Embed Size (px)
Citation preview
Proud member of
NATIONAL CRANE BUILDING MARKET REPORT
TRANSWESTERN METALS TEAM
FOURTH QUARTER 2015
On a quarterly basis, the Transwestern Metals Team (TMT) will bring you a report offering insights into the crane building segment of the industrial real estate market on a national level. We are primarily focused on those markets containing a base of at least 5,000,000 square feet of buildings commonly referred to as “crane buildings” or those facilities serviced by overhead bridge cranes.
As a member of MSCI, we have organized our data/charts, using the MSCI Chapters as our geographic regions. We hope that this approach will offer more value to our fellow MSCI members in terms of recognizing value and opportunities with the national crane building market place, but more specifically within those regions where they are conducting “value add” operations.
We are also going to provide an ongoing overview of several key indicators, which impact the vacancy, availability and value of crane buildings. As special purpose facilities, general economic market conditions have an impact, however certain key indices such as employment growth in US manufacturing and US auto production have a direct impact on this segment of the Industrial Real Estate market.
We hope that you will find the information helpful and informative. Please let us know if you have any questions and any suggestions as to what you would like to see in future issues. As always, we remain eager to serve you with facility acquisitions & dispositions, and site selection consultation for your crane building requirements.
Thank you.
Transwestern Metals Team is Proud to Present the First Publication of the National Crane Building Market Report
100%Percent of capacity
90%
80%
70%
60% 1980 1985 1990 1995 2000 2005 2010 2015
PLANT CAPACITY UTILIZATION INDEX
TotalPeriods of busines recession (NBER) Manufacturing
20
15
10
5
0 200920082007 2010 2011 2012 2013 2014 2015 2016 2017 2018
U.S. LIGHT VEHICLE SALES FORECAST in millions
4.2 % 1.7% 1.1 % 0.5%
UNITED STATES
07 08 09 10 11 12 13 14 15
12%
10%
8%
6%
4%
2%
US UNEMPLOYMENT RATE
Source: U
S Staistics Bureau
Source: Fed
eral ReserveSo
urce: Center fo
r Auto
mo
tive Research
FOURTH QUARTER 2015
NATIONAL CRANE BUILDING MARKET REPORT
OREGON
NORTHERNCALIFORNIA
SOUTHERN CALIFORNIA & HAWAII
WASHINGTON & ALASKA
INLAND NORTHWEST
INTERMOUNTAIN
ROCKY MOUNTAIN
ARIZONA
TEXAS
MID AMERICA
NORTHWEST
MID SOUTH
GULF REGIONFLORIDA & PUERTO RICO
SOUTH ATLANTICST. LOUIS
CENTRAL STATES
NEW ENGLAND
NEW YORK
PHILADELPHIA
BUFFALO
WISCONSINNORTHERN OHIO
CINCINNATI
MICHIGAN
PITTSBURGHINDIANA
Transwestern Location
Vacancy over 20%
Vacancy between 11-20%
Vacancy below 10%
Source: CoStar
NATIONAL VACANCY
Source: CoStar
REAL ESTATE OUTLOOK NATIONAL CRANE BUILDING MARKET Q4 2015
0
20,000,000
40,000,000
60,000,000
80,000,000
Mic
hig
an
Tota
l Mar
ket S
qua
re F
eet
Cen
tral
Sta
tes
No
rhte
rn O
hio
Texa
s
Sout
h A
tlant
ic
Mid
So
uth
New
Yo
rk
Phila
del
phi
a
Wis
cons
in
Mid
Am
eric
a
Vaca
ncy
Rate
0%
5%
25%
20%
15%
10%
FOURTH QUARTER 2015
NATIONAL CRANE BUILDING MARKET REPORT
MSCI Chapter Total Market SF Number of Properties
Number of Available
Spaces Total Vacant SF Vacancy Rate
Average Asking Sale Price ( per
SF)
Average Asking Lease Rate (per SF)
Average time on market
(mos.)
Michigan 81,469,611 535 202 10,575,583 13.0% $24.00 $3.73 32.9
Central States 58,902,781 386 154 5,959,471 10.1% $30.00 $4.37 28.5
N. Ohio 47,393,282 293 158 6,447,570 13.6% $18.00 $2.85 28.3
Texas 45,453,536 345 88 7,010,404 15.4% $40.00 $4.52 11.9
South Atlantic 41,617,605 249 94 7,505,974 18.0% $24.00 $3.41 19.0
Mid South 41,060,535 206 71 10,097,131 24.6% $19.00 $3.03 33.9
New York 39,694,657 259 177 5,177,721 13.0% $44.00 $5.21 33.8
Philadelphia 39,038,227 243 130 4,959,815 12.7% $35.00 $3.70 37.1
Wisconsin 29,337,293 158 120 6,993,658 23.8% $20.00 $3.39 26.5
Mid America 28,583,462 155 84 2,594,675 9.1% $20.00 $3.39 28.2
Pittsburgh 25,255,503 148 87 5,094,675 20.2% $16.00 $3.63 37.4
Cincinnati 18,550,644 120 56 2,415,047 13.0% $21.00 $2.78 33.1
Indiana 17,291,122 97 43 3,795,934 22.0% $15.00 $2.22 34.9
New England 16,977,709 120 116 3,482,597 20.5% $20.00 $4.22 39.8
Northern CA 15,946,454 108 44 2,073,019 13.0% $39.00 $4.40 30.2
Rocky Mountain 13,606,192 110 40 860,848 6.3% $21.00 $3.37 27.7
Southern CA and HI 12,785,583 119 16 139,743 1.1% $109.00 $6.70 12.7
St. Louis 11,403,467 68 24 761,195 6.7% $24.00 $3.28 13.0
Buffalo 11,152,265 59 49 2,383,816 21.4% $18.00 $3.98 39.1
WA and Alaska 8,399,747 37 13 835,958 10.0% $57.00 $4.16 10.0
Florida 8,347,730 64 24 1,652,798 19.8% $36.00 $4.48 31.6
Intermountain 7,791,966 59 28 957,656 12.3% $19.00 $2.88 33.7
Arizona 6,840,415 45 14 1,191,413 17.4% $53.00 $3.86 16.7
Oregon 5,978,833 54 20 813,841 13.6% $42.00 $4.56 13.8
Gulf Region 5,475,914 34 7 523,238 9.6% $29.00 $2.30 61.5
Total US 638,354,533 4,071 1,859 94,303,780 14.8% $31.76 $3.78 28.6Source: CoStar
KEY MARKET AVAILABLE CRANE BUILDING STATISTICS
REAL ESTATE OUTLOOK NATIONAL CRANE BUILDING MARKET Q4 2015
FOURTH QUARTER 2015
NATIONAL CRANE BUILDING MARKET REPORT
Transwestern’s Metals Industry Practice delivers expert insight into best practices, current trends, issues and requirements of the metals industry. We offer an understanding of the issues effecting your business and aligning property requirements with business objectives. We know that being in the right location at the right price is key to success.
Meet the Transwestern Metals Team
Bill de la ChapellePrincipalP: [email protected] Dallas, TX
Steve StoneDirectorP: [email protected] Rosemont, IL
Sarah Everett-LanCarteSenior AssociateP: [email protected] Fort Worth, TX
Duane PoppeVice PresidentP: [email protected] Minneapolis, MN
Steve Kozarits Senior Vice President P: 312.881.7097 [email protected] Chicago, IL
Alex Previdi Managing DirectorP: [email protected] Parsippany, NJ
Scott StubblefieldVice President P: 314.802.0813 [email protected]. Louis, MO
Jane RobinsSenior DirectorP: [email protected] Rosemont, IL
John VaughtSenior Vice PresidentP: [email protected] Miami, FL
Michelle WoganExecutive Vice President P: 713.270.3348 [email protected], TX
Allen ValdellonVice President P: 408.843.4108 [email protected] Jose, CA
Craig BustosAssociateP: [email protected] Denver, CO
Copyright © 2015 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from CoStar and other primary and secondary sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completemess of such information and expressly disclaims any responsibility for any inaccuracy contained herein.
