Preliminary results for Year-end 2003

United Properties has released preliminary findings from its year-end 2003 Twin Cities’ commercial real estate market research. Those findings are documented in a news release issued Thursday, Dec. 18, 2003.

Twin Cities Industrial Real Estate Market Begins to Rebound During Second Half of 2003

United Properties Year-End ‘Outlook’ Market Study Reports Solid Industrial Absorption, Stabilizing Office Market Conditions, Continued Strong Retail Market

MINNEAPOLIS (December 18, 2003) — After a three-year slide, the Twin Cities industrial and office real estate markets are showing the first signs of rebounding, according to United Properties’ year-end 2003 Outlook market study. The Twin Cities-based commercial real estate company released its year-end 2003 office, industrial and retail market study today and will release its final marketwide report, including the industrial, retail, medical office, multi-family and investment markets, in January. The full story.

Check back in early 2004 for the complete research report.

Our research from July 03

• The first half of 2003 showed a booming retail real estate market, with vacancy for all retail property types topping out at 5.3%.

• For other sectors, office and industrial properties continued to be challenged, as vacancy increased again.

• Optimism crept back into real estate with less sublease space coming back to the market during this half.

•  Finally, interest rates fueled business owners' interest in purchasing properties for the business operations rather than leasing.