All tagged Office Market

The 1st Quarter 2015 Office and Industrial Forecast Reports are available and ready for download. 

  • At first glance the office market looked like it was a flat quarter with vacancy holding steady at 20.5 percent. The encouraging aspect is how it overcame a very large amount of space that became vacant. 
  • After a banner year in 2014 the industrial market stumbled out of the gate as a handful of large available spaces vacated during the quarter. Vacancy increased slightly rising 20 basis points from the fourth quarter of 2014.

The 23,000+/- square foot Minato Square, located at 10701 & 10721 Montgomery NE, closed escrow last week. The property consists of a 17,211 square feet of multi-tenant office building and a 6,379 square foot, free-standing restaurant that is currently leased to Pacific Rim. The transaction was very complex due to the multi-tenant nature of the project and the fact that the buyer...

First, the September jobs report released this morning by the Bureau of Labor Statistics came in better than expected with payrolls expanding by 103,000 last month while July and August totals were revised higher by a combined 99,000. Government shed 34,000 jobs last month, and private sector employers added 137,000 led by professional and business services (+48,000), education and health services (+45,000) and information (+34,000), although the latter sector was inflated by the return of 45,000 striking Verizon workers to the labor force. Also worth noting: retailers added 13,600 jobs, suggesting they have an optimistic outlook for consumer spending. Other details: the unemployment rate was unchanged at 9.1 percent, average weekly hours rose 0.1 percent and average hourly earnings were up 4 cents. While the September report is good news compared with last month’s preliminary report that zero jobs were created in August, the labor market is still not growing fast enough to begin absorbing the nation’s long-term unemployed.