2010 Global Market Report - NAI Commercial Real Estate

■ ■ ■ Table of ContentsGENERAL INFORMATIONNAI Global President's Letter ..........................................................1Table of Contents...........................................................................2Note from Dr. Peter Linneman ........................................................3About Your Global Market Report ....................................................3GLOBAL OUTLOOKGlobal Outlook ...............................................................................4REGIONAL HIGHLIGHTSNortheast Highlights.....................................................................21Southeast Highlights ....................................................................22Midwest Highlights.......................................................................23Southwest Highlights....................................................................24West Highlights............................................................................25ASIA PACIFICMelbourne, Australia ....................................................................27ChinaBeijing .....................................................................................27Chengdu ..................................................................................28Hong Kong ...............................................................................28Shanghai..................................................................................29Xiamen ....................................................................................29Guam..........................................................................................30IndiaChennai ...................................................................................30Delhi, Gurgaon .........................................................................31Hyderabad, Pradesh..................................................................31Kolkata.....................................................................................32Pune, Maharashtra ...................................................................32Punjab .....................................................................................33Tokyo, Japan ...............................................................................33Kuala Lumpur Malaysia ................................................................34Singapore....................................................................................34Seoul, South Korea ......................................................................35Taipei, Taiwan ..............................................................................35CANADAAlbertaCalgary ....................................................................................37Edmonton ................................................................................37British ColumbiaVancouver................................................................................38Victoria ....................................................................................38Nova ScotiaHalifax .....................................................................................39OntarioOttawa.....................................................................................39Toronto ....................................................................................40Montreal ..................................................................................40Regina, Saskatchewan...............................................................41EUROPE MIDDLE EAST AFRICAVienna, Austria.............................................................................43The Baltics (Latvia/Estonia/Lithuania) ............................................43Sofia, Bulgaria .............................................................................44Prague, Czech Republic................................................................44Copenhagen, Denmark.................................................................45Finland........................................................................................45Paris, France ...............................................................................46Frankfurt am Main, Germany ........................................................46Atehens, Greece ..........................................................................47Reykjavik, Iceland.........................................................................47Tel Aviv, Isreal ..............................................................................48Almaty, Kazakhstan ......................................................................48Kuwait.........................................................................................49Oslo, Norway ...............................................................................49Doha, Qatar.................................................................................50Bucharest, Romania.....................................................................50Moscow, Russian Federation ........................................................51St. Petersburg, Russian Federation................................................51Belgrade, Serbia ..........................................................................52Johannesburg South, Africa..........................................................52Madrid, Spain ..............................................................................53Stockholm, Sweden......................................................................53Geneva, Switzerland.....................................................................54Zurich, Switzerland.......................................................................54Istanbul, Turkey............................................................................55Kiev (Kyiv), Ukraine.......................................................................55London, England United Kingdom..................................................56LATIN AMERICA AND THE CARIBBEANBuenos, Aires Argentina ...............................................................58Nassau, Bahamas ........................................................................58BrazilCampinas.................................................................................59Curitiba....................................................................................59Porto Alegre .............................................................................60Rio de Janeiro ..........................................................................60Sao Paulo.................................................................................61Santiago, Chile.............................................................................61San Jose, Costa Rica ...................................................................62Kingston, Jamaica........................................................................62MexicoCiudad Juarez, Chihuahua.........................................................63Guadalajara..............................................................................63Guanajuato, Guanajuato ............................................................64Mexico City ..............................................................................64Mexico (continued)Matamoros, Tamaulipas ............................................................65Mexicali, Baja California............................................................65Monterrey, Nuevo Leon .............................................................66Querétaro, Querétaro ................................................................66Reynosa...................................................................................67Saltillo, Coahuila .......................................................................67San Luis Potosi (SLP)................................................................68Tijuana, Baja California..............................................................68Torreon, Coahulia......................................................................69Caracas, Venezuela......................................................................69UNITED STATESAlabamaBirmingham ..............................................................................71Huntsville/Decatur County..........................................................71Mobile/Baldwin County ..............................................................72ArizonaPhoenix ....................................................................................72ArkansasJonesboro.................................................................................73Little Rock.................................................................................73CaliforniaInland Empire (Riverside/San Bernardino) .................................74Los Angeles County.................................................................74Marin County ..........................................................................75Monterey County.....................................................................75Oakland..................................................................................76Orange County........................................................................76Sacramento ...........................................................................77San Diego...............................................................................77San Francisco County..............................................................78San Mateo County...................................................................78Santa Clara County (Silicon Valley) ...........................................79Santa Cruz County ..................................................................79Sonoma County.......................................................................80Ventura County .......................................................................80ColoradoColorado Springs.....................................................................81Denver....................................................................................81DelawareDelaware & Cecil County Maryland...........................................82District of ColumbiaWashington, D.C. ....................................................................82FloridaFort Lauderdale.......................................................................83Ft. Myers/Naples/Port Charlotte/Bonita Springs.........................83Jacksonville ............................................................................84Marin & St. Lucie Counties ......................................................84Miami.....................................................................................85Orlando ..................................................................................85Palm Beach County.................................................................86Tampa Bay..............................................................................86GeorgiaAtlanta....................................................................................87HawaiiHonolulu .................................................................................87IdahoBoise......................................................................................88Southeast (Idaho Falls/Pocatello)..............................................88IllinoisChicago .................................................................................89Springfield ..............................................................................89IndianaFort Wayne .............................................................................90Indianapolis ............................................................................90IowaCedar Rapids, Iowa City...........................................................91Davenport/Bettendorf, Iowa & Rock Island/Moline, Illinois ..........91Des Moines.............................................................................92Sioux City ...............................................................................92KansasWichita ...................................................................................93KentuckyLexington................................................................................93Louisville ................................................................................94LouisianaBaton Rouge...........................................................................94Monroe...................................................................................95New Orleans ...........................................................................95MaineGreater Portland/Southern Maine .............................................96MarylandBaltimore................................................................................96Suburban Maryland.................................................................97MassachusettsBoston....................................................................................97Western (Greater Springfield) ...................................................98MichiganDetroit ....................................................................................98Grand Rapids..........................................................................99Lansing ..................................................................................99MinnesotaMinneapolis/St. Paul..............................................................100MissouriKansas City...........................................................................100St. Louis ...............................................................................101MontanaBozeman ..............................................................................101Missoula...............................................................................102NebraskaLincoln .................................................................................102Omaha .................................................................................103NevadaLas Vegas.............................................................................103Reno ....................................................................................104New HampshireManchester...........................................................................104Portsmouth ...........................................................................105New JerseyAtlantic County......................................................................105Middlesex/Somerset Counties ................................................106Northern New Jersey.............................................................106Ocean/Monmouth Counties (“Shore Market”)..........................107Princeton/Mercer County .......................................................107Southern New Jersey ............................................................108New MexicoAlbuquerque .........................................................................108Las Cruces ...........................................................................109New YorkAlbany ..................................................................................109New York City........................................................................110Long Island...........................................................................110North CarolinaAsheville...............................................................................111Charlotte...............................................................................111Greensboro/High Point/Winston-Salem ...................................112Raleigh/Durham ....................................................................112North DakotaFargo....................................................................................113OhioAkron ...................................................................................113Canton .................................................................................114Cincinnati .............................................................................114Cleveland..............................................................................115Columbus .............................................................................115Dayton..................................................................................116OklahomaOklahoma City.......................................................................116Tulsa ....................................................................................117OregonPortland................................................................................117PennsylvaniaAllentown..............................................................................118Berks County ........................................................................118Bucks County........................................................................119Harrisburg/York/Lebanon .......................................................119Lancaster .............................................................................120Philadelphia ..........................................................................120Pittsburgh.............................................................................121Schuylkill County...................................................................121Wilkes-Barre/Scranton/Hazleton.............................................122South CarolinaColumbia ..............................................................................122Greenville/Spatanburg/Anderson Counties ..............................123South DakotaSioux Falls ............................................................................123TennesseeChattanooga .........................................................................124Clarksville .............................................................................124Knoxville ...............................................................................125Memphis ..............................................................................125Nashville...............................................................................126TexasAustin...................................................................................126Beaumont.............................................................................127Corpus Christi .......................................................................127Dallas...................................................................................128El Paso .................................................................................128Fort Worth.............................................................................129Houston................................................................................129Rio Grande Valley (McAllen/Mission/Brownsville/Harlingen) ......130San Antonio ..........................................................................130Texarkana (Bowie County, Texas/Miller County, Arkansas) ........131UtahSalt Lake City........................................................................131Washington County ...............................................................132VermontBurlington.............................................................................132VirginiaNorthern Virginia ...................................................................133WashingtonSeattle/Puget Sound..............................................................133Spokane ...............................................................................134Tri-Cities...............................................................................134WisconsinMadison ...............................................................................135Milwaukee ............................................................................135Northeastern Wisconsin (Fox Valley/Green Bay) .......................136WyomingCasper..................................................................................136Jackson Hole ........................................................................137Glossary....................................................................................1382010 Global Market Report ■ www.naiglobal.com 2