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Midyear commercial real estate report for the Treasure Valley

Treasure Valley commercial real estate continued to lose tenants in the first half of 2009, according to a new report from Colliers International.

Vacancy rates went up as absorption rates and prices decreased in office, retail and industrial buildings. But the report points out a few bright spots.

For office space, downtown Boise is healthy and will likely remain so. Vacancy rose just slightly, from 9.5 percent at the end of 2008 to 10.6 percent in mid 2009.

And in retail, Eagle Road has become the “first choice for most retailers,” with the Eagle and Ustick intersection especially attracting new tenants.

Dollar stores, fast food, check cashing and cell phone dealers were actively looking for space.

Action in industrial development in the future will largely be attributable for “build-to-suit projects for companies with specific needs that can’t be satisfied by existing sites,” the report said.

The investment market is at a standstill, according to the report, because of lack of liquidity, income erosion and a disconnect between buyer and seller expectations.

“Owners are getting pummeled from multiple sides, cap rates are increasing and income is dropping as tenants are either failing or asking for rate reductions in their rent,” the report said. “There is money out there for good deals. Buyers tend to be enamored with the homerun deals, instead of focusing on doubles and triples that are available.”

“There appear to be more REITS and private groups raising equity to take advantage of future market conditions,” it continued. “Those investors that have access to capital and patience to endure more stringent lending standards should see great opportunities in the months and years ahead.”

July 27, 2009July 26, 2009 sundancecompany blackeagle center, Boise Commercial Real Estate, Boise Office Space, Boise Retail Space, The Sundance Company

Boise Commercial Real Estate – Mallard Place, Blackeagle Center

Mallard Place is a 44,703 square foot, U-shaped, single-story concrete tilt-up buildings that is zoned C-3 and feature individual tenant entrances and generous signage areas. Openings are provided in the rear of the building to accommodate service doors for tenants requiring storage areas in their space.

Mallard Place is located in the high profile Blackeagle Center, a 45-acre business park developed by The Sundance Company in Boise, Idaho. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Mallard Place
9100 W. Blackeagle Dr.
Boise, ID 83709

Site Area: 3.98 acres
Zoning: C-3D
Year Built: 1998
Project Size: 44,703 square feet
Number of Floors: One
Parking: 5.3/1,000
Construction: Reinforced concrete tilt-up with 6-inch square steel columns on 29’/30’ grid
Roof: Single ply EPDM roofing system on 3/8” gyp board over 3/4” plywood sheathing over Trus-Joist framing system
Floor Construction: 4” reinforced concrete slab
HVAC: 5-ton gas-fired rooftop units. 100,000 BTU; 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 16 feet clear in warehouse areas; 10 feet in office areas
Restrooms: Common restrooms in core areas
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs in Boise, Meridian, Nampa, and the greater Treasure Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime Boise and Meridian locations.

Please check out The Sundance Company website to view property photos, search for office space or learn more about Sundance’s start-to-finish capabilities. If you prefer to talk to someone in person about your commercial real estate needs, then just give us a call at our Boise office, (208) 322-7300.

July 22, 2009July 19, 2009 sundancecompany blackeagle center, Boise Commercial Real Estate, Boise Office Space, Boise Retail Space, The Sundance Company

Boise Commercial Real Estate – Quail Court, Blackeagle Center

Quail Court is a two-story concrete tilt-up construction featuring abundant parking at over 5/1,000 s.f. Attractive landscaping and well as a wonderful common foyer area make Quail Court an ideal office space for Treasure Valley businesses. First floor tenants have individual exterior entrances and there is extensive space for signage on exterior of building.

Quail Court is located in the high profile Blackeagle Center, a 45-acre business park developed by The Sundance Company in Boise, Idaho. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Quail Court
1500 South Eagle Flight Way
Boise, ID 83709

Site Area: 3.31 acres
Zoning: C-3D
Year Built: 1999
Project Size: 46,176 square feet, each
Number of Floors: Two
Parking: 6.7/1,000
Construction: Tilt-up, pre-cast concrete panels with 6” steel columns on a 35’x42’ and 35’x28’ grid
Exterior: Reinforced concrete tilt-up panels
Roof: Single-ply EPDM membrane roofing system
Floor Construction: Ground floor – 4” reinforced concrete slab; Second floor –3 ½ ”–5” of concrete over corrugated steel pan
HVAC: 5-ton gas-fired rooftop units – 100,000 BTU, 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10 feet finished height
Elevator: Dover, 2,000 lb.; Capacity, 100 feet/minute
Restrooms: First floor – common restrooms
Second floor – common restrooms in central core area
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

July 20, 2009July 19, 2009 sundancecompany blackeagle center, Boise Commercial Real Estate, Boise Office Space, Boise Retail Space, The Sundance Company

Boise Commercial Real Estate – Lynx Center, Blackeage Center

Lynx Center is a 46,650 square foot, two-story, concrete tilt-up building with C-3 zoning. It is visible from Overland Road and has access from S. Kimball Way and S. Eagle Flight Way. The ground-floor tenants have separate entrances with exterior signage in designated locations on the building.

Lynx Center is located in the high profile Blackeagle Center, a 45-acre business park developed by The Sundance Company in Boise, Idaho. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Lynx Center
9300 W Overland
Boise, ID 83709

Site Area: 3.36 acres
Zoning: C-3D
Year Built: 1998
Project Size: 46,176 square feet
Number of Floors: Two
Parking: 5.7/1,000
Construction: Tilt-up, pre-cast concrete panels with 6” steel columns on a 35’x42’ and 35’x28’ grid
Exterior: Reinforced concrete tilt-up panels
Roof: Single-ply EPDM membrane roofing system
Floor Construction: Ground floor – 4” reinforced concrete slab; Second floor –3 ½ ”–5” of concrete over corrugated steel pan
HVAC: 5-ton gas-fired rooftop units – 100,000 BTU, 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10 feet finished height
Elevator: Dover, 2,000 lb.; Capacity, 100 feet/minute
Restrooms: First floor – in tenant’s suites. Second floor – common restrooms in central core area
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

July 15, 2009July 12, 2009 sundancecompany blackeagle center, Boise Commercial Real Estate, Boise Office Space, Boise Retail Space, The Sundance Company

Boise Commercial Real Estate – Pheasant Place, Blackeagle Center

Pheasant Place is located in the high profile Blackeagle Center, a 45-acre business park developed by The Sundance Company in Boise, Idaho. Pheasant Place is shell and core complete; divisible to 1,500 square feet. Generous TI allowance; finish spaces to tenant specifications. It is conveniently located at the corner of Maple Grove and Overland Roads. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Pheasant Place
9169 W. Blackeagle Drive
Boise, ID 83709

Site Area: 1.07 acres
Zoning: C-3D
Year Built: 2003
Project Size: 12,369 square feet
Number of Floors: One
Parking: 5.0 /1,000
Construction: Steel Frame
Roof: Single ply EPDM roofing system on 3/8” gyp board over 3/4” plywood sheathing over Trus-Joist framing system
Floor Construction: 4” reinforced concrete slab
HVAC: 5-ton gas-fired rooftop units. 100,000 BTU; 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10’ finished height
Restrooms: Undetermined; waiting build outs
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park

July 13, 2009July 12, 2009 sundancecompany Boise Commercial Real Estate, Boise Office Space, Boise Retail Space, commercial real estate, The Sundance Company

Boise Commercial Real Estate – South Cole Annex

The South Cole Annex building is a manufacturing/warehouse facility with generous office space, open workspaces and two lunchrooms.With a convenient location near the Cole/Overland I-84 Interchange in Boise, Idaho, this property offered by The Sundance Company can be an ideal office space for companies looking to enter or relocate in the Treasure Valley market.

South Cole Annex
2925 S Cole Rd
Boise, ID 83709

Site Area: 5.1 acres; 250 feet west frontage of South Cole Rd.
Additional Land: 5.56 acres
Zoning: M-1
Stories: One
Project Size: 54,000 square feet
Construction: Steel frame with ribbed metal siding exterior.
Age: Built in 1989 with a 24,000 SF expansion in 1995.
Roof: Flat, single ply roofing membrane over plywood sheathing.
Ceiling Clear Height: 18’ minimum, 24’ maximum warehouse; 8’ in offices.
Floor Construction: 6” concrete slab
Windows: Double-pane, thermo-glazing in offices.
Warehouse Doors: Dock-high and 12’x14’ overhead loading doors.
Insulation: 9” batt insulation in roof; 3½” batt insulation to exterior walls.
Offices: Commercial carpet & vinyl; acoustical ceiling, fluorescent lights, standard partitioning and finished restrooms.
Warehouse Lights: Suspended tube fluorescent and suspended bulb.
Heating/Cooling: Warehouse has suspended space heat. Office has package electric forced-air and central air conditioning.
Parking: 125 spaces, paved and marked
Site Improvements: Landscaping on South Cole Street.
Special: Full building fire sprinkler system; combination of dock-high loading and 10’x12’ drive-in doors.

July 8, 2009July 6, 2009 sundancecompany blackeagle center, Boise Commercial Real Estate, Boise Commercial Real Estate Development, Boise Office Space, The Sundance Company

Boise Commercial Real Estate – Red Hawk Court, Blackeagle Center

The Sundance Company is one of the few local commercial real estate companies in the Boise area that self-manages and maintains its own properties—enjoying higher occupancy levels and superior quality control for its projects.

Savvy tenants and buyers look to The Sundance Company for development; office, warehouse, and retail leasing; property management; build-to-suit/construction; and land and building sales. With more than 1.5 million square feet of prime office and industrial space in the greater Treasure Valley, The Sundance Company has the size and diversity to avoid the need for a “one-size-fits-all” approach—thereby assuring customized solutions that are genuinely tailored to each client’s needs.

Today’s featured property is Red Hawk Court , a single-story office building with large windows located in the high profile Blackeagle Center, a 45-acre business park developed by The Sundance Company in Boise, Idaho. The Blackeagle Center is home to coffee and sandwich shops, athletic centers, as well as various medical providers. There are two access points to I-84 and Flying Wye Connector which are less than 5 minutes from Blackeagle. Located in a one (1)-mile radius of Blackeagle employees can access Costco, Wal-Mart, Lowe’s, Albertsons, Fred Meyer, Walgreens, Starbucks, Boise Spectrum Theatre Complex, and the Boise Towne Square Mall. In addition to these, there are a large variety of banking, day care centers, restaurants, fitness centers, and library in the surrounding area.

Red Hawk Court
9292 W. Barnes Drive
Boise, ID 83709

Site Area: 1.22 acres
Zoning: L-OD
Year Built: 1999
Project Size: 14,004 sq. ft.
Number of Floors: One
Parking: 5.1/1,000 ratio
Construction: Class D, wood frame
Exterior: E.F.I.S. over plywood sheathing
Roof: Single ply EPDM roofing system over ½” roof board over ¾” tongue & groove plywood sheathing over Trus Joist frame
Floor Construction: 4” concrete slab
HVAC: 5-ton, gas-fired rooftop units; 100,000 BTU; 2,000 CFM
Ceiling: Lay-in acoustic ceiling panels in 2’x4’ T-bar ceiling grid with indirect and recessed lighting
Ceiling Height: 10’ finished height
Restrooms: Common area restrooms in central core
Life Safety: Wet pipe fire protection system with alarm valves with Fire Department Connection
Miscellaneous: Extensive perimeter and site landscaping; distinctive wildlife sculptures at property entrances; consistent architecture throughout park.

Convenient Central Bench location within walking distance of shopping, restaurants and the Post Office.

July 6, 2009July 6, 2009 sundancecompany Boise Commercial Real Estate, Boise Commercial Real Estate Development, Boise Office Space, Boise Retail Space, The Sundance Company

Boise Commercial Real Estate – Stonegate Office Complex

Today’s featured property is The Stonegate Office Complex. The complex is an attractive two-story building with an airy garden atrium filled with live plants. With its convenient central Bench location in Boise, Idaho, the Stonegate Office Complex is within walking distance of shopping, restaurants and the post office. The modified gross lease is full service less tenant janitorial.

Stonegate Office Complex
2995 North Cole Rd
Boise, ID 83704

Site Area: 1.35 acres; 158 feet fronting Cole Road; 374 feet deep
Zoning: R-1, the office building is allowed through a Conditional Use Permit
Year Built: 1983
Project Size: 23,838 square feet
Number of Floors: Two
Parking: 85 paved, marked spaces; one space per 308 square feet
Construction: Class D, wood frame
Exterior: 1X6 T & G cedar siding over ½” plywood
Roof: Built up roofing with aluminum cap sheathing
Floor Construction: Ground Floor: 4”concrete
2nd Floor: 1” gypcrete over ¾ plywood
HVAC: 5-ton roof mounted, package units
Ceiling: 2’x4’ T grid suspension ceiling with lay-in fluorescent lights
Ceiling Height: 8 feet in Tenant Area
Elevator: One elevator, handicap accessible
Restrooms: Ground floor in Tenant suites
Life Safety: Full fire sprinkler systems

Convenient Central Bench location within walking distance of shopping, restaurants and the Post Office.

July 1, 2009June 22, 2009 sundancecompany Commercial real estate news

And the most expensive office market in the world is …

If you guessed Tokyo, Japan then you should give yourself a pat on the back. Tokyo’s Inner Central District has supplanted London’s West End as the world’s most expensive office market, according to a recent survey.

London’s West End, is now the world’s second most expensive office market, followed by Moscow, Hong Kong’s Central Business District or CBD, and Tokyo’s Outer Central District in the report, which tracks office occupancy costs in more than 170 cities around the globe.

Financial centers have been most significantly affected by declining occupier demand and, as one would expect, registered the most material decreases in office rents. In many cases, major global office markets have seen occupancy costs fall by 20 percent or more over the last 12 months. Across the 170 cities as a whole, office occupancy costs fell 2.8 percent over the 12 month period ending March 31, 2009 (on an un-weighted average basis) compared with an increase of 8.0 percent in the 12 month period ending September 30, 2008 Singapore had the largest year over year decrease in occupancy costs with a drop of 34 percent.

Some markets did record increases in costs over the last 12 months but these markets—such as Charlotte (U.S.), Marseille (France) and Perth (Australia)—are very much the exception rather than the rule. Generally, these increases are either due to exceptional local market conditions, such as the completion of a top quality new building in a market where none was available previously, or simply that occupancy costs remain above the level of a year ago despite the fact that they are now falling. Such situations illustrate the uneven way in which the economic downturn is affecting different markets around the globe, according to the report.

Americas
The most expensive office location in the Americas is still New York’s Midtown with occupancy costs of $68 per sq. ft. However, that market’s occupancy costs declined 32 percent–the second steepest decline in the global survey. While occupancy costs in New York’s Midtown are high for North America, it ranked just 21st globally. Boston’s suburban market posted a decrease of nearly 30 percent, putting that market in fourth position in the top decreases chart in the report.

São Paulo (Brazil) posted the Latin American region’s highest occupancy costs at $57 per sq. ft. and is ranked 33rd globally. Latin America has held up better than the rest of the world with only three cities posting small negative growth rates, the worst being Mexico City with a 5.6 percent decrease. Nine markets in North America posted double digit declines.

Asia-Pacific
Tokyo (Inner Central) was the world’s most expensive market with an occupancy cost of $183 per sq. ft. Hong Kong (CBD) was the fourth most expensive global market with occupancy costs of $150 per sq. ft. Tokyo (Outer Central) and Mumbai were the other two Asia-Pacific markets in the top 10 most expensive cities roster.

Singapore, while experiencing the largest drop in occupancy costs, was not alone among Asia-Pacific financial centers in seeing a sharp decline. Hong Kong, Tokyo and Mumbai posted large drops in office occupancy costs. Conversely, Perth had the second fastest growing occupancy cost during the past 12 months with costs rising 22 percent, although it’s important to note that the increase took place in 2008.

Europe
London’s West End was the world’s second most expensive office market at $172 per sq. ft. and Moscow was a close third with occupancy costs at $170 per sq. ft. Dubai, Paris, the City of London and Dublin all were in the top ten most expensive markets.

Twelve cities in the region posted doubled digit declines in office cost. Moscow had the sharpest decline in the region followed closely by Oslo (Norway), while occupancy costs in London’s West End, previously the most expensive market in our report, fell 20 percent. In addition to Marseille, Durban (South Africa) was among the world’s top five markets with occupancy cost growing by 18 percent during the past 12 months.

June 29, 2009June 22, 2009 sundancecompany Economy news

Interesting article from Moody’s Economy.com

We discovered this article about the U.S. regional recession status and the greater Boise metropolitan area is in the same boat as most of the country – in recession.

Moody’s Economy.com classifies the current economic status of U.S. states and metro areas using four categories: “In Recession”, “At Risk”, “Recovery”, or “Expansion”. The evaluation of recession status is based on a six month test of either contraction or expansion. The six month test compares the six-month moving average in the current period to the six-month moving average in the period six months ago.

For a geography to be considered “In Recession”, the six month test must show it to be in contraction. Furthermore, the coincident indicator cannot have yet reached a trough. If a trough has been reached, the economy has shifted from “In Recession” to “Recovery”.

If the six month test shows the geography to be in expansion, then its status is either “Expansion” or “At Risk”. The economy is only in “Expansion” when the coincident indicator has yet to reach a peak. If it appears that a local peak may have been reached and the coincident indicator is increasing but at a decreasing rate, then the economy is placed “At Risk”.

Given the current slowing in growth driven by waning housing markets and weakness in manufacturing, it helps to have a gauge for where these fault lines are developing as there are varying levels of vulnerability across the country. This metric of recession status is just one of many ways of seeing where these problems lie.

State and Metro Recession Status
Apr 2009

Alaska   In Recession
Anchorage, AK Metropolitan Statistical Area   In Recession
Fairbanks, AK Metropolitan Statistical Area   In Recession

Alabama   In Recession
Anniston-Oxford, AL Metropolitan Statistical Area   In Recession
Auburn-Opelika, AL Metropolitan Statistical Area   In Recession
Birmingham-Hoover, AL Metropolitan Statistical Area   In Recession
Decatur, AL Metropolitan Statistical Area   In Recession
Dothan, AL Metropolitan Statistical Area   In Recession
Florence-Muscle Shoals, AL Metropolitan Statistical Area   In Recession
Gadsden, AL Metropolitan Statistical Area   In Recession
Huntsville, AL Metropolitan Statistical Area   In Recession
Mobile, AL Metropolitan Statistical Area   In Recession
Montgomery, AL Metropolitan Statistical Area   In Recession
Tuscaloosa, AL Metropolitan Statistical Area   In Recession

Arkansas   In Recession
Fayetteville-Springdale-Rogers, AR-MO Metropolitan Statistical Area   In Recession
Fort Smith, AR-OK Metropolitan Statistical Area   In Recession
Hot Springs, AR Metropolitan Statistical Area   In Recession
Jonesboro, AR Metropolitan Statistical Area   In Recession
Little Rock-North Little Rock-Conway, AR Metropolitan Statistical Area   In Recession
Pine Bluff, AR Metropolitan Statistical Area   In Recession

Arizona   In Recession
Flagstaff, AZ Metropolitan Statistical Area   In Recession
Lake Havasu City-Kingman, AZ Metropolitan Statistical Area   In Recession
Phoenix-Mesa-Scottsdale, AZ Metropolitan Statistical Area   In Recession
Prescott, AZ Metropolitan Statistical Area   In Recession
Tucson, AZ Metropolitan Statistical Area   In Recession
Yuma, AZ Metropolitan Statistical Area   In Recession

California   In Recession
Bakersfield, CA Metropolitan Statistical Area   In Recession
Chico, CA Metropolitan Statistical Area   In Recession
El Centro, CA Metropolitan Statistical Area   In Recession
Fresno, CA Metropolitan Statistical Area   In Recession
Hanford-Corcoran, CA Metropolitan Statistical Area   In Recession
Los Angeles-Long Beach-Glendale, CA Metropolitan Division   In Recession
Madera, CA Metropolitan Statistical Area   In Recession
Merced, CA Metropolitan Statistical Area   In Recession
Modesto, CA Metropolitan Statistical Area   In Recession
Napa, CA Metropolitan Statistical Area   In Recession
Oakland-Fremont-Hayward, CA Metropolitan Division   In Recession
Oxnard-Thousand Oaks-Ventura, CA Metropolitan Statistical Area   In Recession
Redding, CA Metropolitan Statistical Area   In Recession
Riverside-San Bernardino-Ontario, CA Metropolitan Statistical Area   In Recession
Sacramento–Arden-Arcade–Roseville, CA Metropolitan Statistical Area   In Recession
Salinas, CA Metropolitan Statistical Area   In Recession
San Diego-Carlsbad-San Marcos, CA Metropolitan Statistical Area   In Recession
San Francisco-San Mateo-Redwood City, CA Metropolitan Division   In Recession
San Jose-Sunnyvale-Santa Clara, CA Metropolitan Statistical Area   In Recession
San Luis Obispo-Paso Robles, CA Metropolitan Statistical Area   In Recession
Santa Ana-Anaheim-Irvine, CA Metropolitan Division   In Recession
Santa Barbara-Santa Maria-Goleta, CA Metropolitan Statistical Area   In Recession
Santa Cruz-Watsonville, CA Metropolitan Statistical Area   In Recession
Santa Rosa-Petaluma, CA Metropolitan Statistical Area   In Recession
Stockton, CA Metropolitan Statistical Area   In Recession
Vallejo-Fairfield, CA Metropolitan Statistical Area   In Recession
Visalia-Porterville, CA Metropolitan Statistical Area   In Recession
Yuba City, CA Metropolitan Statistical Area   In Recession

Colorado   In Recession
Boulder, CO Metropolitan Statistical Area   In Recession
Colorado Springs, CO Metropolitan Statistical Area   In Recession
Denver-Aurora, CO Metropolitan Statistical Area   In Recession
Fort Collins-Loveland, CO Metropolitan Statistical Area   In Recession
Grand Junction, CO Metropolitan Statistical Area   In Recession
Greeley, CO Metropolitan Statistical Area   In Recession
Pueblo, CO Metropolitan Statistical Area   In Recession

Connecticut   In Recession
Bridgeport-Stamford-Norwalk, CT Metropolitan Statistical Area   In Recession
Hartford-West Hartford-East Hartford, CT Metropolitan Statistical Area   In Recession
New Haven-Milford, CT Metropolitan Statistical Area   In Recession
Norwich-New London, CT Metropolitan Statistical Area   In Recession

District Of Columbia In Recession

Delaware   In Recession
Dover, DE Metropolitan Statistical Area   In Recession
Wilmington, DE-MD-NJ Metropolitan Division   In Recession

Florida   In Recession
Bradenton-Sarasota-Venice, FL Metropolitan Statistical Area   In Recession
Cape Coral-Fort Myers, FL Metropolitan Statistical Area   In Recession
Deltona-Daytona Beach-Ormond Beach, FL Metropolitan Statistical Area   In Recession
Fort Lauderdale-Pompano Beach-Deerfield Beach, FL Metropolitan Division   In Recession
Fort Walton Beach-Crestview-Destin, FL Metropolitan Statistical Area   In Recession
Gainesville, FL Metropolitan Statistical Area   In Recession
Jacksonville, FL Metropolitan Statistical Area   In Recession
Lakeland-Winter Haven, FL Metropolitan Statistical Area   In Recession
Miami-Miami Beach-Kendall, FL Metropolitan Division   In Recession
Naples-Marco Island, FL Metropolitan Statistical Area   In Recession
Ocala, FL Metropolitan Statistical Area   In Recession
Orlando-Kissimmee, FL Metropolitan Statistical Area   In Recession
Palm Bay-Melbourne-Titusville, FL Metropolitan Statistical Area   In Recession
Palm Coast, FL Metropolitan Statistical Area   In Recession
Panama City-Lynn Haven, FL Metropolitan Statistical Area   In Recession
Pensacola-Ferry Pass-Brent, FL Metropolitan Statistical Area   In Recession
Port St. Lucie, FL Metropolitan Statistical Area   In Recession
Punta Gorda, FL Metropolitan Statistical Area   In Recession
Sebastian-Vero Beach, FL Metropolitan Statistical Area   In Recession
Tallahassee, FL Metropolitan Statistical Area   In Recession
Tampa-St. Petersburg-Clearwater, FL Metropolitan Statistical Area   In Recession
West Palm Beach-Boca Raton-Boynton Beach, FL Metropolitan Division   In Recession

Georgia   In Recession
Albany, GA Metropolitan Statistical Area   In Recession
Athens-Clarke County, GA Metropolitan Statistical Area   In Recession
Atlanta-Sandy Springs-Marietta, GA Metropolitan Statistical Area   In Recession
Augusta-Richmond County, GA-SC Metropolitan Statistical Area   In Recession
Brunswick, GA Metropolitan Statistical Area   In Recession
Columbus, GA-AL Metropolitan Statistical Area   In Recession
Dalton, GA Metropolitan Statistical Area   In Recession
Gainesville, GA Metropolitan Statistical Area   In Recession
Hinesville-Fort Stewart, GA Metropolitan Statistical Area   In Recession
Macon, GA Metropolitan Statistical Area   In Recession
Rome, GA Metropolitan Statistical Area   In Recession
Savannah, GA Metropolitan Statistical Area   In Recession
Valdosta, GA Metropolitan Statistical Area   In Recession
Warner Robins, GA Metropolitan Statistical Area   In Recession

Hawaii In Recession
Honolulu, HI Metropolitan Statistical Area In Recession

Iowa   In Recession
Ames, IA Metropolitan Statistical Area   In Recession
Cedar Rapids, IA Metropolitan Statistical Area   In Recession
Des Moines-West Des Moines, IA Metropolitan Statistical Area   In Recession
Dubuque, IA Metropolitan Statistical Area   In Recession
Iowa City, IA Metropolitan Statistical Area   In Recession
Sioux City, IA-NE-SD Metropolitan Statistical Area   In Recession
Waterloo-Cedar Falls, IA Metropolitan Statistical Area   In Recession

Idaho   In Recession
Boise City-Nampa, ID Metropolitan Statistical Area   In Recession
Coeur d’Alene, ID Metropolitan Statistical Area   In Recession
Idaho Falls, ID Metropolitan Statistical Area   In Recession
Lewiston, ID-WA Metropolitan Statistical Area   In Recession
Pocatello, ID Metropolitan Statistical Area   In Recession

Illinois   In Recession
Bloomington-Normal, IL Metropolitan Statistical Area   In Recession
Champaign-Urbana, IL Metropolitan Statistical Area   In Recession
Chicago-Naperville-Joliet, IL Metropolitan Division   In Recession
Danville, IL Metropolitan Statistical Area   In Recession
Davenport-Moline-Rock Island, IA-IL Metropolitan Statistical Area   In Recession
Decatur, IL Metropolitan Statistical Area   In Recession
Kankakee-Bradley, IL Metropolitan Statistical Area   In Recession
Lake County-Kenosha County, IL-WI Metropolitan Division   In Recession
Peoria, IL Metropolitan Statistical Area   In Recession
Rockford, IL Metropolitan Statistical Area   In Recession
Springfield, IL Metropolitan Statistical Area   In Recession

Indiana   In Recession
Anderson, IN Metropolitan Statistical Area   In Recession
Bloomington, IN Metropolitan Statistical Area   In Recession
Columbus, IN Metropolitan Statistical Area   In Recession
Elkhart-Goshen, IN Metropolitan Statistical Area   In Recession
Evansville, IN-KY Metropolitan Statistical Area   In Recession
Fort Wayne, IN Metropolitan Statistical Area   In Recession
Gary, IN Metropolitan Division   In Recession
Indianapolis-Carmel, IN Metropolitan Statistical Area   In Recession
Kokomo, IN Metropolitan Statistical Area   In Recession
Lafayette, IN Metropolitan Statistical Area   In Recession
Michigan City-La Porte, IN Metropolitan Statistical Area   In Recession
Muncie, IN Metropolitan Statistical Area   In Recession
South Bend-Mishawaka, IN-MI Metropolitan Statistical Area   In Recession
Terre Haute, IN Metropolitan Statistical Area   In Recession

Kansas   In Recession
Lawrence, KS Metropolitan Statistical Area   In Recession
Topeka, KS Metropolitan Statistical Area   In Recession
Wichita, KS Metropolitan Statistical Area   In Recession

Kentucky   In Recession
Bowling Green, KY Metropolitan Statistical Area   In Recession
Elizabethtown, KY Metropolitan Statistical Area   In Recession
Lexington-Fayette, KY Metropolitan Statistical Area   In Recession
Louisville-Jefferson County, KY-IN Metropolitan Statistical Area   In Recession
Owensboro, KY Metropolitan Statistical Area   In Recession

Louisiana   In Recession
Alexandria, LA Metropolitan Statistical Area   In Recession
Baton Rouge, LA Metropolitan Statistical Area   In Recession
Houma-Bayou Cane-Thibodaux, LA Metropolitan Statistical Area   In Recession
Lafayette, LA Metropolitan Statistical Area   In Recession
Lake Charles, LA Metropolitan Statistical Area   In Recession
Monroe, LA Metropolitan Statistical Area   In Recession
New Orleans-Metairie-Kenner, LA Metropolitan Statistical Area   In Recession
Shreveport-Bossier City, LA Metropolitan Statistical Area   In Recession

Massachusetts   In Recession
Barnstable Town, MA Metropolitan Statistical Area   In Recession
Boston-Quincy, MA Metropolitan Division   In Recession
Cambridge-Newton-Framingham, MA Metropolitan Division   In Recession
Peabody, MA Metropolitan Division   In Recession
Pittsfield, MA Metropolitan Statistical Area   In Recession
Springfield, MA Metropolitan Statistical Area   In Recession
Worcester, MA Metropolitan Statistical Area   In Recession

Maryland   In Recession
Baltimore-Towson, MD Metropolitan Statistical Area   In Recession
Bethesda-Frederick-Gaithersburg, MD Metropolitan Division   In Recession
Cumberland, MD-WV Metropolitan Statistical Area   In Recession
Hagerstown-Martinsburg, MD-WV Metropolitan Statistical Area   In Recession
Salisbury, MD Metropolitan Statistical Area   In Recession

Maine   In Recession
Bangor, ME Metropolitan Statistical Area   In Recession
Lewiston-Auburn, ME Metropolitan Statistical Area   In Recession
Portland-South Portland-Biddeford, ME Metropolitan Statistical Area   In Recession

Michigan   In Recession
Ann Arbor, MI Metropolitan Statistical Area   In Recession
Battle Creek, MI Metropolitan Statistical Area   In Recession
Bay City, MI Metropolitan Statistical Area   In Recession
Detroit-Livonia-Dearborn, MI Metropolitan Division   In Recession
Flint, MI Metropolitan Statistical Area   In Recession
Grand Rapids-Wyoming, MI Metropolitan Statistical Area   In Recession
Holland-Grand Haven, MI Metropolitan Statistical Area   In Recession
Jackson, MI Metropolitan Statistical Area   In Recession
Kalamazoo-Portage, MI Metropolitan Statistical Area   In Recession
Lansing-East Lansing, MI Metropolitan Statistical Area   In Recession
Monroe, MI Metropolitan Statistical Area   In Recession
Muskegon-Norton Shores, MI Metropolitan Statistical Area   In Recession
Niles-Benton Harbor, MI Metropolitan Statistical Area   In Recession
Saginaw-Saginaw Township North, MI Metropolitan Statistical Area   In Recession
Warren-Troy-Farmington Hills, MI Metropolitan Division   In Recession

Minnesota   In Recession
Duluth, MN-WI Metropolitan Statistical Area   In Recession
Minneapolis-St. Paul-Bloomington, MN-WI Metropolitan Statistical Area   In Recession
Rochester, MN Metropolitan Statistical Area   In Recession
St. Cloud, MN Metropolitan Statistical Area   In Recession

Missouri   In Recession
Columbia, MO Metropolitan Statistical Area   In Recession
Jefferson City, MO Metropolitan Statistical Area   In Recession
Joplin, MO Metropolitan Statistical Area   In Recession
Kansas City, MO-KS Metropolitan Statistical Area   In Recession
Springfield, MO Metropolitan Statistical Area   In Recession
St. Joseph, MO-KS Metropolitan Statistical Area   In Recession
St. Louis, MO-IL Metropolitan Statistical Area   In Recession

Mississippi   In Recession
Gulfport-Biloxi, MS Metropolitan Statistical Area   In Recession
Hattiesburg, MS Metropolitan Statistical Area   In Recession
Jackson, MS Metropolitan Statistical Area   In Recession
Pascagoula, MS Metropolitan Statistical Area   In Recession

Montana   In Recession
Billings, MT Metropolitan Statistical Area   In Recession
Great Falls, MT Metropolitan Statistical Area   In Recession
Missoula, MT Metropolitan Statistical Area   In Recession

North Carolina   In Recession
Asheville, NC Metropolitan Statistical Area   In Recession
Burlington, NC Metropolitan Statistical Area   In Recession
Charlotte-Gastonia-Concord, NC-SC Metropolitan Statistical Area   In Recession
Durham, NC Metropolitan Statistical Area   In Recession
Fayetteville, NC Metropolitan Statistical Area   In Recession
Goldsboro, NC Metropolitan Statistical Area   In Recession
Greensboro-High Point, NC Metropolitan Statistical Area   In Recession
Greenville, NC Metropolitan Statistical Area   In Recession
Hickory-Lenoir-Morganton, NC Metropolitan Statistical Area   In Recession
Jacksonville, NC Metropolitan Statistical Area   In Recession
Raleigh-Cary, NC Metropolitan Statistical Area   In Recession
Rocky Mount, NC Metropolitan Statistical Area   In Recession
Wilmington, NC Metropolitan Statistical Area   In Recession
Winston-Salem, NC Metropolitan Statistical Area   In Recession

North Dakota   In Recession
Bismarck, ND Metropolitan Statistical Area   At Risk
Fargo, ND-MN Metropolitan Statistical Area   In Recession
Grand Forks, ND-MN Metropolitan Statistical Area   In Recession

Nebraska   In Recession
Lincoln, NE Metropolitan Statistical Area   In Recession
Omaha-Council Bluffs, NE-IA Metropolitan Statistical Area   In Recession

New Hampshire   In Recession
Manchester-Nashua, NH Metropolitan Statistical Area   In Recession
Rockingham County-Strafford County, NH Metropolitan Division   In Recession

New Jersey   In Recession
Atlantic City, NJ Metropolitan Statistical Area   In Recession
Camden, NJ Metropolitan Division   In Recession
Edison-New Brunswick, NJ Metropolitan Division   In Recession
Newark-Union, NJ-PA Metropolitan Division   In Recession
Ocean City, NJ Metropolitan Statistical Area   In Recession
Trenton-Ewing, NJ Metropolitan Statistical Area   In Recession
Vineland-Millville-Bridgeton, NJ Metropolitan Statistical Area   In Recession

New Mexico   In Recession
Albuquerque, NM Metropolitan Statistical Area   In Recession
Farmington, NM Metropolitan Statistical Area   In Recession
Las Cruces, NM Metropolitan Statistical Area   In Recession
Santa Fe, NM Metropolitan Statistical Area   In Recession

Nevada   In Recession
Carson City, NV Metropolitan Statistical Area   In Recession
Las Vegas-Paradise, NV Metropolitan Statistical Area   In Recession
Reno-Sparks, NV Metropolitan Statistical Area   In Recession

New York   In Recession
Albany-Schenectady-Troy, NY Metropolitan Statistical Area   In Recession
Binghamton, NY Metropolitan Statistical Area   In Recession
Buffalo-Niagara Falls, NY Metropolitan Statistical Area   In Recession
Elmira, NY Metropolitan Statistical Area   In Recession
Glens Falls, NY Metropolitan Statistical Area   In Recession
Ithaca, NY Metropolitan Statistical Area   In Recession
Kingston, NY Metropolitan Statistical Area   In Recession
Nassau-Suffolk, NY Metropolitan Division   In Recession
New York-White Plains-Wayne, NY-NJ Metropolitan Division   In Recession
Poughkeepsie-Newburgh-Middletown, NY Metropolitan Statistical Area   In Recession
Rochester, NY Metropolitan Statistical Area   In Recession
Syracuse, NY Metropolitan Statistical Area   In Recession
Utica-Rome, NY Metropolitan Statistical Area   In Recession

Ohio   In Recession
Akron, OH Metropolitan Statistical Area   In Recession
Canton-Massillon, OH Metropolitan Statistical Area   In Recession
Cincinnati-Middletown, OH-KY-IN Metropolitan Statistical Area   In Recession
Cleveland-Elyria-Mentor, OH Metropolitan Statistical Area   In Recession
Columbus, OH Metropolitan Statistical Area   In Recession
Dayton, OH Metropolitan Statistical Area   In Recession
Lima, OH Metropolitan Statistical Area   In Recession
Mansfield, OH Metropolitan Statistical Area   In Recession
Sandusky, OH Metropolitan Statistical Area   In Recession
Springfield, OH Metropolitan Statistical Area   In Recession
Toledo, OH Metropolitan Statistical Area   In Recession
Weirton-Steubenville, WV-OH Metropolitan Statistical Area   In Recession
Youngstown-Warren-Boardman, OH-PA Metropolitan Statistical Area   In Recession

Oklahoma   In Recession
Lawton, OK Metropolitan Statistical Area   In Recession
Oklahoma City, OK Metropolitan Statistical Area   In Recession
Tulsa, OK Metropolitan Statistical Area   In Recession

Oregon   In Recession
Bend, OR Metropolitan Statistical Area   In Recession
Corvallis, OR Metropolitan Statistical Area   In Recession
Eugene-Springfield, OR Metropolitan Statistical Area   In Recession
Medford, OR Metropolitan Statistical Area   In Recession
Portland-Vancouver-Beaverton, OR-WA Metropolitan Statistical Area   In Recession
Salem, OR Metropolitan Statistical Area   In Recession

Pennsylvania   In Recession
Allentown-Bethlehem-Easton, PA-NJ Metropolitan Statistical Area   In Recession
Altoona, PA Metropolitan Statistical Area   In Recession
Erie, PA Metropolitan Statistical Area   In Recession
Harrisburg-Carlisle, PA Metropolitan Statistical Area   In Recession
Johnstown, PA Metropolitan Statistical Area   In Recession
Lancaster, PA Metropolitan Statistical Area   In Recession
Lebanon, PA Metropolitan Statistical Area   In Recession
Philadelphia, PA Metropolitan Division   In Recession
Pittsburgh, PA Metropolitan Statistical Area   In Recession
Reading, PA Metropolitan Statistical Area   In Recession
Scranton–Wilkes-Barre, PA Metropolitan Statistical Area   In Recession
State College, PA Metropolitan Statistical Area   In Recession
Williamsport, PA Metropolitan Statistical Area   In Recession
York-Hanover, PA Metropolitan Statistical Area   In Recession

Rhode Island In Recession
Providence-New Bedford-Fall River, RI-MA Metropolitan Statistical Area In Recession

South Carolina   In Recession
Anderson, SC Metropolitan Statistical Area   In Recession
Charleston-North Charleston-Summerville, SC Metropolitan Statistical Area   In Recession
Columbia, SC Metropolitan Statistical Area   In Recession
Florence, SC Metropolitan Statistical Area   In Recession
Greenville-Mauldin-Easley, SC Metropolitan Statistical Area   In Recession
Myrtle Beach-North Myrtle Beach-Conway, SC Metropolitan Statistical Area   In Recession
Spartanburg, SC Metropolitan Statistical Area   In Recession
Sumter, SC Metropolitan Statistical Area   In Recession

South Dakota   In Recession
Rapid City, SD Metropolitan Statistical Area   In Recession
Sioux Falls, SD Metropolitan Statistical Area   In Recession

Tennessee   In Recession
Chattanooga, TN-GA Metropolitan Statistical Area   In Recession
Clarksville, TN-KY Metropolitan Statistical Area   In Recession
Cleveland, TN Metropolitan Statistical Area   In Recession
Jackson, TN Metropolitan Statistical Area   In Recession
Johnson City, TN Metropolitan Statistical Area   In Recession
Kingsport-Bristol-Bristol, TN-VA Metropolitan Statistical Area   In Recession
Knoxville, TN Metropolitan Statistical Area   In Recession
Memphis, TN-MS-AR Metropolitan Statistical Area   In Recession
Morristown, TN Metropolitan Statistical Area   In Recession
Nashville-Davidson–Murfreesboro–Franklin, TN Metropolitan Statistical Area   In Recession

Texas   In Recession
Abilene, TX Metropolitan Statistical Area   In Recession
Amarillo, TX Metropolitan Statistical Area   In Recession
Austin-Round Rock, TX Metropolitan Statistical Area   In Recession
Beaumont-Port Arthur, TX Metropolitan Statistical Area   In Recession
Brownsville-Harlingen, TX Metropolitan Statistical Area   In Recession
College Station-Bryan, TX Metropolitan Statistical Area   In Recession
Corpus Christi, TX Metropolitan Statistical Area   In Recession
Dallas-Plano-Irving, TX Metropolitan Division   In Recession
El Paso, TX Metropolitan Statistical Area   In Recession
Fort Worth-Arlington, TX Metropolitan Division   In Recession
Houston-Sugar Land-Baytown, TX Metropolitan Statistical Area   In Recession
Killeen-Temple-Fort Hood, TX Metropolitan Statistical Area   At Risk
Laredo, TX Metropolitan Statistical Area   At Risk
Longview, TX Metropolitan Statistical Area   In Recession
Lubbock, TX Metropolitan Statistical Area   In Recession
McAllen-Edinburg-Mission, TX Metropolitan Statistical Area   In Recession
Midland, TX Metropolitan Statistical Area   In Recession
Odessa, TX Metropolitan Statistical Area   In Recession
San Angelo, TX Metropolitan Statistical Area   In Recession
San Antonio, TX Metropolitan Statistical Area   In Recession
Sherman-Denison, TX Metropolitan Statistical Area   In Recession
Texarkana, TX-Texarkana, AR Metropolitan Statistical Area   At Risk
Tyler, TX Metropolitan Statistical Area   In Recession
Victoria, TX Metropolitan Statistical Area   In Recession
Waco, TX Metropolitan Statistical Area   In Recession
Wichita Falls, TX Metropolitan Statistical Area   In Recession

Utah   In Recession
Logan, UT-ID Metropolitan Statistical Area   In Recession
Ogden-Clearfield, UT Metropolitan Statistical Area   In Recession
Provo-Orem, UT Metropolitan Statistical Area   In Recession
Salt Lake City, UT Metropolitan Statistical Area   In Recession
St. George, UT Metropolitan Statistical Area   In Recession

Virginia   In Recession
Blacksburg-Christiansburg-Radford, VA Metropolitan Statistical Area   In Recession
Charlottesville, VA Metropolitan Statistical Area   In Recession
Danville, VA Metropolitan Statistical Area   In Recession
Harrisonburg, VA Metropolitan Statistical Area   In Recession
Lynchburg, VA Metropolitan Statistical Area   In Recession
Richmond, VA Metropolitan Statistical Area   In Recession
Roanoke, VA Metropolitan Statistical Area   In Recession
Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area   In Recession
Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Division   In Recession
Winchester, VA-WV Metropolitan Statistical Area   In Recession

Vermont In Recession
Burlington-South Burlington, VT Metropolitan Statistical Area In Recession

Washington   In Recession
Bellingham, WA Metropolitan Statistical Area   In Recession
Bremerton-Silverdale, WA Metropolitan Statistical Area   In Recession
Kennewick-Pasco-Richland, WA Metropolitan Statistical Area   In Recession
Longview, WA Metropolitan Statistical Area   In Recession
Mount Vernon-Anacortes, WA Metropolitan Statistical Area   In Recession
Olympia, WA Metropolitan Statistical Area   In Recession
Seattle-Bellevue-Everett, WA Metropolitan Division   In Recession
Spokane, WA Metropolitan Statistical Area   In Recession
Tacoma, WA Metropolitan Division   In Recession
Wenatchee, WA Metropolitan Statistical Area   In Recession
Yakima, WA Metropolitan Statistical Area   In Recession

Wisconsin   In Recession
Appleton, WI Metropolitan Statistical Area   In Recession
Eau Claire, WI Metropolitan Statistical Area   In Recession
Fond du Lac, WI Metropolitan Statistical Area   In Recession
Green Bay, WI Metropolitan Statistical Area   In Recession
Janesville, WI Metropolitan Statistical Area   In Recession
La Crosse, WI-MN Metropolitan Statistical Area   In Recession
Madison, WI Metropolitan Statistical Area   In Recession
Milwaukee-Waukesha-West Allis, WI Metropolitan Statistical Area   In Recession
Oshkosh-Neenah, WI Metropolitan Statistical Area   In Recession
Racine, WI Metropolitan Statistical Area   In Recession
Sheboygan, WI Metropolitan Statistical Area   In Recession
Wausau, WI Metropolitan Statistical Area   In Recession

West Virginia   In Recession
Charleston, WV Metropolitan Statistical Area   In Recession
Huntington-Ashland, WV-KY-OH Metropolitan Statistical Area   In Recession
Morgantown, WV Metropolitan Statistical Area   In Recession
Parkersburg-Marietta-Vienna, WV-OH Metropolitan Statistical Area   In Recession
Wheeling, WV-OH Metropolitan Statistical Area   In Recession

Wyoming   In Recession
Casper, WY Metropolitan Statistical Area   In Recession
Cheyenne, WY Metropolitan Statistical Area   In Recession