Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/143044
S O U T H Ä First Watch Plans Big Canada's Scorecard From the U.S.'s most active cross-border partner, Canadian investors spent almost $8.8 billion on U.S. commercial real estate from February 2012 to February 2013. All property sectors scored a hit, but multifamily and retail were the big winners. # of properties bought and $ spent (in billions) 12 Other $0.22 10 Hotel $0.13 93 Industrial $1.04 48 Office $1.81 110 Multifamily $2.38 87 Retail $3.20 Source: Jones Lang LaSalle/RCA E A S T Ä Á N O R T H Breakfast and lunch restaurant First Watch out of Bradenton, Fla., plans to have 300 akfast ets ofcer outlets by 2017, according to an interview with chief marketing ofcer Chris Tomasso tion's in Nation's Restaurant News. Southeast Florida, Atlanta, Baltimore, Washington, D.C., Nashville, Tenn., and Indianapolis are target markets for this growing chain, which has ville, 105 restaurants and plans to add 20 more this year. Te company is looking for locations taurants locat with substantial daytime populations: "We like to be around daily needs, like grocery bstantial ne d nd stores and dry cleaners," Tomasso said. Charleston's Office Opportunity "Buildings that have not seen any interest in years are now getting attention and getting leased," in Charleston, S.C., according to a Collier's International 1Q13 market report, which is creating opportunities for value-add investors. Charleston's ofce vacancy rate has dropped from 16.1 percent in 1Q11 to 12.3 percent in 1Q13, due to expanding corporate tenants such as Boeing and tech companies. Capital-rich investors can buy and upgrade B and C properties in key locations, knowing they will lease quickly, the report adds. Á W E S T Inland Inventory 437.7 msf 1Q13 Empire 9.4% Industrial Availability Vacancy 5.3% Snapshot Source: Lee & Associates 4Q12 10.7% 5.1% Á M I D W E S T Saddakos/Veer; Vectorman/Veer Indianapolis Races to the Top Afordability, access to universities, and good old local boosterism are moving Midwest cities to the top of site selection lists for corporate headquarters relocations, according to Site Selection magazine. Indianapolis was recently named as the most afordable U.S. market in a corporate headquarters cost analysis of 50 U.S. and Canadian markets by Te Boyd Co. Total operating costs for a corporate headquarters in the Indianapolis market are at least $10 million less than comparable cities on the East and West coasts. Indy's overall ofce vacancy rate dropped below 20 percent in 1Q13 for the frst time since 2008, according to Summit Realty. Te Meridian Corridor, a popular submarket in suburban Carmel, Ind., had a YOY vacancy drop of 4.5 percentage points. CCIM.com July | August | 2013 43