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[NEW] Commercial Real Estate Compensation Reports

Originally published on December 2, 2020, by NAIOP.

Recruiting and retaining top talent has become essential in today's highly competitive marketplace.

Is your salary and bonus package competitive? Find out with the 2020 NAIOP/CEL Commercial Real Estate Compensation and Benefits Reports.

These valuable reports enable commercial real estate businesses to stay current on salaries, bonuses, and benefits for professionals in executive and entry-level positions. The reports include submissions from over 300 companies; salary, bonus, incentives, and benefits for up to 200 positions; and data from 100,000 distinct jobs in the office/industrial, retail and residential property sectors.

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Members on the Move: Edifice Promotes Kormelink to Vice President

EDIFICE Promotes Kormelink To Vice President

Originally published on November 5, 2020, on Edifice Company News Blog.

CHARLOTTE, NC, November 5, 2020,  EDIFICE, the regional general contractor headquartered in Charlotte, is pleased to announce the promotion of Sloan Kormelink to Vice President of Business Development. 

Sloan has been with EDIFICE since 2016 and has been instrumental in expanding its footprint in the Carolinas. Her leadership will continue to strengthen EDIFICE’s relationships with its valued clients and partners, allowing the company to build upon the tremendous growth experienced over the past few years. 

N. Eric Laster, EDIFICE president, and CEO had this to say about this promotion, “Sloan continues to be one of the driving forces in our success.  I am confident she will continue to play a key role in our growth.  Her passion, winning attitude, and ability to form meaningful relationships are assets to EDIFICE and I couldn’t be happier to announce her expanded role.”

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Charlotte Future 2040 Comprehensive Plan Strategic Advisors Virtual Meeting

Originally published in REBIC's November 30, 2020 Newsletter.

Join the City of Charlotte on December 8th, 2020 for their next Ambassadors & Strategic Advisors Virtual Meeting. This meeting will further discuss the draft Charlotte Future 2040 Comprehensive Plan. As they enter Phase 4 of the planning process, your voice is more important than ever.

Please use one of the links below to register for one of the meeting times. Both meetings will be the same, but we want to offer two options to fit with your schedule. After registering with your name and email, you will receive a confirmation email containing information about joining the meeting.

MEETING #1

When: December 8, 2020, 11:30 AM Eastern Time (US and Canada)
Click HERE to register in advance for this meeting.

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Reg Rates Increase Dec. 8 | Register Today for the Annual Meeting

Annual Meeting

December 15 | 12:00 PM – 1:00 PM EST

Registration Rates Increase Tuesday, December 8

At this year's Annual Meeting, hear market updates and overviews on CRE in Charlotte from a panel of industry leaders. How is 2020 ending? What is next year shaping up to look like?

Come celebrate this unusual year, connect with friends and colleagues, and elect the 2021 NAIOP Charlotte Board!

Our Panelists


Board Nominations

Below is the Nominating Committee's recommendation for the 2021 Board of Directors.

 

Executive Committee

President: Pat Pierce, Selwyn Properties
President-Elect: Welch Liles,
Asana Partners
Secretary: Alyson Craig,
City of Charlotte

Treasurer: Steve McClure, The Spectrum Companies
Immediate Past President: Scott Harris,
Choate Construction
Past President: Tracy Dodson,
City of Charlotte
  Directors (two-year terms)

Paxton Hollar, SunCap Property Group
(1-year term)
Brian Kreefer, The Keith Corporation
(renewing)
Phil Kuttner, LITTLE
Bobbie Jo Lazarus, Elliott Davis
Dan Melvin, LandDesign
Mary Katherine Stukes, Moore & Van Allen



     
Directors (remaining on the Board)

Rad Hudson, Metromont
Ken Jonmaire, Crescent Communities
Pete Kidwell, Beacon Partners
Mike Kramer, Bank of America
  Non-Voting Liaisons

National Board Liaison: Pat Pierce, Selwyn Properties
REBIC Liaison: Madeline Keeter, REBIC
UNCC Liaison: Dr. Yongqiang Chu, UNC Charlotte Childress Klein Center for Real Estate

 

Registration

Registration for members will be free and $15 for non-members through December 7. Beginning December 8, the registration fee will increase to $10 for members and $20 for non-members. Prior registration is required. Zoom details will be sent two (2) hours prior to the event.

 

Register Here

Register Today! Annual Meeting is on Dec. 15

2020 Annual Meeting

December 15 | 12:00 PM – 1:00 PM EST

This year’s Annual Meeting will feature a panel of industry leaders providing market updates and overviews on commercial real estate in Charlotte. How are we ending the year? What is 2021 shaping up to look like?

Come wrap up and celebrate this unusual year, elect the 2021 NAIOP Charlotte Board, and connect with friends and colleagues!

Our Panelists

  

Registration

Registration for members will be free and $15 for non-members through December 7. Beginning December 8, the registration fee will increase to $10 for members and $20 for non-members. Prior registration is required. Zoom details will be sent two (2) hours prior to the event.


Register Here

 

Questions

If you have questions, please contact the NAIOP Charlotte office at [email protected].

Registration Now Open - 2021 DL Mentorship Program

2021 Developing Leaders Mentorship Program

Registration is now open for the 2021 DL Mentorship Program! This program provides a unique opportunity for personal and professional growth through focused, one-on-one sessions with accomplished professionals in the CRE industry. You may book a session with Mentors in February 2021. Meetings will take place from March through June 2021.

NOTE: Mentors are still being added to the program & updating their profiles

How to Register:

  • Go to the program website: https://mentoring.naiop.org/B5CEkQt7
  • In the menu at the top of the page, click MENTEE REGISTRATION FORM
  • Enter the email address to which this message has been sent
  • One of the following will apply to you:
    1. If you were a mentee before and your email address is the same, use the password you created before to finish logging in. The "forgot password" feature is available if needed
    2. If you were a mentee before but your email address has changed, you will need a new Login – please follow the prompts to register and set a password
    3. If you were not a mentee in a previous program, please follow the prompts to register and set a password

If 2 or 3 above applies to you:

  • A verification email will be sent to you (security protocol) so please watch your spam folder. It is important to click the link in this verification email to finalize and login for access to your registration form
  • Lastly, return to the mentorship site, click MENTEE REGISTRATION FORM again...log in with your email address and password...then you will find your form ready for you to complete

Registration Deadline: January 27, 2021

The mentorship session-booking process will be activated in February 2021.

Mentees and Mentors will be responsible for deciding to meet in person or virtually. Both parties must agree to meet in person. By registering and participating in the 2021 DL Mentorship Program, the participant hereby accepts the terms and conditions in the Participant Liability Waiver. NAIOP Charlotte reserves the right to make necessary changes to the DL Mentorship Program at any time based on national, state, and local COVID restrictions & guidelines.




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New Report: Overall Gains in Office Demand Following Short-term Challenges

Originally published on behalf of NAIOP Research Foundation on November 19, 2020. 

Negative Absorption of Office Space Expected to Continue in Short Term, Trend Positive Beginning Q2 2021

The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2020.

Key Takeaways:

  • Given the continued challenges facing the U.S. economy, office net absorption is forecast to be negative 18 million square feet in Q4 2020 and negative 10 million square feet in Q1 2021.
     
  • Growth in net absorption is forecast to resume in Q2 2021, and the total net absorption over the period from Q2 2021 to Q3 2022 will exceed negative absorption from the recession, resulting in overall gains in absorption over the next two years.
     
  • The largest office-using industries have been more insulated from the effects of the pandemic than the economy as a whole, but their shift to remote-work arrangements has diminished demand for office space.
     
  • Multiyear lease terms have mitigated the effects of reduced occupancy on vacancy rates, which have risen to 14% in the third quarter. Vacancy rates are likely to continue to rise through the end of 2020 as more leases come up for renewal.

 

View the full report.

CRE Financing Transitions from LIBOR

Originally published by Lisa Pendergast in NAIOP's Fall 2020 Issue.

SOFR, the new U.S. dollar replacement rate, differs in crucial ways from its longstanding forerunner.

The London interbank offered rate, or LIBOR, is a critically important number in the world of finance. It is the basis for hundreds of trillions of dollars in contracts around the world. These include everything from complex derivatives to home mortgage loans.

According to calculations from the Federal Reserve, the estimated exposure for U.S. dollar LIBOR alone is approximately $200 trillion. Despite that large number, the underlying transactions that help determine LIBOR are a mere fraction of this amount. The rate is primarily based on submissions by certain banks based on what they estimate they would be charged to borrow from one another.

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NAIOP Charlotte Board Nominations | Annual Meeting

2020 Annual Meeting

December 15 | 12:00 PM – 1:00 PM EST

Wrap up an unforgettable 2020 with NAIOP Charlotte! This year’s virtual Annual Meeting will feature a panel of industry leaders providing market updates and overviews on commercial real estate in Charlotte. How are we ending the year? What is 2021 shaping up to look like? Come celebrate during this unusual year, elect the 2021 NAIOP Charlotte Board (slate is below), and connect with friends and colleagues!

Our Panelists

 

Board Nominations

Below is the Nominating Committee's recommendation
for the 2021 Board of Directors.
Executive Committee

President: Pat Pierce, Selwyn Properties
President-Elect: Welch Liles,
Asana Partners
Secretary: Alyson Craig,
City of Charlotte

Treasurer: Steve McClure, The Spectrum Companies
Immediate Past President: Scott Harris, Choate Construction
Past President: Tracy Dodson,
City of Charlotte
Directors (two-year terms)

Paxton Hollar, SunCap Property Group (1-year term)
Brian Kreefer, The Keith Corporation (renewing)
Phil Kuttner, LITTLE
Bobbie Jo Lazarus, Elliott Davis
Dan Melvin, LandDesign
Mary Katherine Stukes, Moore & Van Allen
Directors (remaining on the Board)

Rad Hudson, Metromont
Ken Jonmaire, Crescent Communities
Pete Kidwell, Beacon Partners
Mike Kramer, Bank of America
Non-Voting Liaisons

National Board Liaison: Pat Pierce, Selwyn Properties
REBIC Liaison: Madeline Keeter, REBIC
UNCC Liaison: Dr. Yongqiang Chu, UNC Charlotte Childress Klein Center for Real Estate

Registration

Registration for members will be free and $15 for non-members through December 7. Beginning December 8, the registration fee will increase to $10 for members and $20 for non-members. Prior registration is required. Zoom details will be sent two (2) hours prior to the event.
Register Here

 

Questions

If you have questions, please contact the NAIOP Charlotte office at [email protected].

Biden and Commercial Real Estate: 4 Intersections to Watch

Originally published on November 9, 2020, by Tom Acitelli for the Commercial Observer.

The incoming Biden administration‘s decisions on a range of issues could impact the commercial real estate market and industry directly. Here are the four areas to watch as the former vice president transitions to the presidency this winter.

The pandemic

The coronavirus pandemic is by far the biggest challenge that commercial real estate faces. The virus has emptied offices and hotelscaused a spike in loan delinquencies and a drop in real estate investment trusts’ stock performancestanked leasing and sales; and banged perhaps the loudest death knell yet for brick-and-mortar retail. Until the coronavirus is under control, industry analysts, owners and brokers say a return to (a new) normalcy in the market and the industry is out of the question.

President-elect Biden is vowing a much more direct federal attack on the virus. President Trump in the closing days of his campaign said repeatedly that the nation was “rounding the turn” on the pandemic. The country has instead recorded more than 90,000 new coronavirus cases a day since Nov. 4, the highest figures of the pandemic.

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NAIOP study examines how retail, office buildings will become part of the 'last mile'

Originally published by Marc Stiles on November 5, 2020, for Puget Sound Business Journal 

The tech-fueled evolution of industrial real estate is creating opportunities for underused assets, large and small. The possibilities seem almost endless.

 

Read More.

Stay Current on CRE Salaries, Bonuses and Benefits

Originally published on November 17, 2020 in NAIOP's E-Newsletter.

The new 2020 NAIOP/CEL Commercial Real Estate Compensation and Benefits Reports are now available for purchase online. Each includes salary, bonus, incentives, and benefits for up to 200 positions, and data from 100,000 distinct jobs in the office/industrial, retail and residential property sectors. Data is sortable by company size, type, specialization and more.

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Analyzing the Current and Future Impacts of COVID-19 on CRE

Originally published on November 16, 2020, by Linda Strowbridge for NAIOP's Blog

In “Midyear Economic Impacts of COVID-19 on the U.S. Commercial Real Estate Development,” commissioned by the NAIOP Research Foundation, Stephen S. Fuller, Ph.D., professor emeritus at George Mason University’s Schar School of Policy and Government, detailed changes in different commercial real estate sectors and described how CRE could drive the recovery of the U.S. economy.

We asked him for further insights on what the government could do to facilitate growth in commercial real estate and what factors could influence the pace and strength of the recovery of the U.S. economy. 

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Listen On-demand Legislative and Political Update Webinar

Originally recorded on November 11, 2020 for NAIOP Center for Education.

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

On November 11th, this webinar provided members with an update on federal legislative activity and executive agency actions affecting the commercial real estate industry, with a specific focus on NAIOP’s top public policy and legislative priorities. Aquiles Suarez, NAIOP’s senior vice president for government affairs, and Alex Ford, NAIOP director of federal affairs, will discuss issues including tax legislation, infrastructure, environmental issues, and federal regulatory matters.  Attendees can pose questions regarding federal issues affecting their business and gain insights to prepare them for any future regulatory or legislative challenges.

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[Video] Meet 2020 Developer of the Year: Kilroy Realty Corporation

Originally published on October 12, 2020 in NAIOP News.

 

 

The Developer of the Year is NAIOP’s highest honor and is given annually to a developer that best exemplifies leadership and innovation in the commercial real estate industry. The 2020 recipient is Kilroy Realty Corporation.

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Support NAIOP and CRE in Charlotte

2021 Sponsorship Opportunities Available!

The Cornerstone Sponsorship program was created to support and enrich our chapter, while offering professionals and organizations an opportunity to participate in, and get more out of, our chapter activities and services.

The program is an excellent way to gain visibility while supporting the commercial real estate development industry in Charlotte. Sponsors are allowed to customize benefits based on the exposure you desire. Learn more or commit today by clicking on the button below.

2021 Sponsorship Opportunities

 

Questions
If you have questions, please contact the NAIOP Charlotte office at [email protected].

Keep Your Salary and Bonus Package Competitive

Originally published on November 10, 2020, by NAIOP Source Weekly E-News.

Is your 2021 salary and bonus package competitive? Find out with the 2020 NAIOP/CEL Commercial Real Estate Compensation and Benefits Reports.

These valuable reports enable commercial real estate businesses to stay current on salaries, bonuses, and benefits for CRE professionals from executives to entry-level positions.

The reports include:

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There's Opportunity at the Office Park

Originally published in NAIOP's Development Magazine Fall 2020 Issue by Ray Kimsey. 

COVID-19 could spur greater interest in transforming suburban office parks into mixed-use developments.

Suburban office parks were already experiencing a renaissance in the years leading up to the COVID-19 pandemic. A combination of rising commercial and residential rental rates in urban core areas and the desire of millennial workers to reduce their commutes had led real estate developers to transform older office parks into competitive properties by offering the right mix of uses and amenities.

The pandemic, which may have effectively reset corporate America’s work/life balance equation, has given new impetus to this strategy. Nearly a third of Americans are considering moving to less densely populated areas in the wake of the pandemic, according to recent data from a Harris Poll conducted among 2,050 U.S. adults from April 25-27. This could significantly impact the attitudes of both office tenants and residential buyers regarding location and amenities. It would also be happening as futurists predict a “new normal” following the pandemic where remote working could become more accepted. In addition, even when restrictions are lifted, there will be an emphasis on outdoor amenities that support social distancing. 

As commercial real estate leaders plan for the future, many are evaluating changing user preferences and are looking for creative solutions to meet the needs of changing demographic preferences. Here are some insights into reimagining aging office parks by realigning space and tenant engagement strategies through the introduction of residential and mixed-use elements.

Click Here to Read More

Apply Now for the Inclusion in CRE Scholarship

Originally published on November 10, 2020 by NAIOP Source Weekly E-News.

NAIOP and Prologis continue their partnership to provide a program scholarship to up to 20 individuals, helping prepare a pipeline of women and minorities for development and operations positions in commercial real estate.

Women or other underrepresented minorities who are demonstrating leadership and responsibility in the CRE profession are invited to apply for this program that will advance your industry knowledge and connect you with leaders across North America.

Applications for the scholarship are accepted online. The deadline to apply is December 28, 2020.

Click Here to Learn More

Big Change for Development with the 2040 Plan: Learn More!

Join NAIOP Charlotte on Monday, November 16th at 12:00 PM EDT for our next Lunch with a Leader. The 2040 Comprehensive Plan and the Unified Development Ordinance(UDO) is a critical policy for the way commercial real estate develops in the future. Get exclusive insights into the 2040 Plan and UDO during this webinar and learn how it will impact commercial real estate developments moving forward.

Our Leader

Alyson CraigAlyson Craig
Deputy Planning Director
City of Charlotte
Alyson Craig is the Deputy Planning Director for the City of Charlotte’s Planning, Design, and Development Department. She provides oversight to two of the Department’s divisions, Land Development and Entitlement Services (Rezoning/UDO), our HR and budget operations, and serves as a backup to the Planning Director. Learn more.


Registration
This event is offered to NAIOP Charlotte members only at no charge. Prior registration is required. Zoom login information will be sent two (2) hours prior to the event.

Click Here to Register

Resources
View the draft Charlotte Future 2040 Comprehensive Plan HERE.
View the Tree Canopy Action Plan HERE.
View information about the Unified Development Ordinance (UDO) HERE.
Provide feedback to REBIC for representation HERE.
Provide feedback directly to the City on the plan HERE.