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Just Released: IRR's Mid-Year 2020 Viewpoint Local Market Reports Aug 31, 2020

CRE Market Could Recover as soon as 18 Months, with Industrial and Multifamily Leading the Way,
According to Integra’s Mid-Year Market Reports
Integra Releases 259 Local Market Reports that Explore Commercial Real Estate Trends Across Five Property Sectors:
Office, Industrial, Retail, Hospitality and Multifamily

IRR's Mid-Year 2020 Viewpoint Reports


DENVER, CO— (August 31, 2020) — Integra Realty Resources (IRR), one of North America’s largest independent commercial real estate valuation and consulting firms, today announced its highly anticipated local Mid-Year Market Reports—a supplemental update to its flagship Viewpoint 2020 report released in January—are now available.

Addressing the uncertainty in the current commercial real estate market, Anthony M. Graziano, MAI, CRE, Chairman and CEO of Integra Realty Resources, said, “The headline problem is unemployment and interruption of personal expenditures. While most real estate sectors have taken a significant hit, the brunt of the pandemic’s impact is falling on the hospitality and retail sectors. One bright spot is the industrial real estate sector, fueled by rising e-commerce demand. The biggest question is, when will the market recover from this pandemic-induced recession? The good news is it could be as little as 18 months, with industrial and multifamily leading the way.”

IRR has released 259 local market reports covering 64 U.S. markets that can be downloaded for free at http://www.irr.com/research. The local reports provide a detailed overview of the local commercial real estate market across five key real estate sectors including office, industrial, retail, hospitality and multifamily. To access a local office’s Local Market Report, just visit the research section of the respective local office’s webpage on irr.com.  For example, the San Francisco Mid-Year Market Reports can be found at https://www.irr.com/sanfrancisco/research

Below are a few highlights from the more than 250 local market reports released.

IRR VIEWPOINT MID-YEAR 2020 REPORT HIGHLIGHTS

  • Atlanta
    • Industrial: Demand Outweighs Supply
    • Multifamily: Atlanta Outshines SE Region 
    • Office: Near-Term Uncertainty but Long-Term Stability
    • Retail: Recovery Eminent Despite Rising Vacancy
  • Bay Area
    • Industrial: Decreasing Demand and Increasing Supply
    • Multifamily: Uncertainty Leads to Declining Sales
    • Office: Positioned for Stability Over the Long-Term
    • Retail:  Remains Tight Despite Increased Vacancies
       
  • Boston
    • Industrial: Demand Keeps Up with Supply
    • Multifamily: 24 Months Until Market Recovers
    • Office: Office Rent Recovery Probable by 2022
    • Retail: Increasing Vacancies Followed by Probable Recovery in Mid-2021
       
  • Chicago
    • Industrial: COVID Accelerates Industrial Growth Trend
    • Multifamily: Suburbs Outshine Downtown Market
    • Office: Downtown Market Remains Vibrant
    • Retail: Resetting and Realigning in the Face of COVID
  • Dallas
    • Industrial: Remains Healthy During Pandemic
    • Multifamily: Rents Declining while Occupancy Remains Unchanged
    • Office: Anticipated Landlords Concessions Should Maintain Occupancy
    • Retail: Large-Scale Development on Pause
       
  • Houston
    • Industrial: Positioned to Weather the Storm
    • Multifamily: Market Remains Soft with Q2’20 Vacancies at 10.5%
    • Office: Recovery Hampered by Oil Slump and Pandemic
    • Retail: Declining Rents and Increasing Vacancies over the Next 12 Months
       
  • Los Angeles
    • Industrial: Slumping China Trade Favors Inland Empire Industrial over LA’s Ports
    • Multifamily: Recovery Unclear
    • Office: Class B Properties May Decline Less Than Class A
    • Retail:  Substantial Declines for the Foreseeable Future
       
  • Northern New Jersey
    • Industrial: Strong Demand Outstrips Industrial Supply
    • Multifamily: Apartments Remain a Bright Spot
    • Office: Cautious Optimism for Market Stability
    • Retail: Decline of Regional Malls Further Accelerated by Pandemic
       
  • Washington DC
    • Industrial: Demand Remains Strong
    • Multifamily: Remains Stable and Viable Amidst Turmoil
    • Office: Proximity to Federal Government Bodes Well for Long-Term Prospects
    • Retail: Stronger than Most During Pandemic

For more information about IRR’s 2020 Mid-Year Reports, or to access additional IRR research, please visit the company’s online research section at www.irr.com/research/

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Each IRR office is led by an MAI-designated Senior Managing Director, industry leaders who have over 25 years, on average, of commercial real estate experience in their local markets.
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Fax: 401-273-7410 Syracuse, NY Syracuse, NY 812 State Fair Blvd.
Suite 1
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Fax: 315-422-5295 Hartford, CT Hartford, CT 386 Main Street
Middletown, CT 06457
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Suite 306
Toms River, NJ 08753
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Fax: 732-505-9498 Philadelphia, PA Philadelphia, PA 1515 Market Street
Suite 800
Philadelphia, PA 19102
Phone: 610-238-0238 Wilmington, DE Wilmington, DE IRR-Corporate
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Fax: 646-424-1869 Baltimore, MD Baltimore, MD
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Washington, DC 20003
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Fax: 646-424-1869 Pittsburgh, PA Pittsburgh, PA 3535 Boulevard of the Allies
Pittsburgh, PA 15213
Phone: 412-683-2211
Fax: 412-683-2220 Cleveland, OH Cleveland, OH 22730 Fairview Center Drive
Suite 210
Fairview Park, OH 44126
Phone: 330-659-3640
Fax: 330-659-3640 Columbus, OH Columbus, OH 6233 Riverside Drive
Suite 2N
Dublin, OH 43017
Phone: 614-764-8040
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Suite B
Chesterfield, MO 63005
Phone: 636-898-6533
Fax: 636-530-0046 Chicago, IL Chicago, IL 1 N Franklin St
Suite 3010
Chicago, IL 60606
Phone: 312-565-0977
Fax: 312-565-3436 Minneapolis, MN Minneapolis, MN 7301 Ohms Lane
Suite 190
Minneapolis, MN 55439
Phone: 612-339-7700
Fax: 612-339-7937 Nashville, TN Nashville, TN 1894 General George Patton Drive
Suite 300
Franklin, TN 37067
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Fax: 615-628-8286 Richmond, VA Richmond, VA 1805 Chantilly Street
Richmond, VA 23230
Phone: 804-346-2600
Fax: 804-747-9140 Greensboro, NC Greensboro, NC 5411-A Friendly Avenue
Greensboro, NC 27410
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Fax: 336-676-6025 Raleigh, NC Raleigh, NC 8382 Six Forks Road
Suite 200
Raleigh, NC 27615
Phone: 919-847-1717
Fax: 919-847-1714 Charlotte, NC Charlotte, NC 214 W. Tremont Ave.
Suite 200
Charlotte, NC 28203
Phone: 704-376-0295
Fax: 704-342-3704 Columbia, SC Columbia, SC 1623 Lake Murray Blvd.
Columbia, SC 29212
Phone: 803-772-8282
Fax: 803-772-0087 Cincinnati/Dayton, OH Cincinnati/Dayton, OH 8241 Cornell Road
Suite 210
Cincinnati, OH 45249
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Fax: 513-561-2881 Detroit, MI Detroit, MI 400 W. Maple Road
Suite 100
Birmingham, MI 48009
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Fax: 248-540-8239 Indianapolis, IN Indianapolis, IN 4981 North Franklin Road
Indianapolis, IN 46226
Phone: 317-546-4720
Fax: 317-546-1407 Louisville, KY Louisville, KY 13000 Equity Place
Suite 105
Louisville, KY 40223-3976
Phone: 502-452-1543
Fax: 502-451-3657 Houston, TX Houston, TX 9225 Katy Freeway
Suite 206
Houston, TX 77024
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Fax: 713-973-2028 San Antonio, TX San Antonio, TX 909 NE Loop 410
Suite 632
San Antonio, TX 78216
Phone: 210-446-4444 Caribbean | Puerto Rico Caribbean | Puerto Rico Vig Tower 1225 Ave Ponce De Leon
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Phone: 212-575-2935
Fax: 646-424-1869
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