CBC 2014 Blue Book

CBCworldwide.com
Download the digital edition at
MARKET INTELLIGENCE
FOR COMMERCIAL REAL ESTATE

9 Markets
95 Markets
26 Markets
 11 Markets
 97 Markets
 20 Markets
17 Markets
80 Markets
13 Markets
 9 Markets
95 Markets
21 Markets
87 Markets
14 Markets
26 Markets
 98 Markets
 14 Markets
 15 Markets
79 Markets
9 Markets
19 Markets
92 Markets
11 Markets
22 Markets
66 Markets
20 Markets
44 Markets
 81 Markets
 8 Markets
 39 Markets
88 Markets
5 Markets
17 Markets
78 Markets
9 Markets
38 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 2014
Source: Bureau of Labor Statistics
 10 Markets
 119 Markets
 3 Markets
US TRENDS*US TRENDS*
Sources of Information
Market 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 4
AL - Madison/Limestone MSA 4
AL - Mobile/Baldwin Counties 5
AL - Montgomery 5
AZ - Flagstaff/Northern Arizona 6
AR - Little Rock 6
CA - Antelope Valley 7
CA - Chico 7
CA - Inland Empire/Victorville 8
CA - Long Beach/South Bay 8
CA - Los Angeles County/San Fernando Valley/San Gabriel Valley 9
CA - Los Angeles, West 9
CA - Napa/Sonoma Valleys 10
CA - Orange County 10
CA - Riverside County (Southwest) 11
CA - Sacramento Valley (Northern) 11
CA - San Bernardino/Inland Empire 12
CA - San Diego 12
CA - San Francisco/Peninsula Bay Area 13
CA - Yuba/Sutter Counties 13
CO - Denver 14
CO - Western 14
CT - Fairfield County 15
DE - Sussex County 15
FL - Brevard County 16
FL - Charlotte County 16
FL - Daytona Beach/Ormond Beach, Volusia County 17
FL - Florida Keys and Key West 17
FL - Gainesville 18
FL - Jacksonville 18
FL - Lakeland-Winter Haven MSA 19
FL - Manatee County 19
FL - Miami-Dade 20
FL - Miami-Dade County 20
FL - Orlando MSA 21
FL - Palm Beach County 21
FL - Putnam County 22
FL - Sarasota County 22
FL - Sebastian/Vero Beach 23
FL - Southeast 23
FL - Southwest 24
FL - St. Lucie County 24
FL - Tallahassee MSA 25
FL - Tampa Bay 25
FL - Volusia County 26
GA - Athens 26
GA - Atlanta 27
GA - Atlanta MSA 27
GA - Columbus 28
GA - Dalton 28
GA - Fayette County/Peachtree City 29
GA - Greene/Putnam/Morgan 29
GA - Hinesville/Fort Stewart MSA 30
GA - Macon MSA 30
GA - Savannah 31
HI - Honolulu 31
ID - Pocatello 32
IL - Bloomington/Normal 32
IL - Champaign 33
IL - Chicagoland 33
IL - Madison/St Clair Counties 34
IL - Tazewell County 34
KS - Garden City 35
KS - Kansas City MSA 35
KY - Lexington/Fayette MSA 36
KY - Louisville MSA 36
KY - Shelby County 37
KY - Southern 37
LA - Lafayette 38
LA - New Orleans 38
ME - Midcoast/Southern 39
MD - Suburban Maryland/Washington, DC 39
MI - Lansing MSA 40
MI - Northern 40
MN - Mankato 41
MN - Minneapolis/St. Paul 41
MN - Saint Cloud MSA/Central MN 42
MS - Gulfport/Biloxi 42
MO - Springfield 43
MO - St. Joseph 43
MT - Billings 44
NE - Lincoln 44
NV - Reno/Sparks MSA 45
NJ - Northern 45
NM - Albuquerque 46
NY - Long Island 46
NY - New York 47
ND - Fargo/Moorhead 47
OH - Cincinnati 48
OH - Cleveland 48
OH - Cleveland Greater Metro 49
OK - Oklahoma City 49
OK - Tulsa/Tulsa County 50
OR - Portland 50
OR - Salem/Keizer 51
PA - Hunterdon County/Southeastern PA 51
PA - Lackawanna/Luzerne Counties 52
PA - Western 52
SC - Charleston MSA 53
SC - Columbia 53
SC - Greenville 54
SC - Myrtle Beach 54
SC - Spartanburg 55
SD - Rapid City 55
TN - Chattanooga MSA 56
TN - Knoxville Area/East Tennessee 56
TN - Nashville 57
TX - Amarillo MSA 57
TX - Austin 58
TX - Bryan/College Station 58
TX - Dallas/Fort Worth 59
TX - El Paso 59
TX - Houston 60
TX - Lubbock MSA 60
TX - Rio Grande Valley 61
TX - South/Central 61
TX - Southeast Texas 62
TX - Victoria 62
TX - Waco 63
UT - Salt Lake City 63
UT - St. George 64
UT - Utah County 64
VA - Fredericksburg 65
VA - Lynchburg 65
VA - Williamsburg/Hamptons Roads MSA 66
WA - Anacortes 66
WA - King County 67
WA - Tacoma/Pierce County 67
WA - Vacouver/SW Washington 68
WI - Dane County 68
WI - Janesville/Beloit MSA 69
WY - Cheyenne 69
INTERNATIONAL MARKETS
Australia - Brisbane, Queensland 70
Australia - Brisbane (South), Queensland 71
Australia - Gold Coast, Queensland 71
Australia - Perth 72
Australia - Sydney 72
Bermuda 73
Canada - Calgary CBD, Alberta 73
Canada - Campbell River & District, British Columbia 74
Canada - Courtenay/Comox, British Columbia 74
Canada - Edmonton, Alberta 75
Canada - Nanaimo/Regional District of Nanaimo, British Columbia 75
Canada - Nanaimo, British Columbia 76
Canada - Oakville/Mississauga/Burlington, Ontario 76
Canada - Ottawa, Ontario 77
Canada - Vancouver, British Columbia 77
Canada - Victoria/Capital Regional District, British Columbia 78
Canada - Waterloo Region, Ontario 78
Cayman Islands - Grand Cayman 79
France 79
Guatemala - Republic of 80
India - Bengaluru 80
India - Hyderabad 81
India - Mumbai 81
Ireland 82
Ireland - Dublin 82
Italy 83
Mexico - Mexico City 83
Puerto Rico - San Juan 84
Puerto Rico 84
Romania - Bucharest 85
Saint Kitts and Nevis 85
Spain 86
United Arab Emirates - Dubai 86

4
AL - BirminghamAL - Birmingham
MARKET HIGHLIGHTS
Coldwell Banker Commercial
Moore Company Realty
402 Office Park Drive, Suite 205
Birmingham, 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
1,135,513
Households in MSA
501,800
Household Median Income
$47,886
Unemployment of MSA
4.70%
(334) 262-1958
www.moorecompanyrealty.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc  cc 
AL - Madison/Limestone MSAAL - Madison/Limestone MSA
MARKET HIGHLIGHTS
McLain Real Estate
2800 Bob Wallace Avenue S.W.
Post Office Box 2199
Huntsville, 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
430,367
Households in MSA
185,606
$54,838
Unemployment of MSA
4.80%
(256) 533-3414
www.mclaincommercial.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg 
cc cc cc 
cc cc cc cc

5
AL - Mobile/Baldwin CountiesAL - Mobile/Baldwin Counties
MARKET HIGHLIGHTS
Gulf South
20757 Marina Road
Orange 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 County’s 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 BCEDA’s 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 Country’s 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 Baldwin’s 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
413,553
Households in MSA
179,982
$42,618
Unemployment of MSA
4.90%
(251) 981-8000
www.cbcgulfsouth.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg cc gg
cc cc gg cc
   
AL - MontgomeryAL - Montgomery
MARKET HIGHLIGHTS
Moore Company Realty, Inc.
312 Catoma Street, Suite 200
Montgomery, 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
375,756
Households in MSA
162,377
$45,878
Unemployment of MSA
5.50%
(334) 262-1958
www.moorecompanyrealty.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
  cc 

6
AZ - Flagstaff/Northern ArizonaAZ - Flagstaff/Northern Arizona
MARKET HIGHLIGHTS
Narico
1120 W University Ave., Suite 200
Flagstaff, 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
135,522
Households in MSA
64,065
$47,478
Unemployment of MSA
7.90%
(928) 226-3188
www.cbnarico.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg N/AN/A 
cc cc cc 
cc cc cc 
AR - Little RockAR - Little Rock
MARKET HIGHLIGHTS
Hathaway Group
2100 Riverdale Road, Suite 100. PO Box: 3730
LIttle 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 downtown’s 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
717,700
Households in MSA
312,643
$48,472
Unemployment of MSA
5.00%
(501) 663-5400
www.hathawaygroup.com
Vacancy
Absorption
Rental Rates
gg zzyzzy cc gg
cc   cc
cc cc  cc

7
CA - Antelope ValleyCA - Antelope Valley
MARKET HIGHLIGHTS
Valley Realty
42402 10th Street West, Suite E
Lancaster, 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 nation’s largest wind energy delivery infrastructure.
Population of MSA
156,633
Households in MSA
52,866
$50,193
Unemployment of MSA
10.70%
(661) 948-2644
www.cbcvalleyrealty.com
Vacancy
Absorption
Rental Rates
 zzyzzy  gg
   cc
 gg  cc
CA - ChicoCA - Chico
MARKET HIGHLIGHTS
DuFour 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 Mary’s 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 Denine’s 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
221,006
Households in MSA
96,543
$41,114
Unemployment of MSA
7.50%
(530) 895-1545
www.cbcworldwide.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg N/AN/A gg
cc cc N/AN/A cc
 cc N/AN/A cc

8
CA - Inland Empire/VictorvilleCA - Inland Empire/Victorville
MARKET HIGHLIGHTS
Real Estate Solutions
15500 West Sand Street, 2nd Floor
Victorville, 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 area’s 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
2,035,210
Households in MSA
701,332
$54,090
Unemployment of MSA
7.20%
(760) 684-8000
www.cbcdesert.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg cc
cc cc cc gg
cc  cc gg
CA - Long Beach/South BayCA - Long Beach/South Bay
MARKET HIGHLIGHTS
BLAIR WESTMAC
333 W. Broadway, Suite 302
Long 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 America’s premier seaports with an annual trade value of more than $140 B
passing through the port annually.
Population of MSA
462,257
Households in MSA
175,755
$52,711
Unemployment of MSA
6.70%
(562) 495-6070
www.cbcblair.com
Vacancy
Absorption
Rental Rates
gg zzyzzycc gg gg
 gg cc 
cc cc cc cc

9
CA - Los Angeles County/San Fernando Valley/San Gabriel ValleyCA - Los Angeles County/San Fernando Valley/San Gabriel Valley
MARKET HIGHLIGHTS
Alliance - LA County
701 N. Brand Blvd., Suite 800
Glendale, 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 world’s oil. It still sits atop the third largest oil field in the
country.
Population of MSA
13,035,870
Households in MSA
4,514,373
$58,569
Unemployment of MSA
6.50%
(818) 334-1900
www.cbcalliance.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc
CA - Los Angeles, WestCA - Los Angeles, West
MARKET HIGHLIGHTS
WESTMAC
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
league’s return to Los Angeles.
Population of MSA
524,753
Households in MSA
233,396
$87,515
Unemployment of MSA
8.30%
(310) 478-7700
www.westmac.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc

10
CA - Napa/Sonoma ValleysCA - Napa/Sonoma Valleys
MARKET HIGHLIGHTS
Brokers of the Valley
1775 Lincoln Avenue
Napa, 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 California’s wine grapes come from the Napa Valley and only 9% of Napa County is planted in grapes.
Population of MSA
139,042
Households in MSA
54,950
$67,203
Unemployment of MSA
5.10%
(707) 224-8454
www.napacommercialproperties.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
   
cc cc cc cc
CA - Orange CountyCA - Orange County
MARKET HIGHLIGHTS
NRT - Newport Beach CA
840 Newport Center Drive, Suite 100
Newport 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 Stadium’s 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
85,186
Households in MSA
43,460
$106,333
Unemployment of MSA
2.70%
(714) 504-4649
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg cc
cc cc cc gg
  cc 

11
CA - Riverside County (Southwest)CA - Riverside County (Southwest)
MARKET HIGHLIGHTS
Sudweeks Group
One BetterWorld Circle, Suite 301
Temecula, 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
2,292,507
Households in MSA
98,444
$78,356
Unemployment of MSA
7.40%
(951) 200-7683
www.cbcsocalgroup.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
 cc gg cc
cc cc cc cc
CA - Sacramento Valley (Northern)CA - Sacramento Valley (Northern)
MARKET HIGHLIGHTS
C&C Properties
2155 Larkspur Ln., Suite A
Redding, 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
2,194,978
Households in MSA
877,029
$57,217
Unemployment of MSA
7.00%
(530) 222-2011
www.cbcnorthstate.com
Vacancy
Absorption
Rental Rates
gg zzyzzy gg 
cc cc cc 
 cc cc 

12
CA - San Bernardino/Inland EmpireCA - San Bernardino/Inland Empire
MARKET HIGHLIGHTS
Sudweeks Group
1901 Orange Tree Lane, Suite 250
Redlands, 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.
Population of MSA
2,035,210
Households in MSA
701,332
$54,090
Unemployment of MSA
7.00%
(909) 793-3600
Vacancy
Absorption
Rental Rates
cc cc N/AN/A cc
cc cc N/AN/A cc
CA - San DiegoCA - San Diego
MARKET HIGHLIGHTS
Sudweeks Group
4365 Executive Drive, Suite 710
San 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
3,175,313
Households in MSA
1,173,066
$61,382
Unemployment of MSA
5.80%
(858) 300-6777
Vacancy
Absorption
Rental Rates
gg zzyzzygg cc gg
 cc  cc
cc cc cc cc

13
CA - San Francisco/Peninsula Bay AreaCA - San Francisco/Peninsula Bay Area
MARKET HIGHLIGHTS
Westbay Real Estate Group
1575 Bayshore Hwy., Suite 100
Burlingame, 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
4,455,411
Households in MSA
1,751,920
$76,767
Unemployment of MSA
4.40%
(650) 344-4300
www.cbcburlingame.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc gg gg gg
cc cc cc cc
CA - Yuba/Sutter CountiesCA - Yuba/Sutter Counties
MARKET HIGHLIGHTS
Valley Brokers
1307 Franklin Road
Yuba 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 world’s smallest mountain range, the Sutter Buttes.
Population of MSA
167,874
Households in MSA
61,733
$47,276
Unemployment of MSA
13.10%
(530) 673-6614
www.cbcyc.com
Vacancy
Absorption
Rental Rates
 zzyzzy gg 
N/AN/A  N/AN/A 
  cc 

14
CO - DenverCO - Denver
MARKET HIGHLIGHTS
Alliance
999 18th Street, Suite 1350S
Denver, 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
2,648,027
Households in MSA
1,089,113
$62,229
Unemployment of MSA
3.90%
(303) 238-7777
www.cbcalliance.com
Vacancy
Absorption
Rental Rates
gg cc N/AN/A cc
cc cc N/AN/A cc
CO - WesternCO - Western
MARKET HIGHLIGHTS
Prime Properties
2499 Hwy 6 & 50
Grand 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 year’s
largest sales.
INTERESTING FACT:INTERESTING FACT: The Grand Junction to Palisade area in western Colorado is home to the state’s 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
147,614
Households in MSA
63,043
$47,401
Unemployment of MSA
5.30%
(970) 243-7375
www.grandjunctioncommercial.com
Vacancy
Absorption
Rental Rates
 zzyzzy gg cc
 cc cc gg
   gg

15
CT - Fairfield CountyCT - Fairfield County
MARKET HIGHLIGHTS
NRT - Wilton CT
77 Old Ridgefield Road
Wilton, CT 06897
CONTACT
• Fairfield County’s 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 County’s 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 Connecticut’s “Gold Coast” which ranks 6th in per-capita personal income in the entire
United States.
Population of MSA
933,794
Households in MSA
361,659
$81,368
Unemployment of MSA
3.90%
(203) 831-4187
Vacancy
Absorption
Rental Rates
gg zzyzzy N/AN/A gg
cc cc N/AN/A cc
gg cc N/AN/A cc
DE - Sussex CountyDE - Sussex County
MARKET HIGHLIGHTS
Resort Realty
20184 Coastal Highway
Rehoboth 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
197,145
Households in MSA
124,188
$52,710
Unemployment of MSA
5.20%
(302) 227-5000
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc 

16
FL - Brevard CountyFL - Brevard County
MARKET HIGHLIGHTS
Paradise
232 Fifth Ave
Indialantic, 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
549,664
Households in MSA
233,404
$47,839
Unemployment of MSA
5.70%
(321) 951-3300
http://cbc.flcoldwellbanker.com
Vacancy
Absorption
Rental Rates
N/AN/A zzyzzyN/AN/A cc N/AN/A
cc cc cc cc
cc cc cc 
FL - Charlotte CountyFL - Charlotte County
MARKET HIGHLIGHTS
NRT-Sarasota
1800 2nd Street, Suite 104
Sarasota, 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 selector’s, 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, O’Reilly Auto
Parts, Gordon Foods, Walmart neighborhood centers and 7 Eleven.
INTERESTING FACT:INTERESTING FACT: Charlotte County’s 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
159,978
Households in MSA
100,663
$44,378
Unemployment of MSA
5.10%
(941) 925-8586
Vacancy
Absorption
Rental Rates
 zzyzzycc gg gg
 cc cc cc
 cc cc cc

17
FL - Daytona Beach/Ormond Beach, Volusia CountyFL - Daytona Beach/Ormond Beach, Volusia County
MARKET HIGHLIGHTS
Benchmark
570 Memorial Circle, Suite 300
Ormond Beach, FL 32174
CONTACT
• To supply Trader Joe’s 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 world’s 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 “World’s 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
595,919
Households in MSA
303,064
$41,174
Unemployment of MSA
5.30%
(386) 672-8530
www.benchmarkcommercialfl.com
Vacancy
Absorption
Rental Rates
cc zzyzzycc gg gg
gg gg cc cc
gg gg cc 
FL - Florida Keys and Key WestFL - Florida Keys and Key West
MARKET HIGHLIGHTS
Schmitt 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
75,076
Households in MSA
52,716
$52,804
Unemployment of MSA
3.20%
(305) 289-6482
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
gg gg gg gg
cc cc cc cc

18
FL - GainesvilleFL - Gainesville
MARKET HIGHLIGHTS
M.M. Parrish
7515 W. University Avenue, Suite 201
Gainesville, 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
268,559
Households in MSA
120,202
$41,211
Unemployment of MSA
4.30%
(352) 264-3772
www.mmparrish.com/commercial
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc  cc
cc  cc cc
FL - JacksonvilleFL - Jacksonville
MARKET HIGHLIGHTS
Benchmark
4348 Southpoint Blvd
Jacksonville, FL 32216
CONTACT
• Jacksonville’s 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 Administration’s 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
1,377,993
Households in MSA
603,863
$51,016
Unemployment of MSA
5.10%
(904) 281-1990
www.cbcbenchmark.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg cc gg
cc cc gg cc
cc cc cc cc

19
FL - Lakeland-Winter Haven MSAFL - Lakeland-Winter Haven MSA
MARKET HIGHLIGHTS
Saunders Ralston Dantzler Realty
114 N Tennessee, 3rd Floor
Lakeland, 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, Florida’s 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
630,000
Households in MSA
280,258
$41,983
Unemployment of MSA
6.10%
(863) 648-1528
www.srdcommercial.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc
FL - Manatee CountyFL - Manatee County
MARKET HIGHLIGHTS
NRT-Sarasota
Sarasota, FL 34236
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
379,448
Households in MSA
228,395
$49,052
Unemployment of MSA
4.90%
(941) 925-8586
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
 cc cc cc

20
FL - Miami-DadeFL - Miami-Dade
MARKET HIGHLIGHTS
Alliance Miami
801 Brickell Avenue, Suite 1600
Miami, 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-Dade’s 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 Miami’s 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. Miami’s 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
5,759,926
Households in MSA
2,469,802
$46,982
Unemployment of MSA
5.60%
(305) 560-5000
www.cbcalliance.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg cc
cc cc cc cc
cc cc cc 
FL - Miami-Dade CountyFL - Miami-Dade County
MARKET HIGHLIGHTS
NRT- Boca Raton
1800 NW Corporate Blvd, Suite 100
Boca 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 Children’s 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
5,759,926
Households in MSA
2,469,802
$46,982
Unemployment of MSA
5.60%
(561) 367-4111
Vacancy
Absorption
Rental Rates
gg zzyzzy gg gg
cc cc cc cc
cc cc  gg

21
FL - Orlando MSAFL - Orlando MSA
MARKET HIGHLIGHTS
NRT-Maitland
901 North Lake Destiny Drive, Suite 110
Maitland, FL 32751
CONTACT
• With the advent of the Orlando area’s 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 Nona’s “Medical City” featuring Burnham Research, UCF, UF and FIT!
Population of MSA
2,221,842
Households in MSA
950,913
$47,119
Unemployment of MSA
5.00%
(407) 539-1000
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
gg cc cc cc
cc cc cc cc
FL - Palm Beach CountyFL - Palm Beach County
MARKET HIGHLIGHTS
NRT - FL
1800 NW Corporate Blvd., Suite 100
CONTACT
• The Palm Beach County Office market is shifting to a landlord’s 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
1,320,134
Households in MSA
665,665
$52,432
Unemployment of MSA
4.80%
(561) 479-1225
Vacancy
Absorption
Rental Rates
gg zzyzzyN/AN/A N/AN/A N/AN/A
cc N/AN/A N/AN/A N/AN/A
gg N/AN/A N/AN/A N/AN/A

22
FL - Putnam CountyFL - Putnam County
MARKET HIGHLIGHTS
Ben Bates, Inc.
3400 Crill Avenue, Suite 1
Palatka, FL 32177
CONTACT
• Goody’s 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 Bartram’s Florida expeditions.
Population of MSA
73,212
Households in MSA
36,716
$32,069
Unemployment of MSA
7.10%
(386) 328-6716
Vacancy
Absorption
Rental Rates
 zzyzzy  
   
   
FL - Sarasota CountyFL - Sarasota County
MARKET HIGHLIGHTS
NRT-Sarasota
Sarasota, FL 34236
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
379,448
Households in MSA
228,395
$49,052
Unemployment of MSA
4.90%
(941) 925-8586
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc  cc cc

23
FL - Sebastian/Vero BeachFL - Sebastian/Vero Beach
MARKET HIGHLIGHTS
Paradise
1950 U.S. Highway 1
Vero Beach, FL 32960
CONTACT
• Health Care Industry expansions continue in Indian River County with the ground breaking of the $40M Indian River Medical
Center’s (IRMC) Scully-Welsh Cancer Center. This deepens IRMC’s long affiliation with Duke Medical Center having opened the
Duke Heart Center in 2009. Medical Office buildings (MOB’s) have traded in the $1M - $12M range with CAP Rates between 6-9%.
• With Governor Scott’s 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, McDonald’s, 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
140,509
Households in MSA
76,576
$41,775
Unemployment of MSA
6.00%
(772) 460-2081
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc
FL - SoutheastFL - Southeast
MARKET HIGHLIGHTS
NRT- Boca Raton
1800 NW Corporate Blvd, Suite 100
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; Macy’s leased 195,000 SF; Champion Porsche leased 118,197 SF; and
Sak’s 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
5,759,926
Households in MSA
2,469,802
$46,982
Unemployment of MSA
4.10%
(561) 367-4111
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc  

24
FL - SouthwestFL - Southwest
MARKET HIGHLIGHTS
NRT- Naples
4851 N.Tamiami Tr., Suite 100
Naples, 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
990,268
Households in MSA
411,928
$49,028
Unemployment of MSA
4.70%
(239) 216-4949
Vacancy
Absorption
Rental Rates
 zzyzzy N/AN/A gg
cc cc N/AN/A cc
cc cc N/AN/A cc
FL - St. Lucie CountyFL - St. Lucie County
MARKET HIGHLIGHTS
Paradise
411 North US Hwy 1
Fort 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 O’Reilly 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
277,789
Households in MSA
136,914
$43,413
Unemployment of MSA
5.90%
(772) 460-2081
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
 cc cc 

25
FL - Tallahassee MSAFL - Tallahassee MSA
MARKET HIGHLIGHTS
Hartung and Noblin, Inc.
3303 Thomasville Road
Tallahassee, 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 1970’s 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 Tallahassee’s most popular destinations. College Town
has also become a popular destination with new restaurants and shops including Urban Outfitters.
Population of MSA
373,245
Households in MSA
163,558
$45,683
Unemployment of MSA
4.80%
(850) 386-6160
Vacancy
Absorption
Rental Rates
gg zzyzzygg cc gg
cc cc gg cc
cc cc  
FL - Tampa BayFL - Tampa Bay
MARKET HIGHLIGHTS
NRT- Tampa
5010 W. Kennedy Blvd, 2nd FL
Tampa, 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 city’s 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 Tampa’s 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 Joe’s 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
2,847,767
Households in MSA
1,357,866
$45,492
Unemployment of MSA
5.50%
(813) 769-1612
Vacancy
Absorption
Rental Rates
gg zzyzzy cc gg
cc cc cc cc
cc cc cc cc

26
FL - Volusia CountyFL - Volusia County
MARKET HIGHLIGHTS
AI Group
1019 Town Center Drive
Orange City, FL 32763
CONTACT
• Trader Joe’s 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
494,593
Households in MSA
254,103
$42,457
Unemployment of MSA
5.30%
(386) 775-8633
www.cbcaigroup.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
  cc 
GA - AthensGA - Athens
MARKET HIGHLIGHTS
Upchurch Realty
2405 West Broad Street, Suite 150
Athens, 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 Häring 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
196,309
Households in MSA
81,755
$39,291
Unemployment of MSA
5.30%
(706) 354-7870
www.upchurchrealtycommercial.com
Vacancy
Absorption
Rental Rates
 zzyzzy  
  cc 
 cc cc 

27
GA - AtlantaGA - Atlanta
MARKET HIGHLIGHTS
Metro Brokers
3575 Piedmont Road NE Bldg 15 Suite 950
Atlanta, 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 Center’s Portfolio: 1.53M SF Office complex for $348M or
approximately $227 PSF.
• Just over 20.3 million SF of net absorption was recorded in Atlanta’s 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, Atlanta’s Industrial vacancy rate fell below 10% for the first time since 2001.
Population of MSA
5,450,291
Households in MSA
2,182,345
$55,295
Unemployment of MSA
4.90%
(678) 320-4800
www.cbcmetrobrokers.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc  cc cc
GA - Atlanta MSAGA - Atlanta MSA
MARKET HIGHLIGHTS
NRT-Marietta
37 Johnson Ferry Road
Marietta, 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 world’s 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
5,450,291
Households in MSA
2,182,345
$55,295
Unemployment of MSA
6.40%
(404) 705-1590
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc

28
GA - ColumbusGA - Columbus
MARKET HIGHLIGHTS
Kennon, Parker, Duncan & Davis
4621 River Road Suite C
Columbus, 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.
• Ollie’s 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. What’s more, internationally-recognized companies like Heatcraft Kysor/Warren,
Kia, NCR, Pratt & Whitney and Synder’s-Lance have major operations in the region.
INTERESTING FACT:INTERESTING FACT: Columbus is the home of the US Army’s Manuever Center of Excellence (combined Infantry and Armour
branches) and the longest suburban whitewater rafting course in the United States.
Population of MSA
309,087
Households in MSA
113,239
$37,779
Unemployment of MSA
7.20%
(706) 256-1000
www.commercialcolumbusga.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg cc gg
cc cc  cc
  gg 
GA - DaltonGA - Dalton
MARKET HIGHLIGHTS
Kinard Realty
704 S. Thornton Avenue
Dalton, 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 Georgia’s 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% of the world’s carpet is
manufactured in the Northwest Georgia area.
Population of MSA
142,365
Households in MSA
55,441
$36,842
Unemployment of MSA
8.20%
(706) 226-1985
Vacancy
Absorption
Rental Rates
 zzyzzygg gg gg
 cc cc cc
cc  cc cc

29
GA - Fayette County/Peachtree CityGA - Fayette County/Peachtree City
MARKET HIGHLIGHTS
Bullard
201 Prime Point
Peachtree City, GA 30269
CONTACT
• Osmose Utilities Services is creating a new headquarters building in Peachtree City, bringing as many as 100 new jobs.
• Vacancy rates are holding steady in most sectors.
• In addition to Osmose headquarters, many existing businesses are expanding.
• The Residential market is experiencing low inventory, resulting in competition for listed properties.
Population of MSA
34,364
Households in MSA
13,407
$87,652
Unemployment of MSA
6.30%
(770) 632-1774
www.cbcbullard.net
Vacancy
Absorption
Rental Rates
gg zzyzzyN/AN/A N/AN/A gg
cc N/AN/A N/AN/A cc
cc N/AN/A N/AN/A 
GA - Greene/Putnam/MorganGA - Greene/Putnam/Morgan
MARKET HIGHLIGHTS
Lake Country
1020 Greensboro Road, NE
Eatonton, GA 31024
CONTACT
• The Harbor at Harmony Crossing is now open. Combining advanced technology with compassionate care, The Harbor at Harmony
Crossing provides residents with top-tier care while supporting their dignity and independence, all in a luxurious, resort-quality
environment.
• In 2013, Greene County’s tourism industry: supported 520 jobs, generated $46.48 M in direct tourist spending, created $1.91 M in
state tax revenues, and generated $1.4 M in local tax revenues.
• Since the 2000’s, Putnam county has seen a housing boom due to its close proximity to major highways, Lake Oconee, as well as
major employment hubs such as Atlanta, Athens, and Macon.
• A growing number of national and international corporations are choosing Madison for their corporate headquarters. The
outstanding workforce and the close proximity to major distribution networks have made Morgan County the choice location for
high-tech manufacturing, located in a region described as being as beautiful as walking through a Norman Rockwell painting.
INTERESTING FACT:INTERESTING FACT: The Bruce Weiner Microcar Museum is the largest collection of Microcars in the world, the collection can be
viewed in Madison, Georgia.
Population of MSA
55,258
Households in MSA
23,615
$38,954
Unemployment of MSA
8.30%
(706) 485-0124
www.cbclakecountry.com
Vacancy
Absorption
Rental Rates
gg zzyzzy N/AN/A N/AN/A
cc  N/AN/A N/AN/A
cc  N/AN/A N/AN/A

30
GA - Hinesville/Fort Stewart MSAGA - Hinesville/Fort Stewart MSA
MARKET HIGHLIGHTS
Holtzman Realtors
730 General Stewart Way
Hinesville, GA 31313
CONTACT
• Hinesville welcomed a new 20,000 SF Veterans Administration clinic, which opened in June 2014.
• Fort Stewart continues to grow with an additional 450 troops being added in July of 2015.
• Hinestville MSA was recently featured in the top 2% of MSAs nationwide for its workforce (attributed in Area Development
Magazine’s 100 leading locations of 2014).
• Armstrong Atlantic State University is currently under construction for the new 21,000 SF Liberty Center, slated to open January
2016.
• Commercial construction in the Hinesville MSA includes a Walmart Neighborhood Market, a 42 unit Senior Housing tax credit
project, a new public library, and a new Navy Federal Credit Union location.
INTERESTING FACT:INTERESTING FACT: Two signers of the Declaration of Independence hail from Liberty County. They are Button Gwinnett and Lyman
Hall.
Population of MSA
80,915
Households in MSA
33,119
$42,429
Unemployment of MSA
7.60%
(912) 408-4040
Vacancy
Absorption
Rental Rates
 zzyzzygg gg 
 cc cc 
 cc  
GA - Macon MSAGA - Macon MSA
MARKET HIGHLIGHTS
Eberhardt and Barry
990 Riverside Drive
Macon, GA 31201
CONTACT
• Tractor Supply Co. has recently opened its new 750,000 SF distribution facility along I-75 in the new Southside Industrial Park,
employing over 250 full time persons.
• The Savannah Port received Federal EPD permits to dredge the Savannah Port to allow super container vessels in 2017. In
anticipation, the portage distribution companies are scrambling to locate large scale Industrial distribution facilities across the
central and southeastern parts of Georgia (including Macon). Savannah Port and Macon are the terminus points of I-16.
• Khumo Tire Company has their 2,000,000 SF automotive tire manufacturing facility under construction, and it is slated to open in
2017. The Khoumo Tire facility is located on rail in the new Norfolk Southern Industrial Park along HWY- 247.
• There was an increased number of existing single family home sales this past year, trending up in 2015. Average home prices are
on the rise, and new single family home starts are flat. Multi-family development is evident in every income sector in the area.
• Increased job and population growth have spurred large scale Retail development on the North side of Macon. The recently
completed Shoppes at River Crossing (580,000 SF) is a posh new lifestyle center experiencing rapid growth and many new
nationally recognized Retail stores
INTERESTING FACT:INTERESTING FACT: Macon Georgia is known for its two-week Cherry Blossom Festival in the spring of each year, as several
thousand Yoshino Cherry trees bloom. Several million visitors have attended this event in the past few years.
Population of MSA
377,816
Households in MSA
144,519
$53,898
Unemployment of MSA
8.10%
(478) 746-8171
www.coldwellbankercommercialeb.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
 cc cc cc

31
GA - SavannahGA - Savannah
MARKET HIGHLIGHTS
Platinum Partners
6349 Abercorn Streetreet
Savannah, GA 31405
CONTACT
• The Savannah Harbor Expansion Project received all necessary state and federal funds. The 15 year old, $706M project, will
deepen the Savannah Harbor to 47 feet. The Army Corps of Engineers estimated it will net $174M yearly to the US economy. The
project is set to be completed in 2020. The Port of Savannah is the largest single container terminal in North America and moved
3.34 million TEUs in 2014.
• Ben Carter Enterprises bought dozens of Broughton Street Retail buildings and announced a $75 M revitalization plan and
streetscape improvements. Tenants will include: L’Occitane, H&M, lululemon Athletica, J. Crew, Palm Avenue and local tenants.
The Grand Opening of Tanger Savannah will be in April 2015. Tenants include: Michael Kors, J. Crew, White House Black Market,
Brooks Brothers, Coach, Nike and Abercrombie.
• 58-acre environmentally distressed Savannah River port site was acquired and redeveloped by Commercial Development
Company Inc. CDC Inc. and its affiliates will work with Georgia EPD to address the environmental hazards. The site is adjacent to
the Georgia Port Authority’s Garden City Terminal, the country’s fastest growing container port.
• A Coldwell Banker Commercial Platinum Partners agent assembled 6 acres of 33 residential lots to market to retail developers.
A developer contracted to purchase the site and then retained the brokerage to work with the Savannah Metropolitan Planning
Committee and assemble two additional residential sites totaling 12 acres.
• Over 13M Savannah tourists pumped $2.3B into the local economy, and guests stayed an average of 2.4 days. With a high barrier
to entry, developers sought infill locations such as a Bridgestone Firestone service center and a decommissioned fire station.
Population of MSA
361,495
Households in MSA
153,131
$48,852
Unemployment of MSA
6.20%
(912) 790-6999
www.cbcplatinum.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
 cc  cc
 cc cc cc
HI - HonoluluHI - Honolulu
MARKET HIGHLIGHTS
Pacific Properties- NRT
737 Bishop Street, Suite 2000
Honolulu, HI 96813
CONTACT
• Hawaii’s economy remains healthy with unemployment 200 basis points below the national average at 3.8%.
• General Growth Properties adds a condominium component to its $575 M dollar GLA expansion.
• Numerous development projects and Hotel development and renovation projects place upward pressure on construction costs.
• Hawaii’s market is anticipated to remain strong in 2015, driven by increased tourism and employment gains in key industries.
• Debartolo Development of new $350 M regional shopping center Ka Makana Alii announces the following signed tenants: Macy’s,
GAP, Forever 21, H&M, Old Navy and Bannana Republic, with projected openings in 2016.
INTERESTING FACT:INTERESTING FACT: Waikiki in Honolulu attracts 72,000 visitors on any given day. That’s as much as 44 percent of all tourists present
in the entire state of Hawaii.
Population of MSA
910,677
Households in MSA
311,782
$67,192
Unemployment of MSA
3.80%
(808) 526-0896
www.cbcpacific.com
Vacancy
Absorption
Rental Rates
cc zzyzzygg  
gg cc  
gg cc  cc

32
ID - PocatelloID - Pocatello
MARKET HIGHLIGHTS
Advisors
2043 E. Center Street
Pocatello, ID 83201
CONTACT
• CAL Ranch relocated to 60,240 SF in the Pine Mall.
• Commercial vacancy rates are declining; Retail and Restaurant occupancy is up.
• The area has experienced Retail and Industrial growth.
INTERESTING FACT:INTERESTING FACT: Financial Times’ Magazine found Pocatello/Chubbuck to be one of the top ten Micro Cities of the Future and
ranked it 2nd in Best Economic Potential.
Population of MSA
83,487
Households in MSA
33,180
$42,610
Unemployment of MSA
3.90%
(208) 269-7328
www.cbcadvisors.com
Vacancy
Absorption
Rental Rates
 zzyzzy N/AN/A gg
N/AN/A cc N/AN/A cc
gg gg N/AN/A 
IL - Bloomington/NormalIL - Bloomington/Normal
MARKET HIGHLIGHTS
Heart of America Realtors
802 S. Eldorado Road
Bloomington, IL 61704
CONTACT
• The region’s overall economy is healthy, and unemployment rates have continued to fall.
• Local housing market is steady, but is off slightly from last year.
• Retail has been stable through Q3 and Q4. Rates are level, with 10% vacancy.
• Slowed Office activity, stable rents, 15% vacancy.
• Industrial growth is very slow with few transactions and 20% vacancy.
INTERESTING FACT:INTERESTING FACT: There are a few quality investment opportunities. Apartment vacancies are up.
Population of MSA
189,028
Households in MSA
77,822
$61,108
Unemployment of MSA
5.30%
(309) 662-3377
www.cbhoacommercial.com
Vacancy
Absorption
Rental Rates
 zzyzzygg cc 
 cc gg 
   

33
IL - ChampaignIL - Champaign
MARKET HIGHLIGHTS
Devonshire Realty
201 W. Springfield Ave, 11th Floor
Champaign, IL 61820
CONTACT
• Commercial building permits for Champaign-Urbana totaled nearly $250 M in 2014 (up from $170 M in 2013). Numerous large
projects are currently under construction, including H.E.R.E. Champaign Apartments ($46.9 M), Campus Circle Apartments ($36
M), Marriott Hotel and Campus Center ($29 M), Providence Circle ($25.5 M), and the West Quad ($15.8 M).
• The Research Park at the University of Illinois at Urbana-Champaign saw Abbvie opening an Innovation Center; Caterpillar
celebrated 15 years at the Research Park and announced a planned expansion; and Yahoo! expanded into a new 40,000 SF
building. The park currently houses over 90 companies in 663,000 SF.
• Kraft Foods completed a 730,000 SF distribution warehouse adjacent to their 1.2 million SF plant in West Champaign, making it
the largest Kraft facility worldwide by SF and volume produced. BRG Sports (formerly Easton-Bell) fully integrated into their new
815,000 SF facility along I- 57 in Rantoul.
• The residential market is on the rise with a 6.43% increase in volume from 2013 to 2014.
• The Retail market continued to remain red hot, with a high-level of activity occuring around the North Prospect Retail corridor,
and along South Neil Street, led by the 17-acre Carriage Center redevelopment. General Growth Properties has begun the
demolition of the former Sears (160,000 SF) at Market Place Mall, but has yet to announce any fill-in plans.
INTERESTING FACT:INTERESTING FACT: Champaign-Urbana is home to the state’s flagship campus, the University of Illinois, which employs over 10,000
faculty and staff, and enrolls 44,250 students across 17 colleges and instructional units.
Population of MSA
234,055
Households in MSA
101,725
$46,629
Unemployment of MSA
5.50%
(217) 352-7712
www.cbcdr.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg cc
cc cc cc gg
 cc cc gg
IL - ChicagolandIL - Chicagoland
MARKET HIGHLIGHTS
NRT - IL
2215 Sanders Road, Suite 350
Northbrook, IL 60062
CONTACT
• The Chicago Industrial market continued to improve in Q4 of 2014 with 5,225,000 SF of net absorption. Some of the large leases
signed were Pactiv Corp. for 898,560 SF, Ferrara Candy for 747,152 SF and Midwest Warehouse and Distribution for 650,494 SF.
• The year end vacancy rate for Industrial properties was 7.9% with 9,800,000 SF of positive net absorption. Office had a year end
vacancy rate of 13.7% and 2,750,000 SF of positive net absorption. The Retail year end vacancy rate was 8.3% and had a positive
net absorption of 6,600,000 SF for the year.
• There was 11,750,000 SF of Industrial space, 6,080,000 SF of Office space and 1,535,000 SF of Retail space under construction at
the end of 2014.
• The Apartment market continues to be strong with low vacancy and a large new supply of Apartments recently built and more
coming online. The single family home market is still active with prices increasing in some submarkets.
• All Commercial property types continue to show improvement. There is more new construction to meet the demand; property
values continue to increase; and cap rates continue to decrease.
INTERESTING FACT:INTERESTING FACT: The Chicago Blackhawks NHL team, which plays at Chicago’s United Center, has won 5 Stanley Cups since their
founding.
Population of MSA
9,514,212
Households in MSA
3,792,770
$60,140
Unemployment of MSA
5.60%
(847) 313-4600
www.cbcnrtchicago.com
Vacancy
Absorption
Rental Rates
gg zzyzzygg gg gg
cc cc cc cc
cc cc cc cc

CBC 2014 Blue Book

Recomendados

Recomendados

Mais conteúdo relacionado

Mais procurados

Mais procurados (20)

Semelhante a CBC 2014 Blue Book

Semelhante a CBC 2014 Blue Book (20)

Mais de Coldwell Banker Commercial

Mais de Coldwell Banker Commercial (20)

Último

Último (20)

CBC 2014 Blue Book