Several indicators emerged or firmed over the past year that point to rebounding demand in Denver's apartment market.
A confluence of events has led Denver to become one of the hottest industrial markets in the country. Robust demand in this regional market with a strong local economy is stemming from the growth of retail sales, employment, and industrial production in the metro area and the greater Colorado region.
The first half of 2019 showed little change in the Oklahoma City office market, but what change occurred was fairly positive. Vacancies fell from 20.1% to 19.3% and absorption of space totaled 128,000 square feet.
Oklahoma City real estate is known for its relative stability and slow but steady growth. We typically don’t see the cyclical volatility nor the overexuberance of other markets. The numbers for the first half of the year reflect this even as retail nationally and locally is undergoing transformational change.
Current multi-tenant industrial vacancy for the Oklahoma City metro area now stands at 16.96%, down from 20.31% in mid-year 2018. These swings seem to be the new normal – multi-year strong absorption and rent growth periods followed by multi-year double-digit vacancy and relative quiescence (a kinder term to use around your developer friends than “stagnation”), culminating in eight to ten-year cycles overall.
THE FOURTH QUARTER OF 2015 REPRESENTED A CONTINUATION OF UNCERTAIN, ARGUABLY NEGATIVE, MARKET SENTIMENT IN CALGARY. The downward trend in oil prices that began in late 2014 continued – albeit at a progressively slower pace - through 2015 and negatively affected office leasing activity. The impact has been particularly dramatic in the Downtown market as it continues to represent the epicentre of energy industry headquarters.
THE OVERALL VACANCY RATE IN SUBURBAN CALGARY CONTINUED TO INCREASE OVER THE FOURTH QUARTER, RISING FROM 16.21% IN Q3 TO 18.33% IN Q4. This change is reflective of 152,609 sf of negative absorption in addition to the completion of several suburban office projects which each contain significant amounts of vacant space. The timing of new office project deliveries has been a key element of the Suburban office story. In total, more than 800,000 sf of new product was introduced over the course of 2015.
Welcome to Bilfinger GVA’s central London office analysis; a detailed account of our view of the market in Q4 2015.
Welcome to Bilfinger GVA’s central London office analysis; a detailed account of our view of the market in Q3 2015.
Despite layoffs and bankruptcies in the oil and gas sector driven by drastically lower crude oil prices, The Oklahoma City multi-tenant industrial market is reporting lower overall vacancy than at this time in 2015.
The retail market is better than it seems like it should be. Given the continued layoffs & bankruptcies in the energy market, declining sales tax revenues, and general economic uncertainties, the expectation would be that the Oklahoma economy and the retail market would be in a recession. But, leasing activity, development and interest in our market remain strong.
The Dallas/Ft. Worth Office market ended the second quarter 2016 with a vacancy rate of 14.3%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 1,760,334 square feet in the second quarter.
The Preston Center Sub-Market has seen a 13.5% increase in the Class A vacancy from 7.4% at the end of second quarter 2015 to 8.4% at the end of the second quarter 2016. Average full-service rental rates of Class A space increased per square foot, from $35.75 to $37.30 during the same timeframe. Class A direct net absorption was a negative 22,979 square feet for the second quarter of 2016.
The Lower Tollway Sub-Market is defined by the geographic boundaries of Alpha Road on the south, President George Bush Turnpike on the north, Preston Road on the east, and Midway Road on the west. Rental rates for Class A properties have climbed a staggering 8% over the past year, and 15% over the last two years, to$29.57 full service.