Market Reports

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Market Research

Hotel Market Research/Reports

  1. Washington

    1. Seattle Hotel Market Report
      Second Quarter 2017

      Thus far in 2017 hotels in South Lake Union have maintained very high occupancy rates, as have the upscale properties in SeaTac. Both markets also reported real growth in room prices. Occupancy was lower in peripheral markets, but prices continued to increase.


      Downloads
      Second Quarter 2017 Seattle Hotel Market Report
      Fourth Quarter 2016 Seattle Hotel Market Report
      Fourth Quarter 2015 Seattle Hotel Market Report
      Second Quarter 2015 Seattle Hotel Market Report
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  2. Oregon

    1. Portland Hotel Market Report
      Fourth Quarter 2016

      Hotels in and near Portland are operating near equilibrium, with minimal fluctuation in occupancy and sustained growth in room prices. Nearly a dozen hotels have opened over the past three years, but market demand has proved sufficient to absorb this new capacity. While pending additions to supply could reduce occupancy rates in the Portland CBD, we expect that most markets will see higher room prices and continued growth in revenue.

      There are still opportunities for development of new hotels. Many small and midsize communities outside the Portland metro area have seen little or no construction in over a decade. In such markets, a new hotel can quickly become the dominant lodging property if properly sized, positioned, and branded.

      Downloads
      Fourth Quarter 2016 Portland Hotel Market Report
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Industrial Market Research/Reports

  1. Washington

    1. Seattle Industrial Market Report
      Second Quarter 2017

      At the midway point of 2017, the region's industrial market saw mostly positive results. Net absorption in the second quarter was positive at 1,186,744 s.f. (nearly 3.2 million s.f. cumulative for the first six months), buoyed by both Pierce and Thurston Counties which helped offset negative net absorption in Seattle, South King, and East King County markets. Vacancy inched up to 3.16% from 3.02%. Construction activity remains strong with nearly 1.7 million s.f. in deliveries for the quarter and nearly 5.8 million s.f. under construction. We would expect absorption to remain positive as there are nearly 2.0 million s.f. of signed leases expecting to take occupancy over the next six months. Another 13.3 million s.f. is in the pipeline that may or may not start over the next several years.

      Downloads
      Second Quarter 2017 Seattle Industrial Market Report
      First Quarter 2017 Seattle Industrial Market Report
      Fourth Quarter 2016 Seattle Industrial Market Report
      Third Quarter 2016 Seattle Industrial Market Report
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  2. Oregon

    1. Portland Industrial Market Report
      Second Quarter 2017

      The Portland industrial real estate (excluding flex) market stayed hot in the second quarter of 2017, as vacancies ticked down to 3.3%, their lowest point in at least 15 years. This quarter's 827,103 s.f. of positive net absorption brought the year-to-date gain in occupied industrial space to 1,628,031 s.f. Asking rental rates climbed to $0.61 on a blended triple-net basis, varying by size, quality, and location of product, with superior offerings recording 17% year-over-year rent growth. The urban retailing giant Amazon fueled 2,037,856 s.f. of leasing activity with plans to open an 857,000 s.f. distribution center in Troutdale that will add some 2,000 fulfillment jobs to the local economy.

      Downloads
      Second Quarter 2017 Portland Industrial Market Report
      First Quarter 2017 Portland Industrial Market Report
      Fourth Quarter 2016 Portland Industrial Market Report
      Third Quarter 2016 Portland Industrial Market Report
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  3. California

    1. Inland Empire Industrial Market Report
      Second Quarter 2017

      The Inland Empire industrial market continued to improve in Q2 2017, as asking lease rates remained stable. Vacancy and availability rates remain at historically low levels, even as massive amounts of new inventory continues to be added to the base. 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 there is strong demand in the market, so any upward pressure on vacancy from the new inventory being added is unlikely to last beyond the short run. We expect moderate increases in leasing and sales activity in the coming year, as job creation stays strong. Throughout 2017, positive absorption should continue, occupancy costs will continue to increase, and with ample new construction in the pipeline, we foresee 2017 being another year of growth.

      Downloads
      Second Quarter 2017 Inland Empire Industrial Market Report
      First Quarter 2017 Inland Empire Industrial Market Report
      Fourth Quarter 2016 Inland Empire Industrial Market Report
      Third Quarter 2016 Inland Empire Industrial Market Report
    2. Los Angeles Industrial Market Report
      Second Quarter 2017

      The Los Angeles industrial market continued to improve in Q2 2017, as pricing continued to trend upward, and both vacancy and availability rates remain at historically low levels. We expect increases in leasing and sales activity in 2017, as job creation maintains its strong growth. Furthermore, we anticipate gains in absorption to continue even as occupancy costs are on a constant rise. New developments are approaching completion dates, which may force upward pressure on vacancy. We foresee 2017 being another strong year of growth for the sector.

      Downloads
      Second Quarter 2017 Los Angeles Industrial Market Report
      First Quarter 2017 Los Angeles Industrial Market Report
      Fourth Quarter 2016 Los Angeles Industrial Market Report
    3. Oakland/East Bay Industrial Market Report
      Second Quarter 2017

      Record-low vacancies and soaring rents continue to rule the day in the East Bay industrial market, where tenant demand remains far ahead of new supply. The market's direct vacancy rate fell below 3% for the first time this cycle during the second quarter, while the average asking rent climbed to a cycle-high $0.95/sf NNN. Those trends reflect exceptionally tight market conditions, following just 679,792 square feet of new deliveries in the last seven quarters, but developers are gradually responding to the East Bay's insatiable tenant demand, with more than 1.5 million square feet of industrial space now under construction. While rental rates may trend slightly downward in the coming quarters, as those state-of-the-art spaces priced near the top of the market are leased, sub-4% vacancies are likely to remain the norm in the logistically superior I-880 corridor for the foreseeable future.

      Downloads
      Second Quarter 2017 Oakland/East Bay Industrial Market Report
      First Quarter 2017 Oakland/East Bay Industrial Market Report
      Fourth Quarter 2016 Oakland/East Bay Industrial Market Report
      Third Quarter 2016 Oakland/East Bay Industrial Market Report
    4. Orange County Industrial Market Report
      Second Quarter 2017

      The Orange County industrial market continued to improve in Q2 2017, as prices continued to trend upward. Vacancy remains at historically low levels, but ticked up to 2.4% this quarter. The lack of product available for lease and sale is driving prices upward and limiting transaction volume in the market. We expect moderate increases in leasing and sales activity in the coming year, as job creation stays strong, but the limited availability will temper transaction volume. Even with rising occupancy costs, we anticipate gains in absorption throughout the year, and with very few deliveries in the pipeline to apply upward pressure on vacancy, we foresee the market staying very tight for the coming quarters.

      Downloads
      Second Quarter 2017 Orange County Industrial Market Report
      First Quarter 2017 Orange County Industrial Market Report
      Fourth Quarter 2016 Orange County Industrial Market Report
      Third Quarter 2016 Orange County Industrial Market Report
    5. Peninsula/San Mateo County Industrial Market Report
      Second Quarter 2017

      The Peninsula industrial market experienced a healthy 515,059 s.f. of gross absorption, but finished in the red for the second consecutive quarter with 329,543 s.f. of negative net absorption. The net loss can be attributed to larger blocks of space being placed on the market, but this isn't time to panic as tenant demand remains strong and recent availabilities will provide new opportunities. The market continues to be constricted in spite of the second quarter's rise in vacancy, which led to another increase in the Peninsula's average rental rate. Leasing activity is expected to persist throughout the year with the north county region being a primary target for distribution and logistics purposes.

      Downloads
      Second Quarter 2017 Peninsula/San Mateo County Industrial Market Report
      First Quarter 2017 Peninsula/San Mateo County Industrial Market Report
      Fourth Quarter 2016 Peninsula/San Mateo County Industrial Market Report
      Third Quarter 2016 Peninsula/San Mateo County Industrial Market Report
    6. Sacramento Industrial Market Report
      Second Quarter 2017

      The Sacramento industrial and flex real estate market kept on rolling in the second quarter of 2017, with 403,324 s.f. of positive net absorption, bringing the year-to-date gain in occupied space to nearly 2 million s.f. Direct-lease vacancies in warehouse and distribution buildings fell to 6.5%, as users continued to flock to Sacramento's logistically superior submarkets, and new construction lagged behind ever-rising demand. Rental rates ticked up to $0.46/s.f. on average, but newer Class A product was going for well over $0.50/s.f., as availabilities dipped to a cycle-low 9.3%. The Sacramento market has seen positive net absorption in 14 consecutive quarters and is poised for even greater gains in the periods to come, as premium firms such as Amazon set up distribution hubs in the area. Strong demand and limited supply of bulk spaces will continue to favor landlords, as rental rates figure to keep rising in the coming quarters.

      Downloads
      Second Quarter 2017 Sacramento Industrial Market Report
      First Quarter 2017 Sacramento Industrial Market Report
      Fourth Quarter 2016 Sacramento Industrial Market Report
      Third Quarter 2016 Sacramento Industrial Market Report
    7. San Diego Industrial Market Report
      Second Quarter 2017

      The San Diego County industrial real estate market closed out the second quarter displaying strong positive net absorption, in a generally tight market of low availability and vacancy rates. Countywide total vacancy decreased this quarter by 30 basis points from last quarter, to 5.3%, below the 5.9% vacancy recorded at the same time last year. The vacancy rate for San Diego County's industrial market is one of the lowest numbers posted in the past ten years, and has remained in this record low for the past two years. The San Diego County unemployment rate sits at 3.6%, below the year-ago estimate of 4.3% and well below the unadjusted unemployment rate of 4.2% for California and 4.1% for the nation. According to the State of California's Employment Development Department, San Diego County's total non-farm employment increased by 20,300 jobs between May 2016 and May 2017, and we expect this strong local economy and increase in job growth to help drive the real estate market in the right direction.

      Downloads
      Second Quarter 2017 San Diego Industrial Market Report
      First Quarter 2017 San Diego Industrial Market Report
      Fourth Quarter 2016 San Diego Industrial Market Report
      Third Quarter 2016 San Diego Industrial Market Report
    8. Silicon Valley Industrial Market Report
      Second Quarter 2017

      The industrial and warehouse market trended positively this quarter, as large users absorbed big chunks of available space. Net absorption was positive for both industrial and warehouse product, at 84,441 s.f. and 53,208 s.f., respectively. Industrial vacancy dropped from 4.95% to 4.77% while warehouse vacancies realized a larger decrease, going from 2.46% to 2.08%. The average asking rate was $1.14 per s.f. per month for industrial spaces and $0.93 for warehouses, both on a triple-net basis. Demand for industrial and warehouse product remains strong in the eastern and southern parts of the Valley. Supply in the western part of Silicon Valley continues to dwindle as product is repurposed for other uses. The decreasing supply paired with steady demand means rental rates figure to trend upward in the near future.

      Downloads
      Second Quarter 2017 Silicon Valley Industrial Market Report
      First Quarter 2017 Silicon Valley Industrial Market Report
      Fourth Quarter 2016 Silicon Valley Industrial Market Report
      Third Quarter 2016 Silicon Valley Industrial Market Report
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  4. Arizona

    1. Phoenix Industrial Market Report
      Second Quarter 2017

      The Phoenix industrial real estate market started the year with increasing development, currently there is just over 4.2 million square feet under construction, and rental rates continue to increase. For the first half of 2017, the market has experienced 4.1 million square feet of positive absorption and new deliveries of over 3 million square feet causing total vacancy to decrease to 9.4%. We expect increased competition for space and higher rates to continue throughout the second half of 2017, in spite of new construction, as a result of the strong economy and business expansion. The Phoenix unemployment rate sits at 4.3%, a 10 basis point decrease from the 4.4% recorded this time last year.

      Downloads
      Second Quarter 2017 Phoenix Industrial Market Report
      First Quarter 2017 Phoenix Industrial Market Report
      Fourth Quarter 2016 Phoenix Industrial Market Report
      Third Quarter 2016 Phoenix Industrial Market Report
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  5. Nevada

    1. Reno Industrial Market Report
      Second Quarter 2017

      Record levels of inbound demand, coupled with strong local tenant growth, produced an excellent second quarter for the Reno industrial market. More than 2.1 million square feet came off the market in leases and owner/user sales this quarter, as a wide array of companies continued to be drawn to Reno's logistical advantages and business friendly climate. Industrial vacancies across the market are at or near record lows, and the quarter's 1,306,493 square feet of positive net absorption pulled the direct vacancy rate below 5% for the first time this cycle. While leasing volume increased to 1,975,752 square feet, the average deal size fell to 32,846 square feet, amid a surge in small-tenant expansions to the 10,000-50,000 square foot range. That growth was accompanied by a record number of new companies visiting the Reno area, and the fierce competition for industrial space portends further absorption gains and rental rate hikes in the coming quarters.

      Downloads
      Second Quarter 2017 Reno Industrial Market Report
      First Quarter 2017 Reno Industrial Market Report
      Fourth Quarter 2016 Reno Industrial Market Report
      Third Quarter 2016 Reno Industrial Market Report
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Life Science Market Research/Reports

  1. California

    1. San Francisco Life Science Market Report
      Second Quarter 2017

      Leasing activity continues to be robust within the Bay Area's life science market as the second quarter finished with 611,760 square feet (s.f.) of gross absorption and 247,133 s.f. of positive net absorption. San Mateo County and Alameda County remain dominant locations as they accounted for 85% of the Bay Area's leasing activity. This contributed to a 0.3% decline in the overall vacancy rate, which currently stands at 3.71%. Tenant demand remains abundant as there are currently 38 tenants in the market requiring 3.41 million square feet of life science space.

      Downloads
      Second Quarter 2017 San Francisco Life Science Market Report
      First Quarter 2017 San Francisco Life Science Market Report
      Fourth Quarter 2016 San Francisco Life Science Market Report
      Third Quarter 2016 San Francisco Life Science Market Report
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Multifamily Market Research/Reports

  1. Washington

    1. Seattle Multifamily Market Report
      First Quarter 2017

      The regional apartment market vacancy rate is currently 3.4%, 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 increased ever since, with vacancy oscillating from 3.3% to 4.0% over the past three years as consistent demand has nearly matched the significant amounts of new inventory. Rental rates are at historic highs but only recently has the rate of increase moderated in the close-in markets. Some suburban markets are seeing increased rent growth as they started their recovery later.

      Downloads
      First Quarter 2017 Seattle Multifamily Investments Market Report
      Third Quarter 2016 Seattle Multifamily Investments Market Report
      First Quarter 2016 Seattle Multifamily Investments Market Report
      Fourth Quarter 2015 Seattle Multifamily Investments Market Report
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  2. Oregon

    1. Portland Multifamily Market Report
      First Quarter 2017

      The Portland multifamily market softened slightly during the first quarter, but employment growth in the metro area continues to fuel strong demand, and rental rates continue to climb. Nearly 9,000 residential units were under construction in metro Portland at quarter's end, giving renters a wide menu of urban and suburban options. Conversely, buyers are finding significant upward demand pressure on prices, as the supply of units for sale remains low. Ongoing population and wage growth in Portland and the surrounding area portends higher rents and decreasing vacancies in the multifamily market in the coming quarters.

      Downloads
      First Quarter 2017 Portland Multifamily Investments Market Report
      Third Quarter 2016 Portland Multifamily Investments Market Report
      Third Quarter 2015 Portland Multifamily Investments Market Report
      Second Quarter 2014 Portland Multifamily Investments Market Report
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  3. California

    1. San Diego Multifamily Market Report
      Second Quarter 2017

      The San Diego apartment market continues to thrive thanks to a strong economic base sustained by science and research and some of the most desirable weather in the U.S., as rents steadily increase and vacancy hits a record low, despite swelling construction. Low vacancies have led to impressive rent gains over the past few years, both of which have led to a sustained development wave that should last for a few more years. Projects continue to break ground in nearly every submarket across the metro, which has so far shown no signs of applying downward pressure on fundamentals and rents. Ultimately, the market's strong supply barriers should keep vacancies and rent growth stable.

      Downloads
      Second Quarter 2017 San Diego Multifamily Investments Market Report
      First Quarter 2017 San Diego Multifamily Investments Market Report
      Fourth Quarter 2016 San Diego Multifamily Investments Market Report
      Third Quarter 2016 San Diego Multifamily Investments Market Report
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  4. Arizona

    1. Phoenix Multifamily Market Report
      Second Quarter 2017

      The Phoenix apartment market remains lucrative as vacancy continues to decrease in spite of new construction driving rents to record highs. 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, over 1,400 new residents relocate to Phoenix per week, ensures a strong multifamily market for years to come.

      Downloads
      Second Quarter 2017 Phoenix Multifamily Investments Market Report
      First Quarter 2017 Phoenix Multifamily Investments Market Report
      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
      Second Quarter 2017

      The region's office market saw a wide variety of activity in the second quarter. Leasing activity was strong, led by the announcement that f5 Networks will lease all 28 office floors in The Mark; several buildings were delivered; a couple more got started; and an array of projects were sold, including two major South Lake Union buildings and an increasing number of suburban investment sales in the Eastside. This strong performance is pushing against the national slowing of commercial real estate investment and leasing. The reason for this is jobs, high wage tech jobs, creating demand for office space, but also supporting expansion in all of the other commercial real estate categories.

      Downloads
      Second Quarter 2017 Seattle Office Market Report
      First Quarter 2017 Seattle Office Market Report
      Fourth Quarter 2016 Seattle Office Market Report
      Third Quarter 2016 Seattle Office Market Report
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  2. Oregon

    1. Portland Office Market Report
      Second Quarter 2017

      Portland's growing technology sector took center stage during the second quarter, as 282,334 square feet of positive net absorption yielded cycle-low vacancies in much of the market. Average asking rental rates rose to $24.77, fully serviced, but the upper floors of Class A CBD towers and creative office spaces that appealed to tech tenants were both achieving rents in the mid-$30s NNN. Institutional investors continued to bet big on Portland's office assets, expecting further growth in office-based sectors and a strong local economy to keep rental rates rising as new inventory comes on line.

      Downloads
      Second Quarter 2017 Portland Office Market Report
      First Quarter 2017 Portland Office Market Report
      Fourth Quarter 2016 Portland Office Market Report
      Third Quarter 2016 Portland Office Market Report
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  3. California

    1. Oakland/East Bay Office Market Report
      Second Quarter 2017

      After reaching historically low vacancies in 2016, the East Bay office real estate market has paused to catch its breath during the first half of this year, finding a better balance between demand and supply. East Bay office properties reported 324,551 square feet of negative net absorption during the second quarter, and the vacancy rate increased to 7.1% in Oakland CBD and 8.8% marketwide. Those levels are consistent with a healthy economy and office market, and demand remains strong, particularly for creative spaces and midsize offices in the 10,000-25,000 square foot range.

      Downloads
      Second Quarter 2017 Oakland/East Bay Office Market Report
      First Quarter 2017 Oakland/East Bay Office Market Report
      Fourth Quarter 2016 Oakland/East Bay Office Market Report
      Third Quarter 2016 Oakland/East Bay Office Market Report
    2. Orange County Office Market Report
      Second Quarter 2017

      The Orange County office market continued to improve in Q2 2017, as prices continued to increase, vacancy remained stable, and the amount of available space in the market rose. We expect the ongoing trend of positive absorption in the market to continue, along with consistent increases in occupancy costs. With larger building deliveries on the way in the Orange County market, the bump in inventory may apply some upward pressure on vacancy in the short run. Nonetheless, with strong demand in the market, we expect further growth in the second half of 2017.

      Downloads
      Second Quarter 2017 Orange County Office Market Report
      First Quarter 2017 Orange County Office Market Report
      Fourth Quarter 2016 Orange County Office Market Report
      Third Quarter 2016 Orange County Office Market Report
    3. Peninsula/San Mateo County Office Market Report
      Second Quarter 2017

      The Peninsula office market slowed down during the second quarter, but continued to see steady leasing activity, which produced 50,987 square feet of positive net absorption. San Mateo and Redwood City continue to attract tenants from overpriced markets in San Francisco and Silicon Valley, keeping the county's vacancy rate stable. Rental rates also remain firm as steady tenant demand preserves a healthy market. The amount of available sublease space, which is often used as a barometer for the markets condition, actually declined over the previous quarter. The market could potentially soften by the end of 2017, but several indicators currently point towards a stabilized market.

      Downloads
      Second Quarter 2017 Peninsula/San Mateo County Office Market Report
      First Quarter 2017 Peninsula/San Mateo County Office Market Report
      Fourth Quarter 2016 Peninsula/San Mateo County Office Market Report
      Third Quarter 2016 Peninsula/San Mateo County Office Market Report
    4. Sacramento Office Market Report
      Second Quarter 2017

      The Sacramento office real estate market kicked back into gear during the second quarter, reporting robust leasing and investment activity, along with 203,906 s.f. of positive net absorption. Vacancies fell to 11.3% marketwide, down 100 basis points from this time last year, as both downtown and suburban submarkets tightened amid rising demand and steady inventory. The largest leases continued to take place in the suburbs, as tenants searching for spacious offices, on-site parking, and lower rents settled on Folsom, Roseville, and Natomas. Asking rents held at $1.78 marketwide, but ranged from $2.42 downtown to $1.26 in Carmichael/Fair Oaks, with the suburban submarkets reporting an overall average of $1.71. More than 2 million s.f. of suburban Sacramento office real estate changed hands in investment sales, as buyers reaffirmed the desirability of the area's single-tenant office campuses. A strong local economy continued to provide ample demand in the market. Overall employment in Sacramento MSA grew by 7,900 jobs year-over-year, and office-based sectors like financial activities and health services showed some of the largest yearly employment gains, suggesting further growth in the market during the coming quarters.

      Downloads
      Second Quarter 2017 Sacramento Office Market Report
      First Quarter 2017 Sacramento Office Market Report
      Fourth Quarter 2016 Sacramento Office Market Report
      Third Quarter 2016 Sacramento Office Market Report
    5. San Diego Office Market Report
      Second Quarter 2017

      The foundation of San Diego's office market is sturdy. A strong employment base buoyed by tech, life sciences, and healthcare provides a backbone of stability. Several top universities, from UC San Diego to the University of San Diego, provide a talent pool of job-seeking graduates. According to Moody's Analytics, the growth in the working-age population in San Diego is expected to top all West Coast metros over the next several years, and San Diego is home to one of the largest percentages of millennials in the United States. With its prime location on California's southern coast, its geographic constraints, and steady demand, vacancies here are holding steady. Additionally, the amount of available sublet space is holding firm just below the five-year average.

      Downloads
      Second Quarter 2017 San Diego Office Market Report
      First Quarter 2017 San Diego Office Market Report
      Fourth Quarter 2016 San Diego Office Market Report
      Third Quarter 2016 San Diego Office Market Report
    6. San Francisco Office Market Report
      Second Quarter 2017

      With several new office towers rising and up to a dozen 100,000 s.f. tenants searching for space, the San Francisco office real estate market remains exceptionally strong. Occupancy levels were unchanged during the second quarter, which saw 16,679 square feet of positive net absorption, but the market added two more leases in excess of 100,000 s.f., bringing the 2017 total to eight. Asking rent trends varied by the type of space being marketed, with creative offerings seeing up to a 5% year-over-year rise in rents while traditional offices trended slightly downward, prompting Class A landlords to offer substantial tenant improvements to attract a wider range of users. Overall, Class A Financial District spaces averaged $70.63, Class B offerings were at $65.90, and Class C creative product was marketed for $67.38.

      Downloads
      Second Quarter 2017 San Francisco Office Market Report
      First Quarter 2017 San Francisco Office Market Report
      Fourth Quarter 2016 San Francisco Office Market Report
      Third Quarter 2016 San Francisco Office Market Report
    7. Silicon Valley Office Market Report
      Second Quarter 2017

      The Silicon Valley Office market realized positive, but small growth during the second quarter of 2017. Demand for office space remains robust as economic performance in the region still leads the nation. Santa Clara County's unemployment rate dropped significantly from 3.5% in February to 2.9% in May, per the California Employment Development Department, and Silicon Valley will likely keep this positive job growth trend going. Overall, the market for office product remained steady during the second quarter and indicators point to similar trends in the coming quarters.

      Downloads
      Second Quarter 2017 Silicon Valley Office Market Report
      First Quarter 2017 Silicon Valley Office Market Report
      Fourth Quarter 2016 Silicon Valley Office Market Report
      Third Quarter 2016 Silicon Valley Office Market Report
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  4. Arizona

    1. Phoenix Office Market Report
      Second Quarter 2017

      The Phoenix office real estate market experienced over 600,000 square feet of positive net absorption, leasing activity was nearly two million square feet, and rental rates continued to increase during the second quarter of 2017. Total vacancy decreased to 16%, a 70 basis point 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 4.3%, a 10 basis point decrease from the 4.4% recorded this time last year.

      Downloads
      Second Quarter 2017 Phoenix Office Market Report
      First Quarter 2017 Phoenix Office Market Report
      Fourth Quarter 2016 Phoenix Office Market Report
      Third Quarter 2016 Phoenix Office Market Report
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R&D Market Research/Reports

  1. California

    1. Silicon Valley R&D Market Report
      Second Quarter 2017

      The Silicon Valley R&D market continued to show steady, positive growth during the second quarter. Demand for R&D product remains robust, and the product's versatility and placement in key submarkets continues to attract a variety of users. Net absorption for the quarter ended up at positive 310,366 s.f., while the vacancy rate dropped from 8.16% to 7.95%. Average asking rates were stable at $2.18 per s.f. per month on a triple-net basis. Demand has been strong, despite notable tech giants continuing to digest their newly held space from the acquisition frenzy over the past few years.

      Downloads
      Second Quarter 2017 Silicon Valley R&D Market Report
      First Quarter 2017 Silicon Valley R&D Market Report
      Fourth Quarter 2016 Silicon Valley R&D Market Report
      Third Quarter 2016 Silicon Valley R&D Market Report
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Retail Market Research/Reports

  1. Washington

    1. Seattle Retail Market Report
      Second Quarter 2017

      The retail market continues to be 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. Ongoing areas of concern include pressure from e-commerce entities, increasing labor costs, and interest rate increases.

      Downloads
      Second Quarter 2017 Seattle Retail Market Report
      First Quarter 2017 Seattle Retail Market Report
      Fourth Quarter 2016 Seattle Retail Market Report
      Third Quarter 2016 Seattle Retail Market Report
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  2. Oregon

    1. Portland Retail Market Report
      Second Quarter 2017

      The Portland market stayed at the forefront of national trends in retail during the second quarter of 2017, enjoying 234,871 square feet of positive net absorption. Vacancies held at 4.1%, as fitness centers, food halls, breweries, and other non-traditional establishments supplanted brick-and-mortar stores to keep vacancies low in the area's retail corridors and shopping centers. Meanwhile, local and national investors reaffirmed the strength of metro Portland's retail assets, trading single-tenant properties with nationally known tenants at cap rates below 6%, while well located shopping centers achieved more than $200/sf.

      Downloads
      Second Quarter 2017 Portland Retail Market Report
      First Quarter 2017 Portland Retail Market Report
      Fourth Quarter 2016 Portland Retail Market Report
      Third Quarter 2016 Portland Retail Market Report
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  3. California

    1. Sacramento Retail Market Report
      Second Quarter 2017

      Similar to other property types within this metro, the Sacramento retail market was hit especially hard by the recession. But thanks to exceptionally strong demand throughout the current cycle, retail vacancies have compressed significantly. Construction has been steady, but 2017 is poised to emerge as the strongest year of the cycle for new deliveries based on what's underway. Sacramento's average rents are a fraction of those in the Bay Area, and healthy rent growth over the last several years has maintained momentum into the first half of 2017.

      Downloads
      Second Quarter 2017 Sacramento Retail Market Report
    2. San Francisco Retail Market Report
      Fourth Quarter 2016

      The Bay Area retained its place as one of the most competitive and coveted retail markets in the country during the fourth quarter of 2016, as many cities and submarkets flirted with full occupancy, particularly in desirable retail corridors. San Francisco's retail vacancy rate was 1.8% to close the year, while San Mateo and Berkeley hovered around the 1% mark. Rental rates are at or near cycle highs throughout the market, and demand remains robust, as food and beverage concepts take over spaces vacated by traditional, brick-and-mortar retailers.

      Downloads
      Fourth Quarter 2016 San Francisco Retail Market Report
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  4. Arizona

    1. Phoenix Retail Market Report
      Second Quarter 2017

      The Phoenix retail real estate market experienced almost 725,000 square feet of positive net absorption, leasing activity was nearly 1.3 million square feet, and rental rates continued to increase during the second quarter of 2017. Overall, strong tenant demand bolstered by positive job and population growth enabled absorption to outpace supply additions for the sixth straight year.

      Downloads
      Second Quarter 2017 Phoenix Retail Market Report
      First Quarter 2017 Phoenix Retail Market Report
      Fourth Quarter 2016 Phoenix Retail Market Report
      Third Quarter 2016 Phoenix Retail Market Report
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