“Investors are back and active in Edmonton’s commercial real estate (CRE) investment market in a meaningful way. Led by a resurgence of interest in ICI Land and an uptick in demand for Multi-Residential properties and Industrial assets, total dollar volume invested rose by 8% year-over-year.” -- Doug Grinde, Vice President, Barclay Street Real Estate
“Investors are back in Calgary’s commercial real estate (CRE) investment market and their wallets are open. Fuelled by a continued desire for retail assets and renewed interest in ICI and Residential Land, total dollar volume invested rose by 23% year-over- year.” -- George Larson, Vice President, Investment Sales, Barclay Street Real Estate
The first half of 2018 brought expected results for the Oklahoma City Central Business District with increased vacancy due to the addition of the BOK Park Plaza Building to available inventory and negative absorption of 84,000 square feet. However, there are continued signs of improvement in the suburbs as 157,000 square feet was absorbed in those submarkets. The net absorption for the entire market was a positive 73,000 square feet; the first positive absorption total in the past seven semi-annual reports.
AT THE MID-POINT OF 2018, CALGARY’S RETAIL MARKET CONTINUED TO GRAPPLE WITH A FLOOD OF VACANT SEARS RETAIL SPACE THROUGHOUT THE CITY.
The retail market in Portland did not experience much change during the second quarter. With the vacancy rate at 3.2%, net absorption was a positive 83,327 square feet and vacant sublease space increased by 29,737 square feet. There was a slight increase in quoted rental rates, ending at $17.35 per square foot per year. Seven buildings were delivered to the market and 1,129,274 square feet are still under construction.
TCN Worldwide's State of the Market: Central Edition, 2nd Quarter 2016 Prepared by Hugh F. Kelly, PhD, CRE, Consulting Economist to TCN WorldwideIn this edition: –National and Macroeconomic Overview –Regional Conditions in the Central States –Commercial Property Investment Trends
The LBJ Corridor has not benefitted from the same level of activity as it’s North Texas counterparts since 2013. This is largely due to the LBJ Express Project which began in early 2011, and was completed in 2015. Many of the buildings within the LBJ Corridor are outdated and inefficient, making companies hesitant to relocate into the region.
The North Central Expressway Sub-Market has seen a remarkable decrease in the Direct Class A vacancy from 20.00% at the end of first quarter 2015 to 13.9% at the end of the first quarter 2016.
The Upper Tollway Sub-Market is currently a hub of office real estate activity in Dallas and has become one of the most attractive sub-markets in the D/FW Metroplex. With relocations of large corporate campuses, like Toyota and JP Morgan Chase, the area is becoming even more appealing and has led to an increase in rental rates and construction. This recent construction has resulted in an increasing vacancy rate but the new vacancies are filling up quickly.
Class A Product along the Lower Tollway has been in high demand, with rental rates increasing 12% in the past year, and 20% in the previous two years. The Lower Tollway’s Class A vacancy is down from 12.7% in the first quarter of 2015 to 12.0% at the first quarter 2016. To put this into perspective, a market is considered to be in a “boom cycle” when vacancy rates near 15%.