ancillary business continue to expand in the region.

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37

LA - Lafayette

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

CBSA

Lafayette, LA 1,010 264,966 101,487 $54,248 139,997 6.00%

SquareMiles



•The market continues to grow in all commercial sectors in 2013. Closed transactions are on track to exceed last year’s great year.

•New Industrial parks continue to come on line with both speculative and pre-sold buildings.

•The demand for both Office and Retail has increased in the first half of the year.

•Residential new construction starts are at a record pace, and days on the market for both new and existing homes are at record lows.

•Strong ties to both offshore and land exploration of oil and natural gas drives the market to new levels. Expansions of existing facilities and new manufacturing facilities continue to add high paying jobs and keep unemployment at or near zero, statistically adjusted.

•The Medical Office market along with new hospital facilities has increased the number of doctors and medical personnel in the market, which has increased the luxury residential sales.

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LA - New Orleans

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

CBSA

New Orleans- Metairie-

Kenner, LA

3,153 1,230,886 469,474 $58,413 458,428 7.90%

SquareMiles



•Costco is opening its first Louisiana location in New Orleans this fall.

•Office vacancy continues to increase as large energy groups like Shell and Chevron leave the Central Business District for Houston and suburban Office parks.

•The $2.2 Billion University Medical Center & VA Hospital complex is well underway on 67 acres of MidCity New Orleans.

•Residential supply has dropped to below 2006 levels, and property values should begin to appreciate given increased demand.

•New Orleans is repositioning itself as a technology hub as it moves away from the energy sector which has moved west and north in the past few decades.

•New Orleans has more Restaurants open in 2013 than they did prior to Hurricane Katrina.

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38

ME - Midcoast and Southern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSoundVest Properties

Vacancy


Absorption

Rental Rates

www.soundvest.com

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

CONTACT

CBSA

Rockland, ME 366 40,753 23,744 $52,132 15,971 5.80%

SquareMiles



•Retail development is on the rise with the new Super Wal-Mart. Tractor Supply development is scheduled for opening in November of 2013.

•Due to the continuing national media exposure, Midcoast Maine is enjoying an influx of people seeking to move into the immediate area, resulting in our local economy seeing improvements over the previous twelve month period.

•170,000 SF Retail development will be completed in November, 2013.

•Number of residential units sold so far this year is up 21.8%.

•The Midcoast of Maine continues to draw national media attention with national TV coverage of a number of festival events, lifestyle and oceanfront location.

•Many seem to miss the fact that the trade area is comprised of 114,000 residents.

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MI - Northern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchmidt, Realtors

Vacancy


Absorption

Rental Rates

www.cbgreatlakescommercial.com

522 E. Front St. Traverse City, MI 49686(231) 929-2300

CONTACT

CBSA

Traverse City, MI

1,696 142,428 55,301 51,430 53,561 7.80%

SquareMiles



•The market appears to have a nice balance of supply and demand.

•There is continued growth in new construction for user buildings.

•The population continues to grow.

•A very good Residential market provides consumer confidence.

•There is continued growth in the Healthcare industry.

•The Northern Michigan tourism market continues to expand.

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39

MI - Western

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchmidt, Realtors

Vacancy


Absorption

Rental Rates

www.cbgreatlakescommercial.com

456 E. 16th St. Holland, MI 49423(616) 396-8649

CONTACT

CBSA

Holland- Grand Haven,

MI

566 262,667 92,703 60,218 111,547 7.20%

SquareMiles



•Grand Rapids welcomes Cabela’s as the latest new retailer giant.

•Vacant Industrial inventory of leased and purchased properties is at a 5 year low.

•Industrial expansions are up by 50% from 2012, and new home construction and lot sales match 2006 levels.

•Home sales are double that of 2011, and prices have nearly returned to the pre-slump level of 2007.

•The Office market has not enjoyed the recovery of Retail and Industrial markets.

•The West portion of Michigan is fortunate to have a great mix of industry, tourism, and agriculture spurring its economy. Employment is at a record high.

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MN - Central

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialOrion Real Estate

Vacancy


Absorption

Rental Rates

www.cbcorion.com

630 First St. S. Waite Park, MN 56387(320) 251-1177

CONTACT

CBSA

St. Cloud, MN 1,753 189,957 73,818 $54,959 91,676 5.40%

SquareMiles



•Construction is nearing completion for Phase I of the Herb Brooks National Hockey & Event Center.

•Transactional activity is picking up in all property sectors. There is strong demand from buyers wanting to secure top locations and to capitalize on low interest rates.

•Numerous Multi-Family buildings were recently completed, and several are currently under construction. Additionally, many institutional building projects are in progress.

•The residential housing market is strong. Inventory is low, and home prices are rising.

•The leasing market is picking up with tenants securing top locations.

•Central MN market consists of 200,000 +/- MSA. Major employment sectors include: Manufacturing, Agricultural, Education and Medical.

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40

MN - Mankato

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFisher Group

Vacancy


Absorption

Rental Rates

www.cbcfishergroup.com

1961 Premier Drive, Ste. 404 Mankato, MN 56001507-625-4715

CONTACT

CBSA

Mankato- North

Mankato, MN

1,205 93,650 39,391 $51,381 49,122 4.50%

SquareMiles



•Major medical office expansion continues.

•Multi-family developments are adding 100+ units.

•Retail industry continues to show strength.

•Transportation network continues to improve with extension of County Road 17 and connecting County Road 12 to Highway 83.

•Regional growth with major national retailers expanding and moving into the area.

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MN - Minneapolis Metro

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

CBSA

Minneapolis- St. Paul-

Bloomington, MN-WI

6,063 3,286,547 1,267,913 $71,301 1,695,892 5.10%

SquareMiles



•Downtown: Ryan Companies is negotiating terms of a proposed $400 million Mixed-Use development that complements the new Vikings Stadium planned for city’s downtown.

•Redevelopment: Presbyterian Homes & Services heads into final stretches of construction on the $125 million promenade of Wayzata.

•Jobs: 500 high skilled jobs will be created over 5 years as Emerson Electric Co. will convert the former ADC Telecommunications site in Shakopee into an engineering and manufacturing center.

•Industrial: Hyde Development finalized the purchase of the state’s largest Industrial building that sits on 122 acres in Fridley. Plans for the Superfund site is for a $140 million sprawling business campus.

•Development: With the tightening supply of Industrial space in Dakota County, developers are moving ahead with new Industrial building projects.

•Recovery: Recently released residential permit statistics show the new home industry in the Twin Cities continues to improve. Monthly and year-to-date permits and planned units are at their highest level since 2007. Year to date permits are up by 37%, while planned units are 26% higher.

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41

MS - Gulfport / Biloxi

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlfonso Realty, LLC

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Gulfport- Biloxi, MS

1,503 240,010 94,854 $53,669 86,844 9.00%

SquareMiles



•A new minor league baseball stadium was approved. The Biloxi City Council passed resolution calling for the city to purchase a $21 million general obligation bond toward construction a multi-million dollar on land leased from the Beau Rivage Resort & Casino. The 7,000-seat stadium would cost about $35 million and will be constructed in what is now the employee parking lot across the street from the casino parking garage.

•New casinos are on the horizon.

•New construction is picking up.

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MO - St. Joseph

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialGeneral Properties

Vacancy


Absorption

Rental Rates

www.cbcommercialgeneral.com

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

CONTACT

CBSA

St. Joseph, MO-KS

1,661 127,090 51,821 $44,333 48,146 5.80%

SquareMiles



•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 in 2012.

•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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42

MT - Billings

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCBS

Vacancy


Absorption

Rental Rates

www.cbcmontana.com

1215 24th St.West Billings, MT 59102(406) 656-2001

CONTACT

CBSA

Billings, MT 4,683 155,673 63,905 $53,585 69,806 3.90%

SquareMiles



•Three new hotels are under construction; over 300,000 SF of Retail is under construction; nearly 60 acres of Multi-Family Land is under development.

•Vacancy in Industrial and Multi-Family is falling due to energy related activity in the Bakken Formation.

•Residential sales of existing inventory are up over 20% YTD.

•Two new car dealerships are under construction with new truck sales hitting record highs.

•A new 2 story library is opening in 2013.

•A new 40 acre FedEx Hub is under construction.

•The unemployment rate for the area is 3.9%.

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NE - Lincoln

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

CBSA

Lincoln, NE 1,414 299,958 126,751 $55,280 142,514 4.00%

SquareMiles



•Pinnacle Bank Arena will be completed in Fall 2013 and will serve as a center point for the West Haymarket redevelopment project. Hotels, Retail, Offices, and upscale Residential Housing are currently being developed in the 400 surrounding acres.

•CNBC’s Top States for Business 2013 ranks Nebraska as #4.

•Lincoln was named the happiest place in the United States by the 2012 Gallup-Healthways Well-Being Index.

•Memorial Stadium announced an expansion of the east stadium, which will allow for around 3,000 more fans to obtain season tickets to Nebraska football. Memorial Stadium is the third largest city in Nebraska on game days.

•The Nebraska Innovation Campus is a public and private research campus being developed by the University of Nebraska-Lincoln and is currently under construction. It will contain 2 million SF of space with 500,000 SF completed within 5 years.

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43

NV - Reno / Sparks

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialClay & Associates, Inc

Vacancy


Absorption

Rental Rates

www.cbcreno.com

5011 Meadowood Circle Suite 201 Reno, NV 89502(775) 829-5900

CONTACT

CBSA

Reno- Sparks, NV

6,606 420,676 164,527 $61,308 208,488 9.80%

SquareMiles



•Galaxy Imax Theater is set to open Q4 at Legends Sparks Marina.

•Fallas Paredes opened in 78,000 SF.

•H & M to open in Meadowood Mall.

•Industrial speculative construction returned to the market as SJS CRE of Deerfield, IL broke ground on a 524,000 SF Warehouse in the Tahoe Reno Industrial Center, the first of its kind since 2008.

•A lack of homes under $200,000 is causing a slight decrease in Multi-Family vacancy.

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NJ - Central & Northern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFeist & Feist Realty Corp.

Vacancy


Absorption

Rental Rates

www.feistandfeist.com

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

CONTACT

CBSA

NY- Northern NJ- Long

Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 8.20%

SquareMiles



•Bayer Corporation moved in to the former Bell Labs location in Whippany, NJ.

•Vacancy rates have been declining slightly over the last 3 quarters as landlords are becoming more flexible with how they are positioning their assets. There have been non-standard Office users such as Charter Schools and Day Cares locating in Office buildings.

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44

NJ - Morris County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Morris Plains

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 8.20%

SquareMiles



•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 - Northern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Madison

Vacancy


Absorption

Rental Rates

www.cbcnrtnewjersey.com

175 Park Avenue Madison, New Jersey 07940(973) 407-5480

CONTACT

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 8.20%

SquareMiles



•AMAZON to open a 950,000 SF warehouse in Robbinsville NJ.

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

•There are many new Multi-Family projects which are shovel ready or currently under construction.

•Residential sale prices and the number of sold units have increase substantially over 2012.

•The State of New Jersey is giving incentives to attract new business to the state and retain those companies who are currently doing business here.

•Contractors have won bids to repair several of New Jersey’s major bridges.

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45

NM - Albuquerque / Bernalillo County

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

CBSA

Albuquerque, NM

9,288 863,887 333,497 $49,381 313,234 7.80%

SquareMiles



•Gordman’s recently opened it first store in Albuquerque at Cottonwood Commons in northwest Albuquerque.

•The New Mexico Legislature recently approved a “single sales factor” option for corporate income taxes.

•NM Legislature recently approved a reduction on the corporate income tax rate to 5.9% over the next 5 years.

•Eclipse Aviation will deliver its new Eclipse 550 in Q3 of 2013.

•Retail continues to come back with new entries into the market, including the first IMAX Theatre.

•Virgin Galactic will start commercial flights into outer space in early 2014.

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NY - Long Island

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialRosner & Associates

Vacancy


Absorption

Rental Rates

www.cbcli.com

3124 Expressway Dr. S Islandia, NY 11749(631) 232-4400

CONTACT

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 8.20%

SquareMiles



•Suffolk County’s largest Office lease deal was made with Reliance First Capital, LLC, 29,080 SF at 201 Old Country Rd., Melville.

•Nassau County’s largest Office lease deal was Valley National Bank taking 21,334 SF at Two Jericho Plaza, Jericho.

•Suffolk County’s largest Industrial lease deal was with GPlex Direct Mail Services for 33,800 SF at 194 Morris Ave., Holtsville.

•Nassau County’s largest Industrial lease deal was with American Security Shredding for 88,000 SF at 3563 Maple Ct., Oceanside.

•Long Island’s largest Industrial sale YTD is the 160,472 SF Seaview Commerce Center in Port Washington.

•The most notable Long Island Office Sale YTD was a 130,000 SF Woodlands Office Park in Hauppauge.

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46

NY - New York City

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcalliance.com

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

CONTACT

CBSA


Island

6,726 19,124,092 7,086,346 $65,253 7,711,074 8.20%

SquareMiles



•Notable Office lease signings in 2013: Simpson Thacher & Bartlett LLP 522,862 SF (Midtown); Yahoo! Inc. 176,201 SF (Midtown); Facebook 156,948 SF (Midtown); Morgan Stanley 148,421 SF (Midtown); AppNexus 128,605 SF (Midtown).

•The Office vacancy rate in the New York City market area increased to 7.3% at the end of Q2 2013.

•Net absorption for the overall New York City Office market was negative 750,558 SF in Q2 2013.

•The average quoted Office rate within the class A sector was $57.42 at the end of Q2 2013, class B $47.27, and class C rates were $40.58.

•Total Office building sales activity in 2013 was up compared to 2012. In the first three months of 2013, the market saw 13 Office sales transactions with a total volume of $2,234,277,000.

•Total Office inventory in the New York City market area amounted to 547,270,438 SF in 3,916 buildings at the end of Q2 2013.

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NC - Greensboro / Guilford County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialTriad, Realtors

Vacancy


Absorption

Rental Rates

www.cbctriad.com

1505 Westover Terr. Greensboro, NC 27403(336) 288-8957

CONTACT

CBSA

Greensboro- High Point,

NC

2,003 718,798 293,024 48,894 327,852 9.70%

SquareMiles



•Investors are starting to look again for investment properties.

•The Retail market seems to be improving.

•New Multi-Family development projects are underway.

•Some new businesses are beginning to move to the Triad area.

•The healthcare industry continues to grow and expand facilities throughout the Triad.

•Home sales are up and inventory is short in some price points.

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47

NC - Piedmont Triad

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialTriad, Realtors

Vacancy


Absorption

Rental Rates

www.cbctriad.com

285 S. Stratford Rd. Suite 251 Winston-Salem, NC 27103(336) 748-5363

CONTACT

CBSA

Greensboro- High Point,

NC

2,003 718,798 293,024 48,894 327,852 9.70%

SquareMiles



•VA Clinic to open in Kernersville.

•FedEx Ground is expanding.

•Ashley Furniture is expanding in Davie County.

•Ruger is expanding to Mayodan, bringing 500 jobs.

•The residential market is on the rise.

•This area offers perfect logistics for the East Coast.

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NC - Wilmington

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSun Coast Partners

Vacancy


Absorption

Rental Rates

www.cbcsuncoast.com

1430 Commonwealth Dr. Suite 102 Wilmington, NC 28403(910) 350-0925

CONTACT

CBSA

Wilmington, NC

1,924 357,853 151,270 50,107 126,764 9.40%

SquareMiles



•Wilmington Dermatology moves to Mayfaire.

•Retail occupancy rates on the rise, as there is no new construction.

•More apartments are being built, especially in the student housing sector.

•Residential sales are moving up along with average sales price.

•Interest is growing in most sectors with the exception of Warehouse and Industrial.

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48

ND - Fargo / Moorhead

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

CBSA

Fargo, ND-MN

2,810 202,280 86,119 $53,008 105,993 3.60%

SquareMiles



•Manufacturing of agricultural equipment remains a large export for this area.

•Due to the increase in residential building, building material companies have needed more space which in turn has lowered vacancy rates.

•Developers continue to build Multi-Family properties in Fargo / Moorhead. The vacancy rate is approximately 3%, and the market is adding about 1,000 units this year.

•New home construction continues to be strong.

•The market is seeing some positive effects of the oil boom out in the western portion of North Dakota. Investors look at the Fargo area as a stable economy and are always looking to invest here.

•Fargo-Moorhead is a regional hub for Medical and continues to see growth in that sector.

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OH - Cincinnati

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

CBSA

Cincinnati, OH 4,398 2,179,105 856,456 $58,530 932,959 7.40%

SquareMiles



•Cincinnati ranked eighth among the largest U.S. metro areas for corporate facility expansion and new construction projects for 2012, according to Site Selection Magazine.

•CVG was named the best regional airport in North America for the third consecutive year. The results are based on 39 airport service and product factors, including checking, arrivals, transfers and gate departures, gathered from 12 million passengers and covering 385 airports.

•Xavier University will start construction on University Station, a $54 million Mixed-Use development near its campus.

•Kroger has signed on to be the anchor tenant at the new Oakley Station development. The 145,000 SF store will be the largest Kroger in the country.

•UC Health plans to build a $135 million tower to expand West Chester Hospital.

•Cincinnati will be the new home of a 64 acre Mixed-Use development known as Liberty Center. Construction of the 1.1 million SF project will begin this fall and will be complete in the spring of 2015.

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49

OH - Cleveland

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHunter Realty

Vacancy


Absorption

Rental Rates

www.cbchunter.com

25101 Chagrin Blvd., Suite 170 Cleveland, OH 44122(216) 831-2911

CONTACT

CBSA

Cleveland- Elyria-

Mentor, OH

2,004 2,090,148 838,741 54,591 954,471 7.70%

SquareMiles



•The Cleveland Medical Mart became the Global Center for Health Innovations.

•Cleveland’s Retail vacancy is 8.5% (Down).

•Ernst & Young Tower’s 27,600 SF was leased.

•Western Reserve Partners expanded and renewed its lease.

•Cleveland’s Industrial vacancy is down to 8.7%.

•Rock Caesars Ohio acquired the Higbee Building and is planning a walkway.

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OK - Oklahoma City Metro

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

CBSA

Oklahoma City, OK

5,518 1,237,539 500,869 $57,129 502,994 5.40%

SquareMiles



•A new outlet mall (2 years old) is adding 34,000 SF of space.

•Vacancy is falling because of the strong aerospace and energy industry.

•OKC has more construction cranes operating now than any city in the US.

•B and C Apartments have become hot.

•Most sectors have limited inventory.

•OKC has the highest occupancy rate in Hotel rooms in the nation with the exception of Oahu, HI.

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50

OK - Tulsa, Oklahoma

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSelect

Vacancy


Absorption

Rental Rates


4408 S. Harvard Ave. Tulsa, OK 74135(918) 712-4311

CONTACT

CBSA

Tulsa, OK 6,281 935,612 372,484 55,286 395,237 5.90%

SquareMiles



•Local expansions added 7,715 new jobs. Baker Hughes had a $40 million expansion. Flight Safety opened a $42 million simulator plant. $350 million in private funding will be invested in Downtown Tulsa.

•While Warehouse vacancy is falling, the supply of Office space is rising.

•New commercial construction, with the exception of expansion of existing facilities, is at a stand still.

•Residential sales have increased 11.26% over 2012. Supply of inventory is down 27.45%. New construction sales for 2012 was 1,443.

•4,100 more new jobs exceeding a $50,000 annual salary were created. Bank financing is increasing in oil and gas production.

•Tulsa is a top city for low cost of living as it is #1 in the country for lowest cost of rent.

•There is a new emphasis on the Arkansas River Development Plan.

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OR - Portland

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMountain West Real Estate

Vacancy


Absorption

Rental Rates

www.cbcre.com

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

CONTACT

CBSA

Portland- Vancouver- Beaverton,

OR-WA

6,684 2,261,246 878,239 $58,563 952,611 7.50%

SquareMiles



•Office building sales activity in 2013 was up over 2012 with cap rates averaging 7.75%.

•Salesforce.com leased 116,500 SF at Synopsys Technology Park, accounting for nearly 50% of the quarter’s absorption total.

•Retail vacancy remained stable at 5.5% with over 104 million SF in the market.

•K-Mart closed two stores, and Orchard Supply Hardware opened two new locations of approximately 40,000 SF each.

•The Industrial market faced negative absorption of 756,798 SF with the moving out of Georgia-Pacific, Sealy Stearns and Benson Industries Inc.

•Georgia Pacific relocated within Rivergate Corporate Center from 204,550 SF to 402,250 SF in Phase II.

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51

OR - Salem

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMountain West Real Estate

Vacancy


Absorption

Rental Rates

www.cbcre.com

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

CONTACT

CBSA

Salem, OR 1,925 399,131 148,354 $49,102 119,269 8.70%

SquareMiles



•First American Title Company and Waddell & Reed executed leases in The Meridian for new commercial space.

•Several new medical Office projects are under construction including Boulder Creek and PacTrust Medical in South Salem.

•Ross Dress for Less opened in Salem Center, downtown Salem’s regional mall.

•Panera Bread will be under construction soon as a new South Salem restaurant with a drive-thru.

•Power Nissan auto dealership will be relocating from Market St. to Mission St. / Hwy 22 prior to year-end.

•The downtown Statesman Journal facility is available for sale as printing processes are moved out of town. They will be looking for new office space in the downtown area.

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OR - Southern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNW

Vacancy


Absorption

Rental Rates

www.cbcommercialnw.com

1744 E. McAndrews Rd. Suite J Medford, OR 97504(541) 772-1168

CONTACT

CBSA

Medford, OR 2,785 201,887 80,376 $48,826 74,943 10.00%

SquareMiles



•Pacific Retirement Services is moving to Downtown Medford.

•Retailers are leasing up Class A sites. Retail vacancy is decreasing.

•Owner / user building construction is on the upswing.

•Residential subdivision Land is being purchased.

•Economic optimism is increasing CRE activity.

•The Southern Oregon wine industry is becoming nationally recognized.

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52

PA - Northeastern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialTown & Country

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Scranton- Wilkes-

Barre, PA

1,747 549,920 233,775 45,396 245,015 9.50%

SquareMiles



•Commonwealth Health Systems is purchasing properties and businesses in the area.

•Mohegan Sun Casino is building a large hotel and convention center.

•Development of the Retail market continues to expand in Luzerne County.

•Prices are moderately rising, and inventory is declining as the market in this area improves.

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PA - Philadelphia, Northern Suburbs

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCBH

Vacancy


Absorption

Rental Rates

www.cbhcommercial.com

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

CONTACT

CBSA

Philadelphia- Camden-

Wilmington, PA-NJ-DE

4,630 5,979,545 2,318,224 $65,847 2,533,973 8.40%

SquareMiles



•Medical Office space absorption is up.

•Center City Philadelphia activity is fairly strong, but as you go north into suburbs, leasing and sales activity is slow.

•Tertiary markets like Bucks County, just north of Philadelphia, are negatively affected by slow growth of small businesses which are reluctant to hire or expand space.

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53

PA - Southwestern

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Pittsburgh

Vacancy


Absorption

Rental Rates

www.cbcnrtpittsburgh.com

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

CONTACT

CBSA

Pittsburgh, PA

5,280 2,355,582 991,049 $52,255 1,064,896 7.20%

SquareMiles



•The Office, Retail and Multil-Family vacancy rates in this area are lower than the national average.

•Marcellus Shale industry has helped keep the market strong.

•Office, Retail, Multi-Family and industrial developments are strong in this market.

•Pittsburgh was not hit as hard as other areas by the downturn in the economy. Now that the economy is recovering, this market is even stronger.

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SC - Charleston

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

CBSA

Charleston- North

Charleston, SC

2,591 665,272 262,007 $57,059 253,170 7.30%

SquareMiles



•Boeing continues to show long term commitment to Charleston in production, engineering and IT functions.

•Manufacturing and Distribution companies that rely on deep water ports are favoring Charleston over other Southeastern markets.

•Office demand is outpacing the local supply, which may lead to new development.

•There are very few high cap investment properties.

•The residential market is looking at double digit price increases and there has been another development boom.

•Charleston continues to appear in the top tier of per capita population growth projections.

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54

SC - Columbia

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

CBSA

Columbia, SC 3,701 751,082 300,796 $52,689 287,817 7.90%

SquareMiles



•Major tenant move-ins in 2013: Dana Corp 152,945 SF, Price Waterhouse 61,433SF, and Golfsmith 23,500 SF.

•Vacancies are falling due to little to no new construction across market segments. This, coupled with rates falling, has led to existing spaces being absorbed.

•New Construction in 2013: Industrial - one building of 3000 SF; Office - none; Retail - 3 buildings totaling 91,045 SF.

•Residential housing has seen sales increase, primarily with new construction as homes are being built for $60-$80 PSF, and resale prices are down 10 -30%. This has caused sales units to increase 20% +/-.

•The biggest change in the Columbia market in 2013 is expansion at the University of South Carolina and an influx of student housing.

•Ft. Jackson in Columbia is the US Army’s main production center for Basic Combat Training. The fort trains 50% of the Army’s basic training load, over 36,000 basic training and 8,000 advanced individual training soldiers every year.

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SC - Greenville

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCaine

Vacancy


Absorption

Rental Rates

www.cbccaine.com

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

CONTACT

CBSA

Greenville- Mauldin-

Easley, SC

2,002 644,419 263,044 $49,487 288,021 7.40%

SquareMiles



•Greenville was selected for first Cabela’s location in the Southeast, to be located at Magnolia Park. Tenants include Regal Cinemas, Rooms To Go and many other food and entertainment operations.

•BMW announced another sales record and a $900 million expansion to its plant. Also, a 400,000 SF Warehouse operation is planned adjacent to Charleston Inland Port.

•Further Hotel development is planned for CBD.

•Multi-Family development continues downtown with 160 units under construction in West End and another 200 units in the planning and approval stage.

•An 800 acre Industrial site on south side of town is being touted as a premier development site in the state. State site certification will be complete during Q3.

•Downtown Main St. Retail is buoyed by the arrival of Brooks Brothers and Anthropologie.

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55

SC - Myrtle Beach

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialChicora Real Estate

Vacancy


Absorption

Rental Rates

www.cbcommercialchicora.com

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

CONTACT

CBSA

Myrtle Beach- Conway-

North Myrtle Beach, SC

1,134 266,384 110,858 43,184 112,291 8.60%

SquareMiles



•A new Target opened at 544 and 17 bypass. The Tanger Outlet was expanded. 12,000 new college bedrooms were added at Coastal Carolina University. Additional new openings include: 20,000 SF Golfsmith store at Coastal Grande; 14,000 SF CVS at Carolina Forest; 2 new Bojangles, one at Carolina Forest and another at TPC Prince Creek.

•Vacancy is down due to better demand and very little new construction.

•New $200 million Myrtle Beach International Airport terminal has now finally opened.

•Foreclosures are clearing out, and standing inventory prices are improving.

•Seller attitudes are better.

•The golf market is still soft, but improving.

•The market is home to Myrtle Manor, a reality TV show on TLC Network.

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SC - Spartanburg

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

CBSA

Greenville- Mauldin-

Easley, SC

2,002 644,419 263,044 $49,487 288,021 7.40%

SquareMiles



•The SC Ports Authority held the groundbreaking for the Inland Port in Greer with completion expected fall of 2013. The $25 million center will take containers from the port of Charleston and deliver them by rail to the I-85 corridor and act as a distribution point to truck and air freight companies.

•The Inland Port, along with BMW and Michelin, has created great interest in the Industrial market, where inventory is low. Greer Economic Development and Spartanburg Economic Futures Group have had close to 200 inquiries and over 50 visits due to last year’s announcement of the Inland Port and BMW expansion.

•The largest transaction that occurred within the last year in the Spartanburg market is the sale of Amazon Distribution. The 1,015,740 SF Industrial building sold for $63,300,000, or $62.32 PSF (6.22% cap rate). Amazon continues to hire, adding another 100 jobs this fall.

•The downtown Apartment market continues to thrive with the completion of the Magnolia Lofts, a $2.7 million, 27 unit Apartment building, and construction is underway in the renovation of the 63 year old Schuyler Building, a 13 story building that will have 2 fitness centers, a penthouse, and coffee shops and Retail to complement the apartments.

•Purpose Built Communities teams up with various organizations to provide expertise and consulting in the planning of the mixed income housing and Mixed-use commercial redevelopment of the City’s northern downtown area.

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56

SC - Sumter

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCornerstone

Vacancy


Absorption

Rental Rates

www.cbccornerstone.com

38 N. Main St. Sumter, SC 29150(803) 778-1139

CONTACT

CBSA

Sumter, SC 665 104,624 39,583 45,494 33,348 9.90%

SquareMiles



•Continental Tire is nearing completion of their 1 million SF plant.

•The housing market is picking up.

•Starbucks and Aspen Dental were completed.

•The Georgia Pacific OSB plant started production.

•Caterpillar completed its expansion.

•Downtown revitalization is heating up.

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SD - Rapid City

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialLewis Kirkeby Hall RE

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

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

SquareMiles



•Wal-Mart opened a second store.

•Vacancy is minimal.

•New construction is on the rise.

•Units sold is up, and sellers are able to hold on price.

•The amount of sellers that are move-up buyers is on the rise.

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57

TN - Chattanooga Metro

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHamilton & Associates

Vacancy


Absorption

Rental Rates

www.hamiltoncommercial.com

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

CONTACT

CBSA

Chattanooga, TN-GA

2,089 526,490 211,265 $47,279 208,265 8.50%

SquareMiles



•A new Amazon distribution center opened, providing over 2,000 new jobs in the area.

•Volkswagen’s production has surpassed expectations. The company is considering expanding the plant to produce a new line of SUVs. Two shifts are operating in the existing plant, and a third shift is possible.

•Wacker Chemie AG is constructing a $1 billion facility in Bradley County. Initial employment will be approximately 500 highly skilled workers. The new integrated site is Wacker’s first polysilicon production facility outside Germany.

•A new 300 acre Industrial site has just become available in southern McMinn County, just across the Hiwassee River from Bradley County. The site has highway and railroad access. It is less than six miles from Interstate 75.

•Industrial sales and demand have increased over the last year while Retail activity remains virtually flat.

•The Cleveland / Bradley County area is home to 12 Fortune 500 companies. This market is positioned for tremendous growth in the next 5 years. In addition to the new and existing manufacturing facilities, many supporting suppliers are looking to relocate to the area.

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TN - East

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

CBSA

Knoxville, TN 1,857 702,994 297,456 $48,362 307,125 7.50%

SquareMiles



•Kimberly Clark moved its regional office from downtown Knoxville into a part of the former Goody’s corporate office complex in west Knoxville.

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

•Georgia-based Blanchard & Calhoun Commercial is planning up to 350 Apartment units, a 150 room hotel, and 225 units of student housing, plus Office and Retail space at the former Baptist Hospital site on the south side of the Tennessee River in Knoxville.

•The Residential market continues to improve with houses in the $400,000 and under price point in particularly high demand.

•Because the main campus of the University of Tennessee is located in Knoxville, the student housing market continues to expand with four major projects either announced or under construction.

•Knoxville is at the gateway to the Great Smoky Mountains National Park which has about 10 million visitors annually, making it the most visited national park.

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58

TN - Nashville

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialProfessionals

Vacancy


Absorption

Rental Rates


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

CONTACT

CBSA

Nashville- Davidson-

Franklin, TN

5,687 1,595,554 635,077 $56,636 725,719 7.10%

SquareMiles



•The new Nashville Convention Center is open.

•Tractor Supply Company’s new corporate headquarters is under construction in Brentwood.

•Life Point Hospital Group’s new corporate headquarters is under construction in Nashville.

•General Motors is investing $350 million to expand the Spring Hill Plant.

•Nissan is adding 900 jobs at the Smyrna plant.

•A new Hyatt Hotel is announced for Downtown Nashville.

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TX - Abilene

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPanian & Mash

Vacancy


Absorption

Rental Rates


2500 S Willis Abilene, TX 79605(325) 690-4040

CONTACT

CBSA

Abilene, TX 2,745 160,753 64,687 43,771 60,543 5.70%

SquareMiles



•The market is strong and steady.

•The local economy is diversified.

•There is strong influence from wind energy, oil and gas.

•There is strong influence from Dyess AFB, home of the B1 Bomber.

•Possible future growth from Cline Shell oil exploration just west of Abilene.

•Growth continues in the Medical area with the addition of Texas Tech Pharmacy and Nursing School.

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59

TX - Amarillo

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFirst Equity, Realtors

Vacancy


Absorption

Rental Rates

www.cbcamarillo.com

2101 S. Coulter Amarillo, TX 79106(806) 354-3500

CONTACT

CBSA

Amarillo, TX 3,660 247,964 97,166 $46,698 89,400 5.30%

SquareMiles



•Increased national and regional Retail space demand is bumping into a lack of available Class A Retail space.

•Soncy Market, anchored by United Supermarket is 50% preleased with occupancy not available until Q1 2014.

•Interest in single-tenant freestanding buildings or build-to-suit sites is brisk with multiple location choices available for those tenants or their developers.

•Retail sales are up 5.37% for the first 5 months of 2013.

•The single-family residential market is up nearly 10% through the first half of 2013 and could end up as the best year since 2007.

•Multi-Family occupancies and rental rates are strong currently, but new projects under construction or in the planning stage will most likely soften occupancy and rental rates by year end or early 2014.

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TX - Austin

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates

www.cbcunitedrealtors.com

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

CONTACT

CBSA

Austin- Round Rock,

TX

4,224 1,730,983 665,762 $57,641 622,577 5.80%

SquareMiles



•Forbes lists Austin with the sixth lowest unemployment rate of America’s Hardest Working Cities with the fifth highest hours worked per capita.

•New developer and health care provider makes its debut with the construction of a $135 million surgical hospital near State Hwy. 45 and La Frontera Boulevard.

•Austin was tagged by Daily Beast website as the most aspirational city in the nation. This means the Capital City attracts ambitious citizens. The rankings focus on employment growth, per capita income, growth among immigrant residents and quality of life factors, including traffic congestion.

•Cypress Real Estate Advisors, an active Multi-Family developer, planned a four to five story Mixed-Use project, dubbed Burnet Marketplace, for early next year.

•Ground breaking for the $350 million, 50 story, Fairmont Hotel planned for downtown will occur in November.

•Cousins Properties that brought the Frost Bank Tower to the Austin skyline, is now breaking ground on a 29-story downtown Office tower.

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60

TX - Bryan / College Station

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

College Station-

Bryan, TX

2,106 214,971 88,655 $39,968 60,491 6.40%

SquareMiles



•Bryan / College Station is ranked third on Kiplinger’s Personal Finances list of the 10 Greatest Places To Live. It’s because of good jobs, reasonably priced homes, decent schools and great health care.

•#1 in Texas for the highest percentage of people that bike to work according to a recent U. S. Census. One of only three Texas cities to be designated a “Bicycle Friendly Community” by the League of American Bicyclists.

•A major healthcare provider has opened a four story, 120,000 SF facility in College Station.

•Over 34% of the population is employed in education and health services.

•Residential values are up 7% year over year in true appreciation. Volume is up 20%.

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TX - Central / South

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

CBSA

San Antonio, TX

7,340 2,093,608 749,986 $52,389 730,244 6.70%

SquareMiles



•Activity in the market includes: Federal Government expansion, NSA, consolidated Military Medical facilities, Halliburton and Baker Hughes.

•Demand for new product exceeds supply. The market has seen expanded residential growth in new areas.

•Commercial sales are up 18% over 2012, but are subject to tight lending restraints.

•Existing home sale are up 23% over 2012. New home starts continue to rise. Inventory is low.

•There is continued improvement across the board with residential leading.

•Energy exploration and development continues to fuel the economy and employment.

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61

TX - Houston

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Houston- Sugar Land- Baytown, TX

8,928 5,937,339 2,084,052 $65,395 2,246,860 6.70%

SquareMiles



•Forbes ranks Houston #10 of America’s Top Ten Hardest Working Cities, meaning residents work the greatest number of hours per capita.

•Houston ranks #3 as the most aspirational city in the nation for attracting ambitious citizens, according to The Daily Beast.

•Ground breaking for the new 140,000 SF boutique Office tower in River Oaks is scheduled for the end of the year.

•Allegiance Bancshares Inc. has acquired Independence Bank. The deal creates a $1.05 billion bank in Houston and boosts Allegiance Bank Texas’s lending limit.

•Cousins Properties Inc. is purchasing Greenway Plaza, which is 92% leased and includes 52 acres, 10 buildings and 4.4 million SF of Office space. The deal is expected to close in September.

•Chevron USA is planning to build a new downtown skyscraper that will be 50 stories with 1.7 million SF of space. Groundbreaking is scheduled for Q2 of 2014 and occupancy beginning in 2016.

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TX - Lubbock

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

CBSA

Lubbock, TX 1,799 279,239 111,087 $41,203 101,281 5.80%

SquareMiles



•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.

•The Lubbock area unemployment rate fell to 5.8% in August from 6.4% in July.

•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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62

TX - Rio Grande Valley MSA

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

CBSA

McAllen- Edinburg-

Mission, TX

1,570 751,544 204,655 $31,886 168,988 11.60%

SquareMiles



•Rio Grande Valley Water ports ranked 5th nationally in binational trade.

•The announcement of a new University of Texas Medical School & University are sure to impact the Rio Grande Valley.

•SpaceX arrives in Brownsville, TX and will not only change the face of the Rio Grande Valley, but space exploration as well.

•The MSA accounted for $13.5 billion in Retail sales in 2012.

•McAllen MSA was named fastest growing in the nation by The Fiscal Times in 2012.

•The Rio Grande Valley is the third largest market in Texas behind Houston and Dallas.

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TX - Victoria

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialThe Ron Brown Company

Vacancy


Absorption

Rental Rates


2505 N. Navarro St. Victoria, TX 77901(361) 575-8427

CONTACT

CBSA

Victoria, TX 2,248 115,980 41,805 $50,344 41,963 6.00%

SquareMiles



•Wal-Mart is poised to open a second Supercenter.

•Retail absorption is flat.

•Homewood Suites and a Hilton Garden Inn recently opened.

•A new Apartment complex broke ground.

•Residential pressures are being relieved by new Apartment buildings.

•New home development is lagging behind demand.

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63

TX - Waco

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

CBSA

Waco, TX 1,042 234,783 91,531 $44,485 94,029 6.90%

SquareMiles



•Lakewood Center is complete and 100% occupied.

•Construction on the largest HEB in Texas is almost complete.

•Construction of the new Baylor football stadium is going well.

•The Waco Industrial Foundation purchased 630 acres at the southeast corner of I-35 and Hwy 6.

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UT - Salt Lake County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Salt Lake City

Vacancy


Absorption

Rental Rates

www.coldwellutah.com

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

CONTACT

CBSA

Salt Lake City, UT

9,539 1,140,107 376,706 $66,176 567,447 5.00%

SquareMiles



•eBay expands its presence in Utah; plans to hire 1,600 employees.

•Many new restaurants are expanding into Utah including Dunkin’ Donuts, Freddy’s Frozen Custard, Zaxby’s, Freebirds World Burrito, Mooyah and Popeye’s.

•Vacancy continues to decrease in most property types.

•Qualtrics, Royal Bank of Scotland, and Workday are to expand in Utah and add 1,500+ jobs.

•Lease rates across most property types are increasing but remain nationally competitive.

•Consumer confidence is beginning to rebound as the economy improves. This will add more demand for Retail goods and further Retail expansion.

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64

VA - Fredericksburg

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialElite

Vacancy


Absorption

Rental Rates

www.cbcelite.com

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

CONTACT

CBSA

Washington- Arlington-

Alexandria, DC-VA-MD

5,627 5,523,778 2,103,127 $84,548 2,492,165 6.00%

SquareMiles



•Investment activity remains very strong coupled with diminishing supply.

•Development has been minimal over the last few years; vacancy, slowly but surely, remains on the decline.

•The few development deals that are progressing have been in the works for quite some time and come with tenants in tow.

•The Residential market is close to fully rebounding with supply well under 5 months, spurring interest in residential development.

•The market is continuing at a slow, yet steady pace with rents inching upwards and vacancy slowly declining.

•A new minor league baseball stadium and racetrack are spurring interest in new areas for future development.

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VA - Lynchburg

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialRead & Co.

Vacancy


Absorption

Rental Rates

www.cbcread.com

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

CONTACT

CBSA

Lynchburg, VA

2,124 248,585 100,680 $46,100 96,796 7.00%

SquareMiles



•Lynchburg will get its first Fresh Market store in the coming months. At the same time, Kroger is in the process of renovating one of its stores into one of the largest Kroger’s in this area.

•Vacancy rates are falling in Retail but have leveled out in Office and Industrial since owners tend to be trading tenants back and forth.

•Centra Health has broken ground on a $20M medical facility in Gretna, VA, just south of Lynchburg.

•The Residential market continues to see positive growth in home sales, especially in the higher end properties.

•The Lynchburg unemployment rate is the lowest it has been since January 2009.

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65

WA - Clark County

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialJenkins & Associates

Vacancy


Absorption

Rental Rates

www.cbcworldwidenw.com

300 West 15th St. Suite 201 Vancouver, WA 98660(360) 699-4494

CONTACT

CBSA

Portland- Vancouver- Beaverton,

OR-WA

6,684 2,261,246 878,239 $58,563 952,611 7.50%

SquareMiles



•The infrastructure for the Port of Vancouver Centennial Industrial Park has been completed. The Port is projected to draw in excess of $50,000,000 of new Industrial development to the region.

•A slowly improving economy is driving absorption.

•A great deal of new construction is in the Apartment sector with roughly a dozen large projects under development. New construction in the other sectors is typically build-to-suits and Retail with strong anchors confirmed in advance of construction commencing.

•The single-family Residential market is tightening with home prices cautiously increasing. The Multi-Family market is strong; vacancy is low with cap rates for good quality projects holding steady in the high 6% range.

•There is the feeling of “cautious optimism” in this market.

•Vancouver has always been considered a secondary market to Portland. The congestion in Portland along with a significantly higher business and personal tax structure along with better home values is encouraging more companies to consider Vancouver.

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WA - King County

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

CBSA

Seattle- Tacoma-

Bellevue, WA

5,894 3,433,786 1,373,207 $67,763 1,502,591 5.90%

SquareMiles



•Overall, Puget Sound employment outlook is very positive. Amazon, Boeing, Microsoft and many other employers are in expansion mode.

•The Multi-Family sector is still very strong. Rental rates continue to rise along with sale prices.

•Retail developers and tenants are starting to dip their toes back into the water. There has been some speculative Land purchases in 2013, and there are a number of national retailers looking at the market.

•Residential developers continue to look for good deals on fully developed plats. Most of the fully developed plats have already been purchased, and developers are starting to consider buying raw Land.

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66

WI - Janesville / Beloit

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

CBSA

Janesville, WI 720 160,224 63,135 $54,346 63,044 8.50%

SquareMiles



•Blackhawk Technical College will be moving its Advanced Manufacturing Training programs into a vacant 104,000 SF manufacturing building in Milton, WI.

•Two local firms announced expansions: Seneca Foods Corporation, the world’s largest producer of canned vegetables and the leading processor of fruits in the U.S., is adding 80,000 SF to its existing 1.1 Million SF footprint. GOEX, an industry leader in extruding a variety of resins into custom rigid plastic sheet and roll stock broke ground on a 161,000 SF plant. The building alone represents a $5.5 million investment by the company.

•The Industrial sector’s vacancy rate fell another 2% to post a 6% vacancy rate.

•By mid year, the number of housing transactions leveled off, and average home values are rising about 5% versus the 17% seen last year.

•Retail continues to be on the uptick. Quaker Steak & Lube opens soon at a major I-90 interchange, and pad sites are moving again with Panda Express purchasing a lot near Menard’s. A new strip center is breaking ground in the Kmart Center, and a CVS is nearing completion in front of Big Lots.

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WI - Madison, Greater

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

CBSA

Madison, WI 2,738 574,245 242,725 $65,668 281,044 5.20%

SquareMiles



•The Spectrum Bands (Rayovac, Remington, etc.) headquarters is nearing completion.

•Epic, Promega and other bio/technology companies are expanding.

•Multi-family construction continues to be very strong.

•$50,000,000 Royster Clark redevelopment groundbreaking is scheduled for the fall.

•UW-Madison, the state government, research companies, medical facilities and Insurance companies are contributing to decreasing unemployment and an improving economy.

•Greater Madison is great for employee retention with “high quality of life” designations by many national surveys.

•Housing market in Dane County continues to improve, with sales increasing 29% YOY. Median prices up 10% YOY. Distressed property transfers account for only 5.6% of the total sales.

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67

WY - Cheyenne Metro

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

CBSA

Cheyenne, WY

2,686 89,439 36,986 $60,634 31,977 4.90%

SquareMiles



•Strong technological business investments in Cheyenne throughout 2012 with more expected in 2013.

•Multiple Microsoft investments into Cheyenne area include 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.

•NCAR (National Center for Atmospheric Research) Super Computer, one of the top 20 super computers in the world, began operations in 2012.

•Swan Ranch Industrial Park development continues to bring regional and national oil and gas operators to the region. Industrial absorption in the area beginning to be dominated by oil and gas.

•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 2013.

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International Markets

68

Bermuda

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

CBSA

Bermuda 21 64,268 34,110 $69,183 USD

38,097 6.00%

SquareMiles



•A showcase building in the City of Hamilton, located at 141 Front St., was completed September 2010 and is currently at 80% occupancy.

•Vacancy levels in secondary space have increased due to a high level of new space on the market at affordable prices.

•Waterloo House, approximately 20,000 SF of premier waterfront property in Hamilton, is 90% preleased, and completion is due August / September 2013.

•The inventory of commercial properties listed islandwide for sale has grown tremendously in the last couple of years, but an increased interest and completed sales are starting to be seen.

•Demand remains approximately the same as 2012 but residential transactions are still down approximately 70% from 2008 records.

•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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Canada - Aurora, Ontario

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) 737-5700

CONTACT

CBSA

Aurora, Ontario

19 53,400 16,100 $157,000 24,537 1.20%

SquareMiles



•Aurora is home to the Magna International headquarters and Statefarm’s 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 the twin city of Leksand, Sweden.

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69

Canada - Barrie, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Barrie, Ontario

30 136,063 51,400 $67,500 97,657 4.30%

SquareMiles



•IBM recently opened 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 the city limits was approved for development.

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Canada - Innisfil, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Innisfil, Ontario

109 32,727 13,797 $71,676 12,040 4.30%

SquareMiles



•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 new home contruction is growing by about 6.1% per year.

•Located on Lake Simcoe, cottage lakefront properties are in high demand.

•The market is host to large amounts of rural areas with a lot of potential.

•Georgian Downs Harness Racetrack is located along the highway in Innisfil.

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70

Canada - Kelowna / West Kelowna, BC

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialHorizon Realty

Vacancy


Absorption

Rental Rates


#14-1470 Harvey Ave. Kelowna, British Columbia V1Y 9K8(250) 763-4343

CONTACT

CBSA

Kelowna / West

Kelowna, BC

1,142 187,234 67,000 $77,418 CDN

100,278 7.90%

SquareMiles



•Completion of Landmark VI Office tower has provided 216,000 SF of class A Office space.

•Target stores have opened two locations in the region in former Zellers locations that have been substantially renovated and expanded.

•The government health sector, University and Kelowna International Airport continue to grow. The high tech sector remains strong.

•Residential sales are up, and inventory is slowly decreasing; however values remain flat.

•The market is a highly desirable lifestyle region of Canada with Kelowna being the largest market between Greater Vancouver and Calgary.

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Canada - Newmarket, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Newmarket, Ontario

14 83,000 26,000 $96,680 66,305 1.30%

SquareMiles



•Magna is still a major employer for the Newmarket area.

•Vacancy is falling due to a successful local business climate.

•Rapid transit project for Davis Drive nears the halfway point.

•Residential development continues in northwest and southeast 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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71

Canada - Orillia, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Orillia, Ontario

11 30,586 11,234 $56,951 11,324 4.30%

SquareMiles



•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 northwest section of the city.

•The Ontario Provincal 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 - Ottawa, Canada

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialFirst Ottawa Realty, Brokerage

Vacancy


Absorption

Rental Rates

www.ottawacommercialproperties.com

1749 Woodward Dr. Ottawa, Ontario K2C 0P9(613) 692-7780

CONTACT

CBSA

Ottawa, Ontario

1,801 1,200,000 420,000 $93,280 740,000 6.30%

SquareMiles



•Overall vacancy rates increased slightly to 7.9% across region: Downtown (up to 7.3%), Suburbs (up to 9.7%) and Kanata (down to 13.5%). Expected further decline for next 2 years as tenants appear concerned about liquidity and possible higher financing rates.

•Active new developments (2014 occupancy): 150 Elgin (350,000 SF Office) and 90 Elgin (646,000 SF federal government Office). Downtown: Alterna Bank (240,000 SF Mixed-Use in Westboro); and Lansdowne Park (373,000 SF Mixed-Use) redevelopment.

•Anticipated large Downtown lease opportunities, as result of Federal Government’s continued relocation plans to its recently-acquired suburban campus (to reduce occupancy costs). They are not progressing well; over-budget redevelopment expenses and staff relocation unease.

•Residential condo developments continue to be active and in demand for both Residential and Retail clients.

•US retailers continue to establish new locations in Ottawa: Target, Loews and Tanger Outlets in the suburbs; Nordstrom in Rideau Centre, Downtown.

•The Conference Board of Canada is forecasting real GDP growth below 2% for the Ottawa Gatineau region and expected to continue into 2014. This is largely a result of staffing cuts to the public administration sector. Ottawa City Hall is grappling with plans for new casino and light rail transit system.

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72

Canada - Richmond Hill, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Richmond Hill, Ontario

39 185,541 46,075 $80,121 95,432 3.80%

SquareMiles



•Rapid transit via TTC is a major boost to the local economy.


•Yonge Street’s condo development is tremendous.

•Most new developments reside along Jefferson Sideroad and multiple infill projects across the town.

•Most businesses in Richmond Hill are small businesses, with more than half of all employers in the town having four workers or less.

•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 since the 1990s.

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Canada - Trail, British Columbia

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker Commercial1st Trail Real Estate Ltd.

Vacancy


Absorption

Rental Rates


1252 Bay Ave. Trail, British Columbia V1R4A6(250) 368-5222

CONTACT

CBSA

Trail, British Columbia

13 19,208 8,540 $63,237 4,932 6.30%

SquareMiles



•Trail is strategically located half way between Vancouver and Calgary on the beautiful Columbia River and USA Border.

•Key infrastructure includes Selkirk College, Regional Hospital, Teck Resources {#1 employer with a high expansion planned} High Tech Junior Companies, E-Waste Recycling and a new state of the art high school.

•New developments in the past 6 years include 4 major businesses plus a Walmart.

•West Kootenay Area is nicely located just 2 hours North of Spokane, Washington, which is a major shopping and transportation hub as well as an international airport.

•This is a highly desirable lifestyle with beautiful ski hills “currently expanding”, great golf courses, and warm lakes, mountain biking and hiking. Life here is “as good as it gets” with the one of the nicest climates in Canada.

•Trail is the Home of Champions. The sports programs here produce some of the best players in Canada in Hockey, Baseball, Curling, Skiing, Golfing, Mountain Biking and Swimming.

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73

Canada - Vaughan, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS


Vacancy


Absorption

Rental Rates



CONTACT

CBSA

Vaughan, Ontario

273,500 288,301 69,535 $84,312 210,100 3.20%

SquareMiles



•Home to Canada’s Wonderland and the McMichael Art Gallery.


•Industrial development along Hwy. 400 dominates real estate development.

•Vaughan is one of southern Ontario’s fastest growing cities. According to Statistics Canada, 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 - Waterloo Region, Ontario

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialPeter Benninger Realty, Brokerage

Vacancy


Absorption

Rental Rates

www.coldwellbankercommercial.ca

508 Riverbend Dr. Kitchener, Ontario N2K 3S2+1 (519) 743-5211

CONTACT

CBSA

Waterloo Region, Ontario

528 553,000 196,420 $77,040 CAD

284,400 7.40%

SquareMiles



•Marking 20 years since its launch as a University of Waterloo search engine project, OpenText expanded its headquarters with the opening of its Innovation Centre. Revenue tops $1 billion annually at Open Text, Canada’s largest software company.

•Waterloo Region is home to close to 1,000 technology companies, which generate more than $30 billion in revenues annually and employ about 30,000 people. Competitive business costs and the most diverse economy in Ontario drive the continued expansion of the advanced technology cluster.

•The Institute for Quantum Computing at the University of Waterloo, a research centre, is part of an effort by Mike Lazaridis, cofounder of Blackberry, to invent a quantum computer and turn this region into a “Quantum Valley”. $759 million has been invested by various sources, including the federal and provincial governments. A $100 million investment fund, Quantum Valley Investments, was launched in March to recruit the world’s best academic researchers.

•A shift in the location of building activity has been occurring, as well as a shift to higher-density housing types. The number of units constructed in reurbanization areas was 48% of all residential units constructed in Waterloo Region in 2012 (1,669 units). Developing within the built up area provides a focus for transit and infrastructure investments, and allows the Region of Waterloo to ensure the development of healthy, safe and balanced communities.

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74

Canada - Winnipeg Area, Manitoba

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

CBSA

Winnipeg Area,

Manitoba

184 750,000 262,000 $47,000 CND

350,000 5.20%

SquareMiles



•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 occuring at the Winnipeg Convention Center.

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Costa Rica

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialCosta Rica

Vacancy


Absorption

Rental Rates

www.coldwellbankercostarica.com

50 Meters North of Hotel Roca Verde Dominical, Puntarenas 80001-877-211-5275

CONTACT

CBSA

Costa Rica 19,653 4,586,353 1,300,000 $12,600 CRC

2,198,000 7.90%

SquareMiles



•Starbucks opened operations in Costa Rica.

•Vacancy is rising in some sectors due to recent completion of new commercial projects.

•The residential market is seeing its largest increase in closed transactions since 2008.

•The Costa Rican government is implementing incentive plans to attract international companies using free trade zones.

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75

France - Paris

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

CBSA

Paris, France 4,267,000 65,430,000 N/A € 28,248 22,800,000 10.80%

SquareMiles



•Loan rates are historically low (under 3%).

•Sales volume strongly declined; prices are stabilizing in Paris and hotspots, and decreasing nationwide.

•Tax cuts for 2013 / 2014 are propitious to market energizing.

•New housing construction has slowed down because of tax reforms.

•France and Paris are the top tourist destinations.

•In Paris, the average sqm price has fallen down to 8,206€, the same level as 2011.

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Guatemala

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMaster Realtor

Vacancy


Absorption

Rental Rates

www.coldwellbanker.com.gt

5 avenida 555 zona 14 Europlaza, torre 3 oficina 801 Guatemala, Guatemala Guatemala+502 2203 6363

CONTACT

CBSA

Guatemala 68,056 15,500,000 N/A N/A 4,359,000 4.10%

SquareMiles



•Guatemala shows a growth of 375% in Foreign Direct Investment (FDI); and a growth from US $262.2 million to US $1.24 billion from 2003 to 2012. Corporations such as Bimbo, Telefonica, Nestle, Pepsico and Ambev had heavily invested in the country.

•Guatemala seeks to attract more than $1.3 billion in US investment through a portfolio that includes seven infrastructure projects: industrial park in the border with Mexico, recover the port of Champerico, build a solid and liquid bulk terminal in port St. Tomas, inter oceanic canal, toll highways, international airport and a multimodal port.

•Potential sectors for FDI: BPO´s and technological infrastructure, renewable energy and oil and mining. Facilities and infrastructure will be demanded for these sectors.

•Low income housing projects are a boom for developers and constructors. It is estimated that Guatemala will register for a 1.799 million units deficit in 2013, 1.882 units in 2014, and 1.963 units in 2015.

•New construction is mainly represented by vertical construction of residential Apartments. From 107 new projects in the City, 67% are residential buildings. The price range of 35 projects is from $100 USD to $150,000 USD. An 80 unit building is estimated to be 100% reserved in 3 months.

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76

Italy

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialS.p.A.

Vacancy


Absorption

Rental Rates

www.cbcommercial.it

Via Sardegna, 50 - Galleria del Corso, 2 Rome - Milan, Italy 00187 - 20122+39 06 3974 0456 - +39 02 8991 9232

CONTACT

CBSA

Italy 301 60,900,000 25,000,000 € 32,712 22,723,000 11.20%

SquareMiles



•Corporate investments were stable in the period 2009 to 2011 (average approximately 4.2 billion) but were reduced to one third in 2012 (1.2 to 1.8 billion) - of which, 40% are Offices and 24% are Hotels.

•Operators do not predict large drops in prices. The repricing in Italy should not be profound; rather, there will be a further decrease of less than 5%.

•Real estate funds in 2012; there was a further increase in assets to about €40 billion, although a number of “familiar” funds were penalized by taxation.

•The composition of funds consists of Offices representing 60%, Commercial 19%, Logistics and Industrial 6%, Residential 3% and the development funds 12%.

•The Hotel market continues a positive interest in the Arts Cities. Qatar Holding Fund is ready to invest one billion dollars to make the Emerald Coast in Sardinia a luxury tourist hub.

•In Shopping Mall Centers, rents are confirmed stable in established centers. The frequent renegotiations and commercialization in the area generally require more time. In the High Street of the main Italian cities, due to limited availability, demand remains strong for the best positions.

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Mexico - Mexico City

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialMexico

Vacancy


Absorption

Rental Rates

www.cbcmexico.mx

Montes Urales 415 - 1 Lomas de Chapultepec Mexico, Mexico 1100055 41621000

CONTACT

CBSA

Mexico City, Mexico

571 23,000,000 N/A $35,000 MXN

8,600,000 3.90%

SquareMiles



•Despite that it’s been merely 2 years since its introduction in the Mexican market, the Infrastructure and Real state Investment Trusts (FIBRA, for its acronym in Spanish), have raised little more than $5.8 billion USD in the Mexican Stock Exchange through five different entities in eight emissions.

•The Mexican consortium Alsea, the largest restaurant operator in Latin America, said this week it agreed to acquire 25% of Axo Group.

•The Industrial and logistics market is moving in a positive way. During the first semester, tenants absorption in Mexico City and its metropolitan area market were faster than the developers construction response, so the average lease prices per sqm increased.

•Since Q4 2012, new players, independent investors and investment funds have bought and developed new logistics and Industrial parks; this should make average rent price levels return to their normal rates at the end of 2013.

•The Office market total inventory increased by 47% since 2009; and looking forward to 2015, this will increase 24% more.

•The average rent prices have increased in the past years.

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77

Puerto Rico

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

CBSA

Puerto Rico 3,562 1,278,000 855,621 $32,182 USD

602,520 13.60%

SquareMiles



•Several major franchises are looking at opening inside the island.

•Commercial Real Estate prices are favorable for prospective buyers.

•Foreign Investors are visiting the island and prospecting.

•Consumer product purchase is high.

•New airport expansions are planned for the San Juan International Airport.

•Incentives for tourist base companies are on the rise, promoting an attractive opportunity in the Hospitality sector.

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Spain - Barcelona & Cataluña Region

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialSpain

Vacancy


Absorption

Rental Rates

www.coldwellbanker.es

Avda. Diagonal 433, 3º 2ª Barcelona, Cataluña 8036(+34) 93 241 3082

CONTACT

CBSA

Barcelona & Cataluña

Region, Spain

1,399 46,800,000 17,100,000 € 17,960 16,900,000 26.00%

SquareMiles



•Construction sector in Spain is on the up. Eurostat registered an increase of 4.4% in May compared to April – the largest increase across the whole of the European Union (EU). National activity grew by 8.2% year-on-year.

•AXA Real Estate Investment Managers bought Barcelona Office buildings from the Catalan government in May for 172 million Euros. This is its second country purchase in five years.

•The lack of funding for local investors has opened possibilities for foreign investors who are taking advantage of commercial property price drops.

•Ernst & Young estimate that the Spanish economy will fall by 1.7% in 2013 and then rebound by 0.2% in 2014 and by 1.5% between 2015 and 2017.

•There is an empty residential property decline in Cataluña and the Balearic Islands. Nationally, over the past decade the number of empty homes nationwide has increased by 336,943 units.

•Property prices continue to fall. According to Tinsa, the price of housing in Spain fell by 10.5% in Q2 of 2013. This is a slight improvement from the decrease of 12.1% in Q1, 2013. Since the peak in Q4, 2007, house prices have accumulated a drop of 37.1%.

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78

United Arab Emirates - Dubai

DEMOGRAPHICS

MARKET HIGHLIGHTS

Coldwell Banker CommercialUAE (Mega Homes Real Estate)

Vacancy


Absorption

Rental Rates

www.coldwellbanker-ae.com

Suite 2804, The Citadel Corporate Tower, Business Bay Dubai, Dubai P.O. Box 73618+971 4 439 1200

CONTACT

CBSA

Dubai, U.A.E. 4,110 2,170,901 203,140 $4,972.37 USD

1,325,949 N/A

SquareMiles



•The Infinity Tower in Dubai Marina features a 90 degree twist and is 310 metres high. The Dh1 billion Infinity Tower in Dubai Marina, the world’s tallest tower featuring a 90-degree twist, has been completed.

•The latest Prime Global Rental Index report by UK-based consultancy reveals rents in the emirate rose by 18.3% in the year to March. Rental values in Dubai are up 10.1% in the last six months while they rose by 3.5% in the first quarter of 2013.

•Dubai house prices increased at the fastest pace in world during the year to Q1 2013, in the list of 42 global cities surveyed by the Global Property Guide. The organization, which collates real estate data from across the world, said in its report that prices soared by 28.02%.

•The Dubai Land Department is in the process of issuing seven new legislations in the next two years in order to regulate the real estate market in the emirate and protect it from speculation and harmful practices.

•A successful Dubai Expo bid could result in over 25 million visitors to Dubai between October 2020 and April 2021 and will give a strong boost to the economy, creating an estimated 277,000 additional jobs. The bid result will be announced in November 2013.

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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.

Abilene, TX 58Albuquerque / Bernalillo County, NM 45Amarillo, TX 59Anchorage, AK 5Antelope Valley, CA 6Athens, GA 25Atlanta, Greater MSA, GA 26Austin, TX 59Billings, MT 42Bloomington / Normal, IL 32Boca Raton, FL 16Boise, Idaho, ID 30Bryan / College Station, TX 60Central, MN 39Central & Northern, NJ 43Central / South, TX 60Champaign / Urbana, IL 32Charleston, SC 53Charlotte County, FL 17Chattanooga Metro, TN 57Cheyenne Metro, WY 67Chicagoland, IL 33Chico, CA 7Cincinnati, OH 48Clark County, WA 65Cleveland, OH 49Coeur d’Alene, ID 31Columbia, SC 54Columbus, GA 26Dalton / Whitfield County, GA 27Daytona Beach / Ormond Beach, FL 17Deltona / Daytona Beach, FL 18Denver, CO 14East, TN 57East Central Indiana, IN 33Eastern, ID 31Fairfield County, CT 15Fargo / Moorhead, ND 48Florida Keys / Key West, FL 18Fort Myers / Naples, FL 19Fredericksburg, VA 64Gainesville, FL 19Garden City 34Grand Junction / Mesa County, CO 15Greensboro / Guilford County, NC 46Greenville, SC 54Gulfport / Biloxi, MS 41Hinesville / Fort Stewart, GA 27Honolulu, HI 30Houston, TX 61Houston County, AL 4Indian River County, FL 20Indianapolis, IN 34Inland Empire North / Victor Valley, CA 7Jacksonville, FL 20Janesville / Beloit, WI 66Kansas City Meto Area, KS 35King County, WA 65Lafayette, LA 37Lake Oconee Trade Area, GA 28Lakeland / Winter Haven, FL 21Lexington, KY 35Lincoln, NE 42Little Rock, AR 6Long Beach / South Bay, CA 8Long Island, NY 45Louisville Metro, KY 36Lubbock, TX 61Lynchburg, VA 64Madison, Greater, WI 66Mankato, MN 40Marietta, GA 28Melbourne / Brevard County, FL 21Melbourne / Palm Bay / Titusville, FL 22Midcoast and Southern, ME 38

INDEX BY MARKETMiddle Georgia, GA 29Minneapolis Metro, MN 40Modesto, CA 8Montgomery, AL 4Morris County, NJ 44Myrtle Beach, SC 55Napa & Sonoma Valleys, CA 9Nashville, TN 58New Orleans, LA 37New York City, NY 46Newport Beach, CA 9North Los Angeles County, CA 10North State, CA 10Northeastern, PA 52Northern, MI 38Northern, NJ 44Oakland / East Bay, CA 11Ocala, Marion County, FL 22Oklahoma City Metro, OK 49Orange County, CA 11Philadelphia, Northern Suburbs, PA 52Piedmont Triad, NC 47Port Orange / New Smyrna Beach, FL 23Portland, OR 50Rapid City, SD 56Reno / Sparks, NV 43Rio Grande Valley MSA, TX 62Riverside / Corona Valley, CA 12Riverside / South West, CA 12Roseville / Placer County, CA 13Salem, OR 51Salt Lake County, UT 63San Mateo County, CA 13Sarasota / Manatee / Charlotte, FL 23Savannah, GA 29Sedona, AZ 5Southern, KY 36Southern, OR 51Southwestern, PA 53Spartanburg, SC 55St. Joseph, MO 41St. Lucie County, FL 24Sumter, SC 56Sussex County, DE 16Tallahassee, FL 24Tampa Bay, FL 25Tulsa, Oklahoma, OK 50Victoria, TX 62Waco, TX 63West Los Angeles, CA 14Western, MI 39Wilmington, NC 47

INTERNATIONALBermuda 68Canada Aurora, Ontario 68 Barrie, Ontario 69 Innisfil, Ontario 69 Kelowna / West Kelowna, BC 70 Newmarket, Ontario 70 Orillia, Ontario 71 Ottawa, Canada 71 Richmond Hill, Ontario 72 Trail, British Columbia 72 Vaughan, Ontario 73 Waterloo Region, Ontario 73 Winnipeg Area, Manitoba 74Costa Rica 74France - Paris 75Guatemala 75Italy 76Mexico - Mexico City 76Puerto Rico 77Spain - Barcelona & Cataluña Region 77United Arab Emirates - Dubai 78

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