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SEATTLE-The greater Seattle region was the “Top Sellers Market” in the nation through the first half of 2002, according to a new study by Sperry Van Ness of San Francisco that looks at capitalization rates and price-per-sf paid.

The study, which looked at 65 transactions each over $1 million, found an average yield of 8.05% yield and an average price per foot of $85.15. The rest of the top five were Ventura, Calif. (8.58% yield / $75.76 price per foot), San Diego (9.25% yield / $91.06 price per sf), Orange County, (9.27% yield / $86.25 price per sf), and the San Francisco Bay Area (8.99% yield / $97.96 price per sf).

The “Top Buyers Markets,” according to the report, were Columbus (12.00% yield / $29.75 price per foot); Philadelphia (11.25% yield / $36.39 price per sf); Houston (9.85% yield / $24.90 price per sf); Atlanta (9.99% yield / $33.99 price per sf); and Baltimore (10.00% yield / $42.43 price per sf.).

“At this time, many clients are looking for higher returns on their investments by selling industrial properties in regions like Seattle, Ventura and San Diego, and utilizing a tax fee exchange (1031) into markets such as Columbus, Philadelphia and Houston”, according to David Frosh, President of Sperry Van Ness. “Serving clients in approximately 45 markets across the country, we have the knowledge to locate high quality properties in areas with higher yields.”

Sperry Van Ness has also put out similar reports for the office, retail and multifamily markets over the past couple of months. In each of those, the Seattle region has ranked in the top 10.

Last month, Sperry Van Ness issued a report on the top buyer and seller markets in the office category. For sellers, the best market was New York, with a 7.16% yield and price per sf of $265.06. The rest of the top five were the San Francisco Bay Area (8.21% yield / $210.01 per sf), Washington D.C. (8.80% yield / $179.38 per sf), Seattle (8.90% yield / $157.80 per sf), and Las Vegas (9.26% yield / $159.97per sf) round out the remaining top five.

The top five buyers market in the office market study were Atlanta (10.63% yield / $73.75 per sf); Tampa (10.07% yield / $87.15 per sf); Cincinnati (10.00% yield / $62.70 per sf); Dallas (10.75% yield / $107.92 per sf); and Philadelphia (10.00% yield / $85 per sf).

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