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Portland, OR | 2016 Top #CRE Markets to Watch: Retail

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2016 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Retail Market to Watch: Portland, OR

Portland - top retail market to watchPortland has experienced surging new employment in 2015 that has brought the unemployment rate down to 4.7% as of January ‘16, while new jobs are being continually added at an annualized rate of 3.1%, according to the Bureau of Labor Statistics. This is due to a well-diversified economy and quality of life that will also fuel growth in Portland’s retail real estate market. Top sectors for growth include Information, Leisure and Hospitality, Education and Health Services, and Construction, all growing at annualized rates of 9.4%, 4.6%, 4.5%, and 3.9%, respectively. As the population continues to grow as it has done by 6.1% from 2010 to 2014, according the Census Bureau, there will be greater needs for all real estate including retail establishments in 2016 and beyond.

Advisor Insights: SVN | Bluestone & Hockley in Portland, OR

SVN’s Portland-based Advisors at SVN | Bluestone & Hockley have some retail market highlights to share. Here’s what to look out for in Portland’s retail market in 2016:

  • Increase in on-market for sale properties
  • Decline in available SF for lease
  • Gradual increase of retail lease rate

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top retail markets, download the full version of the 2016 Retail Market Outlook report here.

2016 Retail Market Outlook

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Portland, OR | 2016 Top #CRE Markets to Watch: Multifamily

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Multifamily Markets to Watch. Not the largest or the most actively contested markets, the 2016 Multifamily Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Multifamily Market to Watch: Portland, OR

Portland, OR - top multifamily market to watchPortland has experienced rapid employment growth in 2015, bringing the unemployment rate down to 4.7% as of January ‘16 while sustaining new job creation at a rate of 3.1%, according to the Bureau of Labor Statistics. Population in the city grew by 6.1% between 2010 and 2014 according to the Census Bureau who also reports that approximately 47% of the housing stock is used for rentals. Portland is a relatively high priced market for the nation but still affordable for a major West Coast metro with an excellent quality of life. Leading employment sectors include Information, Leisure and Hospitality, and Education and Health Services growing at 9.4%, 4.6%, and 4.5% respective annualized rates. These dynamics should lead to strong performance of the multifamily sector in 2016 and beyond with rents growing over 10% this year as new supply remains relatively moderate.

Advisor Insights: SVN | Bluestone & Hockley

SVN’s Portland-based Advisors at SVN | Bluestone & Hockley have some multifamily market highlights to share. Here’s what to look out for in Portland’s multifamily market in 2016:

  • More units coming online
  • Price leveling off
  • More outside of the market investors coming in

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top multifamily markets, download the full version of the 2016 Multifamily Market Outlook report here.

2016 Multifamily Market Outlook

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Portland, OR | 2015 Top #CRE Markets to Watch: Multifamily

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Multifamily Markets to Watch. Not the largest or the most actively contested markets, the 2015 Multifamily Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Multifamily Market to Watch: Portland, OR

Portland: 2015 Multifamily Markets to WatchPortland has established itself as a magnet for Millennial households, which in turn has contributed to its very tight rental market. About 7,000 units were delivered in 2014. Still, the multifamily vacancy rate in Portland ended the year at less than 3%. While Freddie Mac expects additional deliveries in 2015 to push vacancy rates up, the agency additionally projects a 3.8% increase in rental rates. Oregon’s land-use restrictions ensure that construction is overwhelmingly in-fill, which fits the Millennial preference for urban living.

The economic and labor market drivers of apartment demand in the Portland area are robust. Among last year’s milestones, November 2014 saw the single largest monthly job growth for Portland since 1990. Intel, which just negotiated a 30-year tax break in exchange for an extraordinary $100 billion investment in semiconductor equipment and facilities at its Hillsboro campus, anchors the high-tech industry in Portland, while Nike received final approvals to expand its Beaverton campus in order to accommodate the addition of 2,100 jobs. German solar panel producer, SolarWorldAG, is set to expand its Hillsboro facility, adding 200 jobs. Small- and medium-sized businesses are flourishing as well, with 57% of the Inc. 5000 list of fastest growing companies calling Portland home.

To read more on Portland and other top multifamily markets, download the full version of the 2015 Multifamily Market Update report.

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It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisors with more than 180 locations in 200 markets.

Portland, OR | 2015 Top #CRE Markets to Watch: Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2015 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

Top Industrial Market to Watch: Portland, OR

Portland: 2015 Industrial Markets to WatchPortland’s industrial vacancy rate dipped below 6% in the first quarter of 2015, adding the region to the ranks of the tightest industrial markets in the nation. Rent gains across industrial subtypes have accelerated in kind and, in 2014 and the first quarter of 2015, were on par with higher profile markets including San Jose. The strong local economy and online commerce trends are behind the healthy absorption of warehouse, distribution, and fulfillment spaces. But the concentration of tech activity and the market’s relatively low costs have also made Portland an attractive option for data centers. As compared to markets with comparable occupancy and rent growth rates, investors will find relatively good values in Portland. The average cap rate for sales and refinancing activity was 6.2% in 2014, nearly 100 basis points higher than in the dominant Northern California and Southern California markets and 70 basis points lower than Seattle. Diverging from the positive outlook for the area’s overall industrial market, the Port of Portland faces serious challenges. In spite of the longshoremen’s new contract, the departure of Hanjin and Hapag-Lloyd — which together account for nearly all of the port’s container traffic — will be difficult to overcome.

To read more on Portland and other top industrial markets, download the full version of the 2015 Industrial Market Update report here.

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It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisors with more than 180 locations in 200 markets.

Portland, OR | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Portland, Oregon

portland-415957_1280Multifamily construction has ramped up gradually in Portland, enabling landlords to grow rents even as new supply comes closer to matching the demand for apartments. After two years of adding some 2,000 multifamily units annually to the local inventory, and with a vacancy rate falling to near 3 percent, developers have stepped up the pace and will likely deliver 3,000 apartments in 2014. That accelerated construction activity will be enough to stabilize the vacancy rate and slow rent growth at existing properties. Portland’s enviable quality of life, including outdoor attractions and an expanding cluster of amenities catering to an urban lifestyle, continues to support outpaced job growth. Technology employers, and the service industry jobs that grow around the technology workforce, will help Portland to add about 30,000 jobs in 2014, similar to 2013’s employment growth. With only modest rent growth likely as apartment construction gains momentum, Portland offers opportunities for income investors, and some value-add plays remain for investors willing to invest in significant property upgrades.

To read more on Portland, and other top multifamily markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Apartment-CoverApartment Trends and Markets to Watch
Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commercial Real Estate Trends and Markets to Watch

Sperry Van Ness® 2012 Ambassador of the Year, Curt Arthur

The Ambassador Award is given every year to an advisor who embodies the Sperry Van Ness® culture and helps contribute to the success of the entire Sperry Van Ness organization.

Curt Arthur, SIOR, Managing Director of Sperry Van Ness Commercial Advisors, LLC based in Salem, Ore., is the recipient of the 2012 Ambassador Award. Since joining Sperry Van Ness in 2007, he has championed the brand locally, regionally and nationally.

Curt Arthur, 2012 Ambassador of the Year
Curt Arthur, 2012 Ambassador of the Year

Local Presence

In less than two years, Curt’s office went from being a start up to achieving number one status in Salem.  Curt and his team took the Sperry Van Ness brand from obscurity to a well known and well-regarded name in the Willamette Valley.  Additionally, Curt hosts the only annual commercial real estate economic forum event in their market, which is attended by many community, business, and real estate leaders in Oregon.

Regional Push

Regionally, Curt has helped strengthen the Sperry Van Ness brand in the Pacific Northwest by assisting company leaders in helping recruit outside firms looking to join the organization as franchisees.  His work was vital in helping Sperry Van Ness establish a foothold in the Seattle market in 2008 and to expand into Portland, Ore. in 2010.  Currently, Curt is working in tertiary markets throughout Oregon and is expected to open additional Sperry Van Ness offices in the state as branch offices of his company.

National Service

Curt serves on the National Advisory Board for Sperry Van Ness International Corporation and assists in guiding the brand nationally.  He regularly participates in national recruiting calls and often serves as speaker or moderator at national SVN events.

Curt is a top 50 producer for Sperry Van Ness International. He was the recipient of the 2010 Humanitarian of the Year for his community service in Salem, where he lives with his wife and his two children.

 *All Sperry Van Ness® offices are independently owned and operated.