Commercial Investment Real Estate

JAN-FEB 2018

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/923123

Contents of this Issue

Navigation

Page 11 of 54

CCIM.COM January | February 2018 7 Cost of Living Diverges in Top 5 U.S. Cities* Medical Office Building Forecast * 100 = national U.S. average for the cost of living Source: Sperling's Best Places Victor (buildings) TMSK Sylverarts Healthcare Industrial Data Centers Multifamily Student Housing Downtown Office Suburban Office Hotel Retail 1 56% 2 53% 3 31% 4 31% 5 22% 6 18% 7 10% 8 8% 9 7% New York City Chicago Boston Los Angeles San Francisco 180 312.9 110.9 112.4 101.1 169.9 268.8 124.7 166.2 314.1 93.3 272.6 604.1 115.3 110 Overall Housing Health 8.5 msf CONSTRUCTION: New building falls below the previous five-year average for medical office in 2017. The Midwest and Southern regions will lead deliveries this year. Almost 9 msf of space was completed in 2016. 40 basis-point decrease VACANCY: Absorption is strong in 2017, propelling the overall vacancy rate to 7.6 percent. The rate will stay tightest in the Pacific Northwest, Central Plains, and California regions. In 2016, medical office vacancy declined by 80 basis points. 0.8% increase ASKING RENT: West Coast regions delivered the highest rents, with several markets well above $30 psf in 2017. The average rent moved up slightly to $23.03 psf nationally. Top CRE Executives Select Best Investment Choices Source: DLA Piper 2017 State of the Market Survey Source: Marcus & Millichap

Articles in this issue

Links on this page

Archives of this issue

view archives of Commercial Investment Real Estate - JAN-FEB 2018