Market Data

Regional Outlook


Las Vegas’ Big Deal

The Cosmopolitan Hotel and Casino brought more than the “just the right amount of wrong” to Deutsche Bank, which sunk $4 billion into constructing and running the 3,000-room property after foreclosing on the original developer back in 2008. When it opened in 2010, with a hip ad campaign and a three-story chandelier containing a cocktail bar, the property attracted a young crowd of pleasure seekers who came to party but not to gamble. Having never turned a profit on the Cosmo, Deutsche Bank sold it to the Blackstone Group for about $1.73 billion in cash.

Seattle Multifamily Stats

Vacancy rate: 3.6%
YOY rent growth: 7%
New construction: 7,324 new units added in 2013; 16,230 units under construction
Sales volume: 2005 (peak) $2.64 billion; 2013, $2.27 billion; 2014F, $1.3 billion

Source: Kidder Mathews



“With only five class A buildings with 10,000 contiguous square feet and greater available for lease in the region, Charleston’s [S.C.] market conditions appear to be healthy enough to support further construction of speculative office development.” - Simons R. Johnson, CCIM, Colliers International


New Jersey Industrial Market 1Q14

While New Jersey industrial markets saw negative absorption in the first quarter, investors do not seem terribly concerned, given the state’s continual decline in vacancy by more than 24 percent since 2010. However that may change in the next 12 months as 4.9 million sf of newly constructed space starts to hit the market this year – almost 22 times the historic average of new product. Central New Jersey is forecast to see the most leasing activity, as several large deals over 200,000 sf will offset the growing inventory. At the same time, smaller units under 50,000 sf will become scarce, driving investor demand and higher rents.

Source: Cassidy Turley

Boston Snapshot

Investors view Boston as a “multidimensional commercial real estate market,” according to a Colliers International 1Q14 report on the city. The greater Boston area saw $2.19 billion in sales volume in 1Q14, with every major asset class surpassing $100 million. Office and retail accounted for the majority of the increase over 1Q13’s $1.24 billion. Class B CBD office is quite sought after, going for $230 to $280 psf, and up to $365 psf in some submarkets. Even so, Boston’s suburban office market saw a 60 percent drop off in volume YOY, due more to lack of class A trophy product than a shortage of interested investors. Retail, however, saw a 534 percent increase over 1Q13, with $230 million in sales volume.



Building Progress

Fall 2020

Moody's Analytics Reis Chief Economist Victor Calanog, Phd, CRE, outlines how construction in many sectors will fail to meet expectations for 2020.

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This Is the Altered Normal

Fall 2020

Esri’s data on consumer behavior, demographics, and employment can help real estate adapt in the COVID-19 world.

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Market Trends in Commercial Real Estate

Summer 2020

Office Renters Change Priorities in Wake of Pandemic | Recreational Real Estate on the Rise | Case Study: COVID-19's Impact on Eastern PA Big-Box Market | Hospitality Owners Have Reservations as Occupancy Drop | Seniors Housing Responds to Mounting Pressure from Pandemic | Mixed-Use Developments Can Keep It Local | Supply Chain Reacts to Social Distancing | Self-Storage Weathers Early COVID-19 Storm

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The CMBS Stress Test

Summer 2020

The commercial mortgage-backed securities market is particularly vulnerable amid the COVID-19 pandemic, with borrowers and lenders looking for creative solutions to unprecedented problems.

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