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Greetings,
The First Quarter 2012 Cresa Tenant's Guide to North American Real Estate Markets is now available online at www.cresa.com. The Guide identifies trends in vacancy, absorption, and rental rates in the major markets across North America.
Following is a sampling of the reports:
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North America
 In our January 2012 North America Market Overview, Cresa noted that the prognosis for the commercial real estate markets in 2012 was somewhat brighter than it had been in 2011, but that active markets will be confined to a few "gateway cities" such as San Francisco, Boston, Seattle, New York, and Los Angeles, as well as energy-related markets such .as Houston, Denver, and Calgary, with most other markets still hampered by excess supply and slow job growth. Nothing has happened in the first quarter of 2012 to change our predictions for the year.
Employment rose by 243,000 in January, 227,000 in February, and 120,000 in March, but the unemployment rate remained relatively unchanged at 8.2 percent, as a similar number of people returned to the workforce. Employment rose in professional and businesses services, health care and social assistance, leisure and hospitality, manufacturing, and mining. |
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Fairfield County
The overall vacancy rate for Fairfield County class A buildings is 20.8% for the first quarter of 2012, which is a slight decrease compared to the fourth quarter of 2011. A similar decrease occurred in the vacancy rates for class B buildings, which ended the quarter at 25.4% Average asking rental rates increased for both classes with class A experiencing almost a $2.00 per square foot increase compared to the last quarter of 2011.
Once again, the most significant change in average rental rates occurred in class A buildings in Greenwich which increased by over $13.00, while the average rental rates for the same in Stamford remained consistent with last quarter. >> Click here for the full report. |
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Please let us know if you have any questions about market conditions or would like to discuss your specific real estate needs.
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About Cresa
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Portfolio / Lease Administration, Capital Markets, Sustainability, Industrial / Supply Chain and Facilities Management. With more than 55 offices, Cresa is the largest tenant representation firm in North America. Through its partnership with Savills, one of the world's largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries. For more information visit www.cresa.com. |
Cresa Fairfield County
200 Connecticut Avenue, 4th Floor | Norwalk, Connecticut 06854-1907
203-899-7700 main | 203-899-7701 fax
www.cresa.com |
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