1. New Haven County Overview
by Richard Michaud, MAI
Michaud Company, Inc.
431 Orange Street, New Haven

2. Population Centers New Haven County

3. Overall Direction of Markets New Haven County
Industrial
Office
Apartment
Retail
Single Family
Down 10% is the new flat

4. Market Activities New Haven County
Leasing
Sales
Financing
Development

5. Office Market New Haven County
2008 vacancy rate 15%
2007 vacancy rate 17%
Downtown New Haven vacancy rate 10%
Suburbs vacancy rate 18%
50% of County inventory in New Haven
Threats to employment and vacancy rates
New construction: medical and university only
Rents stable, but pressured: A $24, B $18, C $16

6. Industrial Market New Haven County
2008 vacancy rate 13%
2007 vacancy rate 15%
Whse & flex 10%, mfg vacancy rate 20%
Meriden/Wallingford/North Haven has 55% of inventory and 12% vacancy rate
Waterbury area has 11% of inventory and 30% vacancy rate
Rents stable: flex $6.75, whse $5.25, mfg $4.50

7. Apartment Market New Haven County
Occupancies & rents steady
Real estate taxes rising (Waterbury)
Older properties & high fuel costs
Out of state buyers, high prices, easy credit
68% of total inventory in 4 towns
New Haven 22%
Waterbury 21%
West Haven 13%
Hamden 12%

8. Retail Market New Haven County
2008 vacancy up from 2007
Retail sales down – housing market related
Vacancies expected after holiday season
Major retail markets
Orange/Milford: Route 1 & CT Post Mall
North Haven/Wallingford/Meriden: Route 5 & Meriden Mall
Waterbury: Lakewood Road & Brass Mill Commons
Hamden: Route 10
Clinton Crossing & Westbrook Outlets

9. City Of New Haven 500,000sf Cancer Center under construction
55 Park Street under construction (cancer center)
Howe Street Lot E (cancer center parking + mixed use)
25 Science Park leased by Yale & more plans
Several proposed developments, most still planning
360 State Street-Shartenberg Lot
196 College Street
Long Wharf Food Terminal & Ikea
Gateway Community College
Former Coliseum site & Long Wharf Theater

10. Thank You Richard Michaud, MAI Michaud Company, Inc.
431 Orange Street, New Haven
Website:
Or my