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January | February | 2015 CCIM.com
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Istimages/Thinkstock
E A S T
New York Retail Highest
in the World
Asking retail rents of $3,550 psf per year on Fif h Avenue in New
York are the highest in the world, according to Colliers Interna-
tional. Madison Avenue in New York posts the second-highest
U.S. rent on the list at $1,643 psf per year, up 24 percent from
last year. While the dollar f gures are astronomical compared
with other U.S. cities — the third highest is Honolulu at $420 psf
per year — double digit YOY rent increases are found in many
markets, signaling a strong comeback for retail in 2015. Of 27
markets tracked, 17 saw retail rent increases between 10 percent
and 30 percent.
W E S T
Offi ce Still Struggles
Direct vacancy rates, 3Q14
Colorado Springs, Colo. 22.0%
Dallas ........................... 17.8%
Las Vegas ..................... 27.4%
Los Angeles CBD .......... 20.0%
Phoenix ........................ 21.3%
Source: Cushman & Wakefi eld
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N A T I O N A L
"The average warehouse/
distribution facility in the U.S. is 42
percent larger than it was in 2000.
When it comes to supply chain
advantages, these giant facilities
allow companies to experiment with
different fulfi llment strategies and
respond to the demands of high-
turnover online retailing."
— John Morris, leader, Cushman & Wakef eld Industrial Services for the
Americas
W E S T
San Diego Multifamily Strong
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5%
4%
3%
2%
1%
0%
0
500
1000
1500
September
2014
September
2013
3.59%
$1,515
$1,475
4.44%
Asking Rent Vacancy
S O U T H W E S T
Houston Offi ce Snapshot,
3Q14
Total vacancy 12.2%
YTD absorption 3,069,106 sf
12-month rent growth 9.5%
Under construction 15,635,602 sf
Preleased 58%
Source: JLL
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