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realtor National
COMMERCIAL FORECAST – AUGUST 2009
OFFICE 2008 IV 2009 I 2009 II 2009 III 2009 IV 2010 I 2010 II 2008 2009 2010
Vacancy Rate 13.9% 14.7% 15.5% 16.5% 17.4% 18.2% 18.2% 13.4% 16.0% 18.9%
Completions ('000 sq. ft.) -6,893 -16,563 -15,668 -21,788 -21,004 -19,102 -15,133 12,271 -75,023 -47,229
Completions ('000 sq. ft.) 12,888 12,746 15,040 15,988 13,916 12,315 7792 68,187 57,690 27,197
Inventory ('000,000 sq. ft.) 3,480 3,523 3,547 3,563 3,577 3,589 3,597 3,480 3,577 3,605
Rent Growth -0.6% -3.0% -6.3% -2.3% -2.5% -2.4% -2.5% -0.4% -14.1% -10.0%
INDUSTRIAL 2008 IV 2009 I 2009 II 2009 III 2009 IV 2010 I 2010 II 2008 2009 2010
Vacancy Rate 11.1% 12.2% 13.0% 13.6% 14.2% 14.7% 15.0% 10.4% 13.3% 15.1%
Completions ('000 sq. ft.) -5,795 -89,886 -80,296 -64,399 -64,939 -51,847 -35,766 -57,241 -299,520 -111,987
Completions ('000 sq. ft.) 57,280 24,199 16,151 13,703 13,703 4,094 15,771 179,613 76,398 48,751
Inventory ('000,000 sq. ft.) 12,923 13,026 12,963 12,977 12,999 13,003 13,019 12,923 12,99913,048 3,605
Rent Growth -0.6% -3.0% -6.3% -2.3% -2.5% -2.4% -2.5% -0.4% -14.1% -10.0%
RETAIL 2008 IV 2009 I 2009 II 2009 III 2009 IV 2010 I 2010 II 2008 2009 2010
Vacancy Rate 10.8% 11.1% 11.7% 12.2% 12.6% 12.8% 12.9% 9.7% 11.9% 13.0%
Completions ('000 sq. ft.) -8,784 -10,723 -5,456 -4,949 -4,768 -2,295 -1,371 -7,315 -25,896 -3,620
Completions ('000 sq. ft.) 8,674 2,908 3,025 3,562 3,272 558 306 26,286 12,767 6,454
Inventory ('000,000 sq. ft.) 1,621 1,618 1,658 1,662 1,665 1,666 1,666 1,621 1,665 1,672
Rent Growth -4.2% -0.6% -0.5% -2.4% -2.6% -1.9% -1.3% -2.0% -6.1% -4.9%
MULTI-FAMILY 2008 IV 2009 I 2009 II 2009 III 2009 IV 2010 I 2010 II 2008 2009 2010
Vacancy Rate 6.1% 6.6% 7.4% 7.4% 7.9% 7.6% 7.1% 5.7% 7.3% 6.9%
Completions (Units) 12,001 -1,028 37,535 41,663 -48,104 59,030 95,516 24,390 30,066 246,432
Completions (Units) 55,926 43,031 55,638 40,032 29,578 20,917 15,156 220,773 168,279 64,634
Inventory (Units in millions) 14.2 14.3 14.3 14.4 14.4 14.4 14.4 14.2 14.4 14.4
Rent Growth 0.6% 0.6% -1.2% -0.1% 0.4% 0.2% 0.2% 2.9% -1.5% 0.8%
 
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