REBusinessOnline

Albuquerque’s Office Market Sees Positive Absorption, New Construction

New Mexico’s office market has held steady along with the rest of the country throughout 2017. New development in areas outside of metro Albuquerque, like the Facebook development in Los Lunas, is attracting retail- and service-related businesses.  [caption id="attachment_204775" align="alignright" width="100"] Scott Whitefield, Colliers[/caption] While it remains to be seen what this means to the general commercial real estate industry, it is encouraging to see increases in activity …

Out-of-State Investors Eye Surging Dallas Retail Market

The Dallas retail market has been on a historic run over the last five years. Dallas is attracting significant attention from foreign and domestic retail investors alike for several reasons. Cap rates continue to compress, big box spaces are experiencing steady absorption, occupancy is at an all-time high of 94.6 percent, unemployment is at a historic low of 3.7 percent, population growth is holding steady and residential development remains robust. The Dallas-Fort Worth (DFW) MSA recently …

E-Commerce Industry Solves Logistics with Air Cargo in New York City

As the e-commerce industry continues to grow and evolve, demand for industrial warehouse product located in dense urban areas situated with access to transit infrastructure, particularly air transit, has grown.  The industrial sector has been experiencing multiple years of record rent growth, both locally in New York City and nationally, with average asking rents reaching nearly $30 per square foot in western Brooklyn and parts of Queens. This rapid rise in rents is driving property values …

Albuquerque’s Industrial Market Sees Strong Absorption From Warehouse, Manufacturing Users

The metro Albuquerque industrial market reported more than 39 million square feet of total industrial space as of year-end 2017. [caption id="attachment_204757" align="alignright" width="100"] Joel White, Walt Arnold Commercial Brokerage/SVN[/caption] The two largest categories of occupied space were warehouse/distribution (12.5 million square feet with 5.5 percent vacancy) and manufacturing (12.55 million square feet with 3.5 percent vacancy). The overall market vacancy rate at the end …

Land Constraints, Demand from Big Data Spur Rent Growth in D.C. Industrial Market

The 195 million-square-foot Washington, D.C., metropolitan industrial market features various sectors and centers of demand across the region. The overall market has been extremely healthy, with unique forces impacting the area’s primary regions of Northern Virginia, Suburban Maryland and Washington, D.C. The overall metro market expanded between first-quarter 2017 and first-quarter 2018. Net absorption in the period was 1.7 million square feet, albeit a significant slowdown from the …

Building Boom Forces Dallas Industrial Developers to Mix it Up

As industrial development ramps up across the country in an effort to keep pace with demand, developers are eyeing Dallas-Fort Worth (DFW) for new projects, forcing existing players to get more creative with their site selections and design elements. The DFW metroplex has experienced millions of square feet of industrial development over the past year. The market currently has more than 27.9 million square feet of space under construction. If DFW continues to expand at this pace, …

Cleveland Office Market Is on Very Solid Ground

U.S. economic growth in 2018 is expected to be the strongest in three years. The steady momentum in the Cleveland office market fully supports this forecast. Overall vacancy rates in the Cleveland metro area align with national trends in the range of 12 to 14 percent, rental rates are increasing modestly with averages in the low $20s per square foot and the market for Class A office space continues to be very tight. Tenant improvement allowances offered by landlords are rising faster than …

New Mexico’s Retail Market Gives Steady Performance

The New Mexico commercial real estate market continues to be a safe play for owners and developers in the Southwest. Albuquerque, which contains 50 percent of the state’s population, continues to drive the market with more than 80 percent of the commercial real estate transactions. [caption id="attachment_204772" align="alignright" width="100"] Jim Dountas, CBRE[/caption] A moderate supply-demand imbalance currently exists. This imbalance will allow vacant real estate to be matched up …

Charlotte Companies Getting in on Amenities Arms Race to Attract Top Office Users

Companies looking to attract and retain talent are now offering top amenities, a modern office space and a healthy work environment with a sense of community. Employees are a company’s most vital asset, and firms are willing to pay a higher rate for office space if it provides a place that employees want to work. One of the trends this year in commercial office space is enhancing the work environment. According to a recent Pew Research Center analysis, millennials have become the largest …

Oversupply, Taxes Choke Self-Storage Growth

Self-storage properties have had a pretty good run in Texas over the last several years. Surging population growth has brought more material possessions into the state, boosting absorption of existing space. In addition, ample land for development has enabled builders to bring self-storage — a submarket-specific business — to new, underserved communities. The investment side of the business has flourished as well. A capital-rich environment has sustained a healthy pace of development and …

Content Partners