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Spokane, WA | 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: Spokane, WA

Spokane - Top Retail Market to WatchThe economy of Spokane is attempting to recreate itself from a natural products producer to a more high tech and business-focused cluster but, so far, the results remain mixed. Unemployment has grown recently to 7.7% in January ‘16 but new job creation is occurring at a 1.7% annualized rate, according to the Bureau of Labor Statistics. Top sectors adding jobs include Information, Professional and Business Services, and Educational and Health Services, which are growing at annualized rates of 13.8%, 6.3%, and 3.6%, respectively. Population grew 4.2% from 2010 to 2015, according the Census Bureau, which means that overall demand for retail could grow. Still, sustained reductions in unemployment will need to be seen for significant growth to occur. As the tech industry grows, this is possible.

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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Seattle, WA | 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: Seattle, WA

Seattle - Top Multifamily Market to WatchSeattle is one of the fastest growing cities on the West Coast, with a population that grew 9.8% from 2010 to 2014, according the Census Bureau. Job growth continues at an annualized pace of 3.0% while unemployment has been stable with the latest reading in January ‘16 of 5.6%, according to the Bureau of Labor Statistics. Seattle is an expensive city to live in and as such approximately 54% of the housing units are rentals, according to the Census Bureau. The need for ample housing is real and multifamily assets should perform well for 2016 and beyond. Rents are expected grow over 5% as new supply hits record highs to fill new demand. The best sectors for job creation include Information, Leisure and Hospitality, Trade, Transportation, and Utilities, and Financial Activities, which are growing at 8.1%, 5.0%, 4.2%, and 4.1% annualized rates, respectively.

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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Seattle, WA | 2016 Top #CRE Markets to Watch: Industrial

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 Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2016 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: Seattle, WA

Seattle - Top Industrial Market to WatchSeattle has experienced significant job growth since the recession and continues to add jobs at an annualized rate of 3.0%, keeping unemployment stable at 5.6% as of January ‘16, according to the BLS. As Seattle hosts major West Coast ports, a major airport, and excellent rail linkages, trade and distribution activities dominate the industrial real estate market. Employment in the Trade, Transportation, and Utilities sector is growing at an annualized rate of 4.2%, making up for losses in the Manufacturing sector that is contracting at an annualized rate of –0.9%. Overall, the Puget Sound ports and infrastructure should drive robust demand for industrial real estate as more and more ship traffic is routed up north from congested Long Beach, California.

Advisor Insights: SVN | Raven

SVN’s Seattle-based Advisors at SVN | Raven have some industrial market highlights to share. Here’s what to look out for in the Seattle industrial market in 2016:

  • Tear down old outdated commercial space for new modern distribution centers
  • HUB/community space on outdated office/industrial flex
  • Owner-user acquisition buildings for assemblage for larger projects

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 industrial markets, download the full version of the 2016 Industrial Market Outlook report here.

2016 Industrial Market Outlook

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Seattle, WA | 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: Seattle, WA

Seattle: 2015 Industrial Markets to WatchSeattle’s industrial vacancy rate fell to 4% in the first quarter of 2015, down more than 100 basis points from a year earlier. High occupancy rates, impressive rent growth trends, and investors’ favorable assessment of the general market opportunity are prompting significant new development. More than 4 million square feet was under construction in late 2014, representing more than 3% of the market’s current industrial inventory.

With one of the fastest growing urban cores and most highly educated populations, Seattle’s economic and investment outlook position the Puget Sound region as a contender for gateway market status. In the Urban Land Institute’s latest Emerging Trends Report, Seattle ranks in the top ten markets nationally for its attractiveness as a target for investment across all property types. It ranked fourth nationally for development and redevelopment opportunities, behind only Houston, Dallas, and San Jose and ahead of all of the coastal gateways. For industrial investment specifically, Seattle ranked second in the nation, 88% of investors assigned Seattle’s industrial sector a buy or hold rating while only 12% reported a sell recommendation.

To read more on Seattle 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.

Seattle & Tacoma, WA | 2014 Top CRE Markets to Watch : Industrial

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 Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 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 : Seattle and Tacoma, Washington

seattle-416065_1280Seattle’s port handled 3 million TEUs of containerized cargo in 2013, placing it among the nation’s top five ports for finished goods. The port is PPMX-ready, meaning it has the required channel depth and cranes to handle the largest, fully loaded cargo ships that will be in common use following the reopening of the expanded Panama Canal in 2015. The nearby Port of Tacoma, too, has been PPMX-ready since 2011, after having dredged its channels to the necessary depth and adding massive gantry cranes. Tacoma’s containerized cargo volume has surged to more than 1 million TEUs per year as a result, and helped to fuel additional demand for industrial space. Falling market-wide vacancy is nearing 5 percent and demand for space is generating build-to-suits as well as accelerating absorption, which spiked to 1.5 million square feet in the fourth quarter of 2013 alone. The market added more than 1 million square feet of new space in 2013 and has more than twice that amount under construction. A strong employment base, rooted in energy and technology and enjoying a boost in aerospace manufacturing, has helped Seattle to more than recover the number of jobs it lost in the Great Recession. Projected household growth near 5 percent bodes well for the market’s distribution centers. While the newly refitted Port of Tacoma is expanding its market share of cargo traffic, Seattle is also feeling increased competitive pressure from Prince Rupert, a Canadian seaport in British Columbia that is also PPMX-ready following recent upgrades to its facilities.

To read more on Seattle and Tacoma, and other top industrial markets, download the full version of the Top Industrial 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

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