2 q11 market beat industrial lv

2Q11

MARKETBEATLas VegasIndustrIaL report

expanded Market CoVerage report www.CoMre.CoM

Cushman & Wakefield Commerce Real Estate Solutions of Clark County3800 Howard Hughes Parkway, Suite 1200, Las Vegas, 89169 (702) 796-7900 www.comre.com©2011, Commerce Real Estate Solutions. Disclaimer: The above information is given with the obligation that all negotiations relating to the purchase, renting, or leasing of the property described above shall be conducted through Commerce Real Estate Solutions. No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other encumbrances, withdrawal without notice, and to any special listing conditions imposed by the seller. Prospective buyers should conduct their own due diligence.

National and State Employment and Unemployment OverviewNevada is showing signs of a stabilizing market. Tourism has increased, visitor volume is up, conventions are up and we now have former Mayor Oscar Goodman working part time with the Convention Authority to promote Las Vegas. Things are looking up for the Las Vegas Market. We should not see any more major jumps in the labor market like we have seen in the past few years. We may however, still see a wave effect of job growth quarter by quarter, for the next few years. The market may see job growth one quarter and then losses the next quarter, but no big jumps. The Department of Employment, Training and Rehabilitation (DETR) reported that “Through the first five months of 2011, job levels in Nevada are essentially unchanged from the same period in 2010, down by just 0.1 percent. To put that in perspective, at the height of the recession in Nevada, in 2009, job losses came in at 9.1 percent. These results are certainly consistent with the “stable” theme evident in many of our recent assessments of Nevada’s labor market.” The construction industry lost 1,500 jobs at the end of 2010; however throughout 2011 it has recovered 1,400 jobs. Due to the re-opening of a casino in Reno, the leisure and hospitality industry added 900 jobs. The professional and business sector saw another job loss of 1,100 jobs, adding to 2,100 jobs lost in 2011. The Center for Business and Economic Research (CBER) at UNLV reported that they “expect little change in future job growth through the first half of 2011.”

The national unemployment rate is currently 9.1 percent, a rise from 8.8 percent we witnessed last quarter. This unemployment rate is equal to roughly 13.9 million unemployed workers that are now drawing unemployment insurance benefits. In May,

Stats on the Go Average Lease Rates Average Sale Prices

AT A GLANCE

Industrial vacancy rates in the Las Ve-• gas area fell this quarter to 15 percent in comparison to 15.85 percent in the first quarter. The current vacancy rate is down .01 percent from a year ago when rates averaged 15.01 percent. With new development at a stand still, vacancy is starting to stabilize as space is ab-sorbed.

Median asking lease rates showed a • slight increase during the quarter. By the end of second quarter 2011, the market showed a median asking rate of $0.55 per square foot (psf), compared to first quarter 2010 rate of $0.52 psf.

The economic outlook is starting to • show signs of stabilization as net ab-sorption is in the positive for the first time since 2008.

Tourism has increased, visitor volume is • up, conventions are up and we now have former Mayor Oscar Goodman working part time with the Convention Authority to promote Las Vegas.

2Q10 2Q11 Y-o-Y Change

12 month Forecast

Overall Vacancy

15.0% 15.0% 0 pp

Direct Asking Rents

$7.20 $6.60 0.1%

YTD Leasing Activity (sf)

2,478,105 4,997,554 0.5% -2,000,000-1,000,000

01,000,0002,000,0003,000,0004,000,0005,000,0006,000,0007,000,000

2008 2009 2010 2011 YTD

Absorption Leasing Activity

$0.00

$2.00

$4.00

$6.00

$8.00

2Q10 3Q10 4Q10 1Q11 2Q11

psf/y

r

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%Rental Rate Vacancy Rate

MARKETBEAT Las VegasIndustrIaL report

2Q11


22 states recorded unemployment rate increases, however 27 states posted jobless rates significantly lower than the national rate. The highest regional jobless rates were again in the Western part of the country, while the Northeast recorded the lowest rates. Nevada continues to show the highest unemployment rates in the nation and has been in the double-digits for the past 28 months. The last time we were in the double-digits for this length of time was in 1980 and that only lasted for 15 months straight. The states with the next highest rates were California at 11.7 percent and Rhode Island at 10.9 percent unemployment rates. North Dakota reported the lowest jobless rate, 3.2 percent, followed by South Dakota and Nebraska, 4.8 and 4.1 percent, respectively. Nevada also held the record this quarter as the state with the largest over-the-month unemployment rate decrease, which shows a good sign of stabilization.

Las Vegas Industrial MarketVacancyThe Las Vegas industrial market showed a downward movement in vacancy dropping to 15 percent during second quarter 2011. The Central submarket continues to show the lowest vacancy rate at 8.14 percent along with the Southeast submarket at 13.91percent and North Las Vegas submarket at 13.64 percent. The highest vacancy submarkets are the Northwest at 26.37percent, Airport at 20.44 percent and West submarket at 18.09 percent. The high vacancy

rates are driven by weak tenant demand and marginal stability, combined with lease concessions, defaults and downsizing. Net absorption, the measure of space leased from one reporting period to the next, for the second quarter was at 763,331sf. This is the first time since fourth quarter 2008 when net absorption has seen a positive number. The North Las Vegas submarket showed the greatest improvement of absorption with 645,654sf for second quarter, while the Southwest submarket posted the least amount with -25,112 sf of negative absorption. Note: Due to reclassifications of, and adjustments to, data between reporting periods, the commercial market data for the latest quarter may not necessarily be comparable to a previously reported quarter.

-1%1%3%5%7%9%

11%13%15%

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

3Q08

4Q08

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

Las Vegas – 12.4%Nevada – 12.1%US – 9.1%

Unemployment rates 2Q11

sIgnIFICant 2Q11 Lease transaCtIonsBuILdIng suBMarket tenant sQuare Feet propertY tYpeGolden Triangle Industrial Park North Las Vegas Synq Solutions Inc 101,204 Warehouse/DistributionGolden Triangle Industrial Park North Las Vegas Desert Portable Storage 90,420 Warehouse/Distribution3325 W Sunset Rd Southwest Freeman Audio Solutions 86,125 Warehouse/Distribution* Renewal – not included in leasing activity statisticssIgnIFICant 2Q11 saLe transaCtIonsBuILdIng suBMarket BuYer sQuare Feet purCHase prICe6590 Bermuda Rd Airport Bermuda Road Properties, LLC 135,400 $11,000,0005220 E Russell Rd Southeast Oasis Baptist Church 35,878 $6,500,0002762-2772 Abels Ln North Las Vegas Slawomir M & Barbara Warzocha 20,000 $350,000sIgnIFICant 2Q11 ConstruCtIon CoMpLetIonsBuILdIng suBMarket MaJor tenant sQuare Feet CoMpLetIon dateN/AsIgnIFICant proJeCts under ConstruCtIon/renoVatIonBuILdIng suBMarket MaJor tenant sQuare Feet CoMpLetIon dateN/A

Industrial: Quarterly Vacancy

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

Q2 07

Q3 07

Q4 07

Q1 08

Q208

Q308

Q408

Q109

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q111

Q211

Industrial: Quarterly Absorption (SF)

(3,000,000)

(2,500,000)

(2,000,000)

(1,500,000)

(1,000,000)

(500,000)

-

500,000

1,000,000

1,500,000

2,000,000

Q2

07

Q3

07

Q4

07

Q1

08

Q2

08

Q30

8

Q40

8

Q10

9

Q20

9

Q30

9

Q40

9

Q11

0

Q21

0

Q31

0

Q41

0

Q11

1

Q21

1


2Q11


New Supply (Completions) and Market DemandDevelopers have halted many projects resulting in no new construction completions during second quarter. Going forward, only 22,000 sf of under construction product is still in the pipeline. With the continued hesitation of developers to build product due to scarce construction financing and weak rents, we also do not expect much of the planned product to come online any time soon. Future new supply levels will continue to shrink as market corrections are underway. It may take another five years for the housing market to become stable, credit to start flowing and employment to become active again before any rise in construction numbers. For a smart recovery, the industrial market needs to solve the imbalance of supply and demand by allowing existing vacant space to be absorbed and wait out this business cycle before any major growth should happen.

Pricing (Sales and Average Asking Rents)With the growth of banked owned / foreclosed properties that have come on in the market we are starting to also see a growth in industrial building sales. During second quarter 2011, there was a total of 328,045 sf of inventory sold. Owner/user sales have a large portion of total sales with 243,021 sf compared to investment sales of 85,024 sf. So far this year alone, the industrial market has sold more than 844,600 sf of projects, which is almost the same amount that the market sold in all of last year. This is a great time for investors or owner/users to invest in industrial properties in the Las Vegas market due to the quality inventory and current asking prices.

With the growth of building sales, lease rates are expected to remain low for many more years to come. By second quarter 2011, the market reported industrial median asking rental rates of $0.55 sf/NNN. By product type, median asking distribution lease rates remained stable at $0.46 sf/NNN by the end of the second quarter; light industrial units had a rise from the reported rents of $0.52 sf/NNN last quarter to the current $0.55 sf/NNN; flex space saw a slight decrease from $0.61 sf/NNN last quarter to the current $0.60 sf/NNN; pricing for midbay went up from a median asking rate of $0.49 sf/NNN to the current rate of $0.52 sf/NNN; while incubator product fell from a median asking rate of $0.60 sf/NNN to $0.58 sf/NNN. Landlords are starting to level off with price adjustments and with high concessions, lease rates are stabilizing.

Industrial: Inventory (SF) and Vacancy Rate (%)

15.00%

60,000,000

70,000,000

80,000,000

90,000,000

100,000,000

110,000,000

Q2 07

Q3 07

Q4 07

Q1 08

Q2 08

Q308

Q408

Q109

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q111

Q211

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

Quarterly Inventory Overall Vacancy Rates

Industrial: Industrial Employment vs Vacancy Rate (%)

15.00%15.37%

15.13%15.01%15.01%14.03%

50,000

75,000

100,000

125,000

150,000

175,000

200,000

Q409

Q110

Q210

Q310

Q410

Q211

10%

12%

14%

16%

18%

Industrial Type Vacancy RatesDistribution, 12.06%

Light Indu, 14.66%

Incubator, 18.82%

Midbay, 17.59%

Flex, 20.59%

Industrial Submarket - Direct vs Sublease Vacancy

20.44%

8.14%

13.91% 13.64%15.09%

26.37%

14.52%

18.09%

15.00%

0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.05% 0.14% 0.04%0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

Vacacny % 20.44% 8.14% 13.91% 13.64% 15.09% 26.37% 14.52% 18.09% 15.00%

Sublease % 0.00% 0.00% 0.07% 0.00% 0.00% 0.00% 0.05% 0.14% 0.04%

Airport Central SoutheastNorth Las

VegasSpeedway Northwest Southwest West

Las Vegas Area Total


2Q11


OutlookMarket indicators are on the uptick and signs of recovery are visible. We are optimistic that the bottom is near and compared to last year, vacancy is not rising and lease rates are not falling as fast or as far as we were witnessing. Growth in sales will continue to

put downward pressure to keep lease rates low. We anticipate the industrial vacancy to either remain flat or gradually drop over the next few years as the local and national economies show further signs of improvement.

Industrial Owner User Sales: User Sales (SF) and Average Price Per Bldg (SF)

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Q2 07

Q3 07

Q4 07

Q1 08

Q208

Q308

Q408

Q109

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q111

Q211

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

Owner user sales sf Average Price Per Bldg sf

Industrial Investment Sales: Investment and Average Price Per Bldg

-

200,000

400,000

600,000

800,000

1,000,000

1,200,000

Q2 07

Q3 07

Q4 07

Q1 08

Q208

Q308

Q408

Q109

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q111

Q211

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

$350.00

Investment sales sf Average Price Per Bldg sf

Industrial Type Average Lease Rates

Distribution, $0.46

Light Indu, $0.55

Incubator, $0.58

Midbay, $0.52

Flex, $0.60

Industrial: Inventory Vacancy Rate vs Average Lease Rate

1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%

10.00%11.00%12.00%13.00%14.00%15.00%16.00%17.00%18.00%

Q1 07

Q2 07

Q3 07

Q4 07

Q1 08

Q208

Q308

Q408

Q109

Q209

Q309

Q409

Q110

Q210

Q310

Q410

Q211

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$0.80

$0.90

Vacacny Rate Lease Rate

ClassificationsIndustrial Buildings can be classified as follows:

Distribution Building:• Over 15,000sf divisibility, 3-5 percent office build-out, docks-hi and grade level loading, minimum 24’ clear height

Flex Building:• Up to 100 percent office build out, grade level loading, minimum 3.5/1,000 parking

Light Industrial:• Mminimum 3,500 – 4,999 sf divisibility, grade level loading

Incubator:• 500-3,500 sf divisibility, minimal office, one roll-up door

Midbay:• 5,000-15,000 sf divisibility, 10-15 percent office build-out, dock high and grade level loading


2Q11


1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q TotalNo. of Existing Net Gross Space Asking Rates * Sublease Gross Space Gross Space Gross Space Gross Space Gross Space Net Net Net Net NetBldgs. SF SF Rate Absorption Leased Median SF Leased Leased Leased Leased Leased Absorption Absorption Absorption Absorption Absorption

Airport

Distribution 111 5,679,406 726,688 12.80% 103,080 214,953 $0.55 - 206,230 214,953 - - 421,183 (20,372) 103,080 - - 82,708

Flex 70 1,854,818 575,626 31.03% (104,225) 12,669 $0.59 - 96,219 12,669 - - 108,888 48,360 (104,225) - - (55,865)

Light Industrial 12 54,084 11,150 20.62% - - $0.72 - - - - - - (11,150) - - - (11,150)

Incubator 78 1,855,122 546,342 29.45% 46,264 67,993 $0.70 - 14,504 67,993 - - 82,497 (214,434) 46,264 - - (168,170)

Midbay 162 3,470,192 779,359 22.46% 45,794 107,822 $0.57 - 119,326 107,822 - - 227,148 (85,549) 45,794 - - (39,755)

Airport Total 433 12,913,622 2,639,165 20.44% 90,913 403,437 $0.59 - 436,279 403,437 - - 839,716 (283,145) 90,913 - - (192,232)

Central

Distribution 110 3,823,767 174,979 4.58% 23,396 51,576 $0.40 - 96,247 51,576 - - 147,823 73,494 23,396 - - 96,890

Flex 10 116,267 16,600 14.28% - - $0.44 - 6,400 - - - 6,400 6,400 - - - 6,400

Light Industrial 3 14,608 4,848 33.19% - - $0.49 - - - - - - - - - - -

Incubator 102 2,059,307 269,697 13.10% (45,526) 21,848 $0.55 - 30,090 21,848 - - 51,938 (43,169) (45,526) - - (88,695)

Midbay 229 2,400,416 218,508 9.10% 22,438 22,438 $0.48 - 44,479 22,438 - - 66,917 (54,919) 22,438 - - (32,481)

Central Total 454 8,414,365 684,632 8.14% 308 95,862 $0.48 - 177,216 95,862 - - 273,078 (18,194) 308 - - (17,886)

Southeast

Distribution 109 7,998,856 966,569 12.08% 18,910 50,679 $0.47 - 187,878 50,679 - - 238,557 (40,131) 18,910 - - (21,221)

Flex 29 476,294 34,321 7.21% (2,516) 522 $0.65 - 23,810 522 - - 24,332 23,810 (2,516) - - 21,294

Light Industrial 13 67,761 8,887 13.12% - - $0.55 - 480 - - - 480 480 - - - 480

Incubator 51 854,926 83,558 9.77% 19,806 36,802 $0.60 - 42,935 36,802 - - 79,737 34,525 19,806 - - 54,331

Midbay 207 2,878,294 614,757 21.36% (58,336) 55,995 $0.46 - 128,610 55,995 - - 184,605 (28,683) (58,336) - - (87,019)

Southeast Total 409 12,276,131 1,708,092 13.91% (22,136) 143,998 $0.55 - 383,713 143,998 - - 527,711 (9,999) (22,136) - - (32,135)

North Las Vegas

Distribution 239 20,798,676 2,517,703 12.11% 501,445 564,945 $0.33 - 554,653 564,945 - - 1,119,598 (435,657) 501,445 - - 65,788

Flex 33 775,957 126,664 16.32% 1,238 13,328 $0.48 8,000 15,869 13,328 - - 29,197 1,183 1,238 - - 2,421

Light Industrial 54 239,519 17,127 7.15% 3,678 3,678 $0.25 - 13,719 3,678 - - 17,397 9,219 3,678 - - 12,897

Incubator 78 1,240,708 463,191 37.33% 50,608 66,917 $0.49 - 73,479 66,917 - - 140,396 18,031 50,608 - - 68,639

Midbay 342 4,770,352 669,346 14.03% 88,685 124,451 $0.35 - 266,385 124,451 - - 390,836 129,926 88,685 - - 218,611

NLV Total 746 27,825,212 3,794,031 13.64% 645,654 773,319 $0.35 8,000 924,105 773,319 - - 1,697,424 (277,298) 645,654 - - 368,356

Speedway

Distribution 9 889,091 102,305 11.51% 27,504 27,504 $0.25 - - 27,504 - - 27,504 (29,167) 27,504 - - (1,663)

Flex 7 346,350 21,483 6.20% - 2,533 $0.27 - 13,571 2,533 - - 16,104 9,788 - - - 9,788

Light Industrial - - - 0.00% - - - - - - - - - - - - -

Incubator 2 26,887 3,743 13.92% - - $0.37 - 2,533 - - - 2,533 2,533 - - - 2,533

Midbay 20 1,314,491 261,339 19.88% (6,870) 20,358 $0.37 - - 20,358 - - 20,358 (91,644) (6,870) - - (98,514)

Speedway Total 38 2,576,819 388,870 15.09% 20,634 50,395 $0.32 - 16,104 50,395 - - 66,499 (108,490) 20,634 - - (87,856)

Northwest

Distribution 8 489,681 169,492 34.61% - - $0.65 - - - - - - - - - - -

Flex 23 374,423 108,348 28.94% 22,819 32,364 $0.60 - 11,412 32,364 - - 43,776 (12,657) 22,819 - - 10,162

Light Industrial - - - 0.00% - - - - - - - - - - - - -

Incubator 10 232,073 42,591 18.35% (25,870) 9,863 $0.47 - 1,298 9,863 - - 11,161 (702) (25,870) - - (26,572)

Midbay 2 143,000 6,400 4.48% 1,702 1,702 $0.71 - - 1,702 - - 1,702 - 1,702 - - 1,702

Northwest Total 43 1,239,177 326,831 26.37% (1,349) 43,929 $0.63 - 12,710 43,929 - - 56,639 (13,359) (1,349) - - (14,708)

Southwest

Distribution 127 11,725,919 1,267,017 10.81% (186,712) 160,298 $0.55 9,962 41,784 160,298 - - 202,082 (160,583) (186,712) - - (347,295)

Flex 104 2,810,027 543,544 19.34% 70,951 102,276 $0.79 2,000 128,551 102,276 - - 230,827 27,740 70,951 - - 98,691

Light Industrial 39 293,140 53,386 18.21% - - $0.55 - 6,505 - - - 6,505 2,905 - - - 2,905

Incubator 123 2,506,626 315,051 12.57% 32,484 66,066 $0.60 - 64,389 66,066 - - 130,455 (23,870) 32,484 - - 8,614

Midbay 457 7,723,457 1,458,895 18.89% 58,165 161,003 $0.55 - 283,859 161,003 - - 444,862 95,259 58,165 - - 153,424

Southwest Total 850 25,059,169 3,637,893 14.52% (25,112) 489,643 $0.55 11,962 525,088 489,643 - - 1,014,731 (58,549) (25,112) - - (83,661)

West

Distribution 75 3,135,098 655,012 20.89% 43,418 44,732 $0.44 - 43,733 44,732 - - 88,465 14,733 43,418 - - 58,151

Flex 40 1,108,495 192,056 17.33% (7,749) 26,177 $0.80 - 18,328 26,177 - - 44,505 (25,540) (7,749) - - (33,289)

Light Industrial 10 117,328 19,871 16.94% (4,000) - $0.60 - 14,871 - - - 14,871 14,871 (4,000) - - 10,871

Incubator 146 3,843,904 650,748 16.93% (34,268) 52,913 $0.61 - 150,901 52,913 - - 203,814 6,222 (34,268) - - (28,046)

Midbay 242 3,490,596 597,826 17.13% 57,018 80,068 $0.63 16,920 90,033 80,068 - - 170,101 (77,363) 57,018 - - (20,345)

West Total 513 11,695,421 2,115,513 18.09% 54,419 203,890 $0.61 16,920 317,866 203,890 - - 521,756 (67,077) 54,419 - - (12,658)

Distribution 788 54,540,494 6,579,765 12.06% 531,041 1,114,687 $0.46 9,962 1,130,525 1,114,687 - - 2,245,212 (597,683) 531,041 - - (66,642)

Flex 316 7,862,631 1,618,642 20.59% (19,482) 189,869 $0.60 10,000 314,160 189,869 - - 504,029 79,084 (19,482) - - 59,602

Light Industrial 131 786,440 115,269 14.66% (322) 3,678 $0.55 - 35,575 3,678 - - 39,253 16,325 (322) - - 16,003

Incubator 590 12,619,553 2,374,921 18.82% 43,498 322,402 $0.58 - 380,129 322,402 - - 702,531 (220,864) 43,498 - - (177,366)

Midbay 1,661 26,190,798 4,606,430 17.59% 208,596 573,837 $0.52 16,920 932,692 573,837 - - 1,506,529 (112,973) 208,596 - - 95,623

Las Vegas Total 3,486 101,999,916 15,295,027 15.00% 763,331 2,204,473 $0.55 36,882 2,793,081 2,204,473 - - 4,997,554 (836,111) 763,331 - - (72,780)

Note: Due to reclassifications of, and adjustments to, data between reporting periods, the commercial market data for the latest quarter may not necessarily be comparable to a previously reported quarter.

Commerce Real Estate Solutions a Cushman & Wakefield AllianceLas Vegas Industrial Market Report Q2 2011

Pricing Total YTD Gross Space Leased Total YTD Net Absorption

Inventory Vacancy

Asking Media Lease rates is the media of all lease rates that are asking, published prices.

Demand & SupplyVacancy


2Q11



2Q11


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Cushman & WakefieldCushman & Wakefield is the world’s largest privately-held commercial real estate services firm. Founded in 1917, it has 234 offices in 61 countries and more than 13,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within five primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, investment banking, debt and equity financing; Corporate Occupier & Investor Services, including integrated real estate strategies for large corporations and property owners; Consulting Services, including business and real estate consulting; and Valuation & Advisory, including appraisals, highest and best use analysis, dispute resolution and litigation support, along with specialized expertise in various industry sectors. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com.

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AS OF MARCH 2011

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China BeijingChengduGuangzhou Hong KongShanghaiShenzhen

FijiIndia Bangalore ChennaiGurgaonHyderabadKolkataMumbai – CityMumbai – SuburbsNew DelhiPune

IndonesiaJakarta

JapanTokyo

MalaysiaKuala Lumpur

New ZealandAuckland Wellington

PakistanKarachi

PhilippinesManila

Singapore South KoreaBusanSeoul

TaiwanTaipei

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Commerce | Full Service Commercial Real Estate Solutions


2Q11


Las Vegas Industrial Team

Leo Biedermann Susan Borst, CCIM Desiree Crisp Tom Elkington

Art Farmanali, SIOR Linda Gonzales Laura Hart Amy Ogden

Danielle Steffen Bill Walsh Dean Willmore, SIOR


2Q11


The Las Vegas OfficeGIS / Mapping DepartmentThe GIS / Mapping services group provides our agents and clients with the most current information available. Using GIS (Geographic Information Services) allows our clients a unique opportunity to visualize where their property is located. Additional market information includes:

Daily traffic count information•

Local drive times•

Demographic information•

Population growth•

Major tenants in the region and trade areas•

Some clients that have benefited from our mapping / GIS technology are; Wal-Mart, JoAnn’s, Carmax, Toys-R-Us, Discount Tire, Lowe’s Home Improvement, Shoe Carnival, Chase Bank, Staples, PacifiCorp, GSA, Intel, Fidelity Investments, Social Security Administration, Salt Lake City School District and JP Morgan Bank.

Research DepartmentThe Commerce Real Estate Solutions Research team is charged with tracking the Utah, Nevada and Seattle commercial real estate markets and providing current market information. With access to industry databases and prime real estate tools, the research team is well-equipped to support the information needs of the local offices.

The Las Vegas researcher tracks leasing activity for 182 million square feet of office, medical office, industrial and retail properties.

In addition to tracking local properties, the research team prepares quality market reports and research economic and demographic trends. Working in tandem with the other office specialty support groups such as mapping, graphic design and marketing, the Research team strives to provide timely and quality information to enable Commerce professionals to better serve their clients.

Marketing DepartmentThe graphic design department at Commerce Real Estate Solutions employs eight full time graphic designers. Each of our designers has a number of years of experience.

Chris Valentin, the design director, has been with Commerce Real Estate Solutions for over fourteen years, and along with Matt Liapis, who has taught graphic design and mapping at the University of Utah. Our Las Vegas office consists a team of two well trained and professional designers with a combined 12 plus years of experience.

The founding principal behind the design department is “to provide our agents with whatever materials necessary to successfully market their projects”. This resource allows us to vividly show the retail prospect why they need to be located in a certain segment of town. This department uses the latest in Adobe design programs, and is integrated with our mapping and research departments.

Web: www.comre.comCommerce Real Estate Solutions was at the forefront in the use of the World Wide Web by commercial real estate firms and has maintained a web site for over ten years. All of our commercial properties are listed and searchable by use, size, price, and location.

In addition to commercial properties, our Web site has agent profiles, information about Commerce Real Estate Solutions offices throughout the intermountain west, a company history, and links to valuable information including a link to the Cushman and Wakefield Web site. The Web site also has downloadable copies of all our Market Reviews dating back to 1996.

2 q11 market beat industrial lv

Documents

market market

las vegasend

national unemployment

unemployment rate increases

job losses

industrial vacancy rates

current vacancy rate

signs of afirst quarter