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Greetings,
The Third 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 Cresa's mid-year North America Overview, uncertainty was the watchword, with the European debt crisis and anemic US job growth combining to keep economic growth mostly flat. As we close the third quarter of 2012, modest growth continues, the unemployment rate finally dips below 8.0 percent, and the Euro-zone debt crisis has so far not substantially impacted the US and Canada economies.
U.S. Economy The unemployment picture has improved slightly from mid-year, declining 0.3 percentage points to 7.8 percent in September, and total non-farm payroll employment rose by 114,000. This is a small but significant improvement over the first 8 months of the year, when the rate fluctuated between 8.1 and 8.3 percent. The number of unemployed persons, at 12.1 million, decreased by 456,000 in September. Industries seeing the most employment include healthcare, transportation, and warehousing, as well as modest job growth in financial services. Jobs in professional and business services, which make up the largest occupiers of office space, showed little change. >> Click here for link to the full report. |
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Fairfield County
Although there was signficant activity in the market during the third quarter, there was little change in the overall vacancy rates for Fairfield County Class A and B buildings. By the end of the third quarter, the vacancy rate for Class A buildings decreased by .2% to 21.7% . The vacancy rates for Class B buildings ended the quarter at 25.3% - an increase of 0.8% over the second quarter. Average asking rental rates decreased slightly with Class A buildings averaging approximately $1.25 less per square foot compared to last quarter. Click here for link to 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. |
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, Global Accounts, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, and Facilities Services. With more than 57 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.
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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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