coldwell banker commercial market comparison report ranks denver as top commercial real estate...
TRANSCRIPT
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Top
2014 MARKETS COMPARED BY 5 FACTORS
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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The Coldwell Banker Commercial ® brand took on the task of finding the
‘Top Markets’ for Commercial Real Estate.
Over 80 markets were ranked on
2
categories for each property sector (Office, Retail, Multi-Family),
Then2
additional final categories:
% Change in Vacancyfrom Q3 2013 and Q3 2014 within the market1
% Change in Rental Ratesfrom Q3 2013 and Q3 2014 within the market1
% Change in Populationfrom Q3 2013 and Q3 2014 within the market1
% Change in Unemploymentfrom Sep 2013 and Sep 2014 within the market2
1– source: Reis—market reports Q3 2014
2—source: Bureau of Labor Statistics—unemployment report Sep 2014
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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1. Denver, CO
2. San Francisco, CA
3. Houston, TX
4. Dallas, TX
5. San Jose, CA
6. Phoenix, AZ
7. San Antonio, TX
8.
Las Vegas, NV
9. Austin, TX
10. Orange County, CA
11. Colorado Springs, CO
12. Miami, FL
12. Sacramento, CA
14. Palm Beach, FL
15. San Diego, CA
16. Fort Worth, TX
17. Fort Lauderdale, FL
18. Oakland-East Bay, CA
19. Orlando, FL
20. Atlanta, GA
21. Boston, MA
22. New York Metro, NY
23. Cincinnati, OH
23. Tampa-St. Petersburg, FL
25. Louisville, KY
26. Minneapolis, MN
27. San Bernardino/Riverside, CA
28. Los Angeles, CA
29. Dayton, OH
30. Charlotte, NC
31. Tulsa, OK
32. Omaha, NE
33. Chicago, IL
33. Seattle, WA
35. Portland, OR
36. Philadelphia, PA
37. Charleston, SC
37. Long Island, NY
39. Salt Lake City, UT
40. Columbus, OH
40. Oklahoma City, OK
42. Raleigh-Durham, NC
43. Hartford, CT
43. Nashville, TN
45. Central New Jersey, NJ
45. St. Louis, MO
47. Cleveland, OH
48. District of Columbia, DC
49. Baltimore, MD
50. Indianapolis, IN
50. Tacoma, WA
52. Pittsburgh, PA
53. Ventura County, CA
54. Knoxville, TN
55. Lexington, KY
56. Greensboro/Winston-Salem,
56. Suburban Virginia, VA
58. Little Rock, AR
58. Providence, RI
60. Columbia, SC
61. Memphis, TN
62. Birmingham, AL
63. Northern New Jersey, NJ
64. Westchester, NY
65. Jacksonville, FL
66. Suburban Maryland, MD
67. Detroit, MI
68. New Haven, CT
69. Syracuse, NY
70. Richmond, VA
71. Kansas City, MO
72. Buffalo, NY
73. Wichita, KS
74. Rochester, NY
75. Albuquerque, NM
76. Chattanooga, TN
77. Greenville, SC
78. Tucson, AZ
79. Milwaukee, WI
80. Fairfield County, CT
81. New Orleans, LA
82. Norfolk/Hampton Roads, VA
Top Commercial RE Markets Total
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro FinalRank
2013Rank
Diff ‘13-’14 Rank
OfficeRank
RetailRank
MFRank
PopRank
UnempRank
CumulativeScore
Denver, CO 1 10 -9 8 4 28 11 1 52 View List
San Francisco, CA 2 22 -20 1 1 17 35 23 77 View List
Houston, TX 3 4 -1 26 13 2 8 30 79 View List
Dallas, TX 4 3 1 16 11 13 4 39 83 View List
San Jose, CA 5 14 -9 2 6 1 60 22 91 View List
Phoenix, AZ 6 19 -13 20 5 11 12 50 98 View List
San Antonio, TX 7 21 -14 21 27 41 6 20 115 View List
Las Vegas, NV 8 18 -10 59 18 25 7 7 116 View List
Austin, TX 9 7 2 10 26 55 1 31 123 View List
Orange County, CA 10 11 -1 5 23 16 40 43 127 View List
Colorado Springs, CO 11
30
-19
34 57 22 15 2 130 View ListMiami, FL 12 38 -26 7 15 5 52 52 131 View List
Sacramento, CA 12 46 -34 38 15 9 33 36 131 View List
Palm Beach, FL 14 15 -1 23 41 7 13 52 136 View List
San Diego, CA 15 6 9 14 35 30 25 33 137 View List
Fort Worth, TX 16 9 7 40 52 4 3 39 138 View List
Fort Lauderdale, FL 17 27 -10 49 2 19 20 52 142 View List
Oakland-East Bay, CA 18 20 -2 13 48 8 51 23 143 View List
Orlando, FL 19 1 18 32 10 50 2 58 152 View List
Atlanta, GA 20 25 -5 12 39 5 18 79 153 View List
Boston, MA
21 41 -20
3
20
48
28
56
155 View List
New York Metro, NY 22 48 -26 29 30 38 48 11 156 View List
Cincinnati, OH 23 51 -28 35 29 30 59 5 158 View List
Tampa-St. Petersburg, FL 23 31 -8 11 12 35 39 61 158 View List
Louisville, KY 25 47 -22 26 2 61 63 8 160 View List
Minneapolis, MN 26 5 21 25 30 55 34 19 163 View List
San Bernardino/Riverside, CA 27 43 -16 24 59 14 28 43 168 View List
Los Angeles, CA 28 42 -14 4 7 67 53 38 169 View List
Dayton, OH 29 81 -52 51 20 23 77 4 175 View List
Charlotte, NC 30 16 14 29 43 50 5 49 176 View List
Tulsa, OK 31 34 -3 53 23 30 31 41 178 View List
Omaha, NE 32 36 -4 26 64 3 20 69 182 View List
Chicago, IL 33 63 -30 21 73 19 64 6 183 View List
Seattle, WA 33 12 21 5 65 28 19 66 183 View List
Portland, OR 35 2 33 18 39 39 36 62 194 View List
Philadelphia, PA 36 75 -39 42 52 18 66 17 195 View List
Charleston, SC 37 13 24 29 23 45 23 77 197 View List
Long Island, NY 37 77 -40 42 33 45 66 11 197 View List
Salt Lake City, UT 39 17 22 46 76 41 16 26 205 View List
Columbus, OH 40 32 8 72 47 41 45 3 208 View List
Oklahoma City, OK 40 45 -5 58 52 45 22 31 208 View List
Top Markets: Rankings Source: Reis—market reports Q3 2
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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The Dallas / Fort Worth (DFW) Metropolitan Statistical area is the fourth largest MSA in thecountry (behind NYC, LA, and Chicago), and over the last decade its population increasedby over 1.3 million people, making it one of the fastest growing metropolitan areas in theUnited States. On top of this, experts project the DFW population to increase an additional37% to over 9.2 million people by 2030. This population boom has mitigated the 2008recession’s effect on real estate, and has provided steady business/job growth.
In late 2013, the Milken Institute ranked the DFW economy among the top 20 globaleconomies in the world. This economy is diverse and consistently growing; it added 67,100net new jobs last year. Also, 18 Fortune 500 companies are headquartered in the DFWMetroplex. With its steady job growth, low cost of living, broad variety of entertainmentoptions, and rapidly growing public transportation system, the sprawling DFW Metroplexhas become an attractive place to live and work.
Gary Walker, Coldwell Banker Commercial Alliance, Arlington, TX
Dallas, TX
Here are a few thoughts from independent professional agents affiliated with the Coldwell Banker
Commercial ® organization on why their market is in the top 10.
San Antonio, as most of Texas, has been experiencing an unprecedented rate of domesticand foreign immigration over the past 5 years, which has helped shelter our economy fromthe worst effects of the downturn experienced by most of the country. The Texas politicalclimate supports a ‘Pro-Business Environment’ encouraging business expansion and jobgrowth.
The area has been able to maintain an unemployment rate below 6%, and now is hoveringabout 5.3%, for several years. A couple of the leading factors contributing to this growth arethe U.S. Armed Forces, and the discovery and development of the Eagle Ford Shale, oneof the leading Oil and Gas developments in recent history. San Antonio has also recentlybeen identified as the number 1 tourist destination in Texas.
Nick Rispoli, Coldwell Banker Commercial Alamo City, San Antonio, TX
San Antonio, TX
Quotes from Top 10 Markets
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro FinalRank
2013Rank
Diff ‘13-’14 Rank
OfficeRank
RetailRank
MFRank
PopRank
UnempRank
CumulativeScore
Raleigh-Durham, NC
42 8 34 36 56 52 9 57 210 View ListinHartford, CT 43 39 4 9 50 52 79 21 211 View Listin
Nashville, TN 43 26 17 61 67 11 30 42 211 View Listin
Central New Jersey, NJ 45 40 5 45 22 78 57 11 213 View Listin
St. Louis, MO 45 79 -34 18 28 25 72 70 213 View Listin
Cleveland, OH 47 80 -33 17 13 55 82 47 214 View Listin
District of Columbia, DC 48 66 -18 14 45 82 10 71 222 View Listin
Baltimore, MD 49 35 14 32 9 72 50 65 228 View Listin
Indianapolis, IN 50 37 13 70 74 55 24 10 233 View Listin
Tacoma, WA 50 28 22 64 37 21 45 66 233 View Listin
Pittsburgh, PA 52 67 -15 67 57 34 72 9 239 View Listin
Ventura County, CA 53 53 0 72 45 41 42 43 243 View Listin
Knoxville, TN 54 29 25 79 71 9 37 48 244 View Listin
Lexington, KY 55 72 -17 80 35 68 49 16 248 View Listin
Greensboro/Winston-Salem, NC 56 44 12 65 30 49 61 46 251 View Listin
Suburban Virginia, VA 56 58 -2 74 18 74 14 71 251 View Listin
Little Rock, AR 58 60 -2 66 37 80 40 29 252 View Listin
Providence, RI 58 69 -11 78 44 23 70 37 252 View Listin
Columbia, SC 60 55 5 38 52 68 17 78 253 View Listin
Memphis, TN 61 64 -3 46 50 62 43 55 256 View Listin
Birmingham, AL
62
62
0
76
17
35
55
74
257
View ListinNorthern New Jersey, NJ 63 52 11 41 78 66 62 11 258 View Listin
Westchester, NY 64 74 -10 69 49 75 58 11 262 View Listin
Jacksonville, FL 65 24 41 77 72 25 26 63 263 View Listin
Suburban Maryland, MD 66 71 -5 61 8 79 47 71 266 View Listin
Detroit, MI 67 61 6 42 41 39 81 64 267 View Listin
New Haven, CT 68 56 12 52 62 60 78 18 270 View Listin
Syracuse, NY 69 59 10 36 70 76 66 28 276 View Listin
Richmond, VA 70 33 37 56 59 52 38 80 285 View Listin
Kansas City, MO 71 57 14 48 80 35 44 82 289 View Listin
Buffalo, NY 72 54 18 81 34 68 74 35 292 View Listin
Wichita, KS 73 76 -3 60 82 15 76 60 293 View Listin
Rochester, NY 74 50 24 67 68 59 69 34 297 View Listin
Albuquerque, NM 75 78 -3 55 65 30 80 68 298 View Listin
Chattanooga, TN 76 82 -6 63 59 63 56 59 300 View Listin
Greenville, SC 77 23 54 54 75 71 26 76 302 View Listin
Tucson, AZ 78 68 10 81 77 63 32 51 304 View Listin
Milwaukee, WI 79 73 6 75 68 73 71 25 312 View Listin
Fairfield County, CT 80 65 15 57 79 76 75 26 313 View Listin
New Orleans, LA 81 70 11 50 81 65 65 81 342 View Listin
Norfolk/Hampton Roads, VA 82 49 33 71 63 81 54 75 344 View Listin
Top Markets: Rankings Source: Reis—market reports Q3 2
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re=Rochester%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Wichita%2C+KS#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Buffalo%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Kansas+City%2C+MO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Richmond%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Syracuse%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=New+Haven%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Detroit%2C+MI#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Bethesda%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Jacksonville%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Westchester%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Morristown%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Birmingham%2C+AL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Memphis%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Columbia%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Providence%2C+RI#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Little+Rock%2C+AR#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Arlington%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Greensboro%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Lexington%2C+KY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Knoxville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Ventura+County%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Pittsburgh%2C+PA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tacoma%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Indianapolis%2C+IN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Baltimore%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Washingin%2C+DC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Cleveland%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=St.+Louis%2C+MO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Trenton%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Nashville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Hartford%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Raleigh%2C+NC#t=0
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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By nearly all accounts, Greater New Orleans is a great place to live, work, and raise a family. Ineconomic development, the area is at its highest point, in every economic ranking, in history. Recently,the state was ranked #2 Business Climate in the USA - the highest position ever. Encouragingly, talentedpeople are voting with their feet, choosing this region to build a career and start a family.
In fact, Louisiana has enjoyed six straight years of net in -migration for the first time in decades, accordingto the U.S. Census Bureau. And as more and more people make New Orleans their home, their talentscome with them, evidenced by the city's ranking as #1 for in -migration for workers in their prime,
according to Forbes. Families can also do more with less in New Orleans, which was recently ranked inthe top 5 most affordable households in the USA by Intuit as well as America's Favorite City by Traveland Leisure.
Mark Inman, JD, CCIM, Coldwell Banker Commercial TEC, New Orleans, LA
New Orleans, LA
With any survey, the results will depend on what variables you look at and how you look at them. That's why we sp
to independent agents in a few markets ranked in the bottom 10 to get their views about the positives in their mark
Greenville, SC is located equidistant between Atlanta and Charlotte, NC in the Charlanta Corridor, one ofthe mega corridors predicted to dominate future commercial activity in the US. This area is experiencingcontinued growth in the Office, Retail and Industrial sectors.
The Greenville/ Spartanburg markets enjoy the highest per capita foreign investment in North America aswas named Top 50 Cities for Global Trade by Global Trade Magazine. This area has headquarters andmanufacturing companies like Michelin, GE Energy, BMW (all X Models are produced here with 70%going abroad), Bosch and Flour, to name a few.
Greenville was named the 5th Fastest Growing U.S. City by CNN, Top Ten Best America Downtown byForbes and the 3rd Strongest Job Market by Bloomberg Business. Trammell Crow has just announced a400,000 SF mixed use project on Main Street which joins over 100 restaurants, the majority of which areunique and locally owned. Downtown Greenville is experiencing an explosion of multifamily with 1,000units under construction and another 1,000 about to break ground. Condominiums are once again under
construction along the river that bisects Main and heads over a 42 foot waterfall beneath a 380 ft.suspension bridge.
A sampling of new retail includes Anthropologie, Brooks Brothers, Orvis, Dave and Busters, Cabelas,Nordstrom Rack and Bass Pro Shops. With the completion of the Inland port, Greenville is nowconnected by rail to the Port of Charleston, SC and is becoming a major logistics center with truck serviceto 70% of the US population in one day. Currently demand exceeds supply for quality industrial space.
Brad Halter, GRI, Coldwell Banker Commercial Caine, Greenville, SC
Greenville, SC
Market Rebuttals
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Office
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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1) San Francisco, CA
The 91-million
-SF San Francisco West Bay general purpose, multi
-tenant office market moved strongly ahead in Q2 of 2014.
While Reis data supports the idea that the market is landlord favorable, it does not show the sort of manic conditions seenhere in the past. The vacancy rate is still above 10.0%, compared with just 2.0% at year -end 1999, and rent gains over thepast year have been just under 5.0%, compared with gains in excess of 50.0% in 2000 and in excess of 15.0% in 2007. Othermarket watchers, however, report frantic conditions. “The average asking commercial rent in San Francisco has jumped by80.0% over the last four years and continues to grow at a very fast pace,” according to the San Francisco Business Times,making this the “hottest office real estate market by far in the Unites States and arguably in the world right now .”1 YTD $7.3 billion in sales 102 Transactions2
2) San Jose, CA
Another tech boom is under way. A related boom in office development has followed in its wake. By Reis’ count, the deliveryof 1.55 million SF of new competitive office product last year met with 1.78 million SF of net absorption. As the boomcontinued, demand fell arrears of new supply during the first half of 2014—957,000 absorbed net versus some 1.23 millionSF of newly completed construction. July- August followed with 630,000 SF of new supply and 756,000 in net absorption.
Included in the new supply were three buildings with a combined total of 581,400 SF completed in Sunnyvale in August forsocial media giant LinkedIn. A 125,000-SF fourth building at the same complex is under construction for the firm forcompletion in December. Other major recent deliveries include 465,800 SF in three projects at The Irvine Company’s SantaClara Gateway in Santa Clara in April. A total of 466,000 SF completed in three phases of the development last year. 1 YTD $2.0 billion in sales 59 Transactions2
3) Boston, MA
The 128-million-SF Boston general purpose, multi-tenant office market paused in the second quarter of 2014, with slightlynegative net absorption after a series of strongly positive quarters. Rents continued rising at a moderate pace. This markethas never recovered the vitality of the 1980s and 1990s despite record employment levels, as structural trends, such as thedecrease in space per worker, have offset the job gains. Limited new supply and the removal of inventory in office toresidential conversions, however, have kept the market relatively healthy.1 YTD $7.3 billion in sales 131 Transactions2
4) Los Angeles, CA
The 196-million-SF Los Angeles general purpose, multi-tenant office market continued to struggle forward in the secondquarter. Rents showed solid quarterly growth, but vacancy remained in the double-digits, keeping the overall marketperformance down. The Class A rate of 14.1% is unchanged over the quarter and down 130 basis points over 12 months.The Class A space gives the appearance that the market is healthier than it is.1
YTD $6.3 billion in sales 214Transactions2
5) Orange County, CA
The sluggish recent job growth seen in Orange County has been accompanied by a slowdown in demand for office spaceand a slow recovery overall for the market, which was badly mauled by the recession and its impacts on the large financialsector tenant base. Office-using firms have been adding employees, but at a slower pace in the last several quarters. Thedecline in the vacancy rate seen during the recent period has effectively stalled. Rents, however, show greater vigor, andinvestor acquisition of office properties has remained robust. Recent construction has consisted mainly of a couple of major
build-to
-suit projects; speculative development in significant volume has not returned—with the exception of a single majordevelopment under way in Newport Beach. Others, however, are moving forward.1
YTD $1.4 billion in sales 81 Transactions2
5) Seattle, WA
Citing the expanding presence of Amazon.com, a recent study by The Brookings Institution called the South Lake Union area“an example of an ‘Innovation District,’ where one major anchor tenant… draws hundreds of other businesses, retailers,residential, and commercial developments,” Moreover, a massive 3.1-millionsquare- foot, 38-story, three-tower campus isunder development for the online retailer in the nearby Denny Triangle area. 1 YTD $1.2 billion in sales 56 Transactions2
Sources: 1-Reis; 2 -Real Capital Analytics Top 5 Ranked Office Markets
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro Q3 2014Vac %
% ChangeQ3 ‘13-Q3 ‘14
VacRank
AskingRent $
%Change RentQ3 ‘13-Q3 ‘14
RateRank
FinalRank
San Francisco, CA
12.2 -
8.27%
2
$45.92 5.10%
3 1
San Jose, CA 17.7 -4.84% 8 $33.76 6.53% 1 2
Boston, MA 13.2 -5.04% 7 $38.33 3.48% 7 3
Los Angeles, CA 14.9 -6.29% 5 $33.83 3.30% 10 4
Orange County, CA 16.7 -3.47% 15 $28.44 3.61% 6 5 Seattle, WA 13.2 -3.65% 13 $30.90 3.45% 8 5
Miami, FL 16.1 -4.73% 9 $30.92 1.54% 19 7 Denver, CO 16.9 -3.43% 16 $22.59 2.03% 13 8
Hartford, CT 20.3 -5.14% 6 $21.54 1.17% 28 9
Austin, TX 16.0 -2.44% 22 $27.11 1.99% 14 10
Tampa-St. Petersburg, FL
21.4
-3.60%
14
$21.63 1.41%
23
11
Atlanta, GA 19.7 -3.43% 16 $21.93 1.34% 24 12 Oakland-East Bay, CA 17.6 -1.68% 31 $26.81 2.09% 12 13
District of Columbia, DC 9.4 -2.08% 28 $50.99 1.74% 17 14 San Diego, CA 16.1 -1.23% 36 $29.55 3.36% 9 14
Dallas, TX 23.1 0.00% 45 $21.31 5.18% 2 16 Cleveland, OH 23.1 -3.75% 12 $18.84 0.80% 41 17
Portland, OR 13.5 -0.74% 38 $22.20 1.65% 18 18 St. Louis, MO 17.6 -1.68% 31 $20.81 1.27% 25 18
Phoenix, AZ 25.5 -0.39% 43 $22.95 1.91% 16 20
Chicago, IL
18.7
0.00%
45
$28.53 1.97%
15 21
San Antonio, TX 17.5 -3.31% 18 $20.42 0.79% 42 21
Palm Beach, FL 17.6 -7.85% 3 $28.56 0.56% 59 23 San Bernardino/Riverside, CA 23.6 -1.67% 33 $21.51 1.08% 30 24
Minneapolis, MN 16.8 -2.89% 20 $22.49 0.76% 45 25 Houston, TX 14.4 1.41% 62 $26.81 4.44% 4 26
Louisville, KY 15.5 -1.90% 30 $16.52 0.98% 36 26 Omaha, NE 15.2 -3.18% 19 $17.40 0.75% 47 26
Charleston, SC 14.3 -6.54% 4 $21.58 0.42% 66 29 Charlotte, NC 17.7 -0.56% 41 $22.16 1.14% 29 29
New York Metro, NY
9.9
2.06%
65
$63.51 3.84%
5
29
Baltimore, MD 16.5 0.00% 45 $23.68 1.20% 26 32 Orlando, FL 17.4 -4.40% 10 $21.54 0.51% 61 32
Colorado Springs, CO 18.7 -4.10% 11 $16.57 0.49% 63 34 Cincinnati, OH 20.4 -1.92% 29 $18.83 0.75% 47 35
Raleigh-Durham, NC 15.2 0.66% 58 $20.67 1.47% 21 36 Syracuse, NY 14.9 -8.59% 1 $15.97 0.00% 78 36
Columbia, SC 17.9 -2.19% 26 $16.04 0.63% 54 38
Sacramento, CA 20.8 -2.35% 23 $23.85 0.59% 57 38
Fort Worth, TX 16.5 1.23% 61 $19.92 1.48% 20 40 Northern New Jersey, NJ 18.7 0.00% 45 $28.08 0.97% 37 41
Top Markets: OFFICE RANKS Source: Reis—market reports Q3 2
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Retail
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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1) San Francisco, CA
Rent gains have started to accelerate in both the West Bay’s small 9.7– million SF community-neighborhood shopping center
market and the power center market, according to second quarter data from Reis. The vacancy rate is about as low as it cango, but new supply is picking up by the standards of this constricted market. Demand is currently being driven by retailersseeking either newly developed space or Class A product. The retail space added last year throughout the broader Bay Areawas overwhelmingly pre-leased before completion and what little was vacant upon delivery didn’t stay empty for long. 1 YTD $621million in sales 68 Transactions2
2) Fort Lauderdale, FL
With favorable demand and a virtual lack of recent new construction, the health of the Broward County community -neighborhood shopping center retail market has continued to improve. With no new space delivering during the first half of2014, net absorption ran at 162,000 SF The total for the second quarter alone was 20,000. July, also with no additions tosupply, saw net absorption at 9,000 SF. Community-neighborhood sector vacancy ended the latest quarter at 10.1%, a declineof 10 basis points for the period, a loss of 60 year -over -year. The national second quarter same property rate, for the sake of
perspective, was similar at 10.3%. Rent growth, running at about 2.0% per year on average over the past two years, isaccelerating. At $19.57 psf and $16.64 psf, average asking and effective lease rates for the second quarter were up 0.8% eachfor the period, following gains at and near 1.0% the quarter before. July followed with increases of 0.1% for both mean rentsand no change in the vacancy rate.1 YTD $601 million in sales 54 Transactions (Broward County) 2
2) Louisville, KY
Rents posted another increase in the second quarter of 2014 in Louisville’s community neighborhood shopping center market.Reis reports asking and effective rents of $16.15 psf and $14.22 psf, up 0.8% and 0.9% from the previous quarter and up 1.3%and 1.5%, respectively, over 12 months. Monthly data from Reis show 0.3% and 0.4% asking and effective rent gains in July,followed by 0.1% gains for both measures in August. Asking and effective gains of 2.5% and 2.6% are forecast for 2014,followed by 2.9% gains by both measures in 2015. For 2016 Reis forecasts a notable 4.0% gain in asking rents1
3) Denver, COThe Denver area retail real estate market remains sluggish on the development front but is relatively healthy otherwise. Positivenet absorption in the community-neighborhood shopping center market, through far from spectacular, is driving a downwardtrend in the vacancy rate. And power center vacancy now runs below the national same product rate. Rent growth has beenmixed but substantially positive. Current and planned development, meanwhile, consist mainly of transit-oriented developments(TODs), retail components within mixed-use and residential projects, and residential expansions and redevelopment. The majorexception is a 900,000-SF lifestyle center moving through the planning stages in south suburban Castle Rock. Nationalretailers, such as Trader Joe’s and Cabela’s, have opened multiple stores in the region with more on the way—andinternational retailers, such as H&M and IKEA, have come as well. One observer expects an increase in speculative retaildevelopment.1
YTD $560 million in sales 71 Transactions2
4) Phoenix, AZ
There may be no greater sign of the change that has taken place in the Phoenix area economy and its real estate markets thanthe dramatic decline in development seen in the retail sector. Not long ago, millions of SF could be found under construction at
any given time as the expanding highway network spread through the region’s sprawling and expanding suburbs, bringing
eager and optimistic development in its wake. But barely half a million SF of retail space of all types came online last year. A
still smaller sum is expected for 2014. That said, the community-neighborhood shopping center and power center markets as
tracked by Reis show favorable, if unspectacular, trends. Vacancies are low to moderate and are declining, rent growth is
modest but positive, and construction activity is slowly (and prudently) increasing .1
YTD $707 million in sales 108 Transactions2
Sources: 1-Reis; 2 -Real Capital Analytics Top 5 Ranked Retail Markets
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro Q3 2014Vac %
% ChangeQ3 ‘13-Q3 ‘14
VacRank
AskingRent $
%Change RentQ3 ‘13-Q3 ‘14
RateRank
FinalRank
San Francisco, CA
3.3 -
15.38%
2
$34.12 2.90%
4 1
Fort Lauderdale, FL 10.0 -5.66% 15 $19.65 2.72% 10 2
Louisville, KY 9.3 -6.06% 14 $16.28 2.58% 11 2 Denver, CO 10.8 -7.69% 7 $17.45 2.05% 19 4
Phoenix, AZ 10.2 -6.42% 12 $19.24 2.18% 16 5 San Jose, CA 4.5 -21.05% 1 $31.89 1.69% 32 6
Los Angeles, CA 5.9 -4.84% 20 $30.22 2.44% 14 7
Suburban Maryland, MD 8.3 -6.74% 10 $25.91 1.97% 25 8 Baltimore, MD 6.4 -7.25% 8 $21.95 1.81% 29 9
Orlando, FL 12.3 -3.15% 33 $18.17 2.89% 6 10
Dallas, TX
12.8 -
4.48%
22
$17.11 2.03%
21 11
Tampa-St. Petersburg, FL 11.0 -6.78% 9 $14.56 1.53% 36 12 Houston, TX 11.7 -2.50% 37 $16.86 2.80% 9 13
Cleveland, OH 14.7 -3.29% 29 $15.26 2.14% 17 13
Miami, FL 7.0 -1.41% 45 $25.18 2.90% 4 15
Sacramento, CA 11.2 -8.94% 5 $22.27 1.32% 44 15
Birmingham, AL 14.1 -6.62% 11 $14.98 1.42% 39 17 Las Vegas, NV 12.2 -2.40% 39 $21.65 2.51% 12 18
Suburban Virginia, VA 5.6 -15.15% 3 $28.23 1.18% 48 18 Boston, MA 6.5 -1.52% 44 $22.71 2.81% 8 20
Dayton, OH
15.7 -
3.09%
34
$10.82 2.08%
18
20
Central New Jersey, NJ 9.8 -3.92% 23 $22.98 1.77% 31 22
Charleston, SC 10.9 0.00% 56 $13.92 2.96% 2 23
Orange County, CA 5.3 -5.36% 17 $31.56 1.35% 41 23
Tulsa, OK 15.5 -5.49% 16 $11.37 1.34% 42 23
Austin, TX 6.6 0.00% 55 $21.12 2.87% 7 26 San Antonio, TX 11.1 -1.77% 42 $15.23 2.01% 22 27
St. Louis, MO 12.2 -3.17% 32 $14.99 1.56% 35 28 Cincinnati, OH 12.5 -5.30% 18 $14.99 1.15% 50 29
Minneapolis, MN 10.9 0.00% 56 $18.31 2.40% 15 30 Greensboro/Winston-Salem, NC 11.5 -0.86% 51 $14.48 2.04% 20
30
New York Metro, NY 30
Long Island, NY 5.5 3.77% 73 $26.75 2.92% 3 33 Buffalo, NY 13.4 -3.60% 24 $12.15 1.08% 53 34
San Diego, CA 6.3 1.61% 65 $29.49 2.47% 13 35 Lexington, KY 8.3 -4.60% 21 $14.12 0.93% 57 35
Tacoma, WA 12.9 10.26% 78 $19.43 3.30% 1 37 Little Rock, AR 11.7 -7.87% 6 $12.71 0.08% 73 37
Portland, OR 7.9 -2.47% 38 $20.55 1.33% 43 39 Atlanta, GA 13.2 -5.04% 19 $17.47 0.75% 62 39 Detroit, MI 11.6 0.00% 56 $17.30 1.88% 26 41
Top Markets: Retail RANKS Source: Reis—market reports Q3 2
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro Q3 2014Vac %
% ChangeQ3 ‘13-Q3 ‘14
VacRank
AskingRent $
%Change RentQ3 ‘13-Q3 ‘14
RateRank
FinalRank
Palm Beach, FL
10.6 -
13.11%
4
$21.69-0.37%
78
41
Charlotte, NC 10.0 -0.99% 50 $18.38 1.66% 33 43 Providence, RI 11.9 -6.30% 13 $20.95 0.19% 71 44
Ventura County, CA 8.7 -1.14% 47 $29.15 1.36% 40 45 District of Columbia, DC 45
Columbus, OH 15.9 0.63% 62 $13.03 1.88% 26 47 Oakland-East Bay, CA 6.2 -1.59% 43 $28.48 1.21% 47 48
Westchester, NY 8.0 1.27% 63 $36.80 1.83% 28 49
Hartford, CT 9.9 2.06% 68 $18.01 1.98% 24 50 Memphis, TN 11.7 -3.31% 28 $13.68 0.66% 64 50
Fort Worth, TX
12.1
0.00%
56
$14.74 1.45%
38 52
Philadelphia, PA 9.4 -1.05% 48 $20.13 1.26% 46 52
Columbia, SC 11.0 -3.51% 26 $12.34 0.49% 68 52 Oklahoma City, OK 13.4 -3.60% 24 $11.59 0.35% 70 52
Raleigh-Durham, NC 9.2 -2.13% 40 $18.10 0.95% 55 56 Pittsburgh, PA 7.7 -2.53% 36 $16.66 0.79% 60 57
Colorado Springs, CO 15.1 -3.21% 30 $14.08 0.57% 66 57 San Bernardino/Riverside, CA 10.0 2.04% 67 $21.00 1.79% 30 59 Richmond, VA 9.9 -1.00% 49 $16.28 1.18% 48 59
Chattanooga, TN 15.1 -1.31% 46 $12.56 1.13% 51 59
New Haven, CT
13.6
7.94%
76
$16.87 2.00%
23
62
Norfolk/Hampton Roads, VA 9.6 -3.03% 35 $15.22 0.53% 67 63
Omaha, NE 8.5 -3.41% 27 $13.73 -0.07% 77 64
Seattle, WA 7.0 2.94% 72 $23.61 1.59% 34 65
Albuquerque, NM 12.1 -3.20% 31 $14.63 0.00% 75 65 Nashville, TN 8.3 0.00% 56 $15.57 1.10% 52 67
Milwaukee, WI 12.8 -0.78% 54 $15.30 0.86% 58 68 Rochester, NY 12.4 -0.80% 53 $13.10 0.85% 59 68
Syracuse, NY 14.3 -2.05% 41 $12.54 0.08% 72 70 Knoxville, TN 11.7 10.38% 79 $14.28 1.49% 37 71
Jacksonville, FL 13.1 0.00% 56 $15.37 0.59% 65 72
Chicago, IL 12.5 11.61% 80 $19.44 1.30% 45 73 Indianapolis, IN 15.3 2.68% 71 $14.80 0.95% 55 74
Greenville, SC 14.0 1.45% 64 $11.91 0.68% 63 75 Salt Lake City, UT 12.3 -0.81% 52 $16.12 -0.06% 76 76
Tucson, AZ 10.1 5.21% 75 $17.05 1.01% 54 77 Northern New Jersey, NJ 5.5 3.77% 73 $28.37 0.78% 61 78
Fairfield County, CT 3.9 2.63% 70 $28.52 0.49% 68 79 Kansas City, MO 11.5 1.77% 66 $14.11 0.07% 74 80
New Orleans, LA 12.0 2.56% 69 $15.09 -0.46% 80 81 Wichita, KS 14.2 9.23% 77 $11.99 -0.42% 79 82
Top Markets: Retail Cont. RANKS Source: Reis Note: DC & NYC did not have Reis sta
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Multi-Family
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1. San Jose, CA2. Houston, TX
3. Omaha, NE
4. Fort Worth, TX
5. Atlanta, GA
5. Miami, FL
7. Palm Beach, FL
8. Oakland-East Bay, CA
9. Knoxville, TN
9. Sacramento, CA
11. Nashville, TN
11. Phoenix, AZ
13. Dallas, TX
14. San Bernardino/Riverside, CA
15. Wichita, KS
16. Orange County, CA
17. San Francisco, CA
18. Philadelphia, PA
19. Chicago, IL
19. Fort Lauderdale, FL
21. Tacoma, WA
22.
Colorado Springs, CO
23. Dayton, OH
23. Providence, RI
25. Jacksonville, FL
25. Las Vegas, NV
25. St. Louis, MO
28. Denver, CO
28. Seattle, WA
30. Albuquerque, NM
30. Cincinnati, OH
30. San Diego, CA
30. Tulsa, OK
34. Pittsburgh, PA
35. Birmingham, AL
35. Kansas City, MO
35. Tampa-St. Petersburg, FL
38. New York Metro, NY
39. Detroit, MI
39. Portland, OR
41. Columbus, OH
41. Salt Lake City, UT
41. San Antonio, TX
41. Ventura County, CA
45. Charleston, SC
45. Long Island, NY
45. Oklahoma City, OK
48. Boston, MA
49. Greensboro/Winston-Salem, NC
50. Charlotte, NC
50. Orlando, FL
52. Hartford, CT
52. Raleigh-Durham, NC
52. Richmond, VA
55. Austin, TX
55. Cleveland, OH
55. Indianapolis, IN
55. Minneapolis, MN
59. Rochester, NY
60. New Haven, CT
61. Louisville, KY
62. Memphis, TN
63. Chattanooga, TN
63. Tucson, AZ
65. New Orleans, LA
66. Northern New Jersey, NJ
67. Los Angeles, CA
68. Buffalo, NY
68. Columbia, SC
68. Lexington, KY
71. Greenville, SC
72. Baltimore, MD
73. Milwaukee, WI
74. Suburban Virginia, VA
75. Westchester, NY
76. Fairfield County, CT
76. Syracuse, NY
78. Central New Jersey, NJ
79. Suburban Maryland, MD
80. Little Rock, AR
81. Norfolk/Hampton Roads, VA
82. District of Columbia, DC
Top Commercial RE Markets Multi-Family
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1) San Jose, CA
A low development profile, an effect of land cost and approvals issues, a chronic shortage of affordable housing, and a deep reservoir o
demand have for years been defining characteristics of the local apartment market. Accordingly, the unusually large market-rate
completion total recorded for 2013—4,177 units—was not too much for the county’s renter base: net absorption for the year virtuallyduplicated the new supply total. Indeed, the market is in the midst of one of its periodic surges in development. The 578 units thatcompleted construction in two projects through the first half of 2014 (one in San Jose, one in Mountain View) met with 1,034 units of netabsorption. The recent surge of completions did little to alter the market’s longstanding low vacancy profile (indeed, vacancy barelyreached 5.0% during the recession).1 YTD $1.3 billion in sales 57 Transactions2
2) Houston, TX
The Houston area apartment market is in the throes of another of its heated construction cycles. In addition to the near -6,700 market-raunits that had completed construction to date in 2014 per the date of this report, more than 21,600 remained under construction. This is,
though, part of a larger picture—the robust expansion of the local economy, driven by the robust energy sector, high rates of populationgrowth, and other demographic trends friendly to apartments. Such cycles are not new in Houston; and they tend to bring to mind theoversupply that often has followed in their wakes. While the possibility of oversupply cannot be altogether ruled out, its likelihood is not
great: demand is multi-
faceted and broad-
based, development has been better attuned to demand, and energy sector activity,augmented by new sources of domestic extraction and other factors, seems less prone to severe volatility. Metro area vacancy is low.Rent growth is strong.1 YTD $3.3 billion in sales 185 Transactions2
3) Omaha, NE
Declining for the past several years, the vacancy rate in the market-rate apartment sector slipped to 2.9% during the second quarter, thefirst sub- 3.0% rate recorded by Reis for this market since the 1999 inception of coverage. A quarter and four quarters prior, the rate was30 and 10 basis points higher, respectively. Supporting the downward trend was the relative hiatus of construction deliveries seen durinthe first half of 2014. Thus, the 75 market-rate units that completed construction during the period (all in the 1501 Jackson Street projectin May) met with 258 units of positive net absorption. Net absorption for the second quarter alone was 176 units. Rent growth reflectsthe tightness of the market and the strength of demand. 1
4) Fort Worth, TX
New supply still hasn’t caught up with strong demand in the 163,500- unit Fort Worth apartment market. The vacancy rate plunged from
a peak of 11.1% in the first quarter of 2010 to just 4.9% at the end of 2013. New supply, slowed by the recession, has picked up with 77new apartments completing construction year -to date in 2014. This includes the completion of the 306-unit Sagestone Village inNortheast Fort Worth in July and the 243-unit Enclave at Grapevine in September. But net absorption has already totaled 1,357 unitsyear -to-date as of July. The second quarter vacancy rate was 4.4% for Class A properties, 4.5% for Class B/C, and 4.5% overall. Theoverall July rate was 4.4%.1
YTD $3.6 billion in sales 229 Transactions (Dallas/Ft Worth)2
5) Atlanta, GA
The term “boom” is commonly employed by local observers of the present-day Atlanta apartment market. With a decided emphasis onluxury complexes and an additional emphasis on Midtown and Buckhead, under construction and planning totals continue to rise. Notsurprisingly, the notion of a potential supply bubble also enters the conversation. To date, the data show no signs of weakness. Demandruns well ahead of same term new supply. Vacancy, while not dramatically low, is healthy and declining. And rents show hefty year -oveyear gains. As with all construction cycles, however, the future, dependent on ongoing absorption, hangs in the balance. Still, while2014’s construction completion total will be greater than that recorded for 2013, it will not be large by historical norms for this market. 1
YTD $3.4 billion in sales 146 Transactions2
5) Miami, FL
Running against the national grain, condo construction remains at the forefront of Miami-Dade multifamily development. Only recently—well past the 2010-2011 period in which a new and robust cycle of apartment development kicked off around the country—did Miami jointhe party. The 2,423 market-rate units that completed construction all told last year amounted to the largest single -year total recorded bReis for this market since 1991. Demand, however, kept pace. With development numbers low and most of the recessionary pain felt bthe ownership sectors, the apartment market continued to record satisfactory occupancy numbers levels during the downturn. 1 YTD $436 million in sales 66 Transactions2
Sources: 1-Reis; 2 -Real Capital Analytics Top 5 Ranked Multi-Family Markets
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Metro Q3 2014Vac %
% ChangeQ3 ‘13-Q3 ‘14
VacRank
AskingRent $
%Change RentQ3 ‘13-Q3 ‘14
RateRank
FinalRank
Salt Lake City, UT
4.1
0.00%
51
$828 3.11%
33 41
Ventura County, CA 2.8 -3.45% 46 $1,511 3.00% 38 41
San Antonio, TX 5.4 -3.57% 45 $803 2.95% 39 41
Charleston, SC 5.4 20.00% 77 $881 5.01% 8 45
Oklahoma City, OK 4.9 -10.91% 21 $606 2.02% 64 45
Long Island, NY 3.0 -11.76% 19 $1,680 1.88% 66 45
Boston, MA 4.2 10.53% 70 $1,957 4.15% 17 48 Greensboro/Winston-Salem, NC 5.3 -11.67% 20 $708 1.87% 68 49
Orlando, FL 5.3 6.00% 65 $957 3.46% 24 50
Charlotte, NC 4.9 2.08% 58 $897 3.22% 31 50
Raleigh-Durham, NC
6.4
56.10%
82
$915 4.57%
9 52
Richmond, VA 4.4 -4.35% 41 $862 2.74% 50 52
Hartford, CT 2.5 -10.71% 22 $1,061 1.82% 69 52
Austin, TX 5.3 23.26% 79 $1,015 4.42% 13 55 Minneapolis, MN 3.2 23.08% 78 $1,085 4.33% 14 55
Indianapolis, IN 6.0 -1.64% 49 $751 2.88% 43 55 Cleveland, OH 2.7 -15.63% 12 $787 1.42% 80 55
Rochester, NY 2.8 -6.67% 33 $843 2.18% 60 59 New Haven, CT 2.1 -8.70% 26 $1,190 1.80% 70 60
Louisville, KY 5.7 29.55% 80 $728 4.15% 17 61
Memphis, TN
8.5
0.00%
51
$742 2.77%
47 62
Tucson, AZ 5.8 0.00% 51 $708 2.76% 48 63
Chattanooga, TN 4.1 -12.77% 17 $687 1.03% 82 63 New Orleans, LA 5.6 -9.68% 24 $921 1.54% 76 65
Northern New Jersey, NJ 4.2 16.67% 74 $1,659 3.30% 29 66 Los Angeles, CA 3.2 0.00% 51 $1,521 2.70% 52 67
Buffalo, NY 3.0 0.00% 51 $797 2.57% 53 68 Columbia, SC 6.4 -7.25% 31 $770 1.72% 73 68
Lexington, KY 5.4 -8.47% 27 $696 1.46% 77 68 Greenville, SC 4.8 6.67% 68 $717 3.02% 37 71
Baltimore, MD 3.8 -2.56% 48 $1,121 2.19% 59 72
Milwaukee, WI 3.4 -5.56% 36 $906 1.46% 77 73 Suburban Virginia, VA 4.3 19.44% 75 $1,647 2.94% 40 74
Westchester, NY 3.0 -3.23% 47 $1,989 1.07% 81 75 Fairfield County, CT 5.5 12.24% 72 $1,942 2.37% 57 76
Syracuse, NY 3.3 6.45% 66 $756 2.02% 63 76 Central New Jersey, NJ 2.8 3.70% 61 $1,248 1.79% 72 78
Suburban Maryland, MD 4.0 5.26% 64 $1,417 1.80% 70 79 Little Rock, AR 6.7 1.52% 57 $704 1.44% 79 80
Norfolk/Hampton Roads, VA 4.9 19.51% 76 $951 2.15% 61 81 District of Columbia, DC 6.4 33.33% 81 $1,569 1.88% 66 82
Top Markets: Multi-Family Cont. RANKS Source: Reis—market reports Q3 2
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Population
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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26. Jacksonville, FL
28. Boston, MA
28. San Bernardino/Riverside, CA
30. Nashville, TN
31. Tulsa, OK
32. Tucson, AZ
33. Sacramento, CA
34. Minneapolis, MN
35. San Francisco, CA
36. Portland, OR
37. Knoxville, TN
38. Richmond, VA
39. Tampa-St. Petersburg, FL
40. Little Rock, AR
40. Orange County, CA
42. Ventura County, CA
43. Memphis, TN
44. Kansas City, MO
45. Columbus, OH
45. Tacoma, WA
47. Suburban Maryland, MD
48. New York Metro, NY
49. Lexington, KY
50. Baltimore, MD
51. Oakland-East Bay, CA
52. Miami, FL
53. Los Angeles, CA
54. Norfolk/Hampton Roads, VA
55. Birmingham, AL
56. Chattanooga, TN
57. Central New Jersey, NJ
58. Westchester, NY
59. Cincinnati, OH
60. San Jose, CA
61. Greensboro/Winston-Salem, N
62. Northern New Jersey, NJ
63. Louisville, KY
64. Chicago, IL
65. New Orleans, LA
66. Long Island, NY
66. Philadelphia, PA
66. Syracuse, NY
69. Rochester, NY
70. Providence, RI
71. Milwaukee, WI
72. Pittsburgh, PA
72. St. Louis, MO
74. Buffalo, NY
75. Fairfield County, CT
76. Wichita, KS
77. Dayton, OH
78. New Haven, CT
79. Hartford, CT
80. Albuquerque, NM
81. Detroit, MI
82. Cleveland, OH
Top Commercial RE Markets Population
1. Austin, TX
2. Orlando, FL
3. Fort Worth, TX
4. Dallas, TX
5. Charlotte, NC
6. San Antonio, TX
7. Las Vegas, NV
8.
Houston, TX
9. Raleigh-Durham, NC
10. District of Columbia, DC
11. Denver, CO
12. Phoenix, AZ
13. Palm Beach, FL
14. Suburban Virginia, VA
15. Colorado Springs, CO
16. Salt Lake City, UT
17. Columbia, SC
18. Atlanta, GA
19. Seattle, WA
20. Fort Lauderdale, FL
20. Omaha, NE
22. Oklahoma City, OK
23. Charleston, SC
24. Indianapolis, IN
25. San Diego, CA
26. Greenville, SC
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro Population %Change PopQ3 ‘13-Q3 ‘14
PopRank
Austin, TX
1,942,550 2.53% 1
Orlando, FL 2,327,570 2.15% 2 Fort Worth, TX 2,306,050 2.06% 3
Dallas, TX 4,618,350 2.01% 4 Charlotte, NC 1,911,050 1.93% 5
San Antonio, TX 2,331,740 1.91% 6 Las Vegas, NV 2,071,420 1.81% 7
Houston, TX 6,482,710 1.79% 8
Raleigh-Durham, NC 1,790,610 1.75% 9 District of Columbia, DC 660,830 1.74% 10
Denver, CO
2,757,390
1.73% 11
Phoenix, AZ 4,486,980 1.67% 12
Palm Beach, FL 1,399,080 1.65% 13 Suburban Virginia, VA 2,855,150 1.52% 14
Colorado Springs, CO 690,840 1.50% 15
Salt Lake City, UT 1,780,960 1.43% 16
Columbia, SC 807,490 1.39% 17
Atlanta, GA 5,591,260 1.32% 18
Seattle, WA 2,835,870 1.30% 19
Fort Lauderdale, FL 1,866,010 1.22% 20 Omaha, NE 908,640 1.22%
20
Oklahoma City, OK 1,339,490 1.19% 22 Charleston, SC 722,510 1.16% 23
Indianapolis, IN 1,849,750 1.15% 24
San Diego, CA 3,255,630 1.11% 25
Jacksonville, FL 1,411,660 1.00% 26
Greenville, SC 1,156,130 1.00% 26
Boston, MA 4,313,720 0.98% 28
San Bernardino/Riverside, CA 4,434,610 0.98% 28 Nashville, TN 1,695,110 0.98% 30
Tulsa, OK 973,560 0.97% 31
Tucson, AZ 1,003,830 0.95% 32
Sacramento, CA 2,241,940 0.94% 33
Minneapolis, MN 3,430,610 0.92% 34
San Francisco, CA 1,864,210 0.91% 35
Portland, OR 2,338,700 0.90% 36 Knoxville, TN 722,540 0.86% 37
Richmond, VA 1,310,660 0.85% 38 Tampa-St. Petersburg, FL 2,898,460 0.81% 39 Orange County, CA 3,145,690 0.80% 40
Little Rock, AR 731,590 0.80% 40
Top Markets: Population RANKS Source: Reis—market reports Q3 2
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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Metro Population %Change PopQ3 ‘13-Q3 ‘14
PopRank
Ventura County, CA
847,820 0.78% 42
Memphis, TN 1,345,920 0.76% 43 Kansas City, MO 2,099,340 0.74% 44
Columbus, OH 1,919,930 0.73% 45 Tacoma, WA 827,170 0.73% 45
Suburban Maryland, MD 2,405,750 0.72% 47 New York Metro, NY 8,899,040 0.71% 48
Lexington, KY 493,610 0.70% 49
Baltimore, MD 2,793,890 0.67% 50 Oakland-East Bay, CA 2,694,760 0.63% 51
Miami, FL
2,635,310 0.60% 52
Los Angeles, CA 10,091,810 0.59% 53
Norfolk/Hampton Roads, VA 1,714,980 0.59% 54 Birmingham, AL 1,148,420 0.58% 55
Chattanooga, TN 545,520 0.57% 56 Central New Jersey, NJ 2,762,630 0.56% 57
Westchester, NY 972,620 0.51% 58
Cincinnati, OH 2,166,640 0.50% 59
San Jose, CA 1,931,550 0.49% 60
Greensboro/Winston-Salem, NC 1,390,710 0.47% 61
Northern New Jersey, NJ 4,278,950
0.44%
62
Louisville, KY 1,317,640 0.36% 63 Chicago, IL 7,991,250 0.31% 64
New Orleans, LA 1,223,570 0.29% 65 Syracuse, NY 663,990 0.24% 66
Long Island, NY 2,860,910 0.24% 66
Philadelphia, PA 5,333,590 0.24% 66
Rochester, NY 1,060,580 0.19% 69
Providence, RI 1,607,470 0.16% 70 Milwaukee, WI 1,571,810 0.12% 71
St. Louis, MO 2,851,700 0.04% 72 Pittsburgh, PA 2,362,130 0.04% 72
Buffalo, NY 1,134,710 0.03% 74
Fairfield County, CT 939,960 0.01% 75
Wichita, KS 629,310 0.00% 76
Dayton, OH 980,170 -0.02% 77 New Haven, CT 862,120 -0.05% 78
Hartford, CT 1,214,710 -0.06% 79 Albuquerque, NM 900,490 -0.18% 80
Detroit, MI 4,434,180 -0.21% 81 Cleveland, OH 2,055,040 -0.37% 82
Top Markets: Population Cont. RANKS Source: Reis—market reports Q3 2
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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26. Salt Lake City, UT
28. Syracuse, NY
29. Little Rock, AR
30. Houston, TX
31. Austin, TX
31. Oklahoma City, OK
33. San Diego, CA
34. Rochester, NY
35. Buffalo, NY
36. Sacramento, CA
37. Providence, RI
38. Los Angeles, CA
39. Dallas, TX
39. Fort Worth, TX
41. Tulsa, OK
42. Nashville, TN
43. Orange County, CA
43. San Bernardino/Riverside, CA
43. Ventura County, CA
46. Greensboro/Winston-Salem, NC
47. Cleveland, OH
48. Knoxville, TN
49. Charlotte, NC
50. Phoenix, AZ
51. Tucson, AZ
52. Fort Lauderdale, FL
52. Miami, FL
52. Palm Beach, FL
55. Memphis, TN
56. Boston, MA
57. Raleigh-Durham, NC
58. Orlando, FL
59. Chattanooga, TN
60. Wichita, KS
61. Tampa-St. Petersburg, FL
62. Portland, OR
63. Jacksonville, FL
64. Detroit, MI
65. Baltimore, MD
66. Seattle, WA
66. Tacoma, WA
68. Albuquerque, NM
69. Omaha, NE
70. St. Louis, MO
71. District of Columbia, DC
71. Suburban Maryland, MD
71. Suburban Virginia, VA
74. Birmingham, AL
75. Norfolk/Hampton Roads, VA
76. Greenville, SC
77. Charleston, SC
78. Columbia, SC
79. Atlanta, GA
80. Richmond, VA
81. New Orleans, LA
82. Kansas City, MO
Top Commercial RE Markets Unemployment
1. Denver, CO2. Colorado Springs, CO
3. Columbus, OH
4. Dayton, OH
5. Cincinnati, OH
6. Chicago, IL
7. Las Vegas, NV
8. Louisville, KY
9. Pittsburgh, PA
10. Indianapolis, IN
11. Central New Jersey, NJ
11. Long Island, NY
11. New York Metro, NY
11. Northern New Jersey, NJ
11. Westchester, NY
16. Lexington, KY
17. Philadelphia, PA
18. New Haven, CT
19. Minneapolis, MN
20. San Antonio, TX
21. Hartford, CT
22. San Jose, CA
23. Oakland-East Bay, CA
23. San Francisco, CA
25. Milwaukee, WI
26. Fairfield County, CT
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Metro MSA Sep 13Unemp
Sep 14Unemp
Changein Unemp
UnempRank
Denver, CO
Denver - Aurora
-Broomfield, CO 6.2
4 -
35.48% 1
Colorado Springs, CO Colorado Springs, CO 7.5 5.1 -32.00% 2
Columbus, OH Columbus, OH 6.3 4.3 -31.75% 3
Dayton, OH Dayton, OH 7.5 5.2 -30.67% 4
Cincinnati, OH Cincinnati-Middletown, OH-KY-IN 6.9 4.8 -30.43% 5
Chicago, IL Chicago-Joliet-Naperville, IL-IN-WI 8.4 6.1 -27.38% 6
Las Vegas, NV Las Vegas-Paradise, NV 9.7 7.1 -26.80% 7
Louisville, KY Louisville-Jefferson County, KY-IN 7.4 5.5 -25.68% 8
Pittsburgh, PA Pittsburgh, PA 6.1 4.6 -24.59% 9
Indianapolis, IN Indianapolis-Carmel, IN 6.3 4.8 -23.81% 10
Central New Jersey, NJ
New York-N. New Jersey
-Long Island, NY
-NJ
-PA 7.6
5.8
-23.68%
11 Long Island, NY New York-N. New Jersey-Long Island, NY-NJ-PA 7.6 5.8 -23.68% 11
New York Metro, NY New York-N. New Jersey-Long Island, NY-NJ-PA 7.6 5.8 -23.68% 11
Northern New Jersey, NJ New York-N. New Jersey-Long Island, NY-NJ-PA 7.6 5.8 -23.68% 11
Westchester, NY New York-N. New Jersey-Long Island, NY-NJ-PA 7.6 5.8 -23.68% 11
Lexington, KY Lexington-Fayette, KY 6.5 5 -23.08% 16
Philadelphia, PA Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 7.4 5.7 -22.97% 17
New Haven, CT New Haven, CT Metropolitan NECTA 7.8 6.1 -21.79% 18
Minneapolis, MN Minneapolis-St. Paul-Bloomington, MN-WI 4.6 3.6 -21.74% 19
San Antonio, TX San Antonio-New Braunfels, TX 6 4.7 -21.67% 20
Hartford, CT
Hartford-
West Hartford-
East Hartford, CT NECTA
7.5
5.9 -
21.33%
21
San Jose, CA San Jose-Sunnyvale-Santa Clara, CA 6.6 5.2 -21.21% 22
Oakland-East Bay, CA San Francisco-Oakland-Fremont, CA 6.3 5 -20.63% 23
San Francisco, CA San Francisco-Oakland-Fremont, CA 6.3 5 -20.63% 23
Milwaukee, WI Milwaukee-Waukesha-West Allis, WI 6.8 5.4 -20.59% 25
Fairfield County, CT Bridgeport-Stamford-Norwalk, CT NECTA 7 5.6 -20.00% 26
Salt Lake City, UT Salt Lake City, UT 4 3.2 -20.00% 26
Syracuse, NY Syracuse, NY 7.1 5.7 -19.72% 28
Little Rock, AR Little Rock-North Little Rock-Conway, AR 6.6 5.3 -19.70% 29
Houston, TX Houston-Sugar Land-Baytown, TX 6.1 4.9 -19.67% 30
Austin, TX Austin-Round Rock-San Marcos, TX 5.2 4.2 -19.23% 31
Oklahoma City, OK Oklahoma City, OK 5.2 4.2 -19.23% 31
San Diego, CA San Diego-Carlsbad-San Marcos, CA 7.3 5.9 -19.18% 33
Rochester, NY Rochester, NY 6.8 5.5 -19.12% 34
Buffalo, NY Buffalo-Niagara Falls, NY 7 5.7 -18.57% 35
Sacramento, CA Sacramento-- Arden- Arcade--Roseville, CA 8.1 6.6 -18.52% 36
Providence, RI Providence-Fall River -Warwick, RI-MA NECTA 9.2 7.5 -18.48% 37
Los Angeles, CA Los Angeles-Long Beach-Santa Ana, CA 8.7 7.1 -18.39% 38
Dallas, TX Dallas-Fort Worth- Arlington, TX 6.1 5 -18.03% 39
Fort Worth, TX Dallas-Fort Worth- Arlington, TX 6.1 5 -18.03% 39
Tulsa, OK Tulsa, OK 5.6 4.6 -17.86% 41
Top Markets: Unemployment RANKS Source: Bureau of Labor Stascs—unemployment report Sep
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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8/9/2019 Coldwell Banker Commercial Market Comparison Report Ranks Denver as Top Commercial Real Estate Market in the Country
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