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Commercial Real Estate INSIGHTS

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COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Suburban Maryland

Apartment
Vacancy increased slightly in the Suburban Maryland apartment market. The second quarter 2019 vacancy rate was 4.5%, up 20 basis points from the prior quarter and up the same amount from one year earlier. The average asking rent and the average effective rent rose 1.2% and 1.0% in the second quarter, to $1,614 and $1,544 per month. The full percentage point gains in the second quarter are complemented by year-over-year gains of 3.3% and 2.8%.
Industrial
Suburban Maryland's warehouse/ distribution market finished the second quarter of 2019 with a 9.8% vacancy rate, unchanged over the quarter and up 40 basis points for the year. Reis reports a second quarter asking rents of $8.23 psf, up 0.4% for the quarter and 1.7% for the year. Effective rents, at $7.64 psf, are up 0.3% for the quarter and 2.0% for the year. The Flex/R&D market's second quarter 2019 vacancy rate, at 9.5%, was up 30 basis points over the quarter and down 50 basis points over 12 months. The second quarter average asking rent, at $12.15 psf, rose 0.4% over the quarter with the effective average at $11.15 psf, up 0.3%. These rates were up 1.3% and 1.7% over 12 months.
Office
Vacancy remained unchanged in Suburban Maryland's general purpose, multi-tenant office market in the second quarter of 2019, at a 19.1% rate. That is up 60 basis points year-over-year. Reis reports average asking and effective rents of $29.76 psf and $24.49 psf in the second quarter of 2019, up one and two cents for the quarter following an increase of just 0.4% for both measures the prior quarter. These rates are up 0.8% and 0.9% over the year.
Retail
The Suburban Maryland community-neighborhood shopping center market saw a slight decrease in the vacancy rate in the second quarter of 2019. The second quarter's 7.6% vacancy rate was down 10 basis points for the period and down 10 for the year. Reis reports average asking and effective rents for community-neighborhood shopping center space at $27.61 psf and $24.55 psf, respectively, each down 0.1% for the quarter. These rates were up 1.5% year-over-year.

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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