1. NC Senate President Pro Tem Phil Berger and House Speaker Destin Hall Visit REBIC
   On Monday, February 24th, North Carolina Senate President Pro Tem Phil Berger and House Speaker Destin Hall visited Charlotte to brief REBIC members on the current legislative session and discuss various issues. Also present were Senators Dave Craven and Brad Overcash, along with Charlotte City Councilman and Transportation, Planning, & Development Committee Chair Ed Driggs.
   
   The top-of-mind issue for most in the room was the introduction of S.B. 145, the Mecklenburg Transportation Referendum. The passage of this legislation would be the first step in achieving our goal to develop and implement a regional transportation plan. The bill’s introduction marks a significant milestone following more than five years of coordinated efforts on both local and state levels. In addition to REBIC, the Partnership for Regional Cooperation and the Charlotte Regional Business Alliance have been at the forefront of this initiative. We highly encourage others in the business community to support us as we seek passage of this important bill.
   
   Should it make its way through the legislative process, it will then be up to the Mecklenburg County Commission to place the issue on the November ballot. At that point, taxpayers will be asked to allow for a one-cent sales tax increase to fund future transportation projects. The establishment of an authority to manage those funds will be incorporated at a later time.
   
   Other topics discussed included the following:
• Disaster relief for Western North Carolina - The State of North Carolina has more than $5 billion in its rainy-day fund, but the needs, when all is said and done, will likely exceed $60 billion.
• Crime- Legislators are working with local police departments and others as they consider legislation aimed at preventing pretrial release for some violent offenders.
• Budget - The Senate will initiate the budget during this cycle and the changes the legislature has made in tax policy over the past decade have made a big difference in our ability to attract new businesses and grow the economy.
• Higher Education - Legislators discussed the importance of higher education and acknowledged the elevation of UNC Charlotte to a premier national research institution.
2. Congressman Tim Moore Provides a DC Update to REBIC Members
   Tim Moore, former North Carolina House Speaker and now US Congressman from the 14th District, visited us to discuss his latest efforts. First, he shared his work to ensure that appropriate federal resources are directed toward Western North Carolina storm victims as effectively and efficiently as possible. Next, he discussed his work on the Finance Services Committee and the Budget Committee as Congress gears up to preserve the tax relief measures put in place several years ago. He also shared information on the cost-cutting measures implemented at the federal level.
   
   Immediately following this event, we were lucky enough to escort him to the podcast booth, where he recorded an episode of “Getting Real with Rob.” We will announce the release date soon!

Originally published on February 20, 2025, by Bergin Fisniku for Elliott Davis.

At the beginning of February, President Trump outlined his tax priorities in a meeting with Republican lawmakers, revealing a few new proposals not previously mentioned on the campaign trail. One notable item on his agenda is the push to end the so-called “carried interest loophole.”

The Real Estate and Building Industry Coalition (REBIC) wishes to applaud the efforts today of Senators Bill Rabon, David Craven, and Vickie Sawyer for filing Senate Bill 145, Mecklenburg Transportation Referendum. This legislation, which REBIC strongly supports in conjunction with our partners in the business community and throughout Mecklenburg County, is an important financing tool that will enable our community to address the transportation infrastructure challenges arising from the 100 people a day moving here as we continue to be one of the most attractive regions in the nation in which to live and do business.

Leadership within our county, city, and towns continue to face budget shortfalls when trying to keep up with rapidly expanding transportation needs. The real estate industry recognizes this and knows that the solutions provided in S.B. 145 will enable continued growth and prosperity by providing an opportunity for local decision-makers to invest in transportation solutions. Without solving our infrastructure challenges, our region will continue to be constrained in our ability to provide people with mobility choices, and provide for the movement of goods and services in the most efficient and cost-effective manner possible. This investment will literally pave the way to continued opportunity and growth with direct funding for more road infrastructure and a comprehensive mobility solution for all of Mecklenburg County.

Originally published on February 2025 by Moore & Van Allen.

NAIOP Charlotte Member and Moore & Van Allen's Head of Environmental, Mary Katherine Stukes, was named to the 2025 Lawdragon 500 Leading Environmental Lawyers – The Green 500 guide.

Join Us on Our Rescheduled Dates!

Due to inclement weather concerns, the NAIOP NC Conference on February 20-21 has been postponed. Above all, the safety of our event attendees remains our top priority.

The conference will be moved to March 4-6, 2025 (optional networking on the 4th, sessions on the 5th, and check-out on the 6th). We recognize that this timing coincides with other industry events and have coordinated with relevant groups to notify them of the change.

[In early February] NAIOP members from the U.S. and Canada attended NAIOP’s Chapter Leadership and Legislative Retreat (CL&LR) in Washington, D.C., with U.S. members scheduling meetings with their senators and representatives to educate elected officials on the issues important to the commercial real estate industry. Our annual CL&LR is an important event and is the kickoff to what is certain to be a consequential year for commercial real estate in terms of federal legislation. Just as important as the substance of the issues that will be at the center of the discussion during NAIOP’s Capitol Hill meetings are the relationships that exist and are fostered between elected representatives and their local NAIOP constituencies. The message coming from NAIOP members who are also constituents tends to leave a lasting impression on elected officials and their staff.

Originally published on January 27, 2025, by Moore & Van Allen.

NAIOP Charlotte Member and Moore & Van Allen's Head of Environmental, Mary Katherine Stukes, was selected for the Charlotte Business Journal’s 2025 Women in Business Awards program.

The NAIOP Research Foundation has published the annual Economic Impacts of Commercial Real Estate, 2025 U.S. Edition, research study. The combined economic contributions of new commercial building development and the operations of existing commercial buildings in 2024 resulted in direct expenditures of $898.5 billion and the following impacts on the U.S. economy:

• Contributed $2.5 trillion to U.S. GDP.
• Generated $862.5 billion in personal earnings.
• Supported a total of 14.2 million jobs.

Other highlights from the report:

• Each $1 of construction spending generated a total value of $2.95 for the economy, reflecting the cumulative effects of the initial construction expenditures as they cycle.
• The U.S. Census Bureau estimates that private data centers represented 28.7% of office construction value in 2024, an increase from 19.7% in 2023. This is the first year the organization has separated data center construction from financial and general office construction.
• Industrial (manufacturing) and warehousing starts are down but still significantly above pre-pandemic levels. Much of the new online construction can be attributed to recent reshoring efforts in the U.S., including the CHIPS Act and Inflation Reduction Act.
• Demand for retail space in 2024 remained strong and shifted toward smaller, more creative spaces. Successful retailers offered experiential shopping with a more personalized touch or other activities, such as dining, for consumers to engage in between shopping. While larger department stores struggled, retail as a whole proved resilient.
• Some cities have experienced a larger recovery in office attendance than others. New York, for example, reached 82% utilization as of October 2024 and 91% for top-tier office buildings, indicative of a shift in demand to high-quality office properties. See data by State.

Download the Report

With less than a month to go, the 2025 NC Conference promises to be a pivotal event for over 400 CRE professionals eager to advance their careers and expand their networks.

Don't miss your chance to hear from esteemed industry leaders in Sports & Entertainment, including:

Originally published on January 15, 2025, by Toby Burke for NAIOP.

State lawmakers have started to return to their respective state capitols to begin the lawmaking process following the 2024 election. While the election resulted in a few political control shifts in some chambers between Republicans and Democrats, the “status quo” was essentially maintained according to the National Conference of State Legislatures. This would imply a more predictable and business-as-usual session within state capitols on the issues with one exception: the return of President-elect Trump to Washington, D.C.

Originally published on January 9, 2025, by Maria Gatea for NAIOP.

Self-storage construction has been on an upward trend since 2020 as the sector has become increasingly popular with American consumers, offering flexible solutions for life’s many transitions. While new construction has dominated the industry for decades, a significant shift is occurring: Existing industrial and retail buildings are being converted into self-storage facilities. This trend is optimizing urban real estate and meeting the growing demand for storage in densely populated areas.

Originally published on January 6, 2025, by Ed Finkel for NAIOP.

The fortunes of the commercial real estate sector should be somewhere between status quo and modestly improved over the next year, with housing, industrial, data center, and advanced manufacturing among the most dynamic asset classes, according to a cross-section of developers and investors who sit on NAIOP’s board of directors.

2025 Cornerstone Sponsorship Info

NAIOP Charlotte has a strong and active membership comprised of commercial developers, owners, brokers, bankers, architects, engineers, attorneys, and title companies working to advance all commercial real estate sectors.

The Cornerstone Sponsorship supports and enriches the Charlotte Chapter while offering professionals and organizations an opportunity to build and strengthen relationships, increase brand visibility, attend key industry events, and have an active voice in Charlotte’s commercial real estate activities.

Cornerstone Sponsorship Program

It's time to renew your membership for 2025 to stay connected to NAIOP's extensive resources and North American network.

NAIOP is always working for our members' success.

Theresa Burnett
Executive Officer for CRCBR & NAIOP
REBIC Board Member

We are proud to feature Theresa as our first Member Spotlight for 2025. She plays a vital role in Charlotte’s commercial real estate community and holds multiple leadership positions. She serves as Executive Vice President of the Charlotte Region Commercial Board of REALTORS® (CRCBR) and Executive Director of NAIOP Charlotte, the commercial development association. A strong advocate for collaboration, Theresa believes the best industry representation comes from working toward shared goals.

She recognizes commercial real estate's pivotal role in shaping Charlotte into a thriving place to live and do business and that REBIC’s advocacy and resources fuel growth across all sectors. As the organizations she represents flourish, so do the communities they serve, creating vibrant spaces to live and work. Theresa also emphasizes the importance of staying engaged with public policy and building relationships with elected officials to help align community and business interests.

Full Spotlight

On December 4, 2024, NAIOP Charlotte hosted the Annual Meeting: Navigating the Horizon in 2025. The panel peeked into the future of Charlotte's commercial real estate landscape as we explored the public policy shifts, legislative changes, and evolving business practices poised to shape the industry. Below are resources to dive deeper into the discussions.

• 2024 Midyear NFP P&C Client Claims Journal and Trend Report: https://www.nfp.com/media/l0spiupg/h1-trndclms-24.pdf 
• MVA article on PFAS designation: https://www.reuters.com/legal/legalindustry/implications-pfas-cercla-liability-commercial-real-estate-industry-2024-06-17/
• MVA article on wetlands: https://today.westlaw.com/Document/I0eb92c79379711ee8921fbef1a541940/View/FullText.html?transitionType=Default&contextData=(sc.Default)&VR=3.0&RS=cblt1.0&firstPage=true
• Information page re: Charlotte Water interbasin transfer request: https://www.charlottenc.gov/water/DevelopmentBusiness/Charlotte-Water-IBT
• Brownfields tax incentive information: https://www.deq.nc.gov/about/divisions/waste-management/brownfields-redevelopment-section/program-information/tax-incentives
• EPA's PFAS Enforcement Discretion and Settlement Policy Under CERCLA: https://www.epa.gov/enforcement/pfas-enforcement-discretion-and-settlement-policy-under-cercla
• Tax Policy Post Election - Preparing for the Trump Administration's Tax Policy Plans: A Sector-by-Sector Guide
• Basel III Endgame  - Federal Reserve Dials Back Basel III Endgame Regulation – Market Share
• Adaptive Reuse Introduced Legislation - Bipartisan Property Conversion Incentive Legislation Introduced – Market Share

ESG Reporting Requirements

• SEC – Insights | Elliott Davis | Aligning with SEC Climate Regulations: A Strategic Approach
• California's Impact on North Carolina Businesses - Insights | Elliott Davis | What SB 253 and SB 261 Mean for Your Company's Sustainability Goals

Originally published on December 16, 2024, by Daniel Maldonado for NAIOP.

As we approach the end of 2024, the life sciences space is undergoing a noteworthy transformation. After a sharp post-COVID-19 downturn for the sector, there is a significant revival in venture capital activity, strategic landlord adaptations, and evolving market dynamics on the horizon that may shape the future of life sciences real estate for the better.

Originally published on December 18, 2024, by Aquiles Suarez for NAIOP.

Congress is expected to close the year this week by agreeing to pass a continuing budget resolution to avoid a government shutdown before Christmas. That will push the funding debate to at least March 2025, when NAIOP will again advocate for its members in the biggest tax reform fight of the last decade. But a strong year for advocacy in 2024 prepares us well for the future.