New York Avenue Corridor Strategy Adopted Report New York Avenue Corridor Strategy Adopted Report | Page 50

MARKET CONDITIONS Office Demand Estimated Growth Rate 2012-2022 Estimated 2022 Employees Estimated New Employees Natural Resources, Mining and Construction 9,969 1.5% 11,569 1,600 40% 640 200 128,028 5% 6,401 Manufacturing 15,450 1.5% 17,931 2,480 5% 124 200 24,804 5% 1,240 Trade, Transportation and Utilities 34,477 1.5% 40,012 5,535 10% 553 200 110,698 5% 5,535 Information 2,243 1.5% 2,603 360 80% 288 200 57,624 5% 2,881 Financial Activities 9,395 1.5% 10,903 1,508 90% 1,357 200 271,492 5% 13,575 Professional and Business Services 17,727 1.5% 20,573 2,846 80% 2,277 200 455,357 5% 22,768 Educational and Health Services 19,633 1.5% 22,785 3,152 20% 630 200 126,079 5% 6,304 Leisure and Hospitality 16,125 1.5% 18,714 2,589 10% 259 200 51,775 5% 2,589 Other Services 5,347 1.5% 6,205 858 30% 258 200 51,504 5% 2,575 Government 20,173 1.5% 23,412 3,239 30% 972 200 194,317 5% 9,716 Totals 150,540 1.5% 174,708 24,168 -- 7,358 200 1,471,678 5% 73,584 Industry Category Estimated Net Estimated % in New Office Office Space Employees Sq Ft per Office Employee Estimated Estimated New York New York Estimated 10- Avenue Avenue Office yr Office Demand Capture Rate Capture (s.f.) Estimated 2012 Employees Figure 3.19 Office Demand Source: NCTCOG; U.S. Census; and Ricker│Cunningham. Industrial Demand Estimated Growth Rate 2012-2022 Estimated 2022 Employees Estimated New Employees Natural Resources, Mining and Construction 9,969 1.5% 11,569 1,600 20% 320 400 128,028 5% 6,401 Manufacturing 15,450 1.5% 17,931 2,480 80% 1,984 400 793,733 5% 39,687 Trade, Transportation and Utilities 34,477 1.5% 40,012 5,535 90% 4,981 400 1,992,565 5% 99,628 Information 2,243 1.5% 2,603 360 20% 72 400 28,812 5% 1,441 Financial Activities 9,395 1.5% 10,903 1,508 5% 75 400 30,166 5% 1,508 Professional and Business Services 17,727 1.5% 20,573 2,846 10% 285 400 113,839 5% 5,692 Educational and Health Services 19,633 1.5% 22,785 3,152 10% 315 400 126,079 5% 6,304 Leisure and Hospitality 16,125 1.5% 18,714 2,589 5% 129 400 51,775 5% 2,589 Other Services 5,347 1.5% 6,205 858 10% 86 400 34,336 5% 1,717 Government 20,173 1.5% 23,412 3,239 20% 648 400 259,090 5% 12,954 Totals 150,540 1.5% 174,708 24,168 -- 8,896 400 3,558,423 5% 177,921 Figure 3.20 Industrial Demand Source: NCTCOG; U.S. Census; and Ricker│Cunningham. Demand Summary Land Use Type Residential (Units): Single Family Attached (Ownership) Multi-Family (Rental) Residential Total Non-Residential (SF): Retail Employment Non-Residential Total Source: Ricker│Cunningham. Sq Ft per Industrial Employee Estimated New York Avenue Industrial Capture (s.f.) Estimated 2012 Employees Industry Category Estimated % in Estimated Net Industrial New Industrial Employees Space Estimated New York Estimated 10- Avenue yr Industrial Demand Capture Rate Trade Area Demand (10 Year) Market Share Low New York Avenue Corridor 10-Year Absorption (Units/SF) High Low High 6,937 10,939 17,876 4% 4% 6% 6% 277 438 715 416 656 1,073 1,375,149 5,030,101 6,405,250 4% 4% 6% 6% 55,006 201,204 256,210 82,509 301,806 384,315 Figure 3.21 Demand Summary ARLINGTON, TEXAS 42