Read The Coldwell Banker Commercial Market Comparison Report ranking the top commercial real estate markets in the country. This report examined more than 80 markets based on the percent change in vacancy and rental rates for the office, retail and multi-family sectors from Q3 2012 through Q3 2013, as well as population and unemployment changes over the same time period.
“Commercial real estate is well positioned across all sectors as we start 2014,” said Fred Schmidt, president and chief operating officer of Coldwell Banker Commercial Affiliates. “Supply continues to gradually decrease while demand gradually increases, putting the overall market in a favorable position. We look forward to seeing how these trends will continue to influence the market in the new year.”
Orlando was the only market to rank among the top 10 in the percent change of vacancy and rental rates in each of the sectors measured in the report. It was also the only market to rank among the top 10 in both population and employment growth.
“Orlando is still the top tourist destination in the world, hosting a record 56 million visitors and generating $50 billion in economic impact in 2013,” said Paul Hoffman, vice president, commercial sales with Coldwell Banker Commercial NRT in Orlando, Fla. “With expansions like Disney’s Avatar, Magic Kingdom, Downtown Disney and The Wizarding World of Harry Potter at Universal, along with the opening of the Dr. Phillips Center for the Performing Arts and an 18,000-seat stadium for Orlando’s new Major League Soccer franchise, visitors are expected to exceed 63 million and bring an additional $1.3 billion to the local economy in 2014.”
The Coldwell Banker Commercial Market Comparison Report identified the top 10 commercial real estate markets as follows:
- Orlando, Fla.
- Portland, Ore.
- Dallas, Texas
- Houston, Texas
- Minneapolis, Minn.
- San Diego, Calif.
- Austin, Texas
- Raleigh-Durham, N.C.
- Fort Worth, Texas
- Denver, CO
A full breakdown of the 82 commercial real estate markets by sector is available by downloading the full report.
This market research was conducted by the Coldwell Banker Commercial® brand using data provided by Reis, a leading provider of commercial real estate market information. More than 80 markets were ranked by the following variables of the research: percent change in vacancy from Q3 2012 and Q3 2013 within the market, percent change in rental rates from Q3 2012 and Q3 2013 within the market for the office, retail, and multi-family sectors. Percent change in population from Q3 2012 and Q3 2013 within the market, as reported by Reis, was also considered, as well as the percent change in unemployment from Aug. 2012 and Aug. 2013 within the market, as reported by the U.S. Bureau of Labor Statistics.
Note: this report was previously released and has since been updated to include new rankings.