Tuesday, May 25, 2010
Wednesday, May 19, 2010
Friday, May 7, 2010
Rising Vacancy and Lower Rents - The Facts
I was reading the May Commercial Property Executive Magazine when I came across some interesting data from REIS, Inc. for nationwide averages for retail vacancys and rents. Below is a table I did from the data looking at the percentage change from one year to the next in vacancy and lease rate.
Yr Vacancy% Rents$ Delta V Delta $
2000 6.4 15.89
2001 7.1 16.31 11% 3%
2002 7.3 16.68 3% 2%
2003 7.2 17.14 -1% 3%
2004 7 17.62 -3% 3%
2005 6.8 18.22 -3% 3%
2006 7.1 18.92 4% 4%
2007 7.5 19.46 6% 3%
2008 8.9 19.52 19% 0%
2009 10.6 19.13 19% -2%
2010 Est 11.5 18.86 8% -1%
What this shows is that even a 19% change in vacancy at best reduces rents 2%.
This makes the retail rental rate of $14.50 at 831 South Church St at I-85 across from the Movies and up Church st. from Goodwill the best value around. And they include utilities!
Destination Retail in Flex Space Units off South New Hope for $7.50 have even more value.
Please note lease rate is annual base rate per sf per year before triple net charges of taxes, insurance & maintenance.
Yr Vacancy% Rents$ Delta V Delta $
2000 6.4 15.89
2001 7.1 16.31 11% 3%
2002 7.3 16.68 3% 2%
2003 7.2 17.14 -1% 3%
2004 7 17.62 -3% 3%
2005 6.8 18.22 -3% 3%
2006 7.1 18.92 4% 4%
2007 7.5 19.46 6% 3%
2008 8.9 19.52 19% 0%
2009 10.6 19.13 19% -2%
2010 Est 11.5 18.86 8% -1%
What this shows is that even a 19% change in vacancy at best reduces rents 2%.
This makes the retail rental rate of $14.50 at 831 South Church St at I-85 across from the Movies and up Church st. from Goodwill the best value around. And they include utilities!
Destination Retail in Flex Space Units off South New Hope for $7.50 have even more value.
Please note lease rate is annual base rate per sf per year before triple net charges of taxes, insurance & maintenance.
Tuesday, May 4, 2010
Sites at Exit 22 I-85 Lowell NC
MLH Properties to J&R Rentals property of 5.8 acres on South Main St. Lowell NC $5,200,000
22 at Lowell Sites
22 at Lowell Sites
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