office market- huntsville
TRANSCRIPT
2007 Office ReviewHuntsville / Madison
Presented by:
Kyle Collins
Senior Vice President
Primary Submarkets
Downtown 2.1M SFMadison / Jetplex 1.6M SFResearch Park 9.8M SF
Total 13.5M SF
Don’t judge a book by its cover!
Single Tenant 6.95M SFMulti-Tenant 6.57M SF
Overall Occupancy Rate: 93.2%Multi-Tenant Occupancy Rate: 90.0%
Downtown
Single Tenant 429,000 SF
Multi-Tenant 1,700,000 SF• Government• Financial• Legal
Overall Occupancy Rate: 95%Multi-Tenant Occupancy Rate:87%Rental Rates: $16-$25
Downtown
• AmSouth/Regions merger has had little negative impact
• Big Spring Summit opens at 70%
• Council Court housing project to be re-developed
• Embassy Suites Hotel opens with 295 rooms
Madison / Jetplex
Single Tenant 700,000 SF
Multi-Tenant 927,000 SF• Industrial Support• Logistical Support• Healthcare
Overall Occupancy Rate: 95%Multi-Tenant Occupancy Rate: 84%Rental Rates: $14-$18
Madison / Jetplex
• Intergraph announces completion of its privatization by Hellman & Friedman and Texas Pacific Group for $1.3B
• Hospital rights to be determined by Summer 2007
Research Park
Single Tenant 5,800,000 SF
Multi-Tenant 3,960,000 SF• Technology• Research• Defense• Bio-Tech
Occupancy Rate: 97%Multi-Tenant Occupancy Rate: 93%Rental Rates: $15 - $19
Research Park
• Projects 2006-2007 Raytheon 130,000 SF Lockheed Martin 160,000 SF Colsa Corporation 80,000 SF SAIC 100,000 SF Hudson-Alpha 260,000 SF Sparta 97,000 SF Verizon Wireless 152,000 SF Northrop Grumman 110,000 SF Bridge Street 140,000 SF Others 300,000 SF• Enhanced Use Lease (EUL) Redstone• BRAC – 15,000 Jobs?• CLP JV