What area is your expertise? • Maitland Center Office Market What trends do you see presently in office development in your area? • No speculative development at this time. Who are the active office developers in your area? • Battaglia Fruit Company and Liberty Property Trust Please name one or two significant office developments in your area. What impact will these projects have on the market? • None immediately planned. Where is the majority of development taking place? Why is this area doing well? • The majority of development taking place is in Southwest Orlando. The driving factors behind this are the lack of Class A buildings in the area as well as the expansion of the timeshare and tourism industries. What area do you expect to be the next big development market? Why? • Lake Mary. This is the only market besides Southwest Orlando that has expansion capabilities without venturing past the metropolitan Orlando area. What areas are doing well in terms of office leasing? Which areas are struggling with office leasing? • Orlando as a whole is a healthy office market. The obvious weaknesses are in the sectors that deal directly and indirectly in the residential real estate …
Market Reports
What area is your expertise? • This report is for Jacksonville, Florida. Specifically, the geographic area of Duval and Northern St. Johns counties. What trends do you see presently in office development in your area? • As space becomes absorbed new construction is being planned for downtown and on the Southside. With the relative lack of new construction for 2006, current vacancy rates have hit an all time low of 11.6 percent, at the end of the third quarter. At some point in the first half of 2008, the market should see the vacancy rate drop to 10 percent indicating a reasonable healthy office market. Higher occupancy levels will likely mean an uptick in asking rents by next year. For the first half of 2007, investors spent over $212 million dollars for various prime Jacksonville office buildings. This is a new sales record for the city during a six-month period. Their actions represent a solid vote of confidence in Jacksonville’s future and a clear signal that better times are ahead for the local office market. Supporting improving conditions in the office sector is the overall strength of the local economy. Jacksonville’s location, diversified workforce and its anticipated port expansion, combined …
What area is your expertise? • Huntsville, Ala. What trends do you see presently in industrial development in your area? • Speculative construction in the 50,000 to 200,000-square-foot range What type of industrial product is doing well in your area? • 5,000 to 10,000-square-foot buildings Who are the active industrial developers in your area? • Industrial Properties of the South, Triad Development and Graham & Co. Please name one or two significant industrial developments in your area. What impact will these projects have on the market? • Graham & Co. developed a 208,000-square-foot warehouse in 2007 at 255 Short Pike Road. Triad Properties is developing a 102,000-square-foot flex building on New Loop Road across from the Huntsville Airport. Industrial Properties of the South has developed two 42,000-square-foot warehouses on Electronics Boulevard. This new speculative environment for industrial product has been a catalyst for local expansion, new business and new jobs. Where is the majority of development taking place? Why is this area doing well? • Huntsville Airport area – final parcels of Jetplex Industrial Park are being developed. What area do you expect to be the next big industrial development market? Why? • West Huntsville/Greenbrier exit. 5 miles from Interstate …
What area is your expertise? • I specialize in commercial sales and leasing in the Cool Springs submarket just south of Nashville. What trends do you see presently in office development in your area? • There continues to be speculative development in and around Cool Springs on the office side. We’re also seeing the emergence of more and more mixed-use development in the area. Specifically Boyle Investment Company’s Meridian development and Southern Land Company’s McEwen Place are creating a new dynamic in Cool Springs. Class A office condo developments are also seeing a resurgence. Caden Holdings, The Stauffer Company and Alliant Commercial each have new buildings underway that will allow smaller prospective office buyers to purchase condos in the 3,000-square-foot range and up. Who are the active office developers in your area? • Crescent Resources, Boyle Investment Co., Duke Realty and Highwoods Properties have the biggest presence in Cool Springs. Please name one or two significant office developments in your area. What impact will these projects have on the market? • The mixed-use developments mentioned earlier will allow for a better commingling of living, working and playing. The new headquarters for Nissan North America and Healthways are well underway. These …
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