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2015 CCIM Forecast Presented By Kelly Bland, Senior Vice President Retail Properties Group.

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Presentation on theme: "2015 CCIM Forecast Presented By Kelly Bland, Senior Vice President Retail Properties Group."— Presentation transcript:

1 2015 CCIM Forecast Presented By Kelly Bland, Senior Vice President Retail Properties Group

2 GROSS & NET ABSORPTION

3 VACANCY RATE

4

5 NEW ANCHOR RETAILERS IN 2014 TOTAL: 235,000 Sq. ft.

6 ANCHOR MOVE-OUTS DURING 2014 TOTAL: 161,190 Sq. ft.

7 TENANTS VACATING 561,000 SFHigh level of tenants vacating their space throughout the year: 561,000 SF 29% 400,000 SF 20,000 SF29% were from anchors vacating, but 400,000 SF vacated were from line-shop tenants less than 20,000 SF

8 2.6%Number of homes sales in % over previous year HOUSING MARKET NEW & EXISTING HOMES 8,3188,318 new and existing home sales from Jan.-Nov $260, %Median sales price for Nov $260, % from 2013 (1)Per Ticor Title (2)Per RSAR (1) (2)

9 1.6%1.6% Job Growth in Nov %4.1% Job Growth in Nov %2.1% Job Growth in Nov %-.26% Job Growth in Nov %-1.6% Job Growth in Nov ANNUAL JOB GROWTH 6.4% Unemployment rate of 6.4% in Nov. 2014

10 WASHOE COUNTY SALES TAX 7.2%Sales tax increased 7.2% (July – August 2014)

11 SWC of S. Virginia St. and Neil Road $ psf Significant Sale $3,700,000 Del Monte Center 32,293 sf Sold in July 2014

12 NEC of Los Altos and Sparks Blvd. Significant Sale $4,700,000 Retail Buildings & Land 35,120 sf on 9 Acres Land Sold in August 2014

13 VACANCY RATE Forecast

14 2014 PREDICTION Vacancy will decrease 15.3% to 15.3% Gross Absorption will decrease and Net Absorption will increase slightly

15


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