Archive for June 2009
Indy Metro Investment Criteria 1Q 2009
Source is Real Estate Research Corporation, respondent data.
| Indianapolis Investment Criteria | |||||||||
| Pre-Tax Yield (%) | Going-In Cap Rate (%) | Terminal Cap Rate (%) | |||||||
| RERC Estimate |
Midwest Region |
US | RERC Estimate |
Midwest Region |
US | RERC Estimate |
Midwest Region |
US | |
| CBD | 10.1 | 10.0 | 9.9 | 8.4 | 8.2 | 8.0 | 8.9 | 8.8 | 8.6 |
| Suburban | 10.7 | 10.4 | 10.3 | 8.9 | 8.5 | 8.3 | 9.3 | 9.1 | 8.9 |
| Warehouse | 9.9 | 9.8 | 9.8 | 8.5 | 8.3 | 8.1 | 8.9 | 8.9 | 8.6 |
| R&D | 10.3 | 10.2 | 10.2 | 8.7 | 8.6 | 8.3 | 9.2 | 9.2 | 8.9 |
| Flex | 10.3 | 10.1 | 10.2 | 8.8 | 8.5 | 8.4 | 9.2 | 9.1 | 8.9 |
| Regional Mall | 10.1 | 9.8 | 10.1 | 8.1 | 8.0 | 8.2 | 8.6 | 8.8 | 8.8 |
| Power Center | 10.3 | 10.0 | 10.3 | 8.6 | 8.2 | 8.3 | 9.1 | 8.9 | 8.9 |
| Neigh/Comm. | 10.1 | 10.3 | 10.4 | 8.5 | 8.5 | 8.4 | 8.9 | 9.0 | 9.0 |
| Apartment | 9.5 | 9.2 | 9.4 | 7.7 | 7.5 | 7.5 | 8.2 | 8.2 | 8.2 |
| Hotel | 12.2 | 11.8 | 11.6 | 10.0 | 9.6 | 9.4 | 10.5 | 10.2 | 10.0 |
| Average | 10.4 | 10.2 | 10.2 | 8.6 | 8.4 | 8.3 | 9.1 | 9.0 | 8.9 |
Indy Metro Transactions 1Q 2009
| Source is Real Estate Research Corporation, aggregate transaction data.Indianapolis, IN Transaction Data – 1Q 2009 – 12 Month Trailing | |||||
| < $5 million | > $5 million | All | Midwest Regional Total | National Total | |
| Office | |||||
| Volume (millions) | $6 | $135 | $141 | $6,067 | $52,458 |
| Size-Weighted Avg. ($/SF) | $56 | $123 | $117 | $140 | $233 |
| Price-Weighted Avg. ($/SF) | $71 | $130 | $127 | $196 | $479 |
| Median ($/SF) | $68 | $128 | $128 | $97 | $134 |
| Industrial | |||||
| Volume (millions) | $7 | $252 | $258 | $4,485 | $22,914 |
| Size-Weighted Avg. ($/SF) | $60 | $48 | $49 | $56 | $71 |
| Price-Weighted Avg. ($/SF) | $73 | $54 | $55 | $147 | $130 |
| Median ($/SF) | $43 | $47 | $46 | $46 | $73 |
| Retail | |||||
| Volume (millions) | $15 | $54 | $69 | $4,335 | $25,529 |
| Size-Weighted Avg. ($/SF) | $173 | $86 | $97 | $118 | $141 |
| Price-Weighted Avg. ($/SF) | $205 | $133 | $149 | $232 | $265 |
| Median ($/SF) | $199 | $153 | $199 | $92 | $121 |
| Apartment | |||||
| Volume (millions) | $10 | $177 | $187 | $3,048 | $28,816 |
| Size-Weighted Avg. ($/unit) | $26,958 | $43,844 | $42,445 | $61,412 | $89,086 |
| Price-Weighted Avg. ($/unit) | $40,384 | $47,625 | $47,244 | $109,277 | $181,791 |
| Median ($/unit) | $28,654 | $42,849 | $42,840 | $47,000 | $80,771 |
| Hotel | |||||
| Volume (millions) | - | - | - | $756 | $7,940 |
| Size-Weighted Avg. ($/unit) | - | - | - | $93,706 | $133,574 |
| Price-Weighted Avg. ($/unit) | - | - | - | $322,713 | $293,316 |
| Median ($/unit) | - | - | - | $50,000 | $72,715 |
| Source: RERC | |||||
