a market conditions and project evaluation summary of - Georgia ...
a market conditions and project evaluation summary of - Georgia ...
a market conditions and project evaluation summary of - Georgia ...
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Archstone Decatur Crossing (fka Grayson Park), continued<br />
Trend Report<br />
Vacancy Rates<br />
1Q09<br />
4Q10<br />
7.8% 3.9%<br />
Trend: Market<br />
1BR / 1BA<br />
1Q11<br />
3.3%<br />
2Q12<br />
0.6%<br />
Year QT Vac. Face Rent Conc. Concd. Rent Adj. Rent<br />
2009 1 2.4% $742 - $840 $0 $742 - $840 $742 - $840<br />
2010 4 3.6% $900 - $1,329 $0 $900 - $1,329 $900 - $1,329<br />
2011 1 N/A $996 - $1,056 $0 $996 - $1,056 $996 - $1,056<br />
2012 2 0.0% $744 - $1,053 $0 $744 - $1,053 $744 - $1,053<br />
2BR / 2BA<br />
Year QT Vac. Face Rent Conc. Concd. Rent Adj. Rent<br />
2009 1 11.9% $1,004 - $1,134 $0 $1,004 - $1,134 $1,004 - $1,134<br />
2010 4 3.6% $1,049 - $1,856 $0 $1,049 - $1,856 $1,049 - $1,856<br />
2011 1 N/A $1,162 - $1,385 $0 $1,162 - $1,385 $1,162 - $1,385<br />
2012 2 0.0% $1,184 - $1,256 $0 $1,184 - $1,256 $1,184 - $1,256<br />
3BR / 2BA<br />
Year QT Vac. Face Rent Conc. Concd. Rent Adj. Rent<br />
2009 1 16.7% $1,285 $0 $1,285<br />
$1,285<br />
2010 4 8.3% $1,400 $0 $1,400<br />
$1,400<br />
2011 1 N/A $1,551 $0 $1,551<br />
$1,551<br />
2012 2 8.3% $1,479 $0 $1,479<br />
$1,479<br />
Studio / 1BA<br />
Year QT Vac. Face Rent Conc. Concd. Rent Adj. Rent<br />
Trend: Comments<br />
1Q09<br />
4Q10<br />
1Q11<br />
2Q12<br />
The leasing agent stated the property uses special s<strong>of</strong>tware to determine rents which can change on a daily, weekly, or monthly basis. The current rents<br />
quoted are between five <strong>and</strong> 20 percent lower than in October <strong>of</strong> 2008 when we last surveyed the property. The leasing agent attributed the lower rents to<br />
the slow economic <strong>conditions</strong> in the area as households are seeking the best possible deals on rents.<br />
None.<br />
Rents <strong>and</strong> occupancy are current as <strong>of</strong> March 2011; all other data is current as <strong>of</strong> October 2010.<br />
The contact stated that dem<strong>and</strong> has recently increased <strong>and</strong> currently they have only one vacant unit.<br />
© Novogradac & Company LLP 2008 - All Rights Reserved.
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