submarket


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submarket

A small geographical area that is clearly identifiable,at least to local residents,and that contains the logical users of specific goods and services being offered to the public.Submarkets will vary depending on the businesses defining them.

Example: In Houston, Texas, the Highway 290 submarket may define the customers for billboard advertising. Off 290, the Cypress submarket may define customers for a shopping center, and in Cypress, Enchanted Valley may define the submarket for a convenience store.

References in periodicals archive ?
Also in the Los Angeles South Bay submarket, the company acquired a two-property portfolio for USD 6.
NYSE: REXR) has acquired two 100% leased industrial properties in Southern California infill submarkets, the company said.
East Brooklyn continued to dominate price growth in the borough, remaining the only submarket across Manhattan and Brooklyn to experience double-digit annual price growth at 10.
Murray Strang, head of investment and agency at Cluttons UAE said, "Firms continue to be attracted to this free-zone submarket because of the high quality of buildings and the presence of other high profile occupiers in the area.
Among urban core submarkets analyzed by Axiometrics, the Gold Coast/River North submarket in the Chicago-Naperville-Joliet, 111.
The office/warehouse submarket saw the largest decrease in vacancy rates from 28.
For example, local telephone service accounted for $65 billion and it represented the largest submarket, or 16 percent of the overall industry.
Smith, First Potomac's chief investment officer, stated, "These properties are excellent additions to our portfolio in the Greenbrier/Crossways submarket, one of our best-performing submarkets.
Miami is a key market for Clarion Partners, as demonstrated by this renewal and our recent acquisition of Westpointe Business Park, also in the Airport submarket.
8 percent) submarkets continued to tighten, as the low single-digit vacancy rates may be a signal that additional speculative and build-to-suit activity is on the horizon in the coming quarters.
MARKETS HIGHEST VACANCY SUBMARKETS LOW VACANCY SUBMARKET METRO METROS VACANCY VACANCY Downtown Los Angeles 11.
It is generally accepted that the Plaza District is Manhattan's best office submarket, and historically, its Class A rents back that up.