industrial and land review. washington county square footagevacancy
TRANSCRIPT
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WHAT’S UP DOWN SOUTH?Industrial and Land Review
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INDUSTRIAL OVERVIEWWashington County
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TEN YEAR HISTORY
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
01,000,0002,000,0003,000,0004,000,0005,000,0006,000,0007,000,0008,000,0009,000,000
0.00%2.00%4.00%6.00%8.00%10.00%12.00%14.00%16.00%18.00%
Total SF Vacancy
Square Footage
Vacancy
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ZOOMED IN VIEW
End
2008
Mid
200
9
End
2009
Mid
201
0
End
2010
7,600,000
7,700,000
7,800,000
7,900,000
8,000,000
8.00%9.00%10.00%11.00%12.00%13.00%14.00%15.00%16.00%17.00%
Total SF Vacancy
Square Footage
Vacancy
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SIX MONTH SPECIFICS
Net and Gross square footage absorption
Notable Deals
Big Building Shortage?
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WINDFALLS – 88,524 SF
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FORT PIERCE WAREHOUSE – 95,778 SF
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FORMER MIKOHN BUILDING – 85,660 SF
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50,000 SF+
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PRICING
Warehouse: $0.27 - $0.55sf MG/NNN
Office: Blended
Land: $2.40 - $4.00 PSF
Cost to build--materials vs. labor
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JOB PICTURE
Unemployment Washington County – 10% Job Loss in 3rd Quarter Job Growth in 4th Quarter!
The Data Approximately 5,500 people unemployed 16% construction, 9% production, 8%
transportation
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WHY CHOOSE WASHINGTON COUNTY? Utah #1 best state for business, Source:
Forbes Mag.
Strong fiscal policy, competitive wages, friendly regulatory environment, etc.
What will 2011 look like?
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LANDWashington County
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LAND TRANSACTIONS
Transaction volume
Buy or build?
Improved vs. unimproved
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TRANSLATION
Landlords/Sellers Lease picture Building valuation
Tenants/Buyers Buy smart, buy soon
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THANK YOU FOR YOUR TIME
For questions or comments regarding this presentation or industrial opportunities, please contact:
Travis Parry [email protected]