INDUSTRIAL MARKET OVERVIEW · BOBBY GATLING FIRST VICE PRESIDENT INDUSTRIAL MARKET OVERVIEW 2013...
Transcript of INDUSTRIAL MARKET OVERVIEW · BOBBY GATLING FIRST VICE PRESIDENT INDUSTRIAL MARKET OVERVIEW 2013...
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INDUSTRIAL MARKET OVERVIEW
2013 JACKSONVILLE OUTLOOK CONFERENCE
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BOBBY GATLING
FIRST VICE PRESIDENT
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
CONTACT DETAILS: A: 10739 Deerwood Park Blvd, Ste.310 Jacksonville, FL 32256 T: 904.399.5222 F: 904-399-0330 E: [email protected] www. phoenixrealty.net
www. linkedin.com/bobbygatling
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INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
I. JACKSONVILLE INDUSTRIAL MARKET OVERVIEW
II. US INDUSTRIAL MARKET
& COMPETING MARKETS III. US INDUSTRIAL MARKET 2013 TRENDS
History of Jacksonville Industrial
Market
Jacksonville Industrial Submarkets
Completed Transactions 2012
TABLE OF CONTENTS
DISCUSSION POINTS
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I. JACKSONVILLE INDUSTRIAL MARKET OVERVIEW
• HISTORY OF JACKSONVILLE INDUSTRIAL MARKET
• JACKSONVILLE INDUSTRIAL SUBMARKETS
• COMPLETED TRANSACTIONS 2012
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INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
INDUSTRIAL MARKET HISTORY
JACKSONVILLE, FL. SUBMARKET MAP
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INDUSTRIAL SUBMARKETS
JACKSONVILLE MARKET SIZE - 4th QUARTER 2012
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
DOWNTOWN, 8%
NORTHSIDE, 22%
WESTSIDE, 42%
SOUTHSIDE, 22%
ORANGE PARK / CLAY,
4% ST. JOHNS, 2%
DOWNTOWN
NORTHSIDE
WESTSIDE
SOUTHSIDE
ORANGE PARK / CLAY
ST. JOHNS
SOURCE : PHOENIX REALTY GROUP
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JACKSONVILLE SUBMARKET
APPROX. LEASE AND VACANCY RATES
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
SOURCE : PHOENIX REALTY GROUP
6.4
14.9
6.1
10.3 10.1 10 9.2
$1.80
$3.95 $3.52
$4.17
$3.50
$4.75
$3.98
0
2
4
6
8
10
12
14
16
DOWNTOWN NORTHSIDE WESTSIDE SOUTHSIDE ORANGE PARK CLAY COUNTY
ST. JOHNS COUNTY
JACKSONVILLE
Vacancy % Avg. Lease Rate PSF/NNN
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2012 SIGNIFICANT TRANSACTIONS
EXISTING FACILITIES
JANPAK Brokers: Phoenix Realty & JLL Leased: 84,244 SF 6600 Pritchard Road
SAMSUNG Brokers: CBRE Leased: 140,000 SF 12400 Presidents Court
SAM’S CLUB Brokers: Phoenix Realty & Colliers Int. Leased: 130,000 SF 2562 Cabot Commerce Dr.
UNION SUPPLY Brokers: Cushman & Wakefield McKinney Advisory Group Inc. Leased: 146,280 SF 13903 Alvarez Rd.
COFE PROPERTIES Brokers: Phoenix Realty & CBRE SOLD BY: Mercedes Benz USA 8813 & 8873 Western Way
BEDROSIAN Brokers: CBRE & Addison Commercial SOLD BY: Baycenter Rd. - 321,000 SF 8313 Baycenter Road
DALFEN AMERICA Brokers: Phoenix Realty SOLD BY: W.P CAREY 10089 N. Main St.
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GLOBAL INCOME TRUST Brokers: CBRE Purchased a 817,000 SF facility. Leased to SAMSONITE from WEBB INT. 10480 Yeager Road
ALUMINUM PRODUCTS, INC.
Brokers: Pine Street Partners /RPS, LLC “SALE – LEASE BACK” with AIC Ventures 197,000 SF facility. 4925 Bulls Bay Highway
2012 SIGNIFICANT TRANSACTIONS
INVESTMENT SALES
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
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2012 SIGNIFICANT TRANSACTIONS
LAND SALES
MERVIS INDUSTRIES Brokers: Phoenix Realty | Size: 50 Acres
JA-RU Brokers: Colliers & Phoenix Realty | Size: 22 Acres
SAN MAR (Lake WA) Brokers: Phoenix Realty & CBRE | Size: 25 Acres
PUBLIX Brokers: Kern Company | Size: 37 Acres
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II. US INDUSTRIAL MARKET & COMPETING MARKETS
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JACKSONVILLE VS. US VACANCY
INDUSTRIAL VACANCY RATES 2009 -2012
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
SOURCE : PHOENIX REALTY GROUP
10
.4%
10
.7%
10
.9%
10
.5%
10
.4%
10
.3%
9.8
%
9.7
%
9.6
%
9.4
%
9.4
%
9.0
%
8.8
%
9.5
5%
10
.96
%
10
%
10
%
9.7
0%
9.3
0%
9.1
0%
9.4
0%
9.6
0%
9.7
0%
9.5
0%
9.2
0%
9.2
0%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12
USA North East Florida
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MARKET SIZE S.F.
JACKSONVILLE VS. COMPETING MARKETS
208,814,201
105,914,163
134,981,958
102,586,226
45,919,183
0 50,000,000 100,000,000 150,000,000 200,000,000 250,000,000
MIAMI
ORLANDO
TAMPA
JACKSONVILLE
SAVANNAH
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
SOURCE : PHOENIX REALTY GROUP
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VACANCY RATES
JACKSONVILLE VS. COMPETING MARKETS
5.80%
13.20%
9.50%
9.20%
14.70%
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00%
MIAMI
ORLANDO
TAMPA
JACKSONVILLE
SAVANNAH
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
SOURCE : PHOENIX REALTY GROUP
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AVERAGE NET ASKING RENT
JACKSONVILLE VS. COMPETING MARKETS
$5.07
$4.49
$5.07
$3.98
$3.74
$0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00
MIAMI
ORLANDO
TAMPA
JACKSONVILLE
SAVANNAH
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
SOURCE : PHOENIX REALTY GROUP
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III.US INDUSTRIAL MARKET 2013 TRENDS AND PREDICTIONS
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Vacancy rates throughout 2012 continued to
decrease.
Positive absorption occurred throughout 2012.
Phoenix Realty Group and Cushman & Wakefield
leased Body
Central 406,400 SF at ONE IMESON located at One
Imeson Park
Blvd. in Q1-13.
Samsonite leased 240,000 SF at 10089 North Main
St. from
Dalfen America in Q1-13 . Phoenix Realty Group
represented
the landlord.
2013 TRENDS
2013 INDUSTRIAL TRENDS AND PREDICTIONS
INDUSTRIAL MARKET OVERVIEW 2013 JACKSONVILLE OUTLOOK CONFERENCE
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THANK YOU FOR YOUR TIME