C ommercial O ffice S potlight NAI GLOBAL
www.marej.com
Mid Atlantic Real Estate Journal — Commercial Office Spotlight — November 22 - December 12, 2019 — 9C
Inside: NAI Emory Hill............................................................................................................................................. 10C NAI CIR......................................................................................................................................................... 11C NAI Keystone Commercial & Industrial, LLC. .......................................................................................... 12C NAI Summit.................................................................................................................................................. 13C NAI Mertz. ...............................................................................................................................................14-16C Message from the president & CEO NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global offices deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi- market challenges. “Looking at the office side of things of the Mid-Atlantic area, Northern Virginia remains as the Washington, D.C. region’s largest office market with over 150 million sq. ft. of inventory,” said Jay Olshonsky, FRICS, SIOR, CEO & president of NAI Global, “This region is projected to continue to grow over the next several years.” The overall Meadowlands (Northern New Jersey) industrial submarket recorded 1,005 industrial and flex buildings of 20,000 sf or larger. The vacancy rate is currently 3.5% and the average asking rate is currently $10.84 psf nnn. Leasing vacancies in retail properties in the NY metro area seem to have stabilized over the past three years around 4%. Retail investment in the NY metro area continues to show strength as annual sales volume have been slowly increasing since 2014. “Although there was a slight slowdown in projects completed last quarter, rising rents continue to signal a healthy real estate environment,” Olshonsky said. “Investors can remain confident with a number of Mid-Atlantic major projects on the horizon,” he added. Jay Olshonsky
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