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SOUTHWEST FLORIDA

  • Q2
  • 2025

MARKET SNAPSHOT - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

The Fort Myers industrial market has seen elevated vacancy—now at 8.6%, its highest in a decade—following a surge of 1.9 million SF in new deliveries over the past year. Absorption totaled 700,000 SF, though Q1 marked the market’s first negative quarter in six years. Construction has slowed to 480,000 SF, and leasing activity has tapered, but strong 2024 leasing volume (nearly 3 million SF) should support occupancy moving forward. Rents rose 2.9% year-over-year to $13.60/SF, with steady growth projected. A bright spot in the investment market came in April, when Exeter Real Estate Income Trust acquired 16680 Oriole Road—a 250,000 SF facility built in 2023—for $43.5 million ($174/SF)—a strong indicator of ongoing institutional confidence in Fort Myers’ long-term industrial fundamentals. The Naples submarket remains tight, with a 3.7% vacancy rate and minimal new development—under 25,000 SF is currently underway. Rents average $18.00/SF, up 2.9% year-over-year, and small-bay space commands premium rates. While leasing activity has been muted, low inventory and consistent demand have helped sustain pricing. Sales volume dropped to $71.6M, but local owner-users continue to drive stable deal flow. Punta Gorda’s vacancy rose to 8.9% due to 420,000 SF of new deliveries, outpacing 220,000 SF in absorption. Still, with 260,000 SF under construction and rents up 2.9% to $14.10/SF, the market shows healthy fundamentals. Sales totaled $8.5M, and pricing remains attractive relative to other SW Florida metros, drawing value-focused users and investors.

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps.

  • Q1
  • 2025

MARKET SNAPSHOT - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

Sarasota's industrial market has seen a surge in construction and a corresponding rise in vacancy. The vacancy rate climbed to 4.9% following 1.6 million SF in new deliveries and limited net absorption beyond United National Foods’ 1 million SF cold storage facility. Leasing volume totaled 1.4 million SF in 2024, though most large deals were renewals. Asking rents grew 3.6% YoY to $13.20/SF, but rent growth has cooled from previous years. Investment activity is strong, totaling $301 million in the past year—triple the pre-pandemic average. Institutional capital made its mark in Q1 with major transactions such as AEW’s $45 million acquisition of the vacant Palmetto Industrial Park. Owner-users like Jarlin Cabinetry and Furniture Warehouse targeted newer industrial inventory, acquiring assets at approximately $150 PSF. ERES also contributed to first-quarter activity with the sale of an 11,632 SF industrial flex property at 6289 Tower Lane, which sold to a user for $3.5 million (~300/SF) in March. Fort Myers remains a regional powerhouse, with 42 million SF of inventory and 940,000 SF delivered in the past year. The vacancy rate sits at 6.4%, up from 0.9% in early 2023, but a decline from its mid-2024 peak. Demand is catching up to supply, with 600,000 SF absorbed in 2024, narrowing the supply-demand gap from over 1 million SF in 2023 to just 500,000 SF. With only 1.6 million SF under construction—mostly sub-100,000 SF...

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps.

  • YEAR END
  • 2024

MARKET SNAPSHOT - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

Sarasota’s industrial market has experienced significant growth in recent years, with 4 million SF delivered over the past three years—more than double the amount delivered between 2014 and 2019. However, the rapid expansion has led to rising vacancy rates, now at 4.8%, up from the record low of 1.1% in late 2022. Given the lack of inventory volume of leasing has decreased, however, absorption has remained positive, largely driven by United National Foods’ move into a 1-million SF cold storage facility. Asking rents have grown 4.2% year-over-year to $13.10/SF, while investment activity has flourished, with $238 million in sales over the past year. Notable transactions include AEW Capital Management’s $45 million acquisition of Palmetto Industrial Park and user sales like Jarlin Cabinetry’s purchase of a newly built facility for $22.3MM. Fort Myers stands out as a strong industrial hub with 42.1 million SF of inventory and $320 million in investment activity in 2024, including...

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps.

  • Q3
  • 2024

MARKET SNAPSHOT - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

The Sarasota industrial market's vacancy rate has hovered around 4%. Absorption has been positive, with 1.3M SF over the past year, boosted by United National Foods' upcoming occupancy of a 1M SF cold storage facility. However, future absorption prospects remain limited, with leasing activity stalling and larger deals becoming rarer. Asking rents have increased by 4.8% year-over-year to $12.90 PSF, but growth is slowing. Investment activity saw a notable increase, with $270M in sales over the trailing 12 months, highlighted by AEW Capital Management's $45M purchase of Palmetto Industrial Park. Fort Myers' industrial market, the second-largest in SW Florida after Sarasota, has seen a rise in its vacancy rate to 5.7%, an eight-year high, due to a surge in.....

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities

  • Q2
  • 2024

MARKET SNAPSHOT - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

Sarasota’s industrial market has seen its vacancy rate rise to 4.0% as Q2 comes to a close. This is due to the delivery of 1.2MM SF of new industrial space over the past year. An additional 1.8MM SF is currently under construction, including a significant build-to-suit project for United National Foods, located within the SRQ Logistics Center. As a result, the market is poised for record-breaking absorption and deliveries in 2024. Rent growth has decelerated to 5.7% as new supply has increased the vacancy rate from historical lows. With inconsistent net absorption, the market is expected to see a further rise in vacancy rates as more speculative developments are completed....

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities

  • Q1
  • 2024

MARKET RECAP - SW FLORIDA | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

There’s a notable gap between supply and demand in Sarasota’s industrial real estate market. With 1.6 million square feet delivered in the past year and only 470,000 SF absorbed, the vacancy rate in the region sits at 3.7%, its highest in 8 years (Q1 2023 sat at 1.8%). While leasing activity has slowed there has still been a 6.5% year-over year increase in average asking rents. This is, however, significantly lower than the peak of 12% the market experienced at this time last year.

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities

  • YEAR END
  • 2023

END OF YEAR MARKET RECAP & 2024 PROJECTIONS | INDUSTRIAL, OFFICE, MULTIFAMILY & LAND

Commercial real estate remained strong across industrial, office and land in SW Florida throughout 2023. Multifamily experienced more significant fluctuations as the construction pipeline reached historical highs and renter demand slowed simultaneously. That said, 2024 appears promising across the board...

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities

  • Q1-Q2
  • 2023

BUY VS. BUILD VS. LEASE | INDUSTRIAL IN SW FLORIDA

The Southwest Florida Industrial Market has experienced a boom since 2021. As indicated in the chart below, industrial vacancy rates in the region are at an all-time

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities

  • Q3
  • 2023

THE TIDES TURN FOR MULTIFAMILY ON THE GULF COAST

Q4 2022 showed promise for the multifamily sector on the Gulf Coast of Florida, but the outlook is beginning to shift. While new residents proceed to pour into the market, the substantial delivery of new construction in recent months has created a sizable imbalance between supply and demand.

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities.

  • Q1
  • 2023

LAND SALES ARE UP IN SOUTHWEST FLORIDA

The Gulf Coast of Florida is experiencing a huge surge in land sales across the region. In Q1 2023, sale prices have rocketed past the national average of

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities.

  • Q1
  • 2023

OFFICE IN FLORIDA - A STABLE, LONG-TERM ASSET

The post-pandemic world created a multitude of question marks surrounding the future of traditional office space. However, new studies report that 66% of

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities.

  • Q4
  • 2022

MULTIFAMILY REMAINS A GREAT INVESTMENT IN SW FLORIDA

Even with the threat of an economic downturn looming, the West Coast of Florida still proves to be full of lucrative investment opportunities across the multifamily sector.

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities.

  • Q4
  • 2022

INDUSTRIAL IS BOOMING IN FLORIDA

The influx of residents flocking to South Florida has been the number one factor fueling the huge demand for industrial property in the market.

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SARASOTA, FL

Chris DiBitetto | Managing Broker

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Chris DiBitetto has over a decade of experience in the real estate industry. As Vice President and Managing Broker of Florida, Chris specializes in tenant/buyer representation, leasing advisory, investment sales, portfolio advisory & management, and strategic planning. Chris is responsible for growing the full suite of ERES services with a focus on brokerage. He is licensed in Virginia, the District of Columbia and Florida. Prior to joining ERES in 2023, Chris served as an associate director for over 7 years with NEWMARK in their Tysons, VA office serving the Washington DC Metro Region. He has previously worked as an associate broker at Colliers International and, before beginning his career in commercial real estate, gained valuable experience in Washington as a litigation legal assistant for both a reputable Manhattan-based law firm and for the US Navy Judge Advocate General’s (JAG) Corps. Chris holds a bachelor’s degree from the George Washington University and received his master’s degree in real estate finance from Georgetown University in 2013. He earned national recognition within the real estate industry with his capstone thesis, Sovereign Wealth Funds: Encouraging Foreign Investment in U.S. Real Estate, when it was published by The Association of Foreign Investors in Real Estate (AFIRE). Chris has previously served as a co-chair with the BUILD Metro DC organization, a program offering entrepreneurship-based, experiential learning opportunities to youth in under-resourced communities.

BOZEMAN, MT

  • Q2
  • 2025

MARKET SNAPSHOT - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

The Bozeman retail market remains one of the tightest in the region, with vacancy sitting near 1.1% as of Q3 2025—well below national averages and even its own five- and ten-year trends. The market absorbed 31,000 SF over the past year while only 5,300 SF was delivered, pushing vacancy down by 40 basis points year-over-year. Submarket performance remains strong across the board: mall and strip center vacancies hover around 0.0%, general retail is at 0.8%, and neighborhood centers hold at a healthy 2.8%. While 230,000 SF is currently listed as available, that only translates to a 3.4% availability rate, with demand for high-visibility and foot-traffic-driven locations—especially along Main Street—remaining strong. Notable Q2 sales include a 25,000 +/- SF freestanding retail condo at 2320 West Main Street and another at 511 North 7th Ave spanning 17,115 +/- SF (price undisclosed on both). Nearly 50,000 +/- SF of retail space is under construction, primarily at Gallatin Crossing. Future occupants include Arhaus Furniture & Lululemon, among others. Mixed-use developments....

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2025

MARKET SNAPSHOT - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

Bozeman’s retail market remains remarkably tight and stable, with a vacancy rate of just 1.5% as of Q2 2025—virtually unchanged from a year ago and well in line with the market’s five-year average of 1.4%. Despite minimal net absorption (-1,500 SF) and modest deliveries (2,300 SF), the market continues to maintain near-full occupancy, signaling healthy demand and limited turnover. Across retail subtypes, fundamentals remain strong. Strip centers and malls report...

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • YEAR END
  • 2024

MARKET SNAPSHOT - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

Take a look at the trends that have shaped the retail, multifamily, hospitality, industrial and office sectors throughout the last quarter of 2024 in the Greater Bozeman Market! See our 2025 projections, too!

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q3
  • 2024

MARKET SNAPSHOT - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

Take a look at the trends that have shaped the retail, multifamily, hospitality, industrial and office sectors throughout the third quarter of 2024 in the Greater Bozeman Market!

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q2
  • 2024

MARKET SNAPSHOT - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

Take a look at the trends that have shaped the retail, multifamily, hospitality, industrial and office sectors throughout the first quarter of 2024 in the Greater Bozeman Market!

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2024

MARKET UPDATE - RETAIL, MULTIFAMILY, HOSPITALITY, INDUSTRIAL & OFFICE

Take a look at the trends that have shaped the retail, multifamily, hospitality, industrial and office sectors throughout the first quarter of 2024 in the Greater Bozeman Market!

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • YEAR END
  • 2023

END OF YEAR MARKET RECAP & 2024 PROJECTIONS | RETAIL, MULTIFAMILY HOSPITALITY & INDUSTRIAL

Retail is ending the year strong in Bozeman and the surrounding areas. With a vacancy rate of just 1.0% and 12-month net absorption of 123K square feet, it makes sense that asking rental rates have continued to rise. Following a 3-year upward trend of a cumulative 9% increase...

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Bozeman, MT

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2023

HOSPITALITY REMAINS STRONG IN GREATER BOZEMAN

It’s no surprise that the Bozeman region experienced a huge spike in tourism following the Covid-19 pandemic. It seems as if everybody wanted to get outdoors

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BOZEMAN, MT

Mike Elliott | Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2023

MULTIFAMILY CONSTRUCTION IS BOOMING IN GREATER BOZEMAN

The lack of housing in the Greater Bozeman area over the past few years has not gone unnoticed. New multifamily construction has taken the region by storm,

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BOZEMAN, MT

Mike Elliott | Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2023

INDUSTRIAL EXPANSION CONTINUES IN GALLATIN VALLEY

The Bozeman/Gallatin Valley industrial market remains in expansion mode, with demand far outweighing supply. Though many are eager to find suitable space in

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BOZEMAN, MT

Mike Elliott | Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

WEST TEXAS

  • Q2
  • 2025

WEST TEXAS MARKET RECAP - INDUSTRIAL & LAND

Midland’s industrial market remained stable through the second quarter of 2025. As of the end of Q2, the vacancy rate was 6.3%, down 70 basis points from Q1. The quarter saw net absorption of 64,232 SF with no new deliveries—a dynamic that continues to support tightening fundamentals. While construction remains modest, 15 properties totaling approximately 115K SF are currently underway, accounting for just 0.6% of total inventory, with 15.2% preleased. Rents in Midland were relatively flat quarter-over-quarter, standing at $17.29/SF, reflecting a -0.2% year-over-year change. Flex space outperformed with an average of $19.27/SF, while logistics averaged $17.11/SF and specialized industrial was at $17.97/SF. Over the past year, Midland has reported 72 total industrial sales, with pricing averaging $123.73/SF and a market cap rate of 9.2%

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q1
  • 2025

WEST TEXAS MARKET RECAP - INDUSTRIAL & LAND

The industrial markets of Midland and Odessa remain key drivers of the Permian Basin’s economy, with strong energy-sector demand keeping vacancy rates stable and rental prices competitive. While smaller than major Texas metros, both cities maintain steady industrial growth, supported by measured development and strategic importance to oil and gas operations. Midland’s industrial market remains tight, with a 6.4% vacancy rate—below the national average—due to limited new construction (0.5% of inventory). With strong demand from the energy sector, average asking rents stand at $17.42/SF, significantly higher than national levels. While expansion lags behind major Texas metros, Midland’s industrial sector remains a crucial logistics hub for oil and gas.

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • YEAR END
  • 2024

END OF YEAR MARKET RECAP & 2025 PROJECTIONS | INDUSTRIAL & LAND

The Midland and Odessa industrial real estate markets present contrasting dynamics as of Q4 2024, reflecting the unique characteristics of these West Texas hubs. However, both markets reflect a preference for updated and improved properties. In Odessa, the industrial market maintains a stable vacancy rate of 8.0%, consistent with its five-year average. Over the past year, the market has absorbed 160K +/- SF while delivering 210K +/- SF of new inventory, leaving 63K +/- SF under construction. Market rents in Odessa average $13.20/SF, with minimal annual growth, falling short of the 2.1% national rent growth. Despite this, the market’s pricing of $77/SF remains competitive, supported by steady sales activity totaling $23.7 million over the past year and a cap rate of 9.4%. Odessa’s market shows resilience, benefitting from consistent demand and balanced supply. In contrast, Midland's industrial market has faced challenges with higher vacancy rates and negative demand throughout 2024, resulting...

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q3
  • 2024

WEST TEXAS MARKET RECAP - INDUSTRIAL & LAND

During Q3 2024, Midland’s land market displayed steady activity, with 21 transactions contributing to a total sales volume of $2.2 million. The total land area sold amounted to 9.2 million SF, with an average of 437,000 SF per transaction. The average sale price PSF was $1, with average sale price standing at $748,000. Compared to asking prices, sales in Midland were, on average, 11.6% lower, reflecting some negotiation or softening in the market. Properties also took longer to sell, with an average of 11.9 months to close. Meanwhile, Odessa’s land market was much quieter in Q3 2024, with...

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q2
  • 2024

WEST TEXAS MARKET RECAP - INDUSTRIAL & LAND

As Q2 comes to a close, Midland's land market stands out with higher prices and larger parcels. The average price for properties for sale is around $3.26 PSF, with sold properties averaging just over $2.44 PSF. The typical parcel size for properties on market is 14.37 +/- AC, and for sale transactions, 11.87 +/- AC. However, transactions in Midland take longer to finalize, with properties averaging 485 days on the market and sold transactions often exceeding two years. This market suits investors looking for substantial.....

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q1
  • 2024

WEST TEXAS MARKET RECAP -INDUSTRIAL & LAND

Despite the historical volatility of the Midland industrial market, the past year has seen a robust surge in demand. Over the past year, industrial tenants have snapped up an estimated 280,000 square feet of space, underscoring a buoyant market sentiment. Even with a notable influx of new constructions (among them, the $7B Nacero Penwell facility slated for production to bein in 2025), Midland has managed to keep vacancies in check, boasting a market-wide vacancy rate of 6% as of early March 2024. This is just below the national.....

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Midland, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • YEAR END
  • 2023

END OF YEAR MARKET RECAP & 2024 PROJECTIONS | INDUSTRIAL & LAND

Industrial in West Texas began 2023 with high rental rates that were nearly double the national average. There were also few reported projects in the pipeline, average PSF sale prices and higher than average cap rates of 7.45%. As we edge towards 2024, nearly 130,000 SF of industrial has been delivered in Odessa (mostly warehouse and distribution space) and 180,000 SF...

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MIDLAND, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q2
  • 2023

INDUSTRIAL LAND SALES IN MIDLAND & ODESSA, TX

While land sales have steadily slowed across the national market, the Midland & Odessa markets remain steady. Thirteen commercial (industrial) land transactions

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MIDLAND, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

  • Q1
  • 2023

THE INDUSTRIAL MARKET IN MIDLAND & ODESSA, TX

Rental rates are on the rise in the Midland and Odessa industrial markets as inventory dwindles and development slows. Average lease rates sit at $14.92 PSF,

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MIDLAND, TX

David Pearson | Managing Broker

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David Pearson joined ERES’ Midland office in 2018 to support the company’s Texas brokerage division, primarily focusing on business development and West Texas energy markets. Bringing over 15 years commercial brokerage experience, David specializes in the acquisition, disposition, development and maintenance of commercial and unimproved properties. A highly engaged partner providing personalized client services, David’s greatest strength lies in his ability to identify, analyze and value commercial property opportunities that hold long-term appreciation potential and income stream generation. David adds unique value to ERES brokerage clients due to his varied background and vast expertise in land acquisition evaluation, financial analysis, agriculture, and the oil and gas industry. Prior to joining ERES, David ran his own successful Lubbock-based brokerage firm, spent 15 years as a Principal Land Broker specializing in the acquisition, development and expansion of unimproved properties, and was Vice President at one of Texas’ largest bank holding companies servicing clients with credit needs from $10 to $100 million. He currently and previously has served on many corporate boards including Vice Chairman of the Pension Committee for Cotton Incorporated, and Vice Chairman of the Board for Plains Cotton Cooperative Association for over 17 years where he was responsible for overseeing domestic and Central American operations David attended Texas Tech University where he earned a Bachelor’s Degree in Agricultural Economics and a Master of Business Administration with a focus on Corporate and Real Estate Finance. He is currently a member of the North Texas Commercial Association of Realtors and has been a licensed real estate broker in Texas since 2005. He also has held broker licenses in Arkansas, New Mexico and Oklahoma.

WILLISTON, ND

  • Q2
  • 2025

MARKET SNAPSHOT | INDUSTRIAL & MULTIFAMILY

The Williston industrial market ended Q2 2025 on solid footing, posting a 3.2% vacancy rate—a sharp decline from 5.4% in the previous year, underscoring growing demand and strong tenant retention. While there were no new deliveries or construction starts this quarter, the 12-month net absorption reached 140,000 SF, an 8.6% increase over the prior period. This absorption trend reflects a resilient industrial base and continued user confidence in the Bakken-adjacent region. Market rents ticked up to $16.37/SF, representing...

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2025

MARKET SNAPSHOT | INDUSTRIAL & MULTIFAMILY

The Williston industrial market entered 2025 with healthy fundamentals, continued leasing momentum, and improved investor confidence. A total of 24 industrial properties are currently listed for sale, averaging an asking $140/SF, with an attractive average cap rate of 9%. These listings continue to draw attention, particularly as end-user demand remains strong for well-positioned assets. Sales activity in Q1 included six industrial transactions at an average price of $127/SF. On the leasing front, 15 listings are actively on the market with asking rates...

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • YEAR END
  • 2024

END OF YEAR MARKET RECAP & 2025 PROJECTIONS | INDUSTRIAL & MULTIFAMILY

Williston’s industrial market demonstrated notable resilience in 2024, with vacancy rates dipping to 3.7%, breaking a prolonged 4-5% plateau. The limited available inventory consists mainly of specialized buildings and flex space, while logistics facilities for typical users remain fully occupied. Market asking rents average $15.72 PSF/year ($1.31 PSF/month), a modest 1.2% year-over-year increase but a substantial 19% rise from 2020. Rent growth, subdued in 2024, is expected to rebound if energy market conditions stay favorable...

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q3
  • 2024

MARKET SNAPSHOT | INDUSTRIAL & MULTIFAMILY

Industrial vacancy rates in Williston have stabilized around 5% over the past year and are expected to remain at that level due to the limited availability of suitable properties. The negligible vacancy that exists is largely driven by tenant turnover. Strong demand and a lack of new construction are pushing rental rates upward, with current rents averaging $15.48 per square foot, a 1.8% increase from last year. Low vacancy has perpetuated across the Bakken into smaller surrounding markets. In Watford City, vacancy dropped below........

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q2
  • 2024

MARKET SNAPSHOT | INDUSTRIAL & MULTIFAMILY

Vacancy rates in the Williston industrial market are bottoming out around 5% as Q2 comes to a close. Vacant inventory is comprised mostly of larger industrial leading to inflating vacancy metrics due to buildings too large, expensive, and/or specialized for the average user in this market. A handful of smaller shops (<10,000 SF) are available for lease or purchase and with no new inventory in the pipeline thus, inventory will remain scarce. Industrial rents average $15.80/SF, a.....

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2024

MARKET RECAP | INDUSTRIAL & MULTIFAMILY

Take a look at the trends that have shaped the industrial & multifamily sectors throughout the first quarter of 2024 in the Williston market!

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WILLISTON, ND

Mike Elliott | CEO & Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • YEAR END
  • 2023

END OF YEAR MARKET RECAP & 2024 PROJECTIONS | MULTIFAMILY & INDUSTRIAL

Vacancy rates kicked off 2023 at around 10%. As we close out the year, that number has been cut in half to 5%. As vacancy rates have dropped, rental rates have steadily increased, rising from around $12 PSF at the start of the year to a current asking rate of over $13 PSF...

WILLISTON, ND

Mike Elliott | Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

  • Q1
  • 2023

THE MULTIFAMILY MARKET IN THE HEART OF THE BAKKEN

Favorable energy market conditions have led to steady increases in occupancy and rental rates across the Bakken. Both Watford City & Williston emerged from...

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WILLISTON, ND

Mike Elliott | Managing Broker

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Mike Elliott has over 25 years of experience in the real estate industry serving both domestic and international clients. He specializes in the energy industry with an emphasis on key shale plays. As Chief Executive Officer of Energy Real Estate Solutions (ERES), Mike provides brokerage, development, investment, joint venture and other real estate advisory services to organizations seeking specialized, knowledgeable support in and around the world’s most active energy sites. Prior to the launch of ERES, Mike was a Senior Vice President at CBRE where he founded and led their National Energy Facilities Group, offering services in brokerage, project management, capital markets, development and other related services to both national and global energy firms. Among other extensive industry and brokerage experience, Mike was the CEO and Founding Principal of Catalyst Real Estate Solutions and Grubb & Ellis|Catalyst, where he oversaw all operations of development, investments, real estate brokerage, management and consulting. Mike received his Masters in Real Estate and Construction Management and his BS in Business Administration from the University of Denver. Mike is a licensed real estate broker in Colorado, Montana, Nebraska, North Dakota, and South Dakota. Mike served as an Adjunct Professor in the University of Denver’s Real Estate and Construction Management program where he taught Real Estate Finance in the Undergraduate, Graduate and Executive Graduate programs. He previously served as Co-Chair of the Advisory Board of University of Denver’s Burns School of Real Estate and Construction Management, NAIOP Membership committee, and Denver Metro Commercial Association of Realtors®.

DENVER, CO

  • Q1
  • 2023

THE INDUSTRIAL MARKET IN COLORADO SPRINGS, CO

The US News and World Report lists Colorado Springs as one of the top places to live and work in Colorado. A cost-of-living far lower than that of Denver, the recent

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DENVER, CO

Joe Pierce | Vice President

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Joe Pierce joined ERES as a Vice President and key member of its Brokerage team. His credentials include over 22 years of commercial real estate experience, first-hand knowledge of the energy industry and hands-on insight into key operational issues for businesses both large and small. Joe has extensive expertise with both public and private developers and owners, and a deep understanding of a wide spectrum of property types including office, industrial, medical and land. To date, he has led leasing efforts for nearly 60 properties totaling close to 7 million square feet and $300 million in gross revenue. His experience includes landlord and tenant representation, build to suit projects, dispositions, contract negotiations and market analysis. Over the last two decades, Joe has served in leadership positions for a variety of real estate firms and organizations geared toward oilfield and energy services. His professional experience has given him on-the-ground exposure to some of the most active energy markets in the U.S. including Colorado, Wyoming and North Dakota. Joe lives in Colorado with his wife and two sons. He enjoys golf and coaching youth basketball and football.