NAIOP commends the U.S. House for today's passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), following the U.S. Senate's passage on Thursday. We expect President Donald Trump to sign it into law shortly.\

The CARES Act will provide critical relief as businesses and individuals strive to manage the economic challenges created by the COVID-19 pandemic. We look forward to continuing our work with elected leaders on next steps, as well as supporting our members and the industry as we weather this crisis and plan for the future. 

Items in the legislation important to NAIOP members and commercial real estate include:

• An aggressive loan program for small businesses, many of which are commercial real estate tenants, that is designed to help them meet their financial obligations and keep their employees on payrolls over the next few months. The loans, which are forgivable, will provide many of our tenants with needed liquidity to keep them operating during the crisis.
   
• A much needed technical correction in the tax code for leasehold improvements, or Qualified Improvement Property (QIP). The Tax cuts and Jobs Act (TCJA) mistakenly made QIP depreciable over 39 years instead of 15, and ineligible for bonus (100% depreciation). The CARES Act fixes that, ensuring that those who made these investments in 2018 and 2019 can file amended returns and recover any overpaid taxes.
   
• Net Operating Loss (NOL) rule changes allow businesses to carry back for 5 years any losses from 2018, 2019 and 2020, and losses carried forward can offset 100% of taxable income.

Additional provisions in the CARES Act and other federal actions already taken will be much-needed help for our economy.

Hone your professional skills and gain new insights with NAIOP's on-demand courses. These online courses provide maximum flexibility for commercial real estate professionals to learn from home from the best in the business.

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Hello fellow NAIOP members,

We know most of you are working from your new home office and trying to keep life moving forward as normal as possible. While we are in very interesting and ever-changing times, we also want to do all we can to keep the commercial real estate market moving in a positive direction, albeit in a manner that makes sense and keeps people safe and healthy. This is so important to our state and local economies and, more importantly, to the many families that depend on the paychecks that our industry provides.

We have been very fortunate to have our local leadership continue to work keeping things open for business. We ask you to support our leadership, both locally and statewide, as difficult decisions are being made but done so in an effort to best fight the coronavirus. With most of us working from home, hopefully, it will help keep the spread to a minimum thus allowing us to get back to business as usual sooner rather than later. In the meantime, your NAIOP Charlotte leadership is discussing virtual learning opportunities to discuss best practices for dealing with this so that we can all share and learn in order to benefit all of us. This situation is one where we are all in it together and so anything we can share and learn will benefit all of us.

Our NAIOP staff is also working to put together conversations, that will be shared via webinars, within the next week. We see great opportunities to both keep our members informed, learning and connected. We are missing the comradery that we love to share and so, hopefully, any forums or virtual meetings we can have will help to meet some of that connectivity.

Originally published in the Winter 2019/2020 Issue by David Schneider, Herman Lipkis

There are a lot of reasons for developers to embrace these temporary spaces, but due diligence is required.

Pop-ups and short-term uses for commercial property have grown from a trendy concept into a means of monetizing vacant or underused spaces. Moreover, as improved and varied amenities have become a priority for commercial and residential tenants, real estate developers are starting to reframe how they think about existing and future development.

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Currently, all local planning and development offices are open and continuing inspections. The NC Department of Insurance is aware of issues with the register of deeds offices working with a smaller crew and is continuing to stay in communication with local, state and federal officials to ensure construction, permitting, and business can continue as usual as much as possible. For more information, please go to the COVID19 Resource page, where you will find links to local government updates and much more.

It is the direction from the NC Department of Insurance that all inspections and permitting should continue. Click here to read the letter from NCDOI.

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Join NAIOP Charlotte on Tuesday, March 24th at 2-2:30 p.m. ET for The Advantage Series is an exclusive member benefit, delivering expert insights into the latest research to help you make informed business decisions.

Repercussions from the ongoing COVID-19 pandemic are far-reaching and still quite unknown, but one thing is for certain: the impact on commercial real estate will be substantial. A week ago, CRE fundamentals were solid; will that improve our recovery timeline? What do experts see for the potential future of the industry? How do you recognize a deal today, and know whether it’s better to act quickly or hold? The questions are numerous, and NAIOP is here with guidance to support you today and get you thinking ahead for tomorrow. Have a question for our speakers? Submit it now.

Speakers:
Larry Lance, Executive Vice President-Asset Services, EverWest Real Estate Investors, and 2020 NAIOP Chairman
Al Pontius, National Director of Office & Industrial, Marcus & Millichap
John Chang, National Director of Research Services, Marcus & Millichap

Click Here to Register

The COVID-19 situation has quickly upended our lives, as companies shift to operating remotely full-time and we adjust how we work and socialize. Of course, our industry and your business remain top of mind as uncertainty in the market abounds.

Rest assured that NAIOP is focused on providing you knowledge that you and your company need right now.

We've launched a website to make it easy to find our resources, with helpful links, and a place to share your thoughts and volunteer to share expertise with our members.

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The building may be closed, but make no mistake – Mecklenburg County Code Enforcement is open for business. Their dedication to serving customers and being a partner in building a thriving community has not wavered. 

Nearly all of the services can be accessed online. Links to all customer portals, staff contact information, and other customer resources are listed on MeckPermit.com. They are also maintaining a list of all modifications we have made and will make in response to the COVID-19 pandemic.

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Senate lawmakers cancelled a planned recess and will instead remain at work in Washington, D.C., this week, where they will take up a bill passed by the House of Representatives last week that seeks to provide immediate economic relief from the effects of the novel coronavirus, COVID-19. 

The House voted overwhelmingly, 363-40, to approve the measure, for which President Donald Trump had signaled support. The Wall Street Journal reported: “The new measure would still provide two weeks of sick leave to a wide swath of workers affected by the pandemic, including those who are in quarantine, caring for family members with Covid-19, and those who have children whose schools or day-care centers have closed.” The bill would also make free testing for the coronavirus available.

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Today, NAIOP President and CEO Thomas Bisacquino shared the following statement with NAIOP members regarding the operating status of the organization during the COVID-19 situation.

The unprecedented COVID-19 situation is affecting every aspect of our businesses and lives. While NAIOP member benefits and services will not be impacted, the NAIOP Corporate office is adjusting our normal business practices to protect the health and well-being of our staff.

Beginning Monday, March 16, NAIOP Corporate will operate on a virtual basis. Staff are completely reachable during regular business hours (8 a.m.-5 p.m. ET) via phone and email, which you can find on our Contact Us page.

You can renew or modify your membership online, and you can communicate with a membership specialist by emailing [email protected].

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Originally published on March 15, 2020, by Dees Stribling at Bisnow National

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Originally on March 04, 2020, by Erika Morphy via GlobeSt.com

Construction costs, which have been on the rise for years, were slated for another increase this year. But there was good news: cost growth was expected to be at a slower pace than previous years, according to the JLL 2020 Construction Outlook. Unfortunately there is also bad news: the coronavirus has just added an element of uncertainty to projections about construction costs.

The Advantage Series is an exclusive member benefit, delivering expert insights into the latest research to help you make informed business decisions.

The declining prospects of North America’s shopping malls have been the subject of significant media attention, industry concern, and public interest. Faced with competition from e-commerce and shifting consumer preferences for other retail formats and experiences, hundreds of traditional shopping malls have closed in recent decades, with many more closures expected in the coming years. However, while many of these properties may no longer support a traditional mall, they are often strong candidates for redevelopment.

This webinar will highlight how developers have revitalized properties by adding new uses, amenities, and services. Based on the findings in “Repurposing Retail Centers” — a recently completed study commissioned by the NAIOP Research Foundation — presenters will examine how developers are transforming struggling or closed malls into properties that fit within current market conditions and serve the needs of their surrounding communities. In addition to covering several redevelopment examples from across North America, the Highland Mall project in Austin, Texas, will serve as a principal case study that addresses a wide range of contemporary issues for repurposing mall properties.

Speakers:

Hone your professional skills and gain new insights at home with NAIOP’s on-demand courses. These online courses provide maximum flexibility for commercial real estate professionals to learn from home from the best in the business. 

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Senate lawmakers cancelled a planned recess and will instead remain at work in Washington, D.C., this week, where they will take up a bill passed by the House of Representatives last week that seeks to provide immediate economic relief from the effects of the novel coronavirus, COVID-19. 

The House voted overwhelmingly, 363-40, to approve the measure, for which President Donald Trump had signaled support. The Wall Street Journal reported: “The new measure would still provide two weeks of sick leave to a wide swath of workers affected by the pandemic, including those who are in quarantine, caring for family members with Covid-19, and those who have children whose schools or day-care centers have closed.” The bill would also make free testing for the coronavirus available.

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The second annual Summit on the State of Housing in Charlotte has been postponed. This event will address the analysis of the "State of Housing in Charlotte" report, sponsored by Canopy Realtors® Association and include a comprehensive inventory of the current housing.

New Conference Date Coming Soon...

Due to concerns regarding the COVID-19 outbreak, NAIOP has made the difficult decision to postpone our upcoming March 26th NAIOP NC Conference. Above all, the health and safety of our members and event attendees remains our top priority.

We are diligently working on a reschedule date and will notify all attendees of the new date.

Regarding Hotel Rooms:
Pinehurst Resort will automatically cancel your room and refund your deposit. Please call 1-855-318-2887 for questions regarding your room.

Regarding Conference Registration:
Your NAIOP NC conference registration will automatically be transferred to the new conference date. Once the new date is released and your schedule does not allow you to attend, refund requests will be honored.

For questions and concerns contact NAIOP Piedmont Triad Chapter at [email protected] or 336-379-0603.

The NAIOP Charlotte leadership is closely monitoring the rapidly evolving COVID-19 outbreak. The health and well-being of our members is our top priority, and we are taking the threat of this virus seriously. After continued monitoring of events and reviewing protocol of other similar organizations, we have decided the responsible course is to adopt social distancing protocol for all NAIOP Charlotte activities through mid-April. We are doing this not only to protect you, your colleagues and our community. We are looking at manners to deliver programs remotely and encouraging small groups to meet virtually. The specific steps we are taking:

• Programs and Events — All public events during this time, and some larger events that are scheduled to occur later, are postponed or provided with remote access, where is practical. As updates are available, we will post it to our website at www.naiopclt.org.
• Committee and Board Meetings — All internal NAIOP meetings during this time will take place over video/ conference. NAIOP will provide group conferencing capability. If you determine that a virtual platform is not appropriate for your meeting, we will reschedule.
• Stay Connected — During this difficult time, we will explore other ways to continue to do what NAIOP does: allow members to connect and share insights. If you have any ideas for online platforms, webinars, etc. please feel free to share with us.
• And finally — Events and activities the middle of April will proceed with planning efforts, as this is a fluid situation.

The NAIOP State Conference in Pinehurst is postponed. We are working to gather more details about the new dates, transferring room reservations, and registrations. When we have more information, we will notify you as soon as possible. Updates will be available at www.naiopnc.org.

During these times, our NAIOP staff may choose to work remotely as well. You may call our offices at 704-940-7383 and leave a message and our team will return calls within 2-4 business hours, or reach out via email at [email protected].

Thank you for your understanding as we all cope with this difficult situation. You are what makes NAIOP a great organization and we are so very grateful for your support. If you have any questions, please reach out to the NAIOP staff and leadership team directly.