The Coldwell Banker Commercial brand is taking on the task of finding the ‘Best Markets’ for Commercial Real Estate. Over 80 markets were ranked on two categories for each property sector:
1) % Change in Vacancy from Q3 2012 and Q3 2013 within the market*
2) % Change in Rental Rates from Q3 2012 and Q3 2013 within the market*
Each market was ranked based on the calculation of the 2 variables, then given a total ranking.
In this scoring system, Orange County, CA had the best rank due to a 9.8% drop in vacancy and a 2.2% increase in rental rates over the period in time. Chattanooga, TN was the least favorable due to a 12% increase in vacancy and a .5% decrease in rental rates.
Top Markets: Office
1 - Orange County, CA
2 - San Jose, CA
3 - Denver, CO
4 - Charleston, SC
5 - New York, NY
6 - Portland, OR
7 - Austin, TX
8 - Orlando, FL
9 - Minneapolis, MN
10 - Tulsa, OK
10 - Knoxville, TN
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12 - Boston, MA
13 - Greenville, SC
13 - Fort Worth, TX
15 - San Antonio, TX
16 - Dallas, TX
16 - Nashville, TN
18 - Seattle, WA
19 - San Francisco, CA
20 - Central New Jersey, NJ
20 - Oklahoma City, OK
22 - Indianapolis, IN
23 - Houston, TX
24 - Oakland-East Bay, CA
25 - Raleigh-Durham, NC
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26 - Chicago, IL
27 - Richmond, VA
28 - San Diego, CA
28 - Little Rock, AR
30 - Palm Beach, FL
31 - Philadelphia, PA
32 - Los Angeles, CA
32 - Milwaukee, WI
32 - Buffalo, NY
35 - Pittsburgh, PA
36 - Dayton, OH
37 - Kansas City, MO
38 - Columbus, OH
38 - New Haven, CT
38 - Miami, FL
41 - Greensboro/Winston-Salem, NC
42 - Atlanta, GA
42 - Salt Lake City, UT
44 - Hartford, CT
44 - Tacoma, WA
46 - New Orleans, LA
46 - Phoenix, AZ
46 - Providence, RI
46 - Charlotte, NC
50 - Jacksonville, FL
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51 - Fairfield County, CT
52 - Louisville, KY
53 - Tampa-St. Petersburg, FL
53 - Colorado Springs, CO
55 - Detroit, MI
56 - Baltimore, MD
57 - Suburban Maryland, MD
58 - Lexington, KY
59 - Fort Lauderdale, FL
60 - Rochester, NY
61 - District of Columbia, DC
62 - Northern New Jersey, NJ
63 - Omaha, NE
64 - Cleveland, OH
64 - San Bernardino/Riverside, CA
66 - Wichita, KS
66 - St. Louis, MO
68 - Albuquerque, NM
69 - Las Vegas, NV
70 - Norfolk/Hampton Roads, VA
71 - Westchester, NY
72 - Sacramento, CA
72 - Long Island, NY
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Bottom Markets: Office
74 - Columbia, SC
75 - Birmingham, AL
76 - Suburban Virginia, VA
76 - Memphis, TN
78 - Syracuse, NY
79 - Cincinnati, OH
80 - Ventura County, CA
81 - Tucson, AZ
82 - Chattanooga, TN
*Source: Reis.com
Methodology: % change in vacancy Q3 2012 to Q3 2013, then ranked. % change in rental rates Q3 2012 to Q3 2013, then ranked. The two rankings were added together, then a final ranking was given.
http://blog.cbcworldwide.com/
