Top Commercial Real Estate Markets

8/13/2019 Top Commercial Real Estate Markets

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The Coldwell Banker Commercial brand took on the task of finding the Top

Markets for Commercial Real Estate. Over 80 markets were ranked on 2 categoriesfor each property sector (Office, Retail, Multi -Family), then 2 additional finalcategories:

1) % Change in Vacancy from Q3 2012 and Q3 2013 within the market 1

2) % Change in Rental Rates from Q3 2012 and Q3 2013 within the market 1

3) % Change in Population from Q3 2012 and Q3 2013 within the market 1

4) % Change in Unemployment from Aug 2012 and Aug 2013 within the market 2

1 source: Reis 2source: Bureau of Labor Statistics


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1 Orlando, FL

2 Portland, OR

3 Dallas, TX

4 Houston, TX

5 Minneapolis, MN

6 San Diego, CA

7 Austin, TX

8

Raleigh-

Durham, NC

9 Fort Worth, TX

10 Denver, CO

11 Orange County, CA

12 Seattle, WA

13 Charleston, SC

14 San Jose, CA

15 Palm Beach, FL

16 Charlotte, NC

17 Salt Lake City, UT

18 Las Vegas, NV

19 Phoenix, AZ

20 Oakland -East Bay, CA

21 San Antonio, TX

22 San Francisco, CA

23 Greenville, SC

24 Jacksonville, FL

25 Atlanta, GA

26 Nashville, TN

27 Fort Lauderdale, FL

28 Tacoma, WA

29 Knoxville, TN

30 Colorado Springs, CO

31 Tampa -St. Petersburg, FL

32 Columbus, OH

33 Richmond, VA

34 Tulsa, OK

35 Baltimore, MD

36 Omaha, NE

37 Indianapolis, IN

38 Miami, FL

39 Hartford, CT

40 Central New Jersey, NJ

41 Boston, MA

42 Los Angeles, CA

43 San Bernardino/Riverside, CA

44 Greensboro/Winston -Salem, NC

45 Oklahoma City, OK

46 Sacramento, CA

47 Louisville, KY

48 New York, NY

49 Norfolk/Hampton Roads, VA 50 Rochester, NY

51 Cincinnati, OH

52 Northern New Jersey, NJ

53 Ventura County, CA

54 Buffalo, NY

55 Columbia, SC

56 New Haven, CT

57 Kansas City, MO

58 Suburban Virginia, VA

59 Syracuse, NY

60 Little Rock, AR

61 Detroit, MI

62 Birmingham, AL

63 Chicago, IL

64 Memphis, TN

65 Fairfield County, CT

66 District of Columbia, DC

67 Pittsburgh, PA

68 Tucson, AZ

69 Providence, RI

70 New Orleans, LA

71 Suburban Maryland, MD

72 Lexington, KY

73 Milwaukee, WI

74 Westchester, NY

75 Philadelphia, PA

76 Wichita, KS

77 Long Island, NY 78 Albuquerque, NM

79 St. Louis, MO

80 Cleveland, OH

81 Dayton, OH

82 Chattanooga, TN

Top Commercial RE Markets Total


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Metro RetailRank MF

Rank OfficeRank

PopRank

UnempRank

CumulativeScore

FinalRank

AvailableProperties

Orlando, FL 2 10 8 6 1 27 1 View Listings Portland, OR 22 11 5 13 24 75 2 View Listings Dallas, TX 7 18 16 7 33 81 3 View Listings Houston, TX 10 4 23 9 35 81 3 View Listings Minneapolis, MN 4 16 9 34 19 82 5 View Listings San Diego, CA 18 3 28 25 9 83 6 View Listings

Austin, TX 3 40 7 2 32 84 7 View Listings Raleigh -Durham, NC 11 22 25 4 25 87 8 View Listings Fort Worth, TX 5 35 13 5 33 91 9 View Listings Denver, CO 45 24 3 11 18 101 10 View Listings

Orange County, CA 16 28 1 44 15 104 11

View Listings Seattle, WA 28 28 18 23 13 110 12 View Listings Charleston, SC 25 22 4 22 45 118 13 View Listings San Jose, CA 21 42 2 56 4 125 14 View Listings Palm Beach, FL 31 45 30 24 10 140 15 View Listings Charlotte, NC 43 29 48 3 22 145 16 View Listings Salt Lake City, UT 28 54 42 14 7 145 16 View Listings Las Vegas, NV 22 25 69 10 20 146 18 View Listings Phoenix, AZ 15 15 46 1 70 147 19 View Listings Oakland -East Bay, CA 71 1 24 49 5 150 20 View Listings

San Antonio, TX

67

14

15

8

49

153

21 View Listings

San Francisco, CA 61 33 19 36 5 154 22 View Listings Greenville, SC 66 2 13 27 50 158 23 View Listings Jacksonville, FL 78 11 50 34 3 176 24 View Listings

Atlanta, GA 49 20 42 19 47 177 25 View Listings Nashville, TN 52 25 16 17 67 177 25 View Listings Fort Lauderdale, FL 14 66 59 31 10 181 27 View Listings Tacoma, WA 72 8 44 44 13 181 27 View Listings Knoxville, TN 25 46 9 32 73 185 29 View Listings Colorado Springs, CO 64 25 53 18 29 189 30 View Listings Tampa -St. Petersburg, FL 70 17 53 50 2 192 31 View Listings Columbus, OH 33 6 38 47 73 197 32 View Listings Richmond, VA 31 48 28 39 53 199 33 View Listings Tulsa, OK 57 40 11 39 56 203 34 View Listings Baltimore, MD 20 11 56 60 57 204 35 View Listings Miami, FL 54 38 38 65 10 205 38 View Listings Omaha, NE 40 7 63 30 65 205 38 View Listings Indianapolis, IN 59 69 22 20 36 206 37 View Listings Hartford, CT 1 36 44 74 52 207 39 View Listings Central New Jersey, NJ 37 74 20 54 23 208 40 View Listings Boston, MA 17 42 11 62 77 209 41 View Listings

Top Markets: Rankings

Source: Reis
http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Orlando%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Orlando%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Portland%2C+OR#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Portland%2C+OR#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Dallas%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Dallas%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Houston%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Houston%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Minneapolis%2C+MN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Minneapolis%2C+MN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Diego%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Diego%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Austin%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Austin%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Raleigh%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Raleigh%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fort+Worth%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fort+Worth%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Denver%2C+CO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Denver%2C+CO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Orange+County%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Orange+County%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Seattle%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Seattle%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Charleston%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Charleston%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Jose%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Jose%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Palm+Beach%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Palm+Beach%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Charlotte%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Charlotte%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Salt+Lake+City%2C+UT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Salt+Lake+City%2C+UT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Las+Vegas%2C+NV#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Las+Vegas%2C+NV#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Phoenix%2C+AZ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Phoenix%2C+AZ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Oakland%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Oakland%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Antonio%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Antonio%2C+TX#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Francisco%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Francisco%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Greenville%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Greenville%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Jacksonville%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Jacksonville%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Atlanta%2C+GA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Atlanta%2C+GA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Nashville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Nashville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fort+Lauderdale%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fort+Lauderdale%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tacoma%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tacoma%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Knoxville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Knoxville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Colorado+Springs%2C+CO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Colorado+Springs%2C+CO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tampa%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tampa%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Columbus%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Columbus%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Richmond%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Richmond%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tulsa%2C+OK#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tulsa%2C+OK#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Baltimore%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Baltimore%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Miami%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Miami%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Omaha%2C+NE#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Omaha%2C+NE#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Indianapolis%2C+IN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Indianapolis%2C+IN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Hartford%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Hartford%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Trenton%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Trenton%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Boston%2C+MA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Boston%2C+MA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Boston%2C+MA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Trenton%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Hartford%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Indianapolis%2C+IN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Omaha%2C+NE#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Miami%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Baltimore%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tulsa%2C+OK#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Richmond%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Columbus%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tampa%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Colorado+Springs%2C+CO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Knoxville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tacoma%2C+WA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fort+Lauderdale%2C+FL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Nashville%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Atlanta%2C+GA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Jacksonville%2C+FL#t=0http://www.cbcworldwide.com/enhanc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San Diegos economic rebound is surpassing expectations in numerous local markets. Positive trends inunemployment, real estate, tourism and production indicate that the worst of the economic crisis may beover. Downtown is experiencing growth with new high -rise hotels and multifamily developments approvedand under construction, along with the $12.8 million expansion project scheduled for Horton Plaza withcompletion in 2015. Leading the San Diego recovery is the tourism industry, which employs over 160,000people throughout the County. San Diego is one of the top tourist destinations in Southern California and

hosts 32 million visitors each year, generating more than $8 billion annually, which translates to an economic impact ofover $18.3 billion dollars generated for the regional economy. Housing prices have increased 10%in the last year andthe unemployment rate is holding steady at 7.4%, lower than the State average of 8.9%

Brandon Sudweeks, CCIM, Coldwell Banker Commercial Sudweeks Group, San Diego, CA

San Diego, CA

Here are a few thoughts from Coldwell Banker Commercial agents on why their market is in the top 10.

Minneapolis is a city with much opportunity and a city that strives to be a leader in new health solutions,technologies, entertainment, and up -and -coming trends. Because of this, our market is appealing tobusinesses and families alike. Minneapolis holds 3 professional sports teams, a prominent downtownbusiness college, major corporate offices such as Target Corp. and US Bank, and many present and futureconstruction developments for both residential and commercial. With this brings a steady flow of new jobs,new housing opportunities and new business opportunities. The citys highly -educated and culturallyconnected workforce also create much business success. Despite the largeness of Minneapolis as a city, there still

tends to be an atmosphere of camaraderie in supporting local businesses and teaming together to make our communitybetter as a whole both economically and socially. Minneapolis bordering twin city, St. Paul, also brings a wealth ofbusiness and opportunities. The Twin Cities together house 19 Fortune 500 Cos., 4 professional sports teams, andmany major downtown companies such as those stated above for Minneapolis specific and Ecolab and SecurianFinancial in St. Paul.

Jeffrey L. LaFavre, CCIM, MCR, SIOR, Coldwell Banker Commercial Griffin Companies, Minneapolis, MN

Minneapolis, MN

Quotes from Top 10 Markets


7/32

Metro RetailRank MF

Rank OfficeRank

PopRank

UnempRank

CumulativeScore

FinalRank

AvailableProperties

Los Angeles, CA 36 59 32 52 36 215 42 View ListingSan Bernardino/Riverside, CA 63 47 64 26 15 215 42 View ListingGreensboro/Winston -Salem, NC 57 59 41 38 21 216 44 View ListingOklahoma City, OK 47 51 20 29 71 218 45 View ListingSacramento, CA 67 38 72 33 10 220 46 View ListingLouisville, KY 13 72 52 43 43 223 47 View ListingNew York, NY 45* 79 5 59 38 226 48 View ListingNorfolk/Hampton Roads, VA 11 68 70 48 31 228 49 View ListingRochester, NY 37 30 60 76 26 229 50 View ListingCincinnati, OH 25 5 79 57 66 232 51 View Listing

Northern New Jersey, NJ 9 64 62 63 38 236 52

View ListingVentura County, CA 41 54 80 46 17 238 53 View ListingBuffalo, NY 78 21 32 81 27 239 54 View ListingColumbia, SC 77 30 74 15 44 240 55 View ListingNew Haven, CT 22 53 38 70 58 241 56 View ListingKansas City, MO 44 42 37 39 81 243 57 View ListingSuburban Virginia, VA 35 62 76 11 60 244 58 View ListingSyracuse, NY 50 8 78 79 30 245 59 View ListingLittle Rock, AR 54 56 27 36 73 246 60 View ListingDetroit, MI 64 19 55 80 42 260 61 View Listing

Birmingham, AL

37

67

75

55

28

262

62

View ListingChicago, IL 41 50 26 67 78 262 62 View ListingMemphis, TN 7 56 77 42 80 262 62 View ListingFairfield County, CT 6 75 51 73 59 264 65 View ListingDistrict of Columbia, DC 53* 77 61 15 60 266 66 View ListingPittsburgh, PA 28 65 35 78 60 266 66 View ListingTucson, AZ 46 48 81 27 73 275 68 View ListingProvidence, RI 54 52 48 69 53 276 69 View ListingNew Orleans, LA 19 73 46 61 81 280 70 View ListingSuburban Maryland, MD 52 58 57 53 60 280 70 View ListingLexington, KY 76 76 58 20 51 281 72 View ListingMilwaukee, WI 62 71 32 68 48 281 72 View ListingWestchester, NY 47 70 71 63 38 289 74 View ListingPhiladelphia, PA 72 63 31 71 53 290 75 View ListingWichita, KS 69 36 67 58 67 297 76 View ListingLong Island, NY 33 80 72 75 38 298 77 View Listing

Albuquerque, NM 50 81 68 66 45 310 78 View ListingSt. Louis, MO 60 61 66 72 64 323 79 View ListingCleveland, OH 80 30 64 82 69 325 80 View ListingDayton, OH 72 82 36 77 72 339 81 View ListingChattanooga, TN 75 78 82 51 79 365 82 View Listing

Top Markets: Rankings Cont.

* -NY & Washington, DC data was not available for Retail Sector. An average of the other rankings was given so a final rank could be achieved; Source: Reis
http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Los+Angeles%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=San+Bernardino%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Greensboro%2C+NC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Oklahoma+City%2C+OK#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Sacramento%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Louisville%2C+KY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=New+York%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Norfolks%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Rochester%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Cincinnati%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Morristown%2C+NJ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Ventura+County%2C+CA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Buffalo%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Columbia%2C+SC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=New+Haven%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Kansas+City%2C+MO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Arlington%2C+VA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Syracuse%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Little+Rock%2C+AR#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Detroit%2C+MI#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Birmingham%2C+AL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Chicago%2C+IL#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Memphis%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Fairfield+County%2C+CT#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Washingin%2C+DC#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Pittsburgh%2C+PA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Tucson%2C+AZ#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Providence%2C+RI#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=New+Orleans%2C+LA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Bethesda%2C+MD#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Lexington%2C+KY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Milwaukee%2C+WI#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Westchester%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Philadelphia%2C+PA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Wichita%2C+KS#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Long+Island%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Albuquerque%2C+NM#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=St.+Louis%2C+MO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Cleveland%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Dayton%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Chattanooga%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Chattanooga%2C+TN#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Dayton%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Cleveland%2C+OH#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=St.+Louis%2C+MO#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Albuquerque%2C+NM#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Long+Island%2C+NY#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Wichita%2C+KS#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&country=US&where=Philadelphia%2C+PA#t=0http://www.cbcworldwide.com/enhanced/index.php?proptype=&what=+&count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Orange County, CA Reiss data show the Orange County general purpose, multi -tenant office market in the throes of a substantial recovery. While stillelevated relative to pre -recession levels, the vacancy rate is declining amid strong absorption and minimal speculative development.

And while current average lease rates remain well below those seen prior to the downturn, growth, albeit in modest proportion , hasreturned to rents. The markets Achilles heel in the recent downturn was the large mortgage industry tenant base, which led thesectors decline during the recession. The wound has healed: strength in the mortgage sector, reflecting the housing rebound, hasbeen a factor in the markets turnaround. Leasing has been strong and absorption numbers have been high. 1

YTD $1.1 billion in sales 55 Transactions 2

San Jose, CA Reflecting the strong local economy and the expanding high technology Business sector, the Silicon Valley general purpose,multitenant office market shows considerable strength. Demand has been strong; a new development cycle is underway. By Reisscount, net absorption through the first half of the year accompanied by 817,000 SF of new supply was 766,000 SF. While still elevated,vacancy has been declining persuasively. The rate for the second quarter was 18.8%, down 30 basis points for the period, down 110year -over -year. The positive performance seen in July - August took 20 additional points from the rate. On the other hand, majoremployers such as Google, Apple and Salesforce have already taken space sufficient to accommodate several years of growth. Rents

are high; growth has been strong. At $31.45 psf, second quarter asking averages were up 1.6% each for the period following gains ofabout 1.0% in the first quarter. Ranked the #2 market in this survey for rate change. A rapid depletion of Class A blocks of space overthe last 24 months encourages development. 1


Denver, CO According to Reis, 2013 was a break out year for the Denver area office market, citing the strong local economy, rising rents, andthe return of construction. Leasing has returned to normalnormal being pre -recession activity levels. In addition, several sourcesreport increasing employment in office -using sectors. Net absorption has been strongly positive since 2011, the vacancy rate has fallento its lowest point since early 2009, and rates of rent growth, albeit gradually, are increasing. Led by downtown Denver and areas on itsperiphery, moreover, substantial volumes of new office space were under construction and planned per the date of this report. Whilemost of the current building activity is build -to-suit, speculative development, following a prolonged absence, is beginning to reappear.While a deluge of supply is not expected, spec construction should be a visible trend in the period ahead. Investment, charged by

several major recent sales, has been very strong in recent quarters.1


Charleston, SC The Charleston area market grows tighter. Absorption has remained positive because there is a diminishing availability of qualityspace. By Reiss count, second quarter vacancy was 15.6%, down 100 basis points for the period, down 180 year -over -year. TheClass A rate, however, was considerably lower at 13.0%, a decline of fully 260 basis points for the quarter alone, a loss of 350 year -over -year. This was the #1 ranked market in this survey for change in vacancy for office. The volume of vacant Class A space hadshrunk to only 551,000 SF by the end of the quarter. Absorption, accordingly, is dominated by this sector. With no space completingconstruction through the first half of the year, total metro area net absorption was counted by Reis at 96,000 SF. The Class A total was117,000. Technology continued to be the primary driver of tenant demand Boeing has purchased the 178,000 SF Applied TechnologyResearch Center for expansion, thus displacing The South Carolina Research Authority which will be relocating its headquarters toMead Westvacos 4,500 -acre Nexton mixed -use development in Summerville for a 75,000 SF built -to-suit. 1

New York, NY The 354 -million-SF general purpose, multi -tenant Manhattan office is a moderate success by the standards of the past, but in a boommode by the standards of the present. Despite the completion of extensive new space the vacancy rate remained in the single digits inthe third quarter of 2013, and rents increased at about the same pace as has been common since the recovery began in 2011. What ismost encouraging is that the office market is solid even though the citys leading sectorfinancecontinues to downsize. Reispredicts that 17.5 million SF of new space will be added within its Manhattan submarkets from 2013 to 2017. While that wouldconstitute the largest building boom since the 1980s, it would only restore the size of the inventory to its level during the mid -1990s,and even then only if there are no more office -to-residential or hotel conversions. 1


Sources: 1 -Reis; 2 -Real Capital Analytics

Top 5 Ranked Office Markets


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Metro Q3 2013Vac % % Change

Q3 12 - Q3 13 Vac

Rank AskingRent $

%Change RentQ3 12 - Q3 13

RateRank

FinalRank

Orange County, CA 17.3 -8.95% 4 $27.45 2.20% 9 1 San Jose, CA 18.6 -5.10% 18 $31.68 5.28% 2 2 Denver, CO 17.5 -6.91% 11 $22.14 1.98% 12 3 Charleston, SC 15.3 -10.53% 1 $21.49 1.42% 23 4 New York, NY 9.7 -3.96% 24 $61.16 4.62% 3 5 Portland, OR 13.6 -8.72% 5 $21.84 1.58% 22 5

Austin, TX 16.4 -4.09% 23 $26.58 2.47% 6 7 Orlando, FL 18.2 -4.71% 21 $21.43 2.05% 10 8 Minneapolis, MN 17.3 -4.95% 19 $22.33 1.64% 19 9 Knoxville, TN 14.3 -10.06% 3 $16.02 1.14% 35 9

Boston, MA 13.9 -3.47% 26 $37.04 1.95% 14 11 Tulsa, OK 17.2 -7.03% 10 $14.79 1.23% 30 11 Greenville, SC 19.2 -3.03% 31 $16.85 2.00% 11 13 Fort Worth, TX 16.3 -5.23% 17 $19.63 1.39% 25 13 San Antonio, TX 18.0 -5.26% 16 $20.25 1.20% 31 15 Dallas, TX 23.1 -1.28% 43 $20.26 3.16% 5 16 Nashville, TN 12.8 -7.25% 8 $20.33 0.99% 40 16 Seattle, WA 13.7 -2.84% 33 $29.86 1.88% 16 18 San Francisco, CA 13.3 -0.75% 49 $43.69 7.72% 1 19 Central New Jersey, NJ 21.8 -5.63% 15 $23.98 1.05% 37 20

Oklahoma City, OK 16.8 -10.16% 2 $15.00 0.81% 50 20

Indianapolis, IN 19.2 -5.88% 14 $17.91 1.02% 39 22 Houston, TX 14.2 -0.70% 50 $25.67 4.35% 4 23 Oakland -East Bay, CA 17.9 -3.24% 29 $26.26 1.27% 28 24 Raleigh -Durham, NC 15.1 -6.79% 12 $20.38 0.84% 47 25 Chicago, IL 18.7 0.00% 54 $27.98 2.30% 7 26 Little Rock, AR 12.2 -7.58% 7 $15.79 0.77% 55 27 San Diego, CA 16.3 -2.98% 32 $28.59 1.20% 31 28 Richmond, VA 14.8 -3.27% 28 $18.57 1.14% 35 28 Palm Beach, FL 19.1 -5.91% 13 $28.40 0.78% 54 30

Philadelphia, PA

14.1 -

7.24%

9

$24.79 0.65%

59

31

Los Angeles, CA 15.8 0.00% 54 $32.76 1.64% 18 32 Milwaukee, WI 18.8 -1.05% 46 $19.11 1.38% 26 32 Buffalo, NY 14.2 -8.39% 6 $17.02 0.41% 66 32 Pittsburgh, PA 15.7 1.29% 61 $21.13 1.98% 12 35 Dayton, OH 26.6 -2.56% 34 $14.62 0.97% 41 36 Kansas City, MO 17.3 0.00% 54 $19.27 1.42% 23 37 Columbus, OH 18.7 1.08% 59 $18.09 1.63% 20 38 New Haven, CT 17.8 -2.20% 36 $20.83 0.92% 43 38 Miami, FL 16.9 -3.43% 27 $30.45 0.79% 52 38 Greensboro/Winston -Salem, NC 20.9 -1.88% 40 $16.42 0.92% 43 41

Top Markets: OFFICE RANKS

Source: Reis


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14/32

Retail


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1

Hartford, CT

2 Orlando, FL

3 Austin, TX

4 Minneapolis, MN

5 Fort Worth, TX


7 Dallas, TX

7 Memphis, TN


10 Houston, TX

11 Norfolk/Hampton Roads, VA

11 Raleigh -Durham, NC

13 Louisville, KY


15 Phoenix, AZ


17 Boston, MA

18 San Diego, CA

19 New Orleans, LA

20 Baltimore, MD

21 San Jose, CA

22 Las Vegas, NV

22 New Haven, CT

22 Portland, OR

25 Charleston, SC

25 Cincinnati, OH

25 Knoxville, TN

28 Pittsburgh, PA


28 Seattle, WA

31 Palm Beach, FL

31 Richmond, VA

33 Columbus, OH

33 Long Island, NY


36 Los Angeles, CA

37 Birmingham, AL


37 Rochester, NY

40 Omaha, NE

41 Chicago, IL


43 Charlotte, NC 44 Kansas City, MO

45 Denver, CO

46 Tucson, AZ


47 Westchester, NY

49 Atlanta, GA

50 Albuquerque, NM

50 Syracuse, NY

52 Nashville, TN


54 Little Rock, AR

54 Miami, FL

54 Providence, RI

57 Greensboro/Winston -Salem, N

57 Tulsa, OK

59 Indianapolis, IN

60 St. Louis, MO


62 Milwaukee, WI



64 Detroit, MI

66 Greenville, SC

67 Sacramento, CA

67 San Antonio, TX

69 Wichita, KS



72 Dayton, OH

72 Philadelphia, PA

72 Tacoma, WA

75 Chattanooga, TN

76 Lexington, KY

77 Columbia, SC

78 Buffalo, NY

78 Jacksonville, FL

80 Cleveland, OH

Top Commercial RE Markets Retail


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Hartford, CT The 14.5 -million SF Hartford MSA community -neighborhood shopping center market continued to benefit from incremental improvementthrough two -thirds of 2013. No space of this type has completed construction within Reis submarkets since 2010, and none is under

construction. With net absorption at 73,000 SF for 2013 through August, the vacancy rate is down 50 basis points year -to date to 9.5%.The average asking rent increased 0.6% in the second quarter to $17.55 psf. This was the #2 ranked market for rate increase. Additionalincreases through August brought the gain to 1.1% asking year -to-date. Reis reports a vacancy rate of 6.4% for power centers, down 30basis points from the prior quarter and 140 from a year earlier. The average asking rent for power centers is $22.31 psf, up 0.5% for thequarter and 2.2% year -over -year. 1

$248 million in sales 8 Transactions 2

Orlando, FL The sharp recession related cutbacks in residential construction and the collapse of the housing market brought a period of difficulty tothe local retail real estate market. Vacancy in the community -neighborhood shopping center retail sector, which peaked at 14.0% asrecently as the third quarter of 2012, has only recently begun to subside. By the end of the second quarter of 2013 the level had droppedto 13.1%, a loss of 50 basis points for the quarter alone, a decline of 80 since year -end. This made Orlando the #2 market in % drop inVacancy. The source of the progress in occupancy since last year was the persistence of positive net absorption in the presence of nonew supply deliveries. The absorption total for the first half of 2013 was 252,000 SF. The total for the second quarter alone was 170,000SF. Growth, at last, has returned to average rents. At $17.62 psf asking averages for the second quarter were up 0.6% for the periodfollowing gains of 1.0% for each rate the quarter before. Recent construction, meanwhile, has been dominated by small neighborhoodcenter projects. As of mid -year, Reis was reporting 4.9 million SF of retail space in the planned -proposed pipeline across all productcategories. 1


Austin, TX Vacancy is leveling off at a moderate level in Austins 20.7 -million-SF community -neighborhood shopping center market, but rent gainsremain modest. The rate was 6.7% during the second quarter, down 20 basis points for the period as net absorption totaled 81,000 SFand two neighborhood center projects added 58,000 SF within Reis submarkets. After a flat first quarter, rents increased 0.7% in thesecond quarter. The second quarter asking average was $20.44 psf. Community -neighborhood center development is expected toremain limited, as there is no space currently under construction. Rent gains, however, are expected to pick up. Big -box and mixed -usedevelopments are all the rage in Austin retail. The latest new construction data show three power center projects under construction with1.9 million SF, three mixed -use projects with 883,400 SF of retail, and three freestanding stores totaling 314,700 SF. For power centers,Reis reports a relatively high second quarter vacancy rate of 7.6%, down 120 basis points from the prior quarter and 100 from a yearearlier. The average asking rent for power centers is $24.34 psf, up 0.4% for the quarter and 0.6% from a year earlier. 1


Minneapolis, MN The 33.6 -million SF Minneapolis community neighborhood shopping center market is in balance as of mid -2013, but only due to a nearabsence of new supply. The vacancy rate fell 20 basis points to 11.1% in the second quarter, when year -to-date net absorption reached164,000 SF. The 10,800 -SF Crossroads Plaza neighborhood center completed construction in Hopkins in April, leaving 213,700 SF ofcommunity -neighborhood center space under construction in six projects. The average asking rent increased 0.3% during the quarter, to$17.80 psf. The rate is forecast at 10.8% at year -end 2013, down 70 basis points over the year. 1

$612 million in sales 43 Transactions2

Fort Worth, TX The 28.5 -million SF Fort Worth community -neighborhood shopping center market enjoyed positive trends in the first half of 2013, despitecompetition from the big -box sector. The second quarter 2013 vacancy rate was 12.0%, down 60 basis points from the end of 2012 on179,000 SF of net absorption and no new supply. The second quarter saw community -neighborhood center rents rise up 0.8%, to $14.51psf asking, an unusually large quarterly increase. Rents had increased just 1.0% asking during all of 2012. Reis, however, expects thevacancy rate to fall to 11.7% by the end of 2013, with rent gains coming in at 1.5% asking for the year. The power center vacancy rate is6.2% for the second quarter of 2013, down 80 basis points from the prior quarter and 180 from a year earlier, so the big - box segment isstarting to get tight. 1


Top 5 Ranked Retail Markets


17/32


Q3 12 - Q3 13 Vac

Rank AskingRent $


RateRank

FinalRank

Hartford, CT 10.4 -6.73% 8 $17.24 2.44% 2 1 Orlando, FL 14.0 -9.29% 2 $17.34 1.85% 10 2

Austin, TX 7.2 -8.33% 3 $20.18 1.73% 16 3 Minneapolis, MN 11.5 -5.22% 15 $17.53 2.00% 7 4 Fort Worth, TX 13.1 -6.87% 5 $14.30 1.54% 19 5 Fairfield County, CT 4.0 -5.00% 19 $27.81 2.05% 6 6 Memphis, TN 13.1 -7.63% 4 $13.41 1.34% 24 7 Dallas, TX 14.2 -5.63% 14 $16.47 1.76% 14 7 Northern New Jersey, NJ 5.9 -10.17% 1 $27.86 1.01% 34 9 Houston, TX 12.5 -3.20% 32 $16.04 2.18% 4 10

Norfolk/Hampton Roads, VA 10.4 -4.81% 20 $14.91 1.54% 18 11

Raleigh -Durham, NC 9.5 -3.16% 33 $17.57 2.16% 5 11 Louisville, KY 10.5 -6.67% 9 $15.67 1.08% 31 13 Fort Lauderdale, FL 10.9 -2.75% 39 $18.78 1.86% 9 14 Phoenix, AZ 11.6 -5.17% 17 $18.62 1.02% 33 15 Orange County, CA 5.8 -3.45% 29 $30.70 1.43% 22 16 Boston, MA 6.9 -4.35% 24 $21.83 1.19% 29 17 San Diego, CA 6.4 -3.13% 34 $28.38 1.41% 23 18 New Orleans, LA 11.9 -1.68% 49 $14.89 1.81% 11 19 Baltimore, MD 7.4 -6.76% 7 $21.42 0.61% 54 20

San Jose, CA

5.9 -

1.69%

48

$30.82 1.75%

15

21

Portland, OR 8.7 -5.75% 13 $20.15 0.65% 51 22 Las Vegas, NV 13.0 -3.85% 26 $20.93 0.91% 38 22 New Haven, CT 12.5 0.00% 63 $16.13 2.54% 1 22 Charleston, SC 11.6 -6.03% 10 $13.44 0.60% 55 25 Knoxville, TN 11.1 -4.50% 22 $13.96 0.79% 43 25 Cincinnati, OH 13.9 -4.32% 25 $14.69 0.88% 40 25 Salt Lake City, UT 13.3 -6.77% 6 $16.06 0.44% 60 28 Seattle, WA 7.0 -2.86% 38 $22.96 1.26% 28 28 Pittsburgh, PA 8.0 0.00% 63 $16.14 2.42% 3 28 Richmond, VA 9.7 -3.09% 35 $15.94 0.94% 35

31

Palm Beach, FL 12.2 -0.82% 62 $21.35 1.97% 8 31 Columbus, OH 16.0 -1.88% 45 $12.65 1.11% 30 33 Long Island, NY 5.3 0.00% 63 $25.53 1.80% 12 33 Suburban Virginia, VA 6.9 -5.80% 12 $27.81 0.32% 65 35 Los Angeles, CA 6.1 -1.64% 51 $29.13 1.27% 27 36 Rochester, NY 13.0 -3.85% 26 $12.91 0.62% 53 37 Birmingham, AL 15.3 -1.31% 54 $14.57 1.30% 25 37 Central New Jersey, NJ 10.2 -0.98% 58 $22.25 1.48% 21 37 Omaha, NE 9.1 -3.30% 31 $13.66 0.73% 49 40

Top Markets: Retail RANKS

Source: Reis


18/32


Q3 12 - Q3 13 Vac

Rank AskingRent $


RateRank

FinalRank

Ventura County, CA 9.1 -4.40% 23 $28.62 0.49% 58 41 Chicago, IL 11.6 -3.45% 29 $19.07 0.63% 52 42 Charlotte, NC 10.3 -2.91% 37 $17.93 0.78% 45 43 Kansas City, MO 12.0 -5.83% 11 $14.09 0.07% 72 44 Denver, CO 11.8 -0.85% 60 $16.88 1.30% 25 45 Tucson, AZ 9.9 -3.03% 36 $16.76 0.66% 50 46 Westchester, NY 8.0 -1.25% 55 $35.76 1.03% 32 47 Oklahoma City, OK 13.7 1.46% 74 $11.35 1.76% 13 48

Atlanta, GA 14.2 -2.11% 42 $17.21 0.76% 47 49 Syracuse, NY 15.5 -5.16% 18 $12.55 -0.16% 75 50

Albuquerque, NM 11.3 0.88% 73 $14.41 1.53% 20 51

Nashville, TN 8.7 -4.60% 21 $15.39 0.06% 73 52 Suburban Maryland, MD 9.0 -1.11% 56 $25.18 0.91% 38 53 Providence, RI 13.5 -5.19% 16 $21.00 -0.43% 79 54 Miami, FL 7.2 -1.39% 53 $24.27 0.82% 42 55 Little Rock, AR 12.1 4.96% 78 $12.49 1.68% 17 56 Tulsa, OK 17.0 -3.53% 28 $11.19 0.27% 68 57 Greensboro/Winston -Salem,NC 11.7

-0.85% 59 $14.06 0.92% 37 58

Indianapolis, IN 15.2 -1.97% 43 $14.58 0.48% 59 59 St. Louis, MO 12.9 -2.33% 40 $14.71 0.34% 63 60 San Francisco, CA 3.9 0.00% 63 $32.86 0.85% 41 61 Milwaukee, WI 12.8 0.78% 71 $15.06 0.93% 36 62 San Bernardino/Riverside, CA 10.2 -1.96% 44 $20.57 0.29% 67 63 Detroit, MI 12.0 -1.67% 50 $16.92 0.35% 62 64 Colorado Springs, CO 15.5 0.65% 69 $13.89 0.79% 43 65 Greenville, SC 14.0 -1.43% 52 $11.79 0.34% 63 66 San Antonio, TX 11.5 -1.74% 47 $14.90 0.20% 70 67 Sacramento, CA 12.4 0.81% 72 $21.81 0.78% 45 68 Wichita, KS 13.3 -2.26% 41 $12.08 -0.41% 78 69 Tampa -St. Petersburg, FL 11.8 0.00% 63 $14.24 0.56% 57 70

Oakland -East Bay, CA 6.2 1.61% 76 $27.93 0.75% 48 71 Dayton, OH 16.5 -1.82% 46 $10.65 -0.47% 80 72 Philadelphia, PA 9.6 -1.04% 57 $19.83 0.25% 69 73 Tacoma, WA 11.9 -0.84% 61 $18.60 0.32% 65 74 Chattanooga, TN 14.2 7.75% 80 $12.35 0.57% 56 75 Lexington, KY 8.1 6.17% 79 $13.93 0.43% 60 76 Columbia, SC 11.4 0.00% 63 $12.33 -0.41% 77 77 Buffalo, NY 13.8 0.72% 70 $12.05 -0.25% 76 78 Jacksonville, FL 12.8 1.56% 75 $15.26 0.13% 71 79 Cleveland, OH 14.7 3.40% 77 $14.95 -0.07% 74 80

Top Markets: Retail Cont. RANKS

Source: Reis


19/32


20/32


21/32

Oakland - East Bay, CA Vacancy is rock bottom and falling in the 146,345 -unit Oakland - East Bay apartment. The second quarter vacancy rate was 2.8%, down10 basis points from the prior quarter. The Class A vacancy rate was tight at 3.3% but up 10 basis points for the second quarter, while

the Class B/C segment was tighter at 2.5%, down 20 basis points. More than two -thirds of the inventory is Class B/C, and the Class B/Cinventory fell 101 units in the second quarter due to conversion. Net absorption and new supply year -to-date through that month were609 units and zero. Reis reports 2,066 units under construction. Rent gains are slowing despite slow vacancy. During the second quarterof 2013 the average asking rent rose 0.7% to $1,450 per month. 1

Greenville, SC Vacancy is low and rent gains are accelerating in the 34,530 -unit Greenville area apartment market. The third quarter vacancy rate is4.5%, unchanged from the second quarter but down 40 basis points from the fourth quarter of 2012. Vacancy held steady despite thecompletion of three projects with 850 units during the third quarter: the 346 -unit The Aventine at Greenville, the 260 -unit Springs atGreenville, and the 244 -unit The Vinings at Icar Apartments, all located in the South Greenfield submarket. Prior to that surge of newsupply, the second quarter vacancy rate for Class A space was 4.7%, down from 5.6% a year earlier. Class B/C vacancy was 4.2%,down 120 basis points. New supply is forecast to slow after the banner year of 2013, with an average of just 314 new units per year from2014 to 2017, but net absorption is forecast to slow as well. New units pushed up the average asking rent, which increased 1.7% duringthe third quarter to $696 per month. That was a gain of 2.7% for the first three quarters of 2013 combined. 1

San Diego, CA The 181,326 -unit market -rate, investment -grade San Diego apartment market continues to experience extremely low vacancy and solidquarterly rental growth. San Diegos third quarter 2013 vacancy rate was 2.3%, according to Reis, down 20 basis points from the priorquarter and down 70 from 12 months earlier. Vacancy averaged 3.8% from 2008 to 2012, so this market is extremely tight. Vacancyrates at or below 5.0% are generally considered to indicate a full market. San Diego has one of the highest occupancy rates in thecountry, at 97.7%. San Diego has the fifth highest concentration of people between the ages of 25 to 35 (largest renter age cohort) in thecountry, over 484,000 total. Today, nearly half of the households in San Diego county are renting. The third quarter saw 283 units of netabsorption, Reis reports, a healthy figure which brings the year -to-date total to 1,238. The net absorption total for 2012 was 1,584 units,so 2013 is shaping up as a strong year for demand. Third quarter rent gains were substantial once again, and year over -year gains weralso strong, according to Reis. The average asking rent increased 0.7% to $1,430 per month. The year -over -year gains are 2.7%. 1

$1.3 billion in sales 86 Transactions 2

Houston, TX An avalanche of new supply is descending on the Houston apartment sector as the market, free of impediments due to the recession andriding on the back of robust economic and demographic trends, moves into a defining phase of its new cycle. Indeed, more than 4,300market -rate apartments completed construction metrowide year -to-date as of mid - August even as some 15,500 others remained underconstruction, a large portion of which will arrive on line by the end of the year in a rapidly accelerating succession of deliveries. Demand,a driving factor, remains strong. While robust development and leasing activities are indicated for much of the metro area, the EnergyCorridor on the west side (and west side submarkets generally), home to much of Houstons oil and gas business, will see the highestactivity levels. The vacancy rate reached its cyclical peak at 12.9% during the first quarter of 2010. At that point, a robust recoverycommenced. It led, before long, to the heated expansion cycle now underway. Vacancy tells the tale: by the end of the latest quarter therate had descended to 6.6%, a decline of 20 basis points for the period, a loss of 110 year -over -year. Moderately positive in 2010, a littleslower in 2011, rent growth soared in 2012 with gains of 4.7% indicated for the asking averages. 1

$3.5 billion in sales 170 Transactions 2

Cincinnati, OH The Vacancy in the 106,296 -unit Cincinnati apartment market posted another drop in the second quarter, falling 30 basis points to 3.5%.That rate is down 120 basis points from 12 months earlier. Class A vacancy finished the quarter at 3.3%, down 40 basis points over thequarter, while Class B/C vacancy was 3.6%, down 30 basis points from the prior quarter. Cincinnati is still a very tight multifamily market,with net absorption running ahead of demand. From 2008 to 2012, about 2,500 units were completed, but net absorption was over 5,000during that time span. Reiss latest construction data lists 592 units completing in five projects so far in 2013, with net absorption at 994units. Vacancy is forecast to finish 2013 at 3.4%. Reis reports second quarter average asking rents of $754 per month, up 0.5% for thequarter, and up 2.2% over 12 months. 1



Top 5 Ranked Multi - Family Markets


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Q3 12 - Q3 13 Vac

Rank AskingRent $


RateRank

FinalRank

Oakland -East Bay, CA 2.6 -18.75% 10 $1,478 4.30% 5 1 Greenville, SC 4.5 -18.18% 12 $696 3.42% 12 2 San Diego, CA 2.3 -23.33% 3 $1,430 2.73% 27 3 Houston, TX 6.4 -15.79% 26 $866 4.21% 6 4 Cincinnati, OH 3.5 -23.91% 2 $760 2.56% 33 5 Columbus, OH 4.6 -19.30% 8 $740 2.64% 29 6 Omaha, NE 3.1 -16.22% 24 $751 3.16% 17 7 Tacoma, WA 4.1 -21.15% 4 $812 2.40% 39 8 Syracuse, NY 2.1 -25.00% 1 $741 2.35% 42 8 Orlando, FL 5.1 -15.00% 33 $925 3.24% 14 10

Portland, OR 3.0 -11.76% 41 $916 3.85% 9 11

Baltimore, MD 3.6 -12.20% 37 $1,095 3.30% 13 11 Jacksonville, FL 6.8 -17.07% 18 $837 2.57% 32 11 San Antonio, TX 5.6 -12.50% 35 $780 3.17% 16 14 Phoenix, AZ 5.4 -16.92% 19 $796 2.45% 35 15 Minneapolis, MN 2.2 -12.00% 39 $1,039 3.08% 18 16 Tampa -St. Petersburg, FL 4.5 -18.18% 12 $887 2.31% 46 17 Dallas, TX 5.0 -12.28% 36 $895 2.87% 23 18 Detroit, MI 3.8 -17.39% 16 $880 2.33% 44 19

Atlanta, GA 6.2 -15.07% 32 $894 2.64% 29 20

Buffalo, NY

2.7 -

20.59%

5

$778 2.10%

56

21

Charleston, SC 4.5 -8.16% 51 $839 3.58% 11 22 Raleigh -Durham, NC 3.9 -15.22% 31 $874 2.58% 31 22 Denver, CO 3.7 -7.50% 56 $992 4.20% 7 24 Nashville, TN 4.3 -6.52% 61 $828 4.68% 3 25 Colorado Springs, CO 3.8 -15.56% 27 $758 2.43% 37 25 Las Vegas, NV 5.5 -20.29% 6 $841 2.06% 58 25 Seattle, WA 4.1 -4.65% 65 $1,180 6.98% 1 28 Orange County, CA 3.1 -11.43% 42 $1,626 2.85% 24 28 Charlotte, NC 4.8 -11.11% 44 $868 2.84% 25 29 Cleveland, OH 3.3 -15.38% 29 $777 2.37% 41 30 Columbia, SC 6.7 -16.25% 23 $761 2.28% 47 30 Rochester, NY 3.0 -16.67% 20 $825 2.23% 50 30 San Francisco, CA 3.1 -3.13% 67 $2,113 4.35% 4 33 Fort Worth, TX 5.1 -10.53% 45 $776 2.65% 28 35 Wichita, KS 4.4 -8.33% 50 $554 2.78% 26 36 Hartford, CT 2.8 -17.65% 14 $1,042 1.96% 62 36 Miami, FL 3.9 -4.88% 63 $1,157 3.21% 15 38 Sacramento, CA 3.4 -19.05% 9 $972 1.89% 69 38

Austin, TX 4.4 0.00% 71 $972 3.96% 8 40 Tulsa, OK 5.9 -13.24% 34 $618 2.32% 45 40

Top Markets: Multi - Family RANKS

Source: Reis


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Population


25/32

1

Phoenix, AZ

2 Austin, TX

3 Charlotte, NC

4 Raleigh - Durham, NC

5 Fort Worth, TX

6 Orlando, FL

7 Dallas, TX

8

San Antonio, TX

9 Houston, TX

10 Las Vegas, NV

11 Denver, CO


13 Portland, OR


15 Columbia, SC


17 Nashville, TN


19 Atlanta, GA

20 Indianapolis, IN

20 Lexington, KY

22 Charleston, SC 23 Seattle, WA

24 Palm Beach, FL

25 San Diego, CA


27 Greenville, SC

27 Tucson, AZ


30 Omaha, NE


32 Knoxville, TN

33 Sacramento, CA

34 Jacksonville, FL

34 Minneapolis, MN

36 Little Rock, AR



39 Kansas City, MO

39 Richmond, VA

39 Tulsa, OK

42 Memphis, TN 43 Louisville, KY


44 Tacoma, WA


47 Columbus, OH




51 Chattanooga, TN

52 Los Angeles, CA



55 Birmingham, AL

56 San Jose, CA

57 Cincinnati, OH

58 Wichita, KS

59 New York, NY

60 Baltimore, MD

61 New Orleans, LA

62 Boston, MA


63 Westchester, NY

65 Miami, FL

66 Albuquerque, NM

67 Chicago, IL

68 Milwaukee, WI

69 Providence, RI

70 New Haven, CT

71 Philadelphia, PA

72 St. Louis, MO


74 Hartford, CT

75 Long Island, NY

76 Rochester, NY

77 Dayton, OH

78 Pittsburgh, PA

79 Syracuse, NY

80 Detroit, MI

81 Buffalo, NY

82 Cleveland, OH

Top Commercial RE Markets Population


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Metro Population %Change PopQ3 12 - Q3 13 Pop

Rank

Phoenix, AZ 4,473,340 2.89% 1

Austin, TX 1,894,800 2.62% 2 Charlotte, NC 1,880,810 2.22% 3 Raleigh -Durham, NC 1,761,700 2.20% 4 Fort Worth, TX 2,270,580 2.05% 5 Orlando, FL 2,280,330 2.02% 6 Dallas, TX 4,542,610 2.00% 7 San Antonio, TX 2,289,320 1.97% 8 Houston, TX 6,355,060 1.94% 9 Las Vegas, NV 2,046,290 1.82% 10

Denver, CO 2,701,560

1.70%

11

Suburban Virginia, VA 2,805,390 1.70% 11 Portland, OR 2,338,200 1.69% 13 Salt Lake City, UT 1,758,110 1.58% 14 Columbia, SC 798,950 1.44% 15 District of Columbia, DC 644,160 1.44% 15 Nashville, TN 1,673,980 1.41% 17 Colorado Springs, CO 680,400 1.40% 18

Atlanta, GA 5,526,270 1.32% 19 Indianapolis, IN 1,828,110 1.29% 20 Lexington, KY 492,850 1.29%

20

Charleston, SC 708,380 1.24% 22 Seattle, WA 2,780,350 1.15% 23 Palm Beach, FL 1,375,680 1.14% 24 San Diego, CA 3,221,530 1.13% 25 San Bernardino/Riverside, CA 4,408,930 1.10% 26 Greenville, SC 1,146,870 1.07% 27 Tucson, AZ 1,004,340 1.07% 27 Oklahoma City, OK 1,313,870 1.05% 29 Omaha, NE 898,110 1.04% 30 Fort Lauderdale, FL 1,838,010 1.02% 31 Knoxville, TN 718,830 1.01% 32 Sacramento, CA 2,223,920 1.00% 33 Jacksonville, FL 1,395,180 0.99% 34 Minneapolis, MN 3,396,360 0.99% 34 Little Rock, AR 725,930 0.97% 36 San Francisco, CA 1,843,610 0.97% 36 Greensboro/Winston -Salem, NC 1,389,020 0.92% 38 Kansas City, MO 2,088,200 0.91% 39 Richmond, VA 1,297,180 0.91% 39 Tulsa, OK 962,970 0.91% 39

Top Markets: Population RANKS

Source: Reis


27/32

Metro Population %Change PopQ3 12 - Q3 13 Pop

Rank

Memphis, TN 1,348,110 0.90% 42 Louisville, KY 1,315,660 0.89% 43 Orange County, CA 3,124,020 0.86% 44 Tacoma, WA 820,500 0.86% 44 Ventura County, CA 844,390 0.80% 46 Columbus, OH 1,896,520 0.77% 47 Norfolk/Hampton Roads, VA 1,711,190 0.74% 48 Oakland -East Bay, CA 2,658,120 0.71% 49 Tampa -St. Petersburg, FL 2,863,690 0.69% 50 Chattanooga, TN 542,420 0.68% 51

Los Angeles, CA 10,046,350 0.65% 52

Suburban Maryland, MD 2,383,700 0.64% 53 Central New Jersey, NJ 2,748,890 0.59% 54 Birmingham, AL 1,144,220 0.57% 55 San Jose, CA 1,907,940 0.56% 56 Cincinnati, OH 2,157,750 0.53% 57 Wichita, KS 632,180 0.51% 58 New York, NY 8,805,330 0.50% 59 Baltimore, MD 2,769,160 0.46% 60 New Orleans, LA 1,211,730 0.42% 61

Boston, MA 4,240,990 0.40%

62

Northern New Jersey, NJ 4,253,690 0.39% 63 Westchester, NY 965,870 0.39% 63 Miami, FL 2,600,790 0.38% 65

Albuquerque, NM 905,070 0.35% 66 Chicago, IL 7,976,020 0.32% 67 Milwaukee, WI 1,571,790 0.24% 68 Providence, RI 1,605,750 0.23% 69 New Haven, CT 864,530 0.20% 70 Philadelphia, PA 5,317,990 0.19% 71 St. Louis, MO 2,851,930 0.17% 72 Fairfield County, CT 935,700 0.12% 73 Hartford, CT 1,215,140 0.10% 74 Long Island, NY 2,850,180 0.06% 75 Rochester, NY 1,056,940 0.01% 76 Dayton, OH 979,970 0.00% 77 Pittsburgh, PA 2,358,780 -0.02% 78 Syracuse, NY 660,430 -0.05% 79 Detroit, MI 4,439,210 -0.07% 80 Buffalo, NY 1,130,910 -0.23% 81 Cleveland, OH 2,054,050 -0.36% 82

Top Markets: Population Cont. RANKS

Source: Reis


28/32

Unemployment


29/32

1

Orlando, FL

2 Tampa - St. Petersburg, FL

3 Jacksonville, FL

4 San Jose, CA

5 Oakland - East Bay, CA

5 San Francisco, CA


8

Palm Beach, FL

9 San Diego, CA

10 Sacramento, CA


11 Miami, FL

13 Seattle, WA

13 Tacoma, WA




18 Denver, CO

19 Minneapolis, MN

20 Las Vegas, NV


22

Charlotte, NC


24 Portland, OR

25 Raleigh -Durham, NC

26 Rochester, NY

27 Buffalo, NY

28 Birmingham, AL


30 Syracuse, NY


32 Austin, TX

33 Dallas, TX

33 Fort Worth, TX

35 Houston, TX

36 Indianapolis, IN

36 Los Angeles, CA

38 Long Island, NY

38 New York, NY


38 Westchester, NY

42 Detroit, MI 43 Louisville, KY

44 Columbia, SC

45 Albuquerque, NM

45 Charleston, SC

47 Atlanta, GA

48 Milwaukee, WI

49 San Antonio, TX

50 Greenville, SC

51 Lexington, KY

52 Hartford, CT

53 Philadelphia, PA

53 Providence, RI

53 Richmond, VA

56 Tulsa, OK

57 Baltimore, MD

58 New Haven, CT



60 Pittsburgh, PA



64 St. Louis, MO

65 Omaha, NE

66 Cincinnati, OH

67 Nashville, TN

67 Wichita, KS

69 Cleveland, OH

70 Phoenix, AZ


72 Dayton, OH

73 Columbus, OH

73 Knoxville, TN

73 Little Rock, AR

73 Tucson, AZ

77 Boston, MA

78 Chicago, IL

79 Chattanooga, TN

80 Memphis, TN

81 Kansas City, MO

81 New Orleans, LA

Top Commercial RE Markets Unemployment


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Metro MSA Aug 12Unemp Aug 13Unemp

Changein Unemp

UnempRank

Orlando, FL Orlando -Kissimmee -Sanford, FL 8.6 6.6 -23.26% 1 Tampa -St. Petersburg, FL Tampa -St. Petersburg -Clearwater, FL 9.1 7 -23.08% 2 Jacksonville, FL Jacksonville, FL 8.6 6.7 -22.09% 3 San Jose, CA San Jose -Sunnyvale -Santa Clara, CA 8.7 6.8 -21.84% 4 Oakland -East Bay, CA San Francisco -Oakland -Fremont, CA 8.3 6.5 -21.69% 5 San Francisco, CA San Francisco -Oakland -Fremont, CA 8.3 6.5 -21.69% 5 Salt Lake City, UT Salt Lake City, UT 5.7 4.5 -21.05% 7 San Diego, CA San Diego -Carlsbad -San Marcos, CA 9.2 7.4 -19.57% 8 Sacramento, CA Sacramento -- Arden - Arcade --Roseville, CA 10.4 8.5 -18.27% 9 Fort Lauderdale, FL Miami-Fort Lauderdale -Pompano Beach, FL 8.9 7.3 -17.98% 10

Miami, FL Miami-Fort Lauderdale -Pompano Beach, FL 8.9 7.3 -17.98% 10 Palm Beach, FL Miami-Fort Lauderdale -Pompano Beach, FL 8.9 7.3 -17.98% 10 Seattle, WA Seattle -Tacoma -Bellevue, WA 7.4 6.1 -17.57% 13 Tacoma, WA Seattle -Tacoma -Bellevue, WA 7.4 6.1 -17.57% 13 Orange County, CA Riverside -San Bernardino -Ontario, CA 12.6 10.4 -17.46% 15 San Bernardino/Riverside, CA Riverside -San Bernardino -Ontario, CA 12.6 10.4 -17.46% 15 Ventura County, CA Riverside -San Bernardino -Ontario, CA 12.6 10.4 -17.46% 17 Denver, CO Denver - Aurora -Broomfield, CO 7.8 6.5 -16.67% 18 Minneapolis, MN Minneapolis -St. Paul -Bloomington, MN -WI 5.6 4.7 -16.07% 19 Las Vegas, NV Las Vegas -Paradise, NV 11.4 9.6 -15.79% 20 Greensboro/Winston -Salem, NC Greensboro -High Point, NC 10.2 8.6 -15.69%

21

Charlotte, NC Charlotte -Gastonia -Rock Hill, NC -SC 9.8 8.3 -15.31% 22 Central New Jersey, NJ Trenton -Ewing, NJ 8.1 6.9 -14.81% 23 Portland, OR Portland -Vancouver -Hillsboro, OR -WA 8.3 7.1 -14.46% 24 Raleigh -Durham, NC Raleigh -Cary, NC 7.9 6.8 -13.92% 25 Rochester, NY Rochester, NY 8 6.9 -13.75% 26 Buffalo, NY Buffalo -Niagara Falls, NY 8.4 7.3 -13.10% 27 Birmingham, AL Birmingham -Hoover, AL 6.9 6 -13.04% 28 Colorado Springs, CO Colorado Springs, CO 9.1 8 -12.09% 29 Syracuse, NY Syracuse, NY 8.3 7.3 -12.05% 30 Norfolk/Hampton Roads, VA Virginia Beach -Norfolk-Newport News, VA -NC 6.7 5.9 -11.94% 31

Austin, TX Austin -Round Rock -San Marcos, TX 5.9 5.2 -11.86% 32 Dallas, TX Dallas -Fort Worth - Arlington, TX 6.8 6 -11.76% 33 Fort Worth, TX Dallas -Fort Worth - Arlington, TX 6.8 6 -11.76% 33 Houston, TX Houston -Sugar Land -Baytown, TX 6.9 6.1 -11.59% 35 Indianapolis, IN Indianapolis -Carmel, IN 7.8 6.9 -11.54% 36 Los Angeles, CA Los Angeles -Long Beach -Santa Ana, CA 10.4 9.2 -11.54% 36 Long Island, NY New York -Northern New Jersey -Long Island, NY -NJ -PA 8.9 7.9 -11.24% 38 New York, NY New York -Northern New Jersey -Long Island, NY -NJ -PA 8.9 7.9 -11.24% 38 Northern New Jersey, NJ New York -Northern New Jersey -Long Island, NY -NJ -PA 8.9 7.9 -11.24% 38 Westchester, NY New York -Northern New Jersey -Long Island, NY -NJ -PA 8.9 7.9 -11.24% 38

Top Markets: Unemployment RANKS

Source: Bureau of Labor Statistics


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Metro MSA Aug 12Unemp

Aug 13Unemp

Change inUnemp

UnempRank

Detroit, MI Detroit -Warren -Livonia, MI 11 9.8 -10.91% 42 Louisville, KY Louisville -Jefferson County, KY -IN 8.3 7.4 -10.84% 43 Columbia, SC Columbia, SC 8.4 7.5 -10.71% 44

Albuquerque, NM Albuquerque, NM 7.7 6.9 -10.39% 45 Charleston, SC Charleston -North Charleston -Summerville, SC 7.7 6.9 -10.39% 45

Atlanta, GA Atlanta -Sandy Springs -Marietta, GA 8.9 8 -10.11% 47 Milwaukee, WI Milwaukee -Waukesha -West Allis, WI 7.6 6.9 -9.21% 48 San Antonio, TX San Antonio -New Braunfels, TX 6.6 6 -9.09% 49 Greenville, SC Greenville -Mauldin -Easley, SC 7.8 7.1 -8.97% 50 Lexington, KY Lexington -Fayette, KY 6.8 6.2 -8.82% 51 Hartford, CT Hartford -West Hartford -East Hartford, CT 9 8.3 -7.78% 52 Philadelphia, PA Philadelphia -Camden -Wilmington, PA -NJ -DE-MD 9.1 8.4 -7.69% 53 Providence, RI Providence -Fall River -Warwick, RI -MA Metropolitan 10.4 9.6 -7.69% 53 Richmond, VA Richmond, VA 6.5 6 -7.69% 53 Tulsa, OK Tulsa, OK 5.6 5.2 -7.14% 56 Baltimore, MD Baltimore -Towson, MD 7.6 7.1 -6.58% 57 New Haven, CT New Haven, CT Metropolitan NECTA 9.2 8.6 -6.52% 58

Fairfield County, CT Bridgeport -Stamford -Norwalk, CT Metropolitan 8.1 7.6 -6.17% 59

District of Columbia, DC Washington - Arlington - Alexandria, DC -VA-MD-WV 5.7 5.4 -5.26% 60 Pittsburgh, PA Pittsburgh, PA 7.6 7.2 -5.26% 60 Suburban Maryland, MD Washington - Arlington - Alexandria, DC -VA-MD-WV 5.7 5.4 -5.26% 60 Suburban Virginia, VA Washington - Arlington - Alexandria, DC -VA-MD-WV 5.7 5.4 -5.26% 60 St. Louis, MO St. Louis, MO -IL 1 7.8 7.4 -5.13% 64 Omaha, NE Omaha -Council Bluffs, NE -IA 4.4 4.2 -4.55% 65 Cincinnati, OH Cincinnati -Middletown, OH -KY-IN 6.9 6.7 -2.90% 66 Nashville, TN Nashville -Davidson --Murfreesboro --Franklin, TN 7 6.8 -2.86% 67 Wichita, KS Wichita, KS 7 6.8 -2.86% 67 Cleveland, OH Cleveland -Elyria-Mentor, OH 7.2 7 -2.78% 69 Phoenix, AZ Phoenix -Mesa -Glendale, AZ 7.6 7.4 -2.63% 70 Oklahoma City, OK Oklahoma City, OK 4.8 4.7 -2.08% 71 Dayton, OH Dayton, OH 7.4 7.3 -1.35% 72 Columbus, OH Columbus, OH 6 6 0.00% 73 Knoxville, TN Knoxville, TN 7.1 7.1 0.00% 73 Little Rock, AR Little Rock -North Little Rock -Conway, AR 6.5 6.5 0.00% 73 Tucson, AZ Tucson, AZ 7.7 7.7 0.00% 73 Boston, MA Boston -Cambridge -Quincy, MA -NH Metropolitan 6.1 6.2 1.64% 77 Chicago, IL Chicago -Joliet -Naperville, IL -IN-WI 8.9 9.1 2.25% 78 Chattanooga, TN Chattanooga, TN -GA 7.8 8 2.56% 79 Memphis, TN Memphis, TN -MS- AR 9.1 9.4 3.30% 80 Kansas City, MO Kansas City, MO -KS 6.9 7.2 4.35% 81 New Orleans, LA New Orleans -Metairie -Kenner, LA 6.9 7.2 4.35% 81

Top Markets: Unemployment Cont. RANKS

Source: Bureau of Labor Statistics


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Top Commercial Real Estate Markets

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