Originally published on May 18, 2020 by Elizabeth Brink and Arnold Levin
At Gensler, we’ve been thinking hard about how to help our clients through these extraordinary times. As we’ve adjusted to the strange reality of the global work-from-home experiment, our clients have begun to ask what the future of work holds post-pandemic.
Originally published on May 13, 2020 by Stephanie Friese, Christine Norstadt and Jennifer Garner for the National Real Estate Investor
The jury is still out for May income as landlords and property managers are still assessing the impact from their tenants’ payments. Office, industrial, and multifamily landlords will likely receive most, albeit with some shortfall, of rents because tenants in these sectors have not been affected as much as in the retail sector, where we are hearing reports that as many as 40-50 percent of retail tenants will not re-open.
Originally published on May 14, 2020 by Daniel Levison.
In this crazy pandemic world, do you feel comfortable that your business is operating efficiently? If not, and most of us don’t, the question we should ask ourselves is: How do we prepare our business to operate at maximum efficiency when another catastrophic event occurs or our economy is shut down again due to a shelter in place order?
Last Friday, the House of Representatives passed by a vote of 208-199 a Democratic-backed coronavirus economic recovery bill, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act. House Democratic leadership drafted the legislation without Republican input and unveiled it earlier in the week, leading Republican leadership to dismiss it as a partisan exercise.
While the HEROES Act will not be taken up by the Senate, the bill serves as an important opening salvo by House Speaker Nancy Pelosi as negotiations continue between the House, Senate and the Trump administration on a “Phase IV” economic stimulus bill.
Originally published by Phil Jelsma for Commerical Property Executive
The coronavirus outbreak has prompted multiple deadline extensions by the Internal Revenue Service, many of which have major implications for commercial real estate investors.
House Speaker Nancy Pelosi and top Democratic leaders are working on a bill that could spend as much as $2 trillion more on coronavirus relief. A significant portion of that will be directed toward states and local governments, which are suffering a loss of tax revenues because of ongoing shutdowns.
Other priorities include an expansion of unemployment insurance and additional funding for the U.S. Postal Service. The bill could also include spending on infrastructure.
Originally published on March 2020 by Maria Sicola, Charles Warren, Ph.D., and Megan Weiner, CityStream Solutions, LLC.
Professionals commonly analyze and compare individual U.S. commercial real estate markets by dividing them into ranked tiers based on their investment potential or growth characteristics. Although the methodologies they use to create these rankings are broadly similar from one report to the next, each is slightly different. As a result, cities are ranked differently in different reports. This can sometimes lead to confusion as industry participants sort out which markets are the best candidates for new investment. Adding to the potential for confusion, different analysts use different terms (e.g., “Tier 1,” “Primary,” “24-hour,” “Gateway”) to describe which markets they think are the top markets in the industry.
The CLT Development Center continues to maintain plan review, permitting, and field inspections as allowed by the stay-at-home order. For the last weeks, we continue to make modifications to the ways we deliver services to protect customers, staff, and the community.
Requests and scheduling for virtual meetings for urban and commercial pre-submittals continue to be offered. Please contact Nan Peterson, Business Relation Manager, [email protected], or 980-264-9580 with questions or inquiries.
The COVID-19 pandemic is changing many aspects of how we live, move about our cities, and get essential physical activity. The City of Charlotte is launching Charlotte Shared Streets to support social distancing and pedestrian/bicycle safety amidst this new way of life. Shared Streets is intended to support outdoor exercise; create a safer environment for people walking, wheelchair rolling, biking, skateboarding, and rollerblading; and promote physical distancing of at least 6 feet by identifying low-speed neighborhood streets as “Shared Streets.”
Shared Streets are streets that are temporarily designated and signed as streets for walking, wheelchair rolling, biking, skateboarding, and rollerblading. Through traffic will not be permitted, but emergency vehicles, delivery vehicles, and residents who live on those streets will still be able to access the roads by motor vehicle. Residents should understand that the SHARED streets do not present an opportunity for residents to congregate and that they should continue following social distancing guidelines. Shared Streets are meant to foster solo physical activity and to connect people to destinations. This is a time to bring out the longboard, not the hammock.
Originally published on May 5, 2020 by Rich Tucker
At the beginning of the year, nobody predicted the economic slowdown caused by the coronavirus pandemic. On March 1, the economy seemed to be thriving with record-low unemployment and a booming stock market. Two months later, the economy is in a deep freeze, and everyone wonders how quickly, and how thoroughly, it can thaw out.
Originally published in the Spring 2020 Issue by Trey Barrineau
In October 2019, Amazon announced that it will begin offering free two-hour grocery delivery to Amazon Prime members. The move could have a dramatic impact on demand for cold storage facilities, which were already poised for strong growth amid changing consumer preferences.
NAIOP is proud to honor up-and-coming commercial real estate professionals, 35 years of age and under, for their valued contributions and commitment to the industry with the annual Developing Leaders Award. The award is presented to those who have shown exemplary achievements and demonstrated outstanding professional accomplishments in the commercial real estate industry.
Nominations are now being accepted for the 2020 NAIOP Developing Leaders Award.
Deadline: June 26, 2020
Last week, the White House issued an outline containing a three-phase approach for states to follow as they move to restart activities following the coronavirus pandemic. Before a state moves forward, the administration said it should be seeing a downward trajectory of influenza-like illnesses and COVID-like syndromic cases reported over two weeks.
As states reopen, the plan recommends they have plans to:
Grab your lunch and join this Lunch with a Leader virtually. During this webinar, hear an update on economic development for our region. Learn about how the CLT Alliance is working to keep interest in our region for future commercial development. You are invited to submit questions in advance here.
A seasoned regional economic development leader with strong communications, strategy and operations skills, LaBar was selected to lead the Charlotte Regional Business Alliance following a four-month national search.Originally published on April 28, 2020 by Mecklenburg County
Mecklenburg County, the City of Charlotte and the six county towns, have agreed to follow the State of North Carolina's Stay at Home Order starting April 30.
Mecklenburg County Manager Dena R. Diorio announced the agreement to the Board of County Commissioners at its public policy meeting Tuesday afternoon, one day before the county's current order was set to expire.
"The unified coalition of the County, the City, and the towns that began working together when this crisis started will stay together," said Diorio. "We have agreed to proceed like the rest of the state as the phased reopening proceeds."
Mecklenburg's Stay at Home Order began March 26 and is more restrictive than the state order regarding certain businesses—including car dealerships, landscaping services, real estate brokerage, and other businesses not considered essential.
Originally published in April 2020 by Marcus & Millichap
Section 1031 of the Internal Revenue Code enables real estate investors to defer capital gains on income-producing property when those gains are used to acquire a like-kind investment. Colloquially, a 1031 exchange is the transaction in which an investment property is liquidated and the proceeds from the sale, including capital gains, are used to acquire additional income-producing property or properties. For the exchange to meet IRS standards, buyers have 45 days from the initial sale to identify a replacement property of equal or greater value and 180 days to acquire that asset.
Originally published on April 14, 2020 by Marc Rapport for MillionAcres.com
The coronavirus pandemic has wreaked havoc on Americans' health and on their businesses. April 1 marked the first major due date for rent for millions of enterprises large and small, and reports from around the nation show that many simply couldn't make do.
The House and Senate aren’t scheduled to reconvene until early May; however, lawmakers are negotiating at a distance to reach an agreement to provide more funding for the Paycheck Protection Program (PPP).
Their tentative deal would invest another $310 billion into the program, with $60 billion allocated specifically for rural and minority groups and $60 billion for the Economic Injury Disaster Loan program. The agreement would also add $75 billion for hospitals and $25 billion for testing, for a total of $470 billion in additional spending.
PPP is a loan program ran through the Small Business Administration. It ran through its initial $349 billion last week after just two weeks of making loans. NAIOP and its allies in the real estate community-supported PPP and the law that created it, the $2.3 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted last month to help the economy survive the coronavirus shutdown.
A Forums favorite is back: Economist Mark Dotzour, Ph.D., will talk exclusively with the National Forums to illustrate how the CRE industry and global economies will emerge from the pandemic. Dotzour sees today’s environment as a blend of national unity from the age of World War II, the immediate lifestyle changes that followed 9/11, and the financial catastrophe of 2008. He’ll take on the big topics on everyone’s mind: Will this be another jobless recovery? Are the stimulus packages enough? Where are interest and cap rates headed? And what does all of it mean for commercial real estate?
Submit your questions early and login to the call ready to take a journey as Dotzour synthesizes global, social and economic trends and provides you a tool kit of factual information to help you make sound investment and business decisions moving forward.
Even with no in-person events on your schedule, you can continue to build professional relationships right now – you may just need to think creatively during this unusual time.
In a recent NAIOP Advantage Series webinar, networking strategist Lori Saitz, CEO and founder of Zen Rabbit, shared ideas for making meaningful professional connections, whether you are looking to touch base with people you’ve met in the past or would like to expand your network to reach new customers.
