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List #2 of NAI Global Spotlight Issues #66 - #......



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Miami: ‘Business Capital of the Americas’.
Often called the “Business Capital of the Americas” for global companies, as well as thousands of smaller businesses, Miami’s proximity to Latin America and the Caribbean is a key strategic
asset that makes this community the ideal location for international commerce in the Western Hemisphere.
Unparalleled access is offered through the region and around the globe via Miami InternationalAirport and the Port of Miami.

by: NAI Global, posted by NAI Baltics -2009

Despite Economic Challenges, Beijing Economy Appears Strong.
The global financial crisis has slowed Beijing’s growth.
Due to the 2008 Olympic Games and the expectation of an improved post-Olympic economy,a large amount of new supply has been added to Beijing’s office market since 2008.
Some multinational companies have opted to put aside or halt expansion plans temporarily.

Produced by: NAI Global, posted by NAI Baltics -2009

Airport, Great Location Spur Canton Growth.
The greater Canton area is strategically located in Northeastern Ohio at the crossroads of the eastern and midwestern markets.
One of the bright spots in the market has been the growth around the airport.
On the industrial front, another bright spot is the successful redevelopment of a former Hoover plant in North Canton (1 million SF on over 28 acres), which is being converted to a
mixed-use property with plans for retail, industrial and office space.

Produced by: NAI Global, posted by NAI Baltics -2009

Dallas is growing as an economic and transportation hub in the southwestern U.S.
Job growth in North Texas is still among the highest in the nation.
Texas has taken its place as the top destination state for residential relocations for the fourth year in a row, according to Allied Van Lines’ 41st Annual Magnet States Report.
Dallas continues to be a business friendly city.

Produced by: NAI Global, posted by NAI Baltics -2009

Buenos Aires Market Slows, Remains Economic Force in South America.
After five years of strong annual growth, Argentina’s economy slowed significantly in 2008 and marginal growth is projected for 2009.
The office market in Buenos Aires is expected to soften as demand falls in line with the economic downturn.
The industrial market has seen a marked slowdown as industrial activity has started to drop.

Produced by: NAI Global, posted by NAI Baltics -2009

Atlanta area remains a haven for both national and international relocations and expansions and is ranked second-least-expensive city in the USA in which to operate a corporate headquarters.
Metropolitan Atlanta is home to over 5.3 million residents and 137,000 businesses, and is ranked the eighth-largest metropolitan area in the United States.
Atlanta is also home to the world’s busiest airport with over 30 airlines and 2,400 daily flights to over 250 worldwide destinations.

Produced by: NAI Global, posted by NAI Baltics -2009

Australia is one of the busiest exporters of raw materials, commodities, automotive and many other manufacturing
industries. Melbourne is one of the major financial hubs of Australia.
The Australian economy is well integrated into global financial markets and functions on the frontier of global technology.
The Melbourne office market has weathered a substantial increase in supply and is currently enjoying a lower vacancy rate than many predicted five years ago.

Produced by: NAI Global, posted by NAI Baltics -2009

Mexico City Economy Grows With Focus on International Trade and Increased Domestic Consumption.
The nation’s capital, Mexico City is home to major corporate headquarters of local, national and multinational companies like Coca Cola, Pepsi, Honeywell, HP, Citibank, ING, GM, Ford, Nissan, Honda, Grupo Modelo, Telmex, CFE, BIMBO and PEMEX.
Excessive industrial demand in the northern sector of Mexico City caused developers to seek new markets in 2008.
The retail sector, once very hot, is cooling off.

Produced by: NAI Global, posted by NAI Baltics -2009

NewYork City is a global center for business and commerce and one of the most important corporate centers in the world.
With more than 550 million square feet of commercial office space within its five boroughs, New York City makes up the largest real estate market in the United States.
New York City’s economy is unparalleled, rivaling most of the world’s nations with its sheer size and diversity.

Produced by: NAI Global, posted by NAI Baltics -2009

Geneva Plays Host to International Corporate Headquarters.
Located in west Switzerland, Geneva lies in the French-speaking area and is traditionally known for private banking, the high-end watch industry and UN organizations.
The CBD office market has been in demand with an influx of hedge funds from London’s West End.

Produced by: NAI Global, posted by NAI Baltics -2009

Led by State Government,Albany Economy Also Hotbed for High Technology.
With quick access to the major markets of New York City, Boston and Montreal, but with a lower cost of living and favorable real estate prices, the real estate market in New York State’s Capital Region is a diamond in the rough.

Produced by: NAI Global, posted by NAI Baltics -2009

Grand Rapids Gets Boost from Healthcare Services and Alternative Fuel Technologies.
West Michigan is getting a powerful boost from the healthcare services industry with nearly $1 billion dollars in new construction propelling growth in its diversified economy.
Due to the popular, family-oriented, outdoor activities that West Michigan offers, Cabela’s, a hunting, fishing and outdoor gear retailer, has targeted Grand Rapids.
With international giants like Amway/Alticor, Steelcase, Haworth, Herman Miller, Pfizer, Gentex, Perrigo, Johnson Controls, Benteler, Gerber, Royal Technologies,Wolverine Worldwide and regional retailers like Meijer and Gordon Food Service,West Michigan attracted 87 international companies with 70 of those headquartered in Europe.

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

Pittsburgh Acclaimed as Safe Haven for Real Estate, One of the Best Cities to Ride Out Recession.
Despite the national economic slowdown, employment in the Pittsburgh Region continues to grow, totaling 1,164,100 in October 2008.
Much of Pittsburgh’s future is tied to its industrial past.
Recently, The University of Pittsburgh Medical Center made the decision to lease 500,000 SF of office space at U.S. Steel Tower.
Recently, Kiplinger.com named Pittsburgh one of its six Safe Havens in Real Estate, with below average unemployment and foreclosure rates and high affordability.

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

Construction and Development Extend Urban Sprawl to Halifax Suburbs.
As the largest city in Atlantic Canada, Halifax is the business center for all of Nova Scotia.
Vacancy rates in office space in the Halifax CBD have dropped to 3.2% as of June 2008, the lowest rate in over three decades, resulting in an increase in rental rates.
With new, modern, energy efficient space and lower than normal vacancy, rental rates for industrial buildings are also on the rise.

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

A Port and Transit Hub, Porto Alegre is one of the most important cultural, political and economic centers of Southern Brazil.
Porto Alegre is the fifth most populated city in Brazil. As the capital of the Rio Grande do Sul state, Porto Alegre is an important port for the Mercosul (South American Common Market).
The city’s economy is based on the service sector, followed by the industrial sector and farming.
The area attracts large corporations like GM, Dell Computers, RBS, Gerdau and Ipiranga.

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

San Jose leads Costa Rica’s international growth.
In the past 10 years, Costa Rica has grown with a very stable economy that has attracted investors, corporations and financial entities.
Tourism and hotel development brought hotels like Four Seasons, Rosewood, Barceló, RIU, Hilton, Marriot and Intercontinental among others, most of them located on the coast.

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

At the end of a boom cycle, Helsinki presents strong, stable market for investment and trade.
Helsinki is Finland’s capital for business, education, research, culture and government.
Transaction activity slowed in 2008 from the historically high levels in previous years.
Most of the total office stock is in the Helsinki metro area (Helsinki, Espoo, Vantaa), which is one of the strongest growing metropolitan areas in Europe, and the commercial center of Finland. In 2008, approximately 250,000 SM of new office space has been completed.

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

Commercial Harbor, Seaside CBD Place Marseille at the Heart of the European-Mediterranean Exchanges.
Known as the second city of France, Marseille has seen tremendous development in the last 12 years.
Marseille debuted under the “EUROMEDITERRANEE’s plan” led by the Urban Development Agency, a new CBD on the seaside.
An attractive home for international companies, a number of corporations have made Marseille a regional location or headquarters, including DHL, Telecom Italia, NYK, Compass Group and CMA CGM to name a few.

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

World’s Second Largest Proven Oil Reserves, Diverse Economic Base Drives Edmonton Growth.
In the past several years Edmonton has had the strongest period of economic growth of any
province in the history of Canada.
The office market has seen continued growth in both construction and rental rates. The market has matured over the last five years into one of speculative construction without preleasing.

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

Culture, business climate and location draw corporations to Zurich.
The Greater Zurich Area is the largest commercial region in Switzerland and is driven by the financial and industrial sectors.
Foreign interest remains strong despite the current low lending availability to investors. However, the market is small and prime properties are in short supply.
Bahnhofstrasse is the prime retail location and counts major global brands among its tenants.

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

St. Petersburg earns designation as Europe’s fourth largest city with significant investment in business and global trade.
St. Petersburg is Russia's second most important economic, scientific and cultural center after Moscow.
The demand for Class A and B offices has been growing significantly over 2008 due to many western companies coming to this market.
With many new projects in the pipeline, the industrial market is destined to be over-supplied soon for the first time in many years.

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

Volkswagen, ‘livability’ position Chattanooga for growth.
Chattanooga continues to rake in awards for its livability.
Chattanooga’s economic strength is evidenced by recent major business announcements, including Volkswagen’s decision to build a $1 billion auto assembly plant, Blue Cross Blue Shield of Tennessee’s $300 million office campus and Alstom’s $180 million plant expansion.

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

A modern metropolis, Shanghai is quickly becoming a global economic center.
Shanghai is one of the most developed cities in the People’s Republic of China and is becoming a tourist destination for its renowned historical landmarks, modern and expanding Pudong skyline (including the Oriental PearlTower) and growing reputation as a culture and design center.
With the completion of several new buildings in Lujiazui in 2008 and an additional 500,000 SM coming on the market in the first half of 2009, there will be 3.3 million SM of new Class A stock in Shanghai – bringing the total market to 15 million SM.

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

Perfect Location and Retail BoomBoost Reno Economy.
Known for years as “The Biggest Little City in theWorld” for its gambling and nightlife, Reno began to diversify its economy in the early 1980s and is now recognized as the premier distribution hub of the 11 western states.
Reno’s CBD is experiencing a renaissance, with new luxury condominiums and lofts, restaurants, retail shopping, a white-water kayak park and a new Triple A baseball park due to be completed in 2009.
Dramatic population growth has led to a number of new retailers entering the market, notably Whole Foods, Dillard’s, RCWilley, Cabela’s and a 295,000 SF Scheel’s, to name a few.

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

Pro-Business Climate, Diverse Economy GiveStrength to Oklahoma City Property Market.
Forbes Magazine recently ranked Oklahoma City as the most recession proof city in the nation, thanks to soaring energy, manufacturing, agricultural and housing industries.
A five-year economic forecast prepared for Oklahoma City indicated that the per capita income is 107% of the national average and the cost of living is only 93% of the national average.
The retail market in Oklahoma City has been strong during the past 12 months.

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

One’s loss is another’s gain. Phoenix remains the place for opportunity.
Phoenix is home to world-class hotels and resorts, trendy shopping, modern nightlife and enriching culture.
The industrial market continues to benefit as a strong distribution hub due to its proximity to delivery routes throughout the Southwest.
The office market has suffered with vacancy rates increasing and corresponding declines in rental rates, presenting tenants with lease extension/relocation opportunities like never before.

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

Research, Technology and International Trade Reduce Houston’s Dependency on Energy.
Houston’s economy is still based on energy, but to a lesser extent than in years past.
Houston’s office vacancy rates across all classes was 12% in mid-2008, and just 7.2% in the CBD.
With limited Industrial space and strong demand, Houston’s Industrial market is strong, with significant positive net absorption.

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

Pune’s Blend of Traditional and Modern Should Lead to Exponential Growth.
Pune is one of the fastest developing cities in Asia, attracting a flow of local and foreign investors in all sectors of real estate development.
Pune has more than 100 colleges and nine universities that offer undergrad, post graduate and doctoral programs in sciences, languages, social sciences, law,management and other interdisciplinary programs.

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

Seacoast City Blends Old Town Charm, Big-City Banking, Law and Import/Export Industries.
Portland is an old seacoast town, attractive for its galleries and high-end boutiques, restaurants, port location and historic districts.
After a decade of big box and power center expansion, retail expansion appears to be slowing
down.
More than 250,000 square feet of new office space was added via new construction in the last year to a total inventory of more than 12 million square feet, but the new space was predominantly build-to-suit with minimal speculative space.

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

Natural Resources, Tourism, Film/Television, Shipping and Biotech Drive Vancouver Economy.
The Greater Vancouver area, one of the largest ports on the west coast of North America, is a tourism and entertainment business center in British Columbia.
The office market in the CBD has an overall vacancy rate of 3.0%, and strong absorption is expected to drive vacancy rates to 2.5% over the next 12 months.
The industrial market continues to outperform most other Canadian industrial markets due to insufficient supply, with average vacancy rates of 2%.

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

Omaha Defies National Trends, Remains Strong Market for Commercial Real Estate.
Greater Omaha’s central location in the heartland of the United States has been an important factor in building its strong economy.
The Omaha office market has a total inventory of approximately 17 million SF, excluding owner-occupied properties.
The retail market continues to be steady.

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

Strong Transport and Big Development Plans Keep Oakland’s Horizon Looking Bright.
Oakland is the shipping transportation hub of the San Francisco Bay Area and Northern California.
Despite the industrial market being dominated by older manufacturing and warehouse buildings (built in the 1940s-1970s), vacancy has remained tight with a negligible amount of net absorption.
The Oakland office market has grown a diverse tenant base that includes professional services firms, high-tech companies, government and non-profits.

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

Prime Location, reputation for automotive, home appliance, electronics, metal fabrication and steel clusters, keeps
Monterrey thriving.
Many of Mexico’s top corporations, as well as a number of global firms, are headquartered in Monterrey.
Monterrey offers more than 40 industrial parks where industrial lease rates have not risen significantly and developer flexibility gives tenants a variety of options.
Monterrey serves as a logistics hub for much of Mexico, and recently ranked as the country’s second leading rail center.

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

Wilmington Standing Strong and Looking to Improve in Uncertain Market.
Recent surveys put Delaware at the top of the list for industrial R&D investment, high-wage trade service jobs, GDP per job and business taxes.
Wilmington’s vacancy rate recently reached its lowest point in several years.
Industrial leasing and sales throughout the County have been suffering due to a lack of supply.
Wilmington’s retail market remains strong with continued mix-use development.

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

Healthy Hub Appears Promising in Heartland.
Wichita is located directly in the center of the heartland and has a unique economy compared to the rest of the nation.
The office market has been gaining strength through the conversion of obsolete offices.
Retail rates have remained strong.
Industrial development, particularly in aircraft manufacturing, is thriving.

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

Almaty Finds Its Stride in Global Marketplace.
Despite the financial liquidity crisis of 2007, Kazakhstan’s evolving economy and support from investors have raised expectations for increased construction activity.
Almaty is seeing rising demand for Class A office space.
Kazakhstan looks forward to rapid economic development with completed construction of the Esentai Towers and Almaty Financial District.

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

Louisville’s roots are in shipping and cargo but the city more recently has emerged as a major center for health
care and medical sciences industries.
Louisville was named one of America’s 50 “hottest cities” for expansion in 2007 by Expansion Management magazine.
2007 saw the overall office vacancy rate fall from over 19% to 17% with total absorption of 800,000 SF.
The outlook for the industrial market is stable to strong in 2008.
The slowdown of the US economy has negatively impacted many national retailers.

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

Rio de Janeiro is a cultural center and the second most important economic hub in Brazil.
Fifty of the 100 largest private companies in Brazil are based in Rio de Janeiro, including the Brazilian National Bank for Projects and Development (BNDES).
Rio de Janeiro is linked to most Brazilian cities and many important South American capitals by its extensive highway system.
The demand for high quality commercial office space in Rio de Janeiro continues to improve.
Very few properties in the industrial market can be considered Class A space.

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

San Diego has a diversified economic base driven by biotechnology/life sciences, telecommunications, tourism and a large military presence.
San Diego’s coastal location, wonderful climate and quality of life have fueled steady population and economic growth since World War II.

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

A bustling cosmopolitan metropolis, Athens is central to economic, financial, industrial, political and cultural life in
Greece and is becoming a leading business center in the European Union.
The constant growth of the Greek economy has had a strong impact on the real estate market.
The office market in the CBD is mainly comprised of refurbished buildings that suit large organizations, usually public service companies that need to be in center city.
Corporate real estate clients are mainly interested in large open space of more than 1,000 SM.

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

Although Birmingham grew to prominence as a manufacturing and engineering center, its economy today is dominated by
the service sector.
Birmingham's overall high quality of life has been recognized nationally for many years.
All four submarkets in Birmingham’s office market experienced positive absorption in 2007.
Birmingham’s retail sector will benefit from competition in the grocery sector and a turn from retail power centers to mixed-use, infill development.

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

Ahmedabad is the largest inland industrial center in western India, and has historically enjoyed a reputation as an important base of commerce, trade and industry.
Ahmedabad is a mega city that has shown great progress and is becoming a bio-tech and IT hub.
The total land available for development in and around the city is approximately 115 square kilometers, offering real estate development opportunity in retail, entertainment, residential, commercial, hospitality and industrial sectors.
Ahmedabad has approximately 1,200 infrastructure projects under way and 800 in the proposal stage.

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

Bogotá is Colombia's largest economic center and is a major hub of import and export for Colombia and the Andean Community in South America.
Colombia has experienced tremendous growth in the real estate market in the last year.
A solid political system and confidence in the economy makes the Colombian market attractive and very promising to international investors.
The cities are re-organizing the economic areas.
Multifamily development continues to be Colombia’s biggest market, with Bogotá seeing the majority of new construction.

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

>> NAI Global Spotlight >>Previous Issues >> #1 - #65

                                                                       


Commercial Real Estate

""NAI Global® continues its development as a major player in the commercial real estate space by providing exceptional value to NAI clients and network members. As the world's largest managed network of commercial real estate firms, we are uniquely positioned for growth in both our services and geographic footprint. We are actively pursuing strategies to enhance our platform, yet are dedicated to the concepts of collaboration and innovation upon which the company was founded."."
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President
NAI Global




Commercial Real Estate






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