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List # 1 of NAI Global Spotlight Issues



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The Baltic States serve as a natural bridge for East-West traffic, making it an ideal place for foreign companies to use as a base for expanding business operations, both to Western Europe and Eastern Russian markets.The Baltic States continues to be one of the most attractive markets in Europe for foreign investors. One major advantage of the three Baltic countries is their strategic location at the crossroads between Eastern and Western Europe.

Produced by: NAI Global, posted by NAI Baltics -2008

Kuwait is a highly industrialized country and is the fourth richest country in the world per capita.
The real estate sector in Kuwait continues to boom as evidenced by the construction cranes littering the skyline.
Kuwait's strong economic growth has contributed towards a positive business environment, which in turn has attracted more foreign companies to participate in different sectors of the country.
The rising number of expatriates and growing purchasing power are fueling retail consumption, thereby shaping the retail real estate market in Kuwait.

Produced by: NAI Global, posted by NAI Baltics -2008

Indianapolis was ranked by Forbes magazine as the sixth best city for jobs in 2008, based on a combined graded balance of median household incomes, lack of unemployment, income growth, cost of living and job growth.
Indianapolis is the most centrally located city of the top 100 markets in the U.S. and is served by more segments of interstate highway (7).
The retail market has experienced significant redevelopment in recent years.
The North suburban office market continues to expand beyond the 19 million SF of existing inventory.

Produced by: NAI Global, posted by NAI Baltics -2008

Bucharest is the capital city, as well as the industrial and commercial center of Romania.
The office market in Bucharest is very dynamic. Current demand for quality office accommodations continues to significantly exceed supply.
With Romania’s expanding economy, and the increased purchasing power and consumption it is generating, the retail market is attracting intense interest from retailers, developers and investors.
Demand for new warehouse projects is driven by large multinationals entering the market, as well as those considering relocating from older facilities.

Produced by: NAI Global, posted by NAI Baltics -2008

Budapest is Hungary’s political, cultural, commercial, industrial and transportation center.
Hungary serves as a bridge for East-West traffic, making it an ideal place for foreign companies to use as a base for expanding business operations in the region.
The office market in Hungary has entered into a new development phase, with a large number of Class A projects under way.
Hungary has served as a logistics center, providing a gateway between Western Europe, the Balkans and Eastern Europe.
The retail sector continues to experience growth with the addition of several new shopping centers and strip malls in Budapest and regional cities across the country.

Produced by: NAI Global, posted by NAI Baltics -2008

Tel Aviv is Israel's economic hub, home of the Tel Aviv Stock Exchange, many corporate offices and research and development centers.
Real estate market activity in Tel Aviv continues to show significant growth.
For the past two years the office rent in Tel Aviv has increased by almost 50% due to the lack of new construction.
The retail sector remains strong with growing demand for space..
In the logistics sector, sales and leasing has increased due to the rise in economic activity and imported products.

Produced by: NAI Global, posted by NAI Baltics -2008

Melbourne is a major business and financial center. It is home to Australia's busiest seaport, much of Australia's automotive industry and many other manufacturing industries.
Economic growth is heavily influenced by an active commodities sector and high levels of business investment.
The office sector has had the most improvement in recent years.
With interest rates rising, retail turnover growth has slowed.

Produced by: NAI Global, posted by NAI Baltics -2008

Washington, D.C., is the U.S. capital and a leading city for global real estate investment.
Washington, D.C., remains among the best markets in the country for job growth.
Minor vacancy increases are expected due to new buildings being delivered throughout the market.
The Washington metro area has over 112 million SF of retail space, inclusive of all types of retail, in just over 1,000 shopping centers.

Produced by: NAI Global, posted by NAI Baltics -2008

Tourism is the most important industry in Hawaii, especially in Honolulu, which is the leading economic center of the state.
Hawaii’s economy is healthy and expected to maintain moderate growth.
With the continued recovery of the Japanese economy and an increased interest in secondary markets by U.S. mainland investors/developers, property values should continue to rise moderately throughout 2008.
Honolulu’s Downtown office market is strong and office buildings are expected to receive increased attention from investors throughout 2008.

Produced by: NAI Global, posted by NAI Baltics -2008

Cleveland has established itself as a major American medical and manufacturing center.
The Cleveland real estate market has had a rebound in activity in 2007.
The CBD office market continues to offer the best leasing opportunities.
Demand for industrial buildings larger than 100,000 SF continues to be strong, while the inventory of flex and warehouse space under 20,000 SF remains substantial.
Demand for industrial buildings larger than 100,000 SF continues to be strong, while the inventory of flex and warehouse space under 20,000 SF remains substantial.

Produced by: NAI Global, posted by NAI Baltics -2008

Strategically located on the road to the Americas, Montreal is a true international hub for business and the gateway between the American and European economies.
Montreal ranks fourth in North America for high-tech employment.
The Greater Montreal office market accounts for over 21% of the entire Canadian market.
There is approximately 326.5 million SF of rentable industrial space in The Greater Montreal Area, including 25 industrial and scientific parks in Montreal’s West Island communities.

Produced by: NAI Global, posted by NAI Baltics -2008

Philadelphia's economy is heavily based on manufacturing, refining, food and financial services, but the city also has a strong health sciences and education base with five medical colleges.
The largest private employer in Philadelphia is the University of Pennsylvania.
Penn has been a major player in the expansion and redevelopment of University City.
The city will see increased development activity in the near term as a result of the expansion of the Pennsylvania Convention Center and the inauguration of casino gambling.
Retail leasing activity remains strong throughout much of the Philadelphia MSA.

Produced by: NAI Global, posted by NAI Baltics -2008

A major international finance center, Tokyo houses the headquarters of several of the world's largest investment banks and insurance companies, and serves as a hub for Japan's transportation, publishing and broadcasting industries.
Demand for office, retail and well-located industrial and residential properties remain strong, resulting in unit rental increases in all sectors, most notably in retail and office.
Strong demand for Class A and B office properties is driving down vacancy rates and rents are rising, particularly in central Tokyo.
The industrial sector in Japan continues to be the weakest in terms of land value movements, particularly in the more remote areas, but values and rents have finally stabilized.

Produced by: NAI Global, posted by NAI Baltics -2008

Ireland is an open trade economy and has been one of the fastest growing economies in the developed world.
The Irish property market continues to be one of the strongest sectors driving economic growth in Ireland.
Demand for prime investment product remains strong, although the underlying trend is that investors are more cautious and are taking longer to make investment decisions.
The Dublin office market continues to see record levels of letting transactions with over 121,000 SM of office space leased.
Suburban office vacancy rates have fallen with areas such as Sandyford, Santry and locations around the M50 performing well.

Produced by: NAI Global, posted by NAI Baltics -2008

Caracas is a regional center for the distribution of products. The high concentration of population is also an important factor for the growth of retail wholesale markets, which form the fastest-growing segment of commerce in the region.
Oil prices are a key driver of the Venezuelan economy and with oil prices in record-breaking territory at year-end 2007, the investment market outlook is very strong.
Venezuela is in the process of becoming a member of Mercosur, a Latin American trading area that includes Argentina, Brazil, Uruguay, Paraguay and Chile.
The office market in Caracas is dependent on foreign companies and has become thin.

Produced by: NAI Global, posted by NAI Baltics -2008

St. Louis has transformed from a manufacturing and industrial economy into a globally known focus for research in medicine, biotechnology and other sciences.
The Greater St. Louis Metropolitan area saw moderate economic growth in 2007 with conservative economic expansion expected to continue during 2008.
With the delivery of 1 million SF of new construction, the office market remains in a state of flux.
The industrial market experienced high vacancy rates in the past year, especially in distribution space.
Big Box development continues to lead the retail market with new players such as Lifetime Fitness, Cabella’s, Gander Mountain and Incredible Pizza joining existing retail giants such as Wal-Mart, Target, Kohl’s, Lowe’s and Home Depot.

Produced by: NAI Global, posted by NAI Baltics -2008

Raleigh is part of North Carolina's Research Triangle, a primary center in the United States for high-tech and biotech research as well as textile development.
The Raleigh/Durham area has a strong, diverse economic climate, high quality of life, skilled workforce and acclaimed universities.
There are no predominant signs of investor disinterest in the income property market and capital continues to flow into the area.
Despite uncertainty about the U.S. economy, the office market experienced a slight drop in vacancy.

Produced by: NAI Global, posted by NAI Baltics -2008

Moscow is Russia’s economic, financial, education and transportation center.
With 18 million inhabitants, Moscow concentrates 13% of the Russian population and accounts for more than 20% of the country’s GDP.
The Moscow office market continues to experience rapid growth.
The retail market follows the same trend characterized, by an increasing number of large European retailers looking for high quality locations in the area.
Largely under-supplied, the industrial sector is attracting an increasing number of local and foreign investors.

Produced by: NAI Global, posted by NAI Baltics -2008

Ho Chi Minh City is the most important economic center in Vietnam as it accounts for a large percentage of Vietnam's economy.
The Ho Chi Minh City office market has seen a rapid increase in rents as sustained demand, high occupancy levels and little new supply have allowed landlords to raise prices.
Lower-grade office buildings see similar growth in rental levels with steadily increasing demand, especially from domestic Vietnamese enterprises.
Quality space also is in short supply in the retail market.

Produced by: NAI Global, posted by NAI Baltics -2008

Orlando is the third largest metropolitan area in the state of Florida. Known throughout the world for its theme parks and
destination resorts, tourism accounts for $30 billion in annual spending almost 400,000 direct and indirect jobs in the region.
With a population of just over 2 million, Orlando has consistently been one of the top three metropolitan areas in the state for job growth, with an unemployment rate below the state and national averages.
Orlando’s economy is well diversified beyond the tourism industry.

Produced by: NAI Global, posted by NAI Baltics -2008

Stockholm has been the political and economic center of Sweden since the 13th century.
The Swedish real estate market is one of the most attractive markets in Europe for both domestic and foreign investors.
Several factors have made the property market in Sweden attractive for foreign investors.
The office market is stable and rental levels have risen in the Stockholm CBD.
The retail market is strong with a significant number of new developments in the pipeline for the next couple of years.

Produced by: NAI Global, posted by NAI Baltics -2008

Fort Worth is the second-largest cultural and economic center of the Dallas–Fort Worth–Arlington metropolitan
area commonly called the Metroplex, the fourth-largest metropolitan area in the U.S. with a population of 6 million.
The Fort Worth market continues to show positive growth.
Fort Worth claims one of the tightest office sectors in the country with a vacancy rate below 4% in Class A office space and less than 9% overall.
The FortWorth industrial market is showing positive absorption with low vacancy rates for flex, shallow bay and bulk warehouse space.

Produced by: NAI Global, posted by NAI Baltics -2008

Denver's economy is based on its geographic position and its connection to some of the major transportation systems of the country.
The Denver Metropolitan area is experiencing high interest from outside investors.
There is an apparent optimism along the Front Range due to the many enhancements taking place.
The office market continues to benefit from immigration and new job growth, dropping vacancies below 15% Metro-wide.
The outlook for the industrial market continues to be good and in favor of most investors.

Produced by: NAI Global, posted by NAI Baltics -2008

Copenhagen is a center for business and science, not only in Denmark, but also in the Oresund Region and Scandinavia.

Produced by: NAI Global, posted by NAI Baltics -2008

Detroit and the surrounding region constitute a manufacturing powerhouse, most notably as home to the Big Three automobile companies, General Motors, Ford, and Chrysler. The city is an important center for global trade, and home to many large international law firms.
While the commercial real estate markets remained flat in 2007, 2008 looks to provide modest growth in all sectors of the market throughout Greater Detroit.
Despite the national economic challenges, prices did increase in Detroit’s retail sector.

Produced by: NAI Global, posted by NAI Baltics -2008

Idaho Falls serves as a regional hub for health care, travel and business in southeast Idaho.
Southeast Idaho continues to experience strong growth and attract national attention for its solid economy, quality of life and low cost of living.
The Taylor Crossing development has spurred growth on the west side of Idaho Falls near the new Super Wal-Mart.
Pocatello is one of the nation’s most strategically positioned inland ports at the junction of I-15 and I-86.
The Teton Valley has experienced an influx of developers and investors pouring money into the pristine mountain valley for golf courses, condos and multi-million dollar vacation homes.

Produced by: NAI Global, posted by NAI Baltics -2008

As the capital of Taiwan, Taipei has been at the center of rapid economic development in the country and has become a global city in the production of high technology and its components.
Taipei’s economic growth rate continues to increase.
The total office inventory in Taipei is 1.4 million pings (approximately 50 million SF), and about 70% is occupied.
The Nei Hu submarket accounted for approximately 50% of the overall investment in new office properties.
The industrial market in Taiwan has been directed by the government to encourage strategic industries.

Produced by: NAI Global, posted by NAI Baltics -2008

Located in the heart of Florida’s Great Northwest, Panama City is well known for its sugary white sand beaches and
a recent development boom that has brought $626 million in new construction.
Expansion of highways, the international port and rail systems reflect an aggressive response by local governments to the recent market growth.
Panama City has continued to expand its retail market with the opening of Pier Park, bringing in a 1 million SF lifestyle center that includes Jimmy Buffet’s Margaritaville, Target and a 16-screen cinema, as well as the first Panera Bread and Old Navy in this market.

Produced by: NAI Global, posted by NAI Baltics -2008

New Delhi is becoming an important commercial center in South Asia. Construction, power, telecommunications, health and community services form integral parts of Delhi's economy, and its service sector is expanding, due in part to a large skilled English-speaking workforce that has attracted multinational companies.
The real estate market in India is on a high curve as the booming economy and favorable demographics make real estate an attractive investment option for domestic and foreign investors.
Office space absorption in the New Delhi is set to exceed 8 million SF
Tenant demand for suburban offices in the metropolis is expected to exceed a 30% annual growth rate from the IT and ITES sectors.

Produced by: NAI Global, posted by NAI Baltics -2008

One of seven American cities classified as Gamma world cities, Atlanta ranks third in the number of Fortune 500 companies headquartered within city boundaries, behind New York City and Houston.
The investment market in Atlanta is booming.
Atlanta’s office, industrial and retail markets continue to gain strength due to a strong increase in new jobs and a low unemployment rate.
Demand for office space throughout is high.

Produced by: NAI Global, posted by NAI Baltics -2008

Although best-known as the center of the world’s entertainment industry, the Los Angeles economy is also driven by international trade, aerospace, technology, petroleum, fashion and tourism.
The economy in Los Angeles County is large (the second largest in the nation, following New York), highly diversified and growing by approximately 50,000 jobs per year
Growth in demand for space is projected to remain very strong from companies involved in international trade, as well as from companies in entertainment and professional services.
Diversification within this market and the projected tight market conditions make Los Angeles County highly attractive to institutional investors.

Produced by: NAI Global, posted by NAI Baltics -2008

Dallas is a hub for economic activity all over the Southwestern United States.
Dallas continues to thrive, largely due to its central location and the transportation hub of one of the busiest airports in the world.
Healthy absorption and rising rents are leading to new construction of new office buildings, especially in the CBD.
The Dallas Industrial market has also shown increased activity and improved absorption.
The Dallas retail market continues to show strong activity and increased occupancy.

Produced by: NAI Global, posted by NAI Baltics -2008

Oslo is home to over 975 companies and 8,500 employees in the maritime sector, including some of the world's largest shipping companies, ship brokers and insurance brokers.
The Norwegian economy is booming as high activity in the energy sector and low interest rates stimulate private consumption and investments.
With office vacancy rates declining and rents rising, several large development sites are on the rise.
The city center retail market is growing and vacancy rates are down.

Produced by: NAI Global, posted by NAI Baltics -2008

Known as the "Crossroads of the West" for its central geography in the western United States, the modern economy of Salt Lake City is service-oriented.
The Salt Lake City office market remains strong and vibrant.
The retail market is experiencing dramatic growth as retailers pursue their expansion plans in Salt Lake County.
Industrial Demand continues to exceed supply with values and rates on the rise.
Investment activity is strong in all product types, although sales are slightly less than the previous two record-breaking years.

Produced by: NAI Global, posted by NAI Baltics -2008

Once an industrial city with an economic base focused on steel processing, shipping, auto manufacturing and transportation, Baltimore is now a modern service economy.
The general consensus within the commercial real estate community is that leasing hasn’t been as brisk as in recent years.
The office condominium market has experienced increasing activity in recent years due to new construction and conversions.
The industrial market has slowed down compared to previous years.

Produced by: NAI Global, posted by NAI Baltics -2008

Johannesburg is the economic and financial hub of South Africa and accounts for 40% of economic activity of the wealthiest province in South Africa. The South African property market outperformed European property for the second year in a row. Regional shopping centers are still the most highly regarded property type, followed by industrial leaseback and decentralized offices. Cap rates still point south, and are unlikely to face upward pressure in the near term. Inventory levels rose strongly in manufacturing as well as in the wholesale, retail and motor trade sectors, consistent with the general buoyancy of demand in the market. The manufacturing sector is expected to continue to perform well, which should sustain low industrial vacancies and support the upswing in industrial rentals.

Produced by: NAI Global, posted by NAI Baltics -2008

Prague has been the political, cultural and economic center of the Czech state for over 1,000 years. The office market is outperforming previous years with an increase in supply to 250,000 SM. Office demand is dominated by the finance, professional services, manufacturing and IT sectors. Vacancy rates in older buildings continue to rise as tenants seek modern office space with good technical specs, large floor plates, convenient access by car and public transport and ample parking facilities. Retail is a strong performer with 20+ shopping centers opening over the last few years. Total inventory has grown to approximately 1.5 million SM. Demand is fueling strong real wage growth and relatively low inflation and an improving unemployment situation. Six new centers are scheduled to open before the end of 2008.

Produced by: NAI Global, posted by NAI Baltics -2008

With 2.7 million residents, Tampa Bay is the second largest metropolitan area in Florida and the third largest in the Southeastern United States. The Tampa Bay area is experiencing tremendous population growth, making the market a driving force in Florida's economy. The market is primarily divided into three separate but equal geographical locations, Pinellas, Hillsborough and Pasco/ Hernando counties. Pinellas County includes the coastal region with beach frontage and tourism/hotel-based economies. The downtown St. Petersburg and Clearwater markets in Pinellas County have experienced a transformation from a once predominantly retirement-based population to a young urban professional demographic. Downtown St. Petersburg is leading the way with a core redevelopment program that has more than 12 multi-story residential condominium and mixed use properties under construction.

 Produced by: NAI Global, posted by NAI Baltics -2008

Chennai, the third largest commercial and industrial center in India, has emerged as a multifaceted metropolis. Chennai’s economic growth is fueled by the automobile, software development & business process outsourcing industries, traditional industrial houses of TamilNadu and Telecom. Other key industries include hardware manufacturing, financial services, banking, petrol-chemicals and textiles. Approximately 50% of the total projected Commercial /IT space supply has either been pre-leased or already absorbed, indicating the robust demand in the city. Due to increasing corporate interest in Chennai, the city is expected to see total supply increase to 9.1 million SF in 2007.

Produced by: NAI Global, posted by NAI Baltics -2008

Chicago is a major financial center with the second largest central business district in the United States. The outlook for the downtown office market remains positive. Leasing activity remains strong, especially in the West Loop. Several major tenants are looking at other proposed buildings for future requirements. Rental rates are beginning to edge upward as unencumbered quality space on higher floors all but disappears. Vacancy rates are expected to continue to fall for the next six months. The outlook for most of the suburban office markets is also positive. Several users continue to shop for large blocks of space in the North Suburbs, the O’Hare Area, and the East-West Corridor. Construction continues on four projects in the North Suburbs. Rental rates and concession packages will reflect the growing optimism of much of the market.

Produced by: NAI Global, posted by NAI Baltics -2008

Istanbul has been called the capital of "Euro–Asia" and acts as an international gateway for several regions. Rapid improvement in the Turkish economy has had a positive impact on the commercial real estate market. Buy ratings for office, industrial /warehouse and retail put Istanbul in the top three for all three property types. Istanbul is also Turkey’s top-ranked development market. Rental rates for Grade A prime office space reached US$30 per M² per month while yields were in the 11%-12% range. Total Grade A stock in the CBD is around 1.3 million M², of which 1.05 million M² is located in the European CBD and 250,000 M² in the Asian CBD. The 3.7% growth rate in office inventory in 2006 is the highest level seen in the last three years.

Produced by: NAI Global, posted by NAI Baltics -2008

The Las Vegas Valley has emerged as a multi faceted metropolis that reaches far beyond hotel casino mega resorts. With more than 1.8 million residents, the greater Las Vegas region boasts a strong workforce and favorable business climate with no state corporate income tax or personal income tax. Due to significant population growth, commercial real estate markets continue to flourish and mitigate the majority of negative impacts associated with a normalizing housing market. Many commercial sectors have reported record-setting construction and absorption activity during the past several quarters. The office, industrial and retail sectors have more than doubled during the past decade with continued expansion expected.

Produced by: NAI Global, posted by NAI Baltics -2008

Kolkata, the former capital of British India, has emerged as the favored destination for IT & ITES companies among the Tier II & III cities in India. The Kolkata office market is driven by high demand for large office space in IT sectors. The off-CBD locations, Salt Lake and Rajarhat, have become the “preferred destination” of global corporations in IT and electronics. Most major national and international companies such as TCS, IBM, PWC, Cognizant, Computer Associates,WIPRO, and NIIT have started their operations there.  Approximately 20 million SF of new commercial space is expected over the next two to three years, with much of the new supply concentrated in large IT Parks by national and international developers like DLF, Unitech, Ascendas and Keppel Land at Salt Lake sector-V and Rajarhat.

Produced by: NAI Global, posted by NAI Baltics -2008

The Greater Boston real estate market houses some of the world's most prestigious universities, hospitals, biotech and technology companies and financial services firms. The commercial real estate sales boom of 2006 continued into 2007, with record-setting transaction volume across almost all property types. According to Real Capital Analytics, the Boston office market has seen a 197% increase in transaction volume with $11.4 billion in sales in the past 12 months. The downtown Boston office market has tightened. Overall class A and B vacancy has declined to 9.1%, while rental rates have increased significantly to an average of $43 per SF. Proposals for class A space in the Financial District and Back Bay are asking up to $75 per SF and $90 per SF, respectively.

Produced by: NAI Global, posted by NAI Baltics -2008

Hong Kong maintains a highly capitalist economy built on a policy of free market, low taxation and government non-intervention. Demand for office space in Hong Kong’s CBD has been very strong demand in the last several quarters, leading to asking rents as high as HK$153/SF/month. Rentals have been supported by a lack of visible supply in Central district and continued demand from existing and new financial tenants who remain willing to pay for the premium location. Vacancies in Central remain below 4%. These strong supply-demand forces are compensating for the trend towards decentralization, where larger existing tenants are looking to move back-office operations to neighboring areas to reduce costs. Approximately 5.5 million SF of new Class A office space will come online in 2007 and 2008, with 90% located in secondary districts.

Produced by: NAI Global, posted by NAI Baltics -2008

Kuala Lumpur is Malaysia's commercial and financial capital and home to the tallest twin towers in the world. The Petronas Twin Towers stand at a majestic 88 stories and 1,483 feet high. The city continues to thrive on Malaysia’s strong economic growth and is currently experiencing an unprecedented real estate boom. Service apartments in the prime Golden Triangle sell for $295 per SF, up almost 35% from a year ago. The soon-to-be-completed ‘The Binjai’ condominiums (171 units) are expected to be priced above $443 per SF. Strong demand for Class A office space is driven by better corporate earnings, liberalization of the financial services sector, and the entry of foreign groups and the expansion of the oil & gas sector. Petronas Twin Towers is securing rents above $2.95 per SF per month. The occupancy rate in Class A buildings is above 90%.

Produced by: NAI Global, posted by NAI Baltics -2008

Kiev is the country's largest, wealthiest, and most service–oriented economy. It outperforms the rest of the country by a significant margin in economic output, corporate presence and share of foreign direct investment. Ukraine’s strong economic growth is creating high demand for office space. The market has a total inventory of 790,000 square meters.With occupancy rates averaging 97%, rental rates are increasing 10%-15% annually. Approximately 200,000 square meters of high-quality space is in the development pipeline for 2007.  According to the AT Kearney report, Ukraine is the 4th most promising retail market in the world and the most rapidly growing retail market in Central and Eastern Europe. Retail trade turnover grew by 23.5% in 2006 to total US $31 billion, doubling the previous year’s growth. With virtually no vacancy, rental rates increased by 50%. Yields in the retail segment are high relative to Eastern European markets or Moscow, ranging from 13%-15% for shopping centers.

Produced by: NAI Global, posted by NAI Baltics -2008

There is increased investment interest in commercial real estate in Sofia, driven by relatively high yields. Considerably high yield levels of 8% to 11% make Sofia very attractive to investors. The average yield level for commercial property throughout Europe is approximately 5.5%. Sofia is the fastest-growing city in Bulgaria because of internal migration. It receives about 60% of the total FDI flow for Bulgaria. There is no shortage of available office space in Sofia. However much of the vacancy is still ….

Produced by: NAI Global, posted by NAI Baltics -2008

Louisiana's adopted recovery theme of Recover, Rebuild, Rebirth rings true for the New Orleans economy and for the spirit of the people of New Orleans. Recent population estimates indicate a 14% increase in New Orleans' population over the past seven months, as some of the hardest hit areas are now beginning to see tangible improvements to city services. For the most part, the suburban population centers to the west of the city have fully recovered. St. Bernard Parish, which had 66,000 residents pre-Katrina is now back to about 28,000 residents.

Produced by: NAI Global, posted by NAI Baltics -2008

Buenos Aires is the financial, industrial, commercial and cultural hub of Argentina. Real estate markets are experiencing an upward trend as the Argentine economy heads toward a strong growth path. Argentina recorded 40% GDP growth over the past four years.  Vacancy rates for Class A Office space have dropped to single digits and prices continue to rise. Demand is firm and supply has not expanded enough to keep pace with demand. This trend will prompt more development activity, especially in refurbishment of older buildings, as there is a lack of land in the downtown market. The industrial markets have seen a similar trend with generally low vacancy, firm prices with…

Produced by: NAI Global, posted by NAI Baltics -2008

With economic, political and social conditions that provide a fertile business environment, the Bahamas is a paradise for investment. Over 60%of the GDP in the Bahamas is generated from tourism and hospitality businesses. However, the office market in Nassau is driven by offshore banks and financial institutions, including UBS, Credit Suisse and Lombard Odier Darier Hentsch. The Bahamas has become a particularly favorable venue for international investment. It has established generous legal incentives to attract foreign investors and has streamlined government bureaucracy for expeditious project approval.

Produced by: NAI Global, posted by NAI Baltics -2008

Seattle is a flourishing metropolis driven by a diverse and resilient economy, strong entrepreneurial spirit and historically vital business sectors. Technology, globalization and location/quality of life are the big three factors that drive the local economy. Seattle also boasts a favorable business development environment and attractive personal tax climate, which includes: no personal income tax, low property tax and no tax on interest, dividends, or capital gains help its growth. Construction in the office, industrial, retail, and multi family sectors is a significant driver in the region. In downtown Bellevue alone, over 2 million square feet of office space, 500,000 square feet of retail and 2,100 multi-family units were delivered in 2006.

Produced by: NAI Global, posted by NAI Baltics -2008

Boise has received national attention from several publications as being a great city to live and work.  Boise’s office market continues to grow with strong absorption and new owner occupied construction. Several new projects have been completed in the Downtown, Central Bench, Meridian and Eagle submarkets adding to the total office inventory of 11 million SF. Lease rates currently average $18.80 SF and are expected to increase slightly, due to the increased costs of construction materials, taxes and utilities. There has been a lot of activity in the industrial market over the past year resulting in the…

Produced by: NAI Global, posted by NAI Baltics -2008

Vienna has historically been a focus for commerce between East and West Europe. New supply represents only 1.9% (190,000 square meters) of the total office inventory. Large deals and high turnover in the small and medium-size segments are expected to produce leasing volume in excess of 370,000 square meters in 2007. _ Top rents for high quality office space are <22 per square meter per month; the average rent in Vienna is <11.70 per square meter per month. Vienna the host City for  the  "REAL Vienna" - important event to participate for CEE /SEE real estate professionals.

 

Produced by: NAI Global, posted by NAI Baltics -2008

 Santiago is the industrial and financial center of Chile and one of the main financial centers of South America. The Chilean economy has served as a foundation for a stable real estate market and its foreign investors. The real estate sector is expected to grow between 4% and 5% in 2007. Strip malls have emerged as an increasingly important retail commercial property type. In Santiago, over the past five years, more than 20 strip centers with at least 2,000 square meters each were developed. Rental rates for these strip malls per square meter are between US $19.20 and US $28.50.

Produced by: NAI Global, posted by NAI Baltics -2008

San Francisco is the banking and financial center of theWest - a vibrant hub of regional, national and global business. San Francisco County’s office market continues to experience steady recovery with declining vacancy and escalating rents. Market-wide vacancy declined to 10.6% at year-end 2006. The year achieved more than 1 million square feet of positive net absorption with 1.3 million square feet. The annual average asking rate for the City’s office product was $34.26 per square foot full service at the close of 2006, representing a gain of $4.07 from the previous year.

Produced by: NAI Global, posted by NAI Baltics -2008

Paris is France's premier centre of economic activity.  France has been established as a key market for international property investment, increasingly attracting foreign investors. Investors have shown interest primarily in new products and sectors such as retirement and nursing homes, clinics and apartment hotels. To date, the French have been the leading investors in the market, with more than 50% of acquisitions.

Produced by: NAI Global, posted by NAI Baltics -2008

New York City is a global center for business and commerce and one of the most important financial centers in the world. A tenant can expect to pay $175 per SF for a suite on the top floor of the GM Building, but that’s still a bargain compared to London’s West End, where a recent deal at 77 Grosvenor topped $230 per SF. Overall demand for office space is at its highest in Midtown, where Class A space is in short supply and asking rents are averaging $58.57 per square foot. The overall rates are boosted by the Plaza District, where average rents are $76.40 per SF.

Produced by: NAI Global, posted by NAI Baltics -2008

Säo Paulo is one of the most important financial centers in Latin America.  With an economic infrastructure that was established over a century ago, the city has an integrated industrial base, a network of services linked to the main world centers and extensive resources for information, leisure and culture. Many multi national companies have their national or continental headquarters in São Paulo, and the city provides the headquarters for more German and

Produced by: NAI Global, posted by NAI Baltics -2008

Toronto is North America's fourth largest financial marketplace and has been deemed the second most creative city in the world. The Greater Toronto Area (GTA) is the fourth largest industrial market in North America with an industrial inventory of over 690 million square feet. Growth has occurred in the suburban cities of the GTA rather than the city proper; in the last 15 years the suburbs has attracted 800,000 new jobs while the city has lost 100,000. 

Produced by: NAI Global, posted by NAI Baltics -2008

Frankfurt am Main is the leading financial marketplace in continental Europe. Frankfurt is the financial and transportation center of Germany. More than 300 national and international banks are represented in the main metropolis.  According to a ranking list produced by The University of Liverpool, Frankfurt is the richest city in Europe by GDP per capita.

Produced by: NAI Global, posted by NAI Baltics -2008

Orange County has been one of the hottest markets in the nation for commercial real estate in the last three years. The economy in Orange County is supported by a cross-section of industries, port activity, international trade and a combination of old-economy business and new high-tech businesses. Office space continued to be in demand in 2006. The overall office vacancy rate dropped from 8.3% to 6.8% and lease rates rose nearly 3%. New office developments are prepared to come on line in 2007.

Produced by: NAI Global, posted by NAI Baltics -2008

Iceland's standard of living is ranked amongst the highest in the world. From 1996 to 2005, economic growth averaged 4.5% in Iceland, considerably faster than the 3% average growth rate among the Organization for Economic Co-operation and Development (OECD) countries. Over the same period, the growth of per capita real disposable income averaged 4.5% also significantly more than the OECD countries.

Produced by: NAI Global, posted by NAI Baltics -2008

China's successful bid to host the 2008 Olympics has had a profound effect on Beijing's economic and physical development. Despite Chinese regulations, real estate has been growing and will continue to do so. In 2005, it was estimated that US$5.5 billion was invested in the China real estate markets. The Olympic Games are expected to attract $16.65 billion in direct investment and create 1.82 million new jobs. As a reflection of this, the city government of Beijing predicts that the GDP will grow at a hefty 9% per year until 2010.

Produced by: NAI Global, posted by NAI Baltics -2008

Mexico City is often seen as the first stop for foreign investors in Mexico. Mexico City, capital of Mexico, is one of the world’s largest cities. It hosts most of the major corporate headquarters from various global sectors represented in the country. Returns on investments, vary from 9-14% depending on the tenant risk factor and property quality. Returns on industrial investments are generally in the 9-11% range and the riskier retail properties are in the 10-14% range.

                                                                      

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Commercial Real Estate

"NAI Global®, as part of a joint venture with Hilco Real Estate, was retained in 2003 on WorldCom's behalf. The joint-venture team identified and secured buyers for the majority of WorldCom's 25 properties, achieving aggregate sales in excess of $250 million. Successful lease renegotiations completed by the NAI team resulted in $180 million of savings for WorldCom over the life of the leases. ."
WorldCom
Managing Director
WorldCom




Commercial Real Estate






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