CoStar’s Annual Market Reports have been released, offering a broad collection of 2013 lease and sales data by submarket and property type, and offering a drilled down look at what I reported in my recent blog, Baby Steps. There are links to those reports and a few interesting points to note below.
The Office submarket with the lowest vacancy rate is South Scottsdale at 12.4%. Ironically, the submarket with the highest vacancy rate is North Scottsdale/Carefree at 33.1%. Overall, the Office market has continued to absorb vacancies with little new product being delivered as the recovery continues.
In the Industrial Report, it is interesting to see how many submarkets have year-end vacancies below 7% but also how little lease rates have increased over recent quarters as the chart below exhibits.
The Retail sector has continued to improve across all submarkets and in that report you can see mall, shopping center and power center statistics, among others. Similar to the industrial market, while vacancies have continued to decrease, lease rates have not yet begun to increase.
Here are links to my web page for a complimentary copy of each of the three reports. Office, Industrial, Retail. I hope you find some interesting and profitable information to use in your business and investments.
In the past four years, we have completed over 5,000 transactions at CPI. That is an average of over 100 transactions per month! Valley-wide, no other commercial real estate firm negotiates, prepares, and completes more transactions than CPI. For a no obligation analysis of your property, please call me at (480) 522-2799 to “TrboCharge” your investment real estate today.