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Kinsey Associates Inc. Completes Transaction with Circle K

Kinsey Associates, Inc. successfully completed a land sale from Jim Kinsey Jr Trust to Circle K Stores Inc. The property sold is a 1.3 AC commercially zoned piece of vacant land at 819 SE 26th St. in Cape Coral, at the intersection of Veterans Memorial Pkwy and Country Club Dr. Brandon Kinsey negotiated the transaction for both buyer and seller.


Kinsey Associates Inc. Completes Transaction for 1.1 AC on North Captiva Island

DEAL CLOSED

Sea Urchins North Captiva LLC purchased a 1.1 AC commercially zoned lot on North Captiva Island from Kinsey Philip H Tr + Roberta G Kinsey Tr.  The purchase was for 0,000.  Brandon Kinsey negotiated the transaction for both Buyer and Seller.


Market Trend: Southwest Florida Industrial Deliveries, Construction and Inventory

December 5, 2014

There was no significant new industrial space completed in the Southwest Florida market area for the second consecutive quarter. One building totaling 17,000 square feet completed in the first quarter 2014.
There was no significant Industrial space under construction at the end of the third quarter 2014.

The only delivery in 2014 has been 16125 Performance Way, a 17,000-square-foot facility that delivered in first quarter 2014.

Total Industrial inventory in the Southwest Florida market area amounted to 47,108,109 square feet in 3,603 buildings as of the end of the third quarter 2014. The Flex sector consisted of 6,128,467 square feet in 378 projects. Within the Industrial market there were 159 owner-occupied buildings accounting for 3,284,052 square feet of Industrial space.

This trend is compared to U.S. National Industrial deliveries and construction, which saw 206 buildings totaling 30.84 million square feet complete construction, with an additional 148.9 million square feet of industrial space still under construction at the end of the third quarter. 6100 Garfield Ave is a 620,000-square-foot facility that delivered this quarter in the Los Angeles market, while the 1.7 million-square-foot RidgePort Logistics Center in the Chicago market is still under way. Total industrial inventory in the U.S. market totaled almost 21.08 billion square feet in more than 621,000 industrial buildings at the end of Q3 2014, including almost 71,200 owner-occupied properties.

The information in this news report is based on CoStar’s Third Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida Retail Vacancy Decreases to 7.3%

Net Absorption Positive 143,533 SF in the Quarter

The Southwest Florida retail market experienced a slight improvement in market conditions in the third quarter 2014.

The vacancy rate went from 7.5% in the previous quarter to 7.3% in the current quarter. Net absorption was positive 143,533 square feet, and vacant sublease space increased by 6,585 square feet. In second quarter 2014, net absorption was positive 50,971 square feet.

Tenants moving into large blocks of space in 2014 include: Planet Fitness moving into 24,454 square feet at 1410-1502 Del Prado Blvd. S; Deromo’s Gourmet Market moving into 15,200 square feet at 26795-26851 S. Bay Dr; and Flooring World of Naples moving into 15,000 square feet at 6281-6295 Naples Blvd.

Quoted rental rates increased from second quarter 2014 levels, ending at .98 per square foot per year.

A total of 5 retail buildings with 36,295 square feet of retail space were delivered to the market in the quarter, with 241,166 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. National Retail vacancy rate, which decreased to 6.3% from the previous quarter, with net absorption positive 26.48 million square feet in the third quarter. Average rental rates increased to .84, and 542 retail buildings delivered to the market totaling more than 13.9 million square feet.

The information in this news report is based on CoStar’s Third Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida Industrial Deliveries, Construction and Inventory

August 14, 2014

During the second quarter 2014, no new industrial space was completed in the Southwest Florida market area. This compares to one building totaling 17,000 square feet that were completed in the first quarter 2014. 

There was no Industrial space under construction at the end of the second quarter 2014.The only delivery in 2014 has been 16125 Performance Way, a 17,000-square-foot facility that delivered in first quarter 2014 and is now 0% occupied.

Total Industrial inventory in the Southwest Florida market area amounted to 47,105,729 square feet in 3,602 buildings as of the end of the second quarter 2014. The Flex sector consisted of 6,128,007 square feet in 378 projects. Within the Industrial market there were 135 owner-occupied buildings accounting for 2,854,883 square feet of Industrial space.

This trend is compared to U.S. National Industrial deliveries and construction, which saw 229 buildings totaling 28.56 million square feet complete construction, with an additional 119.7 million square feet of industrial space still under construction at the end of the second quarter. The 2.1 million-square-foot 4500 S. Dobson Rd. delivered in the Phoenix market, while the 1.8 million-square-foot D1X Mod 2 building was still underway in the Portland market. Total industrial inventory in the U.S. market totaled 20.96 billion square feet in more than 618,000 buildings at the end of the second quarter 2014, including more than 69,000 owner-occupied projects.

The information in this news report is based on CoStar’s Second Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida Office Vacancy Down to 12.7%

The Southwest Florida Office market ended the second quarter 2014 with a vacancy rate of 12.7%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 51,754 square feet in the second quarter. That compares to positive 126,335 square feet in the first quarter 2014. Vacant sublease space increased in the quarter, ending the quarter at 26,387 square feet.

Tenants moving into large blocks of space in 2014 include: The Hertz Corporation moving into 60,000 square feet at 3181 N Bay Village Ct S; Aragon Pools moving into 19,000 square feet at 222 Industrial Blvd; and RGN-Naples II, LLC moving into 11,100 square feet at 4851 Tamiami Trl N.

Rental rates ended the second quarter at .51, a decrease over the previous quarter.

A total of one building delivered to the market in the quarter totaling 2,200 square feet, with 280,442 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. National Office vacancy rate, which decreased to 11.4% from the previous quarter, with net absorption positive 24.53 million square feet in the second quarter. Average rental rates increased to .22, and 217 buildings delivered to the market totaling almost 11.4 million square feet.

The information in this news report is based on CoStar’s Second Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida Office Deliveries, Construction and Inventory

During the first quarter 2014, one office building totaling 5,988 square feet were completed in the Southwest Florida market area. This compares to one building totaling 3,869 square feet that were completed in the fourth quarter 2013.

There were 69,269 square feet of office space under construction at the end of the first quarter 2014.

The only delivery in 2014 has been 1800 S McCall Rd, a 5,988-square-foot facility that delivered in first quarter 2014 and is now 100% occupied.

The largest projects underway at the end of first quarter 2014 were 2390 Vanderbilt Beach Rd, a 44,700-square-foot building with 100% of its space pre-leased, and 980 1st Ave, a 18,165-square-foot facility that is 18% pre-leased.

Total office inventory in the Southwest Florida market area amounted to 31,782,595 square feet in 3,184 buildings as of the end of the first quarter 2014. The Class-A office sector consisted of 3,614,047 square feet in 69 projects. Within the Office market there were 63 owner-occupied buildings accounting for 1,018,011 square feet of office space.

This trend is compared to U.S. National Office deliveries and construction, which saw 321 buildings totaling 16.1 million square feet complete construction, with an additional 90.1 million square feet of office space still under construction at the end of the first quarter. 50 Northern Ave., a 550,000-square-foot facility delivered in the Boston market, while the 3.04 million-square-foot One World Trade Center in New York City is still underway. Total office inventory in the U.S. market totaled almost 10.4 billion square feet in more than 499,500 buildings at the end of the first quarter 2014, including some 20,000 owner-occupied buildings accounting for 884.5 million square feet of office space.

The information in this news report is based on CoStar’s First Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida Retail Vacancy Steady at 7.3%

The Southwest Florida retail market did not experience much change in market conditions in the first quarter 2014.

The vacancy rate went from 7.3% in the previous quarter to 7.3% in the current quarter. Net absorption was positive 89,876 square feet, and vacant sublease space increased by 2,289 square feet. In fourth quarter 2013, net absorption was positive 248,038 square feet.

Tenants moving into large blocks of space in 2014 include: Planet Fitness moving into 24,454 square feet at 1502B Del Prado Blvd S; DeRomo’s Gourmet Market moving into 15,200 square feet at 26811 South Bay Dr; and Fortunoff Backyard Store moving into 10,099 square feet at 11521 S Cleveland Ave.

Quoted rental rates decreased from fourth quarter 2013 levels, ending at .50 per square foot per year.

A total of 6 retail buildings with 47,650 square feet of retail space were delivered to the market in the quarter, with 169,729 square feet still under construction at the end of the quarter.

This trend is compared to the U.S. National Retail vacancy rate, which decreased to 6.5% from the previous quarter, with net absorption positive 24.41 million square feet in the first quarter. Average rental rates increased to .63, and 779 buildings delivered to the market totaling almost 12.5 million square feet.

The information in this news report is based on CoStar’s First Quarter 2014 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Market Trend: Southwest Florida’s Industrial Deliveries, Construction and Inventory

During the fourth quarter 2013, one Industrial building totaling 8,925 square feet was completed in the Southwest Florida market area. This compares to one building totaling 185,000 square feet completed in the second quarter 2013.

There were 17,000 square feet of Industrial space under construction at the end of the fourth quarter 2013.

Some of the notable 2013 deliveries include: 6875 Arthrex Commerce Dr, a 185,000-square-foot facility that delivered in second quarter 2013 and is now 100% occupied, and 3561 Plover Ave, an 8,925-square-foot building that delivered in fourth quarter 2013 and is now 100% occupied.

The only project under construction at the end of fourth quarter 2013 was 16125 Performance Way, a 17,000-square-foot building with 0% of its space pre-leased.

Total Industrial inventory in the Southwest Florida market area amounted to 46,999,669 square feet in 3,595 buildings as of the end of the fourth quarter 2013. The Flex sector consisted of 6,124,233 square feet in 378 projects. Within the Industrial market there were 129 owner-occupied buildings accounting for 2,734,227 square feet of Industrial space.

This trend is compared to U.S. National Industrial deliveries and construction, which saw 150 buildings totaling 18.5 million square feet complete construction, with an additional 98.46 million square feet of industrial space still under construction at the end of the fourth quarter. The 1.62 million-square-foot Home Depot Distribution Center delivered in the Chicago market, while a 2.1 million-square-foot manufacturing building was still underway in the Phoenix market. Total industrial inventory in the U.S. market totaled 20.87 billion square feet in almost 615,000 buildings at the end of the fourth quarter 2013, including almost 68,000 owner-occupied projects.

The information in this news report is based on CoStar’s Fourth Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.


Jim Kinsey and Kinsey Associates, Inc. wins CoStar’s prestigious Power Broker Award in 2011

Each year, CoStar Group recognizes the top commercial real estate brokerage firms and brokers with the prestigious Power Broker Awards.

As the largest professional research organization serving the commercial real estate industry, CoStar is uniquely positioned to track transactions and identify the top players across the U.S. Every February, CoStar tallies the commercial real estate sales and lease transactions that closed during the previous year then presents awards to the firms and individuals who achieved the highest volume of sales and leases in over 90 markets across the country.