2014 Market Outlook
Friday, February 28 2014
Bender Commercial was very excited to host its Annual Market Outlook 2014 on February 28, 2014 at the Washington Pavilion. This year marked its 17th year. The event was attended by 300 community and business leaders. The Bender team reported on the past year in the major sectors of the Sioux Falls commercial real estate market, including office, retail, land, investment and industrial. The Governor of South Dakota, Dennis Daugaard was this year's special guest speaker.
Some highlights from this year's report include:
Sioux Falls Economic Overview - Sioux Falls had strong job growth and record constructions figures.
Retail Market - Several new national retailers entered the Sioux Falls market, including Dick's Sporting Goods, Beef O'Brady's and Costco. 2014 and 1015 should see several more new retailers coming to town.
Office Market - All the fundamental in the office market are improving including low vacancy rates citywide and rising rental rates.
Land Market - The Sioux Falls land market had seven unimproved land sales and 54 improved land sales. Of that 54 sales, 29 were to sold for retail uses.
Industrial Market - The industrial market absorbed over 1,000,000 square feet this year, resulting in low vacancy rates and rising rental rates.
Click here to view this year's Market Outlook Presentation.