Office markets currently in the beginning of their recovery stage with decreasing rates, low construction and rental growth.
Consists of 61 million s/f of which 15% is vacant. We predict it will take five years for the sector to balance. The sector's property values are expected to increase 6% in 2012-13. 2.695 million s/f is expected to be under construction for the next three years.
Retail Markets currently in the beginning of their recovery stage with decreased vacancy rates and low new construction and rental growth.
Consists of 175.2 million s/f of which 8.72% is vacant. We predict it will take five years for the sector to balance. Property values are expected to increase 10% in 2012-13. 2.19 million s/f is expected to be under construction for the next three years.
Apartment Markets currently in the end of their recovery stage with decreased vacancy rates and low new construction and rental growth.
Consists of 198,000 units of which 4.2% is vacant. The sector is expected to remain balanced for the next year. Property values are forecast to increase 8% in 2012-13. 11.859 million s/f is expected to be under construction for the next three years.
Industrial Markets currently in the end of their recession stage with increasing vacancy rates, low new construction and rental growth.
Consists of 102.5 million s/f of which 20.77% is vacant. We predict it will take five years for the sector to balance. Property values are forecast to increase 6% in 2012-13. 1.64 million s/f is expected to be under construction for the next three years.
David Cary is managing director of Integra Realty Resources, Boston.