University of Denver. Dividend Capital Research

Size: px
Start display at page:

Download "University of Denver. Dividend Capital Research"

Transcription

1 Glenn R. Mueller, Ph.D. Professor University of Denver Franklin L. Burns School of Real Estate & Construction Management & Real Estate Investment Strategist Dividend Capital Research

2 Why Real Estate Fits an Investment Portfolio = SIZE U.S. Real Estate vs. Other Asset Classes Source: Bonds = SIFMA, January 204; Equities = World Federation of Exchanges for Equities, January 204; U.S. Real Estate = Moody s Real CPPI, January 204. This investment is subject to real estate risks associated with operating and leasing properties. Additional risks include changes in economic conditions, interest rates, property values, and supply and demand, as well as possible environmental liabilities, zoning issues and natural disasters.

3 Exhibit 5 Key Macro Economic Factors + Population Growth Exhibit 2 GDP Growth Employment Growth 5.0% 4.0% 3.0% 2.0%.0% 0.0%.%.8% 2.5% 3.6% 3.% 2.7%.9% 0.0% 2.8% 2.8% 4.4% 4.4% 3.% 4.0% 3.0% 2.0%.0% 0.0%.0% 2.0% 0.0%.2%.% 0.3%.7%.8%.% 0.6% 0.5%.0% 2.0% 3.3% 2.9%.0% 3.0% 2.0% 2.6% 3.0% Source: Moody s Précis U.S. Metro December 200; Bureau of Economic Analysis (bea.gov) YrTreas 0.00 /3/2 /3/2 /3/2 /3/2 /3/2 /3/2 Interest Rates 3M LIBOR /3/2 /3/2 /3/2 /3/2 /3/2 /3/2 /3/2 /3/2 /3/2 4.0% 5.0% 4.3% Source: Moody s Précis U.S. Metro December 200, Bureau of Labor Statistics (bls.gov) Exhibit 3 Infla on 4.0% 3.4% 3.5% 3.8% 3.0% 2.9% 3.2% 2.8% 2.9% 2.5% 2.3% 2.7% 2.0%.6% 2.5% 2.5%.5%.6%.6%.0% 0.5% 0.0% 0.5% 0.3%.0% Source: Moody s Précis U.S. Macro September 200; Bureau of Labor Statistics (bls.gov)

4 Positive GDP Leads Employment Recovery Recessions last a year or less - Recovery & Growth cycles can be short of long GDP & EMP Recessions Source: U.S. Bureau of Labor Statistics, December 203; U.S. Bureau of Economic Analysis, December 203; Moody s, 203.

5 Economic Outlook 9,000,000 Real Estate Occupancy is Demand Driven by Employment Growth Real Estate a Delayed Mirror of the Economy 8,500,000 8,000,000 7,500,000 7,000,000 6,500,000 6,000,000 5,500,000 5,000,000 4,500,000 4,000,000 Industrial Office Retail Employment Source: Property and Portfolio Research, January 204. Employment & Property Occupied Stock is the top 54 MSA s covered by PPR

6 Market Cycle Analysis Physical Cycle Demand & Supply drive Occupancy Occupancy drives Rental Growth

7 US Commercial Real Estate Cycle Follows US Economic Cycles 3 Key Metrics: Occupancies Rents Prices Source: Glenn Mueller, PhD

8 Market Cycle Quadrants Phase 2 - Expansion Phase 3 - Hypersupply Demand/Supply Equilibrium Point Occupancy Long Term Occupancy Average Phase - Recovery Phase 4 - Recession Source: Mueller, Real Estate Finance 995 Time

9 Occupancy Rents Rise Rapidly Toward New Construction Levels Long Term Average Occupancy 5 4 Below 3 Inflation 2 Rental Negative Growth Rental Growth High Rent Growth in Tight Market Demand/Supply Equilibrium 0 Cost Feasible New Construction Rents Rent Growth Positive But 2 Declining 3 Physical Market Cycle Characteristics 4 -Below Inflation & 5 Negative Rent Growth 6 Time

10 Historic National Office Rental Growth.0% Occupancy 0.5% 6.% % % 3 0.0% 3.3% Long Term Average Occupancy 7.7% 6 6.7% 4 0.3% % -3.0% -.0% 3.6% 2 2.7% 6 30 Year Cycle - Periods % Time

11 Historic National Industrial Rental Growth % 8.3% Long Term Avg Occupancy 3.0% 6 6.8% 0 5.% % 7 3.8% 2 5.9% 4.6% 3 4.8% 4 Occupancy 0.8% -2.% % 4 0.4% % 0.7% 30 Year Cycle - Periods % Time

12 National Property Type Cycle Locations Phase II Expansion Phase III Hypersupply Hotel Full-Service Hotel Ltd. Service Retail st Tier Regional Mall Apartment Health Facility Retail Factory Outlet Retail Neighborhood/Community Office Downtown Industrial R&D Flex Senior Housing 8 9 Industrial Warehouse 0 2 LT Average Occupancy Office Suburban Retail Power Center Phase I Recovery 2nd Qtr 204 Source: Mueller, 204 Phase IV Recession

13 Office Market Cycle Analysis 2nd Quarter, 204 Albuquerque Chicago East Bay Long Island Los Angeles Norfolk N. New Jersey San Antonio Stamford Wilmington Wash DC 2 3 Cincinnati Cleveland Kansas City Las Vegas Milwaukee Orange County St. Louis Detroit Ft. Lauderdale+ Hartford+ Houston Indianapolis Memphis Oklahoma City Orlando Palm Beach Philadelphia Phoenix Richmond Sacramento San Diego Charlotte Tampa Riverside NATION 4 5 Atlanta Baltimore Boston Columbus Dallas FW Denver Jacksonville Miami Minneapolis New Orleans Seattle 6 7 New York Pittsburgh Portland Raleigh-Durham San Jose Austin Nashville+ Salt Lake San Francisco+ 8 9 Honolulu 0 LT Average Occupancy Source: Mueller,

14 Norfolk Orange County Industrial Market Cycle Analysis 2ndQuarter, 204 Atlanta Baltimore Cleveland Detroit East Bay Ft. Lauderdale Memphis Milwaukee Nashville St. Louis+ Tampa+ NATION Jacksonville Richmond 6 Columbus Houston Indianapolis Kansas City Miami Minneapolis Palm Beach+ Pittsburgh Portland San Antonio San Diego 7 Austin Dallas FW Honolulu San Jose Seattle Los Angeles+ Riverside Salt Lake Denver San Francisco LT Average Occupancy Hartford Sacramento Stamford 3 4 Las Vegas Long Island New Orleans+ Oklahoma City Orlando Philadelphia Phoenix Wash DC 5 Boston Charlotte+ Chicago Cincinnati New York N. New Jersey Raleigh-Durham+ Source: Mueller,

15 LT Average Occupancy Apartment Market Cycle Analysis 5 2nd Quarter, Honolulu 7 Detroit Philadelphia 8 Source: Mueller, 204 Jacksonville- Las Vegas- Riverside Sacramento- 9 0 Austin Cleveland- Ft. Lauderdale+ Indianapolis- Kansas City Memphis- Orange County Orlando Atlanta Baltimore Boston Chicago Cincinnati Columbus- Dallas FW East Bay Hartford Houston Long Island Los Angeles Nashville Palm Beach Phoenix Pittsburgh Richmond Seattle Tampa- Wash DC 2 Miami Milwaukee Minneapolis New Orleans N. New Jersey New York Portland Salt Lake San Antonio- San Diego San Francisco San Jose NATION 3 Charlotte Denver Oklahoma City Raleigh-Durham Stamford St. Louis Norfolk

16 Cleveland Richmond Retail Market Cycle Analysis 2nd Quarter, 204 Atlanta Dallas FW Las Vegas Nashville N. New Jersey Philadelphia Phoenix Riverside Sacramento 6 Denver Austin Boston East Bay+ Minneapolis Raleigh-Durham+ San Diego San Jose Baltimore Houston+ Long Island Los Angeles Portland Seattle Miami Pittsburgh Salt Lake Wash DC Honolulu New York San Francisco 2 LT Average Occupancy 3 4 Detroit Chicago Cincinnati Jacksonville Kansas City Memphis Milwaukee Norfolk Oklahoma City Orange County St. Louis 5 Palm Beach San Antonio Tampa NATION Charlotte Columbus+ Ft. Lauderdale Hartford Indianapolis New Orleans Orlando Stamford Source: Mueller,

17 Cincinnati Hartford Norfolk 2 Richmond+ Riverside Sacramento Stamford 3 Hotel Market Cycle Analysis 2nd Quarter, 204 Cleveland Detroit Indianapolis Memphis+ Milwaukee Oklahoma City+ Orange County 4 5 Columbus Jacksonville Kansas City+ Phoenix Raleigh-Durham San Antonio New Orleans 6 7 Baltimore+ Dallas FW St. Louis Salt Lake Atlanta+ Houston Los Angeles Minneapolis N. New Jersey Philadelphia+2 Tampa+ 8 9 Charlotte+ Chicago Las Vegas+ Nashville Pittsburgh Wash DC NATION Austin Boston Denver East Bay Ft. Lauderdale Miami Orlando Portland San Diego+ San Francisco San Jose Seattle 0 Source: Mueller, 204 Honolulu+ New York Palm Beach 2 Long Island 3 LT Average Occupancy 4 5 6

18 970s Cycle Factors Driving The First Half Cycle (5 Year) Strong Demand from the 960s that stopped Recession 974 Capital Flow - Mortgage REITs produced oversupply Factors Driving The Second Half Cycle (5 Year) Baby Boom Generation Goes to Work = Demand Capital Flow Shut Down = no supply = Lenders Recover Markets tighten and reach peak occupancy 979 (5% vacancy)

19 8% 970s Office Demand & Supply Demand Supply 6% 4% 2% 0% Oversupply Years Baby Boomers Go To Work Source: FW Dodge, CB Commercial, BLS, Mueller

20 980s Cycle Factors Driving The First Half Cycle (5 Year) Tight market in 979 pushes rents and prices up Inflation pushes real estate prices higher Tax Act of 98 attracts taxable investors supply up Thrift Deregulation allows capital to flow Factors Driving The Second Half Cycle (5 Year) Tax Act of 986 slows taxable investors, but not tax free Poor stock market attracts Pension & Foreign capital Rising R.E. prices masks poor income returns

21 0% 8% 6% 4% 2% 0% 980s Office Demand & Supply Demand Oversupply Years Supply Source: FW Dodge, CB Commercial, BLS, Mueller

22 990s Cycle Factors Driving The First Half Cycle (5 Year) Moderate but stable demand growth (99 recession minor) Oversupply and Foreclosures shut down construction Excess space Absorbed Markets Recover Factors Driving The Second Half Cycle (5 Year) Moderate Demand growth Continues Oversupply Absorbed and Return Performance improves Construction Constrained causing rents & prices to rise More Efficient Markets match supply to demand

23 3.0% 2.5% 2.0%.5%.0% 0.5% 0.0% 990s Office Demand & Supply Demand Oversupply Absorbed Supply Demand Supply Matched Source: FW Dodge, CB Commercial, BLS, Mueller

24 2000s Cycle Demand Globalization - creates more stable U.S. economy Job Growth out of Technology Change 2.8 million population growth per year for 0 years Baby boomers at highest income earning years second home market wave Echo boom children college, first job, & renting Aging population not a major factor till 204 Employment Growth drives commercial demand

25 2000s Cycle Supply Constraint Public Markets make R.E. Capital markets efficient Economically Driven capital - low spec construction Research Watchdogs Data Available Constrained Supply (economically driven capital) construction labor harder to find materials costs increasing (steel, concrete) infrastructure problems constrain growth Feedback loop keeps demand and supply in better balance greater transparency Faster reaction to demand slowdown

26 Stock Growth Beginning to Increase Stocks growth started to increase in 203 from a 42 year low Source: Property and Portfolio Research, August 203.

27 2000s US Office Demand & Supply 4.0% Office Demand & Supply 3.0% 2.0%.0% 0.0% -.0% % -3.0% Supply Reacted to Demand Slow Down Source: Property & Portfolio Research, Grubb & Ellis, Mueller 2009.

28 National Property Type Cycle Forecast Phase II Expansion Phase III Hypersupply Industrial Warehouse Retail Neighborhood/Community Retail Factory Outlet Hotel Full-Service Hotel Ltd. Service Retail st Tier Regional Malls Retail Power Center 2 3 Office Suburban Health Facility Industrial R&D Flex Office Downtown Senior Housing LT Average Occupancy Apartment Phase I Recovery 2nd Qtr 205 ESTIMATE Source: Mueller, 204 Phase IV Recession

29 Occupancy Cycle and Rent Growth Office Source: Property and Portfolio Research, Grubb & Ellis, Mueller August 203.

30 Office Market Cycle FORECAST 2nd Quarter, 205 Estimates Chicago Long Island Los Angeles Milwaukee St. Louis Wash DC 2 3 Albuquerque Cincinnati Detroit East Bay Hartford+2 Kansas City Norfolk San Antonio 4 N. New Jersey Atlanta Stamford Cleveland Denver Ft. Lauderdale+ Houston Indianapolis Las Vegas+ Memphis Orange County Baltimore Boston Dallas FW Jacksonville Minneapolis New Orleans Charlotte Columbus Miami Palm Beach Philadelphia Phoenix Richmond Sacramento San Diego San Jose Seattle Tampa NATION Oklahoma City Orlando Pittsburgh Riverside New York Portland Raleigh-Durham San Francisco+ 8 9 Austin Honolulu Nashville+ Salt Lake 0 Source: Mueller, LT Average Occupancy 4 5 6

31 Occupancy Cycle and Rent Growth Industrial Source: Property and Portfolio Research, Grubb & Ellis, Mueller August 203.

32 Industrial Market Cycle FORECAST 2nd Quarter, 205 Estimates 2 3 Richmond Long Island 4 Hartford Milwaukee New Orleans+ Oklahoma City Orlando Philadelphia Phoenix Wash DC 5 6 Norfolk Orange County Sacramento Stamford Charlotte+ Cincinnati Columbus- Ft. Lauderdale+ Miami Minneapolis Pittsburgh NATION 7 8 Atlanta Boston Baltimore Chicago Cleveland Detroit East Bay Jacksonville Kansas City Las Vegas Memphis+ Nashville New York Raleigh-Durham St. Louis+ Tampa Houston Indianapolis N. New Jersey San Antonio San Diego 9 0 Austin Dallas FW Honolulu Portland Riverside Seattle Denver Los Angeles+ Palm Beach+ Salt Lake San Francisco+ San Jose 2 Source: Mueller, LT Average Occupancy 5 6

33 Occupancy Cycle and Rent Growth Apartment Source: Property and Portfolio Research, Grubb & Ellis, Mueller August 203.

34 LT Average Occupancy 2 3 Apartment Market Cycle FORECAST 2nd Quarter, 205 Estimates Detroit 7 Las Vegas Honolulu 8 9 Source: Mueller, 204 Baltimore Cincinnati East Bay Milwaukee New York Sacramento- San Diego- 0 Riverside+3 Atlanta Boston Chicago Columbus- Dallas FW Hartford Jacksonville Long Island Los Angeles Miami 2 Charlotte Cleveland Ft. Lauderdale Houston Indianapolis Kansas City Memphis Minneapolis Nashville New Orleans- N. New Jersey Philadelphia Pittsburgh Portland Richmond Salt Lake San Jose NATION 3 Austin Denver Orlando Raleigh-Durham Seattle Wash DC Norfolk Oklahoma City Orange County Palm Beach Phoenix San Antonio San Francisco Stamford St. Louis Tampa

35 Occupancy Cycle and Rent Growth Retail Source: Property and Portfolio Research, Grubb & Ellis, Mueller August 203.

36 Retail Market Cycle FORECAST 2nd Quarter, 205 Estimates Atlanta Columbus+ Dallas FW Las Vegas Milwaukee Nashville N. New Jersey Philadelphia Phoenix Sacramento Cleveland Detroit St. Louis New Orleans+ Orlando Palm Beach Tampa+ NATION 6 Chicago Cincinnati Kansas City Memphis Norfolk Oklahoma City Orange County Richmond Riverside 7 Denver Portland Charlotte Ft. Lauderdale Hartford Indianapolis Jacksonville San Antonio Stamford Baltimore Houston+ Long Island Los Angeles Raleigh-Durham Seattle Austin East Bay+ Minneapolis Pittsburgh San Diego San Jose Wash DC LT Average Occupancy Source: Mueller, 204 Boston Honolulu Miami New York Salt Lake San Francisco

37 Occupancy Cycle and Rent Growth US Hotel 8% 4% 0% 4% 8% 2% Hotel Occ Hotel Rent Growth

38 Norfolk 2 3 Cincinnati Hartford Richmond 4 Hotel Market Cycle FORECAST 2nd Quarter, 205 Estimates 5 Columbus Jacksonville Riverside Sacramento San Antonio Stamford Dallas FW Oakland St. Louis Salt Lake Kansas City+ Memphis Oklahoma City Phoenix Raleigh-Durham 6 7 Baltimore Cleveland Detroit Indianapolis Milwaukee Orange County Charlotte+ Las Vegas+ Nashville New Orleans Wash DC NATION LT Average Occupancy N. New Jersey Philadelphia Atlanta+ Chicago Houston Los Angeles Minneapolis Tampa+ Austin Boston Denver East Bay Ft. Lauderdale Honolulu Orlando Pittsburgh+3 Portland San Diego+ San Francisco San Jose Seattle Long Island Miami New York Palm Beach Source: Mueller,

39 Financial Cycle Capital Flows affect Prices

40 Market Cycle Capital Flow Impact Capital Flows to Existing Properties Cost Feasible Rents Reached Hyper Supply LT Occupancy Avg. Capital Flows to New Construction

41 Bond Values DROP as Interest Rates Rise Bond Values DROP as Interest Rates Rise 0 Year Treasury Yields e 0-Year Treasury Yield Average Total Return Peak = 3.9% Average Total Return = 8.7% Average Yield = 6.% Average Total Return =.9% Source: U.S. Treasury Federal Reserve Bank of St. Louis, April 204; Moody s Forecast, 204.

42 U.S. Commercial Property Prices U.S. Transaction Volume Source: Real Capital Analytics, Inc., 204.

43 Portfolio Buyers Dominate Trades Billions Q 02Q 03Q 04Q 05Q 06Q 07Q 08Q 09Q 0Q Q 2Q 3Q Individual Portfolio Source: Real Capital Analytics April 203

44 Debt Capital Flows CMBS Issuance $ Billions Source: Commercial Mortgage Alert

45 Property Price Cycle Recovering Real Capital Analytics Real Commercial Property Price Index Current Price Recovery to 2007 Peak % CBD Office 08% Apartment 6% Retail 84% Industrial 90% Suburban Office 80% Major Markets = 08% Secondary Markets = 89% Source: Real Capital Analytics, Inc., May 204.

46 Next Favored Tier of Markets - getting capital Rebounding RCA CPPI Still Challenged SEA MIA PHILA TXS PHX ATL LAS

47 Property Price Cycle Recovering Historic Cap Rates Source: Real Estate Research Corporation Chicago, April 204.

48 Wide Yields Attracting Capital Spread Between Cap Rates and 0-Year Treasury by Sector Source: Real Capital Analytics, Q 204.

49 Composition of CRE Buyers 00% 90% Cross-Border Inst'l/Eq Fund Listed/REITs Private User/other 8% 9% 6% 8% 0% 9% 0% 6% 80% 70% 45% 23% 7% 27% 32% 28% 24% 60% 9% 7% 4% 9% 50% 8% 40% 0% 53% 30% 20% 33% 47% 37% 34% 4% 40% 0% 0% 4% 9% 9% 3% 6% 7% 5% '07 '08 '09 '0 ' '2 '3

50 Debt Capital: Credit Conditions Improving Composition of Lenders Office Industrial Retail Apartment Hotel 00% 0% 90% 7% 5% 3% 0% 3% 80% 50% 2% 2% 0% 7% 2% 70% 0% 60% 50% 3% 46% 6% 33% 7% 3% 4% 3% 20% 4% 40% 5% 2% 2% 30% 30% 20% 0% 22% 29% 2% 3% 2% 8% 25% 4% 4% 2% 0% 0% CMBS Financial Gov't Agency Insurance Int'l Bank Nat'l Bank Reg'l/Local Bank Pvt/Other

51 Slowing Transactions A Common Trend AMERICAS EMEA ASIA PAC

52 Global Trade Routes Capital Flows Coming from Around the World Source: Real Capital Analytics, December 203.

53 2008 Physical and Financial Cycle 204 Physical Cycle Demand & Supply affect occupancies drives rental growth Employment growth resumed 2Q 200 RE Demand growth resumed 2Q 200 Supply growth slowest in 43+ years (203 the bottom) supply increases in 204? RE moving to growth (depending on market & property type) 204 Financial Cycle Capital flows affect prices stock market rebound 203, volatile in 204? Real estate was safest investment alternative , pushing prices up Real estate prices dropped 2008, 2009 = buying opportunities Debt financing hard in creating buying opportunity for Cash Buyers Differentiate residential versus commercial real estate to your investors!

54 Economic Fundamentals 5 key Macro Economic Indicators Economic Base Analysis Real Estate Physical Cycle Fundamentals Demand for Real Estate Supply of Real Estate Occupancy Cycles Rent Cycles Real Estate Financial Cycle Fundamentals Capital Flows Prices Cap Rates Interest Rates

Glenn R. Mueller, Ph.D. Professor University of Denver. Franklin L. Burns School of Real Estate & Construction Management & Dividend Capital Research

Glenn R. Mueller, Ph.D. Professor University of Denver. Franklin L. Burns School of Real Estate & Construction Management & Dividend Capital Research Real Estate Cycles Glenn R. Mueller, Ph.D. Professor University of Denver Franklin L. Burns School of Real Estate & Construction Management & Real Estate Investment Strategist Dividend Capital Research

More information

Glenn R. Mueller, Ph.D. Professor University of Denver. Franklin L. Burns School of Real Estate & Construction Management &

Glenn R. Mueller, Ph.D. Professor University of Denver. Franklin L. Burns School of Real Estate & Construction Management & Real Estate Cycles Glenn R. Mueller, Ph.D. Professor University of Denver Franklin L. Burns School of Real Estate & Construction Management & Real Estate Investment Strategist Dividend Capital Research

More information

University of Denver

University of Denver Glenn R. Mueller, Ph.D. Professor University of Denver Franklin L. Burns School of Real Estate & Construction Management & Real Estate Investment Strategist glenn.mueller@du.edu Supply The new supply of

More information

Get Smart Market Insights from Our Research Team Customer Conference

Get Smart Market Insights from Our Research Team Customer Conference Get Smart Market Insights from Our Research Team 217 Customer Conference Presenters Amanda Nunnink Amanda Nunnink Steve Steve Guggenmos Guggenmos Sara Steve Hoffman Griffin Steve Sara Griffin Hoffmann

More information

Hotel Valuation and Transaction Trends for the U.S. Lodging Industry

Hotel Valuation and Transaction Trends for the U.S. Lodging Industry Hotel Valuation and Transaction Trends for the U.S. Lodging Industry June 2010 Presented by Steve Rushmore, MAI, FRICS, CHA srushmore@hvs.com - 1 - Value Trend for a Typical U.S. Hotel 1987 1988 1989 1990

More information

Lower Income Journey to Work Market Share From American Community Survey

Lower Income Journey to Work Market Share From American Community Survey Lower Income Journey to Work Market Share From American Community Survey 2006-2010 Table 1: Overall National Data Table 2: Car, Truck or Van Table 3: Transit Table 4: Metrics Table 1 Work Trip Market Share:

More information

Emerging Trends in Real Estate Sustaining Momentum but Taking Nothing for Granted

Emerging Trends in Real Estate Sustaining Momentum but Taking Nothing for Granted Emerging Trends in Real Estate 2015 Sustaining Momentum but Taking Nothing for Granted PwC-ULI Outlook on trends 36th edition 368 interviews 1,055 survey responses 1,400+ participants, a record Who? District

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

MANGO MARKET DEVELOPMENT INDEX REPORT

MANGO MARKET DEVELOPMENT INDEX REPORT MANGO MARKET DEVELOPMENT INDEX REPORT 2015-2016 UNDERSTANDING THE MARKET INDEX The Mango Market Development Index is designed to measure and compare mango sales volume relative to population by region

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

U.S. Lodging Industry Update

U.S. Lodging Industry Update U.S. Lodging Industry Update First Watch on a Long Voyage R. MARK WOODWORTH AMERICAS RESEARCH AGENDA THE ECONOMY WHAT COULD END THE CURRENT CYCLE? LABOR COSTS OUR FORECASTS SHARING ECONOMY UPDATE First

More information

Rent Monitor. First Quarter Vol. 83 % GROWTH IN NATIONAL RENTS BY SECTOR NATIONAL EFFECTIVE RENTS BY SECTOR TOP 5 MARKETS GAINING MOMENTUM**

Rent Monitor. First Quarter Vol. 83 % GROWTH IN NATIONAL RENTS BY SECTOR NATIONAL EFFECTIVE RENTS BY SECTOR TOP 5 MARKETS GAINING MOMENTUM** Rent Monitor TM Asking Rents Vol. 83... Effective Rents... Concessions NATIONAL EFFECTIVE RENTS BY SECTOR 5 YEARS % GROWTH IN NATIONAL RENTS BY SECTOR 12 MONTHS 110 105 100 95 INDEX 1Q 2001 = 100 +4. +4.

More information

Mango Market Development Index

Mango Market Development Index Mango Market Development Index 2016-2017 Understanding the Market Index The Mango Market Development Index is designed to measure and compare mango volume sold at retail relative to population by region

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

Location, Location, Location. 19 th Annual NIC Conference NIC MAP Data & Analysis Service

Location, Location, Location. 19 th Annual NIC Conference NIC MAP Data & Analysis Service Location, Location, Location 19 th Annual NIC Conference NIC MAP Data & Analysis Service The Great Occupancy Decline 94% Occupancy Trends Majority Nursing Seniors Housing 93% 92% 91% 92.8% 91.0% 90% 89%

More information

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities

Monthly Employment Watch: Milwaukee and the Nation's Largest Cities Monthly Employment Watch: Milwaukee and the Nation's Largest Cities A monthly report on employment trends in the nation s largest cities Prepared by: The University of Wisconsin-Milwaukee Center for Economic

More information

WILL TOMORROW BE BETTER THAN YESTERDAY?

WILL TOMORROW BE BETTER THAN YESTERDAY? CBRE HOTELS The World s Leading Hotel Experts. WILL TOMORROW BE BETTER THAN YESTERDAY? HOTEL SECTOR UPDATE OCTOBER 31, 2017 THE AGENDA 1. U.S. Lodging Market The Macro-Economy and Hotels The Changing Traveler

More information

A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS

A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS KRY/WJS/EDL #222377 (PDF: #223479) 1/30/15 PRELIMINARY DRAFT Memorandum Report A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS EXECUTIVE SUMMARY This memorandum report provides a statistical

More information

Hotel Valuation and Transaction Trends For the U.S. Lodging Industry

Hotel Valuation and Transaction Trends For the U.S. Lodging Industry Hotel Valuation and Transaction Trends For the U.S. Lodging Industry Stephen Rushmore, CHA, MAI President and Founder HVS International 372 Willis Avenue Mineola, NY 11501 516-248-8828 ext. 204 srushmore@hvsinternational.com

More information

Aviation Insights No. 5

Aviation Insights No. 5 Aviation Insights Explaining the modern airline industry from an independent, objective perspective No. 5 November 16, 2017 Question: How has air travel in specific metropolitan areas changed in recent

More information

Hotel Valuation and Transaction Trends For the U.S. Lodging Industry

Hotel Valuation and Transaction Trends For the U.S. Lodging Industry Hotel Valuation and Transaction Trends For the U.S. Lodging Industry Steve Rushmore, MAI, FRICS, CHA President and Founder HVS 372 Willis Avenue Mineola, NY 11501 516-248-8828 ext. 204 srushmore@hvs.com

More information

Parking Property Advisors and Parkopedia present: TOP 40 US CITIES PARKING INDEX

Parking Property Advisors and Parkopedia present: TOP 40 US CITIES PARKING INDEX Parking Property Advisors and Parkopedia present: TOP 40 US CITIES PARKING INDEX 2018 Parking Property Advisors and Parkopedia proudly present this 2018 Top 40 US Cities Parking Index. Whether you are

More information

Real Estate Development Law Update h. February 15 th, Jeff Meyers Principal Meyers LLC (949) x200

Real Estate Development Law Update h. February 15 th, Jeff Meyers Principal Meyers LLC (949) x200 Allen Matkins Real Estate Development Law Update h February 15 th, 2012 Jeff Meyers Principal Meyers LLC (949) 640-0050 x200 JOB TRENDS Job Postings per Capita, 4Q11 Rank (Last Qtr Rank) Metropolitan Area

More information

National Housing Trends

National Housing Trends National Housing Trends America s Choice of Best Long Term Investment Gallup 2017 The Cost of RENTING vs. BUYING HISTORICALLY: NOW: Percentage of Income Needed to Afford Median Rent 25.8% 29.2% Percentage

More information

REGIONALLY FOCUSED. GLOBALLY COMPETITIVE.

REGIONALLY FOCUSED. GLOBALLY COMPETITIVE. ABOUT EDC WHO WE ARE Mission: San Diego Regional Economic Development Corporation s mission is to maximize the region s economic prosperity and global competitiveness. Vision: The San Diego Region will

More information

Rank Place State Native Hawaiian and Pacific Islander population (alone or in combination

Rank Place State Native Hawaiian and Pacific Islander population (alone or in combination TABLE 2a: 100 Largest Places Ranked by Number of s (race alone or in *) Living in Hard-to- Census Rank Place State (alone or in 1 Honolulu (CDP) HI 64,196 11,130 17.3 2 New York City NY 14,981 8,211 54.8

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q3 2017 U.S. OFFICE Employment Indicators Net Absorption/Rent 4-QTR TRAILING AVERAGE Q3 16 Q3 17 Total Nonfarm Employment 144.7M 146.6M Office-using Employment 31.3M 31.9M Unemployment

More information

Park-Related Total* Expenditure per Resident, by City

Park-Related Total* Expenditure per Resident, by City Park-Related Total* per Resident, by City FY 2008 City Population Total Park per Resident Washington, D.C. 591,833 $153,324,830 $259 Seattle 598,541 $150,672,543 $252 Scottsdale 235,371 $50,429,049 $214

More information

The Housing Market and the Macroeconomy

The Housing Market and the Macroeconomy The Housing Market and the Macroeconomy New England Mortgage Bankers Association October 2, 2009 1 The World is in a Deep Recession In the U.S. EMPLOYMENT: Job losses in August, 2009: -216,000 Job losses

More information

High-Speed Rail: Realizing the Potential of Megaregion Economies

High-Speed Rail: Realizing the Potential of Megaregion Economies High-Speed Rail: Realizing the Potential of Megaregion Economies Petra Todorovich Director, America 2050 Regional Plan Association May 4, 2010 Rayburn House Office Building 1 2 1 Where High-Speed Rail

More information

RANKING OF THE 100 MOST POPULOUS U.S. CITIES 12/7/ /31/2016

RANKING OF THE 100 MOST POPULOUS U.S. CITIES 12/7/ /31/2016 OVERVIEW OF THE DATA The following information is based on incoming communication to the National Human Trafficking Hotline via phone, email, and online tip report from December 7, 2007 December 31, 2016

More information

Fort Lauderdale August 8, 2017

Fort Lauderdale August 8, 2017 Fort Lauderdale August 8, 2017 8/10/2017 TAP Software Analytics Division Brian Finucane TAP Reports Jeff Eastman TAP Hotel Reports Jeanne Eastman TAP Data Source Jeff Eastman Cloud Database Numerous Data

More information

Regional Outlook STEVEN G. COCHRANE, MANAGING DIRECTOR

Regional Outlook STEVEN G. COCHRANE, MANAGING DIRECTOR Regional Outlook STEVEN G. COCHRANE, MANAGING DIRECTOR Differences Narrow; Southeast Vies for Lead Employment, % change yr ago 3.5 3.0 Southwest 2.5 2.0 1.5 East South Central South Atlantic Northeast

More information

ATLANTA HOUSING MARKET Fourth Quarter 2017 Presentation for HBA Builder Developer Lender Council. Expanded. Unemployment Rate (U 6) Official

ATLANTA HOUSING MARKET Fourth Quarter 2017 Presentation for HBA Builder Developer Lender Council. Expanded. Unemployment Rate (U 6) Official Eugene James Senior Regional Director 404-510-1080 ejames@metrostudy.com connect on LinkedIn Mike Overley Business Development Director 770-380-0827 moverley@metrostudy.com To volunteer call 404 408 0716

More information

Higher Education in America s Metropolitan Areas A Statistical Profile

Higher Education in America s Metropolitan Areas A Statistical Profile Higher Education in America s Metropolitan Areas A Statistical Profile MSA Study No.2 Higher Education in America s Metropolitan Areas A Statistical Profile CONTENTS Why Metro Areas? 1 Executive Summary

More information

Raleigh-Durham 6.8% 209, , % Market Overview. Market Facts. Third Quarter 2018 / Retail Market Report

Raleigh-Durham 6.8% 209, , % Market Overview. Market Facts. Third Quarter 2018 / Retail Market Report Market Report Raleigh-Durham Market Facts Market Overview 6.8% Total market vacancy flat year-over-year 209,683 SF absorbed year-to-date 767,581 SF under construction 3.4% Triangle unemployment in August

More information

MARKETBEAT U.S. Shopping Center Q4 2018

MARKETBEAT U.S. Shopping Center Q4 2018 MARKETBEAT U.S. Shopping Center Q4 2018 U.S. SHOPPING CENTER Economic Indicators Market Indicators Rent Rate vs. Overall Vacancy Availability by Type Q4 17 Q4 18 Vacancy Rates 6.7% 6.3% Net Absorption

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q3 2018 U.S. OFFICE Employment Indicators Market Indicators (Overall) Office: Net Absorption/Asking Rent 4Q TRAILING AVERAGE Office: Overall Vacancy Q3 17 Q3 18 Total Nonfarm Employment

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q4 2018 U.S. OFFICE Employment Indicators Market Indicators (Overall) Office: Net Absorption/Asking Rent 4Q TRAILING AVERAGE Office: Overall Vacancy Q4 17 Q4 18 Total Nonfarm Employment

More information

U.S. Office Snapshot Q1 2016

U.S. Office Snapshot Q1 2016 MARKETBEAT U.S. Office Snapshot Q1 2016 U.S. OFFICE Employment Indicators Q1 15 Q1 16 Total Nonfarm Employment 140.8M 143.5M Offi ce-using Employment 30.2M 31.0M Unemployment 5.6% 4.9% Source: BLS Market

More information

Appendix D: Aggregation Error for New England Metro Areas and for Places

Appendix D: Aggregation Error for New England Metro Areas and for Places Appendix D: for New England Metro Areas and for Places D-1 Appendix D: s Figure D-1: New England Metro Areas - Summary of Tract s (2000) Metro ID (msapma99) Metro Area Name Census NCDB 1120 Boston, MA-NH

More information

San Francisco Travel Association Selling in a Seller s Market DMO Perspective. May 21, 2014

San Francisco Travel Association Selling in a Seller s Market DMO Perspective. May 21, 2014 San Francisco Travel Association Selling in a Seller s Market DMO Perspective May 21, 2014 Agenda Discussion Themes 1. Meetings Are Important 2. Market Meetings Pace 3. Occupancy & Rate 4. Booking Windows

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q4 2017 U.S. OFFICE Employment Indicators Q4 16 Q4 17 Total Nonfarm Employment 145.2M 147.2M Office-using Employment 31.5M 32.1M Unemployment 4.7% 4.1% Source: BLS Market Indicators

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q1 2017 U.S. OFFICE Employment Indicators Q1 16 Q1 17 Total Nonfarm Employment 143.4M 145.7M Offi ce-using Employment 30.9M 31.7M Unemployment 4.9% 4.6% Source: BLS Market Indicators

More information

MARKETBEAT U.S. Industrial Snapshot Q4 2015

MARKETBEAT U.S. Industrial Snapshot Q4 2015 MARKETBEAT U.S. Industrial Snapshot Q4 2015 U.S. INDUSTRIAL Employment Indicators Q4 14 Q4 15 Total Nonfarm Employment 140.2M 143.0M Industrial Employment 23.4M 23.6M Unemployment 5.7% 5.0% Market Indicators

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q2 2017 U.S. OFFICE Employment Indicators Q2 16 Q2 17 Total Nonfarm Employment 143.9M 146.2M Office-using Employment 30.1M 31.8M Unemployment 4.9% 4.4% Source: BLS Market Indicators

More information

PUBLIC TRANSPORTATION INTRODUCTION

PUBLIC TRANSPORTATION INTRODUCTION PUBLIC TRANSPORTATION INTRODUCTION 1 OUTLINE Current Status and Recent Trends Significant Influences A Critical Assessment Arguments Supporting Public Transport Future Influences Ingredients for Future

More information

Census Affects Children in Poverty by Professors Donald Hernandez and Nancy Denton State University of New York, Albany

Census Affects Children in Poverty by Professors Donald Hernandez and Nancy Denton State University of New York, Albany Phone: (301) 457-9900 4700 Silver Hill Road, Suite 1250-3, Suitland, MD 20746 Fax: (301) 457-9901 Census Affects in Poverty by Professors Donald Hernandez and Nancy Denton State University of New York,

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q2 2017 U.S. INDUSTRIAL Employment Indicators Q2 16 Q2 17 Total Nonfarm Employment 143.9M 146.2M Industrial Employment 25.2M 25.6M Unemployment 4.9% 4.4% Source: BLS Market Indicators

More information

A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS

A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS KRY/WJS/EDL #222377 v4 (PDF: #223479v2) 4/1/15 APPENDIX D REVISED DRAFT Memorandum Report A COMPARISON OF THE MILWAUKEE METROPOLITAN AREA TO ITS PEERS EXECUTIVE SUMMARY This report provides a statistical

More information

Social Media In Your New & Improved Phoenix Sky Harbor

Social Media In Your New & Improved Phoenix Sky Harbor Social Media In Your New & Improved Phoenix Sky Harbor AZ Chapter of HSMAI September 19, 2013 It always begins & ends with: skyharbor.com Began Facebook page in October 2010 More than 27,000 people Like

More information

HOSPITALITY REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS

HOSPITALITY REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS HOSPITALITY REPORT VIEWPOINT 2017 / COMMERCIAL REAL ESTATE TRENDS By: Jeff A. Greenwald, MAI, SRA, AI-GRS, ASA, FRICS, Senior Managing Director/Principal, IRR - San Diego Hotel markets brace for change

More information

MARKETBEAT U.S. Office

MARKETBEAT U.S. Office MARKETBEAT U.S. Office Q4 2016 U.S. OFFICE Employment Indicators Market Indicators (Overall) Q4 15 Q4 16 Vacancy Rate 13.5% 13.2% Net Absorption 20.5M 6.9M Under Construction 94.5M 100.2M Weighted Asking

More information

1Q 2014 Greater Atlanta HBA Builder Developer Lender Council meeting Information presented by. Atlanta Job Growth

1Q 2014 Greater Atlanta HBA Builder Developer Lender Council meeting Information presented by. Atlanta Job Growth 1Q 2014 Greater Atlanta HBA Builder Developer Lender Council meeting 5-21-2014 Information presented by Eugene James, Regional Director ejames@metrostudy.com 404-510-1080 connect on LinkedIn Atlanta Job

More information

TOP 100. Transit Bus Fleets Agency 35 ft. Over Artic and 35 ft. Total +/- under 0 3, ,426 82

TOP 100. Transit Bus Fleets Agency 35 ft. Over Artic and 35 ft. Total +/- under 0 3, ,426 82 L.A. Metro-No. 3 1 1 MTA New York City Transit New York City 2 2 New Jersey Transit Corp. Newark, N.J. 3 3 Metro Los Angeles 4 5 Toronto Transit Commission Toronto 5 10 Chicago Transit Authority Chicago

More information

Major Metropolitan Area Sales Tax Rates

Major Metropolitan Area Sales Tax Rates August 19, 2010 No. 239 FISCAL FACT Major Metropolitan Area Sales Tax Rates By Lawrence Summers Introduction General sales taxes levied by state, county and city governments in the United States vary greatly,

More information

TOP 100 Bus Fleets Agency 35 ft. and Over Artic under 35 ft. Total. 18 < metro magazine SEPTEMBER/OCTOBER 2018 metro-magazine.

TOP 100 Bus Fleets Agency 35 ft. and Over Artic under 35 ft. Total. 18 < metro magazine SEPTEMBER/OCTOBER 2018 metro-magazine. 1 1 MTA New York City Transit/MTA Bus Co. 0 4,860 951 5,811 New York City 2 3 New Jersey Transit Corp. 418 2,879 85 3,382 Newark, N.J. 3 2 Los Angeles County Metropolitan Transportation Authority 50 1,882

More information

Good Times Continue to Roll - But Supply Threat Looms

Good Times Continue to Roll - But Supply Threat Looms United States Research Report INDUSTRIAL OUTLOOK Q3 2015 Good Times Continue to Roll - But Supply Threat Looms Pete Culliney Director of Research Global Thomas Galvin Regional Research Analyst Research

More information

Agency 35 ft. Over Artic. Trolley 2012 Total and 35 ft. under. 1 1 MTA New York City Transit 0 3, ,344 New York City

Agency 35 ft. Over Artic. Trolley 2012 Total and 35 ft. under. 1 1 MTA New York City Transit 0 3, ,344 New York City Capital Metro-No. 40 Courtesy Capital Metro 1 1 MTA New York City Transit 0 3,704 640 0 4,344 New York City 2 3 New Jersey Transit Corp. 47 2,263 85 0 2,395 Newark, N.J. 3 2 Metro 50 1,956 378 0 2,384

More information

Snakes & Lattes is currently composed of three corporate owned and operated board game cafes in Toronto, ON. Over the last 7 years these have become renowned as Toronto's premiere board game cafe destinations.

More information

Access Across America: Transit 2014

Access Across America: Transit 2014 Access Across America: Transit 2014 Final Report CTS 14-11 Prepared by: Andrew Owen David Levinson Accessibility Observatory Department of Civil, Environmental, and Geo- Engineering University of Minnesota

More information

BLACK KNIGHT HPI REPORT

BLACK KNIGHT HPI REPORT CONTENTS 1 OVERVIEW 2 NATIONAL OVERVIEW 3 LARGEST STATES AND METROS 4 FEBRUARY S BIGGEST MOVERS 5 20 LARGEST STATES 6 40 LARGEST METROS 7 ADDITIONAL INFORMATION OVERVIEW Each month, the Data & Analytics

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q3 2018 U.S. INDUSTRIAL Employment Indicators Q3 17 Q3 18 Total Nonfarm Employment 146.9M 149.3M Industrial Employment 31.5M 32.3M Unemployment 4.4% 3.9% Source: BLS Market Indicators

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q4 2017 U.S. INDUSTRIAL Employment Indicators Q4 16 Q4 17 Total Nonfarm Employment 145.2M 147.2M Industrial Employment 25.4M 25.9M Unemployment 4.7% 4.1% Source: BLS Market Indicators

More information

Passengers Boarded At The Top 50 U. S. Airports ( Updated April 2

Passengers Boarded At The Top 50 U. S. Airports ( Updated April 2 (Ranked By Passenger Enplanements in 2006) Airport Table 1-41: Passengers Boarded at the Top 50 U.S. Airportsa Atlanta, GA (Hartsfield-Jackson Atlanta International) Chicago, IL (Chicago O'Hare International)

More information

OB-GYN Workload & Potential Shortages: The Coming U.S. Women s Health Crisis

OB-GYN Workload & Potential Shortages: The Coming U.S. Women s Health Crisis OB-GYN Workload & Potential Shortages: The Coming U.S. Women s Health Crisis JULY 2017 Introduction Obstetricians and Gynecologists (OB-GYNs) are a critical part of the health care provider community.

More information

Hector International Airport Fargo, North Dakota

Hector International Airport Fargo, North Dakota Hector International Airport Fargo, North Dakota Volume 073 Twelve Months Ended September 2007 January 2008 Airlines Serving Fargo Carried 831 Onboard Passengers Per Day for the Twelve Months Ended September

More information

Hector International Airport Fargo, North Dakota

Hector International Airport Fargo, North Dakota Hector International Airport Fargo, North Dakota Volume 072 Twelve Months Ended June 2007 November 2007 Airlines Serving Fargo Carried 830 Onboard Passengers Per Day for the Twelve Months Ended June 2007,

More information

A CORPORATE OR MEDICAL USER OPPORTUNITY WELL-LOCATED OFF THE PA TURNPIKE AM Drive. Quakertown, PA INVESTMENT SUMMARY. Page 1

A CORPORATE OR MEDICAL USER OPPORTUNITY WELL-LOCATED OFF THE PA TURNPIKE AM Drive. Quakertown, PA INVESTMENT SUMMARY. Page 1 A CORPORATE OR MEDICAL USER OPPORTUNITY WELL-LOCATED OFF THE PA TURNPIKE 1900 AM Drive Quakertown, PA INVESTMENT SUMMARY Page 1 EXECUTIVE SUMMARY On behalf of ownership, Avison Young is pleased to offer

More information

Communicating the Importance of Seaports. Bringin It Home. Presented to AAPA Annual Convention Galveston, TX October 27, 2009

Communicating the Importance of Seaports. Bringin It Home. Presented to AAPA Annual Convention Galveston, TX October 27, 2009 Communicating the Importance of Seaports Bringin It Home Presented to AAPA Annual Convention Galveston, TX October 27, 2009 Jim Kruse Director, Center for Ports & Waterways Texas Transportation Institute

More information

World Class Airport For A World Class City

World Class Airport For A World Class City World Class Airport For A World Class City Air Service Update April 2018 2018 Air Service Updates February 2018 Seattle new departure, seasonal, 2x weekly Boston new departure, seasonal, 2x weekly March

More information

Demand Continues to Outpace Supply Leading to Record Low Vacancies

Demand Continues to Outpace Supply Leading to Record Low Vacancies U.S. Research Report INDUSTRIAL MARKET OUTLOOK Q3 2017 Demand Continues to Outpace Supply Leading to Record Low Vacancies James Breeze, National Director of Industrial Research USA Featured Highlights

More information

Metropolitan Votes and the 2012 U.S. Election: Population, GDP, Patents and Creative Class

Metropolitan Votes and the 2012 U.S. Election: Population, GDP, Patents and Creative Class politan Votes and the 2012 U.S. Election: Population, GDP, Patents and Creative Class Author: Shawn Gilligan, Shawn.Gilligan@rotman.utoronto.ca Zara Matheson, Zara.Matheson@rotman.utoronto.ca Kevin Stolarick,

More information

Strategic Central Florida Location Big Bend Road & U.S. Highway 41

Strategic Central Florida Location Big Bend Road & U.S. Highway 41 Strategic Central Florida Location Big Bend Road & U.S. Highway 41 Park Highlights 337,447 SF (Building 13124) under construction June 2017 occupancy Cross-Dock 101 Trailer Spaces 1.5 miles from I-75 8

More information

Millennials and the City Wherein Metro Areas In Larger Central Cities Outperformed the Suburbs (2010/15) What Happened in 2016?

Millennials and the City Wherein Metro Areas In Larger Central Cities Outperformed the Suburbs (2010/15) What Happened in 2016? Millennials and the City Wherein Metro Areas In Larger Central Cities Outperformed the Suburbs (2010/15) What Happened in 2016? Robert W. Burchell, Ph.D., Emeritus Prior Director, Center for Urban Policy

More information

World Class Airport For A World Class City

World Class Airport For A World Class City World Class Airport For A World Class City Air Service Update October 2017 2017 Air Service Updates February 2017 Cleveland new destination, 2x weekly Raleigh-Durham new destination, 2x weekly March 2017

More information

Westshore Development Forum April 11, Hillsborough County Aviation Authority

Westshore Development Forum April 11, Hillsborough County Aviation Authority Westshore Development Forum April 11, 2017 Aviation in Florida Only state with four large hub airports $144 billion in annual economic activity or output Approximately 43.1 million visitors come to Florida

More information

U.S. Regional Outlook

U.S. Regional Outlook U.S. Regional Outlook Presented by: Mark McMullen Director of Government Consulting FTA Revenue Estimating Conference September 18, 26 Widespread Pattern of Economic Expansion Based on employment and industrial

More information

Office Markets Beginning to Show Signs of Bottoming Out

Office Markets Beginning to Show Signs of Bottoming Out OFFiCE north america HIGHLIGHTS Office Markets Beginning to Show Signs of Bottoming Out MarKet indicators Relative to prior period VaCanCY net absorption ConstrUCtion Q2 Q3 * ross J. Moore Chief Economist

More information

METROPOLITAN STATISTICAL AREA

METROPOLITAN STATISTICAL AREA Miami-Fort Lauderdale-West Palm Beach METROPOLITAN STATISTICAL AREA Broward County is part of the 8th largest metropolitan statistical area (MSA)() in the country with a population just over 6M in 2016.

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q3 2016 U.S. INDUSTRIAL Employment Indicators Market Indicators Net Absorption/Rent NNN 4-QTR TRAILING AVERAGE Overall Vacancy Q3 15 Q3 16 Total Nonfarm Employment 142.2M 144.6M

More information

United States Office 2Q 2016

United States Office 2Q 2016 MARKETBEAT United States Office 2Q 2016 U.S. OFFICE Employment Indicators Market Indicators Net Absorption/Rent 4Q TRAILING AVERAGE Overall Vacancy 2Q 15 2Q 16 Total Nonfarm Employment 141.5M 143.9M Offi

More information

In Slow(ing) Motion NORTH AMERICA HIGHLIGHTS Q OFFICE. K.C. CONWAY, MAI, CRE EMD Market Analytics. The Bottom Line

In Slow(ing) Motion NORTH AMERICA HIGHLIGHTS Q OFFICE. K.C. CONWAY, MAI, CRE EMD Market Analytics. The Bottom Line OFFICE NORTH AMERICA HIGHLIGHTS In Slow(ing) Motion K.C. CONWAY, MAI, CRE EMD Market Analytics The Bottom Line INDICATORS ICEE (Intellectual Capital, Energy and Education) markets continue to generate

More information

Impact of Hurricane Irma on US Metropolitan Areas

Impact of Hurricane Irma on US Metropolitan Areas Impact of Hurricane Irma on US Metropolitan Areas Puerto Ricans in mainland Prepared for: Jorge Restrepo, CEO 2017 EurekaFacts LLC September 29, 2017 Climate refugees from Puerto Rico in US metropolitan

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q4 2018 U.S. INDUSTRIAL Employment Indicators Market Indicators Net Absorption/Rent NNN 4-QTR TRAILING AVERAGE Overall Vacancy Q4 17 Q4 18 Total Nonfarm Employment 147.4M 149.9M

More information

The Returns to Single Family Rental Strategies

The Returns to Single Family Rental Strategies The Returns to Single Family Rental Strategies Andrew Demers and Andrea L. Eisfeldt January 2014 Homeownership Rates 70.0% 65.0% 60.0% Home Ownership Rate 55.0% 50.0% 45.0% 40.0% 1890 1895 1900 1905 1910

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q1 2017 U.S. INDUSTRIAL Employment Indicators Q1 16 Q1 17 Total Nonfarm Employment 143.4M 145.7M Industrial Employment 25.3M 25.6M Unemployment 4.9% 4.6% 12-Month Forecast Economy

More information

3 Aviation Demand Forecast

3 Aviation Demand Forecast 3 Aviation Demand 17 s of aviation demand were prepared in support of the Master Plan for Harrisburg International Airport (the Airport or HIA), including forecasts of enplaned passengers, air cargo, based

More information

Population Estimates for U.S. Cities Report 1: Fastest Growing Cities Based on Numeric Increase,

Population Estimates for U.S. Cities Report 1: Fastest Growing Cities Based on Numeric Increase, ulation s for U.S. Cities Report 1: Fastest Growing Cities Based on Numeric Increase, 2015-2015 1 Phoenix AZ 32,113 2.0 1,582,904 1,615,017 167,393 11.6 2 Los Angeles CA 27,173 0.7 3,949,149 3,976,322

More information

2012 Airfares CA Out-of-State City Pairs -

2012 Airfares CA Out-of-State City Pairs - 2012 Airfares Out-of-State City Pairs - Contracted rates are from July 1, 2012 through June 30, 2013. Please note all fares are designated as () and ( ) in airline computer reservation systems. fares are

More information

ustravel.org/travelpromotion

ustravel.org/travelpromotion Agenda 1. Power of Travel Promotion Resources 2. New Tool: Travel Economic Impact Calculator 3. Accessing data through Interactive Travel Analytics 4. Unused Vacation Time Opportunity 5. Highlights from

More information

Hector International Airport Fargo, North Dakota

Hector International Airport Fargo, North Dakota Hector International Airport Fargo, North Dakota Volume 081 Twelve Months Ended March 2008 July 2008 Airlines Serving Fargo Carried 838 Onboard Passengers Per Day for the Twelve Months Ended March 2008,

More information

MARKETBEAT U.S. Industrial

MARKETBEAT U.S. Industrial MARKETBEAT U.S. Industrial Q2 2018 U.S. INDUSTRIAL Employment Indicators Q2 17 Q2 18 Total Nonfarm Employment 146.3M 148.7M Industrial Employment 31.6M 32.5M Unemployment 4.3% 3.9% Source: BLS Market Indicators

More information

United States Industrial 2Q 2016

United States Industrial 2Q 2016 MARKETBEAT United States Industrial 2Q 2016 U.S. INDUSTRIAL Employment Indicators 2Q 15 2Q 16 Total Nonfarm Employment 141.5M 143.9M Industrial Employment 24.8M 25.2M Unemployment 5.4% 4.9% Source: BLS

More information

Major US City Preparedness For an Oil Crisis Which Cities and Metro Areas are Best Prepared for $4 a Gallon Gas and Beyond?

Major US City Preparedness For an Oil Crisis Which Cities and Metro Areas are Best Prepared for $4 a Gallon Gas and Beyond? Major US City Preparedness For an Oil Crisis Which Cities and Metro Areas are Best Prepared for $4 a Gallon Gas and Beyond? March 4, 2008 By Warren Karlenzig President Common Current www.commoncurrent.com

More information

FILED: NEW YORK COUNTY CLERK 10/14/ :25 PM INDEX NO / /4/2016 Office locations in US states: PwC

FILED: NEW YORK COUNTY CLERK 10/14/ :25 PM INDEX NO / /4/2016 Office locations in US states: PwC FILED: NEW YORK COUNTY CLERK 10/14/2016 02:25 PM INDEX NO. 451962/2016 10/4/2016 Office locations in US states: PwC NYSCEF DOC. NO. 9 RECEIVED NYSCEF: 10/14/2016 PwC office locations in (by state) Below

More information

World Class Airport For A World Class City

World Class Airport For A World Class City World Class Airport For A World Class City Air Service Update April 2017 2017 Air Service Updates February 2017 Cleveland new destination, 2x weekly Raleigh-Durham new destination, 2x weekly March 2017

More information

Houston Economic Update. Presented by Patrick Jankowski Vice President, Research Greater Houston Partnership

Houston Economic Update. Presented by Patrick Jankowski Vice President, Research Greater Houston Partnership Houston Economic Update Presented by Patrick Jankowski Vice President, Research Greater Houston Partnership Houston Astros - Percent Regular Season Games Won Help from the bullpen this year Help from the

More information