Industrial Market Report

Size: px

Start display at page:

Download "Industrial Market Report"

Primrose Parker
6 years ago
Views:

1 CLIENT FOCUSED. RESULTS DRIVEN.

2 Lubbock Industrial Map Statistics The Lubbock industrial market continues to expand Southwest with the majority of new construction being in this sector followed by the Southeast region. The highest rents are found in the Southwest regions new construction along the I27/HWY 87 corridor. Lubbock Growth Forecast Through 2020 Real GDP 3.77% Real Personal Income 4.79% Real Retail Sales 4.84% Housing Permits (0.95%) Employment 1.97% West Southwest North South Inner Loop Southeast Northeast SNAPSHOT Total Employment 2 148,980 POPULATION 3 309,923 INDUSTRIAL EMPLOYMENT 30.4% TOTAL INDUSTRIAL S.F. 32,700,000 sf % GROWTH (Average Annual Growth) TOTAL EMPLOYMENT 2 3.3% POPULATION 3 2.7% 2 CAP RATE 5 CLASS A ASSET 8.0% - 9.0% CLASS B ASSET 8.5% - 9.5% CLASS C ASSET 9.5% % INDUSTRIAL USE 2 EMPLOYMENT CONSTRUCTION & MINING 6,600 (+3.1%) MANUFACTURING 5,080 (+2.0%) TRADE, TRANSPORT & UTILITY 31,100 (+1.0%) Source: Perryman Group Rent Growth RANGE % AVERAGE 2.7% Expense Growth RANGE % AVERAGE 2.8% Source: 5 - Real Estate Research Corporation, HEATH Property Advisors 5 5 Map Table - Rents (Modified Gross) WEST $6-10 per s.f. NORTH $3-8 per s.f. SOUTHWEST $6-9 per s.f. Off/WH $ per s.f. Storage 1 NORTHEAST $ per s.f. SOUTH INNER $ per s.f. SOUTHEAST OUTER $7-12 per s.f. Off/WH $ per s.f. Storage 1 Modified Gross - Landlord pays for real estate taxes, insurance and maintenance while tenant pays for utilites and janitorail. Sources: 2 - Bureau of Labor Statistics 3 - US Census Bureau 4 - WestMark Commercial Research 5 - Real Estate Research Corporation, HEATH Property Advisors 6 - Texas Comptroller

Industrial User Employment Base Industrial Wages by Industry State Employment Growth 2 1 - AUSTIN 4.7% 2 - DALLAS 4.5% 3 - LUBBOCK 3.3% 4 - EL PASO 3.2% 5 - SAN ANTONIO 2.9% 6 - AMARILLO 1.

3 Industrial User Employment Base Industrial Wages by Industry State Employment Growth AUSTIN 4.7% 2 - DALLAS 4.5% 3 - LUBBOCK 3.3% 4 - EL PASO 3.2% 5 - SAN ANTONIO 2.9% 6 - AMARILLO 1.6% 7 - ABILENE 1.0% 8 - FORT WORTH 0.9% 9 - SAN ANGELO 0.8% 10 - HOUSTON 0.6% 11 - WICHITA FALLS 0.3% 12 - MIDLAND - 6.2% 13 - ODESSA - 8.3% Government Other Services Leisure and Hospitality Education & Health Services Professional & Business Services Finacial Services Information Trade, Transp. & Utilities Manufacturing Construction & Mining 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Bureau of Labor Statistics Lubbock Metropolitan Population 320, , , , , , , , , , , Source: U.S. Census Bureau Trade, Transportation & Utilities Manufacturing Construction & Mining Rent Range West North Southwest Northeast South Inner Southeast Outer $ $50 $100 $150 $200 $250 $300 Storage Storage Off/WH Off/WH Bureau of Labor Statistics Source: WestMark Commercial Research

Percent Change in Real GDP by Metro-Area Southwest Region Regional Populations Lubbock economic growth continues to outpace the rest of the state and region with Real GDP growth at top levels.

7 to 24.1 2.5 to 5.7 1.4 to 2.5 0.3 to 1.4-2.8 to 0.3 Nonmetropolitan areas St

4 Percent Change in Real GDP by Metro-Area Southwest Region Regional Populations Lubbock economic growth continues to outpace the rest of the state and region with Real GDP growth at top levels. Lubbock is the largest metropolitan area within West Texas and is the center of economic activity for a population of roughly 700,000. Wichita Falls United States = 2.3 Southwest = 4.3 Percent 5.7 to to to to to 0.3 Nonmetropolitan areas States outside region U.S. Bureau of Economic Analysis LUBBOCK - LEVELLAND Trade Area - 690,722 CSA - 336,134 MIDLAND - ODESSA Trade Area - 496,040 CSA - 327,171 Source: US Census Bureau ABILENE Trade Area - 334,921 CSA - 171,627 SAN ANGELO Trade Area - 160,427 CSA - 120,191 AMARILLO - BORGER Trade Area - 534,828 CSA - 287,572 WICHITA FALLS Trade Area - 287,114 CSA - 154,263 CSA - The combined statistical area of the U.S. Census Bureau consists of an adjacent metropolitan and a Micropolitan Stabilized Area (MSA) that demonstrate economic and social interaction and linkage.

5 CLIENT FOCUSED. RESULTS DRIVEN. WestMark Commercial provides investors and owners with local market knowledge, property-specific and tailored marketing plans to help them achieve thier investment goals. Main Office: th St. Lubbock, TX WestMark Commercial Price: $150 The information contained in this report was obtained from sources deemed to be reliable. Every effort was made to obtain accurate and complete information; however, no representation, warranty or guarantee, express or implied, may be made as to the accuracy or reliability of the information contained herein.

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