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Social Distancing Accelerates Retail Trends, Space-Use Models

Originally published by Dan Spiegel for Commercial Property Executive on October 9, 2020. 

The COVID-19 pandemic accelerated trends in our work and home lives that were already underway. For many office workers, employers that previously embraced some workplace flexibility, permitting employees to work from home on occasion, are now experimenting with full-time flexible models and rethinking the physical workplace.

Similarly, the migration from in-store to online sales—that was already trending for office supplies and shoes—now includes an increasing percentage of online sales of groceries, home furnishings, and many other consumer goods. Beyond online shopping, COVID-19 is accelerating retail trends regarding the customer experience and use of space. 

 

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Economic Update with Ted Abernathy is Tomorrow! Still Time To Register

Tracking Trends and Tangents as We Reimagine
Our Post-Pandemic Economy (and Lives)

Tomorrow 10/20 | 9:00am - 10:00am

Learn about real estate repurposing, relocating people and companies, reshoring, remote everything, robots, ROI, and rising risk during this virtual event on the state of the economy and gain insight into what it will now look like over the next couple of years.

Submit questions in advance here.

Our Presenter

Ted Abarnathy PhotoTed Abernathy is the Managing Partner of Economic Leadership LLC, a consultancy that is currently working in more than a dozen states to develop economic and workforce strategies. Ted has 35 years of experience in directing economic development and workforce development programs. From 2008-2013, Ted was the Executive Director of the Southern Growth Policies Board, a 42-year old public policy think tank that provided economic development research, strategy, and marketing advice, to states and communities across the South. He also served as an economic development policy advisor to the Southern Governors Association. Read More.

Event Sponsor Opportunity

Increase your company visibility and bring more people! Receive five (5) registrations for $150 plus be recognized on the event webpage, on event email promotions, and during the event. NEW BENEFIT! Event sponsors will also receive the event recording. Click here to confirm today!



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Reg Rates Increase Friday! Register Now for Tracking Trends and Tangents

Tracking Trends and Tangents as We Reimagine
Our Post-Pandemic Economy (and Lives)

Tuesday, October 20, 2020 | 9:00am - 10:00am
Registration Rates Increase Friday, October 16!

Next week, come learn about real estate repurposing, relocating people and companies, reshoring, remote everything, robots, ROI, and rising risk during this virtual event on the state of the economy and gain insight into what it will now look like over the next couple of years. Submit questions in advance here.

Our Presenter

Ted Abarnathy PhotoTed Abernathy is the Managing Partner of Economic Leadership LLC, a consultancy that is currently working in more than a dozen states to develop economic and workforce strategies. Ted has 35 years of experience in directing economic development and workforce development programs. From 2008-2013, Ted was the Executive Director of the Southern Growth Policies Board, a 42-year old public policy think tank that provided economic development research, strategy, and marketing advice, to states and communities across the South. He also served as an economic development policy advisor to the Southern Governors Association. Read More.

Event Sponsor Opportunity

Increase your company visibility and bring more people! Receive five (5) registrations for $150 plus be recognized on the event webpage, on event email promotions, and during the event. NEW BENEFIT! Event sponsors will also receive the event recording. Click here to confirm today!
 

Registration

Registration for members is $25 and $35 for non-members through tomorrow, October 15. Beginning Friday, October 16, the registration fee will increase to $35 for members and $45 for non-members. Prior registration is required. Zoom details will be sent 24 hours in advance of the event.

 

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Industrial Real Estate Demand on the Rise in the U.S.

Originally published by Cairg Meyer and Rich Thompson for NAIOP's blog on October 5, 2020. 

Investing in industrial real estate was never considered as attractive as office or retail in the past. However, this dynamic has changed, in large part, due to the growth of e-commerce. Investing in industrial real estate is red hot and the continued growth of consumer online shopping drives the need for additional warehouse space. Industrial real estate – including plants, warehouses and distribution facilities – has been the investment “asset class of choice” the past several years and demand is on the rise.

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How Coronavirus Changed the Retail Landscape

Originally published for the Wall Street Journal by Inti Pacheco on October 6, 2020.

The coronavirus pandemic accelerated a major shift in the retail industry. Traffic to stores evaporated. Online credit-card transactions soared. E-commerce sales in the second quarter rose by 44.5% compared with the same period in 2019 and they now make up 16% of all U.S. retail sales, according to the Commerce Department.

Consumer spending has picked up since many cities and states began lifting lockdown restrictions and allowing stores to reopen in May, but only some sectors have regained lost ground. 

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Just Announced: Officecast is Coming Nov. 9-10

Date: Monday, November 9, 2020 - Tuesday, November 10, 2020

Where: Virtual

The world is re-examining how we go to work, and the implications for the office sector can’t be overstated. Prepare for the paradigm shift at Office cast 2020.

Hear from leaders in the space about how to adapt to the radical shifts in work habits and tenant demands; the powerful, practical technologies critical for a healthy workplace; the state of capital markets; potential untapped submarket stars, and more.

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2020 REBIC General Election Voter Guide

The Real Estate and Building Industry Coalition (REBIC) has released the 2020 General Election Voter Guide. Make sure you know where to vote early! Find your local polling place with the North Carolina State Board of Elections and download the voter guide by clicking the image below.

2020 REBIC General Election Voter Guide

NAIOP September Coronavirus Impacts Survey: Deals Continue, but Challenges Persist

Originally published on October 2, 2020, by Shawn Moura, Ph.D. for NAIOP.

Last week, NAIOP conducted its sixth monthly survey of its U.S. members on the impacts of COVID-19. Since April, the association has examined the pandemic’s effects on commercial real estate and how firms have responded. Respondents to the survey report continued, gradual improvement in deal activity, but also indicate that the coronavirus is having a more pronounced effect on ongoing development projects than in prior months. In addition, more building owners are responding to the outbreak by offering tenants a broader range of rent relief arrangements and by increasing building safety precautions.

The survey was completed by 203 NAIOP members between September 15 and 18, 2020. Respondents represent a range of professions, including developers, building owners, building managers, brokers, lenders, and investors.

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Rethinking Real Estate: The Office of the Future

Originally published by Rob Derven in the NAIOP Fall 2020 Issue.

Safety, health, and wellness in buildings and workplaces may become as important over the next 10 years as LEED certification has been over the past decade.

Cool, transit-rich urban office projects of the future and their suburban counterparts will offer tenant-attracting amenities and design, but what may actually close the deal will be the safety, health, and wellness features of the building. That’s according to recent interviews with office developers/owners who are on the front lines of making their projects safe places to work.

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New Report: Midyear Economic Impacts of COVID-19 on CRE

Originally published by Stephen S. Fuller Ph.D. for NAIOP on October 2020.

The NAIOP Research Foundation commissioned Steve Fuller, Ph.D., professor emeritus at George Mason University, to undertake a study of the 2020 mid-year economy and how second quarter shocks may influence commercial real estate development in the future.

Fuller found, according to government and private-sector data, declines in expenditures and value across most building types, specifically:

  • Construction expenditures and building activity for office, industrial (excluding warehouse), and retail buildings declined 23.4% from midyear 2019 to midyear 2020.
  • For the same period, the value of nonresidential construction put in place was down 23.2%.
  • Fuller estimated that the value of nonresidential construction put in place for all of 2020 will decline by 18.1% from 2019.

Government officials, elected representatives, and professionals should be aware of the critical contributions of construction and real estate development in strengthening and advancing the economy. Supporting construction activity through public policy, creating a positive business climate, and enabling governments to accelerate project approval processes will further boost affected economies and contribute to a broader economic recovery.

Click Here to Download Report

Emerging Logistics Trends in Commercial Real Estate

Originally published by Brielle Scott for NAIOP on September 30, 2020. 

In a recent keynote at the CORFAC International Virtual Fall Summit, Curtis Spencer, president of IMS Worldwide, discussed the rapidly evolving trends that are affecting all sectors of commercial real estate, including supply chain shifts, increasing demand for cold storage, reshoring and more.

“New supply of industrial space outpaced demand in 2019, but because 2018 was a record year for industrial absorption, absorption numbers for 2019 appeared low, as much-needed industrial supply finally caught up to tenant demand,” he pointed out.

Industrial real estate operators expect the redistribution of consumer supply chains due to the coronavirus pandemic to drive a new surge in warehousing demand. A push for supply chain resilience will lead to a projected additional 750 million square feet of industrial space in the U.S. alone, as companies look to foster safety stock of inventory.

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Vote Yes For City Bonds

Originally published in October 5, 2020, Real Estate & Building Industry Coalition Newsletter.

City Bond Campaign Weekly Update

Vote Yes For Bonds (@VoteYes4Bonds) | Twitter

On the 2020 general election ballot, City of Charlotte voters has the opportunity to approve a $197.2 million bond referenda package that will fund construction and revitalization of transportation corridors including streets and sidewalks, more affordable housing, and improvements to neighborhoods in established and emerging high-growth areas. At the end of your ballot, please vote YES ✅ for all three bonds: $102.7 million for streets, $50 million for housing, and $44.5 million for neighborhoods.
 
 
Click Here for More Information

Opportunities to Provide Feedback to Municipalities

Originally published in October 5, 2020, Real Estate & Building Industry Coalition Newsletter.

Mooresville UDO Visual Preferences Survey

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Important Election Information

Originally published in October 5, 2020, Real Estate & Building Industry Coalition Newsletter.

REGISTER TO VOTEhttps://www.ncsbe.gov/registering 

**This page also includes resources to assist you in checking your registration status, polling location, and receive a sample ballot for your area.

REQUEST AN ABSENTEE BALLOThttps://www.ncsbe.gov/voting/vote-mail

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October Events & News

 Upcoming Events

 

  • Tuesday, October 20, 2020 
    Tracking Trends and Tangents as We Reimagine Our Post-Pandemic Economy (and Lives)
    As COVID continues to take a toll on the world, come learn about real estate repurposing, relocating people and companies, reshoring, remote everything, robots, ROI, and rising risk during this virtual event on the state of the economy and gain insight into what it will now look like over the next couple of years. Thank you to our Event Sponsors: Rodgers Builders, Inc. │ The McIntosh Law Firm.

News

Throughout the turbulence of 2020, NAIOP has remained steadfast in helping our 20,000 members — commercial real estate developers, owners, investors, brokers, and more — advance their businesses and the industry. There is strength in numbers, so don’t be isolated in your career or business.

Join for 2021 and receive the rest of 2020 free! Get up to 15 months of NAIOP membership for the cost of 12 with this special offer.
Click Here for More News

Congratulations 2020 Golf Tournament Winners!

Thank you to everyone who came out on Monday, September 28, for the NAIOP Charlotte and CRCBR Annual Golf Tournament at Carolina Golf Club. Congratulations to all of our tournament winners!

View Photos

Check back for more photos coming soon!

GROSS Winners

Our first place winners based on GROSS were:
  • AM Flight (54) Wesley Walls, Chase Rose, Chris Rogers, Chip Pope
  • PM Flight (54) Barry Fabyan, Tom Fitzgerald, Stephen Woodard, Charley Leavitt
Our second place winners based on GROSS were:
  • AM Flight (57) Derek Mathis, John Hunter, Sloan Kormelink, Gary Creed
  • PM Flight (55) David Truesdale, Pat Nolan, Sean DeLapp, Mike Massardo
Our third place winners based on GROSS were:
  • AM Flight (60) Gary Cline, Timothy Griffin, Caleb Phillips, Michael Byrd
  • PM Flight (56) Charles Blankinship, Steve Gosselin, John Hunter, Charles Jonas

NET Winners

 Our first place winners based on NET were:
  • AM Flight (48) Jake Bachman, Kevin Ammons, Cam Barradale, Blake Bickmore
  • PM Flight (46) Tom Planishek, Jim Thorpe, Stephanie Spivey, Taylor Ferguson
Our second place winners based on NET were:
  • AM Flight (50) Joey Morganthall, Keely Hines, Sara Hogan, David Larr
  • PM Flight (48) Dan Heath, Brett Phillips, Greg Welsh, Donny Hicks
Our third place winners based on NET were:
  • AM Flight (52)  Brad Loman, Jonathan McLester, Jimmy Penman, Trip Harris
  • PM Flight (50) Will Caulder, Clifton Coble, Mike Fahey, Rob Hinton

Contest Winners

Closest to Pin - Hole 12 (sponsored by Metromont Corporation)
  • AM Flight Wood Britton
  • PM Flight Barry Fabyan
Closest to Pin - Hole 16 (sponsored by Cenero)
  • AM Flight Michael Byrd
  • PM Flight Wall Caulder
Longest Drive Contest (Male) - Hole 6 (sponsored by Giles Flythe Engineers, Inc.)
  • AM Flight Chase Rose
  • PM Flight Stephen Woodard
Longest Drive Contest (Female) - Hole 17 (sponsored by Brasfield & Gorrie, LLC)
  • AM Flight Sara Hogan
  • PM Flight Jessica Brown
Putting Contest (sponsored by Elliott Davis)
  • AM Flight Carter Sorrells
Thank you again to all of our participants and sponsors. We'll see you again next year!
Thank You to Our Tournament Sponsors
Beverage Cart
Hole-in-One
Putting Contest
Scoreboard
Scorecard
Closest to the Pin
Longest Drive Contest (Male)
Longest Drive Contest (Female)
Breakfast
Cold Towel

Short-term US Spending Bill Passes; New Coronavirus Relief Package Introduced

Originally published on September 29, 2020, by NAIOP E-Newsletter

U.S. lawmakers came to an agreement last week on a short-term spending bill to keep the government funded through Dec. 11. The stopgap measure was passed by the House last Tuesday and is expected to be cleared by the Senate and signed by President Donald Trump this week. The bill ensures the government will not be shut down come to the Oct. 1 deadline, the start of the new fiscal year. But its expiration date also sets up a likely fight over funding in the lame-duck congressional session following the November elections. 

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Development Magazine Fall Issue Now Online

Originally published by Ron Derven in NAIOP's Fall 2020 Issue

The cover story features NAIOP’s 2020 Developer of the Year, Kilroy Realty Corporation, and explores the office of the future, the industrial sector post-COVID, construction trends, notable deals and developments, and more. Read the full issue online or download a PDF version to browse anywhere. 

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Construction and COVID-19: Short- and Long-term Impacts

Originally published by Henry D'Esposito on September 24, 2020.

In 2019, private construction spending had slowed in the U.S. for the first time since the last recession. Then, at the beginning of 2020, construction was growing at a slow, steady pace. Suddenly, the COVID-19 pandemic hit, creating instability across markets and property types.

Even in cities and states where construction was not shut down because of the pandemic, stay-at-home orders created challenges for operating building sites. From March to June, those shutdowns and stay-at-home mandates covered most of the U.S. and impacted a large majority of job sites. Infection rates and varying government responses were the primary cause of slowing construction, and whether or not a market was forced to shut down, construction had a large impact on spending. Of the seven states that issued a shutdown order, the average length of those shutdowns was 41 days. And while the long-term effects in markets with shutdowns are not expected to be severe, work levels remained lower in those markets even after construction resumed, as opposed to markets that did not shut down.

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Office Leasing to Recover by 2025, Cushman & Wakefield Report Predicts

Originally published by Gail Kalinoski on September 25, 2020.

The study expects office sector recovery to be slow, but employment will eventually help spur improvements in absorption, vacancy, and rental rates.

A new report from Cushman & Wakefield examining the global impacts of the pandemic on commercial real estate predicts office leasing fundamentals will be significantly affected for years to come with increasing vacancies and decreasing rents. Vacancy will peak in the U.S. in the second quarter of 2022 and return to pre-crisis levels by 2025. The work-from-home trend, which will continue and permanently double, is expected to slow recovery more than recent recessions.

 

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