Originally published by Phil Jelsma for Commerical Property Executive
The coronavirus outbreak has prompted multiple deadline extensions by the Internal Revenue Service, many of which have major implications for commercial real estate investors.
The COVID-19 pandemic is changing many aspects of how we live, move about our cities, and get essential physical activity. The City of Charlotte is launching Charlotte Shared Streets to support social distancing and pedestrian/bicycle safety amidst this new way of life. Shared Streets is intended to support outdoor exercise; create a safer environment for people walking, wheelchair rolling, biking, skateboarding, and rollerblading; and promote physical distancing of at least 6 feet by identifying low-speed neighborhood streets as “Shared Streets.”
Shared Streets are streets that are temporarily designated and signed as streets for walking, wheelchair rolling, biking, skateboarding, and rollerblading. Through traffic will not be permitted, but emergency vehicles, delivery vehicles, and residents who live on those streets will still be able to access the roads by motor vehicle. Residents should understand that the SHARED streets do not present an opportunity for residents to congregate and that they should continue following social distancing guidelines. Shared Streets are meant to foster solo physical activity and to connect people to destinations. This is a time to bring out the longboard, not the hammock.
The CLT Development Center continues to maintain plan review, permitting, and field inspections as allowed by the stay-at-home order. For the last weeks, we continue to make modifications to the ways we deliver services to protect customers, staff, and the community.
Requests and scheduling for virtual meetings for urban and commercial pre-submittals continue to be offered. Please contact Nan Peterson, Business Relation Manager, [email protected], or 980-264-9580 with questions or inquiries.
NAIOP is proud to honor up-and-coming commercial real estate professionals, 35 years of age and under, for their valued contributions and commitment to the industry with the annual Developing Leaders Award. The award is presented to those who have shown exemplary achievements and demonstrated outstanding professional accomplishments in the commercial real estate industry.
Nominations are now being accepted for the 2020 NAIOP Developing Leaders Award.
Deadline: June 26, 2020
Last week, the White House issued an outline containing a three-phase approach for states to follow as they move to restart activities following the coronavirus pandemic. Before a state moves forward, the administration said it should be seeing a downward trajectory of influenza-like illnesses and COVID-like syndromic cases reported over two weeks.
As states reopen, the plan recommends they have plans to:
Originally published in the Spring 2020 Issue by Trey Barrineau
In October 2019, Amazon announced that it will begin offering free two-hour grocery delivery to Amazon Prime members. The move could have a dramatic impact on demand for cold storage facilities, which were already poised for strong growth amid changing consumer preferences.
Originally published on May 5, 2020 by Rich Tucker
At the beginning of the year, nobody predicted the economic slowdown caused by the coronavirus pandemic. On March 1, the economy seemed to be thriving with record-low unemployment and a booming stock market. Two months later, the economy is in a deep freeze, and everyone wonders how quickly, and how thoroughly, it can thaw out.
Grab your lunch and join this Lunch with a Leader virtually. During this webinar, hear an update on economic development for our region. Learn about how the CLT Alliance is working to keep interest in our region for future commercial development. You are invited to submit questions in advance here.
A seasoned regional economic development leader with strong communications, strategy and operations skills, LaBar was selected to lead the Charlotte Regional Business Alliance following a four-month national search.Originally published on April 28, 2020 by Mecklenburg County
Mecklenburg County, the City of Charlotte and the six county towns, have agreed to follow the State of North Carolina's Stay at Home Order starting April 30.
Mecklenburg County Manager Dena R. Diorio announced the agreement to the Board of County Commissioners at its public policy meeting Tuesday afternoon, one day before the county's current order was set to expire.
"The unified coalition of the County, the City, and the towns that began working together when this crisis started will stay together," said Diorio. "We have agreed to proceed like the rest of the state as the phased reopening proceeds."
Mecklenburg's Stay at Home Order began March 26 and is more restrictive than the state order regarding certain businesses—including car dealerships, landscaping services, real estate brokerage, and other businesses not considered essential.
Originally published on April 14, 2020 by Marc Rapport for MillionAcres.com
The coronavirus pandemic has wreaked havoc on Americans' health and on their businesses. April 1 marked the first major due date for rent for millions of enterprises large and small, and reports from around the nation show that many simply couldn't make do.
Originally published in April 2020 by Marcus & Millichap
Section 1031 of the Internal Revenue Code enables real estate investors to defer capital gains on income-producing property when those gains are used to acquire a like-kind investment. Colloquially, a 1031 exchange is the transaction in which an investment property is liquidated and the proceeds from the sale, including capital gains, are used to acquire additional income-producing property or properties. For the exchange to meet IRS standards, buyers have 45 days from the initial sale to identify a replacement property of equal or greater value and 180 days to acquire that asset.
A Forums favorite is back: Economist Mark Dotzour, Ph.D., will talk exclusively with the National Forums to illustrate how the CRE industry and global economies will emerge from the pandemic. Dotzour sees today’s environment as a blend of national unity from the age of World War II, the immediate lifestyle changes that followed 9/11, and the financial catastrophe of 2008. He’ll take on the big topics on everyone’s mind: Will this be another jobless recovery? Are the stimulus packages enough? Where are interest and cap rates headed? And what does all of it mean for commercial real estate?
Submit your questions early and login to the call ready to take a journey as Dotzour synthesizes global, social and economic trends and provides you a tool kit of factual information to help you make sound investment and business decisions moving forward.
The House and Senate aren’t scheduled to reconvene until early May; however, lawmakers are negotiating at a distance to reach an agreement to provide more funding for the Paycheck Protection Program (PPP).
Their tentative deal would invest another $310 billion into the program, with $60 billion allocated specifically for rural and minority groups and $60 billion for the Economic Injury Disaster Loan program. The agreement would also add $75 billion for hospitals and $25 billion for testing, for a total of $470 billion in additional spending.
PPP is a loan program ran through the Small Business Administration. It ran through its initial $349 billion last week after just two weeks of making loans. NAIOP and its allies in the real estate community-supported PPP and the law that created it, the $2.3 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted last month to help the economy survive the coronavirus shutdown.
Even with no in-person events on your schedule, you can continue to build professional relationships right now – you may just need to think creatively during this unusual time.
In a recent NAIOP Advantage Series webinar, networking strategist Lori Saitz, CEO and founder of Zen Rabbit, shared ideas for making meaningful professional connections, whether you are looking to touch base with people you’ve met in the past or would like to expand your network to reach new customers.
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.
Uninterrupted Membership Guarantee: We've Got You Covered
Originally published by Heath Abramsohn in the Spring 2020 Issue
The Rockefeller Group Logistics Center in Piscataway, New Jersey, opened in October 2019. It marked the culmination of four years of collaboration between Piscataway Township, Middlesex County and the companies involved with the project. With five buildings totaling 2.1 million square feet across 228 acres, the effort transformed a former brownfield site into a productive asset that should create more than 1,500 permanent jobs.
You read that right – all on-demand courses are absolutely free for NAIOP members through June 1st.
With so many of us working from home, now is a great time to add to your professional skill set or explore an emerging new product type (like cold storage or real estate as a service, for example).
I want to take a moment to reach out to see how you are doing. During these challenging times, I want you to consider NAIOP Charlotte as part of your team, helping each other get through things together.
