3/18/2012 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW - PDF document

3/18/2012 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 1. LEANING: Moving Forward Presented by: William C. Throne, CCIM, SIOR, ALC 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 LEANING INTO 2012 1. LEANING: Moving Forward 1. LEANING: Moving Forward   Vacancy incrementally better… Large deals leading the way… 2009 12.94% Cal Cartage 385,320 New lease 2010 12.48% Ace Hardware 340,000 BTS 2011 12.12% Green Mountain 330,000 Purchase Navy Exchange 325,000 BTS  Large deals leading the way… Lumber Liquidators 257,218 New lease Lumber Liquidators 250,000 Renewal US Auto Parts 159,294 Expansion Dana Unlimited 126,000 Expansion Total Distribution 110,000 New lease 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 LEANING INTO 2012 1. LEANING: Moving Forward 2. LEANING: Still resistance  Vacancy incrementally better… 2009 12.94% 2010 12.48% 2011 12.12%  Large deals leading the way…  Some sub-sectors are really tightening up 1

3/18/2012 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 LEANING INTO 2012 2. LEANING: Still resistance 2. LEANING: Still resistance   Lending Tolls?  Foreclosures  No Speculative building  Development: EPA, VDEQ, Army Corps  Roads and infrastructure  Energy costs  Tolls? Source: Virginian Pilot 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 LEANING INTO 2012 3. LEANING: Better than we think? 3. LEANING: Better than we think?  We are in better shape than before  Class A warehouse absorption  Port of Virginia  Intermodal  Right to Work State  Unemployment rate  Land available  Development ready sites 2011 ODU / CREED 2011 ODU / CREED INDUSTRIAL REVIEW INDUSTRIAL REVIEW LEANING INTO 2012 LEANING INTO 2012 4. LEANING: Close to the finish line? 4. LEANING: Close to the finish line?  IN 2012, the Hampton Roads industrial market:  Vacancy rate will continue to decline  Broker frustration with limited availability  More large transactions  New buildings planned, construction started 2

3/18/2012 2011 ODU / CREED INDUSTRIAL REVIEW LEANING INTO 2012 THANK YOU 3