|
Investing Trends |
|
|
|
|
|
|
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Multi-Family |
|
|
|
Vacancy |
|
9.5% |
|
Rents |
1.5% increase in asking rents due to softer demand |
|
Median Sales Price/Unit |
|
$ 70,700 |
|
Cap Rates |
Averaging in the low 6% range |
|
Construction |
3800 Units in 2008, 5500 in 2007, Plus an unknown amount of
unsold condos coming back to the rental market |
|
Office |
|
|
|
Rentable Area |
|
70,615,530 |
|
Vacancy SF |
|
11,539,804 |
|
Vacancy Rate |
|
16.34% |
|
Net Absorption |
|
(171,278) |
|
Under Construction SF |
|
4,349,019 |
|
Completions SF |
|
825,334 |
|
Average Lease Rate/SF |
|
$25.71 |
|
|
|
|
|
Retail |
|
|
|
Rentable Area |
|
141,638,819 |
|
Vacancy SF |
|
9,255,892 |
|
Vacancy Rate |
|
6.53% |
|
Net Absorption |
|
1,568,384 |
|
Under Construction SF |
|
5,071,301 |
|
Completions SF |
|
2,130,903 |
|
|
|
|
|
Industrial |
|
|
|
Rentable Area |
|
260,603,434 |
|
Vacancy SF |
|
28,974,438 |
|
Vacancy Rate |
|
11.12% |
|
Net Absorption |
|
622,889 |
|
Under Construction SF |
|
5,756,156 |
|
Completions SF |
|
6,138,979 |
|
Average Lease Rate/SF |
|
$ 0.69 |
|
|
|
|
|
Sources: www.cbre.com,
www.marcusmillichap.com, updated July 08 |
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AZ Market |
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