REBusinessOnline

Kansas City Industrial Market Ranks in Top 10 for Speculative Construction Growth

“If you build it, he will come.” Yes, you’ve heard the Field of Dreams reference before, but never has it rang truer than with the Kansas City industrial market. The construction of 500,000-square-foot buildings suddenly ignited tenants’ interest in that space size, so much so that in the past two years Kansas City has experienced a tremendous surge in growth. In fact, Kansas City is now ranked No. 6 on the list of the top 10 U.S. industrial markets for speculative construction …

Led by Aerospace, Wichita’s Industrial Market Shows No Signs of Slowing Down

The industrial sector remains the prime beneficiary of the numerous technological shifts occurring throughout the economy. E-commerce continues to fuel demand for distribution and warehouse space in the national industrial sector. The Wichita market remains focused on the aerospace cluster, advanced manufacturing and the growing advanced materials sector to sustain and grow the industrial segment. [caption id="attachment_202256" align="alignright" width="100"] Glenn Cox, NAI …

In Detroit, the Retail Market Continues Upward Trajectory on Several Fronts

Detroit’s economy is reinventing itself and slowly gaining its footing after the Great Recession and the city’s bankruptcy. Low interest rates supported record auto sales in 2016 and another strong showing last year, adding some stability to the metro area’s bellwether industry. [caption id="attachment_202252" align="alignright" width="100"] Ashish Vakhariya, Marcus & Millichap[/caption] A rejuvenated downtown and new, growing industries are invigorating the retail market. The …

Investors Take Notice of Office Rebound in Detroit’s CBD and Suburbs

Metro Detroit’s office recovery continues to steadily march forward. Local and national commercial real estate investors are showing a renewed appetite for buying and renovating existing buildings, and even developing new product. [caption id="attachment_202247" align="alignright" width="100"] Bill Harvey, Transwestern[/caption] The City of Detroit has experienced the quickest recovery, going from near stagnant activity with a vacancy rate of 21.5 percent to a single-digit vacancy of 8 …

Surging Demand for Apartments in Downtown Detroit Is Testament to the City

At a time when downtown Detroit is in the midst of a civic renaissance, the state of the city’s multifamily real estate market is both a reflection of larger trends and a sign of what might be in store for the Motor City in the years ahead. To keep a pulse on the market, Broder & Sachse Real Estate compiles a market study twice a year to evaluate the rental and occupancy rates of all multifamily properties downtown. [caption id="attachment_202243" align="alignright" width="100"] …

National, Regional Investors Are Drawn to Omaha’s Apartment Market

With asking rental rates increasing, an average vacancy rate of 5.7 percent and a low average asking rent per unit of just $855 per month, Omaha’s apartment market is increasingly attractive to national and regional investors. According to apartment research firm Reis, Omaha’s average asking rental rate has increased in every quarter for the past seven years, and is expected to increase by another 2.2 percent in 2018.  While not stellar growth, it continues a steady march upward that …

How the Omaha Retail Market Is Adapting to Big Box Store Closures

The pace of evolution in the retail sector is accelerating in a manner that few would have anticipated even five years ago. E-commerce has proven to be a very powerful disruptor, affecting both retailers and property owners alike. For some who have had the foresight and financial resources to adapt to this change, the disruption has brought opportunities for growth and increased market share. Clearly, not all have been able to adapt — some due to lack of execution and others seemingly …

Strong Fundamentals Are in Place for Cincinnati’s Multifamily Market

The strength of the national multifamily market has been driven by a number of factors, especially job and wage growth.  Nationally, annual job growth has been 1.5 percent and annual wage growth has been 2.9 percent, according to the U.S. Bureau of Labor Statistics. Another factor affecting the multifamily market is homeownership. In the United States, homeownership  reached 65 percent in 2008, dropped to 60 percent in 2015 and rebounded to 65 percent at the end of 2017, according to the …

Cincinnati’s Over-the-Rhine District Makes Way for Larger Office Developments

Cincinnati’s Over-the-Rhine (OTR) neighborhood has come a long way since it served as the location for gritty scenes in movie director Steven Soderbergh’s 2000 film Traffic. Gone are the 500 vacant buildings and 700 vacant lots. The disadvantage of having the highest crime rate in the city is no more. Thanks to efforts by prominent Cincinnati companies such as Kroger Co. and Procter & Gamble, as well as the Cincinnati Center City Development Corp. (3CDC), efforts to revive the …

Future Is Bright for Senior Living Development in the Twin Cities

Exciting times are in store for the senior living industry. A massive generation of baby boomers is entering the golden years of retirement and beyond, driving a wave of demand for seniors housing. The U.S. Census Bureau estimates 78 million baby boomers were born between 1946 and 1964. The youngest boomers are 54 this year and the oldest are 72, so we are just eclipsing the front end of the wave. [caption id="attachment_198293" align="alignright" width="100"] Matt Rauenhorst, Opus …

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