Brian Gordon Market Quotations

Only 35 to 40 percent of future projects are expected to move forward by 2010. There is insufficient market demand to absorb all of the units currently in the development pipeline.

From a development standpoint, the perceptions of the market are as important as the economics, and any activity to promote the industry is probably important to alleviate market concerns.

There's a lot of speculation and a lot of investment activity going on in the vacant land market here and that drives prices north. There's concern over the lack of developable land so they're willing to pay premiums. Residential developers are looking to acquire as much land as they can to feed their pipeline for future development.

Despite above average market expansions through the first quarter of 2006, the office sector held its ground as demand nearly matched new supply. The amount of space that came online during the current quarter matched last year's record-setting quarterly average, and was well above the nearly one-half million square feet quarterly average posted during the past decade.

It's a mature market area that hasn't seen a lot of new investment. The low vacancy rates are being driven by a lack of new inventory and relatively strong densities. As a result, new retail centers are performing well in the area.