Market Reports

RETAIL MARKET REPORTS

The CoStar Retail Report calculates Retail statistics using CoStar Group’s base of existing, under construction and under renovation Retail buildings in each given metropolitan area. All Retail building types are included, including Community Center, Freestanding Retail, Neighborhood Center, Power Center, Regional Mall, Specialty Center and Unanchored Strip Center, in both single-tenant and multi-tenant buildings, including owner-occupied buildings. CoStar Group’s national database includes approximately 80.7 billion square feet of coverage in 3.5 million properties. All rental rates reported in the CoStar Retail Report are calculated using Triple Net (NNN) rental rates.

2020 Syracuse Retail Market Report


INDUSTRIAL MARKET REPORTS

The CoStar Industrial Report calculates Industrial statistics using CoStar Group’s base of existing, under construction and under renovation Industrial buildings in each given metropolitan area. All Industrial building types are included, including warehouse, flex/research & development, distribution, manufacturing, industrial showroom, and service buildings, in both single-tenant and multi- tenant buildings, including owner-occupied buildings. CoStar Group’s national database includes approximately 80.7 billion square feet of coverage in 3.5 million properties. All rental rates reported in the CoStar Industrial Report are calculated using the quoted rental rate for each property. The quoted rental rate is exclusive of the expense pass through associated with the rent.

2020 Syracuse Industrial Market Report

OFFICE MARKET REPORTS

The CoStar Office Report, unless specifically stated otherwise, calculates office statistics using CoStar Group’s entire database of existing and under construction office buildings in each metropolitan area. Included are office, office condominium, office loft, office medical, all classes and all sizes, and both multi-tenant and single-tenant buildings, including owner-occupied buildings. CoStar Group’s national database includes approximately 80.7 billion square feet of coverage in 3.5 million properties. All rental rates reported in the CoStar Office Report have been converted to a Full Service equivalent rental rate.

2020 Syracuse Office Market Report


MULTI-FAMILY MARKET REPORTS

Apartment rents in the Syracuse Market were rising at a 2.0% annual rate during the third quarter of 2020, and have posted an average annual gain of 1.9% over the past three years. In addition to 860 units that have delivered over the past three years (a cumulative inventory expansion of 2.8%), there are 1,200 units currently underway. Vacancies were essentially in line with the ten year average as of 2020Q3, and were little changed over the past four quarters.

2020 Syracuse Multifamily Market Report