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Regional Summaries

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Phoenix, AZ

Apartment
Fourth quarter 2017 vacancy in the Phoenix apartment market was 4.7%, up 20 basis points for the period and up 40 for the year following a 30-basis-points decline through 2016. A sum of 10 basis points was added to the rate in January 2018. Rent growth, running strongly at about 6.0% in both 2015 and 2016, slowed in 2017 but remained strong. Rental prices, meanwhile, are modest by national norms for major markets. At $968 and $912 per month, asking and effective averages for the fourth quarter were up 3.6% and 5.0% for the year. Gains in the fourth quarter alone were 1.1% and 1.5%. Increases of 0.5% followed in January 2018 for both averages. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the warehouse/distribution market, PhoenixÂ’s most dynamic industrial real estate sector, has been declining more or less steadily from the near-20.0% high recorded for year-end 2010. Indeed, the decline has been relatively rapid. By the end of the fourth quarter of 2017, the rate had fallen to 13.3%, a loss of fully 130 basis points for the year following a 130-basis-points decline the year before as well. The loss in the fourth quarter alone was 10 basis points, which had been added back by the end of January 2018. At $5.84 psf and $5.34 psf, respective fourth quarter 2017 asking and effective averages for space in this sector were up 2.6% and 3.1% year-over-year following increases of 3.5% and 3.4% in 2016. Gains for the fourth quarter alone were 0.7% and 0.8%. No changes, meanwhile, followed in January 2018. Vacancy in the local Flex/R&D space market, also elevated, has been declining. The fourth quarter 2017 rate was 15.8%, down 60 basis points from a quarter earlier and down 90 for the year following 2016Â’s loss of fully 320 basis points. In the wake of a large completion total, January 2018 saw a 10-basis-points increase in the rate. At $10.77 psf and $9.60 psf, respective fourth quarter average asking and effective rates for Flex/R&D space represented gains for the year of 1.6% and 1.7% on the heels of the increases of 1.6% and 1.9% in 2016. Increases for the fourth quarter alone were 0.4% and 0.3%. Gains of 0.2% and 0.1% followed in January 2018. VIEW INDUSTRIAL LISTINGS >
Office
PhoenixÂ’s general purpose, multi-tenant fourth quarter 2017 vacancy rate at 22.4% was down 20 basis points for the period and down 40 for the year following a loss of 90 in 2016. January 2018 saw a 20-basis-points increase in the vacancy rate. Reis put fourth quarter average asking and effective lease rates at $25.32 psf and $19.79 psf, up 2.1% and 2.4% for the year on the heels of the gains of 3.8% and 4.0% in 2016. Gains for the fourth quarter alone were 0.4% and 0.5%. January followed with one cent increases for both rates. VIEW OFFICE LISTINGS >
Retail
The vacancy rate in the Phoenix community-neighborhood shopping center market has run in the range of 10.0% to 10.5%, for the most part, since year-end 2013. It closed the fourth quarter of 2017 at 10.0%, down 10 basis points for the period but identical to the rate reported for year-end 2016—after that year’s 60-basis-points decline. January 2018 brought no change. At $20.45 psf and $17.56 psf, fourth quarter community-neighborhood center average asking and effective rents were up 2.4% and 2.5% for the year following 2016’s gains of 1.2% and 1.3%. Growth rates for the fourth quarter alone were strong at 1.7% and 1.8%. No changes followed in January 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

CBC NRT NNN Investment Report

This is a market report that Coldwell Banker Commercial NRT prepared for the CBC Global Conference. This report provides the 2018 forecast of net-lease properties and details why NNN properties remain well-positioned for continued success and growth in the coming months.

The U.S. Gulf Coast & Its Vital Interstate-10 Corridor

CBC Infographics

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The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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