2011 Hampton Roads Real Estate Market Review - College of ...
2011 Hampton Roads Real Estate Market Review - College of ...
2011 Hampton Roads Real Estate Market Review - College of ...
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Peninsula Class C - Average Rental Rates<br />
DIRECT SPACES SUBLET SPACES TOTAL<br />
# Spaces Min Avg Max # Spaces Min Avg Max Avg<br />
Med<br />
Modified Gross 1 $11.50 $11.50 $11.50 0 - - - $11.50<br />
Off/Med<br />
Double Net 1 $13.00 $13.00 $13.00 0 - - - $13.00<br />
Triple Net 2 $10.00 $10.00 $10.00 0 - - - $10.00<br />
Office/Ret<br />
Full Service Gross 2 $10.00 $11.00 $12.00 0 - - - $11.00<br />
Negotiable 1 - - - 0 - - - -<br />
Triple Net 1 $12.50 $12.50 $12.50 0 - - - $12.50<br />
Office<br />
+ Elec & Clean 1 $12.00 $12.00 $12.00 0 - - - $12.00<br />
Double Net 1 $9.50 $9.50 $9.50 0 - - - $9.50<br />
Full Service Gross 57 $7.20 $10.37 $22.21 1 $12.00 $12.00 $12.00 $10.39<br />
Modified Gross 22 $8.00 $12.32 $27.00 0 - - - $12.32<br />
Negotiable 11 - - - 0 - - - -<br />
Net 11 $9.50 $12.20 $16.00 0 - - - $12.20<br />
Plus All Utilities 4 $6.40 $9.25 $12.00 0 - - - $9.25<br />
Plus Cleaning 1 $22.91 $22.91 $22.91 0 - - - $22.91<br />
Plus Electric 1 $15.00 $15.00 $15.00 0 - - - $15.00<br />
Triple Net 9 $8.00 $13.07 $17.00 0 - - - $13.07<br />
Utilities & Char 17 $9.50 $10.99 $14.00 1 $13.50 $13.50 $13.50 $11.18<br />
Vacancy Rate<br />
Peninsula Class C Vacancy Rates<br />
12%<br />
10%<br />
8%<br />
6%<br />
4%<br />
2%<br />
0%<br />
2010<br />
Q1<br />
2010<br />
Q2<br />
2010 2010<br />
Q3 Q4<br />
Direct/Relet Vacancy<br />
Sublet Vacancy<br />
Total Vacancy<br />
CUR<br />
QUTR<br />
Occupancy<br />
Existing Bldgs: 412<br />
# Spaces: 144<br />
Existing RBA: 2,209,180<br />
Vacant: 11%<br />
Occupied: 1,974,527 89%<br />
Leased: 2,003,886 91%<br />
Availability<br />
Vacant Avail: 206,029 9%<br />
Total Avail: 252,879 11%<br />
Direct Avail: 249,642 11%<br />
Sublet Avail: 3,235 0%<br />
Average Time: 14.6 Months<br />
Leasing activity<br />
Leasing YTD: 31,141 1%<br />
Net Absorp YTD: (2,602) (0%)<br />
Direct gross rent<br />
Office range:<br />
Office Avg:<br />
$6.40-$22.91/yr<br />
$11.73/yr<br />
South <strong>Hampton</strong> <strong>Roads</strong> Class C Vacancy Rates<br />
Vacancy Rate<br />
14%<br />
12%<br />
10%<br />
8%<br />
6%<br />
4%<br />
2%<br />
0%<br />
2010<br />
Q1<br />
2010<br />
Q2<br />
2010 2010<br />
Q3 Q4<br />
Direct/Relet Vacancy<br />
Sublet Vacancy<br />
Total Vacancy<br />
CUR<br />
QUTR<br />
Occupancy<br />
Existing Bldgs: 1028<br />
# Spaces: 237<br />
Existing RBA: 6,517,087<br />
Vacant: 6%<br />
Occupied: 6,110,610 94%<br />
Leased: 6,109,614 94%<br />
Availability<br />
Vacant Avail: 409,553 6%<br />
Total Avail: 555,053 9%<br />
Direct Avail: 546,476 8%<br />
Sublet Avail: 2,080 0%<br />
Average Time: 16.7 Months<br />
Leasing activity<br />
Leasing YTD: 2,674 0%<br />
Net Absorp YTD: (12,020) (0%)<br />
Direct gross rent<br />
Office range: $6.00-$26.23/yr<br />
Office Avg: $12.94/yr<br />
<strong>2011</strong> <strong>Hampton</strong> <strong>Roads</strong> <strong>Real</strong> <strong>Estate</strong> <strong>Market</strong> <strong>Review</strong><br />
44