Regional Summaries

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Suburban Virginia

The 187,435-unit Northern Virginia apartment market recorded a fourth quarter 2017 vacancy rate of 5.1%. Since 5.0% or lower is generally considered to be a full market, Northern Virginia is just shy of that mark. The current rate is up 30 basis points for the quarter and up 20 year-over-year. The rate was flat through January 2018. Average asking and effective rents fell 0.6% and 0.8% in the fourth quarter of 2017, according to Reis. The average asking rent was $1,792 per month, and the average effective rent was $1,712 per month. These rates were up 2.6% and 1.4% for the year. Asking and effective rents rose 0.4% and 0.3% in January in 2018.
Net absorption had a strongly negative fourth quarter of 2017 in Northern VirginiaÂ’s 140.6-million-square-foot general purpose, multi-tenant office market, although the yearly total was positive. The area still struggles under the weight of empty office buildings and a correspondingly high vacancy rate. The vacancy rate for office space finished the fourth quarter of 2017 at 19.7%, up 40 basis points from the prior quarter and down 20 basis points over 12 months. January 2018 data show a slight increase. Reis reports fourth quarter 2017 average asking and effective rents of $33.55 psf and $28.05 psf for office space in Northern Virginia. Asking and effective rents rose 0.7% and 0.8% during the quarter and were up 1.4% and 1.5% for the year. January 2018 data show 0.2% gains for both rental categories.
The Northern Virginia community-neighborhood shopping center market finished 2017 with another round of strong rent gains. Vacancy remains low, but net absorption had a bad year. The Northern Virginia community-neighborhood shopping center market posted a 5.7% vacancy rate in the fourth quarter of 2017, down 10 basis points over the quarter and up 60 year-over-year. Reis reports fourth quarter 2017 average asking and effective rents of $30.40 psf and $27.05 psf for community-neighborhood shopping center space in Northern Virginia. These rents are up 0.6% and 0.7% for the quarter and up 2.8% and 2.9%, respectively, over the year. Asking and effective rents were flat in January 2018.

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.

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