cbc 2014 blue book

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MARKET INTELLIGENCEFOR COMMERCIAL REAL ESTATE

9 Markets95 Markets26 Markets

11 Markets 97 Markets 20 Markets











*Based off 132 US Markets (Information was N/A in certain sectors)

The Coldwell Banker Commercial (CBC) Blue Book offers a unique market perspective with data generated by true commercial real estate market experts the professionals of the Coldwell Banker Commercial companies within the local markets. In total, there are over 165 domestic and international markets covered in this edition of the Blue Book. Below are the US market statistics.

Source: Reis

Q4 2013 Q4 2014

16.9% 16.7%

25,348,000 33,489,000

$29.08 $29.94

Q4 2013 Q4 2014

10.4% 10.2%

12,979,000 10,779,000

$19.34 $19.69

Q4 2013 Q4 2014

4.3% 4.2%

159,723 161,187

$1,133 $1,172

Q4 2013 Q4 2014

9.5% 9.0%

96,277,000 107,653,000

$4.69 $4.80

The charts below represent how many of the 132 US markets submitted in this book are Up, Down or had No Change.*

Dec 2013 vs Dec 2014Source: Bureau of Labor Statistics


US TRENDS*US TRENDS*

Sources of InformationMarket information is derived from the CBC affiliate listed as the contact in such Market. Information from sources considered is deemed reliable, but has not been independently further evaluated or verified by Coldwell Banker Commercial. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from United States Census Bureau American Fact Finder DP03 and DP05, providing 2013 demographic info unless submitted by the CBC affiliate listed as the contact. A Metropolitan Statistical Area (MSA) 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.

Office Retail MF Industrial

Vacancy

Absorption

Rental Rates

Vacancy

Absorption

Rental Rates

Unemployment

ContentsContentsAL - Birmingham 4AL - Madison/Limestone MSA 4AL - Mobile/Baldwin Counties 5AL - Montgomery 5AZ - Flagstaff /Northern Arizona 6AR - Little Rock 6CA - Antelope Valley 7CA - Chico 7CA - Inland Empire/Victorville 8CA - Long Beach/South Bay 8CA - Los Angeles County/San Fernando Valley/San Gabriel Valley 9CA - Los Angeles, West 9CA - Napa/Sonoma Valleys 10CA - Orange County 10CA - Riverside County (Southwest) 11CA - Sacramento Valley (Northern) 11CA - San Bernardino/Inland Empire 12CA - San Diego 12CA - San Francisco/Peninsula Bay Area 13CA - Yuba/Sutter Counties 13CO - Denver 14CO - Western 14CT - Fairfi eld County 15DE - Sussex County 15FL - Brevard County 16FL - Charlotte County 16FL - Daytona Beach/Ormond Beach, Volusia County 17FL - Florida Keys and Key West 17FL - Gainesville 18FL - Jacksonville 18FL - Lakeland-Winter Haven MSA 19FL - Manatee County 19FL - Miami-Dade 20FL - Miami-Dade County 20FL - Orlando MSA 21FL - Palm Beach County 21FL - Putnam County 22FL - Sarasota County 22FL - Sebastian/Vero Beach 23FL - Southeast 23FL - Southwest 24FL - St. Lucie County 24FL - Tallahassee MSA 25FL - Tampa Bay 25FL - Volusia County 26GA - Athens 26GA - Atlanta 27GA - Atlanta MSA 27GA - Columbus 28GA - Dalton 28GA - Fayette County/Peachtree City 29GA - Greene/Putnam/Morgan 29GA - Hinesville/Fort Stewart MSA 30GA - Macon MSA 30GA - Savannah 31HI - Honolulu 31ID - Pocatello 32IL - Bloomington/Normal 32IL - Champaign 33IL - Chicagoland 33IL - Madison/St Clair Counties 34IL - Tazewell County 34KS - Garden City 35KS - Kansas City MSA 35KY - Lexington/Fayette MSA 36KY - Louisville MSA 36KY - Shelby County 37KY - Southern 37LA - Lafayette 38LA - New Orleans 38ME - Midcoast/Southern 39MD - Suburban Maryland/Washington, DC 39MI - Lansing MSA 40MI - Northern 40MN - Mankato 41MN - Minneapolis/St. Paul 41MN - Saint Cloud MSA/Central MN 42MS - Gulfport/Biloxi 42MO - Springfi eld 43MO - St. Joseph 43MT - Billings 44NE - Lincoln 44NV - Reno/Sparks MSA 45NJ - Northern 45

NM - Albuquerque 46NY - Long Island 46NY - New York 47ND - Fargo/Moorhead 47OH - Cincinnati 48OH - Cleveland 48OH - Cleveland Greater Metro 49OK - Oklahoma City 49OK - Tulsa/Tulsa County 50OR - Portland 50OR - Salem/Keizer 51PA - Hunterdon County/Southeastern PA 51PA - Lackawanna/Luzerne Counties 52PA - Western 52SC - Charleston MSA 53SC - Columbia 53SC - Greenville 54SC - Myrtle Beach 54SC - Spartanburg 55SD - Rapid City 55TN - Chattanooga MSA 56TN - Knoxville Area/East Tennessee 56TN - Nashville 57TX - Amarillo MSA 57TX - Austin 58TX - Bryan/College Station 58TX - Dallas/Fort Worth 59TX - El Paso 59TX - Houston 60TX - Lubbock MSA 60TX - Rio Grande Valley 61TX - South/Central 61TX - Southeast Texas 62TX - Victoria 62TX - Waco 63UT - Salt Lake City 63UT - St. George 64UT - Utah County 64VA - Fredericksburg 65VA - Lynchburg 65VA - Williamsburg/Hamptons Roads MSA 66WA - Anacortes 66WA - King County 67WA - Tacoma/Pierce County 67WA - Vacouver/SW Washington 68WI - Dane County 68WI - Janesville/Beloit MSA 69WY - Cheyenne 69

INTERNATIONAL MARKETSAustralia - Brisbane, Queensland 70Australia - Brisbane (South), Queensland 71Australia - Gold Coast, Queensland 71Australia - Perth 72Australia - Sydney 72Bermuda 73Canada - Calgary CBD, Alberta 73Canada - Campbell River & District, British Columbia 74Canada - Courtenay/Comox, British Columbia 74Canada - Edmonton, Alberta 75Canada - Nanaimo/Regional District of Nanaimo, British Columbia 75Canada - Nanaimo, British Columbia 76Canada - Oakville/Mississauga/Burlington, Ontario 76Canada - Ottawa, Ontario 77Canada - Vancouver, British Columbia 77Canada - Victoria/Capital Regional District, British Columbia 78Canada - Waterloo Region, Ontario 78Cayman Islands - Grand Cayman 79France 79Guatemala - Republic of 80India - Bengaluru 80India - Hyderabad 81India - Mumbai 81Ireland 82Ireland - Dublin 82Italy 83Mexico - Mexico City 83Puerto Rico - San Juan 84Puerto Rico 84Romania - Bucharest 85Saint Kitts and Nevis 85Spain 86United Arab Emirates - Dubai 86

4AL - BirminghamAL - Birmingham

MARKET HIGHLIGHTS

Coldwell Banker CommercialMoore Company Realty

402 Office Park Drive, Suite 205Birmingham, AL 35223

CONTACT

Industrial inventory is unchanged from 2013, increasing only .65%. Net absorption of existing space drastically increased in 2014 over 2013 by 362%. Inventory of Industrial has become scarce.

Central Business District gains momentum with growing interest in residential development; businesses have a renewed interest in locating in CBD, and new Retail development led by Publix Grocery store is providing much needed community support.

Retail development is focused on the reuse of existing space, and few majors continue to add locations except: Walmart Neighborhood Market and Publix. New-to-market retailers are showing interest in the market such as the about-to-be-complete Field & Stream store.

Residential development is on the rise with home sales up 15% over the prior year. Apartment development continues to be strong with unit values on the rise in the midst of stagnant growth in employment and wages.

The Office sector is experiencing positive absorption, leading to lower vacancy. Rental rates in Class A Office space are firming up and starting to increase. The strongest occupancy is in midtown to CBD. Overall vacancy rate for all markets is 9.2%. It is a healthy Office market. Look for technology to impact this sector more in the future.

INTERESTING FACT: INTERESTING FACT: Above average public education is available per capita. Hilly terrain provides beautiful vistas. There are four distinct seasons. Automotive production is now listed as a base industry in the MSA, which is a shift from steel production of the past.

Population of MSA

1,135,513Households in MSA

501,800Household Median Income

$47,886Unemployment of MSA

4.70%

(334) 262-1958www.moorecompanyrealty.com

Vacancy

Absorption

Rental Rates

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AL - Madison/Limestone MSAAL - Madison/Limestone MSA

MARKET HIGHLIGHTS

Coldwell Banker CommercialMcLain Real Estate

2800 Bob Wallace Avenue S.W. Post Office Box 2199Huntsville, AL 35805

CONTACT

In December, Remington Arms announced 2,000 jobs in advanced manufacturing of firearms in Huntsville. Polaris followed suit in January 2015 with 1,700 jobs and a new 453 acre facility.

Job creation in the Huntsville market is excellent, with about 3,400 jobs added in 2014. Four new downtown Mixed-Use projects are in the works and should all break ground in 2015. New residential construction and lot development have returned. New development is active in all sectors, particularly Retail and Mixed-Use.INTERESTING FACT: INTERESTING FACT: Huntsville rocket scientists made and managed the Saturn V and Space Shuttle and are now working on the advanced heavy-lift rocket.

Population of MSA

430,367Households in MSA



4.80%

(256) 533-3414www.mclaincommercial.com

Vacancy

Absorption

Rental Rates

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5AL - Mobile/Baldwin CountiesAL - Mobile/Baldwin Counties

MARKET HIGHLIGHTS

Coldwell Banker CommercialGulf South

20757 Marina RoadOrange Beach, AL 36561

CONTACT

The $600 M Airbus Assembly Plant will be ready for production to begin in Alabama during summer 2015 with first delivery from Mobile expected in 2016. The facility will require a 1,000 person workforce. Mobile Countys expected boost in annual economic activity is $348 M once the plant reaches full employment.

An increase in Mobile County, AL manufacturing jobs of 14.4% with manufacturing wages increasing by over 15%. The past five years have seen 34 announcements through the Mobile Chamber of Commerce of new companies in aerospace, chemical, oil, gas and steel industries. Average salary for the new and expanding companies is over $50,000.

Over 170 new businesses started last year. Baldwin County is home to over 6,000 businesses. Named by Forbes magazine as one of the top 50 places to start and grow a business, Baldwin County is gaining a national reputation for its outstanding economic development. The BCEDAs five-year goals of attracting and supporting business and industry include $250 M in new capital investment.

With access to several major highways, four airports, rail, and the ports of Mobile Bay, Baldwin County and Mobile County are ideal locations for businesses to distribute products across the country and around the globe.

Blue Collar Countrys 500-acre entertainment development and city sports complex is estimated to generate more than $100 M in annual sales and employ nearly 3,000 people. The project will add to south Baldwins growing sports tourism industry. The area hosted 88 events in 2012, generating 64,076 room nights and $22.4 M in direct spending.

Population of MSA




4.90%

(251) 981-8000www.cbcgulfsouth.com

Vacancy

Absorption

Rental Rates

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AL - MontgomeryAL - Montgomery

MARKET HIGHLIGHTS

Coldwell Banker CommercialMoore Company Realty, Inc.

312 Catoma Street, Suite 200Montgomery, AL 36104

CONTACT

Two new urban Apartment complexes have broken ground in Downtown Montgomery; 1 project which repurposed Offices into Apartments is complete. Six new downtown leases have also been announced, in addition to one new Hotel development downtown.

All sectors of the market are showing improvement. Starbucks is relocating to achieve more frontage. Several new restaurants are opening in East Chase Lifestyle Center. Montgomery area residential sales were up 11% in December; 2014 sales were up 8%. Hyundai set new sales records; Gander Mountain entered the market.INTERESTING FACT: INTERESTING FACT: Hotel occupancy is second only to Hunstville in Alabama.

Population of MSA




5.50%

(334) 262-1958www.moorecompanyrealty.com

Vacancy

Absorption

Rental Rates

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6AZ - Flagstaff/Northern ArizonaAZ - Flagstaff/Northern Arizona

MARKET HIGHLIGHTS

Coldwell Banker CommercialNarico

1120 W University Ave., Suite 200Flagstaff, AZ 86001

CONTACT

The Flagstaff, Arizona market is growing from the 20,000 student enrollment at Northern Arizona University. It is expanding regional medical services, becoming a hub for research and development companies with commitment to the Dark Skies coalition and city sponsored incubation centers, and is capitalizing on its location at 7,000 SF to attract second home buyers and other investors from Phoenix.

Due to the number of students attending Northern Arizona University and the many people seeking heat relief from the Phoenix, Tucson and Las Vegas markets, rentals are at an all time high for demand.

Flagstaff does not have enough development-ready residential projects online. As the city reaches the 100,000 mark in population, the need for commercial goods and services is growing rapidly.

Flagstaff average prices have caught up considerably since the recession and are now at $286,000 as compared to $340,000 in 2006.

Flagstaff is growing in banking, private schools, university support services and goods-providing entities, a VA hospital and all regional medical, educational and service industries.

INTERESTING FACT: INTERESTING FACT: Flagstaff is located at the foot of the San Francisco Peaks which reach almost 13,000 feet into the sky. Flagstaff is 79 miles south of the Grand Canyon and is known for its beautiful scenery and clean air.

Population of MSA




7.90%

(928) 226-3188www.cbnarico.com

Vacancy

Absorption

Rental Rates

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AR - Little RockAR - Little Rock

MARKET HIGHLIGHTS

Coldwell Banker CommercialHathaway Group

2100 Riverdale Road, Suite 100. PO Box: 3730LIttle Rock, AR 72202

CONTACT

The historic 12-story Boyle Building at the corner of Main Street and Capitol Avenue in downtown Little Rock is currently being redeveloped into an Aloft Hotel.

The Outlets at Little Rock, a 75-store premium outlet mall being developed by New England Development, is under construction next to Bass Pro Shops at I-430 and I-30.

350,000 SF distribution center is being planned for a south Little Rock site for Federal Express. Little Rock Technology Park Authority selects downtowns Creative Corridor as site for new research and technology center and

begins property acquisition negotiations.

The Office market is strong and vacancy rates have declined 2.5% year over year.INTERESTING FACT: INTERESTING FACT: Clinton Presidential Center and Library celebrated its 10-year anniversary with a visit from President Clinton. $2.5 B economic impact for area cited in study.

Population of MSA




5.00%

(501) 663-5400www.hathawaygroup.com

Vacancy

Absorption

Rental Rates

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7CA - Antelope ValleyCA - Antelope Valley

MARKET HIGHLIGHTS

Coldwell Banker CommercialValley Realty

42402 10th Street West, Suite ELancaster, CA 93534

CONTACT

Home builder KB Home resumed building more than 300 homes in Anaverde to finish out phase one of the master-planned community.

Industrial real estate has experienced upward absorption and rental rate trends. Over 300,000 SF of new Medical space opened in 2014. The Greater Antelope Valley ranked Excellent or Very Good, the two highest categories of the 2014 Kosmont-Rose Survey, in

Overall Advantages for a place to do business in Southern California.

INTERESTING FACT: INTERESTING FACT: Home to Edwards Air Force Base, Air Force Plant 42 and the Mojave Air and Spaceport with total personnel over 26,000, the Greater Antelope Valley continues to be a leader in Aerospace technology. With plenty of sunshine, the Greater Antelope Valley is home to many alternative energy projects including the nations largest wind energy delivery infrastructure.

Population of MSA




10.70%

(661) 948-2644www.cbcvalleyrealty.com

Vacancy

Absorption

Rental Rates

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CA - ChicoCA - Chico

MARKET HIGHLIGHTS

Coldwell Banker CommercialDuFour Realty

1350 E. Lassen Ave. Suite 1 Chico, CA 95973

CONTACT

The Tech industry is booming. Facebook, Build.com, 11Main (Alibaba), Milestone Technologies and other tech companies are currently expanding in Chico.

Downtown Chico is heating up. Food tech innovation company Marys Gone Crackers, Inc., is expanding to the city center. Other new businesses include Wanderful Media tech company, North Valley Community Foundation, Wild Ink Press and several foodie start ups including Crepeville, Winchester Goose, B Street Public House and Denines Cupcakes. Boutique Hotel Diamond is planning to expand.

Meriam Park Development in Chico is gaining traction. New 60,000 SF courthouse is almost complete, and construction of a 40,000 SF Northern Valley Indian Health center is underway.

New Walmart Supercenter in Oroville has cleared all legal challenges and is scheduled for construction in 2015. Multi-Family residential development is strengthening. California State University, Chico is doing well and several student

housing projects are in the pipeline. Middle income and senior housing projects are also being built. New Single family residential units are being built and selling briskly.

INTERESTING FACT: INTERESTING FACT: Chico is home to the popular Sierra Nevada Brewing Company, which has just opened up a second brewery in Mills River, North Carolina.

Population of MSA




7.50%

(530) 895-1545www.cbcworldwide.com

Vacancy

Absorption

Rental Rates

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8CA - Inland Empire/VictorvilleCA - Inland Empire/Victorville

MARKET HIGHLIGHTS

Coldwell Banker CommercialReal Estate Solutions

15500 West Sand Street, 2nd FloorVictorville, CA 92392

CONTACT

In 2014, Retail development was on the rise, and the market saw a steady decline in vacancy rates. New additions include: Fiat Auto, Tilted Kilt Irish Pub, Charlotte Russe, Planet Fitness and the first Southern California Steak N Shake. The areas 4th Super Walmart opened in 2014 with the addition of 213,000 SF.

Industrial net absorption was slightly negative, and vacancy rates have increased slightly. Rents are slightly lower, but appear to have bottomed out.

While price per SF remained relatively flat in the Multi-Family sector, unit pricing increased 21%, along with rents, which increased 3.7% year-over-year.

Retail and Multi-Family Land were in high demand for developers, and demand is expected to increase in 2015. The housing recovery remains strong, with the median sales price increasing 22% year-over-year. Median sales price per SF

ended 2014 at $103 PSF for residential resale homes.

INTERESTING FACT: INTERESTING FACT:

Population of MSA




7.20%

(760) 684-8000www.cbcdesert.com

Vacancy

Absorption

Rental Rates

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CA - Long Beach/South BayCA - Long Beach/South Bay

MARKET HIGHLIGHTS

Coldwell Banker CommercialBLAIR WESTMAC

333 W. Broadway, Suite 302Long Beach, CA 90802

CONTACT

The Pike, an oceanfront Retail center in Downtown Long Beach, is currently undergoing a $65 M renovation that will culminate in it being converted to a fashion outlet center.

The sales of Multi-Family continued to be strong in 2014. Sales volume was up 139% with 2014 sales totaling $415,871,500 vs. $186,184,822 in 2013; the total number of sales transactions increased 253%, with transactions in 2014 totaling 253 vs. 186. This increase in volume resulted in increases for both the average price per unit and average price per SF of 14.5% and 16.1% respectively.

Cranes are back in Downtown Long Beach with over 900 residential units currently under or slated for construction. Unemployment is now at its lowest level since 2008, and with it, Office vacancy rates continue to fall. The scarcity of land and available properties has driven up Industrial rents and sales prices. Additionally, many larger tenants

who cannot find properties to purchase or land to build on are now pursuing property in the Inland Empire at a great discount.

INTERESTING FACT: INTERESTING FACT: The Port of Long Beach is one of Americas premier seaports with an annual trade value of more than $140 B passing through the port annually.

Population of MSA




6.70%

(562) 495-6070www.cbcblair.com

Vacancy

Absorption

Rental Rates

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9CA - Los Angeles County/San Fernando Valley/San Gabriel ValleyCA - Los Angeles County/San Fernando Valley/San Gabriel Valley

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlliance - LA County

701 N. Brand Blvd., Suite 800Glendale, CA 91203

CONTACT

Overall, Industrial vacancy in the Los Angeles County area dropped to 3.2% with a year end absorption of 14,343,000 SF. Leading the charge were major leases completed with 99 Cents Stores for 620,000 SF and 522,000 SF to Sony.

800 to 2,000 new Multi-Family units will be available by the end of 2015. The average unit price is $2.25 to $3.00 per SF. Residential development with Retail on the ground floor is very active. Pasadena Playhouse Plaza is under construction. The plaza will be a 5-story 153,000 SF Office building located at 600 E Colorado

Boulevard.

Office vacancy is moderately decreasing because of job growth.INTERESTING FACT: INTERESTING FACT: By 1923, Los Angeles produced one-quarter of the worlds oil. It still sits atop the third largest oil field in the country.

Population of MSA


4,514,373Household Median Income


6.50%

(818) 334-1900www.cbcalliance.com

Vacancy

Absorption

Rental Rates

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CA - Los Angeles, WestCA - Los Angeles, West

MARKET HIGHLIGHTS

Coldwell Banker CommercialWESTMAC

1515 Sepulveda Blvd.Los Angeles, CA 90025

CONTACT

Playa Vista is a tech hot bed with Google buying 12 acres for development. Upon completion, they will have over 1,000,000 SF of space and 6,000 well paying jobs.

Hines buys into partnership of Century Park, which includes Century Plaza Towers, valuing the buildings at over $750/SF for over 3 million SF.

The Apple Store on Third Street Promenade sold for a record price of $5,700/SF for 17,550 SF which was less than a 3% cap rate. Riot Games expanded again, taking 77,000 SF, bringing their total occupancy to over 350,000 SF for West L.A. West Los Angeles continues to strengthen with higher rents and lower vacancies. The hot areas include Beverly Hills, Santa

Monica, Venice, Brentwood, Malibu, Pacific Palisades, Culver City, Playa Vista, Marina Del Rey and Westwood.

INTERESTING FACT: INTERESTING FACT: The owner of the St. Louis Rams plans to build an NFL stadium in Inglewood, which could pave the way for the leagues return to Los Angeles.

Population of MSA




8.30%

(310) 478-7700www.westmac.com

Vacancy

Absorption

Rental Rates

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10

CA - Napa/Sonoma ValleysCA - Napa/Sonoma Valleys

MARKET HIGHLIGHTS

Coldwell Banker CommercialBrokers of the Valley

1775 Lincoln AvenueNapa, CA 94558

CONTACT

The 6.0 earthquake that rocked Napa Valley in August 2014 caused significant damage to both residential and commercial properties, especially in downtown Napa.

Inventory across all sectors of the commercial market remained very tight. After a 30-year absence, two-way thoroughfares returned to downtown Napa, much to the delight of merchants, especially after

all related construction projects were finished.

Up Valley, especially in Calistoga, the market trended upward with many new clients wanting to ride the coattails of the bustling Hotel/Hospitality sector.

The availability of Multi-Family residential investment properties was especially scarce throughout the region.INTERESTING FACT: INTERESTING FACT: Only 4% of Californias wine grapes come from the Napa Valley and only 9% of Napa County is planted in grapes.

Population of MSA




5.10%

(707) 224-8454www.napacommercialproperties.com

Vacancy

Absorption

Rental Rates

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CA - Orange CountyCA - Orange County

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Newport Beach CA

840 Newport Center Drive, Suite 100Newport Beach, CA 92660

CONTACT

Irvine Company has a 425,000 SF spec Office tower under construction in the Irvine Spectrum. Investment cap rates remain low in the coastal areas. Angel Stadiums 825 acre Platinum Triangle is getting ready for the 2nd phase of development. INTERESTING FACT: INTERESTING FACT: John Wayne Airport, named after the actor who famously made Orange County his home in the years before his death, is considered one of the nations busiest airports, not for its commercial flights, but because of the hundreds of small private aircraft that use it on a regular basis.

Population of MSA




2.70%


Vacancy

Absorption

Rental Rates

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11

CA - Riverside County (Southwest)CA - Riverside County (Southwest)

MARKET HIGHLIGHTS

Coldwell Banker CommercialSudweeks Group

One BetterWorld Circle, Suite 301Temecula, CA 92590

CONTACT

Transition Properties, LP purchased 27565 Diaz Road, Temecula, CA - a 131,843 SF Industrial/Distribution building on a sale-lease back basis to Southwest Traders for $10.3M.

The recently completed Makena Medical Office Project in Temecula is the first of several medical office projects to be completed near the recently opened Temecula Valley Hospital.

All Industrial buildings currently under construction in the Southwest Riverside region are 100,000+, with the majority of new development occurring in the City of Perris, CA.

All sectors continue to improve as rental prices continue to rise, and vacancies continue to fall. The unemployment rate in Riverside County is now at 7.4%, down from 8.9% in the previous year.INTERESTING FACT: INTERESTING FACT: Riverside county is the 11th most populous county in America.

Population of MSA




7.40%

(951) 200-7683www.cbcsocalgroup.com

Vacancy

Absorption

Rental Rates

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CA - Sacramento Valley (Northern)CA - Sacramento Valley (Northern)

MARKET HIGHLIGHTS

Coldwell Banker CommercialC&C Properties

2155 Larkspur Ln., Suite ARedding, CA 96002

CONTACT

Retail vacancy has been holding steady despite the closure of a 60,000 SF grocery store. Several food tenants are in the market, but good sites are hard to find. At least 2 shopping centers have entered early phases of design/development and entitlements. Residential construction is still struggling, though fundamentals suggest 2015 will be a strong year. Slowly recovering economy gives modest encouragement to local retailers.INTERESTING FACT: INTERESTING FACT: Redding is the home of the world famous Sundial Bridge and is less than 1 hour from 7 State or National Parks. The Sacramento River runs through town, and Mt. Shasta & Lassen are less than 70 miles away.

Population of MSA




7.00%

(530) 222-2011www.cbcnorthstate.com

Vacancy

Absorption

Rental Rates

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12

CA - San Bernardino/Inland EmpireCA - San Bernardino/Inland Empire

MARKET HIGHLIGHTS


1901 Orange Tree Lane, Suite 250Redlands, CA 92374

CONTACT

The two largest leases were the 1,445,200 SF Industrial building lease signed by Walmart at Majestic Chino Gateway and 718,025 SF Industrial building deal signed by Ozburn-Hessey Logistics LLC at I-210 Logistics Center I.

The Inland Empire continued to improve in all sectors with higher rental rates and decreases in vacancy. While 2014 saw new construction in both the Retail and the Industrial sectors in the Inland Empire, there was no new Office

construction.

The unemployment rate for San Bernardino County fell to 7.0 % in December 2014, down from 7.6 % the previous year. INTERESTING FACT: INTERESTING FACT:

Population of MSA




7.00%


Vacancy

Absorption

Rental Rates


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CA - San DiegoCA - San Diego

MARKET HIGHLIGHTS


4365 Executive Drive, Suite 710San Diego, CA 92121

CONTACT

The One La Jolla Center, a 305,952 SF 14-story Office building, is currently under construction in the prestigious UTC area of San Diego and is expected to be completed in August 2015.

CEVA Logistics at Mission Trails Industrial Park signed the largest lease at 125,000 SF. Across all sectors, the conditions continue to improve with rates rising and vacancies falling from the previous year. 2015 is expected to be a steady and strong year for the housing market in San Diego as both housing prices and interest rates are

predicted to increase as the year progresses.

The Unemployment Rate in San Diego is steadily decreasing. In December 2014, it was 5.8 %, down from 6.5 % in December 2013. This trend is expected to continue into 2015.

INTERESTING FACT: INTERESTING FACT: The San Diego Harbor sees off over 200 cruise ships each year.

Population of MSA




5.80%


Vacancy

Absorption

Rental Rates

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13

CA - San Francisco/Peninsula Bay AreaCA - San Francisco/Peninsula Bay Area

MARKET HIGHLIGHTS

Coldwell Banker CommercialWestbay Real Estate Group

1575 Bayshore Hwy., Suite 100Burlingame, CA 94010

CONTACT

Major tenants that have moved into the region include: Google, buying a 1,481,921 SF facility in Redwood City; Tesla, expanding in Fremont to 302,564 SF; Apple, also expanding in Fremont to 102,919 SF; Salesforce, buying a 817,412 SF facility in San Francisco.

2014 was the strongest year for occupancy growth in the Bay Area. Demand continues to be driven by tech companies, which account for 80% of all occupancy growth. Even though there is quality space at cheaper rents and access to workforce is readily available in the East Bay, tech users

continue to cluster in San Francisco and Silicon Valley.

Asking rates will continue to remain aggressive as space becomes increasingly limited.INTERESTING FACT: INTERESTING FACT: The computer mouse was invented in the Silicon Valley.

Population of MSA




4.40%

(650) 344-4300www.cbcburlingame.com

Vacancy

Absorption

Rental Rates

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CA - Yuba/Sutter CountiesCA - Yuba/Sutter Counties

MARKET HIGHLIGHTS

Coldwell Banker CommercialValley Brokers

1307 Franklin RoadYuba City, CA 95993

CONTACT

Agricultural land prices are at an all time high with low inventory. Continued drought and high commodity prices will keep land prices high.

Continued drought conditions have hampered a full recovery of the local agricultural based economy. New construction continues on the Sutter County Courthouse and Sierra Central Corporate Headquarters. Construction was completed on two new state-of-the-art auto dealerships. Residential values have stabilized with a major decline in foreclosures and short sales.INTERESTING FACT: INTERESTING FACT: Sutter County is home to the worlds smallest mountain range, the Sutter Buttes.

Population of MSA




13.10%

(530) 673-6614www.cbcyc.com

Vacancy

Absorption

Rental Rates

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14

CO - DenverCO - Denver

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlliance

999 18th Street, Suite 1350SDenver, CO 80202

CONTACT

Denver is ranked as the Top Commercial Real Estate Market in the country by the Coldwell Banker Commercial Comparison Report. The report examined more than 80 markets based on the percent change in vacancy and rental rates for the office, retail and multi-family sectors from Q3 2013 through Q3 2014, as well as population and unemployment changes over the same time.

The Denver Office Market ended Q4 2014 with a vacancy rate of 10.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 783,730 SF in Q4, ending the quarter at 1,183,487 SF vacant. Rental rates ended the quarter at $23.26 - an increase over the previous quarter.

Top 3 sales in Denver 2013-2014: Republic Plaza, 370 17th Street, Denver CO, $240 M Buyer: MetLife Inc.; Park Central Plaza, 1515 Arapahoe Street, Denver CO, $213 M Buyer: Invesco LTD.; Avaya Building, 1300 W 120th Ave. Westminster CO, $92 M Buyer: Griffin Capital Essential Asset REIT, Inc.

The Denver Retail market remained relatively flat with regard to market conditions in Q4 of 2014. The vacancy rate went from 5.8% in the previous quarter to 5.7% in the current quarter. Net absorption was positive 435,814 SF, and vacant sublease space increased by 3,997 SF. Quoted rental rates increased from 3Q 2014 levels, ending at $15.17/SF per year.

The Denver Industrial Market ended the 4Q 2014 with a vacancy rate of 4.6%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 1,457,613 SF in the 4Q. Vacant sublease space increased, ending the quarter at 1,060,683 SF. Rental rates ended the 4Q at $7.29, an increase over the previous quarter.

Population of MSA




3.90%


Vacancy

Absorption

Rental Rates


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CO - WesternCO - Western

MARKET HIGHLIGHTS

Coldwell Banker CommercialPrime Properties

2499 Hwy 6 & 50Grand Junction, CO 81505

CONTACT

Q4 sales in all markets have improved from the previous year; otherwise, 2014 overall sales trended similarly to those in 2013. Industrial vacancy rates are rising as energy service companies vacate some long-term tenancies. New construction is now beginning to grow, primarily due to hospital expansion and growth in the entire medical industry. Housing prices are rising again, a trend that began in Q2 of 2011. Investors once again returned to the local market in 2014. Single-tenant NNN investment sales led the way in many of the years

largest sales.

INTERESTING FACT: INTERESTING FACT: The Grand Junction to Palisade area in western Colorado is home to the states greatest peach crop and a growing wine industry. Colorado wines have gained international favor. The mild, 4-season climate is great for orchards and vineyards, and the local monuments and mountains help the area rank high in tourism for the state.

Population of MSA




5.30%

(970) 243-7375www.grandjunctioncommercial.com

Vacancy

Absorption

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15

CT - Fairfield CountyCT - Fairfield County

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - Wilton CT

77 Old Ridgefield RoadWilton, CT 06897

CONTACT

Fairfield Countys Office market ended Q4 of 2014 with a vacancy rate of 14.2%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 66,119 SF in Q4.

Fairfield Countys available vacant-sublease space decreased in the quarter, ending at 204,413 SF. Rental rates ended the quarter at $32.91, a decrease over the previous quarter. One building delivered to the market totaling

5,712 SF, with 62,000 SF still under construction at the end of the quarter.

Among the significant movements in 2013 were: 137,375 SF lease Deloitte at BLT Financial Centre, 126,017 SF deal Starwood Hotels & Resorts Worldwide Inc. at Stamford Harbor Park, 103,596 SF lease United Healthcare at Reservoir Corporate Centre Phase 1. The average quoted asking rental rate was $32.91.

Notable construction project in 2014: Maple Medical Center Building 2, at 28,000 SF.INTERESTING FACT: INTERESTING FACT: Fairfield county contains Connecticuts Gold Coast which ranks 6th in per-capita personal income in the entire United States.

Population of MSA




3.90%


Vacancy

Absorption

Rental Rates

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DE - Sussex CountyDE - Sussex County

MARKET HIGHLIGHTS

Coldwell Banker CommercialResort Realty

20184 Coastal HighwayRehoboth Beach, DE 19971

CONTACT

Since the early part of the year, Delaware has begun to improve across all sectors. The Resort area (Sussex County) has seen year over year improvement and some increase in values.

Milford Hospital has announced the start of construction of a new facility estimated to be completed in 2017. Vacancies in the commercial market are slowly improving and lease rates are stabilizing. $3.2 M approved for Frederica Sports Complex. After three years of tireless meetings, debates and presentations by GDC, the

Delaware Infrastructure Investment Committee approved more than $3.2 M for the project that has a predicted $18 M annual economic impact.

In Sussex County, a debate is on the horizon relating to a proposal to build a major shopping center in a 114 acre plot of farmland. The location is in Lewes-Milton. The land is located on Coastal Highway Northbound. If you combine all of the Tanger Outlets together located in Sussex County Delaware, it would only make up about half of this proposed site.

INTERESTING FACT: INTERESTING FACT: Home of the infamous Pumpkin Chunkin World Championships. This area is a beautiful resort area in the southern part of the state and is also home of the Apple Scrabble Festival in Bridgeville.

Population of MSA




5.20%


Vacancy

Absorption

Rental Rates

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16

FL - Brevard CountyFL - Brevard County

MARKET HIGHLIGHTS

Coldwell Banker CommercialParadise

232 Fifth AveIndialantic, FL 32903

CONTACT

Bass Pro Shops opened at Palm Bay Road & I-95. Viera continues to attract new retailers such as TJ Maxx, Home Goods and Fresh Market in the Suntree area.

Vacancy rates are falling due to the large hiring numbers in the thousands with companies such as Northrop Grumman Advanced Aviation Design Center, Embraer with its private jet manufacturing, which includes the Phenom & Legacy private jets, and the private space launch companies such as Boing & Space X.

Largest LNG Plant in the US approved in Titusville is being developed by Flagler Investments. The $250 M project will employ several hundred people. Port Canaveral expands with an Inland Port distribution center and a 9,000 car parking garage for automobile processing.

Residential market throughout Brevard County is flourishing. Existing home inventory is down to 3 months. New starts are up dramatically. Viera is exploding with thousands of new housing units with 4 new 2,000 acre villages in the near future.

The greatest change in the Brevard County market is the privatization of space with the former NASA job loss being absorbed by companies like Boing & Space X. Port Canaveral is expanding cruise terminals to handle 5,000 passenger mega ships. The channel is being dredged to handle the super cargo ships from the Panama Canal.

INTERESTING FACT: INTERESTING FACT: The Melbourne area is home to over 14 fortune 500 companies, including the world headquarters of Harris Corp.

Population of MSA




5.70%

(321) 951-3300http://cbc.flcoldwellbanker.com

Vacancy

Absorption

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FL - Charlotte CountyFL - Charlotte County

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT-Sarasota

1800 2nd Street, Suite 104Sarasota, FL 34236

CONTACT

In Charlotte County, the building permit for the Chaney Brothers new distribution facility has been issued. The 345,000 SF center will be located on Piper Rd at the Charlotte County Airport in the Punta Gorda Interstate Airport Park located off I-75. It is anticipated that Cheney Brothers will employ 300 people and become one of the largest private employers in the county.

Vacancy in most sectors of the Charlotte County commercial market is falling or being reduced. Gray shell Office/Retail space is slowly being absorbed in the 1,000-3,000 SF range. Demand for Class A newer Medical is picking up which may lead to the construction of new Medical complexes and completion of the approximately 60,000 SF of dirt floor shell Medical that has laid dormant since 2005.

New construction of Commercial speculation space is non-existent. The market has seen a small increase in owner-user space. Charlotte Multi-Family vacancy by unit mix is between 0-2% with rents increasing steadily. After a decade of being passed over by the Retail site selectors, Charlotte County has seen a great increase in site exploration for

HH Greg and Costco. In acquisitions and development, deals have been done with LongHorn Steak House, Culvers, OReilly Auto Parts, Gordon Foods, Walmart neighborhood centers and 7 Eleven.

INTERESTING FACT: INTERESTING FACT: Charlotte Countys population is about 159,978. It boasts to having the largest and cleanest bodies of water, and the eco tour and clean environment attracts the baby boomers to the community. It has been known to be one of the most affordable

Population of MSA




5.10%


Vacancy

Absorption

Rental Rates

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17

FL - Daytona Beach/Ormond Beach, Volusia CountyFL - Daytona Beach/Ormond Beach, Volusia County

MARKET HIGHLIGHTS

Coldwell Banker CommercialBenchmark

570 Memorial Circle, Suite 300Ormond Beach, FL 32174

CONTACT

To supply Trader Joes growing store count in the Sunshine State, an 868,000 SF Warehouse, cold storage and distribution center is presently under construction along I-95 in Daytona Beach. Blue Coast Bakers recently relocated from out of state to a 200,000 SF location in Ormond Beach. These two companies alone will create up to 750 new jobs.

Daytona International Auto Mall, along I-95, is expanding from 9 to 12 acres with the addition of two new dealerships that will sell Maseratis and Mini Coopers.

Daytona International Speedway continues to move forward on the $480 M Daytona Rising project, which is a total renovation and addition to the worlds largest motorsports stadium. Stay up to date with the earthcam.net construction camera which is updated every 15 minutes.

Increased event activity at the Ocean Center Convention complex continues to push up occupancy and average daily room rates for Hotels/Motels, along the Worlds Most Famous Beach. Three large beachside hotels have completed their full renovations with several others in the process of partial renovations or complete major renovations.

Daytona Beach International Airport passenger count continues to rise with the 2014 passenger count being higher than 2013. The total passenger traffic for 2014 was the highest level of annual passenger traffic since 2007.

INTERESTING FACT: INTERESTING FACT: Volusia announces another 21 projects in the pipeline of companies either expanding or relocating to the county that could potentially create more than 1,000 jobs.

Population of MSA




5.30%

(386) 672-8530www.benchmarkcommercialfl.com

Vacancy

Absorption

Rental Rates

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FL - Florida Keys and Key WestFL - Florida Keys and Key West

MARKET HIGHLIGHTS

Coldwell Banker CommercialSchmitt Real Estate,Co

11050 Overseas Hwy.Marathon, FL 33050

CONTACT

Publix is expanding its footprint in the Keys, adding to its existing 4 stores by acquiring a site in Islamorada and expanding its store in Marathon. Dollar Tree has added two new stores, one in Key Largo and one in Marathon. Starbucks is also adding another store in Key West.

The economic recovery driven locally by increased tourism has resulted in absorption of most of the vacancy in Retail and Office space. The high cost of new construction along with the significant constraints on development insulate the market from any overdevelopment of commercial space.

Significant new construction in the Hospitality sector Keys-wide includes the Hyatt Place and Marriott Courtyard in Marathon, Marker Resort in Key West and the Marriott Autograph in Key Largo.

The State of Florida has extended the Rate of Growth and Building Permit allocation systems in the Keys providing for continued measured residential growth; allowing for 3,500 new homes over the next 10 years. The moratorium on new transient units has been continued, which only provides for redevelopment of existing hotels, motels and RV parks.

The number of listings for sale (and lease) continues to decline while sales increase, resulting in price increases averaging almost 1% per month during 2014.

INTERESTING FACT: INTERESTING FACT: The Florida Keys and Key West economies are largely tourism driven and enjoy some of the highest ADR and occupancy rates in the country with unique attractions and activities from Key Largo to Key West.

Population of MSA




3.20%


Vacancy

Absorption

Rental Rates

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18

FL - GainesvilleFL - Gainesville

MARKET HIGHLIGHTS

Coldwell Banker CommercialM.M. Parrish

7515 W. University Avenue, Suite 201Gainesville, FL 32607

CONTACT

Percentage of commercial sales vs. leases is significantly up. Last year, there were far more leases, but sales are back on the upswing.

Nearly every big box Industrial Warehouse was leased or sold in 2014, after sitting dark for years prior. Apartment occupancy averages 95+%, rents have increased, and there is a major desire for value added deals; for example, deals

closer to University of Florida and senior housing.

Office sale prices have crept up slightly to $95-110/SF on average. Retail leasing under 1,500 SF is hot; many big box stores are coming to town in new large developments, and Gainesville has

really been put on the map with most of the top Retailers.

INTERESTING FACT: INTERESTING FACT: Gainesville has been voted Best Place to Live by a number of national magazines and survey outlets.

Population of MSA




4.30%

(352) 264-3772www.mmparrish.com/commercial

Vacancy

Absorption

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FL - JacksonvilleFL - Jacksonville

MARKET HIGHLIGHTS

Coldwell Banker CommercialBenchmark

4348 Southpoint BlvdJacksonville, FL 32216

CONTACT

Jacksonvilles new professional soccer team Armada FC opened their inaugural season in February hosting MLS Philadelphia Union at EverBank Field (Home of the Jacksonville Jaguars). The team will be supported by three branches of the U. S. military: Navy, Marines and Coast Guard. 500 members of the military and their families have been invited to attend the opening match.

A new report from the Small Business Administrations Office of Advocacy shows that Florida is home to 2,180,556 small businesses that employ 3,000,167 workers. Top industries include health care & social assistance, accommodation & food services, and professional, scientific and technical services. North Florida leads the state in SBA activity and has increased its SBA lending by 25%.

The buyer of the Seagrass Apartments on San Pablo Road are newcomers to the Jacksonville Multi-Family market. The 397-unit community is one of the largest single Multi-Family sales in that part of the city in recent years. The InterTech Group Inc., which paid $56 M for the property, is a family-owned holding company based out of North Charleston, South Carolina.

UF Health Jacksonville will open a new hospital near Jacksonville International Airport. The project involves opening a medical office building, including an emergency room and operating suites in early 2015, and then opening a hospital bed tower in 2017.

The Harrell Construction Company Inc. will build a $4.3 M base station for the Anastasia Mosquito Control District of St. Johns County in St. Augustine. The buildings will have a total of 22,000 SF.

Population of MSA




5.10%

(904) 281-1990www.cbcbenchmark.com

Vacancy

Absorption

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19

FL - Lakeland-Winter Haven MSAFL - Lakeland-Winter Haven MSA

MARKET HIGHLIGHTS

Coldwell Banker CommercialSaunders Ralston Dantzler Realty

114 N Tennessee, 3rd FloorLakeland, FL 33801

CONTACT

The Lakeland-Winter Haven metropolitan statistical area is enjoying strong population growth, now over 630,000 and is growing 45% faster than the rest of the US.

Employment is recovering. Particularly notable is expansion of Publix and Mosaic, as well as healthcare and distribution. Limited new construction means that vacancy is falling.

Ramco Gershsenson opened the 211,000 SF Lakeland Park Center shopping center at I-4/US-98. There is continued Warehouse Distribution expansion including 1,000,000 SF Amazon at County Line Road. Also, there is a new Federal Express warehouse planned at US-27/I-4.

Home sales numbers and prices as well as permit activity are up nearly 20% over 2013. Subdivisions and lots that have been dormant since the recession began are now ramping up.

Lakeland-Winter Haven has a locational advantage as center of Florida and the middle of the I-4 corridor that fuels increased Warehouse distribution activity. Prices are lower than Orlando or Tampa, so continued strong demand is anticipated for years to come.

INTERESTING FACT: INTERESTING FACT: Florida Poly, Floridas 12th university, opened in Fall 2014, creating attention to STEM and related jobs. The LEDC business incubator in downtown Lakeland is drawing attention and spinning off new businesses. LEGOLAND Florida and Streamsong are helping drive increased tourism (up nearly 10%). Lakeland Hospital is planning a $250 M expansion.

Population of MSA




6.10%

(863) 648-1528www.srdcommercial.com

Vacancy

Absorption

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FL - Manatee CountyFL - Manatee County

MARKET HIGHLIGHTS



CONTACT

The Port of Manatee in Manatee County is an economic driver for the area. Expansion of the Panama Canal and future normalization of U.S. trade relations with Cuba may provide additional opportunities for the Port.

Office vacancy rates are falling near I-75, but downtown Bradenton still has a high vacancy at 31%. Downtown Bradenton needs some new Class A buildings to draw the larger corporate tenants to the area.

Lakewood Ranch, Palmetto, Ellenton, and Parish have seen the highest levels of new residential construction, primarily single family.

Local, national and international residential development companies continue to buy vacant, undeveloped land. The area is becoming more diverse in its population. People are moving here from all over the world.INTERESTING FACT: INTERESTING FACT: Bradenton is doing a lot of redevelopment of Retail in the older portions of town. Lakewood Ranch has Medical, Dental and Pharmaceutical Colleges.

Population of MSA




4.90%


Vacancy

Absorption

Rental Rates

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20

FL - Miami-DadeFL - Miami-Dade

MARKET HIGHLIGHTS

Coldwell Banker CommercialAlliance Miami

801 Brickell Avenue, Suite 1600Miami, FL 33131

CONTACT

Vacancy rates are down in the region; absorption and rental rates are positive, but modest. Brickell City Centre, with an estimated cost of $1.05 billion and 54 M SF, is under construction. Miami Worldcenter, with an

estimated cost of $1.06 billion and 20M SF, is also under construction.

While Miami-Dades recovery proceeded slowly at first, increasing rates of job creation have now redeemed all recession-related losses. As of November, employment was up 39,500 jobs (3.7%) from the total recorded 12 months prior, following a gain of 22,900 jobs (2.2%) over the preceding 12 months.

Foreign investments continue to be key to Miamis transformation as foreign investors view the market as a safe haven for investments.

A combined total of 3,409 market-rate apartments are currently under construction, the majority of which are located in the Miami and South Beach/Bayshore submarkets.

INTERESTING FACT: INTERESTING FACT: Recent data show vigorous strength in nearly all major private industry sectors. Miamis strong international trade connections are a significant factor. Additional benefits are expected from the dredging of the port of Miami intended to help capture the larger Panamax ships that will traverse the expanded Panama Canal beginning in 2016.

Population of MSA




5.60%


Vacancy

Absorption

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FL - Miami-Dade CountyFL - Miami-Dade County

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT- Boca Raton

1800 NW Corporate Blvd, Suite 100Boca Raton, FL 33431

CONTACT

The Miami-Dade market is extremely unique as it has become a safe haven for foreign investors from all over the world to invest their capital in a safe and secure environment. There is a tremendous amount of capital chasing deals.

One of the largest Office transactions in 2014 was the sale of 220 Alhambra Circle in Coral Gables, which is a highly desired sub-market in Miami-Dade County. The 180,000 SF Office building sold for $75,000,000 or $416.67/ SF and closed in October 2014.

Large Office leases in 2014 included: 117,705 SF signed by Akerman Senterfitt LLP at Brickell city Centre Green; 73,290 SF signed by Miami Childrens Hospital at 5301 Waterford in the Miami Airport Market; and 60,514 SF signed by Merril Lynch & Co. at 355 Alhambra Circle in Coral Gables.

One of the largest Retail transactions in 2014 was the sale of 800 Lincoln Road in Miami Beach, which is a 17,642 SF Retail Center that sold for $88,200,000 or $4,999.43/SF and closed in October 2014.

One of the largest Industrial transactions in 2014 was the sale of 1151 NW 1st Place in Miami which is a 65,000 SF Industrial building that sold for $53,000,000 or $827.69/SF and closed in September 2014 as a sale-leaseback.

INTERESTING FACT: INTERESTING FACT: Miami-Dade is home to Miami Marlins Baseball, Miami Heat Basketball and Miami Dolphins Football. Known for the beautiful beaches and tropical weather, Miami-Dade has now become a home for International trade, business, finance and banking.

Population of MSA




5.60%


Vacancy

Absorption

Rental Rates

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21

FL - Orlando MSAFL - Orlando MSA

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT-Maitland

901 North Lake Destiny Drive, Suite 110Maitland, FL 32751

CONTACT

With the advent of the Orlando areas new SunRail, the new Dr. Phillips Performing Arts Center and multiple other area projects, new jobs and falling vacancies have returned Orlando to one of the top growing areas in the country!

New jobs emerging in multiple economic sectors, including the return of baby boomer retirees, have dramatically increased the migration to the Orlando area as the landing pad of Florida.

New construction has continued to blossom in all real estate sectors, with new projects in the Lake Nona Medical City area and several infill projects in Winter Park and Downtown Orlando, including new municipal projects like the Orlando City Soccer Stadium.

Residential transactions and values have gone up significantly over the last 12 months, including home builders ramping up new developments in emerging areas. Additionally, re-profiling infill urban residential and suburban subdivision remains strong as custom builders look to take advantage of existing lots and redevelopment projects left over from the downturn.

The Orlando area continues to grow beyond the economic boundaries of tourism, real estate and agriculture. New Technologies and their manufacturers continue to seek out Orlando as a home for their corporate offices, as well as their research/development and logistics.

INTERESTING FACT: INTERESTING FACT: Orlando is known as the #1 tourist destination in the world! Destinations like World Walt Disney World, Universal Studios, SeaWorld and others draw over 55 million visitors per year! Little known fact: Orlando intends to become the Biomedical Capital of the South with Lake Nonas Medical City featuring Burnham Research, UCF, UF and FIT!

Population of MSA




5.00%


Vacancy

Absorption

Rental Rates

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FL - Palm Beach CountyFL - Palm Beach County

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT - FL

1800 NW Corporate Blvd., Suite 100Boca Raton, FL 33431

CONTACT

The Palm Beach County Office market is shifting to a landlords favor with an overall decrease in vacancy rate to approximately 21%.

The largest Office lease signed in Palm Beach County (Boca Raton) was 77,340 SF by the Cancer Treatment Centers of America. Properties are changing hands with the expectation that value-added improvements will allow for increased rents and an

improving market will decrease vacancy. The properties changing hands are primarily Class A.

INTERESTING FACT: INTERESTING FACT: More than 2M people visit Palm Beach County each year, and spend around $3 billion while they are visiting.

Population of MSA




4.80%


Vacancy

Absorption

Rental Rates

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22

FL - Putnam CountyFL - Putnam County

MARKET HIGHLIGHTS

Coldwell Banker CommercialBen Bates, Inc.

3400 Crill Avenue, Suite 1Palatka, FL 32177

CONTACT

Goodys clothing store moved out of the major business district of Palatka, FL. The vacancy rate in Putnam County, FL is remaining stable. Walmart Express is currently under construction in Interlachen, FL. It is the first prototype of its kind in the State of Florida. The number of residential properties sold in Putnam County, FL is up 12%. The average sales price is $82,208. The general market in Putnam County, FL continues to be a stable market. Palatka and Putnam County are the hub of North

Central Florida. It is less than an hours drive from St. Augustine, Gainesville, Jacksonville and Ocala and only 2 hours from Orlando.

INTERESTING FACT: INTERESTING FACT: Putnam County, FL is the Bass Capital of the World. Several major bass tournaments have been held in Palatka. Palatka was also the base for William Bartrams Florida expeditions.

Population of MSA




7.10%


Vacancy

Absorption

Rental Rates

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FL - Sarasota CountyFL - Sarasota County

MARKET HIGHLIGHTS



CONTACT

The University Town Center Mall opened in October of 2014 in Sarasota County. This is a Benderson/Taubman collaboration of 880,000 SF. It is the only new mall to open in the USA in 2014. The land at the Quay has been purchased. There is a grass roots movement called 20/20 Bayfront which is working with the local government for recommendations as to the highest and best use for this valuable property.

The vacancies are decreasing in all sectors of the commercial real estate market. This is due to more businesses and individuals who are looking for the quality of life this area has to offer.

There are an estimated 284,692 SF of residential apartments, condominiums, townhouses, and hotel rooms projected for completion within the next two years in the downtown Sarasota market. This includes 996 apartments, 1,434 condominiums & townhouses, and 1,123 hotel rooms.

Vacant residential Land is still in high demand. Single family home new construction has increased dramatically with local, international and national companies buying land for future developments.

With the opening of the mall at UTC, traffic along I-75 and the interchanges in both Bradenton and Sarasota have increased proportionately. A divergent diamond is proposed for the University Parkway interchange.

INTERESTING FACT: INTERESTING FACT: The area is known for beautiful beaches, wonderful weather and cultural opportunities.

Population of MSA




4.90%


Vacancy

Absorption

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FL - Sebastian/Vero BeachFL - Sebastian/Vero Beach

MARKET HIGHLIGHTS


1950 U.S. Highway 1Vero Beach, FL 32960

CONTACT

Health Care Industry expansions continue in Indian River County with the ground breaking of the $40M Indian River Medical Centers (IRMC) Scully-Welsh Cancer Center. This deepens IRMCs long affiliation with Duke Medical Center having opened the Duke Heart Center in 2009. Medical Office buildings (MOBs) have traded in the $1M - $12M range with CAP Rates between 6-9%.

With Governor Scotts significant statewide investment and commitment to tourism, the tourist industry continues to expand statewide. To meet the growing demand, Vero Beach broke ground on a new $12M 90 room Hampton Inn & Suites, scheduled to open in March 2015. It will be centrally located in Vero Beach along the popular Retail hub of Miracle Mile.

Retail expansion continues to increase. In 2014, two new Cumberland Farms stores opened, and in 2015 a Wawa convenience store and a Walmart Neighborhood Market are well into their planning stages. Vero Beach Outlets, a 329,000 SF outlet center, was purchased by Wharton Realty Group (WRG). In addition, in Vero Beach, McDonalds, Chipotle, and Aspen Dental all opened new stores in 2014.

In 2014, Vero Beach and Sebastian ranked #1 in overall growth statewide in sales of single family homes with an 18.2% change from 2013. Median sale prices in both single family homes/town homes and condos continued to rise to $162,000 and $115,000 respectively.

Infrastructure continues to be a priority for the county with the widening of I-95 and US HWY- 1 to 6 lanes scheduled to be completed in 2015. The expanded lanes encourage access to and from the major markets of Orlando and Fort Lauderdale/Miami.

Population of MSA




6.00%


Vacancy

Absorption

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FL - SoutheastFL - Southeast

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT- Boca Raton

1800 NW Corporate Blvd, Suite 100Boca Raton, FL 33431

CONTACT

Vacancy is decreasing in all product types throughout the Southeast Florida market. There is a tremendous amount of capital chasing deals, and there is a shortage of well priced product.

One of the largest Office transactions within 2014 was the sale of 525 Okeechobee Blvd in West Palm Beach, which is a 295,933 SF Office building that sold for $150,000,000 or $506.87/SF in August of 2014.

One of the largest Office new construction projects being developed is the Brickell City Centre Green, which is a 134,523 SF building that is 89% pre-leased.

One of the largest Retail transactions in 2014 was the sale of the 11701 Lake Victoria Gardens in Palm Beach Gardens which is a 338,925 SF Retail center that sold for $141,500,000 and $417.50/SF at a 6.25% CAP.

As to the largest Retail leases: Ikea leased 416,000 SF; Macys leased 195,000 SF; Champion Porsche leased 118,197 SF; and Saks Fifth Avenue leased 107,000 SF.

INTERESTING FACT: INTERESTING FACT: Southeast Florida is known for the great weather, the wonderful beaches, and is a destination for international banking, business and tourism. Once known mostly for the tourist and produce industries, today South Florida is now home to many international corporations, banks and technology firms.

Population of MSA




4.10%


Vacancy

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FL - SouthwestFL - Southwest

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT- Naples

4851 N.Tamiami Tr., Suite 100Naples, FL 34103

CONTACT

Southwest Florida, Naples and Fort Myers have finally recovered from the 6 year depression. Housing start-ups and developments are starting to increase again, although at a much slower rate than seen in the booming years of 2005-2007.

With the recovery of Residential, the Commercial markets are starting to pick up. Prices are up, but are anticipated to increase at higher percentages in the next two years. Rent rates are also increasing and probably will for several years.

Retail is king. Vacancy is down to 7.3%. Rates are increasing with Fifth Avenue South in Naples going for $50 or more PSF and $7.50 SF pass-throughs when and if you can find space. Old Time Pottery leased 70,000 SF in Bonita Beach; 39,795 SF to RLR Logistics in Fort Myers; and 25,000 SF to The Ranch. Naples is almost fully leased with limited availabilities in small spaces at higher rates.

The Office market is recovering, but the vacancy rate sits at 12.5%. Hertz is moving their world headquarters to Estero. Other nationals are giving the area a close look; more announcements are expected soon.

The Industrial market is extremely tight in Naples. Vacancy is only 4%, and there is no spec building because rents are too low. Fort Myers has a vacancy rate of 8%.

INTERESTING FACT: INTERESTING FACT: This is a great time to invest in Southwest Florida. There has been little new construction in 6 years. The strong residential market is expected to drive the demand for commercial and Industrial.

Population of MSA




4.70%


Vacancy

Absorption

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FL - St. Lucie CountyFL - St. Lucie County

MARKET HIGHLIGHTS


411 North US Hwy 1Fort Pierce, FL 34950

CONTACT

Tradition Medical Center, which opened in 2014, is already at capacity with plans for continued expansion to its full 300 bed capacity. Nearby, Mann Research Center, which also opened in 2014, continues to lease its 45,000 SF Medical Office center. Together, both are merely the first phase in a multi-year commitment to create at 22-acre Medical Office and Life Sciences complex.

National chains and investors are eyeing the Sunshine State. Statewide, WaWa continues to build and open new stores with 25 opened in 2014 and 25 stores expected in 2015. Several will be located in St. Lucie County and on the Treasure Coast. Two national chains that are also coming to the Treasure Coast are Cumberland Farms and OReilly Auto Parts.

The Commercial market in St. Lucie County is poised for growth. Due to its central location between Orlando and Miami, South Florida commercial investors are coming back strong. With undeveloped parcels and land available for development, Land investors are back in the market. Another good sign is that several older Retail plazas are undergoing renovations and are re-tenanting.

Shrinking inventory, steady economic improvement and consumer confidence led to overall gains in the local housing market. In St. Lucie County, median single family homes prices rose 11.6% over last year to $155,000, placing it fourth in the state overall for median price growth. In addition, with 500 new construction jobs added in St. Lucie 2014, residential construction is rebounding.

Infrastructure projects have once again become a priority for the county, with expansion plans announced for several key artery roads including Floresta, Becker and the announcement of a Crosstown Parkway Bridge.

Population of MSA




5.90%


Vacancy

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25

FL - Tallahassee MSAFL - Tallahassee MSA

MARKET HIGHLIGHTS

Coldwell Banker CommercialHartung and Noblin, Inc.

3303 Thomasville RoadTallahassee, FL 32308

CONTACT

The 50,000 SF Mixed-Use Gateway Center was completed in 2014. This Class A building Downtown is anchored by a Walgreens, and the Morgan and Morgan law firm. The failing 1970s Tallahassee Mall was purchased in 2014 and will be redeveloped and repurposed.

Occupancies in all sectors are improving. Even the Office market is seeing improvement in occupancy and rental rates, especially in select submarkets. Weakness remains in the older and larger Class B and C properties, which were vacated by State of Florida agencies over the last several years.

New medical construction and expansion is well underway. The new VA Outpatient Clinic is under construction in Southeast Tallahassee, and the Capital Regional Medical Center is undergoing an $11.5 M expansion. The largest new private development under construction is the new 128,000 SF facility for FedEx Ground in the Summit East business park.

Existing single family home sales in the Tallahassee MSA increased 13.4% in 2014 over 2013. New home construction increased as well. Inventory levels remained stable at 6 months or less for all price ranges under $400,000.

The Tallahassee area continues to enjoy low unemployment rates with the Tallahassee MSA declining to 4.8% in December 2014. This is down from 5.3% December 2013.

INTERESTING FACT: INTERESTING FACT: Cascades Park opened in 2014 and has become one of Tallahassees most popular destinations. College Town has also become a popular destination with new restaurants and shops including Urban Outfitters.

Population of MSA




4.80%


Vacancy

Absorption

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FL - Tampa BayFL - Tampa Bay

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT- Tampa

5010 W. Kennedy Blvd, 2nd FLTampa, FL 33609

CONTACT

Tampa and Saint Petersburg are both experiencing a surge in urban core Apartment construction. Channelside, Harbour Island, Seminole Heights, Tampa Heights, SoHo and Ybor City all have projects under way or online. St. Petersburg also delivered multiple high-end Apartment projects and is riding a boom partially spurred by the craft brewery industry that has taken root in that citys core.

Major Industrial expansions by Amazon, FedEx and other distribution industries bode well for job expansion along the I-4 corridor. USAA announced a 420,000 SF expansion in Brandon as well. Economic expansion at a moderate pace is expected to continue.

The Office market rebounded slightly in 2014 as Bristol-Myers Squibb moved into 70,000 SF in Tampa. Laser Spine Institute leased 175,998 SF in Tampas Westshore District, the largest Office district in Florida.

Sun Dial, a 71,000 SF Retail development in burgeoning downtown St. Petersburg opened with great fanfare, including Locale Market, a 22,000 SF gourmet grocery store/restaurant that requires 60 to 80 chefs. Trader Joes is also set to open its second Tampa Bay location this spring. Ground was broken on a Simon Property Group 110-Retailer outlet mall in Wesley Chapel.

Tampa Bay Lightning owner Jeff Vinik and Bill Gates Cascade Investment announced they are partnering on an ambitious, 24-acre $1 billion project in downtown Tampa that includes Hospitality, Retail, Office, residential and a USF medical school. Vinik hopes to see dirt moving this summer.

Population of MSA




5.50%


Vacancy

Absorption

Rental Rates

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26

FL - Volusia CountyFL - Volusia County

MARKET HIGHLIGHTS

Coldwell Banker CommercialAI Group

1019 Town Center DriveOrange City, FL 32763

CONTACT

Trader Joes will be opening a regional distribution center. Strong job growth is causing vacancy rates to fall. New commercial construction is up 30% to $324,585,000. New residential construction is back as the year ended with over 1,182 permits. Sun-Rail opened Debary station, the first rail-transportation in Central Florida.

Population of MSA




5.30%

(386) 775-8633www.cbcaigroup.com

Vacancy

Absorption

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GA - AthensGA - Athens

MARKET HIGHLIGHTS

Coldwell Banker CommercialUpchurch Realty

2405 West Broad Street, Suite 150Athens, GA 30606

CONTACT

Downtown Athens continues to experience tremendous growth in the student housing sector. Over 1,000 bedrooms have come online in the last 18 months; an additional 1,200+ bedrooms are under construction; and several other projects are in the planning phase.

The 1,000,000+ SF Caterpillar Plant on the west side of Athens is now at 960 employees with plans to add another 400 jobs by 2018.

The Athens area is experiencing tremendous growth in the Medical Office sector with several hundred thousand SF of new Medical Office space now completed and occupied.

German based auto manufacturer Hring will locate its first United States manufacturing facility, creating 800 jobs by 2025 and investing $54 M into the project over the next five years, just north of Athens in Hartwell, Georgia.

INTERESTING FACT: INTERESTING FACT: Athens Georgia is home to The University of Georgia, The Georgia Bulldogs, R.E.M. and the B-52s, the city Rolling Stone named #1 College Music Scene in America.

Population of MSA




5.30%

(706) 354-7870www.upchurchrealtycommercial.com

Vacancy

Absorption

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27

GA - AtlantaGA - Atlanta

MARKET HIGHLIGHTS

Coldwell Banker CommercialMetro Brokers

3575 Piedmont Road NE Bldg 15 Suite 950Atlanta, GA 30305

CONTACT

The largest lease transaction in Q4 2014 was signed by WorldPay US: 130,000 SF at Atlantic Station in Midtown. The largest sale transaction in Q4 was Cousins Properties purchase of Northpark Town Centers Portfolio: 1.53M SF Office complex for $348M or approximately $227 PSF.

Just over 20.3 million SF of net absorption was recorded in Atlantas Industrial market in 2014, a record annual amount for the city. The Atlanta Industrial market continues to be a focal point for companies structuring warehousing and distribution networks to serve their growing business.

The Central Perimeter Office market is swarming with new construction. Currently, 1.2M SF is underway in that market, with rumors of more corporate tenants entering in Q1 2015. Lease rates increased overall by nearly $0.40 PSF to $20.37 PSF, with Class A rising $0.57 PSF. The market remains a landlord market, but tenants are now gearing occupancy towards efficiency more than cost.

Favorable signs are emanating from the Atlanta housing market. The new home market is bouncing back in an impressive way. Builders are reporting that it is challenging to meet the level of demand within the Atlanta marketplace. Median metro area sales prices were up 13.9% over 2013.

At almost 9 million SF, Q4 2014 Industrial absorption was the highest in Atlanta in 13.5 years. The average quarterly absorption totaled over 5 million SF. As a result, Atlantas Industrial vacancy rate fell below 10% for the first time since 2001.

Population of MSA




4.90%

(678) 320-4800www.cbcmetrobrokers.com

Vacancy

Absorption

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GA - Atlanta MSAGA - Atlanta MSA

MARKET HIGHLIGHTS

Coldwell Banker CommercialNRT-Marietta

37 Johnson Ferry RoadMarietta, GA 30068

CONTACT

NCR moved to Atlanta (midtown) from Gwinnett County. The move will create 1,200 new jobs, and the new location will be the world headquarters for NCR.

The overall market shows improvement and so do consumer attitudes. Also, gas prices at the pump are down! Industrial, Retail and Office sectors saw positive new construction growth in 2014. The Residential sector has improved and stablized. From Nov. 2013 to Nov. 2014, the market showed a 4.9% increase in value.

(Atlanta Journal 1.28.15)

The overall real estate market in Metro Atlanta continues to improve.INTERESTING FACT: INTERESTING FACT: Atlanta is home to the worlds largest aquarium, as well as the Atlanta Hawks, Braves, and Falcons professional sports teams. Rumor has that Atlanta will soon have a Pro Soccer team.

Population of MSA




6.40%


Vacancy

Absorption

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28

GA - ColumbusGA - Columbus

MARKET HIGHLIGHTS

Coldwell Banker CommercialKennon, Parker, Duncan & Davis

4621 River Road Suite CColumbus, GA 31904

CONTACT

Heatcraft Inc. has expanded into additional 132,000 SF manufacturing space, which has created 100+ jobs. Construction was announced and has begun on the new Blue Cross/Blue Shield call and customer service center. The total

investment of $62M will be creating 750 new jobs.

Ollies Bargain Outlet opens, absorbing 28,800 SF of Retail space on Milgen Road. Pratt & Whitney expands its manufacturing operation into an additional 100,000 SF, creating 300 new jobs. Several well-known companies have their headquarters in the region, including Aflac, Carmike Cinemas, Masterbuilt, Realtree,

Synovus, TSYS and the W.C Bradley Company. Whats more, internationally-recognized companies like Heatcraft Kysor/Warren, Kia, NCR, Pratt & Whitney and Synders-Lance have major operations in the region.

INTERESTING FACT: INTERESTING FACT: Columbus is the home of the US Armys Manuever Center of Excellence (combined Infantry and Armour branches) and the longest suburban whitewater rafting course in the United States.

Population of MSA




7.20%

(706) 256-1000www.commercialcolumbusga.com

Vacancy

Absorption

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GA - DaltonGA - Dalton

MARKET HIGHLIGHTS

Coldwell Banker CommercialKinard Realty

704 S. Thornton AvenueDalton, GA 30720

CONTACT

Engineered Floors, LLC is nearing completion of their second Dalton plant, which will bring total manufacturing space to approximately 2.7 M SF. This project has the potential to bring close to 2,000 jobs to the area.

Dalton State College, a 4 year institution, has more than 5,700 students with on-campus housing available. Georgia Northwestern Technical College with a Whitfield County campus is Northwest Georgias premier college for workforce development.

The average residential sales price in Whitfield County increased 12.5% from 2013 to 2014, according to Dalton Multiple Listing Service, Inc.

Walmart Neighborhood Market is re-developing a site near the center of town. Voters approved Tax Allocation Districts (TADS) in November 2014 to increase the opportunity for additional Retail development.INTERESTING FACT: INTERESTING FACT: Dalton GA is widely known as The Carpet Capital of the World. More than 60%