Article submitted by Danny Watts,  Sales and Leasing Agent at Saurage Rotenberg Commercial Real Estate

Written by Mark Heschmeyer September 24, 2014 CoStar.com

Even as construction of new apartment buildings hit the highest monthly construction pace since the beginning of 2006, the latest absorption rates for unsubsidized, unfurnished, newly built apartments have kept pace. The Census Bureau reported that the latest 3-month and 6-month absorption rates for apartments had risen to 64% and 83%, respectively.

Driving this strong demand is an increase in the number of tenant households, which have pushed apartment vacancy rates down to the lowest level since 2000, and on average, inflation-adjusted rents in the U.S. have returned to their prior peak levels of 14 years ago, according to Freddie Mac’s latest U.S. Economic and Housing Market Outlook issued this past week.

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Danny Watts, a commercial real estate sales and leasing specialist with Saurage Rotenberg Commercial Real Estate, is a graduate of Louisiana State University (LSU). He has over 20 years experience in commercial real estate brokerage and appraisal. His areas of expertise include commercial and industrial brokerage and leasing; multi-family brokerage; lease negotiations; tenant build outs; market analysis and insight; and feasibility and valuation analysis. Danny is a member of the Commercial Investment Division (CID) of the Greater Baton Rouge Association of REALTORS®, a board member of the Perkins Road Historic Merchants District Association, and has served as a vice president for Literacy Works of Baton Rouge.

Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).