barry slatt mortgage sd - 2016 wrap-up
TRANSCRIPT
BARRY SLATT MORTGAGE
SAN DIEGO MARKET UPDATE2016 WRAP-UP
Cody CharfaurosCommercial Mortgage Banker4445 Eastgate Mall, Suite 200San Diego, CA [email protected] | 858-257-2110
CONTENTS
Retail
Industrial
Multifamily
Sample Loan
Transactions
Availability Survey 5-Year Avg
NNN Rent Per SF $22.70 $20.87
Vacancy Rate 3.9% 4.5%
Vacant SF 5,503,064 6,264,222
Availability Rate 5.2% 5.8%
Available SF 7,236,319 8,079,544
Sublet SF 541,752 504,881
Months on Market 13.1 15.1
Sales Past Year 5-Year Avg
Sale Price Per SF $297 $263
Asking Price Per SF $326 $292
Sales Volume (Mil.) $1,133 $1,272
Cap Rate 5.8% 6.3%
Absorption, Deliveries – Actual and Forecasted
Lease Rates, Vacancy
Cap Rates and Sales
Demand Survey 5-Year Avg
12 Mo. Absorption SF 1,576,211 756,774
12 Mo. Leasing SF 3,744,698 4,129,252
Inventory Survey 5-Year Avg
Existing Buildings 13,593 13,554
Existing SF 139,489,097 138,545,379
12 Mo. Const. Starts 528,900 666,738
Under Construction 655,708 562,855
12 Mo. Deliveries 565,867 615,280
www.slatt.com
Cody CharfaurosCommercial Mortgage Banker4445 Eastgate Mall, Suite 200San Diego, CA [email protected] | 858-257-2110
SOURCE: Copyright CoStar Group, Inc., used under license. Survey of 14,295 retail properties.
SAN DIEGO MARKET UPDATE
RETAIL
Availability Survey 5-Year Avg
Rent Per SF $10.42 $9.04
Vacancy Rate 4.4% 6.2%
Vacant SF 6,365,492 8,998,728
Availability Rate 6.7% 9.4%
Available SF 9,741,110 13,719,477
Sublet SF 1,097,406 984,568
Months on Market 4.7 8.3
Sales Past Year 5-Year Avg
Sale Price Per SF $131 $116
Asking Price Per SF $153 $134
Sales Volume (Mil.) $864 $689
Cap Rate 5.9% 6.5%
Demand Survey 5-Year Avg
12 Mo. Absorption SF 159,183 1,304,399
12 Mo. Leasing SF 7,141,990 9,213,150
Inventory Survey 5-Year Avg
Existing Buildings 6,827 6,841
Existing SF 145,491,346 144,997,152
12 Mo. Const. Starts 530,471 472,911
Under Construction 415,899 353,465
12 Mo. Deliveries 983,561 470,096
www.slatt.com
SOURCE: Copyright CoStar Group, Inc., used under license. Survey of 6,827 industrial properties.
Absorption, Deliveries – Actual and Forecasted
Lease Rates, Vacancy
Cap Rates and Sales
Cody CharfaurosCommercial Mortgage Banker4445 Eastgate Mall, Suite 200San Diego, CA [email protected] | 858-257-2110SAN DIEGO MARKET UPDATE
INDUSTRIAL
Leasing Units Survey 5-Year Avg
Vacant Units 11,087 11,832
Vacancy Rate 3.5% 3.9%12 Mo. Absorption Units 2,387 3,319
Rents Survey 5-Year Avg
Studio Asking Rent $1,155 $1,023
1 Bed Asking Rent $1,330 $1,185
2 Bed Asking Rent $1,641 $1,472
3+ Bed Asking Rent $1,861 $1,674
Concessions 0.4% 0.5%
Sales Past Year 5-Year Avg
Sale Price Per Unit $210,117 $178,240
Asking Price Per Unit $220,117 $165,387
Sales Volume (Mil.) $2,839 $10,163
Cap Rate 4.8% 5.4%
Inventory in Units Survey 5-Year Avg
Existing Units 397,510 384,042
12 Mo. Const. Starts 2,838 3,912
Under Construction 8,496 6,574
www.slatt.com
SOURCE: Copyright CoStar Group, Inc., used under license. Survey of 397,510 multifamily units.
Absorption, Deliveries – Actual
Lease Rates, Vacancy
Cap Rates and Sales
Cody CharfaurosCommercial Mortgage Banker4445 Eastgate Mall, Suite 200San Diego, CA [email protected] | 858-257-2110SAN DIEGO MARKET UPDATE
MULTIFAMILY
BARRY SLATT MORTGAGE
SAN DIEGO LOAN TRANSACTIONS
LOAN AMOUNT BUILDING TYPE LOCATION LENDER TYPE BSM SERVICED
$8,000,000 Retail San Diego, CA Life Company Yes
$1,200,000 Retail San Diego, CA Life Company Yes
$1,400,000 Retail San Diego, CA Credit Union No
$24,000,000 Apartments San Diego, CA Life Company Yes
$7,700,000 Retail San Diego, CA Life Company Yes
$15,600,000 Office/Retail San Diego, CA Bank No
$11,500,000 Retail San Diego, CA Bank No
$3,200,000 Office San Diego, CA Life Company Yes
$4,000,000 Mixed Use San Diego, CA Life Company Yes
$1,700,000 Retail San Diego, CA Credit Union No
$750,000 Apartment San Diego, CA Bank No
$7,300,000 Office San Diego, CA Bank No
TOTAL LOAN AMOUNT
$91,750,000
Correspondant Lender
SAN FRANCISCO415.579.9931
BURLINGAME650.342.6755
SACRAMENTO916.565.7487
LOS ANGELES310.954.8200
WWW.SLATT.COM
WALNUT CREEK925.478.3411
SAN DIEGO858.257.2110