NA T I ONAL M I DWE ST
Net-Lease Roundup PRODUCT
Drugstores Fast food
Automotive stores
Source: Cassidy Turley WE ST Á
Multifamily Rent Forecast Eff ective rent growth (%) 10
0 2 4 6 8
2011 2012F 2013F 2014F
6.1 4.9 4.3 4.5 4.7 5.9 5.8 4.8 2.9 1.4 5.0 4.6 4.1 3.4 9.0 6.4
Cap rate 7.0% 6.8% 8.0%
4Q11 3Q11 Price psf $413 $352 $112
Cap rate 7.1% 7.2% 6.3%
Self-Storage Accelerates
Price psf $383 $356 $116
With auto sales up 14 percent in March, Detroit's auto parts suppliers are relying on commercial self-storage to house surplus parts, boosting the Motor City's self-storage occupancy rate 350 basis points in 2011, according to Marcus & Millichap. T at trend, along with increasing demand from former homeowners turned renters, should push this year's Midwest occu- pancy up 130 bps to 84.8 percent. Rents should follow with a 2.7 percent increase.
SOU T H Ä
Florida Retail Lowest vacancy rates, Feb. 2012
Miami ........................... 7.3% Fort Lauderdale ........... 11.0%
Tampa-St. Petersburg .. 12.1% Source: National Association of Realtors
Denver
Las Vegas E A ST
"Washington, D.C., stands out as one of the most highly active metros for new [offi ce] supply, accounting for nearly a quarter of 2012 new product." — RREEF Real Estate, March 2012
CCIM.com
Seattle Source: Expectations and Market Realities in Real Estate 2012
U.S.
NA T I ONAL Whole Foods Takes a Big Bite
Whole Foods Market is opening 24 to 27 new stores this year and 28 to 32 next year, according to ChainStoreAge.com. T e company doesn't plan to buy, but "we are opportunistic acquirers, and we might consider it if the right deal arose at the right price to enter a new marketplace," said chair- man and co-CEO John Mackey. Whole Foods has 317 stores with 69 in development. It recently signed eight leases, including new markets Frisco, Colo.; South Bend, Ind.; and Jackson, Miss. Along with a move into these smaller, more economical markets, Whole Foods is shrinking its store size by 17 percent to an aver- age of 38,000 sf. T e smaller footprint will increase sales psf by 29 percent, according to store analysts.
May | June | 2012
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