Browse research by market type

Market Research

Hotel Market Research/Reports

  1. Washington

    1. Seattle Hotel Market Report
      Fourth Quarter 2016

      With nearly 5,000 rooms under construction and many more planned, the current wave of hotel development in and near Seattle is about to crest. After several years of very strong performance, particularly in urban markets, we expect that the coming increase in supply will outpace growth in demand, reducing occupancy rates and intensifying price competition.

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      Fourth Quarter 2016 Seattle Hotel Market Report
      Second Quarter 2016 Seattle Hotel Market Report
      Fourth Quarter 2015 Seattle Hotel Market Report
      Second Quarter 2015 Seattle Hotel Market Report
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Industrial Market Research/Reports

  1. Washington

    1. Seattle Industrial Market Report
      Fourth Quarter 2016

      The industrial market ended 2016 with just over 6.8 million s.f. absorbed (including 1.4 million s.f. in the fourth quarter), the most since 2004. With nearly 3.5 million s.f. of deliveries in 2016, the vacancy ended the year at 3.36% compared to 4.62% 12 months ago. Since 2011, the region's industrial market has absorbed about 26 million s.f., an average of 4.3 million s.f. per year. Construction activity remains robust with nearly 4 million s.f. underway with 44% pre-leased. Another 14.3 million s.f. is in the pipeline that may or may not start over the next several years.

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      Fourth Quarter 2016 Seattle Industrial Market Report
      Third Quarter 2016 Seattle Industrial Market Report
      Second Quarter 2016 Seattle Industrial Market Report
      First Quarter 2016 Seattle Industrial Market Report
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  2. Oregon

    1. Portland Industrial Market Report
      Fourth Quarter 2016

      The Portland industrial real estate (excluding flex) market finished the year on a high note, with 950,674 square feet of positive net absorption bringing the yearly gain to 3,321,341 square feet. Overall vacancies fell to 3.5% at the end of the year despite 2,343,955 square feet of new deliveries. Leasing activity summed to 8,466,907 square feet over the course of 2016, while 153 Portland-area industrial assets changed hands in investment or owner/user sales, amassing $439.6 million in dollar volume. Sixteen buildings were under construction at the end of the year and will add more 2 million square feet of industrial space to the inventory upon delivery.

      Downloads
      Fourth Quarter 2016 Portland Industrial Market Report
      Third Quarter 2016 Portland Industrial Market Report
      Second Quarter 2016 Portland Industrial Market Report
      First Quarter 2016 Portland Industrial Market Report
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  3. California

    1. Inland Empire Industrial Market Report
      Fourth Quarter 2016

      The Inland Empire industrial market continued to improve in 2016, as pricing continued to increase. Vacancy remains at historically low levels, and the amount of available space has decreased by 21.59% in the past year. The lack of product available for lease and sale in some size ranges (particularly below 100,000 square feet) is driving prices upward and limiting transaction volume. Net occupancy remains positive, and with new inventory being added each quarter there is a possibility of upward pressure on vacancy but only in the short run.

      Downloads
      Fourth Quarter 2016 Inland Empire Industrial Market Report
      Third Quarter 2016 Inland Empire Industrial Market Report
      Second Quarter 2016 Inland Empire Industrial Market Report
      First Quarter 2016 Inland Empire Industrial Market Report
    2. Los Angeles Industrial Market Report
      Fourth Quarter 2016

      The Los Angeles industrial market continued to improve in 2016, as pricing continued to trend upward. Vacancy remains at historically low levels, and the amount of available space has decreased by 4.9% in the past year. The lack of product available for lease and sale in some size ranges (particularly below 100,000 square feet) is driving prices upward and limiting transaction volume. We expect moderate increases in leasing and sales activity in the coming year, as job creation stays strong. Moving into 2017, we anticipate further absorption gains and rising occupancy costs, and with few deliveries in the pipeline to apply upward pressure on vacancy, we foresee 2017 being another year of growth.

      Downloads
      Fourth Quarter 2016 Los Angeles Industrial Market Report
    3. Oakland/East Bay Industrial Market Report
      Fourth Quarter 2016

      A strong fourth quarter brought record-low vacancy rates to the East Bay industrial market, as demand continued to severely outstrip supply in the logistically superior region. This quarter's 736,330 square feet of positive net absorption brought the aggregate gain for the year to 2,375,152 square feet and shaved the vacancy rate to 3.2%. Many East Bay submarkets have experienced considerable declines in both vacancy and availability over the past 12 months, leading large-block users to ponder alternatives in Reno and Sacramento. Asking rents increased by 10.8% year over year, to a marketwide average of $0.64 for bulk distribution spaces, $0.68 for industrial product overall, and $1.43 for flex listings. While four developments were under construction at year's end, two of them were fully preleased, and vacancies are unlikely to budge from cycle lows until significantly more new product is built to accommodate the demand for distribution facilities in the I-880 Corridor.

      Downloads
      Fourth Quarter 2016 Oakland/East Bay Industrial Market Report
      Third Quarter 2016 Oakland/East Bay Industrial Market Report
      Second Quarter 2016 Oakland/East Bay Industrial Market Report
      First Quarter 2016 Oakland/East Bay Industrial Market Report
    4. Orange County Industrial Market Report
      Fourth Quarter 2016

      The Orange County industrial market continued to improve in 2016, as pricing continued to trend upward. Vacancy remains at historically low levels, and the amount of vacant space has decreased by over 16.7% in the past year. The lack of product available for lease and sale in some size ranges (particularly below 100,000 s.f.) is driving prices upward and limiting transaction volume. Moderate increases are expected in leasing and sales activity in the coming year, as job creation stays strong. Moving into 2017, further absorption gains and rising occupancy costs are anticipated, and with very few deliveries in the pipeline to apply upward pressure on vacancy, 2017 is foreseen to be another year of growth.

      Downloads
      Fourth Quarter 2016 Orange County Industrial Market Report
      Third Quarter 2016 Orange County Industrial Market Report
      Second Quarter 2016 Orange County Industrial Market Report
      First Quarter 2016 Orange County Industrial Market Report
    5. Peninsula/San Mateo County Industrial Market Report
      Fourth Quarter 2016

      The Peninsula industrial market's vacancy rate kept falling to unprecedented levels following 39,932 s.f. of positive net absorption during the fourth quarter. The steady quarter brought the year's absorption gains to 775,115 s.f., which dropped the county's vacancy rate by 150 basis points year-over-year to a record low of 2%. Despite limited availabilities and increasing rental rates, tenant demand remains strong, with a particular emphasis on the north county region for logistics and distribution purposes.

      Downloads
      Fourth Quarter 2016 Peninsula/San Mateo County Industrial Market Report
      Third Quarter 2016 Peninsula/San Mateo County Industrial Market Report
      Second Quarter 2016 Peninsula/San Mateo County Industrial Market Report
      First Quarter 2016 Peninsula/San Mateo County Industrial Market Report
    6. Sacramento Industrial Market Report
      Fourth Quarter 2016

      The Sacramento industrial and flex real estate market continued to tighten in the fourth quarter of 2016, as 388,713 s.f. of positive net absorption gave the area its 18th straight quarterly gain. Direct-lease vacancies in industrial buildings slipped below 7% for the first time this cycle and declined to 6.5% when controlling for functionally obsolete product in outlying areas. Leasing activity was dominated by smaller users leasing less than 50,000 s.f., amounting to 189 transactions covering 1,374,415 s.f. market wide.

      Downloads
      Fourth Quarter 2016 Sacramento Industrial Market Report
      Third Quarter 2016 Sacramento Industrial Market Report
      Second Quarter 2016 Sacramento Industrial Market Report
      First Quarter 2016 Sacramento Industrial Market Report
    7. San Diego Industrial Market Report
      Fourth Quarter 2016

      The San Diego County industrial real estate market ended the year with strong absorption and steady rental rates, increasing competition for space and setting the stage for next year. Countywide total vacancy fell this year by 50 basis points, to 5.3%, as a result of strong leasing activity. The market continues to tighten, with 506,000 square feet of positive net absorption in the fourth quarter. The San Diego County unemployment rate sits at 4.8%, a decrease of 30 basis points from a year ago, and we expect the strong local economy and increasing job growth to drive the real estate market in 2017.

      Downloads
      Fourth Quarter 2016 San Diego Industrial Market Report
      Third Quarter 2016 San Diego Industrial Market Report
      Second Quarter 2016 San Diego Industrial Market Report
      Fourth Quarter 2015 San Diego Industrial Market Report
    8. San Francisco Industrial Market Report
      Fourth Quarter 2016

      The San Francisco industrial market relaxed slightly in the fourth quarter of 2016, as 57,931 square feet of negative net absorption increased the vacancy rate to 3.6%. Nonetheless, asking rental rates rose to an average of $17.92 per square foot, triple-net, amid limited availabilities and a growing trend of creative reuse of industrial spaces. A slowdown in land-value sales has stabilized the city's industrial stock for now, and most landlords marketing recently vacated spaces quickly secured replacement tenants, suggesting a return to positive absorption in the early quarters of the new year. Still, the region's largest traditional industrial leases are being consummated in San Mateo County and the East Bay, where available space and expansive facilities are in much greater supply. In early 2016, the San Francisco Planning Department began to engage in stricter enforcement of its Production, Distribution, and Repair (PDR) zoning, aiming to reinvigorate the manufacturing sector of the city's economy and prevent further conversion or demolition of the city's industrial buildings.

      Downloads
      Fourth Quarter 2016 San Francisco Industrial Market Report
      Third Quarter 2016 San Francisco Industrial Market Report
      Second Quarter 2016 San Francisco Industrial Market Report
      First Quarter 2016 San Francisco Industrial Market Report
    9. Silicon Valley Industrial Market Report
      Fourth Quarter 2016

      The Silicon Valley industrial and warehouse market tightened in the fourth quarter, but looks to continue steady growth in the near future. The markets reported a combined 543,027 square feet of net absorption. The year closed out with a combined 1,132,657 square feet of net absorption. Average blended industrial and warehouse asking rental rates market-wide remained steady at $1.14 per square foot per month on a triple-net basis, which is up from $1.02 at the end of last year. Industrial vacancies also remained relatively unchanged at 4.91%; a modest increase from 2015 Q4's 4.86%.

      Downloads
      Fourth Quarter 2016 Silicon Valley Industrial Market Report
      Third Quarter 2016 Silicon Valley Industrial Market Report
      Second Quarter 2016 Silicon Valley Industrial Market Report
      First Quarter 2016 Silicon Valley Industrial Market Report
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  4. Arizona

    1. Phoenix Industrial Market Report
      Fourth Quarter 2016

      The Phoenix industrial real estate market ended the year with over two million square feet of absorption, decreasing vacancy and steady rental rates. The market-wide total vacancy rate decreased to 10.0%, a result of the considerable leasing activity in the fourth quarter. The market will continue to tighten with growing demand and we expect increased competition for space and higher rates to continue into 2017. The Phoenix unemployment rate sits at 4.5%, a 60 basis point decrease from the 5.1% recorded this time last year.

      Downloads
      Fourth Quarter 2016 Phoenix Industrial Market Report
      Third Quarter 2016 Phoenix Industrial Market Report
      Second Quarter 2016 Phoenix Industrial Market Report
      First Quarter 2016 Phoenix Industrial Market Report
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  5. Nevada

    1. Reno Industrial Market Report
      Fourth Quarter 2016

      2016 was a year like no other. The Reno industrial real estate market turned in an outstanding fourth quarter, as a rush of national investors paired with the "Tesla Effect" yielded an excellent end to a record-breaking year. Net absorption in the fourth quarter was positive 1,420,333 square feet, bringing the yearly gain to a record 6,322,759 square feet. At least four of this quarter's transactions, totaling nearly 1 million square feet, were driven by the growing Tesla Gigafactory, including the arrival of Tesla's battery partner, Panasonic. Asking rents stayed at a bulk-rate average of $0.35 per square foot, but varied from $0.30 for vast distribution spaces to $0.65 for smaller offerings in South Reno.

      Downloads
      Fourth Quarter 2016 Reno Industrial Market Report
      Third Quarter 2016 Reno Industrial Market Report
      Second Quarter 2016 Reno Industrial Market Report
      First Quarter 2016 Reno Industrial Market Report
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Life Science Market Research/Reports

  1. California

    1. San Francisco Life Science Market Report
      Fourth Quarter 2016

      The Bay Area life science market closed the year with a moderately positive fourth quarter, finishing the year with 1,471,569 square feet of positive net absorption. Gross absorption was a strong 830,505 s.f. during the fourth quarter, but new availabilities and expanding tenants vacating their former spaces kept the net gain in occupied life science space to a somewhat modest 126,263 s.f. Despite a reasonably positive quarter, the Bay Area's overall vacancy rate increased slightly, by 41 basis points, to 3.82%, as a result of new supply coming on line.

      Downloads
      Fourth Quarter 2016 San Francisco Life Science Market Report
      Third Quarter 2016 San Francisco Life Science Market Report
      Second Quarter 2016 San Francisco Life Science Market Report
      First Quarter 2016 San Francisco Life Science Market Report
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Multifamily Market Research/Reports

  1. Washington

    1. Seattle Multifamily Market Report
      Third Quarter 2016

      The regional apartment market vacancy rate is currently 3.5%, well below the 20-year average of 4.9%. Vacancy last peaked at a rate of 7.2% in Fall 2009 as the recession was fully felt. Occupancy has increased ever since, and vacancy has oscillated from 3.3% to 4.0% over the past three years as rising new construction has been met with consistent demand. Rental rates are at historic highs but only recently has the rate of increase moderated in the close-in markets.

      Downloads
      Third Quarter 2016 Seattle Multifamily Investments Market Report
      First Quarter 2016 Seattle Multifamily Investments Market Report
      Fourth Quarter 2015 Seattle Multifamily Investments Market Report
      Second Quarter 2015 Seattle Multifamily Investments Market Report
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  2. Oregon

    1. Portland Multifamily Market Report
      Third Quarter 2016

      The Portland multifamily market may not be red hot anymore, but is moderately warm, as rents continue to increase and vacancy decreases, despite construction of new units. The Portland area continues to experience strong job growth along with robust wage and household income gains. Demand to purchase units remains high, and inventory is relatively low, which is driving up the cost to own. The growing population and high cost of buying a home ensure that Portland will remain a strong multifamily market.

      Downloads
      Third Quarter 2016 Portland Multifamily Investments Market Report
      Third Quarter 2015 Portland Multifamily Investments Market Report
      Second Quarter 2014 Portland Multifamily Investments Market Report
      Third Quarter 2013 Portland Multifamily Investments Market Report
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  3. California

    1. San Diego Multifamily Market Report
      Fourth Quarter 2016

      The San Diego apartment market remains lucrative as rents continue to increase and vacancy decreases, despite surging construction. San Diego remains a top destination for relocating workers who seek good weather and proximity to the ocean, high wages and a low unemployment rate. The city's diverse industries include biotech, manufacturing and the largest concentration of military in the world. The growing population and high cost of buying a home ensure that San Diego will remain a strong multifamily market.

      Downloads
      Fourth Quarter 2016 San Diego Multifamily Investments Market Report
      Third Quarter 2016 San Diego Multifamily Investments Market Report
    2. San Francisco Multifamily Market Report
      Third Quarter 2015

      The Bay Area apartment market continues to reach levels of unprecedented demand. While the location is a major attraction, the growing economy has been the main driving force. Venture capital funding for the U.S. has reached its highest level since 2000 at $65 billion. This has flooded the market with new jobs as nearly 60% of the VC funding has been injected into California companies, the majority of which are located in the Bay Area. As a result of the growing population and increased demand for housing, apartment rental rates continue to experience record highs.

      Downloads
      Third Quarter 2015 San Francisco Multifamily Investments Market Report
      Second Quarter 2015 San Francisco Multifamily Investments Market Report
      First Quarter 2015 San Francisco Multifamily Investments Market Report
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  4. Arizona

    1. Phoenix Multifamily Market Report
      Fourth Quarter 2016

      The Phoenix apartment market remains lucrative as surging construction increases vacancy in the short term, meanwhile rents continue their upward climb. Phoenix is a top destination for expanding companies who are attracted to the low-cost operating environment, vast pool of talent and available tax credits in addition to more than 300 days of sunshine a year. The city's diverse industries include healthcare, manufacturing & logistics and emerging technologies. The growing population, more than 150,000 people moved to Phoenix last year alone, ensures a strong multifamily market for years to come.

      Downloads
      Fourth Quarter 2016 Phoenix Multifamily Investments Market Report
      Third Quarter 2016 Phoenix Multifamily Investments Market Report
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Office Market Research/Reports

  1. Washington

    1. Seattle Office Market Report
      Fourth Quarter 2016

      Apple, Cisco, eBay, and Alibaba, these familiar names are examples of tenants looking for new or more office space in the Seattle and Bellevue markets. This follows expansions announced in 2016 by Google, Facebook, Tableau, Salesforce, Valve, Wave Broadband, WeWork, and, of course, Amazon. The growth in the tech industry continues to place the region's office market near the top national markets. This growth is currently bumping up against a shortage of large, tech-friendly, spaces. Even with all of the new space added in the past three years, and that under construction, the regional market has only 14 available spaces over 100,000 s.f. in existing buildings and only six of those are over 200,000 s.f. Only three of the 14 spaces are in projects built after 2000.

      Downloads
      Fourth Quarter 2016 Seattle Office Market Report
      Third Quarter 2016 Seattle Office Market Report
      Second Quarter 2016 Seattle Office Market Report
      First Quarter 2016 Seattle Office Market Report
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  2. Oregon

    1. Portland Office Market Report
      Fourth Quarter 2016

      The Portland office real estate market held its own in the fourth quarter of 2016, while strong economic conditions, diversifying tenant demand, and an appealing investment and development environment indicated considerable growth potential in the new year. Metro Portland reported 82,794 square feet of positive net absorption, its seventh straight quarter in the black, but vacancies ticked up to 7.9% during the quarter, after the market added 189,051 square feet in construction deliveries, some of which were unoccupied at year's end.

      Downloads
      Fourth Quarter 2016 Portland Office Market Report
      Third Quarter 2016 Portland Office Market Report
      Second Quarter 2016 Portland Office Market Report
      First Quarter 2016 Portland Office Market Report
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  3. California

    1. Oakland/East Bay Office Market Report
      Fourth Quarter 2016

      The East Bay office real estate market continued to tighten in the fourth quarter of 2016, as the regional unemployment rate fell to 4%, fueling demand for space that is hard to come by in preferred submarkets. Vacancies marketwide fell to 6.9% amid 67,993 square feet of positive net absorption, but Oakland CBD (4.8%) and Berkeley (3.4%) were both well below the East Bay average. Asking rental rates increased to $2.69, fully serviced, throughout the East Bay, and Oakland CBD asks were much higher, at $3.84 overall and $4.65 for some upper-floor Class A offerings. Despite extremely tight market conditions, the East Bay remains a relatively affordable alternative to San Francisco for companies that are able to find suitable spaces. A handful of new full-floor listings should provide a hint of relief to the severely constrained market, but many large-block users are looking even farther eastward to satisfy their needs. The combination of unyielding demand pressure and limited new construction has brought vacancies to cycle lows, increased rental rates, and enhanced appeal of well-located inner East Bay assets to investors, bringing in new landlords from around the country.

      Downloads
      Fourth Quarter 2016 Oakland/East Bay Office Market Report
      Third Quarter 2016 Oakland/East Bay Office Market Report
      Second Quarter 2016 Oakland/East Bay Office Market Report
      First Quarter 2016 Oakland/East Bay Office Market Report
    2. Orange County Office Market Report
      Fourth Quarter 2016

      The Orange County office market continued to improve in 2016, as pricing continued to increase, vacancy was stable, but we are seeing an increase in the amount of available space on the market. Further into 2017, positive absorption should progress, occupancy costs will continue to increase but new deliveries in the southern half of the county may apply more upward pressure on vacancy. We foresee 2017 being another year of growth.

      Downloads
      Fourth Quarter 2016 Orange County Office Market Report
      Third Quarter 2016 Orange County Office Market Report
      Second Quarter 2016 Orange County Office Market Report
      First Quarter 2016 Orange County Office Market Report
    3. Peninsula/San Mateo County Office Market Report
      Fourth Quarter 2016

      The Peninsula office market continued to send mixed signals as the fourth quarter began, but several indicators point towards a healthy market as we head into 2017. Leasing activity for existing space was relatively sluggish, but the county's vacancy rate remained stable as existing tenants and landlords were reluctant to put space back on the market. While speculation of a declining market lingered throughout the year, several fourth quarter pre-leases in Redwood City, San Mateo, and Burlingame suggested that demand for space remains robust.

      Downloads
      Fourth Quarter 2016 Peninsula/San Mateo County Office Market Report
      Third Quarter 2016 Peninsula/San Mateo County Office Market Report
      Second Quarter 2016 Peninsula/San Mateo County Office Market Report
      First Quarter 2016 Peninsula/San Mateo County Office Market Report
    4. Sacramento Office Market Report
      Fourth Quarter 2016

      The Sacramento office real estate market commanded national attention during an exceptional fourth quarter that saw record investment activity and across-the-board absorption gains in the region. More than $300 million worth of Sacramento-area assets changed hands, the first time the market has eclipsed that mark since the second quarter of 2007. The downtown and suburban submarkets recorded 534,469 s.f. of positive net absorption, which translated to a 100-basis-point year-over-year drop in vacancies, now at a cycle-low 11.4% market wide and 9.6% in the CBD. Asking rents averaged $1.76/s.f. in the fourth quarter, up from $1.74 at the same time in 2015, and downtown asks were at $2.37, both fully serviced.

      Downloads
      Fourth Quarter 2016 Sacramento Office Market Report
      Third Quarter 2016 Sacramento Office Market Report
      Second Quarter 2016 Sacramento Office Market Report
      First Quarter 2016 Sacramento Office Market Report
    5. San Diego Office Market Report
      Fourth Quarter 2016

      The San Diego Office market finished the year with strong leasing activity, high absorption and increasing rental rates. The direct vacancy rate in the overall San Diego market is 10.1% a decrease of 110 basis points from the end of last year. The San Diego County unemployment rate sits at 4.8%, a decrease of 30 basis points from a year ago, and we expect the strong local economy and increasing job growth to drive the real estate market in 2017.

      Downloads
      Fourth Quarter 2016 San Diego Office Market Report
      Third Quarter 2016 San Diego Office Market Report
      Second Quarter 2016 San Diego Office Market Report
      First Quarter 2016 San Diego Office Market Report
    6. San Francisco Office Market Report
      Fourth Quarter 2016

      The San Francisco office real estate market was as dynamic as ever in the fourth quarter of 2016, as tech-sector giants traded space and investors continued to bet big on some of the city's most coveted assets. This quarter's 49,732 square feet of positive net absorption pared the vacancy rate down to 6.2%, and several large move-ins anticipated in the first half of 2017 portend a return to sub-6.0% vacancy in the coming quarters.

      Downloads
      Fourth Quarter 2016 San Francisco Office Market Report
      Third Quarter 2016 San Francisco Office Market Report
      Second Quarter 2016 San Francisco Office Market Report
      First Quarter 2016 San Francisco Office Market Report
    7. Silicon Valley Office Market Report
      Fourth Quarter 2016

      The Silicon Valley office market remained strong during the closing quarter of 2016, and appears poised for slower, but steady growth moving forward. The Silicon Valley economy continues to lead the nation in the areas of growth, income, innovation, and venture capital investment. Santa Clara County's unemployment rate dropped from 4.0% in August to 3.5% in November, according to data released by the California Employment Development Department. The election led to some uncertainty in the market, resulting in a more conservative approach regarding real estate decisions during Q4.

      Downloads
      Fourth Quarter 2016 Silicon Valley Office Market Report
      Third Quarter 2016 Silicon Valley Office Market Report
      Second Quarter 2016 Silicon Valley Office Market Report
      First Quarter 2016 Silicon Valley Office Market Report
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  4. Arizona

    1. Phoenix Office Market Report
      Fourth Quarter 2016

      The Phoenix office real estate market experienced strong leasing activity, over a million square feet of net absorption and rising rental rates during the fourth quarter. Direct vacancy decreased to 15.1%, a 140 basis points decrease from this time last year. The strong local economy and job creation should drive real estate market growth for many quarters to come. The Phoenix unemployment rate sits at 4.5%, a 60 basis point decrease from the 5.1% recorded this time last year.

      Downloads
      Fourth Quarter 2016 Phoenix Office Market Report
      Third Quarter 2016 Phoenix Office Market Report
      Second Quarter 2016 Phoenix Office Market Report
      First Quarter 2016 Phoenix Office Market Report
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R&D Market Research/Reports

  1. California

    1. Silicon Valley R&D Market Report
      Fourth Quarter 2016

      The Silicon Valley R&D real estate market finished off the year strongly, as the local economy continues to thrive with job growth, income, innovation, and venture capital investment. Large-scale users were active throughout the entire Silicon Valley, which demonstrates the high versatility and demand for R&D product. The market posted 436,944 square feet of net absorption, while the vacancy rate remained stable at 8.36%. Average asking rents for R&D product also held steady at $2.18 per square foot per month on a triple-net basis, which does not represent an increase from the previous quarter, but is up $.06 from the end of last year.

      Downloads
      Fourth Quarter 2016 Silicon Valley R&D Market Report
      Third Quarter 2016 Silicon Valley R&D Market Report
      Second Quarter 2016 Silicon Valley R&D Market Report
      First Quarter 2016 Silicon Valley R&D Market Report
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Retail Market Research/Reports

  1. Washington

    1. Seattle Retail Market Report
      Fourth Quarter 2016

      The retail market is strong in the core markets of Seattle and the Eastside, where most of the employment growth is occurring. The balance of the market ranges from stable to slightly soft. There is positive absorption, new construction and a strong investment climate for stabilized centers and single tenant net leased properties. That said, there are several areas of concern. Pressure continues to grow from e-commerce and retailers that cannot differentiate themselves from this form of competition are under stress. Labor costs are increasing and labor intensive industries are feeling that impact.

      Downloads
      Fourth Quarter 2016 Seattle Retail Market Report
      Third Quarter 2016 Seattle Retail Market Report
      Second Quarter 2016 Seattle Retail Market Report
      First Quarter 2016 Seattle Retail Market Report
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  2. Oregon

    1. Portland Retail Market Report
      Fourth Quarter 2016

      Portland's coveted assets and favorable demographics made it one of the most robust retail markets in the Pacific Northwest during the fourth quarter of 2016, attracting a variety of retailers, from single-store startups to notable chains. Net absorption was positive 423,083 square feet in the final three months of the year, the market's best since the third quarter of 2015. Those move-ins were accompanied by 339,090 square feet worth of leasing transactions and vigorous investment activity that saw two of the metro area's shopping centers change hands.

      Downloads
      Fourth Quarter 2016 Portland Retail Market Report
      Third Quarter 2016 Portland Retail Market Report
      Second Quarter 2016 Portland Retail Market Report
      First Quarter 2016 Portland Retail Market Report
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  3. Arizona

    1. Phoenix Retail Market Report
      Fourth Quarter 2016

      The Phoenix retail market ended the year with strong leasing activity, rising net absorption, and a slight ease in rental rates. Total vacancy decreased by 20 basis points to 8.8%, a result of 689,000 square feet of positive net absorption and close to 1.2 million SF of leasing activity this quarter. With growing demand the market continues to tighten, and we expect increased competition for space and higher rates to continue in 2017. The Phoenix unemployment rate sits at 4.5%, a 60 basis point decrease from the 5.1% recorded this time last year.

      Downloads
      Fourth Quarter 2016 Phoenix Retail Market Report
      Third Quarter 2016 Phoenix Retail Market Report
      Second Quarter 2016 Phoenix Retail Market Report
      First Quarter 2016 Phoenix Retail Market Report
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