Market Insight

National Snapshot

ISM Manufacturing Index
Tuesday, February 02, 2010

The Institute for Supply Management’s purchasing managers index rose in January to 58.4, its highest level since August 2004. Index values above 50 indicate an expanding manufacturing sector, while values below 50 indicate contraction. The index is a composite of nine other indexes including new orders, production, supplier delivery times, backlogs, inventories, prices, employment, export orders and import orders. The production index increased to 66.2, its highest level since April 2004 while new orders, a leading indicator of production, rose to 65.9. Inventories remained below 50, a sign that production activity will remain strong for the next few months as manufacturers replenish their depleted inventories. A recovery in the manufacturing sector will boost demand for manufacturing properties, and it translates into more goods flowing through corporate supply chains, which will support demand for warehouse/distribution space.

Source: Institute for Supply Management, Grubb & Ellis

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Financial Update

Research Reports

2010 CRE Forecast
Wednesday, January 06, 2010
The Great Recession, the worst downturn since the Great Depression, most likely passed into history last fall.

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2010 Investment Forecast
Wednesday, January 06, 2010
Outstanding commercial real estate loans at commercial banks fell by more than 4 percent during 2009, and new issuance of commercial mortgage-backed securities was nonexistent until late in the year.

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2010 Office Forecast
Monday, January 04, 2010
For tenants seeking office space, 2009 was the best time in years to lock in a long-term lease at a low rental rate, and the deals only got better as the year progressed.

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2010 Retail Forecast
Sunday, January 03, 2010
Retail sales appear to have bottomed out and even increased slightly late in 2009, but they are unlikely to bounce back quickly.

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2010 Industrial Forecast
Saturday, January 02, 2010
The vacancy rate, which began increasing in the fourth quarter of 2007, rose steadily through 2008 and 2009, ending the year at 10.7 percent.

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