1 / 24

Hartford

Hartford. Hartford Office and Industrial Markets Connecticut Commercial Real Estate Conference March 6, 2012. National Industrial Trends. National Industrial Vacancy. National Industrial Rents. Hartford Industrial Market. 89,000,000 – 97,000,000 SF Market

roza
Download Presentation

Hartford

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. Hartford Hartford Office and Industrial Markets Connecticut Commercial Real Estate Conference March 6, 2012 BARTRAM & COCHRAN

  2. National Industrial Trends BARTRAM & COCHRAN

  3. National Industrial Vacancy BARTRAM & COCHRAN

  4. National Industrial Rents BARTRAM & COCHRAN

  5. Hartford Industrial Market • 89,000,000 – 97,000,000 SF Market • Major firms are relying on CoStar for data • Functionally obsolete buildings distort the statistics • Industrial vacancy of 9.5 to 13.3% • Market has swung from negative absorption to positive • 400,000 SF of construction projected from 2012-15 • Market cycle – last phase of recession. Good buildings in recovery. Six- seven years for the market to balance • 8.5 to 9% going in cap rate for industrial/ manufacturing BARTRAM & COCHRAN

  6. Industrial Inventory BARTRAM & COCHRAN

  7. Industrial – Major Leases BARTRAM & COCHRAN

  8. Industrial – Major Renewals BARTRAM & COCHRAN

  9. Top Industrial Sales BARTRAM & COCHRAN

  10. National Office Trends BARTRAM & COCHRAN

  11. National Office CBD Vacancy BARTRAM & COCHRAN

  12. National Office Class A Asking Rates BARTRAM & COCHRAN

  13. Hartford Office Market • 25,000,000 SF multi-tenant building market • Slowly improving activity – going from an average loss of 1,900,000 SF a year for three years to projected (depending on those interviewed) sharply slower losses to positive absorption • No major new-to-market leases • Market cycle: last phase of the recession, poised for recovery • Stabilized market 7-8 years for CBD, 5 years for suburbs • Going in cap rate 9.5% (CBD), 8.75% (suburban) BARTRAM & COCHRAN

  14. Hartford Office 4Q11 BARTRAM & COCHRAN

  15. Impact of Owner-Occupied BARTRAM & COCHRAN

  16. 2011 Major Office Leases BARTRAM & COCHRAN

  17. 2011 Major Office Renewals / Expansions BARTRAM & COCHRAN

  18. Office Sales BARTRAM & COCHRAN

  19. Academic BARTRAM & COCHRAN

  20. Institutional • CREC buying land/ building/ leasing/ renovating seven magnet schools, including Avon, Hartford, Enfield and New Britain • Hartford Hospital building parking garage • UCONN Medical $1 billion expansion • Jackson Lab $1.1 billion development • State considering buying office buildings BARTRAM & COCHRAN

  21. Jackson Lab BARTRAM & COCHRAN

  22. Bio-Science State to create new bio-science enterprise zones in: • Hartford • Farmington • New Britain • Plainville • Bristol BARTRAM & COCHRAN

  23. Sources • CBRE • Colliers • CoStar Group • Cushman & Wakefield • Grubb & Ellis • Integra • Jones Lang LaSalle • RM Bradley • Sentry Commercial • S/L/A/M Collaborative BARTRAM & COCHRAN

  24. Thank You Maura M. Cochran, CRE, SIOR BARTRAM & COCHRAN 64 Pratt Street Hartford, CT 06103 860 549-5000 x 1 mcochran@bartramandcochran.com BARTRAM & COCHRAN

More Related