Presentation to the Commerce Committee

Trends in Connecticut Business
and Real Estate Activity
Rachel Gretencord
Director of Real Estate
March 9, 2012
Overview
 Intro to CERC
 Business and Real Estate Trends
 Tools for Business Decision-Making
Intro to CERC
The Connecticut Economic Resource Center, Inc.
is a nonprofit corporation that provides
objective research,
marketing and
economic development resources to
make Connecticut a more competitive
business environment.
CERC Services
Strategic counsel and implementation
to exceed communications goals
Expert researchers providing current
economic data and in-depth analyses
Comprehensive resources to support
business attraction, formation and
expansion
Real Estate Trends on SiteFinder
60
Lease Transactions
50
40
Sale Transactions
30
Total Transactions
20
0
Linear (Sale
Transactions)
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0
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n11
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r-1
1
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1
Oc
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Linear (Lease
Transactions)
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10
Level of transactional activity:
• Sales flat since 2010
• Lease transactions gradually increasing
• Average transaction size: 7,740 sf
60
50
Year over year:
• From April on, the number of
transactions in each month of 2011 was
higher than the same period in 2010.
• January 2012 is off to an even better
start.
Based on SiteFinder deactivated listings, Jan 2010-Jan 2012
40
30
20
10
0
Jan
Feb
Mar
Apr
May
2010
Jun
2011
Jul
Aug
2012
Sep
Oct
Nov
Dec
Some Economic Indicators?
16,000
14,000
Based on SiteFinder web traffic, Oct 2010-Feb 2012
CTSiteFinder.com
visits
12,000
10,000
8,000
6,000
CTSiteFinder.com
searches
4,000
2,000
12
Ja
n-
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t -1
1
1
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Ap
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1
Ja
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11
Oc
t -1
0
• The number of searches on
CTSiteFinder.com during Jan
and Feb 2012 is up 37% over
the 2011 monthly average and
12% over the highest month in
2011.
• New visitors comprise 58% of
web traffic on
CTSiteFinder.com.
18,000
Who’s Inquiring
Construction 9%
Finance/Insurance 4%
Information Technology 3%
Manufacturing 7%
Other 16%
Real Estate 3%
Retail/Wholesale 16%
Services 34%
Transportation/Distribution 3%
Unknown 5%
*Other also includes Government, Education, Communication, BioScience and Agriculture
*Retail/Wholesale also includes Internet Distribution and Import/Export
BRC and CLIC inquiries by Industry, 2011
Who’s Inquiring
Making Business Decisions Easier
SiteFinder Data Resources
Q: “I’m working on a
business plan and
budget for a new
restaurant. How can I
make sure my revenue
assumptions are
reasonable?”
A:
Demographic,
Labor Force,
and
Consumer
Spending
Reports
SiteFinder Data Resources
Q: “We’d like to move our headquarters to Stamford. Can our staff afford
to live there?”
A: Community
Data
SiteFinder Data Resources
Q: “We need to
expand our
manufacturing
facility to a
second
location. Are
there enough
skilled workers
here for me to
operate?”
A:
Demographic,
Labor Force,
and
Consumer
Spending
Reports
SiteFinder Services
Q: We have implemented high-tech, computer monitored safety standards, but
some people are sensitive about where we locate so we prefer to be away from
population centers or environmentally sensitive areas. We need 15 acres within ½
mile of a major interstate, zoned for 24-hour industrial use. We want to locate in a
town that supports our industry. And we want our search to remain confidential
until we’ve had a chance to talk to our employees about a possible relocation.
A: Active Needs Log
Tools for Success
 Objective research, marketing, and economic
development services
 Accessible demographic and location data
 Reliable resources for business decision-making
CERC’s Success Stories for 2011 include 93 companies
representing over 1,000 new jobs and more than 1.6 million
square feet of commercial space.
Contact Us
CERC
[email protected]
860.571.6212
Stephen MacKenzie
Senior Vice President
Rachel Gretencord
Director of Real Estate
Erron Smith
Economic Dev. Specialist
www.cerc.com
www.CTSiteFinder.com
@CERCInc, @CERCSiteFinder and @CT_BRC_CLIC