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Participate in the 2021 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey

Originally published on March  3, 2021, by Kathryn Hamilton for NAIOP.org. 

NAIOP is again partnering with CEL & Associates, Inc. to compile the 2021 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey. A nationally known real estate advisor, CEL has conducted this survey –the largest in the industry – for 32 consecutive years.

Complete the survey by April 30. 

Take Survey

 

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Congress Returns to Take on Infrastructure, Biden Budget Request

Both chambers of Congress return to Washington, D.C., this week from a two-week recess, prepared to begin work on President Joe Biden’s American Jobs Plan, an approximately $2.4 trillion package to fund infrastructure investments, research and development, clean energy tax credits, and expansion of Medicaid coverage for long-term care services, among others. Biden is scheduled to meet with Republican and Democrat leaders to begin talks on achieving a bipartisan bill, but the White House and Democrats have signaled their intent to pursue the budget reconciliation process if a bipartisan agreement is too difficult. Budget reconciliation allows legislation to pass the Senate with a simple majority, rather than the 60 votes usually required to avoid a filibuster.

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Public Meetings for 1-77 Corridor Project are on April 21 and May 13

In January 2020, representatives from the Charlotte Regional Transportation Planning Organization (CRTPO) publicly launched Beyond 77, a project focused on improving travel along the I-77 Corridor from Statesville, N.C. to Rock Hill, S.C. To date, over 19,000 surveys have been completed in an effort to prioritize transportation alternatives for the area. In early April, the third and final public engagement phase kicked off, where participants are asked to weigh in on potential solutions. Residents who live, work or travel through this region are encouraged to participate in the study by visiting Beyond77.com and taking a brief survey.

For those who want to hear directly from the planning team, representatives from the Beyond 77 study will be hosting two Virtual Public Meetings on April 21 and May 13 from noon to 1 p.m.

To learn more about the public meetings and to register, visit Beyond77.com/Register.

Biden Unveils $2.3 Trillion Infrastructure Proposal

Originally published on April 6, 2021, for NAIOP Source E-Newsletter.

President Joe Biden has unveiled his American Jobs Plan, a $2.3 trillion plan to fund infrastructure projects such as roads, bridges and railways, but also what the administration terms “human infrastructure” investments in childcare, as well as measures to transform the energy sector toward a carbon-free future. In order to fund the plan, the Biden administration proposes to raise the corporate tax rate from the current 21% to 28% and would seek a global minimum tax for multinational corporations.

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Council Delays Vote on 2040 Plan | Time to Speak Out

Thank you to our many members who showed up to speak at the virtual public hearing on the draft Charlotte Future 2040 Plan. Mayor Lyles announced that the vote will be pushed to June 28,2021 to allow for more public input. We look forward to continuing to work with members of City Council and planning staff to assist in completion of the plan.

As part of the continued request for public input, the City of Charlotte has scheduled the first three virtual town halls.

Thursday, April 8 at 5:30 PM – Hosted by Council Member Malcolm Graham

Topic: Anti-Displacement in Vulnerable Neighborhoods (Creating Great Neighborhoods)

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New Report: Emerging Construction Technologies

Originally published by Andrew McCoy, Ph.D., and Amin Yeganeh, Ph.D. in March 2021 for NAIOP's Research Foundation.

The construction industry has historically been slow to develop or adopt new technologies, resulting in productivity growth that has lagged other sectors. However, protracted labor shortages have increased demand for labor and time-saving technologies, and recent advances have given rise to a new generation of more efficient, flexible and adaptive construction technologies. Successfully adopting these new technologies will require that firms evaluate their costs, benefits and risks and update construction practices as needed.

The NAIOP Research Foundation commissioned this report to explore emerging construction technologies and their implications for the construction and real estate development industries. The authors draw from interviews with researchers and industry practitioners to evaluate the current benefits and limitations of new technologies. This report:

  • Profiles technologies that are rapidly being deployed in construction projects and those that are likely to be adopted by the industry in the coming years.
  • Examines how technologies have the potential to transform construction practices and disrupt traditional business models.
  • Outlines best practices for firms to prepare for and adapt to new technologies.
Download Report

New Report: Emerging Construction Technologies

Originally published by Andrew McCoy, Ph.D., and Amin Yeganeh, Ph.D. in March 2021 for NAIOP's Research Foundation.

The construction industry has historically been slow to develop or adopt new technologies, resulting in productivity growth that has lagged other sectors. However, protracted labor shortages have increased demand for labor and time-saving technologies, and recent advances have given rise to a new generation of more efficient, flexible and adaptive construction technologies. Successfully adopting these new technologies will require that firms evaluate their costs, benefits and risks and update construction practices as needed.

The NAIOP Research Foundation commissioned this report to explore emerging construction technologies and their implications for the construction and real estate development industries. The authors draw from interviews with researchers and industry practitioners to evaluate the current benefits and limitations of new technologies. This report:

  • Profiles technologies that are rapidly being deployed in construction projects and those that are likely to be adopted by the industry in the coming years.
  • Examines how technologies have the potential to transform construction practices and disrupt traditional business models.
  • Outlines best practices for firms to prepare for and adapt to new technologies.
Download Report

The Vaccines are Here. What Happens Next?

Originally published  by Trey Barrineau for NAIOP Spring 2021 Issue

The rollout of immunizations to defeat COVID-19 has enormous implications for the commercial real estate industry.

In late 2020, the U.S. and other countries began distributing vaccines to control the COVID-19 pandemic. It is the single most important development in the year-long fight against the disease, which has killed and sickened millions around the world and crippled the global economy.

The stakes are high. The vaccines will not only save lives and boost the morale of hundreds of millions who have been forced to live constrained lives due to lockdowns and other public health measures; experts say they are also the most important factor in the overall economic recovery from the pandemic. The commercial real estate industry has been hit hard by the pandemic, particularly the retail, office, and lodging sectors.

“If we get 70% to 85% of the country vaccinated by the end of the summer, I believe by the time we get to the fall, we will be approaching a degree of normality,” Dr. Anthony Fauci, the chief medical advisor to President Biden, said in late January. “It’s not going to be perfectly normal, but one that I think will take a lot of pressure off the American public.”

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Up to $28B in Distressed Retail Could Hit the Market in the Next 24 Months

As the U.S. enters year two of the COVID-19 pandemic, strip centers and malls, which have had most of the exposure to retail tenants that have struggled from a sales perspective, stand at the greatest chance of experiencing property-level distress in the months to come, according to Kevin Cody, the senior consultant at real estate data firm CoStar Advisory Services.

CoStar expects the average vacancy rate for malls across the country to climb by around 3.1 percentage points between the fourth quarter of 2019 and the fourth quarter of 2021, Cody notes. At the same time, the vacancy rate for neighborhood shopping centers and freestanding retail will likely climb by only 1.3 percentage points and 0.4 percentage points, respectively.

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Biden to Detail Infrastructure Proposal This Week in Pittsburgh

Originally published on March 30, 2021, for NAIOP Source E-Newsletter

President Joe Biden is expected to unveil his plans for an infrastructure and economic growth proposal amounting to nearly $4 trillion while on a visit to Pittsburgh this Wednesday. The package is expected to be divided into two parts, with the first part focused on infrastructure investments for transportation and initiatives related to Biden’s efforts to address climate change. The second package will be geared toward domestic initiatives such as national childcare programs, free community college, and universal pre-kindergarten.

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Legislative Issues in the Southwest: Working With Policymakers to Make a Difference for CRE Webinar (exclusive DL program)

Exclusive NAIOP Developing Leaders Program for Members in our Southwest Chapters

What are the big legislative issues facing businesses in your market? NAIOP Developing Leaders from our Southwest chapters are invited to an exclusive program to hear from industry and legislative leaders on these pressing issues:

  • Increasing revenue sources through higher commercial real estate taxes. California defeated this issue in 2020, but as states face declining revenues, CRE could be targeted.
  • Barriers to economic growth and CRE development. Our industry contributed $1 trillion in 2020, and the impact on state economies is invaluable. 
  • Environment and sustainability. Hear strategies for working with local policymakers on green roof requirements, energy benchmarking mandates, net-zero buildings, and more.
  • Business and community topics. From affordable housing to impact fees to supporting businesses as we emerge from the pandemic, how can NAIOP engage with the government to support the industry and the communities in which we operate?

Engage in a discussion with both CRE practitioners and lobbyists who work with chapters in your market, then break into smaller groups for deeper discussions and networking.


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Making the Office a Community-driven Workplace Destination

Originally published on March 26, 2021, by Cary Chandler and Ellen Lieder for NAIOP

Although the long-term impacts of the pandemic on the office environment are yet to be determined, many knowledge workers could eventually go back to the office. When workers return to urban office towers, they may anticipate an exceptional experience that delivers more than their home office could offer: a workplace destination that has community attractions they’ve craved over several months of remote work.

While in the short term, building owners are addressing immediate safety issues and protocols, the longer-term reality is looming. As a private, dedicated workspace has become a luxury rather than a given, the need to deliver more than places to perform tasks has become an imperative. The workplace must now deliver a first impression that will serve as an impetus for community building and shared purpose, productive individual spaces, and “third places” (neither home nor office) that support innovation and collaboration.

All of that might seem like a tall order, even for high-rise office buildings. Here are a few ways office building owners in downtown Chicago are reinventing their properties as urban workplace destinations.

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Webinar March 31: The Era of Omnichannel Real Estate

The disruption caused by COVID-19 has accelerated the blending of brick-and-mortar retail and logistics real estate. This has resulted in the emergence of a new hybrid store model – one that takes omnichannel strategies to the next level and promises to revolutionize the retail, industrial and logistics industries. In this webinar, speakers from CBRE will share their vision for a hybrid store that allows consumers to engage and purchase seamlessly in store and online across a wide range of retail categories and product lines. This new model will preserve the store experience for physical shopping while leveraging logistics capabilities for the fulfillment of online sales.

Speakers:
John Morris, Head of Industrial and Retail, CBRE
Andres Rodriquez, Senior Research Analyst, CBRE

This webinar is part of a six-part series on industrial-focused topics hosted by NAIOP throughout 2021.

Register Here

Stay Current on CRE Salaries, Bonuses and Benefits

Participate in the 2021 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey and receive a complimentary digital download of the full comprehensive survey report – a $2,500 value! The report includes submissions from over 300 companies; salary, bonus, incentives and benefits for up to 200 CRE positions; and data from more than 100,000 distinct jobs in the office/industrial, retail and residential property sectors. Complete the survey by April 30.

Take Survey

City of Charlotte wants your feedback on the Non-Residential Building Code Ordinance

We want your feedback on the NRBC Ordinance

The City of Charlotte’s Great Neighborhoods Committee is in the process of reviewing and evaluating the city’s current Non-Residential Building Code (NRBC) Ordinance and would like your feedback.

The NRBC Ordinance, which was created in 2009, addresses interior, exterior and property maintenance standards for commercial businesses.

If commercial buildings are not properly maintained, they can have a negative impact on surrounding neighborhoods and businesses. Violations to the NRBC Ordinance can range from buildings open to vagrants and criminal activity to broken windows or major structural issues.

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Exclusive Member Discount: ARGUS Software Certification

ARGUS Software Certification (ASC) - Enterprise Bundle

NAIOP has partnered with the Altus Group to offer NAIOP members a discounted price of $900. You will need a promo code to receive this special pricing on their website. Please contact the NAIOP Center for Education at [email protected] for the promo code.

This package includes eight eLearning courses, Certification Manual (eBook), three month Academic (Windows Compatible Only) ARGUS Enterprise License, Prep Exam and the ASC Exam. Upon successful completion of this exam, students will achieve certified status in ARGUS Enterprise. 

Registration is processed thru the Altus Group website. Please make sure to enter the promo code to receive discounted pricing.

Register Here

How IoT Can Help Create Safer Workplaces During COVID-19 and Beyond

Originally published by Mark Milligan for NAIOP's Winter 2020/2021 Issue

Data gathered by smart sensors can provide actionable information to guide social distancing, sanitizing and more.

As the end of 2020 approaches, the commercial real estate industry continues to face uncertainty from the COVID-19 pandemic. Many companies have shifted to a work-from-home model where possible, with no clear timeline for bringing employees back to the office. The unpredictability created by COVID-19 is driving office tenants to stay as flexible as possible and increase their options — forgo renewing leases, subleasing their spaces, and delaying commitments wherever possible. That makes it challenging for commercial real estate professionals to secure buyers and tenants.

In addition to the current challenges, there is much discussion in the industry about commercial real estate’s future. For example, businesses are adjusting to a virtual workforce and might not need as much office space in the years ahead — and the space they do need will likely have different requirements than in the recent past.

This was pointed out in a recent interview on CNBC with BlackRock CEO Larry Fink, who said he does not envision the firm’s entire workforce ever being in the office at the same time.

Register Here

Legislative Issues in the Southwest: Exclusive NAIOP DL Program

Exclusive NAIOP Developing Leaders Program for Members in our Southwest Chapters

What are the big legislative issues facing businesses in your market? NAIOP Developing Leaders from our Southwest chapters are invited to an exclusive program to hear from industry and legislative leaders on these pressing issues:

  • Increasing revenue sources through higher commercial real estate taxes. California defeated this issue in 2020, but as states face declining revenues, CRE could be targeted.
  • Barriers to economic growth and CRE development. Our industry contributed $1 trillion in 2020, and the impact on state economies is invaluable. 
  • Environment and sustainability. Hear strategies for working with local policymakers on green roof requirements, energy benchmarking mandates, net-zero buildings, and more.
  • Business and community topics. From affordable housing to impact fees to supporting businesses as we emerge from the pandemic, how can NAIOP engage with the government to support the industry and the communities in which we operate?

Engage in a discussion with both CRE practitioners and lobbyists who work with chapters in your market, then break into smaller groups for deeper discussions and networking.

Register Now

Webinar March 23 to Explore the Latest CRE Employment Trends

Examine the biggest trends in commercial real estate employment so you can make more strategic hiring and business decisions. Join these two experts for a discussion on how the pandemic has reshaped the talent management industry, recent findings on industry employment trends and compensation, recruitment and retention tactics, and the future of the commercial real estate workforce. Wondering how your business can address diversity and inclusion, succession planning or managing a multigenerational workforce? Bring your employment questions for our speakers to address during the Q&A portion of the webinar.

Speakers:
Christopher Lee, President and CEO, CEL & Associates
Marc Torrey, Vice President, SelectLeaders

Watch Webinar

Call to Action on the 2040 Comp Plan

We need your voice!

Over the past few months, NAIOP Charlotte, in conjunction with REBIC and other real estate associations, has spent considerable time and energy reviewing the proposed 2040 Comprehensive Plan from the City of Charlotte (the Comp Plan)

It is a hefty document coming in at 320 pages and is a visionary document for how Charlotte will grow and develop over the next 20 years.  Charlotte Planning created the document with considerable community input, and it will be used as the guide for creating the  Unified Development Ordinance (a replacement for our existing zoning code), so there is a lot riding on the proper execution of the Comp Plan.

The Comp Plan rightfully addresses many concerns the community has, especially around equity and inclusivity   We fully support these goals, yet we want to be able to include goals to create a thriving community into the plan as well.  It is hard to distill such a large document into a few points, but the following are highlights of our concerns with the plan and the process to create it:

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