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For more than two decades Colliers Turley Martin Tucker has maintained an in-house research department with a professional staff and computerized market data. Today our research department consists of ten dedicated professionals, several of whom have more than fifteen years of experience in the commercial real estate industry. The department is widely considered the most current and comprehensive of its type in the Central Region, and the most respected source of information on the markets it covers.
CTMT invests significant resources in research for the benefit of our clients. Using proprietary databases and software to increase both the level of accuracy and the level of detail in the information collected, our research department provide clients with current and complete analyses of market conditions critical to their decision-making processes.
We publish a number of reports each year describing conditions and trends in the industrial, office, retail, land and investment markets. We continuously monitor availability, property sales, vacancies, net absorption, tenant occupancy, construction activity and a host of other key indicators. All of this information is included in extensive databases encompassing virtually every commercial building and tenant in CTMT's markets. Our brokers review and correct the databases as they use them on a daily basis, and they formally survey their metropolitan areas' markets each quarter. As a result, the databases provide up-to-the-minute information on current availability as well as more than fifteen years of trend data on construction, vacancy and net absorption.
The greatest benefit of our research is its ability to respond to the needs of each client. The interests of an individual client hinge upon the property types, classes and submarkets relevant to the client's property ownership or occupancy needs. Our ability to "drill down" to any level of detail enables us to address the critical issues for a specific property profile. This ability to serve our clients is a focal point for CTMT. Both the expertise of our research department and the information in our databases are available to our clients for use in special projects that range from site searches and submarket reviews to feasibility analysis.
For the client landlord seeking tenants, our tenant database contains thousands of records including contact name, square feet occupied, year of original occupancy, tenure, lease expirations, and four-digit standard industrial classification. For the tenant seeking space to occupy, thousands of property records are maintained including property location, type and size, availability, ceiling height, amenities, parking ratio, lease rate, occupancy level and many other data items. Records of recent sale and lease transactions include all of the property characteristics and the tenant characteristics as well as the financial terms of the transactions.
As an owner/member of Colliers International, CTMT participates in and has access to quarterly surveys of office and industrial markets in over 50 U.S. cities. Market reports based upon these surveys include inventory, vacancy, absorption and rental rates in side-by-side comparisons for these cities as well as quarter-to-quarter comparisons and aggregated national statistics. Investment sales prices and cap rates are reported as well.
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