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Q4 2012 fort_bend_re_market_snapshot

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Lisa Bridges
Lisa Bridges

The document provides a snapshot of commercial real estate trends in the Fort Bend submarket in the fourth quarter of 2012. It summarizes key indicators such as vacancy rates, absorption, and rental rates for the office, medical office, industrial, and retail markets. Representative properties highlighted include the Telfair Commercial Tracts, Healix Building, Lexington Square, and Gillingham Distribution Center.

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Q4 2012 | SUBMARKET SNAPSHOT E. FORT BEND COMMERCIAL REAL ESTATE TRENDS SUBMARKET SNAPSHOT OFFICE MARKET The Fort Bend Office Market posted 32,741 square feet of positive net absorption during the fourth quarter, pushing the year-to-date net E. Fort Bend Market Indicators absorption to 52,027 SF. Between quarters, the average vacancy rate decreased from 22.2% to 21.7% and the average quoted rental rate Office decreased in the fourth quarter from $24.90 to $24.65 per SF. Leasing 4Q11 4Q12 activity decreased significantly between quarters, dropping from 124,470 square feet to 30,595 square feet. The construction pipeline VACANCY 22.6% 21.7% has been empty since the fourth quarter of 2009, and there are still no buildings under construction. ABSORPTION 82,232 32,741 RENTAL RATE $23.68 $24.65 MEDICAL OFFICE MARKET Fort Bend's medical office average vacancy rate decreased between quarters by 120 basis points (bps) from 8.7% to 7.5% and the average Medical Office quoted rental rate decreased from $24.28 to $24.04 per SF. Leasing 4Q11 4Q12 activity decreased slightly between quarters and the submarket posted 17,129 SF of positive net absorption in the fourth quarter. No buildings VACANCY 7.1% 7.5% were delivered during the fourth quarter and there are no medical ABSORPTION 29,068 17,129 office buildings currently under construction. RENTAL RATE $25.19 $24.04 INDUSTRIAL MARKET Fort Bend's industrial market posted 77,289 SF of positive net absorption in the fourth quarter, and the industrial average vacancy rate Industrial fell 50 basis points, from 8.0% to 7.5% between quarters. Year over 4Q11 4Q12 year however, the vacancy rate increased from 7.1% to 7.5%. The quoted average rental rate for industrial space decreased from $5.86 to VACANCY 7.1% 7.5% $5.38 per SF NNN between quarters. No new buildings were delivered in the fourth quarter and there were no buildings under construction at ABSORPTION 97,950 77,289 the close of the quarter. RENTAL RATE $6.07 $5.38 RETAIL MARKET Retail Fort Bend's retail market posted 59,493 SF of positive net absorption in the fourth quarter, pushing the year-end total to 70,787 SF. The 4Q11 4Q12 average retail vacancy rate for all product types stood at 5.8%, down VACANCY 6.4% 5.8% from 6.4% the previous quarter. Fourth quarter leasing activity reached 29,735 SF and some new tenants in the market include JAL ABSORPTION 85,411 59,493 BBQ, Crazy 8, Miracle Ear, and Dr. Cellphone. Currently, there are no buildings under construction and no buildings were delivered during the RENTAL RATE $19.20 $18.93 fourth quarter. http://www.colliers.com/markets/sugarland
SUBMARKET SNAPSHOT | Q4 2012 | E FORT BEND REPRESENTATIVE PROPERTIES ¨C FORT BEND FORT BEND TEAM Land TELFAIR COMMERCIAL TRACTS Hwy 59 & University Blvd, Sugar Land, TX ? Comprised of +/- 187 acres ? Located within Newland Communities¡¯ new master-planned residential development of Telfair ? One of the hottest markets in the Houston MSA Kolbe Curtice, CCIM, CLS ? Ideal for office, retail, hotel development, Managing Director commercial ? At the most active freeway location in Fort Bend County Office HEALIX BUILDING - SUGAR CREEK PLACE II 14140 Southwest Freeway, Sugar Land, TX ? Four-story, 69,014-SF office building on 2.2 acres ? 2nd generation space available ? Class ¡°A¡± Sugar Land building Dr. John Novak ? Excellent visibility with highway frontage Vice President ? Shared covered parking, 4/1,000 ratio ? 24-hour card key access ? Fiber optic cabling Retail LEXINGTON SQUARE 16525 Lexington Blvd, Sugar Land, TX ? Prime retail space at high-traffic intersection ? Strategic location across from First Colony Mall, near Sugar Land Town Square Jim Pratt ? 2nd generation space available Senior Vice President ? Exterior signage available ? Anchored by CVS pharmacy ? Easy access to Marriott, Sugar Land City Hall, Methodist Hospital Industrial GILLINGHAM DISTRIBUTION CENTER 1601 Gillingham Lane, Sugar Land, TX ? ¡À369,439 SF (divisible to 86,000 SF) Corbin Janssen ? ¡À30,466 SF of office space Associate ? 28¡¯ and 38.5¡¯ clear heights ? 69 total overhead doors ? 44 dock doors with levelers/seals COLLIERS INTERNATIONAL | FORT BEND ? 2 oversized drive-in ramps 15999 City Walk, Suite 250 ? Power: 2,000-amp service Sugar Land, Texas 77479 ? 315 parking spaces MAIN +1 281 494 4769 www.colliers.com COLLIERS INTERNATIONAL | P. 2

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Q4 2012 fort_bend_re_market_snapshot

  • 1. Q4 2012 | SUBMARKET SNAPSHOT E. FORT BEND COMMERCIAL REAL ESTATE TRENDS SUBMARKET SNAPSHOT OFFICE MARKET The Fort Bend Office Market posted 32,741 square feet of positive net absorption during the fourth quarter, pushing the year-to-date net E. Fort Bend Market Indicators absorption to 52,027 SF. Between quarters, the average vacancy rate decreased from 22.2% to 21.7% and the average quoted rental rate Office decreased in the fourth quarter from $24.90 to $24.65 per SF. Leasing 4Q11 4Q12 activity decreased significantly between quarters, dropping from 124,470 square feet to 30,595 square feet. The construction pipeline VACANCY 22.6% 21.7% has been empty since the fourth quarter of 2009, and there are still no buildings under construction. ABSORPTION 82,232 32,741 RENTAL RATE $23.68 $24.65 MEDICAL OFFICE MARKET Fort Bend's medical office average vacancy rate decreased between quarters by 120 basis points (bps) from 8.7% to 7.5% and the average Medical Office quoted rental rate decreased from $24.28 to $24.04 per SF. Leasing 4Q11 4Q12 activity decreased slightly between quarters and the submarket posted 17,129 SF of positive net absorption in the fourth quarter. No buildings VACANCY 7.1% 7.5% were delivered during the fourth quarter and there are no medical ABSORPTION 29,068 17,129 office buildings currently under construction. RENTAL RATE $25.19 $24.04 INDUSTRIAL MARKET Fort Bend's industrial market posted 77,289 SF of positive net absorption in the fourth quarter, and the industrial average vacancy rate Industrial fell 50 basis points, from 8.0% to 7.5% between quarters. Year over 4Q11 4Q12 year however, the vacancy rate increased from 7.1% to 7.5%. The quoted average rental rate for industrial space decreased from $5.86 to VACANCY 7.1% 7.5% $5.38 per SF NNN between quarters. No new buildings were delivered in the fourth quarter and there were no buildings under construction at ABSORPTION 97,950 77,289 the close of the quarter. RENTAL RATE $6.07 $5.38 RETAIL MARKET Retail Fort Bend's retail market posted 59,493 SF of positive net absorption in the fourth quarter, pushing the year-end total to 70,787 SF. The 4Q11 4Q12 average retail vacancy rate for all product types stood at 5.8%, down VACANCY 6.4% 5.8% from 6.4% the previous quarter. Fourth quarter leasing activity reached 29,735 SF and some new tenants in the market include JAL ABSORPTION 85,411 59,493 BBQ, Crazy 8, Miracle Ear, and Dr. Cellphone. Currently, there are no buildings under construction and no buildings were delivered during the RENTAL RATE $19.20 $18.93 fourth quarter. http://www.colliers.com/markets/sugarland
  • 2. SUBMARKET SNAPSHOT | Q4 2012 | E FORT BEND REPRESENTATIVE PROPERTIES ¨C FORT BEND FORT BEND TEAM Land TELFAIR COMMERCIAL TRACTS Hwy 59 & University Blvd, Sugar Land, TX ? Comprised of +/- 187 acres ? Located within Newland Communities¡¯ new master-planned residential development of Telfair ? One of the hottest markets in the Houston MSA Kolbe Curtice, CCIM, CLS ? Ideal for office, retail, hotel development, Managing Director commercial ? At the most active freeway location in Fort Bend County Office HEALIX BUILDING - SUGAR CREEK PLACE II 14140 Southwest Freeway, Sugar Land, TX ? Four-story, 69,014-SF office building on 2.2 acres ? 2nd generation space available ? Class ¡°A¡± Sugar Land building Dr. John Novak ? Excellent visibility with highway frontage Vice President ? Shared covered parking, 4/1,000 ratio ? 24-hour card key access ? Fiber optic cabling Retail LEXINGTON SQUARE 16525 Lexington Blvd, Sugar Land, TX ? Prime retail space at high-traffic intersection ? Strategic location across from First Colony Mall, near Sugar Land Town Square Jim Pratt ? 2nd generation space available Senior Vice President ? Exterior signage available ? Anchored by CVS pharmacy ? Easy access to Marriott, Sugar Land City Hall, Methodist Hospital Industrial GILLINGHAM DISTRIBUTION CENTER 1601 Gillingham Lane, Sugar Land, TX ? ¡À369,439 SF (divisible to 86,000 SF) Corbin Janssen ? ¡À30,466 SF of office space Associate ? 28¡¯ and 38.5¡¯ clear heights ? 69 total overhead doors ? 44 dock doors with levelers/seals COLLIERS INTERNATIONAL | FORT BEND ? 2 oversized drive-in ramps 15999 City Walk, Suite 250 ? Power: 2,000-amp service Sugar Land, Texas 77479 ? 315 parking spaces MAIN +1 281 494 4769 www.colliers.com COLLIERS INTERNATIONAL | P. 2