1 / 8

Triad Office Market

Triad Office Market. Total Office Market: 27, 467,542 Total Sq. Ft. Vacant: 5,264,359 Vacancy Rate 19.2% Forsyth: 18.8%/Guilford 21% Average Rental Rate: $15.80 Average Class A Rental Rate: $17.65 Net Absorption YTD: -229,284 36,000 sq. ft. under construction. Industrial Market.

melissa-rosales
Download Presentation

Triad Office Market

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Triad Office Market • Total Office Market: 27, 467,542 • Total Sq. Ft. Vacant: 5,264,359 • Vacancy Rate 19.2% • Forsyth: 18.8%/Guilford 21% • Average Rental Rate: $15.80 • Average Class A Rental Rate: $17.65 • Net Absorption YTD: -229,284 • 36,000 sq. ft. under construction

  2. Industrial Market • Warehouse Market: 54,404,184 • Total Sq. Ft. Vacant: 12,312,107 • Vacancy Rate: 22.6% • Average Asking Rent: $3.49 • Sq. ft. Under Construction: 301,910 • Net Absorption YTD: -121,347 • Over 8,000,000 sq. ft. vacant in buildings over 100,000 sq. ft.

  3. Industrial Market • Flex Market: 13,019,283 • Total Vacant Sq. Ft.: 2,300,783 • Vacancy Rate: 17.7% • Average Asking Rent: $5.60 • Under Construction: 16,200 • Net Absorption YTD: -107,201

  4. Retail • Total Retail Market: 36,617,044 • Total Sq. Ft. Vacant: 10.8% • Average Asking Rent: $16.12 • Sq. Ft. Under Construction: 379,000 • Net Absorption: -159,138 • Largest new retail is the 312,000 sq. ft. Tanger Factory Outlet in Mebane

  5. Multifamily • Total # of Units: 55,576 • # Vacant: 7,745 • Vacancy Rate: 13.9%-increased from 11.6% in September 2008 • 2007-2009- 4300 new units with 791 absorbed, resulting in a 6% increase in vacancy • Construction has slowed, with only 665 units under construction.

  6. Investment Sales • What is a market CAP rate? • Equity requirements are increasing • Walgreen’s no cash developer now needs $1,300,000 • CAP rates are rising for most product types • Exceptions are in areas with barriers to entry • Value oriented purchasers are looking at long term potential • Lots of money on the sidelines waiting on the bottom

  7. Land • Is there a market for Land? • Public Facilities-schools, fire stations, parks • Borrowing money on Dirt • Cash or owner paper • Residential Land Demand • Lot sales at low numbers in select markets • No townhome construction • Equity requirements have slowed demand for apartment land

  8. Land • Office Site Demand • Owner/Users in the market-particularly medical • Commercial Site Demand • Fast Food • Convenience Stores • Self Storage • Drug store demand in targeted areas at reduced price • Demand from Anchor retailers will not return until at least 2012

More Related