Magazine article Journal of Property Management

Regional Outlook

Magazine article Journal of Property Management

Regional Outlook

Article excerpt

MIAMI

I would describe the Miami market as very hot right now. We have the Panama Canal expansion opening in first quarter 2016. That is driving demand for industrial space. Because we have a shortage of space, land prices for industrial development also are going up. Plus anticipated business from the expansion is driving activity in our office market, which has been slow to recover, but it is picking up speed.

PAUL L. WHITE, CCIM, CPM, CSM, RPA

PAUL L. WHITE & ASSOCIATES, INC. / KW COMMERCIAL, MIAMI

RALEIGH-DURHAM

Overall, Raleigh/Durham continues to be a growing market. New investors entering the market through sales, and positive net absorption in all categories have helped increase development-especially in the office and multifamily sectors. Class C office was the only sector of the market to have a negative absorption rate from Q1 2014 to Q1 2015. The largest category with vacancy remains Class B office reported at 24.5 percent in first quarter with total office a tick over 14 percent. Overall rents are also trending upward with less concessions for free rent.

JASON F. STOWE, CPM

PRESIDENT, INCOME PROPERTIES OF RALEIGH INC. / RALEIGH, N.C.

GREENVILLE, S.C.

Across each of the metro areas-Charleston, Columbia and Greenville-and each of the major CRE types-office, industrial and retail, South Carolina is a story of tight vacancies, rising rental rates and rising construction. With record-setting occupancies in these South Carolina markets, and generally across the state, the demand for space is fueling speculative and build-to-suit construction, and, in the case of the industrial markets, driving national and international capital investments in South Carolina. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.