Market Data

Regional Outlook

South

Big Deal in Texas

Warren Buffett’s favorite furniture store plans to enter the Texas market in a big way: Nebraska Furniture Mart — owned by Buffett’s Berkshire Hathaway — has announced a $1.5 billion development anchored by a 546,000-sf showroom, a regional headquarters, and a 1.2 million-sf warehouse and distribution facility, according to the Omaha World-Herald. NFM would occupy about 90 acres of a 433-acre site in the Dallas suburb of Colony, Texas, leaving plenty of room for just about anything else. “Everything’s possible,” NFM executive vice president Robert Batt told the paper, adding that a theme park, other retailers, a convention center, hotels, and residential development are all under consideration. Construction begins this spring with the first phase scheduled to open in May 2015.

South

“Based on the Miami Association of Realtors, the city of Miami will break every sales record in the history of Dade County in 2011, including the condo boom years of 2006 and 2007, because of the torrid pace of international buyers now flooding the market with cash purchases.” — World Property Channel

West

Top Development Markets in 2012

Rated “generally good”

San Francisco

Austin, Texas

San Jose, Calif.

Seattle

Source: Emerging Trends in Real Estate 2012

East

Next Big Thing?

ShopHouse Southeast Asian Kitchen debuted its first restaurant in Washington, D.C., last September, but given its pedigree as the second concept from the folks who brought you Chipotle, this rice bowl eatery may be coming to a storefront space near you in the not-too-distant future. Although expansion rollout plans have not been announced, the good food reviews and the lack of a successful competing national Asian food chain bode well for this concept. In addition, founder Steve Ells seems to know what he’s doing: Each Chipotle outlet — and there are more than 1,000 — is worth three times the average McDonald’s, according to NYmag.com.

South

Office Availability Rate, 3Q11

Houston: 17.9%

South Florida: 21.6%

Dallas/Fort Worth: 25.4%

Atlanta: 26.0%

U.S. average: 17.9%

Source: Studley

West

Denver Life Sciences Stats

Status: Emerging life sciences cluster

Epicenter: Northwest submarket

Business: 100 life sciences companies

Capital: $76.7 million venture capital funding; $31.5 million state grant fund “Denver’s life sciences industry is trending positively. Budding start-ups have the intellectual and innovation resources needed to develop into successful and solid companies, … However, it is evident that the market requires investors and landlords who specialize in the development of research facilities.”

— Jones Lang LaSalle, Life Sciences Cluster Report, 2011

Midwest

Big-Box Tenant Looks West

Discount retailer Forman Mills opened its fourth Chicago-area location, in a 50,000-sf former Burlington Coat Factory in the Back of the Yards neighborhood on Chicago’s Southwest side. A privately owned company headquartered in Philadelphia, Forman Mills is a good fit for 50,000-sf to 80,000-sf big boxes in off-market locations. The 30-store chain has locations in the East and Midwest and is researching expansion opportunities in the western U.S.

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