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Commercial Real Estate Market Overview 2010: IRR Viewpoint

Explore the industrial, apartment, office, and retail segments of the real estate market in 2010. Discover the best and worst markets, pricing trends, and vacancy rates across different regions.

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Commercial Real Estate Market Overview 2010: IRR Viewpoint

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  1. Commercial Real Estate OutlookIRR-Viewpoint 2010

  2. IndustrialThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • Los Angeles, CA – 4.92% • Orange County, CA – 6.58% • Seattle, WA – 6.70% Local Market… 50. Charlotte, NC – 14.26% (3Q 2009);14.70% (1Q 2010-NA) …and the Bottom Three Markets 54. Austin, TX – 18.40% 55. Boston, MA – 24.76% 56. Louisville, KY – 26.01%

  3. Industrial Market Pricing

  4. Industrial – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Industrial - 9.59%

  5. ApartmentThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • San Francisco, CA – 3.59% • Syracuse – 3.94% • New York City – 4.80% Local Market… 49. Charlotte – 11.64% (3Q–2009);13.6% (1Q 2010) …and the Bottom Three Markets 54. Phoenix – 12.97% 55. Naples/Ft. Myers – 13.37% 56. Providence – 14.11%

  6. Apartment Market Pricing

  7. Apartment – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Retail – 9.50% Average

  8. Office Market Cycle

  9. Office – CBD The Best, The Worst and The Local Market Top Three Markets By Vacancy… • Charlotte, NC – 6.43% • Boise, ID – 8.10% • Memphis, TN – 8.70% Local Market… 1. Charlotte, NC – 6.43% (3Q–2009); 12.0% (1Q-2010) …and the Bottom Three Markets 54. San Jose, CA – 23.90% 55. Detroit, MI – 25.00% 56. Dayton, OH – 26.00%

  10. Office – Suburban The Best, The Worst and The Local Market Top Three Markets By Vacancy… • Dayton, OH – 10.88% • Pittsburgh, PA – 11.09% • Los Angeles, CA – 11.30% Local Market… 41. Charlotte, NC – 19.07% (3Q–2009);19.77% (1Q–2010) …and the Bottom Three Markets 54. Detroit, MI – 23.89% 55. Phoenix, AZ – 27.41% 56. Hartford, CT – 29.45%

  11. Office Market Pricing

  12. Office – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Office – 9.48% Average

  13. Retail Market Cycle

  14. RetailThe Best, The Worst and The Local Market Top Three Markets By Vacancy… • San Francisco, CA – 3.08% • Los Angeles, CA – 4.87% • San Jose, CA – 5.03% Local Market… 12. Charlotte, NC – 6.77% (3Q–2009); 8.0% (4Q–2009) …and the Bottom Three Markets 54. Providence, RI – 17.00% 55. Dayton, OH – 17.30% 56. Detroit, MI – 17.35%

  15. Retail Market Pricing

  16. Retail – Overall Capitalization Rates Korpacz – Second Quarter 2010 –Investor Survey • Realty Rates.com – Second Quarter 2010- Investor Survey • Retail – 9.50% Average

  17. Recent Development in Capitalization Rates Korpacz Survey data for investment grade property and our analysis are presented in the following table:

  18. Recent Development in Capitalization Rates Korpacz Survey data for non-investment grade property and our analysis are presented in the following table:

  19. Real Estate Listing Sources – For Sale & For Lease • Loopnet http://www.loopnet.com/ • Edis http://www.nccommerce.com/en/BusinessServices/LocateYourBusiness/BuildingsAndSites/ (N.C. Department of Commerce Buildings & Sites EDIS) • Mecklenburg County Real Estate Lookup http://meckcama.co.mecklenburg.nc.us/relookup/ (Market Analysis Link) • National & Local Brokerage Firms • Apartment Realty Advisorshttp://www.arausa.com/Index.cfm • CB Richard Ellis (CBRE) http://www.cbre.com/EN/Pages/default.aspx • Sperry Van Nesshttp://www.svn.com/ • Lincoln Harris CSGhttp://www.lincolnharris.com/Home/ • The Stump Corporationhttp://www.stumpnet.com/ • Marcus & Millichamp http://www.marcusmillichap.com/ • NAIGLOBAL http://www.naiglobal.com/

  20. National Real Estate Surveys • IRR.com (Viewpoint – Real Estate Value Trends) • Marcus & Millchap.com • NAIGLOBAL • www.pwc.com (Korpacz Real Estate Investor Survey) • ACLI(American Council of Life Insurers) • Realty Rates.com(Developer Surveys, Financial Indicators, Market Surveys, Investor Surveys)

  21. Vacancy and Rental Rate Surveys - SUBSCRIPTION • Karnes (Office, Retail and Industrial) • Real Data (Apartments) • REIS

  22. Real Estate Sales - SUBSCRIPTION • Costar • REIS • Real Capital Analytics http://www.rcanalytics.com/

  23. Integra Realty ResourcesNation’s Largest Valuationand Counseling Firm 59 Offices in 33 states, plus DC and Mexico Over 800 Consultants & Advisors 150+ MAIs company-wide

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