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How Technology Will Change the Brokerage Business

Posted on January 16, 2019

Written by Joan Woodard

Commercial real estate is in the midst of a digital revolution, and some of the biggest upheavals will affect professionals who work closely with property owners and tenants.

Technological innovation is accelerating in the commercial real estate space, and it has the potential to disrupt a large segment of the brokerage business.

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Charlotte Sets Public Hearing Date for New TOD Ordinance

Posted on January 15, 2019

The City of Charlotte has set a February 25th Public Hearing date for a new Transit-Oriented Development (TOD) Zoning Ordinance, despite a key Building Height Bonus provision still undergoing revision.

REBIC and other industry groups have worked with City staff on the draft for more than a year, as part of a comprehensive stakeholder review process that has seen a number of restrictive provisions pared down or eliminated. But the Building Height Bonus provision, intended to encourage the construction of Affordable Housing units along transit corridors, was only unveiled on December 13th, and has yet to be modeled for effectiveness.

The Height Bonus, which is designed to advance City policy priorities such as affordable housing, open space preservation and sustainability, will give developers the opportunity to amass points that can be used to increase their building height. It would allow buildings to rise as high as 300′ in the highest-density TOD district when the maximum amount of points are obtained. Developers would also be able to increase their building height by paying a fee-in-lieu that that would go into the city’s Housing Trust Fund.

Click here to read more.

New State Law Exempts Charlotte Redevelopment Projects from Stormwater Controls

State legislation passed last month at the conclusion of the 2018 session of the General Assembly means redevelopment sites in Charlotte are no longer required to include on-site stormwater controls if no additional impervious surface is created. A provision in SB 469, a Technical Corrections bill initially vetoed by Governor Cooper but ratified through a legislative override, specifically mandates the change to local stormwater ordinances, regardless of where a local government obtains its regulatory authority.

While a redevelopment exemption for stormwater has been state law for years, the City of Charlotte has previously required controls on all projects, citing its adherence to a federal NPDES stormwater permit that called for higher local standards. REBIC has long argued that stormwater controls should not be required on redevelopments where no additional impervious surface is created.

The provision in SB 469 also allows development within a vegetative buffer, as long as the runoff from the entire impervious area of the project is collected, treated, and discharged through a portion of managed vegetative buffer. Of course, stormwater controls will continue to be required on sites whenever additional impervious surface is created.

Thanks are due to the North Carolina Home Builders Association (NCHBA) and State Representative Dean Arp (R-Union) for their support of this critical legislation!

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Opportunity Zones: A Panel of Perspectives

February 7, 2019 - 6:00 PM to 8:00 PM
UNC Charlotte Center City 320 E 9th St, Charlotte, NC 28202

The Childress Klein Center for Real Estate and the Turner School of Accountancy invite you to an evening of networking and a vibrant panel discussion in Uptown Charlotte. The Panel will discuss how Opportunity Zones, as codified in the 2017 Tax Cuts and Jobs Act, can work towards our regions economic development goals. There will be a short networking reception following the panel discussion. 

Register today!

Event Schedule: 

  • 6:00-6:30 pm: Check-In and Networking 
  • 6:30-7:30 pm: Panel Discussion
  • 7:30-8:00 pm: Networking Reception
View Panelists Here

CREW Charlotte's 13th Annual Casino and Gaming Night is on Feb. 20

February 20, 2019 5:30 p.m. - 9:30 p.m.
Byron's South End
101 W Worthington Avenue
Charlotte, NC 28203

Join CREW Charlotte for a fun-filled night of networking with the most influential real estate professionals in the Charlotte area! Come play your favorite games at CREW's 13th Annual Casino and Gaming Night.  They'll have casino gamesas well as interactive games such as skee ball, pop-a-shot, giant Jenga and more!  Interested in sponsoring a game, dessert or beverages?  Please contact Patty Drummond

Raffle tickets are available for a Pigeon Forge Mountain Cabin ($10 per ticket, 5 for $40). For more information on the cabin, please click here. 

Casino Night Ticket (CREW Member) - $100 per person.


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NAIOP Elects 2019 Board of Directors and Recognizes the Award of Excellence Winner at 2018 Annual Meeting

Posted on January 4, 2019

NAIOP Charlotte, the Commercial Real Estate Development Association, held its annual meeting on Tuesday, December 18, 2018 at the Charlotte City Club, where they elected the 2019 Board of Directors and announced the winner of their Award of Excellence. This award recognizes an individual who positively influences our community and industry. ­­­­Attendees also heard from Tracy Dodson, Ned Curran, and Jesse Cureton on the changing front of economic development.

Click here to view photos from the event.

2019 Board of Directors

President – Tracy Dodson, City of Charlotte
President Elect - Scott Harris, Choate Construction
Secretary – Nate Doolittle, LandDesign
Treasurer - Alyson Craig, City of Charlotte
Immediate Past President – Cheryl Steele, Horack Talley
Past President – Brendan Pierce, The Keith Corporation

*For a full list of the 2019 NAIOP Board of Directors, visit our website at http://www.naiopclt.org/board-of-directors




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The Positive Impacts of Big Data on the Supply Chain

Posted on December 19, 2018

As companies collect and analyze more data, supply chains and warehouses operations will most likely be improved, trending towards transparency and efficiency. JLL identified six likely benefits of big data across the supply chain:

  • Enhancing predictions and planning: What do customers want and when? Being able to predict the demand of shoppers can make supply chains and warehousing more proactive. Greater use of consumer spending data through algorithms should make supply chains more nimble and reactive.
  • Keeping a closer eye on goods: Technological advancements mean it’s now easier to track and trace products than ever before. Track and trace systems will create more certainty along the entire supply chain.
  • Getting more from distribution networks: Many businesses only review their distribution networks on an infrequent basis, often using incomplete data sets and with limited insights on developing trends. This is where big data could prove useful.
  • Delivering goods more efficiently: The growth of e-commerce has meant that more packages leave warehouses than enter them; one box of gadgets from a wholesaler could go on to 10 or more separate addresses. Being able to improve scheduling and routing of deliveries is a potential cost cutter especially when it involves multiple drops.
  • Reducing risk from the elements: Big data can help lessen supply chain risk from external factors – such as the weather.
  • Creating smart warehouses: Another way to improve efficiency and cut costs is within the walls of the warehouse itself. More connectivity – for example through new 3D digital tools – can boost the efficiency of operations inside, as well as energy performance.

Using Big Data to Curate Personalized Experiences

Posted on December 18, 2018

By Brielle Scott

If you’re familiar with the movie Moneyball (based on a nonfiction book of the same name), you know that in the film, the Oakland Athletics general manager and assistant manager take a unique approach to building their baseball team within the constraints of their limited budget. Instead of relying on the more subjective information often used by their competitors, like the way a certain player runs or wears their uniform, the two used a sophisticated analysis of multiple empirical data sets to track players’ in-game activity and statistics to guide their decisions.

At CRE.Converge 2018 in Washington, D.C., Brookfield’s Global Head of Corporate Development/Executive Vice President Kevin Danehy likened the Athletics’ evidence-based approach to the way building owners and operators could leverage big data.

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Submit Your Application for NAIOP's National Forums

Posted on December 17, 2018

The Forums provide a unique opportunity for members to openly discuss project challenges, business opportunities and lessons-learned in a confidential and non-competitive setting. Over time, fellow members become a trusted circle of advisors.

The National Forums are an excellent way to become involved, stay in touch and develop new connections with key industry leaders.

To submit an application, create an account and apply using our online tool. Applications will be reviewed on a case-by-case basis by Forum groups as the official application deadline has passed. Notification of appointment will be emailed and followed by letter.

Click here to learn more.

Why Losing Out on Amazon's HQ2 Isn't So Bad for Cities

Posted on December 14, 2018

GOVERNING reports that Amazon’s decision to locate its second headquarters in already economically strong areas drew the ire of those who had hoped the company would choose a city that needed a boost. However, landing a large corporation isn’t the best way to improve a local economy and spur job growth. The article cites a report by the Urban Institute and the Brookings Institution that advised cities to concentrate on growing existing business and not luring outside companies. “Most job expansion and contractions come from birth and deaths of homegrown businesses or expansion or contractions of existing home-based businesses,” said Megan Randall, a coauthor of the report.

The report also cautioned that tax incentives do not play a significant role in attracting businesses. Although New York City and Virginia offered tax subsidies to Amazon, the company claimed the incentives were not the deciding factor, but rather the highly skilled and educated labor force in each of the locations. Offering generous tax incentives can be especially onerous on localities which do not have the fiscal strength of New York or Washington, D.C., and force difficult trade-offs in levels of public services. Additionally, when a city offers tax giveaways to lure a company, the government goes into the negotiation at a disadvantage because it may not have all the information about the company’s relocation criteria. In some cases, a company may choose a city it would have moved to anyway, pocketing the tax incentives even though they weren't a requirement.

Resurgence in Office Leasing Due to Breakout Economic Growth

Posted on December 13, 2018

By Dr. Hany Guirguis and Dr. Joshua Harris

The U.S. office market posted solid net absorption levels in the second and third quarters of 2018 of 18.0 million and 11.0 million square feet, respectively. This level of new leasing is likely due to higher-than-expected economic growth and the subsequent demand brought about by jobs created in the office-using sectors.

Due to third quarter 2018 U.S. GDP growth of 3.5 percent and a current unemployment rate of 3.7 percent, 2018 is expected to register nearly 13.0 million square feet of net absorption per quarter, significantly outpacing 2017 and 2016 when the quarterly figures averaged 9.5 million and 10.4 million square feet, respectively. The forecast is strongly dependent on continued annual economic growth near 3.0 percent, which seems plausible for all of 2019 and into 2020 given current data.

Click here to read more.

Designing Spaces to Create Great Experiences

Posted on December 12, 2018

By Andy Cohen

A Gensler study quantifies that the right design can result in great experiences, which in turn are great for business.

Today, the goal of every project that forward-thinking architects design is to give people positive experiences. Clients in every sector, including commercial real estate, are struggling to keep up with the dramatidec evolution of how people work, live and shop today – and those who aren’t are sacrificing business performance. To better understand – and to quantify – the link between design and delivery of a great experience, Gensler developed the Gensler Experience Index, a first-of-its-kind mixed-methods research approach to create a holistic Experience Framework for understanding experience and quantifying the effect of design on that experience.

The Gensler Experience Index is the result of a rigorous investigation that combined qualitative ethnographic research with quantitative research to identify the design factors that are most important in creating exceptionally great spaces and places. After several years, five roundtables, 60+ hours of one-on-one ethnographic observations and a survey of more than 4,000 consumers, the Gensler Experience Index  quantifies and brings greater depth to what many in the design industry already knew instinctively – that great design is an important component of great experiences.

Click here to read more.

Taxes and Spending Issues in the Lame-duck Congress

Posted on December 11, 2018

Lawmakers return to Washington, D.C., this week to continue their post-election lame-duck session. It isn’t clear exactly what issues they will deal with, but taxes and spending are major concerns.

One key issue that NAIOP continues to focus on is the need to fix some clerical errors in the 2017 tax reform bill. NAIOP is part of a group of hundreds of organizations and businesses pressing for a technical corrections law. This would require a majority in the House and at least 60 votes in the Senate, so it would need to be bipartisan. Lawmakers on both sides of the aisle have indicated they understand the need for action on at least one issue: Qualified Improvement Property.

Lawmakers also face a December 7 deadline to fully fund the federal government. They passed, and President Donald Trump signed, a partial budget in September, just before the 2019 fiscal year began. Time is of the essence when it comes to completing the spending bill, as there are only about 12 legislative days available in the lame-duck session.

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Experiential Trends Spark New Retail Success

Posted on December 10, 2018

By Richard Sarkis

Demand for retail properties has taken quite the hit in the wake of rapid e-commerce growth. Companies like Amazon continue to eat up industrial spaces, while brick-and-mortar retailers seem to lose foot traffic by the day.

As that demand has washed away, however, a sturdy foundation has emerged for real estate developers to rebuild and reinvigorate the retail industry as a whole. It has become clear that value remains in the development and reuse of retail spaces across the country.

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Resurgence in Office Leasing Due to Breakout Economic Growth

Posted on November 21, 2018

The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2018.

Key Takeaways

  • 2018 is expected to register nearly 13.0 million square feet of net absorption per quarter, significantly outpacing 2017 and 2016 when the quarterly figures averaged 9.5 million and 10.4 million square feet, respectively. 
  • The current macroeconomic expansion will most likely continue beyond next summer, which will officially make it the longest sustained economic growth period in U.S. history. 
  • However, the biggest limitation to the expansion of firms that use office space is likely to be the ability to hire qualified employees.

Regarding office space demand, the ultimate determinant of long-term growth will be how the business sector reacts to rising wages and interest rates.

View the forecast.

A Bright Outlook for Capital Markets

Posted on December 7, 2018

By Brielle Scott

Where are capital markets now, and where are we headed next?

At CRE.Converge 2018, experts engaged in a candid conversation about what they’re seeing in CRE investment, and shared their insights, strategies and predictions for the market. Moderator James Cassidy, executive managing director with Newmark Knight Frank, led the discussion.

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Dr. Richard Buttimer Appointed as a NAIOP Research Foundation Distinguished Fellow

Posted on November 20, 2018

The NAIOP Research Foundation has appointed Richard Buttimer, Director of the Childress Klein Center for Real Estate and John Crosland, Sr. Distinguished Professor at UNC Charlotte, as a Distinguished Fellow.  The Research Foundation’s Distinguished Fellows Program engages the nation’s foremost commercial real estate, economic and public policy experts.  During his participation in this esteemed program, Dr Buttimer will participate in NAIOP events and programs, as well as participate in research, presentations and industry task forces.

2018 Battle of the Bands

Posted on November 19, 2018

NAIOP Charlotte hosted its third annual Battle of the Bands on Thursday, November 1st and it was a hit! This commercial real estate fundraising event benefitted The Harvest Center. Three bands battled it out for the title of Best Band at the year’s premier networking event. Great food, drinks and music. 

Many thanks to Grievous Angels, Shelley Ruffin and Soul Revival, and Southside Watt for their outstanding performances! Congratulations to Southside Watt who took home the trophy this year!

We are appreciative of all of our partners in success – planning committee volunteers, sponsors, emcee, jury members and attendees – with your support, NAIOP Charlotte was able to donate $7,500 to The Harvest Center plus an additional $1,000 from raffles. We couldn’t have done it without all of your help.

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Competition for Talent Heats Up

Posted on November 8, 2018

By: Christopher Lee

Commercial real estate companies face big challenges in attracting and retaining exceptional professionals.

THE competition among real estate companies for talent heated up dramatically in 2017.  The “2017 NAIOP/CEL Commercial Real Estate Compensation and Benefits Report” reveals that demand for transformative leaders, next generation stars who could “lead” a division, department or practice over the next 10 to 20 years, has created a bidding war for exceptional talent.

Three Executive Positions Hardest to Fill

The three positions garnering the most attention were focused around leadership, knowledge and talent: Division/Department/Practice leader, Talent Management leader and Director of Research.

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Dueling Tax Proposals as Election Looms

Posted on November 7, 2018

President Donald Trump and Republican lawmakers are promising to pass legislation to deliver further tax relief for the middle class.

“Business will not enter into it, and this will be on top of the tax reduction that the middle class has already gotten, and we’re putting in a resolution probably this week,” Trump told reporters in the Oval Office last week.

Lawmakers are out of session until after Election Day, Nov. 6. Rep. Kevin Brady, chair of the Ways and Means Committee, said, “We will continue to work with the White House and Treasury over the coming weeks to develop an additional 10 percent tax cut focused specifically on middle-class families and workers, to be advanced as Republicans retain the House and Senate.” Brady also hinted Republicans may cut government spending if they retain the House.

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