Filtered by author: Theresa Salmen Clear Filter

Retail is Alive and Well. It Just Looks Different.

Posted on November 14, 2019

By Trey Barrineau

Retail apocalypse? What retail apocalypse?

Yes, there have been significant changes in the retail space in recent years, said Amy Sands, managing director with JLL during “The Latest Trends in Retail,” a panel discussion at CRE.Converge 2019 in Los Angeles. However, she said “apocalypse” is an overblown term for what might properly be called “an experiential revolution.”

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Despite a Cannabis Boom, Real Estate and Banking Challenges Remain

Posted on November 13, 2019

By Jonathan Havens and Anamika Roy

Conflicting local and federal laws, along with NIMBYism, could be slowing investment in marijuana-related facilities.

At last count, 33 states have authorized cannabis for medical use, with 11 also permitting recreational use. Recent public opinion surveys suggest historically high support for continued and expanded cannabis access. For example, a March 2019 Quinnipiac University poll found that American voters believe, almost two to one, that “the use of [all] marijuana should be made legal in the U.S.” Support for medical access comes in even higher, at more than 18 to one, if a doctor recommends it.

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Webinar Nov. 19: Legislative and Political Update

Posted on November 12, 2019

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

This webinar will provide 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 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.

Register Now

Charlotte Sign & Tree Ordinance Updates Approved

Posted on October 29, 2019

On October 21 Charlotte City Council voted to approve updates to the sign and tree ordinances. Most importantly, the updated tree ordinance allows for more flexibility for developers on urban sites in the City, which is less than 5% of Charlotte’s total developable land.

REBIC sent a letter to the Council urging their support, and we would like to thank those who voted in the affirmative: Mayor Pro Tem Julie Eiselt, Councilman Braxton Winston, Councilman James Mitchell, Councilman Larken Egleston, Councilman Greg Phipps, Councilwoman LaWana Mayfield, Councilman Justin Harlow, Councilman Tariq Bokhari and Councilman Ed Driggs. We would also like to thank Mayor Vi Lyles for her leadership and ability to support council through contentious discussions in a judicious manner.

Thank you to our members who personally reached out to Council Members as well!

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Surveys Provide Opportunity to Give Feedback to Planning Staff

Posted on October 25, 2019

City of Charlotte Development Center Customer

The City of Charlotte Development Center is committed to continuous improvement in order to be the best partner with our customers to efficiently, effectively and collaboratively build a safe and thriving community.

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www.surveygizmo.com

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2020 NAIOP Charlotte Cornerstone Sponsorships are Available!

The Cornerstone Sponsorship program offers professionals and organizations an opportunity to participate in, and get more out of, our chapter activities and services. The Cornerstone Sponsorship program is an excellent way to gain visibility while supporting the commercial real estate industry in Charlotte. 

Cornerstone Sponsors are allowed to customize your benefits based on the exposure you desire.

Learn More or Commit Today

Tree Ordinance Text Amendment Passes

Posted on October 22, 2019

Last night (10/21) Charlotte City Council voted to approve updates to the sign and tree ordinances. NAIOP Charlotte supported the proposed text amendments to the Tree Ordinance below:

On behalf of the hundreds of commercial real estate developers and industry service providers represented by NAIOP Charlotte, we request your support of the proposed amendment to the City’s Tree Ordinance Amendment at the City Council business meeting on Monday, October 21st.

Petition #2019‐104 seeks to codify flexibility, better integrate trees into urban sites, and will result in no net loss of ordinance required trees. It incentivizes urban development and redevelopment to plant trees on site, compared with the current practice of payment in lieu which pushes our canopy out of urban areas where benefits from sustainable practices can be leveraged. It places trees in areas where people want to congregate, socialize, and enjoy open space. Current requirements are restrictive of where trees can be located. 

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Making Multistory Industrial Work

Posted on October 10, 2019

By Kathryn Hamilton

E-commerce is driving growth in neighborhoods where malls used to stand tall, and multistory is the name of the game in industrial development today. In Brooklyn, an 18-acre site in the Red Hook district will be the future home to a four-story, 1.3-million-square-foot distribution center – the largest multistory warehouse in the U.S. It’s groundbreaking in its scope and design, but not without its own issues. So what are the challenges with multistory and how can developers make it work? A panel at NAIOP’s I.CON East 2019 sought to answer the tough questions.

Leslie Lanne, managing director with JLL, said the primary driver behind multistory is getting as close as possible to the consumer base. This proximity is more than just mileage – it’s the time it takes to get the goods to the consumer. For example, a warehouse in New Jersey is located only five miles from Brooklyn, but it can be tough to achieve a trip from the warehouse to consumers and back in less than two hours.

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Welcome New NAIOP Charlotte Members

Posted on October 8, 2019

We are proud to introduce our new association members! The following is a list of individuals who have joined NAIOP Charlotte since April 22, 2019:

  • Blake Bickmore, Crescent Communities LLC
  • Nathaniel Buhler, Cambridge Properties, Inc.
  • John Core, Beacon Partners
  • Dave Dabson, Beacon Partners
  • Thomas Efthimiades, Childress Klein
  • Chad Frye, Graycor Construction
  • Madelyn Furr, ECS Southeast, LLP
  • Andrew Geuss, Builtech Services, LLC
  • Paxton Hollar, SunCap Property Group
  • Greg Icenhour, Mid-Atlantic Associates, Inc.
  • Robert Jeffway, The Fallon Company
  • William Joslin, McMillan Pazdan Smith Architecture
  • Corey Knuckles, LaBella Associates P.C.
  • Dan Mainous, BB&T
  • Derek Mathis, SunCap Property Group
  • Christopher McCain, Entinu Communications LLC
  • Chris Morgan, Walbridge
  • Rob Nanfelt, REBIC
  • Grant Oldenburg, UNC Charlotte Real Estate Club
  • Ross Pope, KDC Real Estate Development & Investments
  • Kenny Sommerkamp, Metrolina Builders
  • Seth Spears, Batson-Cook Construction
  • Madison Stewart, Builtech Services, LLC
  • Evan Synstad, Gilbane Building Company
  • Heidi Team, Batson-Cook Construction
  • David Truesdale, Choate Construction Company
  • Mike Tulini, Encompass Building Group
  • Tony Wilk, Builtech Services, LLC
  • Matt Williams, Metrolina Builders
  • Edward Wolynec, Clarion Partners
  • Kate Zawacki, Grandbridge Real Estate Capital, LLC

New Report: The Evolution of Suburban Office Parks

Posted on October 7, 2019

The NAIOP Research Foundation has published a new report titled "Profiles in the Evolution of Suburban Office Parks," by Dustin C. Read, Ph.D./J.D.

The author interviewed five developers who have recently updated suburban office parks in the United States and Canada to learn how they made these properties relevant for today's market.

Key Takeaways:

  • Redeveloped office parks must fit the preferences of the local workforce and the needs of local employers.
  • Developers should seek to understand local officials' priorities.
  • Developers should build flexibility into their plans and partner with creditors who understand that they may need to adapt to unforeseen circumstances.
  • Developers can maximize the value of their improvements by leveraging design, technology and amenities to develop a property's identity and build community.
  • Rebranding is often a critical component of a successful redevelopment strategy.
 Read the Report.

TONIGHT: CLT Development Center Brainstorming Session – The Customer Experience

Posted on October 4, 2019

Friday, October 4th

1:00 - 2:30 p.m.

CMGC 8th Floor - Planning Innovation Center

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Solving the Construction Worker Shortage Puzzle

Posted on October 1, 2019

By Shawn Moura

In recent years, builders have faced a shortage of workers that has only grown more acute amid increasing demand for construction and record-low unemployment. Many of the 2.2 million construction workers who lost their jobs during the last recession either retired or found employment in other industries. At the same time, fewer new workers are taking their place because millennials are less attracted to careers in construction than past generations. Workers under the age of 25 make up only 9.0% of the construction workforce in the United States versus 12.3% of the nation’s overall workforce, according to data from the Bureau of Labor Statistics.

A report published by the NAIOP Research Foundation in July , “Addressing the Workforce Skills Gap in Construction and CRE-related Trades,” examines how employers are partnering with local communities in innovative training and recruitment programs to boost the supply of skilled construction workers in both urban and rural areas.

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Profiles in the Evolution of Suburban Office Parks

Posted on September 22, 2019

By Dustin Read

The NAIOP Research Foundation has published a new report titled "Profiles in the Evolution of Suburban Office Parks," by Dustin C. Read, Ph.D./J.D.

The author interviewed five developers who have recently updated suburban office parks in the United States and Canada to learn how they made these properties relevant for today's market.

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REBIC BBQ & Candidate Meet & Greet Recap

REBIC held their annual BBQ & Candidate Meet & Greet on August 28. More than 22 candidates and 130 people were in attendance. NAIOP Charlotte sponsored this event.

REBIC Primary Election Voter Guide is Now Available

Service Resiliency is Make-or-break for Today's Tenants

Posted on August 22, 2019

By Linda Strowbridge

Strategically parked over a manhole on a downtown Manhattan street, John Meko spent months working inside a 20-foot storage trailer and learning about resiliency the hard way.

Meko was wrestling with the immediate aftermath of Hurricane Sandy in 2012. His employer at the time was an internet service provider (ISP) that supported about 200 office buildings in New York City, primarily in the Financial District. The massive storm and flooding had destroyed electrical and internet infrastructure throughout large sections of the city, and businesses were desperate to regain service so they could resume their operations.

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Parking Perplexities Facing Developers

Posted on August 21, 2019

By Mark L. Elliott, David C. Kirk and Jenna E. Lee

Shared parking paired with technology offers solutions for changes in building usage.

Providing parking for commercial properties has always been a challenge for developers, but it’s even more so today. Why?

First, no one really knows where parking needs and requirements are heading, especially for commercial office space. On one hand, there is the densification of work space, which has seen the square footage per employee decrease. According to research from Cushman & Wakefield, the national average in 2018 was 194 square feet per employee, which is down 8.3 percent from 2009. That suggests more parking is needed for office users and their buildings, which now have more people working in the same amount of space.

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Industrial Demand Forecast Decreases as Economy Slows

Posted on August 19, 2019

By Dr. Hany Guirguis and Dr. Joshua Harris

The NAIOP Research Foundation has published the NAIOP Industrial Space Demand Forecast for Q3 2019.

Key Takeaways

  • The forecast for net industrial space demand has decreased amid slower growth in the U.S. economy. Absorption is now expected to average 37 million square feet per quarter for the next two years. This is a significant slowdown from the average 60 million square feet of quarterly net absorption experienced during 2017 and 2018.  
  • The average quarterly completions fell to 42 million square feet in the first half of 2019, down from an average of 54 million square feet per quarter during 2017 and 2018. Supply and demand are likely to stay in balance for the industrial sector; therefore, rents and vacancy rates should remain stable in many markets nationwide. 
  • A recession is not likely in the near term, but a general slowdown appears already underway; the first report of GDP growth in the second quarter fell to 2.1% from the 3.1% annualized result of the first quarter.
View the Forecast

Opportunity Zones Investment Strategies Take Hold

Posted on August 14, 2019

By Rich Tucker

In an era of divided government and even more divided politics, there are still public policies that can unite the left and right. One is opportunity zones.

Opportunity zones (OZs) – defined by the IRS as economically-distressed communities where new investments, under certain conditions, may be eligible for preferential tax treatment – were added to the tax code by the Tax Cuts and Jobs Act of 2017.

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Real Estate Industry Legislative Priorities Continue to Advance in Raleigh

Posted on August 13, 2019

Despite the ongoing stalemate over the state budget, legislation supported by the real estate and home building industry continues to make progress in Raleigh. Over the past few weeks, Governor Cooper has signed into law a variety of bills supported by the North Carolina Home Builders Association (NCHBA), the North Carolina Realtors®, NAIOP North Carolina, and other trade groups. Here’s a summary of some of the key laws that will benefit the residential and commercial real estate industries in the years ahead:

  • HB 675 — 2019 Building Code Regulatory Reform, sponsored by Representatives Mark Brody (R-Union), Dennis Riddell (R-Alamance), Jon Hardister (R-Guilford), and Billy Richardson (D-Cumberland). This is the fifth successful bill over the past several sessions of major reforms to the state building code and inspections process Key provisions in this year’s act include:
    • Prohibits local governments from requiring developers/builders to bury existing power lines or bury relocated power lines that are located outside the subdivision.
    • Prohibits local governments from setting minimum square footage requirements for residential structures.
    • Requires the North Carolina Building Code Council to conduct a cost/benefit analysis for all proposed changes to the North Carolina Energy Conservation Code since January 1, 2018.
    • Requires the North Carolina Building Code Council to create an inspection form to be used by engineers and architects and clarifies that they can inspect foundations and underslabs.
    • Adds a new level of inspector, residential changeout inspector, to assist with minor inspections.
    • Requires that a local government chooses to have plan review that the initial review for residential building plans must be performed within fifteen (15) business days after submission.
    • Requires that a local government can issue a temporary certificate of occupancy if the requirements of the NC Building Code are met.
  • HB 492 — Simplify Builder Inventory Exclusion, sponsored by Representatives Mark Brody (R-Union), Julia Howard (R-Davie), and Brian Turner (D-Buncombe), will eliminate the need for a builder to file annually in order to take advantage of an important property tax exclusion.The new law permits a builder to file a one-time application to claim an exemption from higher property taxes on land and houses held for sale by a builder to the extent that the tax increase is attributable to subdivision of the property or improvements made such as the installation of infrastructure or the construction of a single-family or duplex house on the property.
  • HB 620 — Street Database/Manual/Public Record Exemption, requires the North Carolina Department of Transportation to create a “Public Street Information Database”, by 01/10/20 and update it regularly, for the purpose of conveying the status of roads within the State. This publicly-available database will indicate whether the road is (1) federally owned, (2) State-owned with State road number assigned, or (3) State-maintained with a State road number assigned.
  • SB 355 — Land-Use Regulatory Changes, sponsored by Senators Dan Bishop (R-Mecklenburg), Paul Newton (R-Cabarrus) and Sam Searcy (D-Wake), helps level the playing field between landowners and local governments by integrating permit choice and vesting laws to ensure that the rules are not changed in the middle of a development project. In addition, the law:
    • Protects landowners against 3rd party rezoning efforts
    • Allows certain claims to bypass the Board of Adjustment and proceed to Superior Court.
    • Places limits on conditional zoning abuse, while preserving flexibility for developers.
  • SB 523 — Revenue Laws Clarifying & Administrative Changes, requires Property Management companies to charge and remit RMI sales tax only in the following circumstances:
    1. They provide repair, maintenance, installation services for an additional charge above what is stated in the management contract.
    2. They arrange for a third party to provide the repair, maintenance, and installation services and impose an additional charge for arranging these services.
    3. More than twenty-five percent (25%) of the time spent managing an individual real property during a billing or invoice period is attributable to taxable repair, maintenance, and installation services. The property manager can voluntarily provide a written affidavit to attest that no more than 25% of their services on a given property constitute taxable RMI services, which would clear them of liability for taxation on any portion of the contract amount.

Source: NCHBA & NC Realtors®