First quarter brings bump in transactions for Cushman & Wakefield | Thalhimer

Published April 29, 2014 by Paula C. Squires

Cushman & Wakefield | Thalhimer reports that the firm’s 10 Virginia, North Carolina and South Carolina offices saw a greater transactional volume in the first quarter compared to the same time last year.

The Richmond-based commercial real estate firm completed 419 lease transactions totaling more than 3.13 million square feet with a transactional value of more than $111.7 million during the first quarter.

That compares to 396 transactions of more than 2.67 million square feet and a transactional volume of about $99.8 million for the same time last year.

“This is an indication that investors and users are putting their money into real estate in a big way.  Income-producing assets and property portfolios are trading hands.  Institutional investors are very active.  It’s a great sign for our market,” President Lee Warfield said.

Industrial transactions of 1.98 million square feet accounted for the largest amount of space leased.

Office and retail leases amounted to 673,423 and 485,644 square, feet respectively.

In addition, Thalhimer reported 59 sale transactions totaling more than $294.9 million in sales volume and more than 4.3 million square feet. The sales included industrial, office and retail buildings and land transactions.

Overall, year-to-date volume exceeds $406.5 million. At the same time in 2013, year-to-date volume was $159.6 million.