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March | April | 2015 CCIM.com
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N A T I O N A L
"The Small Business Optimism Survey rose 2.3 points to 100.4 in
December 2014, its highest level since October 2006, a strong signal that
American small businesses could be fi nally shaking off the effects of the
Great Recession."
— Bill Dunkelberg, NFIB Chief Economist
M I D W E S T
Top Midwest Job Markets
Employment growth, 2015F
Nashville, Tenn.
Louisville, Ky.
Indianapolis
Milwaukee
St. Louis
U.S. metro average
3.1%
2.4%
2.4%
2.3%
2.1%
2.1%
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S O U T H
Orlando Tops Multifamily
Index
T ree Florida cities placed on the Multifamily Opportunity
Index, indicating "outsized near-term upside potential in the
form of price appreciation," according to Marcus & Millichap's
2015 Apartment Report. First-place Orlando, fourth-ranked
Tampa-St. Petersburg, and Fort Lauderdale at seventh place
have seen signif cant rent and occupancy gains unaccompa-
nied by value appreciation. In Orlando's case, "per-unit prices
in the metro are of more than 30 percent from their cyclical
peak, despite a nearly 16 percent gain in revenues," according
to M&M.;
MARKET YE EFFECTIVE RENTS % INCREASE
2014 2015F
Orlando $955 $1,005 5.2
Tampa-St.
Petersburg
$937 $978 4.3
Fort Lauderdale $1,311 $1,372 4.6
Source: Marcus & Millichap
Source: Marcus & Millichap
E A S T
Boston Joins the Big City Ranks
Af er a year totaling $9 billion in of ce transactions — an 80 percent YOY increase —
Boston joins the ranks of major global investment cities, says CBRE's 2015 New England
Outlook report. A total of 32 class A of ce properties located in the greater Boston CBD
area traded hands in 2014, representing an inf ux of capital from foreign and other out-of-
market investors. One such transaction was the $2.1 billion sale of f ve Boston of ce towers
in the Blackstone/EOP portfolio to Canada-based Oxford Properties. "Boston represents
a value investment compared to New York, San Francisco, and other gateway cities," says
the CBRE report, noting that outside investors have little interest in suburban properties,
creating opportunities for those investors priced out of the CBD.