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Hampton Roads, Virginia

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Harvey Lindsay
Last Updated: 7-Jan-2007		 Market Overview
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Market Research

* Click on each category for a detailed definition.
 
Population   Employment
Total Est. 2006 1,657,276   Total Est. 2006 585,758
Population Growth Index - 2011 N/A   Office Index N/A
Income Index N/A   Health Services Index N/A
Affordability Index N/A   Government Index N/A
Education Index N/A   Retail Services Index N/A
Age Index N/A   Wholesale Index N/A
(Rent/square foot/year) Low High Effective Avg. Vacancy Investment Yield
Downtown Office
New Construction (AAA) N/A N/A N/A N/A N/A
Class A (Prime) $ 17.00 $ 25.00 $ 20.50 8.0% N/A
Class B (Secondary) $ 12.00 $ 16.50 $ 14.00 13.0% N/A
 
Suburban Office
New Construction (AAA) $ 18.00 $ 24.00 $ 19.00 33.0% N/A
Class A (Prime) $ 15.00 $ 22.00 $ 18.00 7.5% N/A
Class B (Secondary) $ 10.50 $ 18.00 $ 13.50 13.5% N/A
 
Industrial
Bulk Warehouse $ 3.75 $ 7.50 $ 4.75 7.0% N/A
Manufacturing $ 4.75 $ 10.00 $ 6.00 5.0% N/A
High Tech / R&D $ 6.00 $ 13.00 $ 8.50 5.0% N/A
 
Retail
Downtown $ 8.50 $ 18.00 $ 16.00 5.0% N/A
Neigborhood Service Centers $ 10.00 $ 18.00 $ 14.00 8.0% N/A
Community Power Center $ 14.00 $ 31.00 $ 18.75 9.0% N/A
Regional Malls $ 21.00 $ 30.00 $ 25.00 9.0% N/A

Development Land Low (Price/Acre) High (Price/Acre)
Office in CBD (Per Buildable SF) $ 12 $ 35
Land in Office Parks $ 150,000 $ 350,000
Land in Industrial Parks $ 70,000 $ 250,000
Office/Industrial Land - Non-park $ 100,000 $ 300,000
Retail/Commercial Land $ 350,000 $ 1,500,000
Residential $ 70,000 $ 600,000

 

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