Commercial Investment Real Estate November/December 2018 | Page 8

MARKET
TRENDS
19 Cities Commit to Net-Zero Carbon Buildings
A worldwide coalition of 19 mayors recently signed the Net Zero Carbon Buildings Declaration, pledging to
make all new buildings in their cities net-zero carbon by 2030 and all buildings — old and new — net-zero
by 2050. Seven U.S. cities are in the coalition, which represents 130 million urban residents worldwide.
U.S. members include Los Angeles; New York City; Portland, Ore.; San Francisco; San Jose, Calif.;
Santa Monica, Calif.; and Washington, D.C.
Source: The C40 Cities Climate Leadership Group
Medical Office Sales
Market Leaders
New York, Chicago, Houston, Atlanta, and Milwaukee led
the U.S. markets in medical office sales in the first half of
2018. Combined total sales for the five cities was $1.5
billion; sales across the country totaled $1.87 billion.
2018 Sales as of 6/30
($ in millions)
The occupancy rate for seniors housing in the U.S. in 2Q2018 was at its
lowest level since 1Q2010, when it was 86.9 percent, 2.3 percentage points
below its most recent high of 90.2 percent in 4Q2014. Chicago
Occupancy Rate in U.S. Seniors Housing Properties
Annual Absorption Rate for Seniors Housing
Source: National Investment Center for Seniors Housing & Care
6
November | December 2018
2Q2018 2Q2017
87.9% 88.7%
2.4% 2.5%
$549
$337
$276
Houston
Atlanta
Milwaukee
$177
$156
Source: Avison Young Mid-Year Medical Office Update
COMMERCIAL INVESTMENT REAL ESTATE
New York
Seniors Housing Occupancy Dips