plaza commercial realty 2016 market report - paul land · 2016. 6. 14. · plaza commercial realty...

Plaza Commercial Realty2016 Market Report

for Columbia, Missouri

573-445-1020 www.PlazaCommercialRealty.com

©2016 Plaza Commercial Realty

LOCATION + TIMING

RIGHTRIGHTWR0NGWRONG

RIGHTWRONGRIGHTWRONG

Lessons inCOM M ERC IAL REAL ESTATE

SOLDHOLDcOLDfOLD

fullshowslow

no

SaleOUTCOME

leaseOUTCOME

2

Introduction The Plaza Commercial Realty 2016 Market Report is a snapshot of the Columbia, MO commercial real estate market. It is intended to provide objective data to parties involved in real estate transaction and investment decisions. We are confident that our 29-year history of providing sound commercial real estate perspectives in this area will provide our customers and clients with valuable insights, contributing to informed business and investment decisions throughout 2016.

Suburban Market Method The suburban market survey encompasses metro Columbia, MO. We included privately owned facilities leased to government agencies, universities, colleges and schools in the surveyed square footage, as well as facilities that these entities own and occupy, when such described facilities are situated off their main campus. Owner-occupied property, as well as investor-owned property, is included in the suburban market surveyed square footage. Actual use of the facility, and not its underlying zoning district, is the basis for each property’s inclusion in the stated category of retail, office, or industrial. In instances where mixed uses occur, we used our best judgment in allocating the appropriate square footage to each category: “actual use” if occupied, and “most likely use” if unoccupied. The suburban market survey does not include: churches, daycare facilities, elementary, middle, and secondary education schools, colleges and universities, and other buildings on those main campuses. Also not included are: convenience stores, car washes, self-storage facilities, hotels and motels or their banquet facilities, government owned and occupied facilities such as city hall or county administrative buildings, hospitals, transitional housing and shelters, park offices and recreational buildings within those public parks, the county fairgrounds, or commercial multifamily housing and its “on-site” management offices. The Central Business District totals are excluded from the overall suburban market totals and are instead the subject of an entirely different methodology and report detailed below.

CBD Market Method The Central Business District, (CBD) is defined by the boundaries of Columbia’s Downtown Community Improvement District (DCID). Its surveyed results are detailed separately within this report from those of the suburban market. Unlike the suburban market, the CBD survey includes city hall, county administrative buildings, churches, university and college buildings, and schools, located within the DCID boundaries. We have categorized these broad range uses of facilities as “tax generating” properties (i.e. those that pay property taxes) and “tax exempt” properties (i.e. those that do not pay real estate taxes). Other business use categories are also summarized.

Sincerely,

Plaza Commercial Realty 2016 Market Report

Plaza Commercial Realty 2016 Market Report for Columbia, Missouri • ©2016573-445-1020

Building definitionS (from Commercial Investment Real Estate Journal)

Class A Building has an excellent location and access to attract the highest-quality tenants. Meets or exceeds building code. Building is of superior construction and finish, relative to new or competitive with new buildings, and provides professional on-site management. Rents are competitive with new construction.

Class B Building has a good location, management, construction, and tenancy. Construction and physical condition are good and meet building code. May suffer some physical deterioration or functional obsolescence. Rents are below those of Class A buildings and new construction, but may be able to compete at the low end of Class A market.

Individual MembershipSociety of Industrial andOffice Realtors®

Paul Land, SIOROwner, Plaza Commercial Realty

Individual MembershipSociety of Industrial andOffice Realtors®

Mike Grellner, SIORVice President, Plaza Commercial Realty

3

Total Square Footage 8,487,505Total Vacant Square Footage 539,720Columbia Vacancy Rate 6.36 %U.S. Vacancy Rate 8.40 %

Industrial SummaryCOLUMBIA, MISSOURI

January 1, 2015

Rental Range


Retail SummaryCOLUMBIA, MISSOURI

January 1, 2015

Rental Range


Office SummaryCOLUMBIA, MISSOURI

January 1, 2015

Rental Range

Plaza Commercial Realty 2016 Market Report for Columbia, Missouri • ©2016

4


Universityof Missouri

FlatBranchPark

North VillageArts District

ColumbiaCollege

PeacePark

StephensCollege

MKT

Tra

il

MissouriTheatre

CityHall

Chamber ofCommerce/

Convention andVisitors Bureau

TheDistrictOffice

Boone Co Courthouse

East Broadway

Walnut

Ash

Park Ave

Ash

Cherry

Elm

4th

5th

6th

7th 8th

9th

10th

Hitt

6th

6th

7th

8th

8th

Orr

9th ht01

Locust

Shor

t

5th

Walnut Walnut

4th

10th

Hitt

5th

Lyon

Rogers

egelloCWau

ghSt

Jam

es

St J

osep

h

Otto

163

Locust

Prov

iden

ce

70

Boundaries of survey area (DCID) Tax exempt properties

Commercial Property Highlights (excluding residential)

Total Square Footage: 2,940,920 37% is tax-exempt sq ft 1,085,654 63% is tax-generating sq ft 1,855,266 1.78% of total space VACANT 50,949

Use Categories (as a % of total sq ft excluding residential)

9.45% Restaurant/Entertainment 278,000 9.49% Government 279,228 21.11% Education/Religious 621,026 6.73% Financial Services 197,787

Downtown Community Improvement District

5

0

2%

4%

6%

8%

10%

20152010200520001995

3.3%

4.7%5.4%

9.6%

5.4%

2.1%1.8%

3.8%

6.5%

3.5%BooneCounty

Missouri

unemployment Rates Boone County vs. Missouri Source: Missouri Economic Research and Information Center

Bill

ions

Boone County Assessed Valuation Data courtesy of Boone County Assessor’s Office

Business Licenses Data courtesy of City of Columbia

university of Missouri-Columbia enrollment History

15,000

20,000

25,000

30,000

35,000

40,000

201520051995198519751965

15000

20000

25000

30000

35000

40000

201520051995198519751965


To Katy

Trail

MKT connects to the Katy Trail at this point.

MKT Trail

Katy Trail

Katy Trail2 miles 1 mile 1/2 mile

HulenLk

LkCyrene

Missouri River

Clin

ksca

les

Rd

Bernadette Dr

Colle

ge P

ark

Dr

Rollins Rd Man

or

Gra

nt L

nSi

lvey

St

E Starke Ave

Der

by R

id ge D

r

W O B Brown RdN Bell Rd

W Westlake Rd

N L

ocus

t Gro

ve C

hurc

h R

d

W Hatto n Ch apel Rd

W Wehmeyer Rd N D

enni

ngho

f f R

d

S H

owar

d O

rcha

rd R

d

S Br

ushw

ood

Lake R

d

S Be

arfie

ld R

d

Rogers St

Gar

th A

ve

Blue Ridge Rd

Wes

t Blv

d

Fair

view

Rd

Worley St

Hill

Cre

ek R

d

Ponderosa St

S G

ans

Cree

k R

d

E Bonne Femme Church Rd

Dusty Rhodes Ln

N Liddell Ln

E Bowling Ln

E Vemers Ford Rd

Old

Pla

nk R

dFo

rum

Blv

d

Gans Rd

S Ro

ck Q

uarr

y Rd

E Bass Ln

S Ben William

s Rd

S R

ollin

g H

ills

Rd

New Haven Ave E New Haven Rd

S O

livet

Rd

E Carter School Rd

S R

ange

line

Rd

Sa in

t Cha rles Rd

E Richland Rd N R

ange

line

Rd

N L

ake

of th

e W

oods

Rd

E Palmer Rd

E Mount Hope Rd

Saint Charles Rd

Saint Charles RdClark Ln

E Oakland Church Rd

N B

row

n St

atio

n R

d

Brow

n St

atio

n Rd

N B

alle

nger

Ln

N W

yatt

L n

N R

oger

s R

d

E Oakland Church Rd E Heller Rd

N Kirc

he

r Rd

Mexico Gravel RdMexico Gravel Rd

N Rt

e B

E Prathersville Rd

E Smiley Ln

W Obermiller Rd

N O N

eal R

d

Blac

kfoo

t

Rd

W Mauller Rd

N Cr

easy

Spr

ings

Rd

Brown School Rd

Oak

land

Gra

vel R

dN

Oak

land

Gra

vel

Rd

Vandiver Dr

Paris

Rd

E Broadway

S Rock Quarry Rd

Chapel Hill Rd

S Sc

otts

Blv

d

W Vawter School Rd

W Broadway

Scot

t Blv

d

W Gillespie Bridge Rd

W Nifong Blvd

Grindstone Pkwy

E Nifong Blvd

S Coats L

n

Perche Ave

Burr

Oak

Rd

S Pr

ovid

ence

Rd

N Stadium Blvd

W HendersonRd

N L

ocus

t Gro

veCh

urch

Rd

W Wilcox Rd

Wag

on T

rail

Rd

N Hinkson

Creek Rd

E JudySchool Rd

Brown

Station Rd

Keen

e St

S O

ld M

illCr

eek

Rd

Chapel Hill Rd

Foru

m B

lvd

Old

63

S

N Cr

easy

Spr

ings

Rd

Beth

el S

t

Green Meadows Rd

Southampton Dr

Colle

geE TurnerFarm Rd

Lem

one

Indu

stria

l

Mag

uire

Blv

d.

Trad

ewin

ds P

kwy

Sinc

lair

Rd

David Allen Rd

Berrywood

Conl

ey

I-70 Dr SEI-70 Dr SE

Butto

nwoo

d

Campusview

Colo

ny

Boone Industrial

Rainforest Pkwy

Park

erTo

wer

Waco Rd

Mojave Ct

Paris

Rd

Burli

ngto

n

E Walnut

StewartSmith

Rainbow Trout

Loui

svill

e

I-70 Dr NW

GibbsBarberry

Sunf

low

er

PrimroseIn

dust

rial

Prov

iden

ce

Rd

S Pr

ovid

ence

Rd

Ran

gelin

e St

Stadium Blvd

DiscoveryRidge

CAJF

University ofMissouri

StephensCollege

ColumbiaCollege

UM Women’sand Children’s

HospitalBoone

HospitalCenter

UniversityHospital

SEEINSET

ColumbiaCosmopolitan

RecreationPark

Al GustinGolf Course

LaNickellGolf

Course

Twin LakesRecreation Area

StephensLake Park

ColumbiaCountry Club Woodridge Park

Indian HillsPark

Lake of theWoods G.C.

Links atColumbia

AmericanLegionPark

AlbertOakland

Park

GrindstoneNature

Area

Country Clubof Missouri

Club atOld Hawthorne

Central MissouriEvents Center(Boone CountyFairgrounds)

Bonnie ViewNature

SanctuaryFairview

Park

Rock BridgeState Park

NifongParkBethel Park A. Perry

PhillipsPark

GansCreek

RecreationArea

Three CreeksConservation

Area

PIERPONT

MCBAINE

MIDWAY

70

133131

128

127126125

124

121

128A

7070

70

63

63

63

WW

740

163

163

163

163

763

763

740

40

KK

K

K

K

AC

E

UUZZ

UU

UU

O

E

VV

B

Z

Z

PP

PP

BHH

N

To Rocheport 12 milesTo Boonville 22 milesTo Kansas City 126 miles

To Fulton 34 milesTo St. Louis 125 miles

To Jefferson City 32 milesTo Lake of the Ozarks 74 miles

To Moberly 35 milesTo Kirksville 90 miles

W WW W

Universityof Missouri

NorthVillage

ArtsDistrict

MKT

Tra

il

East Broadway

Walnut

Ash

Park Ave

Ash

Cherry

Locust

Elm

4th

5th

6th

7th 8th

9th

10th

Hitt

6th

6th

7th

8th

8th

Orr

9th

10th

Locust

Shor

t

5th

Walnut Walnut

4th

10th

Hitt

5th

Prov

iden

ce

PeacePark

FlatBranch

Park

Chur

chR

d

W

6th

5th

Walnut

4th

© 2014 Maximum Media, Inc.800-795-5207PO Box 776 Columbia, MO 65205www.maximummediainc.com

Columbia, Missouri Metro Area

n Exclusive Representation of:

Office Buildings

Retail Buildings

Industrial Buildings

Investments

Business Property Leasing & Sales

573-445-1020 • www.PlazaCommercialRealty.com 2501 Bernadette, Columbia, MO 65203 • Fax: 573-445-2613 • E-mail: [email protected]

n Seller/Landlord Representation

n Buyer/Tenant Representation

n Market Studies/Review

n Opinion of Market Value

n Corporate Relocation, Expansion and Exit Strategies

n Lease Agreement Review

n Sale Contract Review

n Build-To-Suit Offerings

6Plaza Commercial Realty 2016 Market Report for Columbia, Missouri • ©2016

plaza commercial realty 2016 market report - paul land · 2016. 6. 14. · plaza commercial realty...

Documents