Commercial Investment Real Estate

SEP-OCT 2017

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.

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CCIM.COM September | October 2017 21 empsitquickguide.htm#payroll. The report provides jobs at the NAICS super-sector level, which is a grouping of the NAICS sector codes. Take a look at Polk County, also the Lakeland-Winter Haven MSA at https://www.bls.gov/regions/southeast/fl_lakeland_ msa.htm. In conjunction with the Census QuickFacts report, this study allows the commercial real estate expert to articulate clearly and quickly the basic drivers of demand for real estate in the targeted geographic area. Looking In-Depth The BLS Quarterly Census of Employment and Wages has a new tool called the QCEW Data Viewer, listing county, MSA, state, and national data by industry at https://data.bls.gov/cew/ apps/data_views/data_views.htm#tab=Tables. This data provides a closer look at employment in the geo- graphic area, and it may be an alternative way to look at the BLS data for the county level since the Economy at a Glance focuses on MSAs. To continue the example, select different employment catego- ries for the NAICS subsectors in Polk County at https://data. bls.gov/cew/apps/table_maker/v4/table_maker.htm#type=7 &year;=2016&qtr;= 4&own;=5&area;=12105&supp;= 0. This report delves more in-depth about employment and adds the location quotient tool. By arranging the data in descending order for the location quotient column, this reveals that warehousing employment in Polk County is almost five times the national average. For more information about location quotient, refer to https://data.bls.gov/cew/doc/info/location_quotients.htm. Clearly in this market, industrial real estate is robust. Location quotient also can provide indications of other opportunities. For example, NAICS 713: Amusements employment is 50 percent higher than the U.S. average. This is attributable to the Legoland Theme Park in Winter Haven at www.legoland.com. To summarize, the commercial real estate professional can use these three tools to quickly understand and articulate the high-level demographic and economic attributes of the local U.S. market they are analyzing. • Census QuickFacts at https://www.census.gov/quickfacts/ • Economy at a Glance at https://www.bls.gov/eag/ • Quarterly Census of Employment and Wages Data Viewer: county, MSA, state, and national data by industry at https://data.bls.gov/cew/apps/data_views/data_ views.htm#tab=Tables Gary M. Ralston, CCIM, CPM, SIOR, is a partner at Coldwell Banker Commercial Saunders Ralston Dantzler Realty in Lakeland, Fla. Contact him at gary@srdcommercial.com. Connect with Decision Makers Sponsor Upcoming CCIM Events Learn more at conference.ccim.com On its 50th Anniversary, CCIM Institute is holding its marquee event, the CCIM Global Conference, in Toronto. For multinationals and mid-sized firms, it makes for a unique opportunity to showcase your business and connect with commercial real estate's value drivers.

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