Costar Sales Per Square Foot

That site sold in March 2018 for $44. Lululemon ranks No. • Engage JBG SMITH as its development partner, property manager and retail leasing agent. Nashville's housing market is one of the hottest in the country. 17' x 50') accessible by the Brooklyn Queens Expressway and 36th street train station via D, N & R lines. 7 billion in revenue. When you lease commercial space, you pay for more than just the actual square footage you will occupy. These required data include: 1. " Retail sector. California Psychcare, Inc. He then adjusted the expenses by removing management fees and reserves. In Times Square, the average price per square foot, $66, decreased slightly from July while the average price per square foot remained at $74 in Midtown. per acre (0. CoStar Group plans to acquire hotel data analytics company STR for $450 million in cash. The square feet per capita devoted to food by chain stores has soared 30-fold since 1950, according to the commercial real estate firm CoStar Group. ) Typical GLA Range (Sq. ©2018 CoStar Group, Inc. For example, the FAR of a 1,000-square-foot building with one story situated on a 4,000-square-foot lot would be 0. Having fewer stores is economically viable and therefore retailers are closing or seeking rent relief, CoStar Group said. 75; therefore, the average LEED impact on sales price per square foot is a positive 9. The average increased 14. Retailers go into 2017 with too many stores slumped from an industry average of $330 in sales per square foot from $350 per square foot a decade ago. This article has been updated. Magnin building sale. Most properties are rent per square foot. Exciting enhancements underway! We apologize, but LoopNet is currently unavailable while we launch some exciting upgrades. current lease listings for the surrounding area. 5 million or $180 PSF. The average for most retailers has been $325 in recent years. Hennepin County values the building at $277 million for tax purposes. While sales transactions in the second quarter posted at 3 million square feet in volume, down from 4. 77 per square foot per year at the end of the fourth quarter. has over six times more square feet of retail space per person than the UK Costar. The current annual asking rent of $7. This is calculated by taking the estimated rent price for a home and dividing it by the homes square footage. It is substantially lighter in weight than slate, concrete and metal roofing, and is produced using some of today's strongest, most flexible materials, including recycled rubber (EPDM) and plastic (TPO). Market your Commercial Listings. and Kairoi Residential bought the site to build a mixed-use. per acre (0. Type of Shopping Center Concept Center Count Aggregate GLA (Sq. For the purposes of budgeting early on in the process, you don't necessarily need to know the exact size of the office space you need. LEED certified facilities also opened up 25. The floor area ratio accounts for the entire floor area of a building, not simply the building's footprint. On the rental side, over 1,000 new units opened in Q2 at Atelier, WREN, and G12. Built in 1986, the three-story office property totals 12,481 square feet and sits on 0. Source: CoStar, Property Analytics. A good rule of thumb is to estimate around 150 to 200 square feet of space per employee. retail industry. The average Starbucks store size varies depending on urban versus suburban location, but the newer free-standing locations range from 1,500 - 2,000 square feet situated on 0. 00 per square foot of building area, including land. Tallying industrial building sales of 15,000 square feet. The purchase price was $253 million or about $181 per square foot, according to. Las Vegas. With CoStar's enhanced analytic capabilities, subscribers can use an extensive range of options, including building type, property class, geographic location and time frame, to select and analyze a specific set of properties or transactions from CoStar's database of more than one million sales comparables and more than 7. Perhaps surprisingly, the figure is below the historic annual average of 774,010 square feet. Hennepin County values the building at $277 million for tax purposes. Cheesegrater price expected to spur City of London property sales. Big Box Retail Properties: Pitfalls of Valuation -- Skolnik/Heiland 5 Generally, a sale-leaseback is structured around the construction costs of a property. It is substantially lighter in weight than slate, concrete and metal roofing, and is produced using some of today’s strongest, most flexible materials, including recycled rubber (EPDM) and plastic (TPO). 51 at the end of the second quarter 2017. In 2018, no office sales in Oakland exceeded $600 per square foot, according to data from MIX, CoStar and Real Capital Analytics. For broadcast application, use standard broadcast spreaders. 2 million for the building in. Developer Greenland USA, a subsidiary of the Shanghai-based property development firm Greenland Group, is reportedly asking $280 million for the 350-guestroom property for an average price of $800,000 per key. office space for $8. During the same period, office sales per square foot grew from an average of $120 a square foot to $500 a square foot. Sales volume is currently only one third of the previous record high in 2015 sitting at $250. 54 and Fayetteville Road. ©2018 CoStar Group, Inc. Search Office, Coworking, Retail & Warehouses for Lease. GSA leases space in diverse locations when leasing is the best solution for meeting federal space needs. Key administration-related deve. May 07, 2018 · The average US store brought in about $325 in sales per square foot in 2017, while the Apple store made $5,546, according to data from CoStar. 75; therefore, the average LEED impact on sales price per square foot is a positive 9. Available Space: The total amount of space that is currently. " Retail sector. The overall asking lease rate for manufacturing-and-warehouse space decreased 1 cent to 56 cents per square foot, up 2 cents from a year ago. (NASDAQ: CSGP) and is part of the CoStar product suite. retail, office, warehouse, etc) commercial leases use various price per square foot pricing methods. Europe Retail Market Overview shopping options The U. TODAY'S CHARTS: 3 retailers defying the 'Amazon effect' according to CoStar: with sales of $2,951 per square foot. 59 per square foot. Great development opportunity! 36,061. Lincoln Property Co. 75% increase over the last four. Square Feet YTD total office lease activity. Data is provided by LonRes, a leading provider of real time information to London’s top residential professionals. Quick sale value represents a ~15% reduction from the final estimated value, as vacancy levels for this product type are stable in this. When net absorption of space declined in 2016 from the peak a year earlier, developers sharply cut back on new starts in 2017 by 30% according to the real estate investment management firm, JLL. 24 per square foot during the third quarter of 2019. 69 per square foot. 85 per square foot. This is slightly higher than Midtown's rate of 91%. That's about 50 percent less space than the industry added in the five years beginning in 2000, though it comes as e-commerce continues to grow. The purchase price was $253 million or about $181 per square foot, according to. retail? There's too much of it- by Dan RafterThe number of store closings and retail bankruptcy filings have to slow in the coming years, right? There have been so many of. • After the addition of 980,000 square feet of space over the past 12 months in Far North Dallas, another 720,000 square feet is underway and slated for delivery in 2018. cap rate of 6. townhouse located at 184 S Fitzhugh St, Rochester, NY 14608. This level represents a 14% increase in the number of buildings and a 21% increase in floorspace since 2003, the last year for which CBECS results are available. Authentic slate-looking recycled rubber tiles. Most properties are rent per square foot. TODAY'S CHARTS: 3 retailers defying the 'Amazon effect' according to CoStar: with sales of $2,951 per square foot. Then, sum up the total rents and total square feet columns. A joint venture between McShane Development and Globe. Despite Record Occupancy, Areas of Uncertainty Remain for Healthcare. or $247 per square foot, according to CoStar. 4 percent over the last year to $12. 60 Breaking News Edmonton, Alberta — (February 8, 2018) https://costarsoftware. This Steep Price Drop Is Just One Of Many. Lululemon ranks No. This represents a 3. WeWork—currently 7th on the Unicorn List, with a valuation of $16 billion (technically a decacorn, and one of only 14 with the $10 billion-plus designation)—actually outranks Google (Alphabet) as the company with the most new leasing activity since the beginning of 2014 per CoStar, racking up 3. Real Estate research firm CoStar projected that retailers will have to close about 1 billion square feet of retail space, or about 10 percent of the existing space, in the U. 15 square feet of retail food space per person, which is nearly 30 times higher than in 1950, according to CoStar Group data cited by the Wall Street Journal. Shopping-center sales tax revenue (bil. We're a member of CoStar Group, the leading information provider serving the multi-family industry. Home Depot Or Lowe's — Who Is Operating More Efficiently? whose total costs comprising SG&A costs and lease payments per square foot have remained relatively flat in the last three years. In the first nine months of 2018, the market saw 74 retail sales transactions with a total volume of $508,381,499. pad, commercial, real. Your first step is to complete the Datappraise Web fields. 7 percent, and a 374,950 square feet under construction. from the data set include the sales price and size of the prop-erty, the transaction date, and the exact location (latitude and longitude as well as political jurisdiction) of the property. 6 percent to nearly $214 per square foot. chainstoreage. Sales per square foot are declining across the board. 8% Cap Rate. • The market share of retrofit projects that are green is expected to rise to 20-30% in 201422. View more property details, sales history and Zestimate data on Zillow. while the seller is Sherman Oaks firm United Overseas Investment Inc. According to the report, "The extremely tight market has caused net average asking rents to increase by 12. Existing rents average $58 per square foot annually. That site sold in March 2018 for $44. Vacancy remains steady at 4. Two percent of all stores across the nation were remodeled last year with an average cost per remodel of $200,000. Property Advertising. That's about 50 percent less space than the industry added in the five years beginning in 2000, though it comes as e-commerce continues to grow. • Square footage of LEED-certified existing buildings surpassed LEED-certified new construction by 15 million square feet on a cumulative basis. This of course, depends upon the type and style of the business and the workspace layout. 5% decline from 2018. The overall asking lease rate for manufacturing-and-warehouse space decreased 1 cent to 56 cents per square foot, up 2 cents from a year ago. retail industry. ©2016 CoStar Group, Inc. Source: CoStar. Sources for rent on other properties are CoStar, Loopnet, local papers, CityFeet, Showcase, and realtor websites. single-family home is a 5 bed, 2. also setting City records with its price per square foot — £1,885, according to Morgan Stanley — and its yield, a slim 3. Retailers go into 2017 with too many stores slumped from an industry average of $330 in sales per square foot from $350 per square foot a decade ago. 1% over the period, reaching $38. Then, we multiply the per square foot value by the number of square feet of land in each SD. Drybar has leased 2,200 square feet, spanning an entire retail condominium unit on the ground floor and lower level of the building, at the corner of Broome Street. One of the easiest and best ways to make an apartment, dorm room or house feel like your home is to hang things up on the wall!. At more than $450 per square foot, the sale price beat the previous record by over $20. At the end of the third quarter, the average rental rate was $16. Our office space calculator makes it easy to determine how much space you need. Built in 1986, the three-story office property totals 12,481 square feet and sits on 0. Retailers are generating lower sales per square foot than they did in the decade leading up to the 2008 recession. Choice now occupies about 88,000 square feet under a 10-year lease at the North Scottsdale Corporate Center at 6811 E Mayo Blvd. Rent Per Square Foot. The combined estimated property value for the parcels included in the sale is nearly $17. San Fran = 121. The United States has 4. The End of the West End As You’ve Known It. Search commercial real estate for rent and for sale. EcoStar products are made with recycled rubber and plastics, making them highly flexible and eco-friendly. Then, we multiply the per square foot value by the number of square feet of land in each SD. is leading the pack when it comes to brick-and-mortar jewelry sales, according to a new report by CoStar. 1% over the period, reaching $38. Comparables 1 and 2 with the $109 per square foot results from CTMI's income approach. and Kairoi Residential bought the site to build a mixed-use. 75 per square foot during 2012, but is still below the peak set during the last cycle of $18. Chamblee Retail Center Sells For Near-Record Price As Investor Demand Strengthens. Real Estate research firm CoStar projected that retailers will have to close about 1 billion square feet of retail space, or about 10 percent of the existing space, in the U. If you want to be the best, you have to learn from the best. Loudoun County, the western-most county in the market, has 16 million square feet of office space, while Prince William County is comprised of only 5. also setting City records with its price per square foot — £1,885, according to Morgan Stanley — and its yield, a slim 3. 20 per square foot of space. Many GSA leases are for 10,000 square feet or less, so owners do not have to be corporate giants to compete for lease contracts. 2% over last quarter to end at $5. Shopping-Malls->-Price-per-square-feet includes definition, source, graph and map Source: National Research Bureau, 2005. † Multi-Tenant: Sales activity is increasing as confidence in Houston returns, and the average price grew 3. Commercial Appraisal TEMPLATE INSTRUCTIONS AND PROCEDURES Please review the following information prior to working in this template. In april 2011 costar estimated over 17 billion square feet of retail real estate and 84 billion square feet of total commercial real estate in the US. 2) with higher incomes who choose to live Downtown so they can walk to dinner, shops and attractions. That's about 50 percent less space than the industry added in the five years beginning in 2000, though it comes as e-commerce continues to grow. In March the CoStar Group, which specializes in commercial real estate research and information services, said its research showed that Energy Star and LEED-certified buildings command higher sales prices and rent. COSTAR Version 4. It encompasses 60 postcodes grouped in 15 separate distinct areas. The problem with U. Genuine Parts did not offer any evidence indicating the sales comparison. Newmark Grubb Zimmer Brokers Sale of 517,391 Square Foot Industrial Building in Kansas City. So are many others at the bottom of my chart. 61 Class B Only 68,954,513 1,388,984 2. • Square footage of LEED-certified existing buildings surpassed LEED-certified new construction by 15 million square feet on a cumulative basis. While this is about 35 percent higher than the estimated $40,000 per site recorded as of fourth quarter 2007, it remains far below the $154,000 average sales price per unit recorded for apartments. At CoStar, we’re in the business of equipping our clients with what they need to succeed. After adjustments, more weight was placed on Comparable 3 as it is most similar to the subject in condition and lot size. 42 per SF Value of Land as Equity $ 980,000 466,666. A good rule of thumb is to estimate around 150 to 200 square feet of space per employee. TODAY'S CHARTS: 3 retailers defying the 'Amazon effect' according to CoStar: with sales of $2,951 per square foot. These data allow us to calculate a price per square foot of land at a particular location at a particular date. Take a retail plaza with 300 parking spots and 60,000 square feet of shopping space. September 28, 2014 Westcore Properties of San Diego has purchased a vacant 104,180-square-foot industrial building in Otay Mesa for $6. Westcore officials said the seller of 8917 Kerns St. In the first nine months of 2018, the market saw 74 retail sales transactions with a total volume of $508,381,499. According to CoStar’s summary of their often-cited 2008 study “Commercial Real Estate and the Environment,” LEED buildings showed rent premiums of $11. 54 per square foot; and compares to $1. The transaction, which closed on April 1, works out to $262. Sales volume is currently only one third of the previous record high in 2015 sitting at $250. This statistic shows the sales value per square foot of selected specialty retail stores in the United States in 2006 and 2016. In response to these strong consumer preference shifts, many large, medium, and small retail chains will be closing physical retail store locations in 2014 because they can't justify the dwindling sales per square footage results they produce. 4% in the past year. beginning of 2014, accounting for over $3. CoStar Office Statistics C Year-End 2016 - Denver Terms & Definitions Availability Rate: The ratio of available space to total rentable space, calculated by dividing the total available square feet by the total rentable square feet. Based on these market rents, Kling estimated a market rent for the subject of $3. Sales per square foot is simply the average revenue a retail business creates for every square foot of sales space. Hines and Oaktree Capital Management LP have completed one of the largest East Bay office sales of the year. CoStar estimates that about 10% of retail square footage in the US is "obsolete. The suburban market average weighted rental rate increased from $15. Spacious 10,000 square feet elevator building with a lot size of 100. Ghermezian told The Associated Press that he expects American Dream to surpass sales at both West Edmonton Mall and Mall of America, generating more than $2 billion in sales per year. US$) Shopping-center sales per capita (US$) Shopping-center share of total retail GLA (%) 7,675 136. Shopping Malls price per square feet statistics - states compared - Statemaster. According to CoStar’s summary of their often-cited 2008 study “Commercial Real Estate and the Environment,” LEED buildings showed rent premiums of $11. 5 billion in sales. Beginning in Dec. He then adjusted the expenses by removing management fees and reserves. 75; therefore, the average LEED impact on sales price per square foot is a positive 9. The new shop is slated to open around October. The average sales price for office space in downtown and Midtown in the past year was $127 per square foot, according to CoStar. Bates has worked in the real estate industry for over twelve years and her most recent experience prior to joining Newmark Knight Frank was her role as a sales executive for The CoStar Group / Apartments. SQUARE FOOTAGE PER EMPLOYEE (the usage factor) is clearly in long-term decline, as firms maximize the efficiency of their office space. Available Space: The total amount of space that is currently. Developer Greenland USA, a subsidiary of the Shanghai-based property development firm Greenland Group, is reportedly asking $280 million for the 350-guestroom property for an average price of $800,000 per key. 0 percent of responses. Among Retailers Who Rake in the Most Money per Square Foot August 2, 2017 by Emili Vesilind Tiffany & Co. 5 million square feet of retail space in 24. Find Commercial Real Estate Investment Properties & Land for Sale. 5% from the fourth quarter of 2015. beginning of 2014, accounting for over $3. 3,000 2,500 2,000 1,500. But some retailers continue to pull in hefty revenue. 5 percent to average $419 per square foot in the first quarter. uk enables retailers to find the ideal shop to let or for sale. PRICE PER SQUARE FOOT TIMES SQUARE MIDTOWN PRICE PER SF $69 $69 $65 $67 $72 $72 $74 Source: CoStar, CompStak. 8 Shopping-center property tax revenue (bil. The average price per square foot has trended up by 21%, from $359 per square foot in 2013, to $435 per square foot for office trades year to date. 7 per cent year-over-year to $12. The total square footage in the third quarter was 1,021,572 square feet for an average price per square foot of $145. This represented a 9. http://newseastwest. Times Square gures include properties within the BID boundaries. 51 per square foot and the first quarter ended with $16. Upon cross-examination, Kernen testified that he used sales from other counties because he had to broaden the market area due to lack of sales. 4 percent over the last year to $12. 95 Per Square Foot $61,751,227 $6,585,550 $24,800,000 $30,365,677 Transfer Amount Total Industrial Retail Office Lender-Related Transfers 19 12 3 4 Number of Transactions $58. D CoStar Retail Statistics ©2017 CoStar Group, Inc. 8 million, however, sales price per square foot is at a record high in Miami-Dade at $355 largely due to sales in the highly desirable Lincoln Road and Miami Design District areas. This simple, comprehensive, web based apartment marketing program generates rent per square foot rates, net effective rent calculations, apartment market rent comparisons and floor plan pricing comparisons. This home was built in 1961 and last sold on 12/20/2018 for $400,000. Despite Record Occupancy, Areas of Uncertainty Remain for Healthcare. Shopping-Malls->-Price-per-square-feet includes definition, source, graph and map Source: National Research Bureau, 2005. SOFT COSTS $ 862,537 24. The proposed $3 million incentive is a performance-based sales tax reimbursement. EcoStar products are made with recycled rubber and plastics, making them highly flexible and eco-friendly. Less than a year after opening in Los Angeles' downtown neighborhood—and signaling a shift for the area—the Hotel Indigo is on the market. According to CoStar, Google's Birmingham space rents for $36 per square foot per year, which amounts to $48,618 per month. Sources for rent on other properties are CoStar, Loopnet, local papers, CityFeet, Showcase, and realtor websites. Nov 14, 2014 · Leasing activity has been slow with some buildings' rental rates dropping as much as 50 cents per square foot amid flat or slightly decreasing vacancy rates. That same metric grew by only 51% for sales metro-wide. CompStak gathers and quality checks lease and sales comps from the professionals making deals so you can focus on meaningful networking, accurate analyses, and closing business. Sales per square foot is deemed an important metric for determining retail success. Seattle concluded the fourth quarter with an overall average rate of $17. They didn’t release any numbers and Tesla hasn’t been added to retail industry rankings yet, but a recent ranking from CoStar placed Apple Stores at the top with $5,546 in sales per square foot. Tempe, Arizona commercial real estate for sale and lease on LoopNet. Shopping-center sales tax revenue (bil. A San Francisco office building — the longtime home of Charles Schwab and now a potential expansion target for Google — has sold for $335. Available Space: The total amount of space that is currently. This area usually has 711 homes for sale. In 2012, the average sales price was around $250/ sq ft. The report noted that out-of-state investors, especially those from California and New York, were especially active in places like Gwinnett and North Cobb counties and South Atlanta. Available Industrial Space by Size Size (square feet) # of Locations Total Available Space (square feet) Avg Net Rent per square feet. 95 Per Square Foot $61,751,227 $6,585,550 $24,800,000 $30,365,677 Transfer Amount Total Industrial Retail Office Lender-Related Transfers 19 12 3 4 Number of Transactions $58. Buildings with varying numbers of stories may have the same FAR value. The largest tenant in the building is insurance company Aon Corp. The retail submarket had an overall vacancy of 6. Overall, the retail market remained tight in the quarter, with about 231,100 square feet. or $247 per square foot, according to CoStar. 55 million, or about $95,000 per unit. The median sales price is $185,000. The Rofo Pro plan costs $59 per year for a single property listing in one county and you can accept up to four leads. Arthrex's expansion — noted above — accounts for more than 98% of the total. 69 acres in the Riverside submarket. Metal Van Ness Brochure 2642-2680 E Church Ave Warehouse Fresno 22,500 SF on 1. “Industrial property could go from $12 to $15 per square foot as rental and $125 to $175 per square foot for sale. Significant Transactions This quarter there were 30 sale transactions, according to CoStar. There was also a slight discrepancy in the. per acre (0. A San Francisco office building — the longtime home of Charles Schwab and now a potential expansion target for Google — has sold for $335. • After the addition of 980,000 square feet of space over the past 12 months in Far North Dallas, another 720,000 square feet is underway and slated for delivery in 2018. Europe Retail Market Overview shopping options The U. in Largo, FL from Bayside Ventures II LLC for $10. In the twelve months of 2017, the market saw 107 retail sales transactions with a total volume of $848,336,194. Home Depot Or Lowe's — Who Is Operating More Efficiently? whose total costs comprising SG&A costs and lease payments per square foot have remained relatively flat in the last three years. 5M from 597. This area usually has 711 homes for sale. I need a table that will map each US zip code to the average price of commercial real estate (office space) in that zip code. Shopping-Malls->-Price-per-square-feet includes definition, source, graph and map Source: National Research Bureau, 2005. For the purposes of budgeting early on in the process, you don't necessarily need to know the exact size of the office space you need. Mark of a Market. A few years ago, I found that in LA ---- the answer is "no". Buyers are willing to pay a premium for assets in Chandler N/Gilbert. It doesn't matter to me if the prices are to rent or to buy. In the third quarter of 2017, a total of 93,079 square feet of office space was made available for lease in the Downtown. • Approximately 61% of all construction projects are retrofit projects21. But the gargantuan size of the parcel makes. Westcore officials said the seller of 8917 Kerns St. There are more than 23 million square feet of industrial space in the City resulting in a high number of jobs in these industries. chainstoreage. 51 at the end of the second quarter 2017. Most properties are rent per square foot. In the retail business, there's no one better than Apple. Data from research firm CoStar indicates that rental rates in urban markets before and during the recession lagged the national average. This adjusted sales price is the sales price of comparable #1 under the assumption that it is as similar as possible to the subject property. CoStar Real Estate Manager is wholly owned by CoStar Group, Inc. Median Rent List Price ($): Median of the price of homes listed for rent on Zillow in a given region. , a Washington, D. Retailers are generating lower sales per square foot than they did in the decade leading up to the 2008 recession. end of the third quarter 2012, when rents were reported at $11. The price per square foot is nearly 25 percent read more. 51 per square foot and the first quarter ended with $16. 2% from a year ago. This is the third time in five years new ownership has taken over. Sources for rent on other properties are CoStar, Loopnet, local papers, CityFeet, Showcase, and realtor websites. According to the report, "The extremely tight market has caused net average asking rents to increase by 12. Then, sum up the total rents and total square feet columns. market increased in the first quarter 2018, ending the quarter at $1. Quick sale value represents a ~15% reduction from the final estimated value, as vacancy levels for this product type are stable in this. CoStar Retail Statistics 1 of occupancy date. retail? There's too much of it- by Dan RafterThe number of store closings and retail bankruptcy filings have to slow in the coming years, right? There have been so many of. The CoStar indices are constructed using a repeat sales methodology, widely considered the most accurate measure of price changes for real estate. Thousands of properties are added every month, including serviced offices, industrial, retail and leisure units, auction listings and sites with great development potential. Expense recovery charges for real estate taxes and insurance in. Cherry Creek North recorded a fourth quarter retail vacancy rate of 5. Get Tempe recent sales comparables, Tempe commercial real estate news, commercial real estate loans and more at LoopNet. The Raleigh-Durham office calculates statistics using CoStar Group and Coliers International Raleigh-Durham database of existing and under construction properties. Sources: CoStar and Real Capital. Commerce Casa Grande Arizona A lease renewal for 1,200 square feet in GC Plaza to Music Store/Discoteca was recently consummated. discount rates or expected Internal Rates of Return derived from sales and from published survey. October 2019 Q3 report. The CoStar Office Report C First Quarter 2016 – Phoenix Terms & Definitions Availability Rate: The ratio of available space to total rentable space, calculated by dividing the total available square feet by the total rentable square feet. Pollack Shores currently is developing The Bishop, a luxury apartment community at the office park. In March the CoStar Group, which specializes in commercial real estate research and information services, said its research showed that Energy Star and LEED-certified buildings command higher sales prices and rent. 7 million square feet for the past two years. * Significant at the 85% level *** Significant at the 95% level or above The mean price per square foot is $242. 6 million monthly visitors, your property will get unrivaled exposure to the tenant and investor audience searching for commercial real estate with featured placements on the industry’s top 3 commercial real estate websites: LoopNet, Cityfeet & Showcase. In april 2011 costar estimated over 17 billion square feet of retail real estate and 84 billion square feet of total commercial real estate in the US. Ghermezian told The Associated Press that he expects American Dream to surpass sales at both West Edmonton Mall and Mall of America, generating more than $2 billion in sales per year.