| New Year?s resolutions aren't enough; we want predictions. That's why we talked to Grubb & Ellis regional honcho Paul Adkins for his thoughts on 2011. |
| He just got back from a trip to Jamaica(his kids say vacations there should be the new normal), so don't be surprised by his sunny outlook. He tells us while the 1.3M SF of new office deliveries coming up this year will present a challenge for Baltimore'smarket, he expects job growth in healthcare (think Johns Hopkins, University of Maryland, and Mercy Hospital) to result in about 400k SF of positive absorption and a marginal decrease in vacancy for the metro area. Paul predicts rents in Class-A and B office properties should inch up by about 25 cents per SF and expects to see stabilization in industrial assets. He also thinks owners of stabilized properties will take advantage of low cap rates in the sales market due to plentiful investment capital. |
ROOTS ROCK REAL ESTATE
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Mercy Hospital, Paul Adkins
