OUTLOOK REGIONAL
SOUTH
Miami's Big Deal Lincoln Road Mall was one of the top acquisitions in 1H 2012, as Vornado Realty Trust JV paid $1,039 psf, or $132 million total, according to Real Capital Analytics, purchasing the 13-year-old center from a company controlled by New York real estate investor Aby Rosen. The high price surprised some market followers, given that the property was appraised at only $41 million last year. The center is 96 percent leased and garners rents around $220 psf, more than triple Miami Beach's retail average of $74.48 psf, according to local sources.
NA T I ONAL WE ST Á
Revitalizing Downtown Tucson Private investment projects, 2008–2013
10 20 30 40 50
0
Restaurants/ bars
Retail Source: Downtown Tucson Partnership 42 Office Multifamily 48 38 23 6
Investment (in millions)
High-Tech on the Move
Not all the job-producing power resides in Silicon Valley, Calif., according to CBRE's High-Tech Power Index. In fact, it's distributed among several secondary markets. Between 2009 and 1H2012, U.S. high-tech services jobs grew almost 10 percent, nearly six times faster than the national average, and 2.5 percent faster than other offi ce-using jobs, according to CBRE.
High-Tech Services Job Growth
2009–2011 Portland, Ore. +12% Salt Lake City +10% Boston +9% Denver
+8%
Pittsburgh +9% Source: CBRE
November | December | 2012 Commercial Investment Real Estate