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A New, Turbulent Era for Real Estate Supply Chains

 

originally published by  for Propmodo and shared with NAIOP National

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If we’re looking at the effects of the broken supply chain on commercial real estate, it’s best to start at the beginning. And it all begins with the onset of the pandemic and its impact on manufacturers. Michigan Maple Block Company is a good example. On March 24, 2020, the Michigan Maple Block Company furloughed most of its 56 workers at its plant in Petoskey, Michigan.

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Seeing Past the Pandemic: Industrial Demand and U.S. Seaports

 

originally published by Brian Harper, Director of Data Science, Avison Young, and Aaron Ahlburn, Innovation Lead, Global Logistics, Avison Young for the NAIOP Research Foundation

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Supply chain disruptions have never been more salient to the average consumer. Congested seaports have received particular attention as record levels of inventory have piled up at ports and ships have been stuck offshore waiting to unload. While low levels of vacancy indicate robust current demand for industrial assets, developers, investors and building owners may wonder how closely industrial demand is tied to port activity and whether the current boom is sustainable.

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Reminder of Upcoming Election Schedule

 

originally published by REBIC with permission to prepost

Vote

Primary Elections are just around the corner! The time is now to do your research and get involved. As a reminder, the Election schedule is as follows:

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Election Update

 

originally published by REBIC with permission to repost

Two for Tuesday - REBIC

Important reminder that the comment period for the first draft of Charlotte’s proposed Unified Development Ordinance (UDO) closes at the end of the day on Friday, March 18th. We anticipate the next draft being released sometime in May and have encouraged a number of changes aimed at providing greater certainty with reduced timelines, more flexibility for challenging projects, and the ability to develop and produce additional housing stock to meet existing and future demands. We hope you will take the time to share your concerns with Planning Staff through the available online comment portal.

Medical Office Buildings Remain Resilient Amid National Vacancy Trends

 

originally published by IRINA LUPA for NAIOP National with permission to repost

Medical Office pic.

As two tumultuous years closed for the office sector and return-to-office plans were upended by new variants and case surges, millions of workers remained in remote or mostly remote setups. And, while the average office vacancy rate climbed across top U.S. markets, one segment continues to show resiliency: medical office buildings (MOBs).

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State Leaders Debate Budget Surpluses and Taxes

 

originally published by TOBY BURKE for NAIOP National with permission to repost

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Most state governments have emerged from the pandemic-induced economic slowdown with budgetary surpluses because projected revenue losses did not occur.  Losses in tax collections from certain sectors of the economy, such as restaurants, hospitality and entertainment, were offset by the collection of sales taxes from increased internet transactions, along with the $193.5 billion to states under the American Rescue Plan Act of 2021. The State Expenditure Report from the National Association of State Budget Officers notes that, while state expenditures have increased, so have revenues by 12.8% for fiscal year.

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New Uses for Office Buildings: Life Science, Medical and Multifamily Conversions

 

 

originally published by Emil Malizia, Ph.D., CRE for NAIOP Research Foundation

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Participate in the 2022 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey

 

originally published for NAIOP National

NAIOP is again partnering with CEL & Associates, Inc. to compile the 2022 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 33 consecutive years.

This valuable survey is the national standard allowing commercial real estate businesses to stay current on salaries, bonuses and benefits for CRE professionals from executives to entry-level positions. Each company that responds to the survey will receive a complimentary electronic copy of the full comprehensive survey report – a $2,750 value!

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Industrial Real Estate Opportunities in U.S. First-Mile Markets

 

originally published by TJ Parker for NAIOP Research and Publications

Boxes and Belt Picture

Industrial remains the darling of commercial real estate during the current cycle. Investor enthusiasm has remained strong, with total returns as measured by the National Council of Real Estate Investment Fiduciaries (NCREIF) in double-digit territory over the past cycle and demand showing no signs of slowing, especially as supply chain issues remain a crucial consideration for businesses and real estate developers. While last-mile industrial has been the focus of much of this investment, first-mile industrial is starting to attract attention. 

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Congress Rushing to Reach Spending Deal

 

originally published for NAIOP National

Authorization for continued government spending will expire on Friday, March 11, unless Congress agrees on an omnibus fiscal 2022 appropriations bill or passes another short-term funding extension. The time frame for action is shorter, however, because the House of Representatives is scheduled to recess Wednesday, with Democrats going to Philadelphia for their policy retreat.

House Democrats had planned to pass the omnibus spending bill by Wednesday, but negotiations have been complicated by a White House request for an additional $22.5 billion for COVID-19 relief funding, and the need for supplemental funding for humanitarian, military and economic aid for Ukraine. 

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Final Recommended CLT 2040 Policy Map

 

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The final recommended policy maps were released yesterday and can be found here.

  1. Please review any properties in which you may have an interest (current or future), provide comments online (either on the map app directly or via email to [email protected]), and let us know (via email) of any remaining concerns you may have. The comment period ends on March 21st.
  2. We are putting together a list of those who are willing to speak at the public hearing scheduled for the evening of Monday, February 28th. At this point it appears comments will be accepted both in person (PREFERRED – demonstrates higher level of commitment and interest in the issue) and virtually. If you or someone in your organization is available please sign up here and we will contact you.

The Policy Map is scheduled to be adopted on March 28th. The upcoming public hearing is our opportunity to convey any outstanding concerns to the ultimate decision makers – Members of the Charlotte City Council. General talking points will be available for distribution prior to the hearing.

INTERESTED IN SPEAKING AT THE CHARLOTTE CITY COUNCIL MEETING? SIGN UP HERE TO LET US KNOW!

New District Maps Passed Friday

 

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NC lawmakers pass new political maps, this time with…

North Carolina lawmakers have now passed new political districts for themselves and the state’s 14 seats in the U.S. House of Representatives – but it’s not the final decision, since the court system will still have a say in the matter next week. …

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www.newsobserver.com

Join the NAIOP Volunteer Community

 

Volunteers are the heart of our Charlotte Chapter and its success, and we encourage every member to become actively involved in one of our committees! We have a number of opportunities for involvement and more information on each committee can be found here. Our committees include Programs, Legislative, Membership, and Sponsorship. Interested? Reach out to [email protected].

Link Up with the Legislative Listserv

 

Last year, the NAIOP Charlotte Legislative E-List was created with the purpose of allowing members in good standing a platform to stay up to date and connected to the many legislative activities going on in Charlotte and the industry as well as participate in ongoing conversations relevant to the commercial real estate development community. Between the 2040 Comp Plan, UDO, Policy Maps, just to name a few, this is a fantastic tool to stay in the know. This list can be managed through your member profile. Follow these steps to sign up today.

Charlotte UDO Updates

 

2040 Policy Map
Charlotte’s 2040 Policy Map, currently undergoing its third iteration, is scheduled to be released next Monday, February 21st with a public hearing to follow on February 28th. We hope the new map will incorporate many of our recommendations, including encouraging higher densities where appropriate and letting the market guide potential future land use options. 

Election Update
The General Assembly is scheduled to vote Wednesday and Thursday of this week on newly drawn Congressional and State House and Senate Districts. Many involved in the process are hoping to reach some sort of compromise so the elections may proceed. Candidate filing is scheduled to recommence on February 24th. If things haven’t been settled by then, look for election dates to be pushed back yet again.


 

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Welcome New NAIOP Charlotte Members | February 15, 2022

 

We are proud to introduce our new association members! The following is a list of individuals who have joined NAIOP Charlotte since November 2021:

  • Dave Andrews
  • John L.  Berger
  • Kara A.  Blue
  • Brian Bunce
  • Dave Davis
  • Sara Downing
  • Malik Evans
  • Brittany Govoni
  • Adam S. Hawthorne
  • Alexa Jordan
  • Joseph L. Leary
  • Terry Martin
  • Timothy C. Murphy
  • Jordan E. Murray
  • Ian Patrick
  • Tony Rolfes
  • John Schick
  • Jason Smith
  • Jack Taylor
  • Drew Thompson
  • Wenzhuo Tuttle
  • Nick Vosnock

UNLOCKING THE KEYS TO LEADERSHIP SUCCESS

 

 originally published by MARIE RUFF for NAIOP National with permission to repost

Leadership Pic

“Whether you are in a leadership role or not, you are a leader,” said Leah Brown, Certified Dare to Lead™ facilitator, in a members-only webinar this week presented by Trammell Crow Company. You may be a leader in your industry, your family, your community, or elsewhere. What defines leadership is “trying to show up as our very best self and bring others along with us,” she said.

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6 Ways to Breathe Life Into Mixed-use Spaces

 

originally published by JEFF POLLAK, MANAGING PRINCIPAL, STREETSENSE for Building Design & Construction Network and shred by NAIOP National

6 ways to breathe life into mixed-use spaces
Mixed-use spaces elicit mixed emotions as they offer bigger, better, and bolder versions of their original iterations. This ups the ante for developers, but it's a worthy challenge because the end product benefits the local community and the quality of life for residents and users alike. The risk comes when a mixed-use place is positioned as “everything to everyone,” which rarely works.
To activate a space and realize its fullest potential, here are six tactics to consider in your strategic process: 
  1. Dig into Data
  2. Pay homage to history
  3. Fill in the missing gaps
  4. Put people first and dollars will follow
  5. Foster community and give a warm welcome
  6. Create a brand that underlines and elevates a space
Read the Full Article!

Join us for a Virtual UDO Listening Session

 

Beginning next Thursday, the Charlotte Department of Planning, Design & Development will host weekly virtual listening sessions focused on UDO topics that have sparked particular interest from the community. We invite you to share your input with staff about the proposed standards in the first draft UDO for the topics listed below. Each session will be offered twice on the scheduled day, from 12-1p.m. and 6-7p.m via Zoom. Registration is required. 

Thursdays with the UDO Virtual Listening Sessions
February 17, 2022 | Heritage Tree Protection
February 24, 2022 | Short-Term Rentals
March 3, 2022 | Neighborhood 1 Zoning Districts
March 10, 2022 | Parking

These sessions will include a brief presentation from staff about the topic followed by an open forum. If you are interested in speaking during the session, please sign up to speak when you register to attend. Based on the number of registered participants, individual speaking time will be limited. Your feedback is important to us, and we look forward to hearing from you!

REGISTER HERE

Key Races and Predictions for the 2022 Midterms and Beyond

 

originally published by KATHRYN HAMILTON, CAE for NAIOP National with permission to repost. 

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Five primary factors will shape this November’s midterm elections. Each has varying degrees of importance, but all solidly affect President Joe Biden’s approval ratings, which influences how people will vote, said Larry Sabato, Ph.D., political prognosticator, professor of politics at the University of Virginia, and founder and director of the University of Virginia Center for Politics, during an exclusive NAIOP members-only webinar this week.

Read the Full Article!