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Kidder Mathews
43 followers -
Commercial Real Estate Solutions
Commercial Real Estate Solutions

43 followers
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Kidder Mathews's posts

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KM #Peninsula #SanMateo 2Q 2017 #Office #MarketResearch

The Peninsula office market slowed down during the second quarter, but continued to see steady leasing activity, which produced 50,987 square feet of positive net absorption. San Mateo and Redwood City continue to attract tenants from overpriced markets in San Francisco and Silicon Valley, keeping the county’s vacancy rate stable. Rental rates also remain firm as steady tenant demand preserves a healthy market. The amount of available sublease space, which is often used as a barometer for the markets condition, actually declined over the previous quarter. The market could potentially soften by the end of 2017, but several indicators currently point towards a stabilized market.

https://rebrand.ly/penoffq217

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KM #Oakland / #EastBay 2Q 2017 #Office #MarketResearch

After reaching historically low vacancies in 2016, the East Bay office real estate market has paused to catch its breath during the first half of this year, finding a better balance between demand and supply. East Bay office properties reported 324,551 square feet of negative net absorption during the second quarter, and the vacancy rate increased to 7.1% in Oakland CBD and 8.8% marketwide. Those levels are consistent with a healthy economy and office market, and demand remains strong, particularly for creative spaces and midsize offices in the 10,000-25,000 square foot range. Asking rents marketwide were up 17% year over year, to an average of $2.84, fully serviced, while many Class A spaces in Oakland CBD were being marketed at $4.50 or higher. More than 1.4 million square feet of future office space was under construction at quarter’s end, nearly double the largest volume of construction activity seen at any previous point this cycle, as anchor tenant commitments and rising rents convinced developers of the market’s long-term viability.

https://rebrand.ly/eboffq217

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KM #SanDiego 2Q 2017 #Industrial #MarketResearch

The San Diego County industrial real estate market closed out the second quarter displaying strong positive net absorption, in a generally tight market of low availability and vacancy rates. Countywide total vacancy decreased this quarter by 30 basis points from last quarter, to 5.3%, below the 5.9% vacancy recorded at the same time last year. The vacancy rate for San Diego County’s industrial market is one of the lowest numbers posted in the past ten years, and has remained in this record low for the past two years. The San Diego County unemployment rate sits at 3.6%, below the year-ago estimate of 4.3% and well below the unadjusted unemployment rate of 4.2% for California and 4.1% for the nation. According to the State of California’s Employment Development Department, San Diego County’s total nonfarm employment increased by 20,300 jobs between May 2016 and May 2017, and we expect this strong local economy and increase in job growth to help drive the real estate market in the right direction.

https://rebrand.ly/sdindq217

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KM #SanDiego 2Q 2017 #Office #MarketResearch

The foundation of San Diego’s office market is sturdy. A strong employment base buoyed by tech, life sciences, and healthcare provides a backbone of stability. Several top universities, from UC San Diego to the University of San Diego, provide a talent pool of job-seeking graduates. According to Moody’s Analytics, the growth in the working-age population in San Diego is expected to top all West Coast metros over the next several years, and San Diego is home to one of the largest percentages of millennials in the United States. With its prime location on California’s southern coast, its geographic constraints, and steady demand, vacancies here are holding steady. Additionally, the amount of available sublet space is holding firm just below the five-year average.

https://rebrand.ly/sdoffq217

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While Gen Z shoppers tend to have easy access to devices including smartphones, tablets, and laptops, they continue to have a soft spot in their hearts and wallets for the in-store shopping experience. View article: https://rebrand.ly/articlegenz
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65-Unit Multifamily Community in San Diego Sells for $18M

San Diego, Calif. (July 17, 2017) – Pacific Urban Residential, a West Coast apartment investor, has sold Vue at Lake Murray, a 65-unit multifamily community located at 6867 Golfcrest Drive in San Diego, California, for $18 million. Kidder Mathews’ commercial real estate brokers, Jim Neil, Eric Comer and Merrick Matricardi represented Pacific Urban Residential in the transaction.

The property has resort-like amenities including a clubhouse, swimming pool, and fitness center. It is near Lake Murray located in Mission Trails Regional Park. The location also provides convenient access to the 52 Freeway, State Route 125, and Interstate 8, and it is 13 miles from downtown San Diego.

Built in 1970, Vue at Lake Murray underwent major renovations to the exterior and 49 of the units in 2010 and 2016. Leasing activity at the property indicates value-add opportunity with continued renovations to the remaining 16 units.

Pacific Urban Residential is an industry-leading West Coast apartment investor. Since 2014, PUR apartment investment and sales activities total nearly $1.3 billion.

https://rebrand.ly/pr071717

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Join our L.A. team

Kidder Mathews, the West Coast’s largest privately owned commercial real estate firm, is seeking a skilled Senior Real Estate Broker to join its Los Angeles team (kiddermathews.com).

We proudly continue to attract some of the most talented individuals in our industry. This is in great part due to our company’s impeccable reputation, service platform, professional atmosphere and entrepreneurial culture.

Kidder Mathews is seeking only those applicants who already have strong prior Real Estate sales experience, and a passion to grow both as individual and in their career path. This position requires someone who is detail oriented, results driven, has a passion for providing high quality service with integrity and is committed to finding solutions that help our mutual clients succeed.

View details: https://rebrand.ly/larec0717
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Join our O.C. team

Kidder Mathews, the West Coast’s largest privately owned commercial real estate firm, is seeking a skilled Senior Real Estate Broker to help manage its office located in Irvine, California (kiddermathews.com).

We proudly continue to attract some of the most talented individuals in our industry. This is in great part due to our company’s impeccable reputation, service platform, professional atmosphere and entrepreneurial culture.

Kidder Mathews is seeking only those applicants who already have strong prior Real Estate sales experience, a passion for managing people and to grow both as individual and in their career path.

This position requires someone who is detail oriented, results driven, and has a passion for leading other like-minded real estate professionals. Providing high quality service with integrity and is committed to finding solutions that help our mutual clients succeed is also critical.

https://rebrand.ly/ocrecad0717
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KM #Reno 2Q 2017 #Industrial #MarketResearch

Record levels of inbound demand, coupled with strong local tenant growth, produced an excellent second quarter for the Reno industrial market. More than 2.1 million square feet came off the market in leases and owner/user sales this quarter, as a wide array of companies continued to be drawn to Reno’s logistical advantages and business friendly climate. Industrial vacancies across the market are at or near record lows, and the quarter’s 1,306,493 square feet of positive net absorption pulled the direct vacancy rate below 5% for the first time this cycle. While leasing volume increased to 1,975,752 square feet, the average deal size fell to 32,846 square feet, amid a surge in small-tenant expansions to the 10,000-50,000 square foot range. That growth was accompanied by a record number of new companies visiting the Reno area, and the fierce competition for industrial space portends further absorption gains and rental rate hikes in the coming quarters.

https://rebrand.ly/renoindq217

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Seattle Mart creative office building sells for $14,600,000

Vista Investment Group, a privately held commercial real estate investment company, has purchased Seattle Mart, an 82,218 square foot, 90% occupied, mixed-use creative office building, for $14,600,000. Kidder Mathews commercial real estate brokers, Andy Miller and Evan Lugar represented the seller, Lift Real Estate Partners, a private commercial real estate company, in the transaction.

http://www.kiddermathews.com/release.php?id=264
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7/13/17
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