Coldwell Banker Commercial Southeastern US Q3 Market Report

Here is your copy of the Southeastern US 3rd Quarter Coldwell Banker Commercial ViewPoint
Commercial Real Estate Market Report: Download Here.

Florida Notes:

Market Conditions Kill Ritz-Carlton Project in Tampa
Developers of Ritz-Carlton Tampa Bay blame market conditions and timing for placing the $420 million project on hold. The developers were apparently unable to obtain financing even though they planned to provide $90 million of their own money for the project.

Florida Real Estate Experts Staying Calm
Florida real estate experts are not panicking in response to the national economic crisis, according to a recent survey by the University of Florida. Florida’s housing crisis is worse than in other states, Archer said. But respondents to the survey think the state will benefit the same way it has in the past, by capitalizing on retirees. But the recent drops in the stock market and the tightening of credit will probably delay the plans of retiring baby boomers, Archer said.

The sale of Winter Garden Village, Winter Garden, FL
A 1.14 million SF regional shopping center, located in Winter Garden, FL has been sold.

110,600 SF Industrial Property in Orlando Under New Ownership
The 110,600 SF industrial property in Orlando has just come under new ownership, courtesy of Monmouth Real Estate Investment Corp.'s acquisition from FE Orlando Investment L.P

215,000 SF Coral Gables, FL Office Project Has First Space Commitment

Rockefeller Group Business Centers Inc. has become the first business to commit to space on the tenant roster at Ponce de Leon Towers, a 215,000 SF office project in Coral Gables, FL.

Southeast Commercial Market Notes:

Southeast Has Retail Edge - Region fairing better than the rest of the country.According to developers and brokers in the Southeast, retail development in this part of the country is handling the slumping development market with more tenacity than the rest of the United States.

Southeast OFFICE - Summary of Market

• Miami was ranked in the top five for the Southeast for Retail Vacancy and Rent Growth for this quarter.
• The number of Office transactions that occurred in the Southeast for this quarter continued its downward slope as well as transaction dollar volume.
• Out of the 359 Office transactions in the US for this quarter, only 83 (less than 25%) occurred in the Southeast.

Southeast APARTMENT - Summary of Market

• Columbia was ranked in the top five for the Southeast for Apartment Inventory and Rent Growth for this quarter.
• The number of Apartment transactions that occurred in the Southeast for this quarter continued its downward slope but transaction dollar volume remained flat.
• Out of the 77 Apartment transactions in the Southeast for this quarter, 33 (over 40%) occurred in Atlanta.

Southeast RETAIL - Summary of Market

• Baltimore was ranked in the top five for the Southeast for Retail Vacancy and Inventory Growth for this quarter.
• The number of Retail transactions that occurred in the Southeast for this quarter continued its downward slop, how-ever transaction dollar volume increased slightly.
• Out of the 272 Retail transactions in the US for this quarter, 56 (only 20%) occurred in the Southeast