2012 Year-End Bluebook

Blue Book2012

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cbcworldwide.com

Year End Market ReviewSupplement to Real Estate Forum

AL - Birmingham 4AL - Dothan/Houston County 4AL - Montgomery 5AK - Anchorage 5AZ - Sedona/Verde Valley 6AR - Little Rock 6CA - Bakersfield 7CA - Chico 7CA - Inland Empire 8CA - Inland Empire North/Victor Valley 8CA - Long Beach/South Bay 9CA - Los Angeles/Los Angeles, West 9CA - Los Angeles, Westside 10CA - Merced MSA 10CA - Modesto 11CA - Napa Valley/Napa County 11CA - Newport Beach 12CA - Oakland/East Bay 12CA - Orange County 13CA - Riverside/South West 13CA - San Gabriel/San Fernando Valleys 14CA - San Mateo County/Peninsula 14CO - Western 15CT - Fairfield County 15DE - Sussex County 16FL - Boca Raton/Palm Beach County 16FL - Daytona Beach/Ormond Beach 17FL - Deltona 17FL - Florida Keys/Key West 18FL - Fort Lauderdale/Broward County 18FL - Gainesville 19FL - Jacksonville 19FL - Lakeland/Winter Haven 20FL - Melbourne/Brevard County 20FL - Melbourne/Palm Bay/Titusville 21FL - Miami/Dade 21FL - Naples/Ft. Myers 22FL - Orlando 22FL - Palm Beach 23FL - Punta Gorda 23FL - Sarasota/Manatee Counties 24FL - St. Lucie County 24FL - St. Lucie/Martin Counties 25FL - Tallahassee 25FL - Tampa, Greater Area 26FL - Tampa/St. Petersburg 26FL - Winter Haven 27GA - Athens 27GA - Atlanta 28GA - Dalton/Whitfield County 28GA - Hinesville/Fort Stewart 29GA - Macon/Bibb County 29GA - Savannah 30HI - Honolulu 30ID - Boise 31ID - Eastern 31IL - Bloomington/Normal/McLean 32IL - Central 32IL - Champaign/Urbana 33IL - Chicago, Southwest 33IL - Chicagoland 34IL - Springfield 34IL - Tazewell County 35IN - Fort Wayne 35IN - Indianapolis MSA 36IN - Muncie 36KS - Garden City 37KS-MO - Kansas City Metro 37KY - Lexington 38KY - Louisville Metro 38KY - Southern 39LA - Acadiana 39LA - New Orleans 40ME - Midcoast 40MD - Eastern Shore 41MI - East Lansing MSA 41MI - Western 42MN - Central 42MN - Mankato 43MN - Minneapolis/St. Paul Metro 43

MS - Gulfport/Biloxi 44MO - Springfield 44MO-KS - St. Joseph 45MT - Billings 45NE - Lincoln 46NV - Reno/Sparks MSA 46NJ - Central & Northern 47NJ - Northern 47NJ - Ocean County 48NM - Albuquerque 48NY - Albany 49NY - Long Island 49NY - New York City 50NY - Rochester 50NC - Charlotte 51NC - Henderson 51ND - Fargo/Moorhead 52OH - Cincinnati 52OH - Dayton 53OK - Oklahoma City Metro 53OR - Portland 54OR - Salem 54OR - Southern 55PA - Pittsburgh 55PA - Southeastern 56SC - Charleston 56SC - Columbia 57SC - Greenville 57SC - Spartanburg 58TN - Chattanooga Metro 58TN - East 59TN - Nashville 59TX - Amarillo 60TX - Austin 60TX - Bryan/College Station 61TX - El Paso 61TX - Houston 62TX - Lubbock 62TX - Rio Grande Valley 63TX - South/Central 63TX - Southeast 64TX - Victoria 64TX - Waco/McLennan County 65UT - Salt Lake Market 65VA - Fredericksburg Region 66VA - Lynchburg 66VA - Williamsburg/Hampton Roads 67WA - King County 67WA - Southwest 68WA - Tacoma 68WI - Janesville/Beloit 69WI - Madison, Greater 69WY - Cheyenne Metro 70

INTERNATIONAL MARKETSBermuda 71Brazil - São Paulo City 71Canada - Aurora, Ontario 72Canada - Barrie, Ontario 72Canada - Calgary, Alberta 73Canada - Courtenay/Vancouver Island, BC 73Canada - Innisfil, Ontario 74Canada - Nanaimo/Vancouver Island, BC 74Canada - Newmarket, Ontario 75Canada - Orillia, Ontario 75Canada - Ottawa, Ontario 76Canada - Richmond Hill, Ontario 76Canada - Trail, British Columbia 77Canada - Vaughan, Ontario 77Canada - Waterloo Region, Ontario 78Greece 78India - Mumbai 79Ireland - Dublin 79Italy 80Mexico - Mexico City 80Panama 81Puerto Rico 81Spain - Barcelona/Cataluña Region 82Spain 82United Arab Emirates - Dubai 83

CONTENTS

OFFICE

Vacancy Absorption Rental Rates

p 18 Markets 79 Markets 44 Markets

q 76 Markets 20 Markets 31 Markets

n 38 Markets 31 Markets 56 Markets

INDUSTRIAL

RETAIL

MULTI-FAMILY

*Based off 133 US Markets (Information was N/A in certain sectors)

US TRENDS*

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, over 130 US markets were analyzed and here are the national trends.

Vacancy 17.1%

Absorption 17,383,300

Rental Rates $28.47

INDUSTRIAL MULTI-FAMILY

OFFICE

Vacancy 10.0%


Rental Rates $4.61

RETAIL

Source: Reis

Vacancy 10.7%


Rental Rates $19.08

Vacancy 4.5%

Absorption 140,124

Rental Rates $1,097













4

•The Birmingham metro has two notable Mixed-Use developments on the market now. The first, Lane Parke, is a Mixed-Use redevelopment planned for the current site of Mountain Brook Shopping Center and Park Lane Apartments. The development will include Retail, Office, and Residential.

•The Industrial market hit a trifecta of renewals in Q4: Sumitomo Electric Wiring Systems Inc. renewed their lease on 140,400 SF at Moody Commerce Park. Decoma Modular Systems renewed their lease on 120,120 SF at Jefferson Metropolitan Industrial Park.

•Birmingham’s Industrial market’s largest newsmaker is the amount of building sales occurring in Q4. An estimated 850,000 total SF of Industrial buildings sold in Q4 of 2012. The top sale was Kamtek’s purchase of a 292,506 SF building in the Eastern submarket of Birmingham.

•Top lease transactions in the Retail market were Restaurant Depot leased 50,291 SF in Wildwood North; Nordstrom Rack (Alabama’s first) leased 35,000 SF in River Ridge; and to the delight of all families in the 280/459 trade area, Chuck E. Cheese leased 12,889 SF in Riverhills Shopping Center.

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Coldwell Banker CommercialMoore Company Realty2 Office Park Circle Suite 110Birmingham, AL 35223(205) 876-2717www.moorecompanyrealty.com

CBSA Birmingham-Hoover, AL

Square Miles 5,298

Population 1,135,190

Households 451,751

Household Income Median $55,642

Employees (Total) 485,749

Unemployment 5.80%

RETAIL


DEMOGRAPHICS MARKET HIGHLIGHTS

CONTACT

AL - Birmingham

OFFICE

•The Alabama College of Osteopathic Medicine is one of the 34 osteopathic colleges in the nation and the first in Alabama. The Medical College is continuing to build with 150 students to begin enrollment in August 2013.

•Houston County unemployment rate has dropped from 8.3 percent to 6.7 percent.

•Completed commercial construction in the area, such as Cheddar’s Casual Café, Buffalo Wild Wings and Academy Sports, will bring more job opportunities.

•With the healthcare industry continuing to grow, Flowers Hospital celebrated the opening of their new Wound Care Center, and Southeast Medical Center completed their Heart and Vascular Center expansion which was an investment of $31 million.

•Southeast AL & Northwest FL announced a mega site location.

•Regional airport offers hangars for wide body aircraft.

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Coldwell Banker CommercialAlfred Saliba Realty410 N. Shady LaneDothan, AL 36303(334) 793-6600www.alfredsalibacommercial.com

CBSA Dothan, AL

Square Miles 1,718

Population 143,295

Households 57,785



Unemployment 6.40%

RETAIL



CONTACT

AL - Dothan/Houston County

OFFICE

www.moorecompanyrealty.com

www.alfredsalibacommercial.com

5

•Alabama heats up as the place to do business: Expansion of Mercedes in Vance; Expansion of Hyundai in Montgomery; Expansion of Honda in Lincoln; Airbus to open its North American plant in Mobile.

•Office vacancy is stabilizing. Targeted Retail is succeeding in their desired demographics. Call volume has increased for all product types.

•Restaurant and pub nears completion in downtown historic district.

•Budget homebuilders in the finished price range of $80/SF find traction.

•With the expansion of Hyundai and its ancillary jobs created, there is optimism in the market.

•Montgomery can become the natural cargo break point for intermodal product arriving in the Port of Mobile.

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Coldwell Banker CommercialMoore Company Realty121 Coosa St., Suite 250Montgomery, AL 36104(334) 262-1958www.moorecompanyrealty.com

CBSA Montgomery, AL

Square Miles 2,725

Population 367,157

Households 147,017



Unemployment 6.60%

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CONTACT

AL - Montgomery

OFFICE

•Bass Pro Shops announced it will open a 100,000 SF store in Anchorage in the Spring of 2013.

•Retail continues to be strong in Anchorage with vacancies dropping from 5 to 4.71 percent.

•Vacancy and rental rates are forecasted to remain stable in 2013.

•The Class A Office vacancy is stable at 5.2 percent.

•Companies like Auto Zone and Oil and Vinegar entered the market in late 2012.

•Verizon, Texas Roadhouse and Massage Envy Spa will open in the market in 2013.

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Coldwell Banker CommercialNRT - Anchorage2600 Cordova Street, Ste 205Anchorage, AK 99503(907) 222-1033www.coldwellutah.com

CBSA Anchorage, AK

Square Miles 26,379

Population 378,904

Households 137,722



Unemployment 5.80%

RETAIL



CONTACT

AK - Anchorage

OFFICE

www.moorecompanyrealty.com

www.coldwellutah.com

6

•Commercial vacancies are stable and trending downward.

•State has finished upgrading lighting in Sedona’s business district.

•Commercial property sales have increased 60 percent in number of transactions.

•Commercial property sales volume has increased by 236 percent.

•The 8th annual Sedona Marathon drew the largest number of participants ever.

•Lonely Planet named Sedona and Verde Valley among the Top 10 U.S. Travel Destinations for 2013.

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Coldwell Banker CommercialFirst Affiliate195 West SR 89ASedona, AZ 86336(928) 340-5000www.cbsedonacommercial.com

CBSA Flagstaff, AZ

Square Miles 18,617

Population 130,596

Households 46,597



Unemployment 8.40%

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CONTACT

AZ - Sedona/Verde Valley

OFFICE

•Inuvo announces HQ relocation from NY City to Conway in Central Arkansas.

•City of Little Rock seeks location for new Little Rock Technology Park.

•Walgreen’s purchase of USA Drug is creating surplus Retail space scattered throughout state.

•Hotel construction continues to be strong in downtown’s River Market District.

•Bass Pro Shops was quickly under construction after announcing a 30-acre acquisition at the I-430/I-30 interchange.

•New mid-rise Apartment construction flourishes in Park Avenue Mixed-Use development in Midtown.

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Coldwell Banker CommercialHathaway Group2100 Riverdale Rd. Suite 100 P.O Box 3730LIttle Rock, AR 72202(501) 663-5400www.hathawaygroup.com

CBSA

Little Rock-North Little Rock-Conway, AR

Square Miles 4,090

Population 690,456

Households 276,042



Unemployment 6.30%

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CONTACT

AR - Little Rock

OFFICE

www.cbsedonacommercial.com

www.hathawaygroup.com

7

•There has been a boom within the oil field industry.

•The unemployment rate is down and home sales are the rise.

•Builders are looking to boom out and are seeking Land to develop.

•There is a shortage in housing in Kern County CA, but new construction is on the rise.

•The economy recovery is led by the housing market.

•There is affordable living in the area as well as a rise in employment.

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Coldwell Banker CommercialPreferred, Realtors1820 Westwind Dr.Bakersfield, CA 93301(661) 327-2121www.cbcworldwide.com

CBSA Bakersfield,CA

Square Miles 8,141

Population 813,502

Households 267,652



Unemployment 13.50%

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CONTACT

CA - Bakersfield

OFFICE

•New 60,000 SF North Butte County Courthouse Complex scheduled for construction in Chico.

•New 37,000 SF Butte County Hall of Records scheduled for construction in Oroville.

•A 65,000 SF Weiss McNair farm equipment manufacturing facility is under construction in Chico.

•Willows I-5 Commercial and Industrial Center entitled and ready to serve Pacific West Coast market along the Interstate 5 transportation corridor.

•The enrollment and number of CA State University, Chico students is expanding.

•There are new major retailers in the area including: Dick’s Sporting Goods, Marshalls, Petco, Guitar Center, Dollar General, Auto Zone, Krispy Kreme and Walmart Superstore.

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Coldwell Banker CommercialDuFour Realty1350 E. Lassen Ave. Suite 1Chico, CA 95973(530) 895-1545www.cbcworldwide.com

CBSA Chico, CA

Square Miles 1,639

Population 221,277

Households 88,796



Unemployment 11.60%

RETAIL



CONTACT

CA - Chico

OFFICE

www.cbcworldwide.com


8

•Yucaipa commercial real estate listings are rising.

•The Pass Area is primed for the next commercial boom.

•Many Beaumont and Banning commercial real estate locations are HUBZone certified.

•Residential real estate in the Pass Area (Yucaipa, Calimesa, Beaumont, Banning) is expanding.

•Many citizens from the Inland Empire are migrating to the Pass Area.

•The Pass Area includes two major counties; San Bernardino and Riverside County.

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Coldwell Banker CommercialKivett Teeter32829 Yucaipa Blvd.Yucaipa, CA 92399(909) 797-9134www.cacommercialrealestate.com

CBSARiverside-San Bernardino-Ontario, CA

Square Miles 27,260


Households 1,350,253


Employees (Total) 1,156,307

Unemployment 10.90%

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CONTACT

CA - Inland Empire

OFFICE

•Multi-Family units are in high demand along with the upward pressure on pricing.

•JCPenny is expanding their location by 37,000 SF in 2013, and Macy’s is scheduled to open Q1 of 2013.

•Newell Rubbermaid added nearly 180,000 SF at their SCLA location.

•Walmart represented 261,000 SF of net absorption in 2012.

•Panera Bread, Pancho Villa’s, Freddy’s Steak Burger were among many of the new restaurants.

•Land sales volume is up 8.5 percent in 2012 over 2011. Housing market experienced an increase of 14.4 percent in home values during 2012.

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Coldwell Banker CommercialReal Estate Solutions15500 W Sand St. 2nd FloorVictorville, CA 92392(760) 684-8000www.cbcdesert.com


Square Miles 27,260





Unemployment 10.90%

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CONTACT

CA - Inland Empire North/Victor Valley

OFFICE

www.cacommercialrealestate.com

www.cbcdesert.com

9

•Industrial near the ports remains strong.

•Market forecasts are cautiously optimistic.

•New zoning regulations will allow for new developments.

•Most market changes are minor but momentum is picking up.

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Coldwell Banker CommercialBlair Westmac333 W. Broadway Suite 312Long Beach, CA 90802(562) 495-6070www.cbcblair.com

CBSA Long Beach, CA

Square Miles 4,850





Unemployment 10.20%

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CONTACT

CA - Long Beach/South Bay

OFFICE

•Very little available investment opportunities.

•This area is experiencing shrinking Office/Retail vacancies.

•Office/Retail rents are rising.

•Technology and Internet businesses are absorbing space.

•There is plenty of Apartment and Mixed Use development activity.

•Owner/user market is very hot due to availability of SBA loans.

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Coldwell Banker CommercialWESTMAC1515 S. Sepulveda Blvd.Los Angeles, CA 90025(310) 478-7700www.westmac.com

CBSALos Angeles-Long Beach-Santa Ana, CA

Square Miles 4,850





Unemployment 10.20%

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CONTACT

CA - Los Angeles/Los Angeles, West

OFFICE

www.cbcblair.com

www.westmac.com

10

•Multi-Family demand is driving most of the market activity but Single-Tenant NNN investments, Medical Office and Industrial are also strong sectors (Strength in the Industrial sector is due to scarcity of product and ability to convert to Creative Office uses).

•Demand greatly exceeds supply for the strongest sectors.

•Multi-Family cap rates are 4 percent-5.5 percent in A/B areas and 5.5 percent-8 percent in C/D areas. Lenders have developed new programs to compete with Fannie & Freddie and to capture a share of the Multi-Family lending.

•Development Land for Condos, Apartments and Mixed-Use is once again in demand but prices are still below pre-recession levels.

•Strongest sub-markets are: the Santa Monica and Venice creative corridors, Beverly Hills, Brentwood, West Hollywood and Hollywood.

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Coldwell Banker CommercialNRT - Los Angeles11999 San Vicente Blvd.Los Angeles, CA 90049(310) 820-6651www.cbcworldwide.com


Square Miles 4,850





Unemployment 10.20%

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CONTACT

CA - Los Angeles, Westside

OFFICE

•Merced is the county seat of Merced County, California.

•Merced is home to University of California, Merced.

•Merced’s population has grown faster than the state average since 1980. Over the past nine years, the annualized growth rate is about 3.4%. This rapid expansion of population has stimulated significant Retail growth since 1992. Several major Retail chain stores have entered Merced, adding over 750,000 SF of new Retail space.

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Coldwell Banker CommercialGonella Realty3170 Collins Dr. Suite AMerced, CA 95348(209) 725-7253www.mercedcommercialrealestate.com

CBSA Merced, CA

Square Miles 1,929

Population 246,043

Households 72,827



Unemployment 17.20%

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CONTACT

CA - Merced MSA

OFFICE


www.mercedcommercialrealestate.com

11

•Stanislaus County is located in the Central Valley. Many people in the surrounding areas shop in its county seat of Modesto.

•The major industry is AG-related, employing approximately 18,000 people or 11.3 percent of the total 160,000 people that are employed. The unemployment rate varies due to seasonal positions in the AG industry.

•Well located shopping areas have been attracting new tenants with some major remodeling. Vacant spaces, due to the lack of new construction, have been absorbed as needed. Kaiser Permanente built a major hospital complex with Memorial Hospital building, a major expansion.

•There have been major layoffs in the government sector based on tax assessments being lowered due to the downturn in real estate values. Leveling out has occurred, and all are hoping real estate prices will start to rise in 2012. This will only come if unemployment in the area starts to decline.

•The Office and Retail markets are improving in good centers and locations.

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Coldwell Banker CommercialVinson Chase, Realtor220- C Standiford Ave.Modesto, CA 95350(209) 577-2121www.cbcworldwide.com

CBSA Modesto, CA

Square Miles 1,494

Population 512,221

Households 167,008



Unemployment 15.00%

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CONTACT

CA - Modesto

OFFICE

•The Shops at Napa Center, an open air downtown Retail hub, is re-tenanting and positioning itself to add a 180 room hotel.

•Over 700,000 SF of temperature-controlled high cube Warehouse space was leased in Q4. Future demand may require build-to-suit.

•There was high demand from investors seeking Multi-Family properties of 5 or more units.

•The Up Valley market, including Yountville, St. Helena and Calistoga, experienced a substantially tight supply of commercial properties available for sale and for lease.

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Coldwell Banker CommercialBrokers of the Valley1775 Lincoln Ave.Napa, CA 94558(707) 224-8454www.napacommercialproperties.com

CBSA Napa, CA

Square Miles 754

Population 135,273

Households 52,057



Unemployment 7.90%

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CONTACT

CA - Napa Valley/Napa County

OFFICE


www.napacommercialproperties.com

12

•Vacancy rates within Office properties continues to remain high.

•The Retail vacancy rate is moving down slowly.

•Commercial property sales are increasing.

•The Residential market is low on inventory.

•The overpriced properties are not moving.

•Waterfront properties have held their value in the area.

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Coldwell Banker CommercialNRT - Balboa Island201 Marine Ave.Balboa Island, CA 92662(949) 673-8700www.cbcworldwide.com


Square Miles 4,850





Unemployment 10.20%

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CONTACT

CA - Newport Beach

OFFICE

•A major transaction was Pacific Gas & Electric in San Ramon with their Office lease expansion of 145,000 SF.

•Steady economic growth is driving the East Bay Market improvements.

•Low vacancy rates and rising rents are spurring Multi-Family construction pipeline growth.

•East Bay is a popular destination for residential buyers priced out of San Francisco market.

•There is an amazing amount of cash entering the market.

•The East Bay’s unique culture is more laid back and uncomplicated than that of its western neighbors.

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Coldwell Banker CommercialNRT - Pleasanton5980 Stoneridge Dr. Suite 122Pleasanton, CA 94588(925) 847-2266www.cbcworldwide.com

CBSASan Francisco-Oakland-Fremont, CA

Square Miles 2,473





Unemployment 7.30%

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CONTACT

CA - Oakland/East Bay

OFFICE



13

•Office vacancies are finally down to 13.1 percent.

•The commercial rent rates have flattened out except for Multi-Family.

•Industrial vacancy is under 4% with the rents slowly rising due to lack of product.

•The minimal Retail development is keeping vacancy at under 6 percent.

•Stabilization can be seen ahead with tenants renewing leases.

•Most major law firms trimmed their space commitments.

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Coldwell Banker CommercialNRT - Newport Beach4 San Joaquin Plz. Suite 260Newport Beach, CA 92660(949) 644-1600www.cbcworldwide.com


Square Miles 4,850





Unemployment 6.80%

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CONTACT

CA - Orange County

OFFICE

•The overall market continues to strengthen and show increased activity in all sectors.

•Industrial vacancy rates are falling, leaving less availablity of inventory.

•The new Temecula Valley Hospital is under construction with completion expected by end of Q1. This will draw medical professionals into the area.

•The unemployment rate has dropped to 11.1 percent, down from 12.4 percent from the previous year.

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Coldwell Banker CommercialSudweeks Group27708 Jefferson Ave. Suite 201Temecula, CA 92590(951) 200-7683www.cbcsocalgroup.com


Square Miles 27,260





Unemployment 10.90%

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CONTACT

CA - Riverside/South West

OFFICE


www.cbcsocalgroup.com

14

•This area has low vacancy.

•There is an Increase in sale prices and lease rates in the area.

•Speculative development is starting.

•Net absorption is still low.

•There is panic buying in multi-family properties.

•The market is experiencing low interest rates and too many buyers.

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Coldwell Banker CommercialNorth County701 N. Brand Blvd., Ste 180Glendale, CA 91203818-334-1900www.cbcnco.com


Square Miles 4,850





Unemployment 10.20%

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CONTACT

CA - San Gabriel/San Fernando Valleys

OFFICE

•Two Industrial construction projects have been approved and are rumored to commence early to mid-2013. The two projects: 213 East Grand and 330 San Bruno Ave. They are both R&D properties in South San Francisco with an estimated total of 550,000 SF.

•The largest investment sale was a purchase of ten buildings on Embarcadero Rd. in Palo Alto by KBS Realty totaling 225,000 SF.

•The Mid Peninsula Coalition completed their new 109 unit complex at 636 El Camino Real in South San Francisco.

•The asking rates in the Industrial market remain relatively flat over the Q4 in 2012.

•San Mateo’s job growth continues as the unemployment rate falls 8.5 percent from the recession in 2010.

•Sales activity gains significant momentum.

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Coldwell Banker CommercialWestbay Real Estate Group1575 Bayshore Hwy. Suite 100Burlingame, CA 94010(650) 344-4300www.cbcburlingame.com

CBSASan Diego-Carlsbad-San Marcos, CA

Square Miles 4,200





Unemployment 8.10%

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CONTACT

CA - San Mateo County/Peninsula

OFFICE

www.cbcnco.com

www.cbcburlingame.com

15

•There are good signs of a market recovery. In the Industrial market, General Electric signed a 10 year lease for a 70,000 SF facility that had been on the market for several years.

•Commercial foreclosure sales were a factor in the market, but values were mostly at market prices.

•Over the past 2 years, Colorado Mesa University continues to grow with the addition of two new campus dormitories and another new dormitory slated for the 2013-2014 school year.

•There was low inventory of residential MLS listings, but there are some new subdivisions under construction.

•There is Retail growth in the area. TJ Maxx and Tractor Supply both opened stores in the fall. Sprouts grocery was constructed and opened in January 2013, and 2 new national truck stops are slated for the I-70 interchange. Both Land sales for the truck stops closed in December and were about 10 acres each, at approximately $6 SF.

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Coldwell Banker CommercialPrime Properties, LLC550 Patterson Rd. Suite BGrand Junction, CO 81506(970) 243-7375www.grandjunctioncommercial.com

CBSA Grand Junction, CO

Square Miles 3,328

Population 148,298

Households 60,317



Unemployment 8.60%

RETAIL



CONTACT

CO - Western

OFFICE

•Fairfield County’s Office market ended the Q4 of 2012 with a vacancy rate of 14.7 percent, up from 14.0 percent with net absorption totaling negative 349,245 SF, compared with 310,857 SF in the Q2. Vacant sublease space increased to 1,073,617 SF up from 850,551 SF at Q2.

•Fairfield County’s available, vacant-sublease space increased across the board from Q2 in 2012. Office went from 851,000 SF to 1,073,617 SF; Industrial from 81,000 SF to 118,148 SF and Retail from 21,000 SF to 30,407 SF.

•Among the significant movements in 2012 were: UBS vacated 257,474 SF of Office space; Cervalis leased 167,691 SF of Office space; NBC Sports Group moved into a 274,956 SF of Industrial space; Cytec Industries Inc. vacated 144,000 SF of Industrial space; and Sears vacated 178,516 SF of Retail space.

•Notable construction projects of 2012 are: 112 Quarry Rd, a 74,726 SF facility that is currently 32% occupied, and a 93,046 SF project is under way at 50 Corporate Dr. an Industrial building already 65% pre-leased.

•The average quoted asking rate is $31.84 SF for Office and Industrial is $7.50 SF.

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Coldwell Banker CommercialNRT - Wilton77 Old Ridgefield Rd.Wilton, CT 06897(203) 831-4187www.cbcworldwide.com

CBSABridgeport-Stamford-Norwalk, CT

Square Miles 626

Population 904,874

Households 336,733



Unemployment 7.20%

RETAIL



CONTACT

CT - Fairfield County

OFFICE

www.grandjunctioncommercial.com


16

•Several new national tenants have opened on Coastal Highway, including: TD Bank, Buffalo Wild Wings, Panera Bread and Chipotle’s. Shore Bank and Keller-Williams have also opened Offices.

•Commercial activity has continued to improve due to the rise in tourism, more summer rental activity and rapidly increasing retirement influx.

•While commercial construction is still slow, the level of residential construction increased dramatically over the past year.

•Closed residential resale volume increased 14.5 percent in 2012 over 2011.

•Traffic volume on Route 1 and Coastal Highway remains at a very high level making it one of the best Retail areas in the mid-Atlantic region.

•Sussex County’s great accessibility to bays and the ocean coupled with low property taxes and no sales tax continues to make it one of the top retiree destinations on the east coast.

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Coldwell Banker CommercialResort Realty20184 Coastal Hwy.Rehoboth Beach, DE 19971(302) 227-5000www.cbankercommercial.com

CBSA Seaford, DE

Square Miles 938

Population 194,215

Households 78,981



Unemployment 7.10%

RETAIL



CONTACT

DE - Sussex County

OFFICE

•The Palm Beach County Office market enjoyed its healthiest performance during the Q4 of 2012. Although gains were modest, demand outpaced supply by the largest margin since the onset of the recession.

•Although much of the activity is still comprised of lateral market moves, existing tenants are expanding and entering into long-term lease agreements instead of downsizing or a short-term commit, as this market has seen over the past 5 years.

•Leasing activity should see modest growth as economic signals point to a recovering residential sector and could translate into increased space needs. In spite of uptick in demand, expect flat rent performance as the vacancy rate remains relatively high. Tenants will retain leverage at negotiation time.

•Palm Beach County gained nearly 6,000 jobs during 2012. With a goal to influence economic growth in the market, the Business Development Board of Palm Beach County is in partnership with the Board of County Commissioners and the Palm Beach County Office of Economic Sustainability for a collaborative effort.

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Coldwell Banker CommercialNRT - Boca Raton1800 NW Corporate Blvd. Suite 100Boca Raton, FL 33431(561) 479-5963www.cbcworldwide.com

CBSA Boca Raton, FL

Square Miles 5,126





Unemployment 8.00%

RETAIL



CONTACT

FL - Boca Raton/Palm Beach County

OFFICE

www.cbankercommercial.com


17

•Daytona Beach was ranked 6th in Trip Advisor’s top 10 listing of Travelers’ Choice Awards for US beach destinations and ranked 17th in the Top 25 Beach Destinations in the World.

•Bed tax collections from the resort area continue to edge up, and boardings at Daytona Beach International Airport continue to climb.

•Planning Board recently voted 11-0 on a proposal to rezone a 4.5 acre ocean site for a 29 story condo with 105 rooms and a 26 story hotel with 500 rooms.

•A two tower, 4-star condo/hotel complex comprised of 1 million SF of space with a 40,000 SF meeting space is awaiting final approval from city commissioners. Construction of the first tower on 10 acres ocean front site should begin late summer.

•Embry-Riddle University, Daytona State University, Bethune Cookman, and University of Central FL continue to grow and receive national and federal grants in their fields of expertise.

•A large modular home community sold for $26.4 million. The demand for assisted living facilities and Multi-Family developments continue to rise.

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Coldwell Banker CommercialBenchmark570 Memorial Circle Suite 300Ormond Beach, FL 32174(386) 672-8530www.benchmarkdaytona.com

CBSA

Deltona- Daytona- Ormond Beach, FL

Square Miles 1,103

Population 495,625

Households 214,567



Unemployment 8.10%

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CONTACT

FL - Daytona Beach/Ormond Beach

OFFICE

•New VA Hospital to open this fall; creating over 1,000 jobs.

•Unemployment is down for a second year in a row.

•Central FL is getting a boost from the opening of its first rail named Sun Rail.

•New housing permits are on the rise.

•Fl state incentives of no state tax and sunny weather are attracting more companies.

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Coldwell Banker CommercialAI Group1019 Town Center Dr. Suite 200Orange City, FL 32763(386) 775-8633www.cbcaigroup.com

CBSA

Deltona- Daytona- Ormond Beach, FL

Square Miles 1,103

Population 495,625

Households 214,567



Unemployment 8.10%

RETAIL



CONTACT

FL - Deltona

OFFICE

www.benchmarkdaytona.com

www.cbcaigroup.com

18

•The sales of distressed properties are brisk, and new distressed listings are declining.

•Hotel development and re-development is being driven by the high average ADR’s and Occupancy which lead the State of FL.

•This market is experiencing renewed interest from national tenants due to prices being down and other existing opportunities.

•The Barriers to entry based on development restrictions continue to be a challenge.

•Please visit our website at www.RealEstateFlordiaKeys.com to view our most recent Newsletter which discusses the market in detail.

•Monroe County continues to enjoy one of the lowest unemployment rates in FL.

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Coldwell Banker CommercialSchmitt Real Estate Company11100 Overseas Hwy.Marathon, FL 33050(305) 289-6482www.cbcworldwide.com

CBSA Key West, FL

Square Miles 997

Population 73,047

Households 32,553



Unemployment 4.30%

RETAIL



CONTACT

FL - Florida Keys/Key West

OFFICE

•Cap rates are shrinking due to low interest rates and a limited supply of product.

•New construction is finally taking place in the area.

•Multi-Family remains the strongest market.

•The Office market has a lot of tenants shifting to other spaces.

•The Retail market is very active with new construction up and down major corridors.

•The area continues to grow with the expansion of the Fort Lauderdale Airport and the rise of population.

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Coldwell Banker CommercialNRT - Boca Raton1800 NW Corporate Blvd. Suite 100Boca Raton, FL 33431(561) 367-4111www.cbcworldwide.com

CBSA

Miami-Fort Lauderdale-Pompano Beach, FL

Square Miles 5,126





Unemployment 8.10%

RETAIL



CONTACT

FL - Fort Lauderdale/Broward County

OFFICE

www.RealEstateFlordiaKeys.com

www.RealEstateFlordiaKeys.com



19

•Average closed Office lease rate was $12.89 SF gross.

•Average asking Office lease rate is $13.39 SF gross.

•The average closed Retail lease rate was $14.46 SF.

•The average asking Retail lease rate is $15.39 SF.

•The year over year Office area available went down 5.0 percent and Retail area increased 15.0 percent.

•Activity is very high in both the Office and Retail markets with vacancies expected to decrease for both in 2013.

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Coldwell Banker CommercialM.M. Parrish Realtors7515 W. University Ave. Suite 201Gainesville, FL 32607(352) 264-3800www.mmparrish.com/commercial

CBSA Gainesville, FL

Square Miles 1,223

Population 261,674

Households 113,545



Unemployment 6.20%

RETAIL



CONTACT

FL - Gainesville

OFFICE

•Ladies apparel company Body Central leased 360,000 SF of Industrial space in Imeson Center in North Jacksonville. The group intends to move into the 1.5 million SF complex this summer.

•Body Central deal paved the way for Samsonite expansion in Jacksonville. Samsonite had occupied 200,000 SF in One Imeson and will move into a 240,000 SF of distribution space at 10089 North Main St. This space is in addition to an 800,000 SF facility located on Yeager Rd. in North Jacksonville.

•Catamount Constructors Inc. of Atlanta pulled building permits last week for the $26.8 million Deerwood Lake Lofts Apartment complex on Jacksonville’s Southside.

•Capital Advisors has arranged $16.2 million in refinancing for Oasis at Mandarin Apartments, a 256-unit Multi-Family community at 3355 Claire Lane in Jacksonville.

•A year and a month into his tenure as Jaguars owner, Shad Khan introduced a new logo for the franchise, a critical component of the first major rebranding for the organization since the team began play during the 1995 NFL season.

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Coldwell Banker CommercialBenchmark4348 Southpoint Blvd.Suite 310Jacksonville, FL 32216(904) 281-1990www.cbcbenchmark.com

CBSA Jacksonville, FL

Square Miles 3,221


Households 518,910



Unemployment 7.40%

RETAIL



CONTACT

FL - Jacksonville

OFFICE

www.mmparrish.com/commercial

www.cbcbenchmark.com

20

•Sykes leased a 96,000 SF location in North Lakeland for a call center.

•O’Reilly Automotive announces a 350,000 SF distribution regional Office at 3300 County Line Rd. in Lakeland.

•CSX acquired 300 acres south of Winter Haven and an additional 900 acres for a 8 million SF intermodal center.

•Florida Polytechnic University breaks ground on main building by world famous architect Santiago Calatrava.

•Downtown Winter Haven is emerging as the home of data center companies.

•Lakeland Regional Medical Center aligned with USF medical school and will become a teaching hospital.

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Coldwell Banker CommercialSaunders Ralston Dantzler Realty114 N Tennessee Ave. 3rd FloorLakeland, FL 33801(863) 877-2828www.srdcommercial.com

CBSALakeland- Winter Haven, FL

Square Miles 2,010

Population 606,019

Households 228,998



Unemployment 8.60%

RETAIL



CONTACT

FL - Lakeland/Winter Haven

OFFICE

•Bass Pro Outlet locating to Palm Bay Rd. & I-95.

•Numerous high-tech & aviation companies locating to Melbourne area & Brevard County are reducing vacancies.

•Port Canaveral has a new cruise terminal; Harris Corp campus is expanding by 450,000 SF; and AFTA’s nuclear detection complex at Patrick Air Force Base is 276,000 SF.

•Residential sales are up and inventory is down.

•The privatization of space has attracted many space companies and created thousands of jobs.

•Melbourne area is becoming an aviation industry center in FL.

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Coldwell Banker CommercialEd Schlitt, L.C.232 Fifth Ave.Indialantic, FL 32903(321) 723-9500www.cbc.flcoldwellbanker.com

CBSAPalm Bay-Melbourne-Titusville, FL

Square Miles 1,018

Population 536,805

Households 225,977



Unemployment 8.30%

RETAIL



CONTACT

FL - Melbourne/Brevard County

OFFICE

www.srdcommercial.com

www.cbc.flcoldwellbanker.com

21

•“Space Coast” Brevard offers pro-business incentives: low taxes, robust transportation infrastructure, and high-tech labor force, as well as, an average temperature of 73 degree and 72 miles of pristine beach.

•The $100 million Harris Technology Center project breaks ground in Palm Bay. The 6-story, 450,000 SF facility will create 100 new permanent technical and support jobs and is projected to add up to 300 construction jobs over the next 3 years.

•U.S. Navy breaks ground on new Strategic Weapons System Ashore (SWS Ashore) facility to create 100 jobs in 3 years with average salaries of $90,000 and an 85 percent rate of the projected workforce local to include former Shuttle workers.

•Global Technology Company, Nuance Communications, will expand its operations in Melbourne to create 115 new jobs by the end of 2013 and raise its total projected economic impact by 66 percent to nearly $24.4 million.

•Professional Aircraft Accessories opened its 20,000 SF, $1.5 M expansion facility at Space Coast Regional Airport adding 65 jobs to boost PAA’s total economic impact to over $28 million.

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Coldwell Banker CommercialSun Land Realty of Florida1920 Hwy A1AIndian Harbour BeachFL 32937(321) 777-7743www.cbcsunlandrealty.com

CBSAPalm Bay-Melbourne-Titusville, FL

Square Miles 1,018

Population 536,805

Households 225,977



Unemployment 8.30%

RETAIL



CONTACT

FL - Melbourne/Palm Bay/Titusville

OFFICE

•Consistently a top market for foreign buyers, Miami has experienced robust sales activity since 2008. Local demand is also fueled by vacation and second home buyers for baby boomers and from net migration from other states.

•Unmatched accessibility: unrivaled global transportation connections available through Miami International Airport (MIA) and the Port of Miami. The Port of Miami-Dade is both the world’s leading port for cruise line passenger traffic and the top container port in the State of FL.

•Miami-Dade County is one of the world’s leading metropolitan areas for global companies with a roster of more than 1,000 multi-national corporations that include Apple, Oracle, IBM, Clorox, Burger King and Porsche. It is home to the third largest consular corps in the United States.

•There is a high quality of life with a wide range of housing options, year-round outdoor recreational activities, renowned cultural institutions and four major professional sports franchises.

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Coldwell Banker CommercialNRT - Coral Gables1500 San Remo Suite 110Coral Gables, FL 33146(305) 302-6737www.cbcworldwide.com

CBSA Miami-Dade, FL

Square Miles 5,126





Unemployment 9.10%

RETAIL



CONTACT

FL - Miami/Dade

OFFICE

www.cbcsunlandrealty.com


22

•Arthrex is building a 600,000+ SF factory in Ave Maria.

•Retail and Industrial are improving, but Office lags.

•There will be very little new construction until vacancies rates come down more.

•The residential market is rapidly improving and prices are up, but there is still a large overhang of foreclosed properties.

•The Commercial market should slowly improve, but is a year or two away from normal times.

•The baby boomers are coming again!

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Coldwell Banker CommercialNRT - Naples550 Fifth Ave. S.Naples, FL 34102(239) 216-4949www.cbcworldwide.com

CBSA Naples-Marco Island, FL

Square Miles 2,025

Population 320,101

Households 132,487



Unemployment 7.30%

RETAIL



CONTACT

FL - Naples/Ft. Myers

OFFICE

•Amcor Rigid Plastics USA relocated from 230,000 to 500,000 SF.

•Orlando has had four consecutive Quarters of positive absorption, encouraging news coming from the Retail sector and the Housing market. Rents should stabilize and the interest rates are still low. This entices companies to consider buying a building rather than leasing, which has helped Industrial sales.

•It appears that build-to-suits in the 50,000-100,000 SF range will come online this year.

•Improvements in residential construction (17 percent) from the 3Q, continued low interest rates and attractive sales prices have bolstered the residential market overall.

•Lease rates and building sales prices are beginning to recover; which should spur investment activity.

•The Hospitality and Retail markets continue to drive the Orlando market. Lake Nona’s growing Medical City will likely affect the south Orlando Industrial market positively in 2013.

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Coldwell Banker CommercialNRT - Maitland901 N. Lake Destiny Dr.Maitland, FL 32751(407) 571-5294www.cbcworldwide.com

CBSA Orlando-Kissimmee, FL

Square Miles 3,491


Households 799,047



Unemployment 7.60%

RETAIL



CONTACT

FL - Orlando

OFFICE



23

•Digital Domain closed.

•Absorption rates are up for Retail, Office and Warehouse locations.

•There is a new Bass Pro Shop in the area.

•Inventory is down and prices are going up.

•Buyers are willing to buy at market price with very little negotiation.

•The area is the best place to live, work and play.

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Coldwell Banker CommercialThomas J. White Realty1555 NW St. Lucie West Blvd.Port Saint Lucie, FL 34986(772) 340-4001www.tjwcommercial.com

CBSA

Miami-Fort Lauderdale-Pompano Beach, FL

Square Miles 5,126





Unemployment 8.10%

RETAIL



CONTACT

FL - Palm Beach

OFFICE

•There is a large medical clinic in the area.

•Vacancy rates remain the same.

•The new Publix Center is located on Peachland Blvd. in Pt Charlotte.

•The residential market is improving.

•There is no new change in the market at this point.

•There is a sub-secondary market between Sarasota and Fort Myers, FL.

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Coldwell Banker CommercialSunstar Realty, Inc1980 Kings Hwy.Port Charlotte, FL 33980(941) 255-7223www.sunstarcommercial.com

CBSA Punta Gorda, FL

Square Miles 694

Population 156,239

Households 70,703



Unemployment 8.00%

RETAIL



CONTACT

FL - Punta Gorda

OFFICE

www.tjwcommercial.com

www.sunstarcommercial.com

24

•Commercial sales and leasing are up.

•Low Lease rates are bringing new Tenants

•Q4 sales were fueled by the fiscal cliff.

•Banks seem to be releasing more foreclosed property.

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Coldwell Banker CommercialNRT - Sarasota100 North Tamiami Trl.Sarasota, FL 34236(941) 925-8586www.cbcworldwide.com

CBSASarasota- Bradenton-Venice, FL

Square Miles 1,313

Population 689,676

Households 311,173



Unemployment 7.80%

RETAIL



CONTACT

FL - Sarasota/Manatee Counties

OFFICE

•Port St. Lucie saw the collapse of Digital Domain in 2012. However, Martin Memorial Hospital will open soon in Southern St. Lucie County.

•Commercial sector vacancies are still high, but prime. Well-maintained Retail and Offices are seeing better than average occupancy and rates.

•A new Federal Court House was recently completed in Downtown Fort Pierce, but there is limited construction in the Commercial sector.

•Inventory of existing homes is substantially lower; median price is increasing; and new home sales are improving.

•The residential construction has rebounded on the Treasure Coast. The rental rates for Industrial and Retail space are expected to improve.

•St. Lucie County continues to be the “Pro Growth” county on the Treasure Coast. It is only a two hour drive from 80 percent of the population of FL. The affordable home prices continue to attract new residents.

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Coldwell Banker CommercialEd Schlitt, L.C.411 N. U.S. Highway 1Fort Pierce, FL 34950(772) 461-3250www.cbc.flcoldwellbanker.com

CBSA Port St. Lucie, FL

Square Miles 1,128

Population 407,361

Households 169,340



Unemployment 9.50%

RETAIL



CONTACT

FL - St. Lucie County

OFFICE


www.cbc.flcoldwellbanker.com

25

•Bass Pro Shops are opening a 100,000 SF store in Port St Lucie.

•Martin Memorial is breaking ground for new hospital in Town of Tradition.

•The Residential market is improving with low inventory and an increase in home prices.

•Bio Tech Industry is located in Port St Lucie.

•St Lucie County is to review the comprehensive port plan in Fort Pierce.

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Coldwell Banker CommercialNRT - Port St Lucie1973 SW Savage Blvd.Port St. Lucie, FL 34953(772) 370-2320www.cbcworldwide.com

CBSA Port St. Lucie, FL

Square Miles 1,128

Population 407,361

Households 169,340



Unemployment 9.50%

RETAIL



CONTACT

FL - St. Lucie/Martin Counties

OFFICE

•Bass Pro Shops has announced its entry into the market, backfilling the vacant 70,000 SF Sportsmans Warehouse in the Fallschase commercial development.

•Office vacancy remains at 20 percent due to State of FL agencies continuing to downsize or moving into State owned buildings.

•Residential construction is improving. Commercial construction is strong in Multi-Family student housing, but weak in other areas.

•The residential market improved in 2012 with sales up 13 percent over 2011 and the average sale price up 14 percent.

•Sales are finally happening of properties that have been on the market for a long time. It is hopeful that with inventory declining, the market will improve.

•Tallahassee continues to lead the State of FL with one of the lowest unemployment rates at 7 percent.

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Coldwell Banker CommercialHartung & Noblin, Inc.3303 Thomasville Rd.Tallahassee, FL 32308(850)386-6160www.cbcworldwide.com

CBSA Tallahassee, FL

Square Miles 2,387

Population 361,765

Households 154,494



Unemployment 6.60%

RETAIL



CONTACT

FL - Tallahassee

OFFICE



26

•Walmart has moved into a 145,000 SF at River Club Plaza. Highland Packaging Solutions signed a 243,903 SF Industrial lease at 141410 Gordon Food Service Dr. in East Hillsborough City. Nedco Health at Netpark signed a 143,274 SF Office lease in the 1-75 Corridor market.

•During the Q4 of 2012, six Office buildings totaling 169,607 SF were completed in the Tampa/St. Petersburg market area. This is compared to one building totaling 6,000 SF completed in the Q3 of 2012.

•In Tampa, 1,537 single-family units were started in 3Q 2012. This represents an increase of 31.0% compared to last year’s rate of 1,173 units. The annual starts rate, compared to last year, increased by 24.0%, to 4,739 annual starts. Single-family Quarterly closings totaled 1,269 units, which is 0.2% higher.

•The Tampa market area is growing at a moderate pace and the above average payroll growth is providing a lift to wage gains in Tampa. A combination of stronger job creation and improved housing affordability is boosting migration. As a result, the area’s population growth surpassed the US in 2011 for the first time since 2006. Strong demographic trends and low interest rates are creating the best environment to invest in Multi-Family housing in 100 years, as quoted by the TBBJ.

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Coldwell Banker CommercialNRT - Tampa5010 W. Kennedy Blvd.Tampa, FL 33609(813) 286-2964www.cbcworldwide.com

CBSATampa-St. Petersburg-Clearwater, FL

Square Miles 2,554





Unemployment 7.90%

RETAIL



CONTACT

FL - Tampa, Greater Area

OFFICE

•Retailers like Wawa, The Container Store, Dollar General & Family Dollar are expanding into the Tampa market.

•The Office investment property market is heating up. Parmenter Realty Partners purchased 2 buildings on Rocky Point for $85.5m; Feldman Equities purchased Wells Fargo Center downtown for $44.8m; Parkway Properties purchased The Point on Rocky Point for $46.8m; and there are several other similar deals currently under contract.

•Office leasing has picked up in Q4 of 2012 in the Westshore and Downtown Tampa markets. Pricewaterhouse Coopers recently signed a 248,000 SF build-to-suit office deal with MetWest International across from Tampa International Airport.

•Coca-Cola USA completed the build out of a 202,500 SF lease in Q4, one of the few remaining large blocks of Industrial space. Rents for those property types have inched up as a result of scarcity.

•Multifamily and healthcare are some of the sectors seeing the most activity. Universities also continue to expand in the area.

•Banks are loosening credit and making financing more readily available compared to last year.

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Coldwell Banker CommercialSage Corporate Advisors400 N Tampa St. Suite 2430Tampa, FL 33602(813) 999-4944www.cbcsage.com

CBSATampa-St. Petersburg-Clearwater, FL

Square Miles 2,554





Unemployment 7.90%

RETAIL



CONTACT

FL - Tampa/St. Petersburg

OFFICE


www.cbcsage.com

27

•Winter Haven, a sub-market of the Tampa Bay metro area, is opening several eateries. Locations such as Starbucks, Chick-Fil-A, Panera Bread, and Fire have either opened or are opening soon.

•FL Governor Rick Scott lauded the vision and potential for the Winter Haven Intermodal Terminal and noted that Panama Canal shipping will double after the widened waterway opens in 2014. He added “FL’s strategic position is a perfect opportunity for the state to become an international shipping hub.”

•The Evansville Western Terminal will be a key element of the state’s growing international influence. Surrounding the site on 900+ additional acres, the terminal will lead to the construction of a business and warehousing park.

•The long term economic impact of this project will enhance Winter Haven and Central FL’s future for generations to come.

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Coldwell Banker CommercialNRT - Winter Haven290 Cypress Gardens Blvd.Winter Haven, FL 33880(863) 294-7541www.cbcworldwide.com

CBSALakeland- Winter Haven, FL

Square Miles 2,010

Population 606,019

Households 228,998



Unemployment 8.60%

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CONTACT

FL - Winter Haven

OFFICE

•Ethicon Inc., a subsidiary of Johnson & Johnson, will invest $185 million in a new 100,000 SF production facility in Athens, GA. The company will produce specialized surgical sutures and is expected to create 75 new jobs.

•Downtown Athens, GA continues to thrive as approximately $140 million worth of investment is slated to be spent within the next 2 years. Projects include: a $24 million expansion of The Classic Center;The construction of a $36 million Hyatt Hotel; The development of a $30 million student housing complex called ‘The Standard’; A $50 million Broad Street project, consisting of four commercial buildings

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Coldwell Banker CommercialUpchurch Realty2405 W. Broad St. Suite 150Athens, GA 30606(706) 354-7870www.upchurchrealtycommercial.com

CBSA Athens-Clarke County, GA

Square Miles 1,031

Population 193,495

Households 77,486



Unemployment 6.60%

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CONTACT

GA - Athens

OFFICE


www.upchurchrealtycommercial.com

28

•Atlanta is ranked among the best in the nation for the lowest cost of doing business and holds the 8th position for the largest economy in America.

•There are currently 15,319 prospective Apartment units in Atlanta’s pipeline, 3,329 units under construction and 388 units being redeveloped. In the second half of 2012, Atlanta witnessed 39 apartment sales totaling just over $500 million.

•Overall Q4 vacancy declined to 15.9 percent as the Atlanta Office market posted four consecutive Quarters of positive absorption for the first time since 2007.

•Horizon Group’s Outlet Shoppes at Atlanta, a 370,000 SF Retail outlet center in Woodstock, broke ground in 2012 while Avalon, North American Properties’ 550,000-SF Mixed-Use development in Alpharetta, is expected to begin construction in the Q1 of 2013.

•The Atlanta Industrial sector exhibited healthy demand growth throughout 2012, adding 1.3 million SF of occupied space in Q4.

•Key Industrial lease transactions during 2012 included Home Depot, which completed a 1.1 million SF build-to-suit lease in the I-75 South submarket and International Paper, which leased 356,000 SF at 300 Horizon Pkwy. in the Northeast Atlanta submarket.

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Coldwell Banker CommercialMetro Brokers3575 Piedmont Rd NE Building 15 Suite 950Atlanta, GA 30305(404) 320-4800www.cbcmetrobrokers.com

CBSAAtlanta-Sandy Springs-Marietta, GA

Square Miles 8,376





Unemployment 8.40%

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CONTACT

GA - Atlanta

OFFICE

•Carbondale Business Park is a shovel-ready Industrial and Commercial site located on I-75, ready for manufacturing, warehousing, and distribution. Publicly owned, available lots range from 3 to 50 acres with all utilities.

•Engineered Floors, LLC is currently undergoing a 200,000 SF expansion to their existing 200,000 SF manufacturing facility.

•Academy Sports, Kohl’s and Petco are located in a new Retail development off of I-75.

•Average residential sales price increased by 17 percent from 2011 to 2012.

•A 5 year education SPLOST passed county-wide in 2012.

•Dalton State College has approximately 6,000 students. Along with offering 19 bachelor degrees, DSC is introducing intercollegiate athletics with basketball in fall 2013.

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Coldwell Banker CommercialKinard Realty704 S. Thornton Ave.Dalton, GA 30720(706) 226-1985www.cbcnorthgeorgia.com

CBSA Dalton,GA

Square Miles 634

Population 134,366

Households 46,872



Unemployment 11.30%

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CONTACT

GA - Dalton/Whitfield County

OFFICE

www.cbcmetrobrokers.com

www.cbcnorthgeorgia.com

29

•The Hinesville/Fort Stewart MSA was the third Fastest Growing MSA in the U.S. in 2011-2012.

•The Hinesville/Fort Stewart MSA is among the top 4 leaders in employment growth rates since pre-recession.

•Fort Stewart is the largest military installation east of the Mississippi River and is 5th in the nation in military population.

•Fort Stewart has a $5.2 billion economic impact on the region as of July of 2012.

•Liberty County is centrally located between 4 deep water ports and 2 are within 45 minutes of the site.

•Liberty county has a highly disciplined, motivated and trained military retiree work force.

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Coldwell Banker CommercialHoltzman Realtors730 General Stewart WayHinesville, GA 31313(912) 408-4040www.cbcholtzman.com

CBSA Hinesville-Fort Stewart, GA

Square Miles 920

Population 73,844

Households 26,115



Unemployment 8.90%

RETAIL



CONTACT

GA - Hinesville/Fort Stewart

OFFICE

•Tractor Supply located a half million SF distribution facility in Macon, GA to be completed in 2013.

•Vacancies are falling as Savannah Port creates new distribution opportunities in Macon, GA.

•New construction of speculative Industrial spaces are at an all time low.

•Residential development consists primarily of three new large scale Apartment complexes.

•The City and County governments were consolidated by a local election in 2012 and the consolidation is expected to be completed in 2013.

•Macon is home to the World’s Largest Cherry Blossom Festival; with over one million visitors in attendance the last three years.

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Coldwell Banker CommercialEberhardt & Barry990 Riverside Dr.Macon, GA 31201(478) 746-8171www.coldwellbankercommercialeb.com

CBSA Macon, GA

Square Miles 1,725

Population 232,119

Households 89,721



Unemployment 9.20%

RETAIL



CONTACT

GA - Macon/Bibb County

OFFICE

www.cbcholtzman.com

www.coldwellbankercommercialeb.com

30

•Posting the highest volume in 2012, Port of Savannah is the 4th largest and fastest growing U.S. container port.

•A 4,000,000 SF Warehouse space is available close to port.

•Gulfstream enters 12 year lease of 70,000 SF Office building, showing commitment to grow and hire 1,000 new employees.

•A 170 acre 560,000 SF luxury outlet mall is projected to open summer 2014 in Pooler.

•The Industrial and Warehouse space vacancy rate fell to 12.4 percent, spurring construction of 850,000 SF.

•Room tax revenues passed pre-recession peak as the Hospitality industry surged when Savannah was ranked within the ‘Top Ten World’s Best Cities’ by AmEx Publishing Corp.

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Coldwell Banker CommercialPlatinum Partners128 Habersham St.Savannah, GA 31401(912) 232-7120www.cbcplatinum.com

CBSA Savannah, GA

Square Miles 1,359

Population 347,453

Households 130,609



Unemployment 8.20%

RETAIL



CONTACT

GA - Savannah

OFFICE

•Hawaii’s economy remains healthier than the continental U.S. with tourism posting a 10 percent increase in visitor arrivals over 2011 levels and setting record highs over 2007.

•Hawaii’s construction has improved over 2011, by attracting out-of-state firm competition for awarded contracts with military and government projects.

•In 2012, the unemployment rate decreased to 5.3 percent.

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Coldwell Banker CommercialNRT -Hawaii737 Bishop St. Suite 2000Honolulu, HI 96813(808) 526-0896www.cbcpacific.com

CBSA Honolulu, HI

Square Miles 600

Population 910,677

Households 311,782



Unemployment 5.30%

RETAIL



CONTACT

HI - Honolulu

OFFICE

www.cbcplatinum.com

www.cbcpacific.com

31

•The major grocer openings in the Treasure Valley for 2012 include: Fred Meyer, Rosauer’s Supermarket and Whole Foods in downtown Boise. Construction is underway on Walmart’s first neighborhood market in Boise. Gordman’s opened two locations in Meridian and Nampa, Idaho.

•Transaction activity increased significantly in 2012 due to pent-up demand from 2008 to 2011. Many retailers that previously put expansion plans on hold during the recession have decided to move forward with plans in 2012.

•There have been several new developments in the area including: the Meridian Town Center at 500,000 SF and a $250 million retail project in Meridian, Idaho. CenterCal Properties has leased over 250,000 SF of the project’s space with tenants to include: Gordman’s, Marshalls, Petco, Gap Outlet, Nike Outlet, Babies R Us, Toys R Us, Cinema West and Big Al’s.

•Permits for Multi-Family developments, along with projects already under way, may lead to an overbuilt Multi-Family sector. Multi-Family developers must still compete with low mortgage payments on starter homes.

•Vacancy should continue to decline.

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Coldwell Banker CommercialNRT - Salt Lake City6550 South Millrock Dr. Suite 200Salt Lake City, UT 84121(801) 947-8300www.coldwellidaho.com

CBSA Boise City-Nampa, ID

Square Miles 11,788

Population 610,611

Households 224,823



Unemployment 6.20%

RETAIL



CONTACT

ID - Boise

OFFICE

•WINCO will relocate to a new 92,000 SF building March 15, 2013.

•Medical space has increased in the area.

•Dicks Sporting Goods opened a new store in 2012.

•Knudsen Corner, a 67 acre Retail professional developmen, kicks off in the spring of 2013.

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Coldwell Banker CommercialNRT - Salt Lake City6550 South Millrock Dr. Suite 200Salt Lake City, UT 84121(801) 947-8300www.coldwellidaho.com

CBSA Pocatello, ID

Square Miles 2,519

Population 120,040

Households 42,871



Unemployment 5.70%

RETAIL



CONTACT

ID - Eastern

OFFICE

www.coldwellidaho.com

www.coldwellidaho.com

32

•State Farm Insurance continues employment growth.

•Local jobless rate stays consistently best in the state.

•The local housing market is up 20 percent for 2012.

•Retail market is improving as vacancies decrease.

•Apartment market is experiencing low vacancy rates.

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Coldwell Banker CommercialHeart of America Realtors802 S. Eldorado Rd.Bloomington, IL 61704(309) 662-3377www.cbhoacommercial.com

CBSA Bloomington-Normal, IL

Square Miles 1,184

Population 168,918

Households 70,687



Unemployment 6.30%

RETAIL



CONTACT

IL - Bloomington/Normal/McLean

OFFICE

•Caterpillar Inc. has continued to progress their plans for a new headquarters. The City of Peoria has proactively supported redevelopment in the CBD, River Front, and Warehouse District. This is being done specifically to enhance marketability of Peoria to the 25-41 year old demographic.

•Existing supply of Industrial space has been absorbed, and there is need for 25,000-100,000 SF of Industrial space.

•There is new construction in Retail. Build-to-suit construction continues to progress with new retailers entering the market.

•New construction in residential is performing well and in shortage within the $225,000-$325,000 price point.

•Many companies located in high rise Office buildings in the CBD have relocated north to single story Office space.

•The general feeling is that the market is stable, and vacancy rates are declining with values being stable.

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Coldwell Banker CommercialDevonshire Realty4507 N. Sterling Ave. Suite 203Peoria, IL 61615(309)692-7707www.cbcdr.com

CBSA Peoria, IL

Square Miles 2,470

Population 377,630

Households 153,377



Unemployment 8.30%

RETAIL



CONTACT

IL - Central

OFFICE

www.cbhoacommercial.com

www.cbcdr.com

33

•Carle Hospital continues construction of their new “North Tower” and has announced plans to expand their emergency room.

•Parkland College has begun work on their new Student Services addition.

•Construction is underway for the new 800,000 SF facility for Easten-Bell Sports in Rantoul.

•The University of Illinois continues to work on the Ikenberry Commons residence hall redevelopment and on the Electrical & Computer Engineering building.

•The market for student Multi-Family buildings continues to be very strong. Multiple student housing developments are being planned or underway.

•The Retail market continues its recovery as vacancy is slowly falling and “A” locations have been redeveloped. The South Neil St. corridor is poised for continued growth with several development and redevelopment plans announced.

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Coldwell Banker CommercialDevonshire Realty201 W. Springfield 11th FloorChampaign, IL 61820(217) 352-7712www.cbcdr.com

CBSA Champaign-Urbana, IL

Square Miles 1,923

Population 227,494

Households 97,325



Unemployment 7.40%

RETAIL



CONTACT

IL - Champaign/Urbana

OFFICE

•The greater Will County area has seen many large box Warehouses starting to fill in 2012. WW Grainger Co. purchased a 850,00 SF warehouse in Minooka for another major distribution location. International Harvester Truck Division purchased a 700,000 SF Warehouse.

•The vacancy rate on Industrial property is falling as the spec buildings are being filled. Commercial spaces are very slow and the rental rates are below cost to construct.

•New construction is still slow in all aspects of the market unless there is a specific need for a company. The trend will continue until the banks’ inventories have been absorbed.

•There is movement in this market of developed Land being purchased from the banks. Most are great buys, and buyers have to be willing to wait.

•The biggest change is in the way people are looking at investments and lenders. The people with money are expecting high returns if they are giving up cash. While lenders claim they have money to lend, the requirements to get it are almost impossible to meet.

•The greater Will County, IL area has position itself to be the nations crossroad for all types of transportation.

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Coldwell Banker CommercialHonig-Bell950 Essington Rd.Joliet, IL 60435(815) 725-8500www.cbchonigbell.com

CBSAChicago- Naperville- Joliet, IL-IN-WI

Square Miles 7,212





Unemployment 8.60%

RETAIL



CONTACT

IL - Chicago, Southwest

OFFICE

www.cbcdr.com

www.cbchonigbell.com

34

•The Chicago Industrial market continued to improve in the Q4 of 2012. There was 5,835,000 SF of net absorption. Some of the large leases signed in 2012 were Nippon Express for 500,000 SF and Pactiv Corp. for 490,000 SF.

•The vacancy rate in Industrial, Office and Retail all decreased in 2012. There was very little new construction in 2012 in all three property types, but there are a number of new Industrial and Retail projects being built and proposed in 2013.

•There was 2.5m SF of Industrial space built in 2012 and an additional 2m is currently under construction. In 2012, there was 830,000 SF of Office space delivered with an additional 812,000 SF currently under construction. A 775,000 SF of Retail space was also built in 2012 and an additional 1.6m SF is currently under construction.

•The Residential market continues to show improvement. Sales of single family homes have increased with fewer foreclosures, and prices continue to increase. The Apartment market continues to be strong with low vacancies, increasing rents and several new projects being built and many being proposed.

•The Industrial and Retail markets continue to show improvement.

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Coldwell Banker CommercialNRT - Northbrook2215 Sanders Rd.Northbrook, IL 60062(847) 313-4600www.cbcworldwide.com

CBSAChicago- Naperville- Joliet, IL-IN-WI

Square Miles 7,212





Unemployment 8.60%

RETAIL



CONTACT

IL - Chicagoland

OFFICE

•Heyl Royster relocated to 10,000 SF stand alone facility.

•There is strong demand for Class A space but demand for Class B space is moderate.

•Most new construction is related to the medical field.

•Residential Market is showing strong increase in volume and moderate increase in pricing.

•New Medical and Retail sectors continue to grow, and the economic certainty is opening new opportunities.

•The area is the State Capitol and is centrally located in Illinois

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Coldwell Banker CommercialDevonshire Realty3201 Old Jacksonville Rd.Springfield, IL 62711(217) 547-6650www.cbcdr.com

CBSA Springfield, IL

Square Miles 868

Population 196,269

Households 82,636



Unemployment 7.20%

RETAIL



CONTACT

IL - Springfield

OFFICE


www.cbcdr.com

35

•CAT continues to expand and invest, including key acquisitions in the downtown Peoria market. Tazewell County has seen development in Industrial markets with new construction and planned development for the coming year. Local hospitals continue their planned expansion.

•Commercial development in East Peoria has sustained with large Retailers attracting smaller development in the area. Vacancies are down, and rents have remained steady.

•The Multi-Family arena continues to be strong with many investors due to the low interest rates and vacancies.

•Regional unemployment has receded with local businesses hiring. A slow-down in development and new construction may curtail gains.

•Private Healthcare has slowed with multiple deals drying up in anticipation of pending health care reform. The concern over aged receivables appears to be paramount.

•The Residential market is showing strong signs of improvement, likely a portent of stronger economic growth and commercial market improvement.

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Coldwell Banker CommercialHonig-Bell4039 Route 59Naperville, IL 60564(309) 263-7400www.cbchonigbell.com

CBSA Peoria, IL

Square Miles 2,470

Population 377,630

Households 153,377



Unemployment 8.30%

RETAIL



CONTACT

IL - Tazewell County

OFFICE

•Fort Wayne is the second largest city in Indiana.

•The new Harrison Apartment complex which overlooks the Parkview Field, a minor league baseball stadium, on the third and fourth levels of the building has been completed. The complex also houses an Irish pub and a credit union on the lower level and a law firm on the second level.

•The Martin Luther King Bridge Jr. Memorial Bridge was completed in 2012. It provides a grand entrance to downtown by Headwaters Park and has improved the downtown district. The bridge includes 25 plaques with quotes from Dr. King, a soaring 50-foot high arch and state-of-the-art lighting.

•Parkview Regional Medical Center, a state-of-the-art new 446 bed hospital, has created more traffic on the NW side of Fort Wayne. This traffic has caused a new exit to be put in on I-69 at Union Chapel Rd..

•All I-69 exits in Fort Wayne were recently renumbered to reflect the expansion plans to extend the interstate to Southern Indiana.

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Coldwell Banker CommercialRoth Wehrly Graber1206 E Dupont Rd.Fort Wayne, IN 46825(260) 255-5501www.commercialindiana.com

CBSA Fort Wayne, IN

Square Miles 1,363

Population 415,734

Households 161,928



Unemployment 7.90%

RETAIL



CONTACT

IN - Fort Wayne

OFFICE

www.cbchonigbell.com

www.commercialindiana.com

36

•Office vacancies decreased to 9.3 percent in Q4, becoming the 4th straight decreasing quarter of the year.

•The Industrial vacancy rate rose slightly to 6.7 percent with spec construction on the way.

•Retail made a slight comeback with a decreased vacancy to 7.3 percent and a positive absorption of over 440,000 SF.

•REO and Special Asset sales slowed overall in 2012 and are down 42 percent from the previous year.

•There is confidence returning to Indianapolis and Central Indiana companies, both large and small, through new projects, minimal hiring and increased planning activity.

•Indianapolis is poised for several new construction projects in the Industrial, Multi-Family and Restaurant arenas.

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Coldwell Banker CommercialRealty Services8888 Keystone Crossing Suite 120Indianapolis, IN 46240(317) 249-9000www.cbcrs.com

CBSA Indianapolis, IN

Square Miles 3,863


Households 690,844



Unemployment 8.00%

RETAIL



CONTACT

IN - Indianapolis MSA

OFFICE

•Magna announces 60,000 SF expansion.

•Ground broken on new 276 unit Student Apartment Complex.

•A new Auto Mall center has broken ground.

•In 2012, Residential unit sales increased 14.5 percent and on average the price is up 5 percent.

•Spartech Corporation completed a 60,000 SF expansion.

•Progress Rail is renovating 40,000 SF of existing Office space for their engineering department.

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Coldwell Banker CommercialLunsford Real Estate3601 W. Bethel Ave.Muncie, IN 47304(765) 289-2228www.cblcre.com

CBSA Muncie, IN

Square Miles 393

Population 115,425

Households 48,625



Unemployment 9.30%

RETAIL



CONTACT

IN - Muncie

OFFICE

www.cbcrs.com

www.cblcre.com

37

•Vacancies are declining with the increased interest in Garden City, KS.

•There is an increase of new companies coming into the city, creating the need for new construction.

•The Residential market is very strong.

•The market has never had a down-turn, so now with increased activity, the market is increasing in value.

•The community has always had a strong economy.

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Coldwell Banker CommercialThe Real Estate Shoppe, Inc.1135 College Dr. Suite EGarden City, KS 67846(620) 275-7421www.cbcworldwide.com

CBSA Garden City, KS

Square Miles 1,302

Population 42,609

Households 13,697



Unemployment 4.90%

RETAIL



CONTACT

KS - Garden City

OFFICE

•New construction is back. REI and IKEA have announced new stores and AMC, a new corporate Office.

•614 Apartment units were built in 2012, and 377 units are already under way for 2013.

•Prairiefire is a new Retail and Apartment project with the Museum of Natural History underway.

•Metro home sales are up 20 percent over last year.

•Kansas is keeping track of natural gas development as the reserves in the western part of the state are under consideration for mining.

•660,860 SF of Industrial space was absorbed in the last quarter.

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Coldwell Banker CommercialFishman & Company1948 E. Santa FeOlathe, KS 66062(913) 782-9000www.cbcfishman.com

CBSA Kansas City, MO-KS

Square Miles 7,857


Households 819,900



Unemployment 6.40%

RETAIL



CONTACT

KS-MO - Kansas City Metro

OFFICE


www.cbcfishman.com

38

•Bingham McCutchen Law Firm hires 250 people.

•Medical and Technology are sectors experiencing growth.

•Unemployment was down two percent in December of 2012.

•Lexington’s 2012 housing sales are up 17 percent over 2011.

•There are state and local incentives available for new development.

•The Lexington area is within a one day drive to approximately 2/3 of the U.S. population.

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Coldwell Banker CommercialMcMahan Co.444 Lewis Hargett Circle Suite 240Lexington, KY 40503(859) 219-0080www.cbcworldwide.com

CBSA Lexington, KY

Square Miles 1,479

Population 473,956

Households 202,332



Unemployment 6.10%

RETAIL



CONTACT

KY - Lexington

OFFICE

•Louisville employment has been stronger than many markets during the last two years. Contributors have included the UPS National Airhub, the Ford plants, GE Appliance Park, YUM! Brands, the vitality of the medical industry (example: Humana acquired Kindred of St. Louis in 2011), and Amazon.com.

•Investor interest in Louisville Multi-Family is high, with cap rates higher than in glitzier markets. The problem, as elsewhere, is a lack of product. Occupancy is above 93 percent for upscale and 90-93 percent for lower. A significant number of sales closed in 2011 and 2012. New construction is underway.

•Retail in Louisville is flat and causing low double-digit vacancies. Poised to bounce back once the national economy rebounds; newcomers like Nike Outlet, Trader Joe’s, Urban Outfitters, Cabela’s and others create a good beginning.

•Industrial Louisville leasing activity is strongest in five years. Rates have been fairly flat, but are starting to rise. Vacancy has dropped below 7 percent for the first time in the last five years, spurred by growth of e-commerce distribution.

•Louisville Office remains a weak sector but with some improvement, especially in Class A.

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Coldwell Banker CommercialMcMahan Co.10600 Timberwood Circle Suite 7Louisville, KY 40223(502) 425-8800www.cbcworldwide.com

CBSALouisville -Jefferson County, KY-IN

Square Miles 4,135


Households 506,857



Unemployment 7.60%

RETAIL



CONTACT

KY - Louisville Metro

OFFICE


Amazon.com


39

•RC Components expands operations in Bowling Green.

•Corvette introduces 2014 Stingray to be built in Bowling Green.

•GM Announces expansion in Bowling Green with a new high performance engine line.

•KOBE Aluminum is expanding operations in Bowling Green.

•Davert USA to establishe operations in Bowling Green and create 20 Jobs.

•The average home price rose 5 percent in 2012.

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Coldwell Banker CommercialLegacy Real Estate Group2435 Fitzgerald Industral Dr. Suite 102Bowling Green, KY 42104(270) 781-3844www.cbclegacy.com

CBSA Bowling Green, KY

Square Miles 848

Population 121,646

Households 50,840



Unemployment 6.70%

RETAIL



CONTACT

KY - Southern

OFFICE

•The oil and gas industry continues to drive our market with new companies moving into the area and expansion of existing facilities.

•The mild hurricane season caused no operational disruptions. The offshore drilling in the Gulf of Mexico has resumed to full capacity.

•New construction in both commercial and residential is at record levels.

•Travel and tourism continues to attract visitors to the Acadiana Region which drives a strong Hospitality market.

•There are very few commercial loan defaults in the area, therefore the local banks remain strong and have acquired other financial institutions throughout the southeast.

•The closed commercial sales in 2012 exceeded all previous years, and 2013 is anticipated to stay on a similar track through the first 6 months.

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Coldwell Banker CommercialPelican Real Estate806 E St Mary Blvd.Lafayette, LA 70503(337) 233-9541www.cbcpelican.com

CBSA Lafayette, LA

Square Miles 1,010

Population 264,966

Households 101,487



Unemployment 3.70%

RETAIL



CONTACT

LA - Acadiana

OFFICE

www.cbclegacy.com

www.cbcpelican.com

40

•A 424 bed University Hospital and a VA Hospital are under construction; spurring real estate investments in surrounding area.

•Due to New Orleans’ ability to attract companies and entrepreneurs because of improved business incentives, tax structure, and political climate, vacancies are falling.

•The South Market District in New Orleans CBD will add 170,000 SF of Retail and 573 Apartment units starting February 13, 2013.

•Residential market showed signs of improvement with 3 percent appreciation to average sales price and increase in unit sales.

•Loyola Streetcar Line is now open and providing visitors with another public transit option to the Train and Bus Station in the New Orleans CBD.

•New Orleans 2013 Super Bowl proved that the city is built to handle the week of events.

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Coldwell Banker CommercialTEC Realtors701 Loyola Ave. Suite 401New Orleans, LA 70150(504) 566-1777www.cbctec.com

CBSANew Orleans- Metairie-Kenner, LA

Square Miles 3,153


Households 469,474



Unemployment 5.50%

RETAIL



CONTACT

LA - New Orleans

OFFICE

•Retail development is on the upswing with the construction of the new Super Walmart and Tractor Supply Center. A 170,000 SF Retail center is also due to open in Fall 2013.

•Due to continued national exposure and attractive lifestyle, the Midcoast area is seeing an increased activity in sales of residential properties.

•The Many Flags Regional Campus for high school and college students is closer to becoming a reality.

•Retail sales were ahead in 2012 for the region, and the outlook for 2013 is looking good for businesses and Retail sales.

•Tourism and hotel bookings are also looking very good for 2013.

•Trade area for the Midcoast Region includes 114,000 residents.

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Coldwell Banker CommercialSoundVest Properties147 Park St.Rockland, ME 04841(207) 596-7478www.soundvest.com

CBSA Rockland, ME

Square Miles 366

Population 40,753

Households 23,744



Unemployment 6.10%

RETAIL



CONTACT

ME - Midcoast

OFFICE

www.cbctec.com

www.soundvest.com

41

•With the exception of Black and Decker moving some years ago, there has been real lag in new tenants.

•While the mid-shore market isn’t exposed to large national tenants, the Retail sector is beginning to show signs of interest.

•In the past 4 years, new commercial construction has followed the path of the Washington-Baltimore metro area. The mid-shore area has been dominated by smaller infill projects.

•The residential market has responded well to the new market values. The activity is very positive.

•The most significant change is sellers recognizing the change in market values and pricing their properties accordingly.

•The mid-shore offers a terrific lifestyle for families. The convenience of being within an hour and half of the center of Washington D.C. and Baltimore is a fact that is becoming more appealing to businesses, residential clients and customers.

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Coldwell Banker CommercialChesapeake Real Estate Company8707 Commerce Dr.Easton, MD 21601(410) 822-9000www.cbcworldwide.com

CBSA Easton, MD

Square Miles 269

Population 36,349

Households 15,546



Unemployment 6.80%

RETAIL



CONTACT

MD - Eastern Shore

OFFICE

•Dart Container is expanding and bringing approximately 100 white collar jobs to mid-Michigan from the Chicagoland area.

•There is positive business growth in the Lansing/mid-Michigan area. Much of that growth in major business and industry has been through expansion of their own facilities instead of absorption of existing Industrial space.

•Both Residential and Industrial new construction has increased in 2012 and should continue to increase in 2013.

•Residential sales grew by 15 percent in 2012, and the sales volume was up 24 percent. The number of homes on the market continues to decrease and is starting to drive up the real estate values.

•Employment locally continues to improve as a result of small business expansions, as well as, growth with major employers like General Motors, the Medical industry and services, Emergent Biosolution, and FRIB/cyclotron federal funding at Michigan State University.

•Local government and private business have funded the Lansing Economic Area Partnership (LEAP), which has succussfully impacted regional businesses and job opportunities.

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Coldwell Banker CommercialHubbell BriarWood1020 S. Creyts Rd.East Lansing, MI 48917(517) 321-5000www.cbcworldwide.com

CBSA Lansing-East Lansing, MI

Square Miles 1,707

Population 453,378

Households 184,334



Unemployment 6.70%

RETAIL



CONTACT

MI - East Lansing MSA

OFFICE



42

•The Mixed-Use and Rental development markets are exploding.

•The area is primed for Hotel and Mixed-Use.

•There was an increase of new breweries, restaurants and other establishments.

•Home inventories are at record low.

•The emerging markets are creating building demands.

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Coldwell Banker CommercialSchmidt, Realtors2168 Wealthy St. SEEast Grand Rapids, MI 49506(616) 459-0400www.cbcworldwide.com

CBSA Grand Rapids-Wyoming, MI

Square Miles 2,828

Population 779,129

Households 293,209



Unemployment 6.50%

RETAIL



CONTACT

MI - Western

OFFICE

•Walmart Super Center completed construction in winter of 2012.

•The unemployment rate in area remains at 5.8 percent.

•Numerous Multi-Family buildings are currently under construction.

•Multi-Family continues to be strongest sector for highest transaction volume in area. Distressed and bank owned properties account for majority of transactions in the area.

•Central MN market consists of 200,000 +/- MSA with major employment sectors including Manufacturing, Agricultural, Education, and Medical.

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Coldwell Banker CommercialOrion Real Estate630 First St. S.Waite Park, MN 56387(320) 251-1177www.cbcorion.com

CBSA St. Cloud, MN

Square Miles 1,753

Population 189,957

Households 73,818



Unemployment 5.70%

RETAIL



CONTACT

MN - Central

OFFICE


www.cbcorion.com

43

•Significant transportation improvements including the opening of a new Highway between I-35 and Mankato, the new Highway 14 interchange with County Road 12 and the reconstruction of commercial thoroughfare Madison Ave.

•Commercial building permits have rebounded and are at a 3 year high.

•Health care growth continues with the opening of Mayo Clinic Health System’s new ER and other medical facilities.

•The Hospitality industry has grown as multiple new businesses have opened their doors in 2012.

•Multi-Family land purchases and developments are on a record pace.

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Coldwell Banker CommercialFisher Group1961 Premier Dr., Suite 404Mankato, MN 56001(507) 625-4715www.cbcfishergroup.com

CBSA Mankato-North Mankato, MN

Square Miles 1,205

Population 93,650

Households 39,391



Unemployment 4.40%

RETAIL



CONTACT

MN - Mankato

OFFICE

•Office development is concentrated around corporate users with over 900,000 SF under construction.

•Retail - 417,000 SF Galleria Sells for $127 million ($305 SF).

•In the Industrial sector, there is a strong demand for 32 Ft clear bulk Warehouse. Corporate users are turning to development because of the lack of options.

•Multi-Family development remains active resulting in strong interest in Land and redevelopment in the urban core.

•A 1.7 million SF Normandale Lakes Office Park sold for $268 million ($157/SF).

•Saks Fifth Avenue Off 5th will anchor a new outlet mall near Mall of America.

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Coldwell Banker CommercialGriffin Companies1221 Nicollet Ave. S. Suite 300Minneapolis, MN 55403(612) 904-7833www.cbcgriffin.com

CBSA

Minneapolis-St. Paul-Bloomington, MN-WI

Square Miles 6,063





Unemployment 5.10%

RETAIL



CONTACT

MN - Minneapolis/St. Paul Metro

OFFICE

www.cbcfishergroup.com

www.cbcgriffin.com

44

•Casino expansion is taking place.

•Ingalls to hire 5,000 new workers.

•Gulfport is the second largest city in Mississippi after the state capitol, Jackson.

•Gulfport is the location of Gulfport-Biloxi International Airport. The airport suffered extensive damage due to Hurricane Katrina. A major renovation project is for the most part completed, and it has resumed commercial air service. New airlines are being regularly added.

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Coldwell Banker CommercialAlfonso Realty, LLC625 Courthouse Rd.Gulfport, MS 39507(228) 287-1200www.cbcworldwide.com

CBSA Gulfport-Biloxi, MS

Square Miles 1,503

Population 240,010

Households 94,854



Unemployment 8.50%

RETAIL



CONTACT

MS - Gulfport/Biloxi

OFFICE

•Mercy Health Systems announced plans to build two 60,000 SF area clinics.

•A new 106 room Hampton Inn was announced in southeast Springfield.

•Greene County, Springfield was recently ranked nationally in the top 5 for economic strength.

•Springfield recently ranked in the top 25 most promising cities to buy a new home.

•Recent area unemployment rates dropped to less than 5.5 percent.

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Coldwell Banker CommercialVanguard, Realtors1334 E Republic Rd.Springfield, MO 65804(417) 887-5950www.cbcvanguard.com

CBSA Springfield, MO

Square Miles 3,010

Population 433,579

Households 180,772



Unemployment 5.40%

RETAIL



CONTACT

MO - Springfield

OFFICE


www.cbcvanguard.com

45

•St. Joseph is located just 35 minutes north of the Kansas City International Airport with access to I-29, a major north- south Interstate Highway providing a corridor between Mexico and Canada and US Hwy 36, a major east-west route thru Northern Missouri.

•This market is located in the heart of the Life Sciences Industry with 5 of the major companies located here.

•Boehringer Ingelheim Vetmedica is still expanding and building a 260,000 SF distribution center.

•The new Eastowne Business Park is complete and offering excellent Industrial building sites. A 50,000 SF shell building was completed in 2012.

•Rosecrans Memorial Airport, which serves civilian and military needs, is located 3 miles west of the city. It boasts one ILS and GPS approach runways and provides capacity for any size aircraft.

•St. Joseph is served by the Union Pacific Railway and the Burlington Northern-Santa Fe Railway to provide direct access to all parts of North America.

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Coldwell Banker CommercialGeneral Properties2700 N. Belt Hwy.St. Joseph, MO 64506(816) 364-2700www.cbcommercialgeneral.com

CBSA St. Joseph, MO-KS

Square Miles 1,661

Population 127,090

Households 51,821



Unemployment 5.10%

RETAIL



CONTACT

MO-KS - St. Joseph

OFFICE

•Over 1,000 Multi-Family units are under construction or planned for 2013 & 2014.

•Residential permits are up 80% over the prior year.

•The energy, agriculture, transportation and medical sectors are driving growth.

•The new 220,000 SF Scheels Sporting Goods store is under construction.

•Office vacancy remains high, and retail lease rates have yet to return to pre-recession prices.

•Demand for income generating investment property has outpaced supply.

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Coldwell Banker CommercialCBS1215 24th St WestBillings, MT 59102(406) 656-2001www.cbcmontana.com

CBSA Billings, MT

Square Miles 4,683

Population 155,673

Households 63,905



Unemployment 4.10%

RETAIL



CONTACT

MT - Billings

OFFICE

www.cbcommercialgeneral.com

www.cbcmontana.com

46

•For the second year, the Small Business Administration had a record year making loans in Nebraska. The amount of loans for business start-up was almost double the nationwide average.

•In 2012, a total of 3,859 homes were sold in Lincoln with a median price of $137,000.

•$364 million is being spent on building the new Pinnacle Bank Arena in Lincoln.

•IBM bought Kenexa and is planning on bringing hundreds more jobs to the area. Coldwell Banker Commercial Thompson Realty Group is the property manager for Kenexa’s Lincoln locations.

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Coldwell Banker CommercialThompson Realty Group620 N 48th St. Suite 101Lincoln, NE 68504(402) 421-7700www.cbcthompson.com

CBSA Lincoln, NE

Square Miles 1,414

Population 299,958

Households 126,751



Unemployment 3.40%

RETAIL



CONTACT

NE - Lincoln

OFFICE

•The View Apartments sold 308 units for $35 million.

•Apple will invest $1 billion in Reno over the decade.

•Rural Nevada is booming as gold prices go up.

•There are 1031 buyers back in the market.

•Shoppers Square Annex was sold for $12.2 Million.

•The 99 Cent Only stores have opened two locations.

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Coldwell Banker CommercialClay & Associates, Inc5011 Meadowood Circle Suite 201Reno, NV 89502(775) 829-5900www.cbcreno.com

CBSA Reno-Sparks, NV

Square Miles 6,606

Population 420,676

Households 164,527



Unemployment 9.60%

RETAIL



CONTACT

NV - Reno/Sparks MSA

OFFICE

www.cbcthompson.com

www.cbcreno.com

47

•Amazon.com moved in to NJ, while Merck is moving its global headquarters out of NJ.

•After static to increasing vacancy rates for most of 2012, Q4 saw vacancy rates drop somewhat. This was mostly attributed to renewing tenants taking additional space.

•Most of the new construction in the area has been build-to-suit for tenants like BASF and Realogy.

•Rental rates in the area saw a steady decline in 2012 as absorption remained flat through out the market.

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Coldwell Banker CommercialFeist & Feist Realty Corp.180 Mount Airy RdBasking Ridge, NJ 07920(908) 696-1500 x10www.feistandfeist.com

CBSA NY-Northern NJ-Long Island

Square Miles 6,726





Unemployment 8.50%

RETAIL



CONTACT

NJ - Central & Northern

OFFICE

•Hess will close their Woodbridge petroleum refinery, laying off 170 employees.

•After the 1st of the year, some investor and employers have become more optimistic about the economy

•Goya foods Inc., the nation’s largest Hispanic-owned food company, is looking to build a 600,000 SF headquarters and Warehouse in Jersey City. New Jersey awarded Goya $82 million in tax breaks to remain in New Jersey.

•New Jersey residential inventory is low, and prices are beginning to increase in several areas of the state.

•Apartments are now the asset of choice with more Apartment projects being approved.

•According to the state of NJ, the Q4 of 2012 showed a decrease in the northern NJ Office vacancy rate to 15.4 percent.

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Coldwell Banker CommercialNRT - Parsippany1 Campus Dr.Parsippany, NJ 07054(973) 407-5480www.cbcworldwide.com


Square Miles 6,726





Unemployment 8.50%

RETAIL



CONTACT

NJ - Northern

OFFICE

Amazon.com

www.feistandfeist.com


48

•Foodtown is closing its Toms River, NJ location because people have decided to shop at lower price stores.

•There has been no recent new construction.

•There are no residental market changes.

•There are more Dollar Stores in the area.

•Senior citizens are watching their money.

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Coldwell Banker CommercialRiviera Realty, Inc.550 Brick Blvd.Brick, NJ 08723(732) 477-6800www.cbcworldwide.com


Square Miles 6,726





Unemployment 8.50%

RETAIL



CONTACT

NJ - Ocean County

OFFICE

•Paeeo del Norte Interchange rebuild was approved by voters.

•New Retail construction is at its highest since 2009.

•Multi-Family effective rentals continue to climb.

•Industrial rents continue to be low due to continued vacancy.

•Downtown Albuquerque is seeing an increase in Retail activity.

•The housing market is increasing.

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Coldwell Banker CommercialLas Colinas4801 Lang Ave. NE Suite 100Albuquerque, NM 87109(505) 897-7227www.lcrealty.com

CBSA Albuquerque, NM

Square Miles 9,288

Population 863,887

Households 333,497



Unemployment 6.70%

RETAIL



CONTACT

NM - Albuquerque

OFFICE


www.lcrealty.com

49

•GlobalFoundries is building a $2 billion R&D Facility on their campus in Malta, NY.

•Whole Foods Market begins construction on its first store in the region at Colonie Center Mall.

•There are plans for a $25 million renovation to a historic building in Schenectady for 155 low income Apartments.

•Shelter Cove, a Mixed-Use project in Colonie, NY, breaks ground. The project will include 200 Apartments, 117 Homes and an Office building.

•Fresh Market plans to open a second store in the region in Saratoga Springs.

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Coldwell Banker CommercialPrime Properties621 Columbia St.Cohoes, NY 12047(518) 785-9000www.coldwellbankeralbany.com

CBSAAlbany- Schenectady- Troy, NY

Square Miles 2,817

Population 859,707

Households 358,803



Unemployment 7.40%

RETAIL



CONTACT

NY - Albany

OFFICE

•In 2012, Travelers Insurance Co. signed the largest Office lease for 76,315 SF in Melville, NY.

•In 2012, Tritech Health Mgmt signed the largest Industrial lease for a 66,565 SF space in Melville, NY.

•In 2012, Fairway Market was the largest retail lease in Westbury, NY.

•Office lease rates are up modestly, and vacancy rates are stable at 10 percent.

•Industrial lease rates are up modestly. Vacancy rates edge up to 5.6 percent from 5.2 percent in Q1.

•Retail lease and vacancy rates are up slightly.

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Coldwell Banker CommercialRosner & Associates3124 Expressway Dr. SIslandia, NY 11749(631) 232-4400www.cbcli.com


Square Miles 6,726





Unemployment 8.50%

RETAIL



CONTACT

NY - Long Island

OFFICE

www.coldwellbankeralbany.com

www.cbcli.com

50

•Largest Office lease signings 2012: Viacom Inc. 1,605,043 SF (Midtown); Citibank, N.A. 490,527 SF (Midtown); Morgan Stanley Smith Barney LLC 1,152,763 SF (Downtown).

•Class A Office market recorded a net absorption of positive 571,333 SF in the Q4; Class B Office market recorded a net absorption of positive 201,996 SF in the Q4; and Class C Office market recorded a net absorption of positive 438,317 SF in the Q4 in 2012.

•The Office vacancy rate in the New York City market decreased to 7.4 percent at the end of the Q4 in 2012.

•Vacant sublease space in the New York City market has increased to 4,944,077 SF in the Q4 of 2012.

•The average Office rental rates at the end of Q4 are Class A at $56.77 SF, Class B at $45.40 SF, and Class C at $39.63 SF.

•Total Office inventory in the New York City market area amounted to 544,800,444 SF in 3,930 buildings at the end of the Q4 of 2012.

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Coldwell Banker CommercialAlliance1430 Broadway 9th FloorNew York, NY 10018(212) 344-0300www.cbcalliance.com


Square Miles 6,726





Unemployment 8.50%

RETAIL



CONTACT

NY - New York City

OFFICE

•Redevelopment of Midtown Tower is underway.

•Yogurt Plant selected Batavia, NY as their new home.

•Construction has begun on 2 hotels as well as 1 additional hotel already approved.

•Downtown Rochester was selected for new MCC Campus.

•The downtown revitalization is gaining momentum.

•There is an abundancy of natural resources and a great quality of life in upstate NY.

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Coldwell Banker CommercialMeridian4498 Main St.Buffalo, NY 14226(585)730-0446www.coldwellbankermeridian.com

CBSA Rochester, NY

Square Miles 2,931


Households 413,826



Unemployment 8.00%

RETAIL



CONTACT

NY - Rochester

OFFICE

www.cbcalliance.com

www.coldwellbankermeridian.com

51

•Chiquita finalizes the relocation of its Corporate HQ to Charlotte.

•Ballantyne in Charlotte has largest speculative Office construction in the country.

•Charlotte market expects 3,500 new Multi-Family units to come on line in 2013.

•Residential sales prices and volume were up in 2012.

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Coldwell Banker CommercialMECA1815 S. Tryon St. Suite ACharlotte, NC 28203(704) 971-2000www.cbcmeca.com

CBSA Charlotte, NC

Square Miles 3,098


Households 683,991



Unemployment 9.40%

RETAIL



CONTACT

NC - Charlotte

OFFICE

•This market is located at intersection of I-85 and US Rte 1 in northeastern NC.

•Awesome 50 minutes to downtown Raleigh, NC.

•Kerr Lake, an 800 mile shoreline lake, is in Vance County.

•This is a great place to locate your business.

•Interstate 85 and US Rte 1 now run thru this location.

•The area is a wonderful place to live, work and play.

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Coldwell Banker CommercialAdvantage7610 Six Forks Road Suite 100Raleigh, NC 27615(919) 863-0200www.cbcadvantage.com

CBSA Henderson, NC

Square Miles 254

Population 43,081

Households 16,458

Household Income Median 38,558


Unemployment 7.50%

RETAIL



CONTACT

NC - Henderson

OFFICE

www.cbcmeca.com

www.cbcadvantage.com

52

•Costco just opened and has spurred Retail development, as well as Multi-Family on the southwest side of the Fargo-Moorhead area.

•Sanford Health (hospital) broke ground on a new Campus as well as a new clinic.

•Multi-Family vacancy rates in the Fargo-Moorhead Metro area are at 4.9 percent.

•Low interest rates and a stable economy have kept the residential market prospering.

•The strong agriculture in the Red River Valley and high commodity prices have helped the area maintain a strong economy.

•The oil boom in the western portion of the state has resulted in investors entering our market.

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Coldwell Banker CommercialFirst Realty2731 12th Ave. S.Fargo, ND 58103(701) 237-3369www.cbcfirstrealty.com

CBSA Fargo, ND-MN

Square Miles 2,810

Population 202,280

Households 86,119



Unemployment 3.60%

RETAIL



CONTACT

ND - Fargo/Moorhead

OFFICE

•According to the On Numbers Economic Index, Cincinnati’s economy is the 15th strongest economy in the nation. The index measures the economic health of 102 major metropolitan areas.

•Ohio ranked second in Site Selection magazine for best business climate in the nation. Ranking was based on responses to the publication’s survey of corporate real estate executives regarding where businesses invest capital.

•Great American Tower at Queen City Square in downtown Cincinnati tied for 4th place for the 2011 Emporis Skyscraper Award with two other buildings out of the 220 skyscrapers completed that year.

•The Hilton Cincinnati Netherland Plaza began a $10 million renovation last month, and it’s expected to be completed by year 2013. The 561-room hotel is Cincinnati’s third largest and last underwent a major renovation in the early 2000s.

•With Phase 1A of The Banks now at capacity, the development team is looking to move forward to the next phase which includes an Office tower at Second and Walnut streets, a Hotel at Freedom Way and Main St., 300 Apartments, and ground level Retail along Vine Street.

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Coldwell Banker CommercialReliant Realty1125 West 8th St. Suite 200Cincinnati, OH 45203(513) 241-8725www.cbcreliantrealty.com

CBSA Cincinnati, OH

Square Miles 4,398


Households 856,456



Unemployment 6.40%

RETAIL



CONTACT

OH - Cincinnati

OFFICE

www.cbcfirstrealty.com

www.cbcreliantrealty.com

53

•Continued expansion at Wright Patterson Air Base.

•Generally a soft market, especially City of Dayton.

•Residential has increased but there has been minimal increase commercially.

•In 2012, the local market was up 16.4 percent.

•There is a gradual improvement in consumer and business confidence..

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Coldwell Banker CommercialHeritage Realtors535 North Main St.Springboro, OH 45066(937) 429-4500www.cbcworldwide.com

CBSA Dayton, OH

Square Miles 1,708

Population 834,458

Households 343,482



Unemployment 6.70%

RETAIL



CONTACT

OH - Dayton

OFFICE

•Devon Energy moved into a 1,800,000 SF tower.

•Pressure on Class A space. Industrial market is picked over and new Retail is being added.

•Apartment and Retail markets are seeing new construction.

•Apartment rate yields are higher in this market than both coasts.

•Unemployment is at its lowest in nation, and there is a continued expansion in energy sector.

•The world now knows about OKC market as well as the NBA team.

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Coldwell Banker CommercialHocker & Associates4323 Classen Blvd. Suite 100Oklahoma City, OK 73118(405) 840-4545www.hocker.com

CBSA Oklahoma City, OK

Square Miles 5,518


Households 500,869



Unemployment 4.60%

RETAIL



CONTACT

OK - Oklahoma City Metro

OFFICE


www.hocker.com

54

•Office vacancy decreased to 10.3 percent, while Retail increased to 5.7 percent and Industrial remained stable at 7.2 percent.

•2012 largest Retail leases include a 60,000 SF Kohl’s and two fitness facilities averaging 35,000 SF each.

•In the Office sector, cap rates increased to an average of 8.43 percent with an average sale price of $168 SF.

•Pace Health moved into 162,216 SF at Columbia Tech Center, and Vestas American Wind Technology moved into 133,258 SF at the Meier & Frank Building.

•There was 2,136,447 SF of Industrial space under construction in the Portland market at the end of Q4 of 2012.

•The 2012 Multi-Family market was very strong for Portland with low vacancies and rising rents encouraging more development.

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Coldwell Banker CommercialMountain West Real Estate960 Liberty St. SE Suite 250Salem, OR 97302(503) 587-4777www.cbcre.com

CBSA

Portland- Vancouver- Beaverton, OR-WA

Square Miles 6,684


Households 878,239



Unemployment 7.50%

RETAIL



CONTACT

OR - Portland

OFFICE

•Veterans Administration leased 26,150 SF for ten years at Salmon Run.

•Hilfiker Square anchored by Trader Joe’s and PetCo sold for a reported $8 million for approximately 45,000 SF in December 2012.

•Two iconic properties, the Statesman Journal Facilities and the Greyhound Bus Depot, in Salem’s Downtown Central Business District are now for sale.

•Over 100 Apartment units are scheduled to be constructed on the former Boise Cascade site in Downtown Salem adjacent to Riverfront Park.

•The State of Oregon has hired a consultant to evaluate current state leases.

•Two large properties within Fairview Industrial Park (the 60,000 SF former Sunwest Management Headquarters and a 150,000 SF location in Cascadia Canyon South) which were foreclosed upon in 2012, recently sold to local investors.

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Coldwell Banker CommercialMountain West Real Estate960 Liberty St. SE Suite 250Salem, OR 97302(503) 587-4777www.cbcre.com

CBSA Salem, OR

Square Miles 1,925

Population 399,131

Households 148,354



Unemployment 8.90%

RETAIL



CONTACT

OR - Salem

OFFICE

www.cbcre.com

www.cbcre.com

55

•Motorcycle USA purchased a 43,000 SF building for their Headquarters.

•Retail vacancy is falling due to increased demand.

•The new Northgate Shopping Center was fully leased at end of construction.

•Developers have started to buy Land for residential development.

•The economic optimism has increased the CRE activity.

•The southern Oregon area has similar rainfall amounts with San Francisco.

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Coldwell Banker CommercialNW1744 East McAndrews Rd. Suite JMedford, OR 97504(541) 779-4466www.cbcommercialnw.com

CBSA Medford, OR

Square Miles 2,785

Population 201,887

Households 80,376



Unemployment 9.50%

RETAIL



CONTACT

OR - Southern

OFFICE

•The Office vacancy rate is lower than national average.

•Retail vacancy rate is also lower than national average.

•Multi-family vacancy rate is lower than national average.

•Office, Retail and Multi-Family developments are strong in the market.

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Coldwell Banker CommercialNRT - Pittsburgh9600 Perry Hwy. Suite 200Pittsburgh, PA 15237(412) 548-1064www.cbcnrtpittsburgh.com

CBSA Pittsburgh, PA

Square Miles 5,280


Households 991,049



Unemployment 7.20%

RETAIL



CONTACT

PA - Pittsburgh

OFFICE

www.cbcommercialnw.com

www.cbcnrtpittsburgh.com

56

•Office vacancy rates for secondary and tertiary areas remain at all time high levels.

•Office vacancy is on the rise in remote areas to higher density business centers. Employees want convenient access to Retail and food services.

•Though multiple new construction sites are in the works, Commercial and Retail sectors are struggling to lure tenants as well as dealing with downward price pressure.

•Sellers are coming to a realization that the Commercial property market will recover very slowly and that rental rates will take many years to return to 2005 levels.

•Bucks County is still a haven for company relocation out of Philadelphia and New Jersey seeking tax relief.

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Coldwell Banker CommercialCBH1094 Second St. PikeRichboro, PA 18954(215) 357-2880www.cbhcommercial.com

CBSA

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Square Miles 4,630





Unemployment 8.10%

RETAIL



CONTACT

PA - Southeastern

OFFICE

•Southern Season announced plans to open a store in Charleston early summer 2013.

•Boeing is expanding its real estate holdings in North Charleston, SC through a deal to buy three Office buildings, totaling 178,000 SF on about 20 acres next to its existing 787 campus.

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Coldwell Banker CommercialAtlantic International, Inc.3506 W. Montague Ave. Suite 200Charleston, SC 29418(843) 744-9877www.cbcatlantic.com

CBSA

Charleston-North Charleston, SC

Square Miles 2,591

Population 665,272

Households 262,007



Unemployment 7.10%

RETAIL



CONTACT

SC - Charleston

OFFICE

www.cbhcommercial.com

www.cbcatlantic.com

57

•The first Whole Foods in Columbia has moved into a 75,000 SF location in Cross Hill Market.

•Chicago Based Core Campus purchased the vacant 435,000 SF Palmetto Center on Main St. and is planning on turning it into a 850 student dorm.

•New construction deliveries were very weak in 2012 with no significant Office or Retail space under construction. There is 1.2 million SF of Industrial space under construction, set to deliver in 2013.

•Residential sales were up 7 percent plus, over the worst its ever been.

•University of South Carolina is expanding with new buildings in the athletics village. A new 260,000 SF Darla Moore Business School is under construction, and a new Law School is to begin construction within the year.

•Innovista, a research arm of the University of South Carolina, connects entrepreneurs, business and industry with the resources, talent and University inspired innovations to create greater success for all.

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Coldwell Banker CommercialUnited, Realtors1711 Gervais St. Suite 300Columbia, SC 29201(803)799-4663www.cbccarolinas.com

CBSA Columbia, SC

Square Miles 3,701

Population 751,082

Households 300,796



Unemployment 7.60%

RETAIL



CONTACT

SC - Columbia

OFFICE

•Greenville is rated #1 in the nation by Site Selection magazine for both new and expanding international firms in last decade.

•Plans, approvals and financing continue apace in connection with the SC Inland Port. It’ll link Greer with Charleston Harbor via Southern rail, a major economic boost for the upstate.

•Nearby private tracts and GSP International owned tracts, totaling 1,500 acres, are being prepared for development in support of the 150 acre inland port development.

•BMW opens new line to produce the X4. The number one luxury auto brand in America now directly employs 7,000 associates and is producing nearly 1,000 vehicles per day at the Greer based plant.

•Clemson University’s MBA program and the Masters in Real Estate program are both now based in downtown Greenville.

•The new Office construction at the One Building is almost complete. Tenants to the building will include Haynsworth Law Firm and Certus Bank. Apartment construction is also a hot sector with several planned developments offering up to 750 new mid-priced units.

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Coldwell Banker CommercialCaine117 Williams St.Greenville, SC 29601(864) 250-2800www.cbccaine.com

CBSAGreenville- Mauldin- Easley, SC

Square Miles 2,002

Population 644,419

Households 263,044



Unemployment 7.10%

RETAIL



CONTACT

SC - Greenville

OFFICE

www.cbccarolinas.com

www.cbccaine.com

58

•The SC Ports Authority announced a $24 million, 40+ acre development of an Inland Port in Greer. The land will abut the Greenville Spartanburg International Airport. Norfolk Southern will operate trains serving the facility.

•American Credit Acceptance continues to dominate the downtown presence by bringing 900+ jobs to the city and occupying over 100,000 SF of Class A Office space.

•Amazon completed and moved into a 1,000,000 SF fulfillment center on 240 acres at the intersection of John Dodd Rd. and I-26. The new center could provide over 1,000 new jobs during peak seasons.

•BMW continues to provide an economic boost to the upstate by announcing a $1 Billion expansion that will create another 1,000 jobs by 2014. The expansion will allow BMW to build the new X4 crossover at the Spartanburg facility.

•The Edward Via College of Osteopathic Medicine Carolina campus continues to bring in 150 new medical students each year. The growth of the school has created an economic boost to a dilapidated neighborhood and inspired a $2.7m Magnolia Lofts consisting of 27 Apartments opening spring of 2013.

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Coldwell Banker CommercialCaine340 E Main St. Suite 100Spartanburg, SC 29302(864) 342-2322www.cbccaine.com

CBSAGreenville- Mauldin- Easley, SC

Square Miles 2,002

Population 644,419

Households 263,044



Unemployment 7.10%

RETAIL



CONTACT

SC - Spartanburg

OFFICE

•Amazon is now operational with over 2,000 new jobs created in our area.

•Volkswagen’s production is beyond expectation. It is operating two shifts and looking to expand.

•Whirlpool has moved into its new 1.4 million SF green facility with production lines expecting to be at full capacity by year end.

•Wacker Chemie AG, a Germany-based company, is constructing a new facility in Bradley County with an estimated capital investment of $1 billion and initial employment of approximately 500 highly skilled workers. The new integrated site will be Wacker’s first polysilicon production outside Germany.

•Industrial sales and demand have increased over the last year, and Retail activity remains somewhat flat.

•The Cleveland/Bradley County area is home to 12 Fortune 500 companies. This market is positioned for tremendous growth in the next 5 years. In addition to the new manufacturing facilities, many supporting suppliers are looking to relocate to the area.

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Coldwell Banker CommercialHamilton & Associates2650 Peerless Rd.Cleveland, TN 37312(423) 476-5535www.hamiltoncommercial.com

CBSA Chattanooga, TN-GA

Square Miles 2,089

Population 526,490

Households 211,265



Unemployment 7.20%

RETAIL



CONTACT

TN - Chattanooga Metro

OFFICE

www.cbccaine.com

www.hamiltoncommercial.com

59

•Tennova Healthcare has optioned 110 acres in West Knoxville and is considering building a new hospital and healthcare campus.

•The economy is improving, causing vacancy rates for most sectors to either decline or remain steady.

•A new $119,000,000 proton therapy center is being built in the Dowell Springs Business Park.

•The residential market continues to improve with a 23 percent increase of sold units for 2012 vs. 2011.

•Commercial real estate seems to be moving again with an up-tick in sales and leasing all across the board.

•In November, the Brookings Institution announced Knoxville as one of only three U.S. Metro areas that is experiencing economic recovery. Knoxville is joining Dallas and Pittsburgh in this elite group.

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Coldwell Banker CommercialWallace & Wallace, Realtors124 N. Winston Rd.Knoxville, TN 37919(865) 690-1111www.cbcww.com

CBSA Knoxville, TN

Square Miles 1,857

Population 702,994

Households 297,456



Unemployment 6.00%

RETAIL



CONTACT

TN - East

OFFICE

•The new Nashville Convention Center will open Summer 2013, resulting in a number of new Hotels that are under construction or are planned.

•Downtown Nashville and the Cool Springs Area are experiencing new Multi-Family development.

•Nissan and General Motors are adding employees in the Smyrna and Spring Hill locations due to increased demand for their models.

•Investors have acquired a number of Rental Communities.

•Major Office headquarters for Hospital Corporation of America and Tractor Supply Company are underway in Downtown and Brentwood.

•Mixed-Use development continues to have strong interest led by a proposed 900,000 SF development in Brentwood.

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Coldwell Banker CommercialProfessionals114 Cool Springs Blvd.Franklin, TN 37067(615) 465-3737www.cbcworldwide.com

CBSA

Nashville-Davidson-Murfreesboro-Franklin, TN

Square Miles 5,687


Households 635,077



Unemployment 6.10%

RETAIL



CONTACT

TN - Nashville

OFFICE

www.cbcww.com


60

•Healthy surge of commercial activity at the end of 2012 headed into 2013.

•United Supermarket breaks ground on 19 acre supermarket, shop space and pad sites.

•There is an increased national and regional Retail interest in Amarillo.

•Residential market up 13 percent from 2011 to 2012, and prices up near 5 percent.

•Job creation is up 4,200 in 2012.

•The Residential lot shortage challenges home builders and Apartments are essentially full.

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Coldwell Banker CommercialFirst Equity, Realtors2101 S. CoulterAmarillo, TX 79106(806) 354-3500www.cbcamarillo.com

CBSA Amarillo, TX

Square Miles 3,660

Population 247,964

Households 97,166



Unemployment 4.10%

RETAIL



CONTACT

TX - Amarillo

OFFICE

•For the third consecutive year, Austin takes the top spot as one of the fastest growing cities.

•A real estate industry tracking website has ranked Austin’s housing market 5th among the 10 healthiest markets for 2013.

•The Business Journal recently named Austin the most “connected city” in America based on its use of IT to manage the electric power grid. These cities typically have higher growth rates, lower unemployment and higher Office occupancy.

•The largest gain in employment was in the Professional and Business Services.

•A recently formed venture paid $859 million to buy an eight-building, 3 million SF portfolio of Office buildings located in the Central Business District and suburbs.

•A joint venture has sold the 172,637 SF Capitol Tower Office building, a Class A tower located in Austin, for $49 million which included a comprehensive $10 million renovation program following its purchase in 2006.

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Coldwell Banker CommercialUnited, Realtors2121 Sage Rd. Suite 150Houston, TX 77056(713) 840-5000www.cbcunitedrealtors.com

CBSA Austin-Round Rock, TX

Square Miles 4,224


Households 665,762



Unemployment 5.00%

RETAIL



CONTACT

TX - Austin

OFFICE

www.cbcamarillo.com

www.cbcunitedrealtors.com

61

•College Station, TX was recently recognized by Forbes as the 6th “Best Small Place for Business and Careers” and ranked 4th in the area for finding a job.

•Residential is looking very robust with year over year sales volume increased by 20 percent and with appreciation up 4 percent across the board.

•Price is up in Retail and vacancy is down, while Office remains flat and Industrial vacancies are down and prices are slightly up.

•Multi-Family is now stable after 3,500 Class A bed constructions in 2012 with a move-in date estimated to be online for August 2013.

•Hotels and motels are now in high demand with TX A&M becoming a member of SEC.

•College Station just announced a new 72 Bed Mental Health Rehabilitation Center, proving that Medical is very strong.

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CBSACollege Station-Bryan, TX

Square Miles 2,106

Population 214,971

Households 88,655



Unemployment 5.00%

RETAIL



CONTACT

TX - Bryan/College Station

OFFICE

•The El Paso economy continues to grow during the economic recession, thanks to the growth of Ft. Bliss and its $4.8 Billion in construction projects throughout the past 3 years and the influx of over 60,000 soldiers that is expected to increase the El Paso and surrounding area population by 144,000 people by 2025.

•The Multi-Family sector continues to experience strong demand characteristics with occupancy rates pushing to 96% and many of the newer developments enjoying over 98% occupancy. With the new units completed in 2012 and those currently under construction, occupancy is expected to dip slightly as developers continue to build in order to meet the shortage of units attributed to the growth of Ft. Bliss.

•Some major retail corridors are experiencing vacancy rates below 5% which has helped push rents upward, and some developers have broken ground on new centers. Also, breaking ground in 2012 is the 600,000 plus square foot Fountains at Farah retail center that is scheduled to be completed by November 2013.

•The Office sector remains relatively stable with no real significant change in 2012. However, the CBD Submarket has experienced some leasing activity.

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Coldwell Banker CommercialLewis Realty Group, Inc.7338 Remcon Circle Suite 100El Paso, TX 79912(915) 544-5205www.cbclewisrealtygroup.com

CBSA El Paso, TX

Square Miles 1,013

Population 758,030

Households 236,575



Unemployment 8.40%

RETAIL



CONTACT

TX - El Paso

OFFICE


www.cbclewisrealtygroup.com

62

•Houston was ranked as one of the best cities for your career in 2013 by Yahoo! and the coolest city in the nation by Forbes.

•Houston area ranks sixth among the nation’s top 100 metropolitan areas in terms of economic recovery and 5th in employment recovery.

•A recent report projects that Houston will have the healthiest housing market in the country in 2013.

•Construction has been completed on a $16.5 million renovation of the 65,000 SF Building 12 at the NASA Johnson Space Center located in Houston. Features will include lighting controls, wind turbines, high-efficiency plumbing fixtures and roof garden.

•Phillips 66 has plans to build its new global Headquarters. The campus will include Office space, conference capabilities, training facilities and wellness and dining options.

•The area’s Greenway Plaza property is LEED Gold certified with 84.5 percent already leased and has sold for $124.5 million.

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CBSAHouston-Sugar Land-Baytown, TX

Square Miles 8,928





Unemployment 6.00%

RETAIL



CONTACT

TX - Houston

OFFICE

•Lubbock’s unemployment rate has decreased significantly over the past year, dropping from 5.4 percent to 4.7 percent.

•Lubbock ranked 20th on Milken Institute’s 2012 Top 25 Best Performing Cities which is based on jobs created and sustained in large metro areas.

•Lubbock’s employment base grew 3.7 percent and was the 9th fastest in the nation.

•A study released by Pitney Bowes projects that Lubbock will expand by 5,700 households from 2012 to 2017, a growth rate of 5.3 percent which makes Lubbock the 31st fastest growing metropolitan area in the U.S.

•The Lubbock Economic Index was up a remarkable 7.2 percent from November of 2011.

•November’s 2012 Year-to-Date housing sales are up by nearly 18 percent compared to November’s 2011 Year-to-Date with prices up a healthy 3.6 percent over the same period.

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Coldwell Banker CommercialRick Canup, Realtors4924 S. Loop 289Lubbock, TX 79414(806) 793-0888www.cbclubbock.com

CBSA Lubbock, TX

Square Miles 1,799

Population 279,239

Households 111,087



Unemployment 4.70%

RETAIL



CONTACT

TX - Lubbock

OFFICE


www.cbclubbock.com

63

•Cinemark announces two locations in Edinburg, TX and Pharr, TX.

•The Rio Grande Valley is still experiencing rapid Retail growth.

•REO Sales continue at a steady pace allowing for new business opportunities.

•New franchises continue to open their doors across the Rio Grande Valley.

•Office occupancy continues to rise as unemployment remains low.

•7-Eleven announced the buy out of Speedy Stop and plans to have approximately 7 locations in the Rio Grande Valley.

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Coldwell Banker CommercialLa Mansion508 E. DoveMcAllen, TX 78504(956) 631-1322www.cbclamansion.com

CBSAMcAllen-Edinburg-Mission, TX

Square Miles 1,570

Population 751,544

Households 204,655



Unemployment 10.30%

RETAIL



CONTACT

TX - Rio Grande Valley

OFFICE

•All oilfield service companies (Halliburton, Weatherford, and Baker Huges), continue to have an increase in activities, boosting employment.

•Net absorption continues to improve.

•Net absorption has occurred in all sectors, especially Retail and Office.

•The residential market continues to expand. The new and existing sales are returning to 2008 levels, and prices are continuing to rise.

•There is a return of private sector construction, and capital is more available to investors and users.

•Population and employment continue to grow in TX as well as San Antonio’s continuation to outpace most of the Country.

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Coldwell Banker CommercialAlamo City18756 Stone Oak Pkwy. Suite 202San Antonio, TX 78258(210) 483-6250www.cbcalamo.com

CBSA San Antonio, TX

Square Miles 7,340


Households 749,986



Unemployment 5.70%

RETAIL



CONTACT

TX - South/Central

OFFICE

www.cbclamansion.com

www.cbcalamo.com

64

•17 story Edison Plaza becomes the first Class A building in southeast TX after extensive renovations.

•Medical facilities continue to locate and grow with surgical centers, hospice and urgent care.

•Energy sector remains strong with news of refinery and chemical plant expansions, new pipeline facilities and industrial services.

•Retail centers in high profile areas do not have enough available space to service the demand.

•Most new construction is limited to medical facilities and services, energy related industry and tax credit Multi-Family housing.

•Cities and counties have established a cooperative effort in southeast TX to procure economic development for the entire region.

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Coldwell Banker CommercialArnold and AssociatesOne Acadiana Ct.Beaumont, TX 77706(409) 833-5055www.cbcaaa.com

CBSA Beaumont, TX

Square Miles 2,154

Population 379,235

Households 147,015



Unemployment 10.00%

RETAIL



CONTACT

TX - Southeast

OFFICE

•Wal-Mart begins construction on the second supercenter.

•Five hundred new hotel rooms are under construction.

•Twin Pines Nursing Home began their construction.

•Petro-Chemical Industry continues its plant expansions.

•Port of Victoria has has an increase in activity.

•Kirkland’s, Beef O’Brady’s and Twin Liquors are all open for business.

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Coldwell Banker CommercialThe Ron Brown Company2505 N NavarroVictoria, TX 77901(361) 573-6191www.cbcworldwide.com

CBSA Victoria, TX

Square Miles 2,248

Population 115,980

Households 41,805



Unemployment 5.20%

RETAIL



CONTACT

TX - Victoria

OFFICE

www.cbcaaa.com


65

•Bob Mills Furniture purchased the former Roomstore facility and will open a new Retail location and distribution center for central TX.

•Increased Retail activity has absorbed the majority of the “big box” Retail space.

•The first Aldi Food Market in Waco has completed the construction of their new grocery store.

•Waco ISD sold the former University High School property to a developer out of Dallas, TX.

•Baylor University completed construction of the BRIC (Baylor Research and Innovation Collaborative), and tenants are now applying for space within the building.

Vacancy n

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Coldwell Banker CommercialJim Stewart, Realtors500 N. Valley Mills Dr.Waco, TX 76710(254) 776-0000www.cbc-waco.com

CBSA Waco, TX

Square Miles 1,042

Population 234,783

Households 91,531



Unemployment 5.60%

RETAIL



CONTACT

TX - Waco/McLennan County

OFFICE

•Utah has one of the best economies in the country. From 2009 to 2012, Utah’s unemployment rate has dropped from 7.5 percent down to 5.2 percent, becoming one of the lowest rates nationally. In comparison, the national unemployment rate reached a high of 10 percent and has decreased to 7.9 percent.

•Utah’s commercial real estate market is showing continued signs of a moderate recovery. Pockets of Salt Lake are seeing net absorption increases, vacancy rates decreasing, and a more positive outlook on the future which in turn is driving new construction.

•In 2012, the state of Utah was a bright spot for the U.S. as it relates to Retail development. To highlight a few major achievements, Utah had the only regional mall in the country open in March with City Creek Center in downtown Salt Lake City.

•One of the most frequently cited indicators of overall economic health is housing. According to Donna Pozzuoli, President of the Salt Lake Board of Realtors, “Salt Lake City ranks among the top 25 major U.S. cities showing the biggest home price increases.”

•Utah is pro-business and a leader in economic growth.

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Coldwell Banker CommercialNRT - Salt Lake City6550 South Millrock Dr. Suite 200Salt Lake City, UT 84121(801) 947-8300www.coldwellutah.com

CBSA Salt Lake City, UT

Square Miles 9,539


Households 376,706



Unemployment 4.90%

RETAIL



CONTACT

UT - Salt Lake Market

OFFICE

www.cbc

-waco.com

www.coldwellutah.com

66

•Year to date leasing activity for Industrial increased 70 percent in 2012. This is mainly due to some larger deals such as Regency Polymer Materials leasing 48,320 SF and relocating from Maryland to the region.

•The population is climbing in the area. It is expected that the region’s population will increase 29 percent by 2020 according to the Weldon Cooper Center for Public Service at the University of Virginia.

•The Quantico Corporate Center was the leader in office leasing efforts with the following leases signed: SAIC with 26,175 SF; Regus with 13,500 SF; TrustComm Inc. with 13,000 SF; and Computer Sciences Corporation with 9,957 SF. Building 4 is now 100% occupied, and pre-leasing on Building 5 has begun.

•Several larger retailers moved into the region. The retailers are: And That with a 42,000 SF space; Buy Buy Baby with a 36,000 SF space; Barnes & Noble with a 24,000 SF space; and Home Goods with a 22,500 SF location.

•In two years, the City of Fredericksburg’s population grew 7.3 percent and was well above the state average of just 2.3 percent. The growth has been attributed to jobs relocating.

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Vacancy N/A

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Rental Rates N/A

Coldwell Banker CommercialElite1201 Central Park Blvd.Fredericksburg, VA 22401(540) 659-2141www.cbcworldwide.com

CBSA

Washington-Arlington-Alexandria, DC-VA-MD-WV

Square Miles 5,627





Unemployment 5.30%

RETAIL



CONTACT

VA - Fredericksburg Region

OFFICE

•Fresh Market began construction on a new store scheduled to open fall of 2013.

•Vacancy rates are continuing to slowly fall in all sectors due to several smaller tenants branching out to the Central VA area.

•S.J. Collins began construction on a 51,000 SF shopping center anchored by The Fresh Market.

•Liberty University announced the construction of a 6,000 unit student housing project which caused several Multi-Family developers to put proposed developments on hold.

•2010 Census shows that the overall population of Lynchburg has increased by 2.2 percent with Liberty University’s growth being a contributing factor.

•New construction for single family homes seems to be steadily rising as interest rates remain low.

Vacancy n

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Coldwell Banker CommercialRead & Co.101 Annjo Ct.Forest, VA 24551(434) 455-2285www.cbcread.com

CBSA Lynchburg, VA

Square Miles 2,124

Population 248,585

Households 100,680



Unemployment 6.00%

RETAIL



CONTACT

VA - Lynchburg

OFFICE


www.cbcread.com

67

•REIS reports a decline in vacancy for Office, Retail & Industrial in Hampton Roads.

•James City County Economic Authority lists six Fortune 500 Companies that are located in Williamsburg: Ball Metal, Caterpillar, Northrop Grumman, Owen-Illinois, SmithField Foods and Walmart Import Distribution Centers.

•At 50-feet, the Port of Virginia offers the deepest shipping channels on the U.S. East Coast, which is a significant factor for the growth of the Industrial markets of Chesapeake, Suffolk, Norfolk, Portsmouth, Newport News, Hampton and Williamsburg.

•Hotel occupancy rates in Hampton Roads MSA saw a third straight year of gains in 2012.

•Riverside Doctors’ Hospital is scheduled to open Q1 of 2013. The facility will sit on a beautifully landscaped campus at the intersection of Route 199 and Route 60 in Williamsburg. The campus is over 25 acres and is a component of the 380+ acre multi-use development named Quarterpath.

Vacancy p

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Vacancy N/A

Absorption N/A

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Coldwell Banker CommercialBrooks Real Estate4071 Ironbound Rd. Suite 100Williamsburg, VA 23188(757) 585-2959www.cbcbrooks.com

CBSA

Virginia Beach-Norfolk-Newport News, VA-NC

Square Miles 2,628


Households 648,009



Unemployment 6.00%

RETAIL



CONTACT

VA - Williamsburg/Hampton Roads

OFFICE

•Overall, Puget Sound employment outlook is very positive. Amazon, Boeing, Microsoft and many other employers are in expansion mode.

•The Multi-Family sector is still very strong. Rental rates continue to rise along with sale prices. The question is how long can this continue.

•Retail developers and tenants are starting to dip their toes back into the water. There have been some speculative Land purchases in 2012 and a number of national retailers are looking at this market.

•Residential prices increased in 2012 and sales continue to improve.

•The aerospace industry continues to grow. Coldwell Banker Commercial Danforth just closed on a Land transaction with Orion Industries and will consult with them on the construction of a 100K SF facility.

•Institutional investment sales are trading at extremely low CAP rates.

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Coldwell Banker CommercialDanforth & Associates33313 First Way SouthFederal Way, WA 98003(253) 874-3200www.cbcdanforth.com

CBSASeattle-Tacoma Bellevue, WA

Square Miles 5,894





Unemployment 6.70%

RETAIL



CONTACT

WA - King County

OFFICE

www.cbcbrooks.com

www.cbcdanforth.com

68

•The volume of commercially zoned Land sales is increasing at a steady pace, leading into new development activity. Among the largest commercial Land sales was a 16 acre parcel brokered by our firm.

•The commercial market is gradually improving in all sectors. Absorption is up followed by cautious increases in rental rates.

•Owner and user purchases are providing the strongest demand for moderately priced Office buildings in the $3,000,000 price range.

•The largest leases have been in the 20,000 SF range both in the Industrial and Retail sectors.

•Apartment sales have been strong with CAP Rates for Class “B” properties being in the 6.5 percent to 7 percent range. Several new Apartment projects are currently under development.

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Coldwell Banker CommercialJenkins & Associates300 West 15th St. Suite 201Vancouver, WA 98660(360) 699-4494www.cbcworldwidenw.com

CBSA

Portland- Vancouver- Beaverton, OR-WA

Square Miles 6,684


Households 878,239



Unemployment 7.50%

RETAIL



CONTACT

WA - Southwest

OFFICE

•Newer Class A Office continues to struggle to hold up rates, while there is an increase of internal migration to Class B/C Offices. This will continue until the market purges remaining distressed projects. Vacancies are still high at 16.5 percent and expected to remain flat or with nominal improvement over the next several years.

•An increase in Industrial space, evident by build-to-suit distribution centers like the 1 million SF Amazon deal in DuPont. Unprecedented low SBA rates are driving owner/user activity in manufacturing and aerospace acquisitions. Overall vacancy in Tacoma submarket is 5.6%, with 724,000 net positive absorption. Several requirements over 500k SF should make for a strong year in 2013.

•Apartment vacancies are down to 4.1 percent, and submarket statistics for Class B/C Apartments are hovering at a staggering 1.8 percent. This means rents are up 2.4 percent in 2012 and forecasted at over a 4 percent average growth for 2013, 2014 and 2015. Garden style Apartments are still the darling investments of suburbia.

Vacancy n

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Coldwell Banker CommercialOffenbecher929 East Main Suite 320Puyallup, WA 98372(253) 840-5574www.offenbecher.com

CBSASeattle- Tacoma- Bellevue, WA

Square Miles 5,894





Unemployment 6.70%

RETAIL



CONTACT

WA - Tacoma

OFFICE

www.cbcworldwidenw.com

www.offenbecher.com

69

•Miniature Precision Components Inc. leased 350,000 SF in a 700,000 SF building in Janesville. Beloit saw major investments in plant improvements and expansion by Kerry Ingredients, Kettle (Diamond Foods) and Dupont.

•The Industrial sector finished stronger with a vacancy percentage less than 8 percent, down from a Q2 12 percent.

•A 22,000 SF Innovation Center providing space for startup companies and emerging existing companies was completed in Janesville.

•The residential market finished strong with an 18 percent increase in transactions, with average home values up 17 percent.

•Buyers are beginning to emerge, and the market is seeing an uptick in interest from national retailers in the Janesville/Beloit market. Quaker Steak and Lube and Bob Evans both announced projects at the end of the Q4, and several other national brands have LOI’s on vacant sites.

•The Janesville/Beloit area is at the epicenter of the Accelerators in Medicine Corridor. Two companies have announced their intent to build facilities to supply the medical isotope Moly-99.

Vacancy n

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Coldwell Banker CommercialMcGuire Mears & Associates400 Midland Ct. Suite 101Janesville, WI 53546(608) 752-6325www.mcguiremears.com

CBSA Janesville, WI

Square Miles 720

Population 160,224

Households 63,135



Unemployment 8.00%

RETAIL



CONTACT

WI - Janesville/Beloit

OFFICE

•Spectrum Brands is staying local and will build a new headquarters.

•The University of Wisconsin continues new construction.

•The $120 million renovation and expansion of Edgewater Hotel begins.

•Promega, which makes 2,000 molecular-based products for medical diagnostic use, is constructing a 260,000 SF building on its Fitchburg campus. The $110 million facility is designed to be in synch with standards in the global regulatory bodies.

•Epic Systems, the international electronic medical records company, is adding to its sprawling Verona campus, this phase known as the “Farm Campus”. This addition to Epic will include 1,000 offices, a parking ramp for 1,000 vehicles, a huge auditorium and a field of energy generating solar panels.

Vacancy n

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Coldwell Banker CommercialSuccess7609 Elmwood Ave. Suite 102Middleton, WI 53562(608) 662-1110www.cbcommercialsuccess.com

CBSA Madison, WI

Square Miles 2,738

Population 574,245

Households 242,725



Unemployment 4.60%

RETAIL



CONTACT

WI - Madison, Greater

OFFICE

www.mcguiremears.com

www.cbcommercialsuccess.com

70

•Strong technological business investments in Cheyenne throughout 2012 with more expected in 2013.

•Multiple Microsoft investments into Cheyenne area include two new $112 million “Cloud” data centers as well as a “green” fuel cell-powered data center designed to run on biogas generated from a local water treatment plant.

•NCAR (National Center for Atmospheric Research) Super Computer, one of the top 20 super computers in the world, began operations in 2012.

•Swan Ranch Industrial Park development continues to bring regional and national oil and gas operators to the region. Industrial absorption in the area beginning to be dominated by oil and gas.

•Residential values continue to rise with overall sales and values at their highest levels since 2007. Several large Apartment and Multi-Family developments are scheduled to break ground in 2013.

Vacancy n

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Coldwell Banker CommercialThe Property Exchange255 Storey Blvd.Cheyenne, WY 82009(307) 632-6481www.WyomingCommercialBrokers.com

CBSA Cheyenne, WY

Square Miles 2,686

Population 89,439

Households 36,986



Unemployment 5.60%

RETAIL



CONTACT

WY - Cheyenne Metro

OFFICE

International Markets

www.WyomingCommercialBrokers.com

71

•A showcase building in the City of Hamilton, located at 141 Front St., was completed in September 2010 and is currently at 80 percent occupancy.

•Vacancy level in secondary space has increased due to high level of new space on the market at affordable prices.

•Waterloo House, approximately 20,000 SF of premier waterfront property in Hamilton, is on track with completion expected in 2013 with 90 percent already preleased.

•The inventory of commercial properties listed islandwide for sale has grown tremendously in the last couple years to record levels of $90 million.

•Demand has increased marginally over 2011 levels, but residential transactions are approximately 70 percent down from 2008.

•As an island destination, foreigners often look to purchase in Bermuda. It is expected that government will soon relax purchasing requirements for foreigners.

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Vacancy N/A

Absorption N/A

Rental Rates N/A

Coldwell Banker CommercialBermuda Realty11 Par la Ville Rd.Hamilton, Bermuda HM HX(441) 292-1793www.bermudacommercial.com

CBSA Bermuda

Square Miles 21

Population 64,268

Households 34,110

Household Income Median $69,183 USD


Unemployment 6.00%

RETAIL



CONTACT

Bermuda

OFFICE

•The Real Estate Funds in 2012 achieved an average return of 40 percent per annual.

•According to the index FipeZap, property used appreciated 13.7 percent per annual.

•New developed properties increased 31 percent in 2012.

•There was a slowdown in deliveries of new buildings due to lack of manpower and finishing materials.

•The granting of mortgage loans in 2013 will increase 15 percent.

•Real estate loans quadrupled from 2008 to 2012.

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Coldwell Banker CommercialBrasil - SPAv. Paulista 2518 cj. 82São Paulo, SP, Brazil 01 310-300(+55) (11) 4508-1018www.coldwellbankercommercial.com.br

CBSA São Paulo City

Square Miles 3,070


Households N/A

Household Income Median R$39.450

Employees (Total) N/A

Unemployment 10.50%

RETAIL



CONTACT

Brazil - São Paulo City

OFFICE

www.bermudacommercial.com

www.coldwellbankercommercial.com.br

72

•Aurora is home to the Magna International Headquarters and State Farm’s national head offices.

•Aurora is a highly affluent town about 20kms north of Toronto.

•New construction currently resides on the east and west sides of Leslie Street.

•Resale home prices continue to rise in high demand in Aurora.

•Aurora’s population is expected to reach 70,000 by 2020.

•Aurora’s twin city is Leksand, Sweden.

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Coldwell Banker CommercialThe Real Estate Centre2162 Major Mackenzie Dr.Vaughan, Ontario L6A 1P7(905) 737-5700www.CBTRECCommercial.com

CBSA Aurora, Ontario

Square Miles 19

Population 53,203

Households 16,000



Unemployment 1.20%

RETAIL



CONTACT

Canada - Aurora, Ontario

OFFICE

•IBM opened a Smart Data Centre in Barrie.

•Low tax rates and high tech employment are keeping vacancy rates low.

•The Barrie population is one of the fastest growing in Canada.

•The housing market remains strong in Barrie.

•Greenspace just outside city limits has been approved for development.

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CBSA Barrie, Ontario

Square Miles 30

Population 136,063

Households 51,305



Unemployment 4.26%

RETAIL



CONTACT

Canada - Barrie, Ontario

OFFICE

www.CBTRECCommercial.com


73

•There was more than 1.8 million SF of positive absorption in Calgary’s downtown core in 2012. This is down from 2.8 million SF absorption.

•More than a million SF of new downtown Office space was added in 2012, all of which is fully leased.

•Two new towers, currently under construction, will add 1.7 million SF to the downtown inventory and are projected to be completed in 2014 and 2016. Much of the space has been pre-leased.

•Five additional towers totaling over 2.75 million SF have applied for development or re-development permits.

•Two major downtown tenants have announced a move out of the downtown core to suburban locations. This will free up more than 800,000 SF of a Class A Office space in 2014.

Vacancy q

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Vacancy N/A

Absorption N/A

Rental Rates N/A

Coldwell Banker CommercialWest Real Estate1150, 1122 4th St. SWCalgary, Alberta T2R 1M1(403) 984-9877www.cbcwestrealestate.ca

CBSA Calgary, Alberta

Square Miles 280


Households N/A



Unemployment 4.20%

RETAIL



CONTACT

Canada - Calgary, Alberta

OFFICE

•New Hospital construction starting 2013 valued at $550,000,000.

•A new $28,000,000 electricity sub-station will be located at the north of Buckey Bay.

•Among the changes in the area are the new 142,000 SF Costco, new Value Village, and the renovation and expansion of both Target and Walmart Supercenters.

•Recently built was a new Crown Isle Shopping Centre with anchor tenant Thrifty Foods, CIBC.

•$156,000,000 worth of permits were taken out in 2012.

•Phase 1 (69 lots) of a new 300 lot residential subdivision is selling. General Housing rates started down, but are stable.

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Coldwell Banker CommercialSlegg Realty350 17th St.Courtenay, British Columbia V9N 1Y4(250) 898-8790www.cbcworldwide.com

CBSA Courtenay, BC

Square Miles 1,724

Population 66,385

Households 25,819



Unemployment 5.80%

RETAIL



CONTACT

Canada - Courtenay/Vancouver Island, BC

OFFICE

www.cbcwestrealestate.ca


74

•Located just outside Barrie, Innisfil is becoming a high demand community to live in.

•Innisfil’s commercial core is being revitalized to suit new business.

•Innisfil new home construction is growing by an estimated 6.1 percent annually.

•Located on Lake Simcoe, Cottage Lakefront properties are in high demand.

•The area is host to large amounts of rural areas with loads of potential.

•The Georgian Downs Harness Racetrack is located Along the highway in Innisfil.

Vacancy n

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CBSA Innisfil, Ontario

Square Miles 109

Population 32,727

Households 13,797



Unemployment 4.30%

RETAIL



CONTACT

Canada - Innisfil, Ontario

OFFICE

•Target has moved into the area.

•Vacancy is on the decline due to an increase in immigration and relocation into Nanaimo.

•New commercial construction is on the steady rise with numerous strata Office space coming to the market to meet the growing demand of ownership.

•The residential market is still active with considerable new developments on the rise.

•The market is now influxed with the shipping container port highly active, making business in the island more affordable as it is a ferry ride or sea plane ride away from the second hottest real estate market in the world - Vancouver.

•Nanaimo is the hub city with its centralization on the island. The international University, and affordable oceanfront living make it the number one choice for new immigrants and retiring baby boomers.

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Coldwell Banker CommercialSlegg Realty#17-4980 Rutherford Rd.Nanaimo, British Columbia V9T 4Z4(866) 664-3444www.cbcworldwide.com

CBSANanaimo/ Vancouver Island, BC

Square Miles 494

Population 154,227

Households 35,000



Unemployment 7.60%

RETAIL



CONTACT

Canada - Nanaimo/Vancouver Island, BC

OFFICE



75

•Magna is still a major employer for the Newmarket Area.

•Vacancy is falling due to the successful local business climate.

•The rapid transit project for Davis Drive nears its halfway point.

•Residential development continues in north-west and south-east sections of the town.

•Redevelopment of Davis Drive will change the face of Newmarket.

•Newmarket is home to Southlake Regional Health Centre and Stronach Cancer Centre.

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CBSA Newmarket, Ontario

Square Miles 14

Population 83,000

Households 26,000



Unemployment 1.30%

RETAIL



CONTACT

Canada - Newmarket, Ontario

OFFICE

•Casino Rama remains Orillia’s largest employer in the area.

•The downtown revitalization is bringing new small businesses into the area.

•The city has experienced moderate growth at rates around 1.9 percent.

•New homes are being constructed in the north-west section of the city.

•The large public sector employer remains the Ontario Provincal Police Headquarters.

•Orillia is known as the “Sunshine City” or “Mariposa”, taking the moniker from the Sunshine Sketches of a Little Town by Stephen Leacock.

Vacancy n

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CBSA Orillia, Ontario

Square Miles 11

Population 30,586

Households 11,234



Unemployment 4.23%

RETAIL



CONTACT

Canada - Orillia, Ontario

OFFICE



76

•Federal Government continues to relocate departments to the suburbs, thereby creating opportunities for current downtown private sector tenants to reduce rental costs via relocations and suburban tenants looking to relocate closer to downtown to take advantage of lease deals.

•Overall vacancy rates are expected to increase across the region while downtown remains static (6.7 percent) in 2013, and Kanata’s vacancy is expected to decline (to 9.8 percent) as landlords experience both new and expanded tenancies.

•New developments include Westboro, the redevelopment of Lansdowne Park and Bayshore Shopping Mall (160,000 SF expansion). They are expected to attract new retail tenants and increase employment opportunities.

•Residential condo developments continue to be active and in demand for both Residential and Retail clients.

•New community mall developments are attracting large U.S. retailers like Target and Loews in the suburban markets.

•Local and national economy are affecting the manufacturing sector. Large plants and operations are looking to trim expenses by relocating to larger centers (Toronto, Montreal) or by consolidating operations.

Vacancy n

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Coldwell Banker CommercialFirst Ottawa realty, Brokerage1419 Carling Ave., Suite 219Ottawa, Ontario K1Z 7L6(613) 728-2664www.ottawacommercialproperties.com

CBSA Ottawa, Ontario

Square Miles 1,801


Households 420,000



Unemployment 5.90%

RETAIL



CONTACT

Canada - Ottawa, Ontario

OFFICE

•In 1999, Industrial, Commercial and Institutional growths were valued at $88.9 million and were up from $67.9 million in 1998.

•Yonge Street’s condo development is tremendous.

•Most new developments reside along Jefferson Sideroad, but there are multiple infill projects across the town.

•Most business in Richmond Hill consist of small businesses with more than half of all employers in the town having four workers or less.

•Once considered the “Rose Capital of the World”, Richmond Hill has in recent years seen a huge population upsurge, being Canada’s fastest-growing community in the 1990s.

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Absorption p

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CBSA Richmond Hill

Square Miles 39

Population 185,541

Households 46,075



Unemployment 3.77%

RETAIL



CONTACT

Canada - Richmond Hill, Ontario

OFFICE

www.ottawacommercialproperties.com


77

•The portion of Canada strategically located between Vancouver, Calgary and the USA Border is a highly desirable region.

•Key infastructure includes Selkirk College, Regional Hospital, Teck Resources (#1 employer with a high expansion planned) High Tech Junior Companies and E-Waste Recycling.

•The Residential market has lost value over the past 5 years, and there is an unbalanced inventory with excess inventory forcing prices downward.

•New developement in the past 5 years includes 4 major businesses plus a Walmart.

•West Kootenay Area is nicely located just 2 hours North of Spokane Washington which is a major shopping and transportation hub as well as an international airport.

•This is highly desirable lifestyle with beautiful ski hills with the largest expansion, great golfing, warm lakes, mountain biking and hiking. Life here is as good as it gets!

Vacancy p

Absorption q

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Coldwell Banker Commercial1st Trail Real Estate Ltd.1252 Bay Ave.Trail, British Columbia V1R4A6(250) 368-5222www.cbcworldwide.com

CBSA Trail, BC

Square Miles 13

Population 19,208

Households 8,540



Unemployment 6.30%

RETAIL



CONTACT

Canada - Trail, British Columbia

OFFICE

•The area is home to Canada’s Wonderland and the McMichael Art Gallery.

•Vacancy is falling due to successful local business climate.

•Industrial development along Highway 400 dominates the real estate development.

•Vaughan is one of southern Ontario’s fastest growing cities. According to Statistics Canada, the population grew 37.3 percent in a mere four-year period (more than 9.3 percent annually).

•The population has doubled since 1991.

•Mackenzie Vaughan Hospital is the new hospital proposed along Major Mackenzie Drive (between Highway 400 and Jane Street).

Vacancy q

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CBSA Vaughan, Ontario

Square Miles 273,500

Population 288,301

Households 69,535



Unemployment 3.20%

RETAIL



CONTACT

Canada - Vaughan, Ontario

OFFICE



78

•Over 200 thousand SF of Office space offered up by Research in Motion (now known as BlackBerry) was quickly absorbed in the marketplace with another major employer in the region, ManuLife Financial, taking over 100 thousand.

•The Light Rail Transit project (LRT) is drawing builders and investors to the region. This project, set to open in 2017, is fueling real estate values in the downtown areas.

•Four new significant Retail developments are currently planned or undergoing construction.

•Coldwell Banker Commercial Peter Benninger Realty was privileged once again to host a luncheon for the 17th annual Passport to Success Event, a complimentary two-day business event held annually during Oktoberfest, North America’s largest Bavarian festival, hosted by Waterloo Region.

•Passport to Success introduces companies and businesses to the Waterloo Region as a potential location to consider for future development or investment. Guests tour the region and network with the thriving business community, and this year guests from as far away as China attended.

Vacancy p

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Coldwell Banker CommercialPeter Benninger Realty, Brokerage508 Riverbend Dr.Kitchener-Waterloo, Ontario N2K 3S2(519) 743-5211www.coldwellbankercommercial.ca

CBSA Waterloo Region

Square Miles 528

Population 543,700

Households 194,890

Household Income Median $74,490 CDN


Unemployment 6.60%

RETAIL



CONTACT

Canada - Waterloo Region, Ontario

OFFICE

•In spite of global recession, tourism is a growing sector in Greece and forecasts for 2013 foresee further growth. As a result, a significant mobility from foreign and domestic investors is observed the last few months. Tourism as a spearhead of Greek economy creates great opportunities in Vacation/Second home Greek market.

•The business environment is becoming significantly more friendly. As a result, there has been significant simplification of structures and administrative procedures, facilitating investments in tourism. Furthermore, new investment products such as ‘tourist villages’ are currently considered to be introduced.

•Residential and commercial property transactions and prices are still on a downturn creating huge opportunities in the Greek Real Estate market for buyers.

•In addition, a large number of public properties (ports, marinas, airports, sites for commercial and tourist development, etc.) are becoming available for privatization through Hellenic Republic Asset Development Fund SA, aiming to bring foreign investments and estimated to generate 23 billion euros in the Greek economy.

Vacancy p

Absorption n

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Coldwell Banker CommercialHellas8 Omirou St. & Panepistimiou Ave.Athens, Attica 10564(+30) (210) 322-8228

CBSA Athens, Greece

Square Miles 50,949





Unemployment 27%

RETAIL



CONTACT

Greece

OFFICE

www.coldwellbankercommercial.ca

79

•Business Systems & Solutions and Cabott which leased space in Kesar Solitaire at Nerul and Enam Securities leased space in Express Towers at Nariman Point.

•Vacancy is rising due to higher supply then demand of commercial spaces and not much commercial demand

•Pinnacle Tower at BKC (SBD BKC) and Mindspace 1 Building 1 at Airoli have changed the vacancy rate.

•Residential sales declined in June, but decline was primarily in the luxury segment.

•There was not much of a change in the commercial markert from 2011, but residential saw marginal increase from 2011.

•Phase 1 of Mumbai Mon Rail, connecting Wadla to Chembur, is expected to be completed by 2013.

Vacancy p

Absorption q

Rental Rates n

Vacancy p

Absorption q

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Vacancy N/A

Absorption N/A

Rental Rates N/A

Vacancy p

Absorption p

Rental Rates p

Coldwell Banker CommercialGoodwill Consultants515, Arun Chambers, TardeoMumbai, Maharasthra 400034(+91) (22) 6662-7090www.coldwellbankergc.com

CBSA Mumbai

Square Miles 233





Unemployment N/A

RETAIL



CONTACT

India - Mumbai

OFFICE

•Discount retailers have helped absorb supply of retail units.

•The Georgian office market is seeing activity in trading.

•AIB Bank is expected to double its residential mortgage lending in 2013.

•Dublin residential home prices have stabilized.

•Mortgage rates have increased.

•Ireland assumes Presidency of EU for first 6 months of 2013.

Vacancy q

Absorption p

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Rental Rates n

Vacancy q

Absorption p

Rental Rates p

Coldwell Banker CommercialProperty Consultants32 Lower Leeson St.Dublin, Ireland 2(+ 353) (1) 411-0012www.coldwellbankercommercial.ie

CBSA Dublin, Ireland

Square Miles 70,280



Household Income Median € 33,000


Unemployment 14%

RETAIL



CONTACT

Ireland - Dublin

OFFICE

www.coldwellbankergc.com

www.coldwellbankercommercial.ie

80

•Corporate investments were stable in the period 2009 to 2011 (average approximately 4.2 billion) but were reduced to one third in 2012 (1.2 to 1.8 billion - of which, 40 percent are Offices and 24 percent are Hotels).

•Operators do not predict large drops in prices. The repricing in Italy should not be profound; rather, there will be a further decrease of less than 5%.

•In Real Estate Funds in 2012, there was a further increase in assets to about € 40 billion, although the number of funds has dropped due to the closure of many “familiar” funds that were penalized by taxation. The composition of funds consists of Offices representing 60%, Commercial 19%, Logistics and Industrial 6%, Residential 3% and the development funds 12%.

•The Hotel market continues a positive interest in the Art’s Cities. Qatar Holding Fund is ready to invest a billion dollars to make the Emerald Coast in Sardinia, a luxury tourist hub.

•In Shopping Mall Centers, rents are confirmed stable in established centers. The frequent renegotiations and commercialization in the area generally require more time. In the High Street of the main Italian cities, due to limited availability, demand remains strong for the best positions.

Vacancy p

Absorption q

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Vacancy p

Absorption q

Rental Rates q

Vacancy p

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Vacancy p

Absorption q

Rental Rates q

Coldwell Banker CommercialS.p.A.Galleria del Corso, 2Milan, Italy 20122

Via Sardegna, 50 Rome, Italy, 00187

(+39) (063) 974-0456www.cbcommercial.it

CBSA Rome, Italy

Square Miles 301





Unemployment 11.20%

RETAIL



CONTACT

Italy

OFFICE

•Mexico has managed to position itself as one of the 20 most attractive markets at an international level for the construction of department and convenience stores.

•Outlined by stiff competition, the Retail sector is becoming more important every day. These markets are essential in the paths that create synergies, partnerships and efficiencies.

•During 2012, sales on department stores grew 8.1 percent compared to 2011.

•The total stock in the Mexico City Class A+ to A Office market has 3.9 million SF at 2012 year-end, which represents an increase of 4.6 percent compared to the end of 2011.

•2012 was a record year in Office space absorption exceeding the half a million SM (530 SM), of which 62 percent was in the Insurgentes, Santa Fe and Polanco corridors.

•The average rent price remained stable throughout 2012 at $25.6 USD SM per month.

Vacancy q

Absorption p

Rental Rates n

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Vacancy N/A

Absorption N/A

Rental Rates N/A

Coldwell Banker CommercialMexicoMontes Urales 4151 Lomas de ChapultepecMexico, Mexico 11000(152) (554) 162-1000www.cbcmexico.mx

CBSA Mexico City

Square Miles 571


Households N/A

Household Income Median $35,000 MXN


Unemployment 3.90%

RETAIL



CONTACT

Mexico - Mexico City

OFFICE

www.cbcommercial.it

www.cbcmexico.mx

81

•Panama has a great connectivity through land, sea and air. An open service economy, economic political and social stability, a dollarized economy, an international financial center, and a world class logistics platform make Panama the ideal site for doing business in the region.

•Panama is very pro-business and has enacted tax breaks and broad economic initiatives to incentivize companies to relocate. Multinational companies have been setting up shop in Panama since 2007, and these executive relocations mean furnished rental demand in certain sectors of Panama City.

•Families moving from other countries are drawn to Panama for its comparatively affordable lifestyle, excellent private school system and its relatively safe urban center in Panama City. Furthermore, many Asian and European countries are just starting to discover Panama tourism.

•Panama’s banks are continuing to write mortgages while flush with cash, meaning there is ample credit for buyers.

•The government is consistently investing in new infrastructure to make the city more attractive and more livable. Examples include: fast tracking pro-business laws and policies, including free trade agreements, and tax incentives and government sponsored initiatives.

Vacancy p

Absorption n

Rental Rates n

Vacancy n

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Vacancy n

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Vacancy n

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Rental Rates p

Coldwell Banker CommercialLocation Realty, S.A.Punta PacificaPacific Village Offices Tower2nd Floor, Suite 2Panama City, Panama (507) 300-1010www.cblocationrealty.com

CBSA Panama

Square Miles 29,762



Household Income Median $958.43 USD


Unemployment 3%

RETAIL



CONTACT

Panama

OFFICE

•Several major franchises are locating to the island, including: Winn Dixie, Olive Garden, Red Lobster and CVS.

•Vacancy is high due to several major Industrial operations relocating to the U.S. mainland.

•New construction is down 30 percent but sales are up due to Island tax incentives.

•Increase in residential real estate inventory due to many locals relocating and foreclosed homes.

•Property values on both Residential and commercial have dropped 30 percent from last year.

•Many foreign buyers are taking advantage of the great tax incentives for buying real estate in Puerto Rico.

Vacancy p

Absorption q

Rental Rates q

Vacancy n

Absorption n

Rental Rates q

Vacancy p

Absorption q

Rental Rates q

Vacancy q

Absorption n

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Coldwell Banker CommercialKF Real Estate530 Constitution Ave.San Juan, Puerto Rico 00901(787) 433-0077www.cbcommercialpr.com

CBSA Puerto Rico

Square Miles 3,562


Households 856,231



Unemployment 12.50%

RETAIL



CONTACT

Puerto Rico

OFFICE

www.cblocationrealty.com

www.cbcommercialpr.com

82

•Changes in the area include: Spanish investor Pontegadea’s acquisition of Torre Picasso in Madrid, BBVA headquarters location in Barcelona, and the Apple store location in Paseo de Gracia, Barcelona for approx. €580M.

•Spain’s country risk has lessened. The drop in property prices has reflected the changes. This has forced vacancy down and made the country an attractive investment opportunity.

•Las Vegas Sands corporation’s €22bn “Euro Vegas” project will see the construction of Europe’s biggest casino resort in Alcorcón, near Madrid. The Marina Port Vell, in Barcelona, is undergoing major redevelopment for berthing super yachts. The theme park Port Aventura (Salou, near Barcelona) is redeveloping its water park.

•Despite five years of falling transactions, 2012 saw Residential property transactions rise by 58 percent over the previous year. This may be attributed to tax concessions with newly built properties. Property asking prices have fallen, and Spain continues to attract foreign buyers.

•Discounted property from Spain’s virtual ‘Bad Bank’ offers significant discounts [up to 85 percent] on new builds and second-hand properties plus undeveloped land.

Vacancy q

Absorption p

Rental Rates n

Vacancy q

Absorption p

Rental Rates n

Vacancy q

Absorption p

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Vacancy q

Absorption p

Rental Rates q

Coldwell Banker CommercialSpainAvda. Diagonal 433, 3º 2ªBarcelona, Cataluña 8036(+34) (93) 241-3082www.coldwellbanker.es

CBSABarcelona/Cataluña Region

Square Miles 1,249



Household Income Median 17,960 EUR


Unemployment 26.02%

RETAIL



CONTACT

Spain - Barcelona/Cataluña Region

OFFICE

•It is a perfect time to invest in Spain. Property prices are at a 7 year low, and owners are willing to study offers.

•The economic crisis in Spain has decimated the Commercial sector, leaving incredible opportunities behind.

•Due to the glut of commercial space available, new construction is not occurring at this time.

•The residential market is now at the same level as 2002, but continues to decline.

•There is practically no bank financing available for individual buyers. Due to the property stock level of the banks, they want to sell their own product before financing properties outside their system.

•The unemployment rate in Spain is at an all time high and until this situation improves, commercial and housing prices will continue to fall.

Vacancy p

Absorption n

Rental Rates q

Vacancy q

Absorption q

Rental Rates q

Vacancy q

Absorption q

Rental Rates q

Vacancy q

Absorption q

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Coldwell Banker CommercialLas Rozas de Madrid, SpainCalle Playa del Sardinero 18Las Rozas de Madrid, Spain 28290(+34) (91) 636-3780www.cblasrozas.com

CBSA Spain

Square Miles 504,782





Unemployment 25%

RETAIL



CONTACT

Spain

OFFICE

www.coldwellbanker.es

www.cblasrozas.com

83

•JW Marriott Marquis opened its doors for operations in the Business Bay district, becoming the world’s tallest hotel in the world.

•With the consumer/investor confidence growing, there is a high level of demand in every sector (Retail/Residential/Commercial/Hospitality/Industry)

•Princess Tower, the tallest residential tower, was completed and ready for occupation.

•The overall residential market has recorded a positive year, with the villa market continuing to outperform the Apartment sector. Prime projects in well established locations continue to see improved performance, but secondary locations are still suffering from rental and pricing declines

•After 2008 and for the first time in 2012, Dubai’s market witnessed the sales of off-plan projects and plots for development.

•Emaar and Dubai Holding unveiled the first project as part of their joint venture launched in November, the Mohammed Bin Rashid City (MBR City). The mega project will include the world’s biggest shopping mall, a Universal family theme park and a park that is a third bigger than Hyde Park in London.

Vacancy q

Absorption p

Rental Rates p

Vacancy q

Absorption p

Rental Rates p

Vacancy q

Absorption p

Rental Rates n

Vacancy N/A

Absorption N/A

Rental Rates N/A

Coldwell Banker CommercialUAE (Mega Homes Real Estate)Suite 2804The Citadel Corporate TowerBusiness BayDubai, United Arab Emirates P.O. Box 73618(+971) (4) 439-1200www.coldwellbanker-ae.com

CBSA Dubai, UAB

Square Miles 4,110


Households 203,140

Household Income Median 327


Unemployment N/A

RETAIL



CONTACT

United Arab Emirates - Dubai

OFFICE

www.coldwellbanker

-ae.com

Index by Market

Sources of InformationEach market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) 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.

Acadiana, LA 39Albany, NY 49Albuquerque, NM 48Amarillo, TX 60Anchorage, AK 5Athens, GA 27Atlanta, GA 28Austin, TX 60Bakersfield, CA 7Billings, MT 45Birmingham, AL 4Bloomington/Normal/McLean, IL 32Boca Raton/Palm Beach County, FL 16Boise, ID 31Bryan/College Station, TX 61Central & Northern, NJ 47Central, IL 32Central, MN 42Champaign/Urbana, IL 33Charleston, SC 56Charlotte, NC 51Chattanooga Metro, TN 58Cheyenne Metro, WY 70Chicago, Southwest, IL 33Chicagoland, IL 34Chico, CA 7Cincinnati, OH 52Columbia, SC 57Dalton/Whitfield County, GA 28Dayton, OH 53Daytona Beach/Ormond Beach, FL 17Deltona, FL 17Dothan/Houston County, AL 4East Lansing MSA, MI 41East, TN 59Eastern Shore, MD 41Eastern, ID 31El Paso, TX 61Fairfield County, CT 15Fargo/Moorhead, ND 52Florida Keys/Key West, FL 18Fort Lauderdale/Broward County, FL 18Fort Wayne, IN 35Fredericksburg Region, VA 66Gainesville, FL 19Garden City, KS 37Greenville, SC 57Gulfport/Biloxi, MS 44Henderson, NC 51Hinesville/Fort Stewart, GA 29Honolulu, HI 30Houston, TX 62Indianapolis MSA, IN 36Inland Empire North/Victor Valley, CA 8Inland Empire, CA 8Jacksonville, FL 19Janesville/Beloit, WI 69Kansas City Metro, KS-MO 37King County, WA 67Lakeland/Winter Haven, FL 20Lexington, KY 38Lincoln, NE 46Little Rock, AR 6Long Beach/South Bay, CA 9Long Island, NY 49Los Angeles, Westside, CA 10Los Angeles/Los Angeles, West, CA 9Louisville Metro, KY 38Lubbock, TX 62Lynchburg, VA 66Macon/Bibb County, GA 29Madison, Greater, WI 69Mankato, MN 43Melbourne/Brevard County, FL 20Melbourne/Palm Bay/Titusville, FL 21Merced MSA, CA 10Miami/Dade, FL 21Midcoast, ME 40Minneapolis/St. Paul Metro, MN 43Modesto, CA 11Montgomery, AL 5

Muncie, IN 36Napa Valley/Napa County, CA 11Naples/Ft. Myers, FL 22Nashville, TN 59New Orleans, LA 40New York City, NY 50Newport Beach, CA 12Northern, NJ 47Oakland/East Bay, CA 12Ocean County, NJ 48Oklahoma City Metro, OK 53Orange County, CA 13Orlando, FL 22Palm Beach, FL 23Pittsburgh, PA 55Portland, OR 54Punta Gorda, FL 23Reno/Sparks MSA, NV 46Rio Grande Valley, TX 63Riverside/South West, CA 13Rochester, NY 50Salem, OR 54Salt Lake Market, UT 65San Gabriel/San Fernando Valleys, CA 14San Mateo County/Peninsula, CA 14Sarasota/Manatee Counties, FL 24Savannah, GA 30Sedona/Verde Valley, AZ 6South/Central, TX 63Southeast, TX 64Southeastern, PA 56Southern, KY 39Southern, OR 55Southwest, WA 68Spartanburg, SC 58Springfield, IL 34Springfield, MO 44St. Joseph, MO-KS 45St. Lucie County, FL 24St. Lucie/Martin Counties, FL 25Sussex County, DE 16Tacoma, WA 68Tallahassee, FL 25Tampa, Greater Area, FL 26Tampa/St. Petersburg, FL 26Tazewell County, IL 35Victoria, TX 64Waco/McLennan County, TX 65Western, CO 15Western, MI 42Williamsburg/Hampton Roads, VA 67Winter Haven, FL 27

INTERNATIONAL MARKETS

Bermuda 71Brazil - São Paulo City 71Canada Aurora, Ontario 72 Barrie, Ontario 72 Calgary, Alberta 73 Courtenay/Vancouver Island, BC 73 Innisfil, Ontario 74 Nanaimo/Vancouver Island, BC 74 Newmarket, Ontario 75 Orillia, Ontario 75 Ottawa, Ontario 76 Richmond Hill, Ontario 76 Trail, British Columbia 77 Vaughan, Ontario 77 Waterloo Region, Ontario 78Greece 78India - Mumbai 79Ireland - Dublin 79Italy 80Mexico - Mexico City 80Panama 81Puerto Rico 81Spain - Barcelona/Cataluña Region 82Spain 82United Arab Emirates - Dubai 83

© 2013 Coldwell Banker Commercial Affiliates. A Realogy (NYSE: RLGY) Company. All Rights Reserved. Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial, the Coldwell Banker Commercial Logo are registered (or unregistered) service marks licensed to Coldwell Banker Commercial Affiliates.

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