BLOG

Even Coronavirus May Not Quell Appetite For Flexible Office Space

Bisnow interviewed Michael Kloppenburg, senior consultant for flexible office solutions at Avison Young, and Daniel Levinson, chairman, CRE Holdings, subject matter experts for NAIOP’s new Real Estate as a Service course on the REaaS model.

Click Here to Read More

Lawmakers Work to Get Economic Aid Flowing

The federal government is scrambling to deliver economic help to the American economy under difficult circumstances. A key step is getting the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) up and running. SBA posted its interim final rule to govern the program last Thursday. There have been some glitches, but the SBA began granting loans last Friday, and banks are continuing to work this week to process additional loan applications. Information on the SBA’s loan programs and application information is located here.

Click Here to Read More

NAIOP’s Pledge to Its Members during COVID-19

Originally published on Tuesday, April 6, 2020.

The challenges presented by the COVID-19 pandemic are unprecedented and far-reaching. During this time of crisis, NAIOP is focused on delivering the invaluable education, advocacy, and research that you expect – and that your business depends on. This is NAIOP's pledge to help its members during this crisis, as we all work toward a time of good health and prosperity.

Click Here to Read More

What’s Happening with the Office Market? A Real-time Brokerage and Legal Perspective

As workers largely operate remotely during the COVID-19 crisis, will the shift out of the traditional office permanently change the sector? Register for the next Advantage Series webinar, April 8, 2 p.m. ET, to hear two experts share their perspectives on how the pandemic and its ripple effects have impacted office leasing activities and rates. 

Click Here to Read More

What Will Industrial Development Look Like Post COVID-19?

Originally published on April 1, 2020, by ED KLIMEK, AIA, NCARB

Commerce had begun to change before the outbreak of COVID-19; from the exponential trajectory of e-commerce to the rise in consumer demand for more immediate goods to the rise of urban industrial development to fulfill last-mile needs. The unknowns of this novel virus have accelerated that change to a tipping point at which the structures of commerce, and the development that supports it, maybe altered for good. This crisis has exposed the strengths and weaknesses of the market, and in doing so proved the necessity of a resilient supply chain. What will new commerce look like and what will be the industrial development response to support it? Some of this answer may lie in examining the world’s largest commercial enterprise, a company that had already set change in motion, and the one company that may have grown the most as a result of demand driven by the impact of COVID-19: Amazon. Through the lens of Amazon’s keys to success, we can see a path forward for industrial development to be part of the resilient supply chain.

Click Here to Read More

Mecklenburg County Amends Stay at Home Order

Today Mecklenburg County issued guidance, in conjunction with the Canopy Realtor® Association and Canopy MLS. 
Please read this information closely to ensure you are staying safe while maintaining business as needed.
Click Here to Read More

NAIOP Commends House, Senate on CARES Act

NAIOP commends the U.S. House for today's passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), following the U.S. Senate's passage on Thursday. We expect President Donald Trump to sign it into law shortly.\

The CARES Act will provide critical relief as businesses and individuals strive to manage the economic challenges created by the COVID-19 pandemic. We look forward to continuing our work with elected leaders on next steps, as well as supporting our members and the industry as we weather this crisis and plan for the future. 


Items in the legislation important to NAIOP members and commercial real estate include:

  • An aggressive loan program for small businesses, many of which are commercial real estate tenants, that is designed to help them meet their financial obligations and keep their employees on payrolls over the next few months. The loans, which are forgivable, will provide many of our tenants with needed liquidity to keep them operating during the crisis.
     
  • A much needed technical correction in the tax code for leasehold improvements, or Qualified Improvement Property (QIP). The Tax cuts and Jobs Act (TCJA) mistakenly made QIP depreciable over 39 years instead of 15, and ineligible for bonus (100% depreciation). The CARES Act fixes that, ensuring that those who made these investments in 2018 and 2019 can file amended returns and recover any overpaid taxes.
     
  • Net Operating Loss (NOL) rule changes allow businesses to carry back for 5 years any losses from 2018, 2019 and 2020, and losses carried forward can offset 100% of taxable income.

Additional provisions in the CARES Act and other federal actions already taken will be much-needed help for our economy.


Read More

Stuck at Home? Take Advantage of On-demand Courses

Hone your professional skills and gain new insights with NAIOP's on-demand courses. These online courses provide maximum flexibility for commercial real estate professionals to learn from home from the best in the business.

Click Here to Read More

Message from the President

Hello fellow NAIOP members,

We know most of you are working from your new home office and trying to keep life moving forward as normal as possible. While we are in very interesting and ever-changing times, we also want to do all we can to keep the commercial real estate market moving in a positive direction, albeit in a manner that makes sense and keeps people safe and healthy. This is so important to our state and local economies and, more importantly, to the many families that depend on the paychecks that our industry provides.

We have been very fortunate to have our local leadership continue to work keeping things open for business. We ask you to support our leadership, both locally and statewide, as difficult decisions are being made but done so in an effort to best fight the coronavirus. With most of us working from home, hopefully, it will help keep the spread to a minimum thus allowing us to get back to business as usual sooner rather than later. In the meantime, your NAIOP Charlotte leadership is discussing virtual learning opportunities to discuss best practices for dealing with this so that we can all share and learn in order to benefit all of us. This situation is one where we are all in it together and so anything we can share and learn will benefit all of us.

Our NAIOP staff is also working to put together conversations, that will be shared via webinars, within the next week. We see great opportunities to both keep our members informed, learning and connected. We are missing the comradery that we love to share and so, hopefully, any forums or virtual meetings we can have will help to meet some of that connectivity.

Read More

Solving the Pop-Up Puzzle: Tips for Owners and Short-Term Tenants

Originally published in the Winter 2019/2020 Issue by David Schneider, Herman Lipkis

There are a lot of reasons for developers to embrace these temporary spaces, but due diligence is required.

 

Pop-ups and short-term uses for commercial property have grown from a trendy concept into a means of monetizing vacant or underused spaces. Moreover, as improved and varied amenities have become a priority for commercial and residential tenants, real estate developers are starting to reframe how they think about existing and future development.

 

Read More

REBIC COVID19 Resource Website

As the entire country responds to COVID19, we will work to keep you informed as best we can on updates at a local level. In an effort to streamline that communication, we have developed a resource guide on our website. If there is information that you would like included here that we have missed, please email Madeline at [email protected].
 
REBIC staff is working remotely until further notice, but available any time through email or our regular phone line. If there is anything we can do to help as we all learn to navigate in this new normal, please do not hesitate to let us know.
 
Thank you,
Rob Nanfelt & Madeline Keeter
704-940-3171
Click Here to Read More

Local Impacts to the Real Estate Industry from NCDOI

Currently, all local planning and development offices are open and continuing inspections. The NC Department of Insurance is aware of issues with the register of deeds offices working with a smaller crew and is continuing to stay in communication with local, state and federal officials to ensure construction, permitting, and business can continue as usual as much as possible. For more information, please go to the COVID19 Resource page, where you will find links to local government updates and much more.

It is the direction from the NC Department of Insurance that all inspections and permitting should continue. Click here to read the letter from NCDOI.

Click Here to Read More

COVID-19’s Impact on CRE: What We Know Today (and Don't)

Join NAIOP Charlotte on Tuesday, March 24th at 2-2:30 p.m. ET for The Advantage Series is an exclusive member benefit, delivering expert insights into the latest research to help you make informed business decisions.

Repercussions from the ongoing COVID-19 pandemic are far-reaching and still quite unknown, but one thing is for certain: the impact on commercial real estate will be substantial. A week ago, CRE fundamentals were solid; will that improve our recovery timeline? What do experts see for the potential future of the industry? How do you recognize a deal today, and know whether it’s better to act quickly or hold? The questions are numerous, and NAIOP is here with guidance to support you today and get you thinking ahead for tomorrow. Have a question for our speakers? Submit it now.

Speakers:
Larry Lance, Executive Vice President-Asset Services, EverWest Real Estate Investors, and 2020 NAIOP Chairman
Al Pontius, National Director of Office & Industrial, Marcus & Millichap
John Chang, National Director of Research Services, Marcus & Millichap

Click Here to Register

NAIOP COVID-19 Website

The COVID-19 situation has quickly upended our lives, as companies shift to operating remotely full-time and we adjust how we work and socialize. Of course, our industry and your business remain top of mind as uncertainty in the market abounds.

Rest assured that NAIOP is focused on providing you knowledge that you and your company need right now.

We've launched a website to make it easy to find our resources, with helpful links, and a place to share your thoughts and volunteer to share expertise with our members.

Click Here to View Website

The Doors May Be Closed, But Mecklenburg County Code Enforcement Is Open For Business

The building may be closed, but make no mistake – Mecklenburg County Code Enforcement is open for business. Their dedication to serving customers and being a partner in building a thriving community has not wavered. 

Nearly all of the services can be accessed online. Links to all customer portals, staff contact information, and other customer resources are listed on MeckPermit.com. They are also maintaining a list of all modifications we have made and will make in response to the COVID-19 pandemic.

Click Here to Read More

Congress, States Struggle to Deal with Coronavirus

Senate lawmakers cancelled a planned recess and will instead remain at work in Washington, D.C., this week, where they will take up a bill passed by the House of Representatives last week that seeks to provide immediate economic relief from the effects of the novel coronavirus, COVID-19. 

The House voted overwhelmingly, 363-40, to approve the measure, for which President Donald Trump had signaled support. The Wall Street Journal reported: “The new measure would still provide two weeks of sick leave to a wide swath of workers affected by the pandemic, including those who are in quarantine, caring for family members with Covid-19, and those who have children whose schools or day-care centers have closed.” The bill would also make free testing for the coronavirus available.

Click Here to Read More

Industrial Space Demand Forecast

Originally published in February 2020 by Hany Guirguis, Ph.D., Manhattan College and Timothy Savage, Ph.D., New York University

The NAIOP Industrial Space Demand Forecast is based on a predictive model that forecasts demand for industrial space at the national level on a quarterly basis for eight consecutive quarters.

It utilizes variables that comprise the entire supply chain and lead the demand for space, including varying measures of employment, GDP, exports and imports, and air, rail and shipping data.

Leading indicators that factor heavily into the model include the Federal Reserve Board’s Index of Manufacturing Output (IMO), the Purchasing Managers Index (PMI) from the Institute for Supply Management (ISM) and net absorption data from CBRE Econometric Advisors.

Read More

NAIOP Corporate Operations Remain Open

Today, NAIOP President and CEO Thomas Bisacquino shared the following statement with NAIOP members regarding the operating status of the organization during the COVID-19 situation.

The unprecedented COVID-19 situation is affecting every aspect of our businesses and lives. While NAIOP member benefits and services will not be impacted, the NAIOP Corporate office is adjusting our normal business practices to protect the health and well-being of our staff.

Beginning Monday, March 16, NAIOP Corporate will operate on a virtual basis. Staff are completely reachable during regular business hours (8 a.m.-5 p.m. ET) via phone and email, which you can find on our Contact Us page.

You can renew or modify your membership online, and you can communicate with a membership specialist by emailing [email protected].

Click Here to Read More

The Cleaning Industry Ramps Up To Fight COVID-19 At Commercial Properties, But It Might Fail

Originally published on March 15, 2020, by Dees Stribling at Bisnow National

As business and property owners take precautions against the spread of the novel coronavirus, many say they are "deep cleaning" their spaces while keeping them open to customers and tenants alike. Yet what precisely a deep cleaning means — and how effective it might be, considering lingering questions about how long the virus lasts on surfaces — isn't exactly clear. Moreover, the commercial cleaning industry is fragmented, unregulated and perhaps unprepared to deal with the current surge in demand.

Click Here to Read More

Coronavirus Clouds Construction Cost Projections

Originally on March 04, 2020, by Erika Morphy via GlobeSt.com

Construction costs, which have been on the rise for years, were slated for another increase this year. But there was good news: cost growth was expected to be at a slower pace than previous years, according to the JLL 2020 Construction Outlook. Unfortunately there is also bad news: the coronavirus has just added an element of uncertainty to projections about construction costs.

Read More