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Charleston

...my N. Willits Area OverviewThe Charleston metropolitan area is m... ...locally engaged to craft a legacy for the future. The Charleston region is growing and flo... ...t maintains its rich, historic charm. The region stretches from central to southern South Carolina, some 50 miles (80 km) inland, with 90 miles (145 km) of oceanfront. The area’s economic mix is diverse, combining one of the busiest container ports along the Southeast and Gulf coasts, a $3 billion visitor industry, one of the Southeast’s most impressive medical hubs, a well-established base of national and international manufacturers, as well as a large military presence. As one of only three places in the world manufacturing wide body aircraft, the Charleston business community is poised for continued and more energetic growth in the years ahead.  Consistently recognized as a top place to do business, companies continue to locate here to capitalize on the high quality workforce, low taxes, and quality of life. Arts, recreational and cultural opportunities are abundant, including museums, music, dance and theater, as well as water sports, golf, hunting, fishing, horseback riding and other activities.  Abundant restaurant offerings have made Charleston one of the culinary capitals of the world and is consistently recognized internationally as one of the top travel and tourist destinations on the globe. Home to four universities, the Charleston region boasts excellent educational opportunities for its residents.  The Medical University of SC is one of the top research universities in the country and the biotechnology inventions coming from this research create an opportunity for growth in this sector. The digital revolution is also alive and well with multiple Companies, public and private, operating in the space. This vibrant and energetic dimension of the community attracts young and exciting talent to the region. The Charleston region is positioned to grow very well in the 21st century.MarketsOfficeCharleston is a thriving and vibrant coastal City with a well-diversified employment base that has fostered steady growth in the office sector.  Its varied submarkets cater to a variety of office users. From larger employers, such as Boeing, in the central North Charleston area, to the high-end service industries seeking the Historic Central Business District, to the sole proprietors desiring the small bedroom community of Mount Pleasant, the Charleston market meets the needs of an expansive and diverse base of businesses.RetailA city known for its art and entertainment, over the past decade Charleston has received more accolades as a travel, culinary, and shopping destination than its peers and more than practically any other U.S. destination.  From the historic, eighteenth-century downtown shops along brick-lined streets to the burgeoning suburban retail centers to the north and east, Charleston’s three county metropolitan region blends together the creative, entrepreneurial mindset with the large, national chains eager to be a part of the area’s population growth.  As demand for quality retail space has rebounded in late 2011, new product is beginning to go vertical, most particularly in the areas the Historic Downtown’s Upper King Street, Mount Pleasant, and Summerville.Industrial   Charleston’s industrial real estate sector continues to grow with almost 44 million sf of space.  That includes a strong warehouse/distribution hub anchored by one of the deepest and busiest ports on the southeast coast.  In addition, a growing manufacturing footprint continues to expand with an aerospace and auto-related sector that leverages relatively cheap utilities and a productive, non-unionized labor force.  Advanced Security & IT have become the largest user of flex space in the area, particularly as defense contractors and related firms have become one of the region’s largest employers.  A pro-growth business environment, the US’s most efficient port, and highway and rail access to other key markets on the East Coast make Charleston an ideal destination for each of these sectors. ...

Dallas

...in North Texas, plays a vital role in the economy of the Southeastern United States and the country as a whole. The city’s mid-continent location makes ... ...York, Los Angeles and Mexico City. As the fourth-largest metropolitan region in the U.S., the Dallas-Fort Worth area benefits from... ...; and innovative industries featuring the latest technologies. The Dallas-Fort Worth region also contains the third-highest concentration of Fortune 500 companies in the U.S. and serves as the corporate headquarters for such market leaders as Exxon-Mobil Corp., AT&T Inc., American Airlines Inc., J.C. Penney Co. Inc., Kimberley-Clark Corp., and Fluor Corp. Major industries operating in the area include: energy, aerospace, banking, telecommunications, computer technology, healthcare and medical research, transportation and logistics. Founded in 1841 and incorporated as a city in 1856, Dallas serves as an international industrial gateway. Its internationally-renowned transportation infrastructure includes the world’s third-largest airport; another industrial airport that ranks as the first of its kind anywhere on the globe; major rail links; and major highway links to the rest of the continent. Accordingly, the Dallas-Fort Worth commercial real estate market embodies many of the region’s excellent features and strengths. The office, retail and industrial sectors rank among the largest in the U.S., attracting billions of dollars worth of international investment from BRIC countries (Brazil, Russia, India and China) and other regions of the world.Markets OfficeThe Dallas-Fort Worth market comprises more than 226 million square feet of office space. Office product ranges from large multi-tenant buildings in central business districts to suburban office parks. The largest office occupiers include banking, energy, aerospace, and telecommunications firms. Several Fortune 500 companies maintain their corporate headquarters in the region, taking up large blocks of space in downtown locales while also boosting demand in outlying areas. RetailThe Dallas-Fort Worth retail development sector is one of the most vibrant in the United States. The region contains almost numerous shopping centers or malls that each have more than one million square feet of space. Most major national and international brands have developed a presence here as ongoing development, high-quality product in the most-populous areas, and availability of land in surrounding suburbs helps balance supply and demand.IndustrialSeveral factors benefit the Dallas-Fort Worth industrial market – transportation infrastructure being an obvious example. Dallas benefits from having the world’s first industrial airport, which transports cargo only, and another airport that ranks as the third-largest in the U.S., two large intermodal yards and major rail and highway links. Because of the region’s proximity to other major North American markets, long-haul and short-haul trucking, warehousing and logistics firms are extremely active, along with energy-services companies. Many of these companies are expected to expand in coming years. The Great Southwest and Alliance Texas industrial parks alone account for more than 110 million square feet of industrial space. InvestmentThe Dallas-Fort Worth investment real estate market is enhanced by several state and local incentive programs that include tax abatements, long-term tax exemptions and free trade zones. Institutional investors – including pension funds, private-equity funds, REITs and public companies – are attracted to the Dallas region because of its large market size, high income and employment levels, numerous trophy-class properties, and wide range of investment-grade assets.Avison Young in DallasAvison Young launched its Dallas office in July 2011, reaching another milestone in the company’s strategic U.S. expansion program. Together with the firm’s Houston office, the Dallas location gives Avison Young a strong Texas presence and a foothold in the U.S. Southeast. Dallas-area brokers work closely with colleagues in Houston, Calgary and Edmonton on energy-related projects while also partnering with other Avison Young offices across Canada and the U.S. on diverse office, retail, indu...

Industrial deal volume on the rise in Vancouver Summer/Fall

Vancouver Sun interviews Avison Young's John Lecky on indus

Gord Oughton

...ement and Organizational Studies from the University of Western Ontario.&nb... ...ensive knowledge and appreciation for the challenges that face many of his ... ...e, Gord specializes in leasing office space in Toronto's Financial Core, Midtown and Brick & Beam markets.  Gord’s cor...

Toronto (HQ)

...r Area OverviewSituated on the shores of Lake Ontario, Toronto is the capital of the province of Ontario and, with a population of more than 2.6 million, the largest city in Canada and the fifth largest in North America. Including the surrounding suburbs, the Greater Toronto Area has more than 5.5 million residents. This number is expected to grow to nearly 7.5 million by 2031. Diversity and multiculturalism are hallmarks of Toronto life, with nearly 50% of city residents born outside of Canada as of the last census. More than 180 languages and dialects are spoken by Toronto’s citizens, offering employers a labour pool well-suited to doing business around the world. Toronto is considered the financial capital of Canada – home to more corporate headquarters than any other Canadian city, along with the country’s five largest banks, many of its largest insurers and pension plan funds, and the Toronto Stock Exchange, which is the second largest in North America and lists more energy and mining stocks than any other in the world. In addition, the city is an important base of operations for publishing, media, telecommunications, film production and information technology.MarketsOfficeToronto is Canada’s largest office market, and among the five largest in North America, with inventory in excess of 168 million square feet. Toronto’s office market houses a diverse tenant base, including financial and professional services, law firms, and the head offices of resources and mining companies. The last five years have seen a revival in development projects in the city’s downtown, expanding the traditional boundaries of the district as new building sites have been located both within and just outside the downtown core. Office submarkets along the subway lines in midtown and at the north end of the city offer good alternatives within the city limits, while the suburbs also boast a wide selection of spaces.RetailWith more than 5 million consumers in the Greater Toronto Area, the city’s stock of retail real estate has historically enjoyed low vacancy rates and stable rental rates. Regional malls and big-box centres scattered across the region augment the city’s smaller plazas and local shopping amenities. As Canada’s largest retail market, Toronto has attracted the attention of retailers from around the world. Over the past five years, high-end retail chains have contributed to the up-market transformation of the posh Bloor-Yorkville area, creating the city’s premier designer-brand shopping district.IndustrialWith more than 850 million square feet of space, the Greater Toronto Area industrial market is Canada’s largest and among the top three on the continent. Traditionally part of the manufacturing heartland, the area is undergoing a transition from manufacturing to a focus on warehousing, logistics and distribution, with some of the largest logistics and supply-chain management companies operating facilities in the area. With 120 million people living within a 500-mile radius of Toronto, the city benefits from its proximity to the most densely populated part of Canada and the United States, the 400-series highways, cross-border railway distribution lines, and air and sea cargo connections to the rest of the world.InvestmentToronto, like the Canadian market overall, is viewed internationally as a safe, stable and transparent place to invest, and thus has attracted attention from foreign buyers. Given the institutional-grade quality of assets in the city, the size of the market and the high profile it enjoys among the international commercial real estate investment community, it is not surprising that Toronto captures the lion’s share of dollar volume in the Canadian investment market.Avison Young in TorontoAvison Young’s presence in Toronto began with the founding of Avison & Associates in 1989 and has grown steadily ever since. Avison Young’s brokerage team in Toronto has consistently completed major leasing and investment sales transactions involving all types of assets on behalf of tenants, landlords, vendors and buyers alike, including many large national and international corporate clients. As Toronto serves as the national headquarters for many corporations, Avison Young’s Toronto office frequently partners with the company’s brokerage operations in both Canada and the United States, collaborating on transactions for branch offices, distribution and retail facilities across the continent. Media contacts...

Toronto North

... Area Overview Situated on the shores of Lake Ontario, Toronto is the capital of the province of Ontario and, with a population of more than 2.6 million, the largest city in Canada and the fifth largest in North America. Including the surrounding suburbs, the Greater Toronto Area has more than 5.5 million residents. This number is expected to grow to nearly 7.5 million by 2031. Diversity and multiculturalism are hallmarks of Toronto life, with nearly 50% of city residents born outside of Canada as of the last census. More than 180 languages and dialects are spoken by Toronto’s citizens, offering employers a labour pool well-suited to doing business around the world.Toronto is considered the financial capital of Canada – home to more corporate headquarters than any other Canadian city, along with the country’s five largest banks, many of its largest insurers and pension plan funds, and the Toronto Stock Exchange, which is the second largest in North America and lists more energy and mining stocks than any other in the world. In addition, the city is an important base of operations for publishing, media, telecommunications, film production and information technology.MarketsOfficeToronto is Canada’s largest office market, and among the five largest in North America, with inventory in excess of 168 million square feet. Toronto’s office market houses a diverse tenant base, including financial and professional services, law firms, and the head offices of resources and mining companies. The last five years have seen a revival in development projects in the city’s downtown, expanding the traditional boundaries of the district as new building sites have been located both within and just outside the downtown core. Office submarkets along the subway lines in midtown and at the north end of the city offer good alternatives within the city limits, while the suburbs also boast a wide selection of spaces.RetailWith more than 5 million consumers in the Greater Toronto Area, the city’s stock of retail real estate has historically enjoyed low vacancy rates and stable rental rates. Regional malls and big-box centres scattered across the region augment the city’s smaller plazas and local shopping amenities. As Canada’s largest retail market, Toronto has attracted the attention of retailers from around the world. Over the past five years, high-end retail chains have contributed to the up-market transformation of the posh Bloor-Yorkville area, creating the city’s premier designer-brand shopping district.IndustrialWith more than 850 million square feet of space, the Greater Toronto Area industrial market is Canada’s largest and among the top three on the continent. Traditionally part of the manufacturing heartland, the area is undergoing a transition from manufacturing to a focus on warehousing, logistics and distribution, with some of the largest logistics and supply-chain management companies operating facilities in the area. With 120 million people living within a 500-mile radius of Toronto, the city benefits from its proximity to the most densely populated part of Canada and the United States, the 400-series highways, cross-border railway distribution lines, and air and sea cargo connections to the rest of the world.InvestmentToronto, like the Canadian market overall, is viewed internationally as a safe, stable and transparent place to invest, and thus has attracted attention from foreign buyers. Given the institutional-grade quality of assets in the city, the size of the market and the high profile it enjoys among the international commercial real estate investment community, it is not surprising that Toronto captures the lion’s share of dollar volume in the Canadian investment market.Avison Young in TorontoAvison Young’s presence in Toronto began with the founding of Avison & Associates in 1989 and has grown steadily ever since. Avison Young’s brokerage team in Toronto has consistently completed major leasing and investment sales transactions involving all types of assets on behalf of tenants, landlords, vendors and buyers alike, including many large national and international corporate clients. As Toronto serves as the national headquarters for many corporations, Avison Young’s Toronto office frequently partners with the company’s brokerage operations in both Canada and the United States, collaborating on transactions for branch offices, distribution and retail facilities across the continent. Media contacts...

Chicago Suburban

...rnan Area OverviewChicago, the largest market in the Midwest region and the third-largest market in the U.S., provides a critical link betwe... ...leges and universities located within the area. World renowned schools such as the University of Chicago, Northwestern ... ...a University are located here, making the city’s workforce one of the most highly educated in America. The diverse, talented workforce has attracted the headquarters of more than 30 Fortune 500 companies. Chicago is also home to the largest financial and commodity exchanges in the world, the Chicago Merchantile Exchange and the Chicago Board Options Exchange, and serves as the financial center of the region, which has a highly-diversified economy.The Chicago real estate market as a whole is the third largest in the U.S., with more than 2.25 billion square feet of space. Almost every major REIT and national property owner has a presence in the Chicago market, either through headquarters or branch offices.MarketsOfficeThe Chicago office market, home of the original skyscraper, comprises 450 million square feet of office space. Downtown Chicago, especially along Wacker Drive, has become the location for multiple office developments and redevelopments that have reshaped the city skyline and redefined the market. The strong development activity continues to attract new institutional ownership and enhance an already vibrant market. RetailThe retail market consists of approximately 500 million square feet of retail space. In the central business district, the market is driven by opportunistic retailers who have recognized that the CBD provides them an interesting demographic of young professionals as well as mature empty nesters. Companies entering the market and existing retailers are also creating opportunities for themselves and supporting reverse migration to the CBD. As a result, stores and retail centers have a long-term opportunity to capitalize on the creation of new residential properties.IndustrialWith 1.1 billion square feet of industrial space, Chicago ranks as the second-largest industrial market in America, serving as the logistical hub of the United States. Since Chicago is the only market in the nation where all six class I rail lines converge, the industrial property sector benefits from a unique location within North America. The industrial market also gains from the rare combination of a large population and unlimited green field space. The demographics make Chicago an attractive market for industrial investors. In fact, every major U.S. industrial property investor has a presence in Chicago.InvestmentChicago’s office prices remain highly affordable in comparison to other U.S. and international markets. This situation reflects a developer-friendly environment, a lack of physical restraints, and the desirability of the market. In contrast, stable capitalization rates can drive consistently-strong pricing in the industrial market. This is a reflection of the attractiveness of the market to institutional investors, and Chicago’s strategic location in the center of the country. Consequently, Chicago remains a vital market for institutional buyers and is positioned well for the future.Avison Young in ChicagoAvison Young opened its first U.S. office in Chicago in 2009, marking the launch of aggressive North American and international expansion efforts. Due to the city’s Midwest location and prominent role in North American transportation, Chicago brokers have gained considerable industrial real estate experience while also facilitating major office and retail sale and lease transactions. Avison Young’s Chicago office also works closely with the company’s other locations in Canada and the U.S. on transactions involving all a...

Chicago Downtown

...rnan Area OverviewChicago, the largest market in the Midwest region and the third-largest market in the U.S., provides a critical link betwe... ...leges and universities located within the area. World renowned schools such as the University of Chicago, Northwestern ... ...a University are located here, making the city’s workforce one of the most highly educated in America. The diverse, talented workforce has attracted the headquarters of more than 30 Fortune 500 companies.Chicago is also home to the largest financial and commodity exchanges in the world, the Chicago Merchantile Exchange and the Chicago Board Options Exchange, and serves as the financial center of the region, which has a highly-diversified economy.The Chicago real estate market as a whole is the third largest in the U.S., with more than 2.25 billion square feet of space. Almost every major REIT and national property owner has a presence in the Chicago market, either through headquarters or branch offices. MarketsOfficeThe Chicago office market, home of the original skyscraper, comprises 450 million square feet of office space. Downtown Chicago, especially along Wacker Drive, has become the location for multiple office developments and redevelopments that have reshaped the city skyline and redefined the market. The strong development activity continues to attract new institutional ownership and enhance an already vibrant market.RetailThe retail market consists of approximately 500 million square feet of retail space. In the central business district, the market is driven by opportunistic retailers who have recognized that the CBD provides them an interesting demographic of young professionals as well as mature empty nesters. Companies entering the market and existing retailers are also creating opportunities for themselves and supporting reverse migration to the CBD. As a result, stores and retail centers have a long-term opportunity to capitalize on the creation of new residential properties.IndustrialWith 1.1 billion square feet of industrial space, Chicago ranks as the second-largest industrial market in America, serving as the logistical hub of the United States. Since Chicago is the only market in the nation where all six class I rail lines converge, the industrial property sector benefits from a unique location within North America. The industrial market also gains from the rare combination of a large population and unlimited green field space. The demographics make Chicago an attractive market for industrial investors. In fact, every major U.S. industrial property investor has a presence in Chicago.InvestmentChicago’s office prices remain highly affordable in comparison to other U.S. and international markets. This situation reflects a developer-friendly environment, a lack of physical restraints, and the desirability of the market. In contrast, stable capitalization rates can drive consistently-strong pricing in the industrial market. This is a reflection of the attractiveness of the market to institutional investors, and Chicago’s strategic location in the center of the country. Consequently, Chicago remains a vital market for institutional buyers and is positioned well for the future.Avison Young in ChicagoAvison Young opened its first U.S. office in Chicago in 2009, marking the launch of aggressive North American and international expansion efforts. Due to the city’s Midwest location and prominent role in North American transportation, Chicago brokers have gained considerable industrial real estate experience while also facilitating major office and retail sale and lease transactions. Avison Young’s Chicago office also works closely with the company’s other locations in Canada and the U.S. on transactions involving all a...

Tysons Corner

...ons Corner is centrally located in Northern Virginia, which comprises Arlin... ... Loudoun, Prince William counties and the cities of Manassas, Falls Church,... ...addition, Tysons Corner forms part of the Washington Metropolitan Area, which includes the District of Columbia and surrounding counties in Suburban Maryland and Northern Virginia. The Metropolitan Area is the ninth largest urban centre in the United States with more than 6 million residents, and boasts one of the lowest unemployment rates in the country. When combined with Baltimore and its suburbs, the Baltimore-Washington Metropolitan Area has a population exceeding 8 million residents, the fourth largest in the country. Northern Virginia plays an important role in the region and has one of the best-educated workforce within the United States. The federal government accounts for approximately one-third of the region’s economy; however, Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. Top employers include those in the fields of energy, information and communication technology, aerospace, defense, security and intelligence, and biotechnology. The Washington Metropolitan Area also has growing industries not directly related to government, especially in the areas of education, finance, healthcare, hospitality, public policy, and scientific and medical research. George Washington University, Georgetown University, Washington Hospital Center, Howard University, and Fannie Mae are the top five non-government-related employers in the city. A total of 18 Fortune 500 companies’ headquarters are located within the Washington Metropolitan Area. According to the Greater Washington Board of Trade Report, the nation’s capital receives considerable amounts of foreign direct investment from the United Kingdom, Western Europe, and Canada. In addition, Japan, India, Israel, and South Korea are amongst the top countries with companies operating in the region.MarketsOfficeNorthern Virginia has more than 160 million square feet of existing office space and is the largest of the three jurisdictions that make up the Washington Metropolitan Area. The entire Washington Metropolitan Area, which encompasses the District of Columbia, Suburban Maryland as well as Northern Virginia, comprises more than 360 million square feet of existing commercial office space.RetailBlessed with the highest real income and spending power of all the major metro regions within the U.S., Washington-area residents support a diverse and thriving retail market. The region contains more than 280 million square feet of retail space of all types, ranging from lively urban scenes in Georgetown, Adams Morgan and Bethesda to high-end shopping areas, including the Tysons Corner Center, the largest shopping mall in Virginia.IndustrialThe Washington region’s industrial market comprises nearly 200 million square feet with core industrial locations along the I-95, the major north-south access corridor of the Eastern United States, and near Dulles International Airport.InvestmentThe Washington region remains one of the most sought-after investment locations in the U.S. It tops many investors’ lists due to its overall stability, long-term performance and the presence of the federal government.Avison Young in Tysons CornerAvison Young opened its Tysons Corner office in 2010 as part of the company’s acquisition of Appian Realty Advisors LLC, a Northern Virginia-based agency leasing, tenant-representation and project-management firm. Appian has since been rebranded as Avison Young. In 2011 Avison Young acquired Millennium Realty Advisors, also in Tysons Corner. With this latest acquisition, Avison Young achieved another milestone in the company’s aggressive U.S. expansion program while increasing the firm’s presence in Northern Virginia and leveraging the firm’s offerings to the rest of the region. Due to the U.S. Capital Region’s key geographic...