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  • 2009 Kootenai County Market Forum Retail Slides

    Загружено:

    Mike King
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    Local Unemployment Statistics Kootenai County vs. State of Idaho Unemployment Rate 8. 7. Unemployme Rate ent e Year Source: Idaho Commerce and Labor Pre-2008 Market Conditions Class A Buildings Class B Buildings Class C Buildings Prime locations Slightly older buildings Functionally obsolescent Newer buildings Good locations older neighborhoods $16 - $24 per SF NNN $11 - $15 per SF.

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    Local Unemployment Statistics Kootenai County vs. State of Idaho Unemployment Rate 8. 7. Unemployme Rate ent e Year Source: Idaho Commerce and Labor Pre-2008 Market Conditions Class A Buildings Class B Buildings Class C Buildings Prime locations Slightly older buildings Functionally obsolescent Newer buildings Good locations older neighborhoods $16 - $24 per SF NNN $11 - $15 per SF.

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    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    64 просмотров19 страниц

    2009 Kootenai County Market Forum Retail Slides

    Загружено:

    Mike King
    Local Unemployment Statistics Kootenai County vs. State of Idaho Unemployment Rate 8. 7. Unemployme Rate ent e Year Source: Idaho Commerce and Labor Pre-2008 Market Conditions Class A Buildings Class B Buildings Class C Buildings Prime locations Slightly older buildings Functionally obsolescent Newer buildings Good locations older neighborhoods $16 - $24 per SF NNN $11 - $15 per SF.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 19

    Retail

    Dani Kramer, CCIM


    Local Unemployment Statistics
    Kootenai County vs. State of Idaho Unemployment Rate
    8.0
    7.0
    6.0
    mploymeent Ratee

    5.0
    4.0 Kootenai County 
    Unemployment
    3.0
    State of Idaho 
    2.0 p y
    Unemployment
    Unem

    1.0
    0.0

    Year Source: Idaho Commerce & Labor


    Pre-2008 Market Conditions

    Class A Buildings Class B Buildings Class C Buildings


    •Prime locations •Slightly older buildings •Functionally obsolescent
    •Newer buildings •Good locations •Older neighborhoods
    •$16 - $24 per SF NNN •$11 - $15 per SF NNN •$6 - $10 per SF NNN

    •All rates quoted annually


    •NNN = Tenant’s ppro-rata share of common area maintenance,,
    property taxes, insurance, and other operating expenses
    Local Retail – Landlord’s Struggle

    Landlords start with


    asking rental rates

    Solid Tenant =
    Negotiation on terms
    and rent with Tenant
    Current Retail Market – Riverstone Master Plan

    Retail
    eta Leasing
    eas g Rates
    ates
    $22 - $24 per SF NNN
    Current Retail Market – Riverstone Aerial

    Pl
    Planned
    d Site
    Sit for
    f Peak
    P k
    Current Retail Market - Vacancies

    Neider
    N i & 95
    Ironwood Square $15 per SF NNN
    $12.00 per SF NNN
    Sportsman Plaza I & II
    $15 per SF NNN $23 - $25 per SF NNN
    Current Retail Market

    Neider
    N i & 95
    Ironwood Square $15 per SF NNN
    $12.00 per SF NNN

    Sportsman’ss Warehouse
    Sportsman
    Current Retail Market – New Retail CdA
    NEC of Best & 4th Street
    $ -$
    •$18 $24 per
    p SF NNN

    Mountain
    ou ta View
    V ew Plaza
    a a
    •NWC of Hwy 95 & Neider
    •$9 - $15 per SF NNN
    Current Retail Market – New Retail Hayden
    Rustlers Roost
    NWC of Hwy 95 &
    •NWC
    Hayden Ave Planned

    2.5 acres sold to a


    national medical user

    Discount Tire
    2008 Vacancy Report – Kootenai Retail
    Vacancy
    5.83%
    Rates
    12.48%
    2,500,000
    Net Ussable SF
    F

    2,000,000

    1,500,000
    , ,
    Vacant SF
    Net Usable SF

    1,000,000 6.03%

    10.66%
    500,000

    0
    Post Falls Retail Hayden Retail Rathdrum Retail Coeur d'Alene Retail

    Source: Auble, Jolicoeur & Gentry/Coldwell Banker Commercial


    2008 Vacancy Report – Kootenai Retail

    Parkwood Business Properties


    • 2008 Retail Vacancy – 1.3%
    2008 Vacancy Report – Kootenai Retail
    General Growth Properties Inc. (GGP)
    Current Retail Market – Post Falls
    Current Retail Market – Post Falls
    Coeur d’Alene, ID
    I-90 Pleasantview Rd. Interchange
    (46,000+ CPD 2006)
    EXPO Retail/Commercial/Industrial/Multi-Family
    R t il/C i l/I d t i l/M lti F il

    Future Beck Rd. Interchange


    Sysco 2010 Estimated Completion

    Planned Wal-Mart Superstore

    Pl
    Planned
    d Lowe’s
    L ’

    Idaho-Washington Border

    Stateline I-90 Interchange


    Current Retail Market – Post Falls

    Mullan Avenue

    Highway 41
    Highland Crossing

    Planned

    River City Center


    Looking Forward to 2009 - Retail Market
    • Landlords and Tenants need to keep an open dialogue
    • Expect stable/increased vacancies
    • Downward
    D d pressure on rents
    t
    • Increased pressure on rent concessions
    Looking Forward to 2009 - Retail Market
    “With Adversity Comes Opportunity”
    • Landlord Opportunities
    • Purchase distressed properties
    • Purchase retail projects at favorable cap rates
    • Acquire tenants looking to downsize or relocate to a better
    location

    • Tenant Opportunities
    pp
    • Lock-in a lower lease rate for several years at a better
    location
    • Renegotiate
    R ti t upcoming
    i option
    ti extensions
    t i

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