The Forces Shaping Office Space Demand Webinar

Posted on November 26, 2019

Get the inside track on upcoming opportunities in the office sector in this member-only webinar on Dec. 17, 2-3 p.m. EST. This webinar will provide insights and data from the latest NAIOP Office Space Demand Forecast, and identify linkages between overall economic activity and the demand for office real estate.

Learn More & Register Here

New Report: Office Leasing Activity to Sustain Momentum as US Economic Expansion Continues

Posted on December 6, 2019

The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2019.

Key Takeaways:

  • The U.S. office market continues to perform as expected, with an average of 14.7 million square feet absorbed per quarter in 2019.
     
  • The forecast for the remainder of 2019 and 2020 remains strong at an average of 13.2 million square feet absorbed per quarter in 2020 and 12.7 million square feet per quarter in 2021.
     
  • At present, the economy – and thus the office markets – are expected to remain in an upcycle for at least the next 18 months.
     
  • The effects of the WeWork situation are likely to be isolated to a small set of markets and will not broadly impact the national office market. The company's inability to expand may generate more demand for direct leases in some markets, but overall, coworking appears to be a long-term trend, and the forecast will likely resist any short-term impacts caused by WeWork's recent troubles.

Firms might slow their expansion plans in 2020, reducing the need for new office space, in reaction to overall fears of a slowdown. Still, most measures of consumer health, including wage growth, job growth and consumption expenditures, remain strong.

View the Report

The Suburban Office Park, an Aging Relic, Seeks a Comeback

Posted on November 25, 2019

By 

When Research Triangle Park in North Carolina opened in 1959, its bucolic setting was considered a major selling point. With office buildings hidden behind grassy meadows and swaths of pine forest, the quiet development was viewed as a perfect spot for the thinkers who went to work at companies like IBM and RTI International.

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City of Charlotte Upcoming Stakeholder and Committee Meetings

Posted on November 22, 2019

DEVELOPMENT SERVICES TECHNICAL ADVISORY (DSTAC) COMMITTEE: Meetings are held on the fourth Wednesday of each month on the 8th floor in Planning's Innovation Station, Charlotte Mecklenburg Government Center (600 East Fourth Street, Charlotte, NC) from 1:00 pm to 2:30 pm.

STORM WATER ADVISORY COMMISSION (SWAC) MEETING: Meetings are typically held on the third Thursday of each month at 4:30 pm at the Mecklenburg County Offices at 2145 Suttle Avenue, Charlotte, NC.

TREE ADVISORY COMMISSION: Meetings are typically held on the third Tuesday of every month at the Charlotte Mecklenburg Government Center (600 East Fourth Street, Charlotte, NC) beginning at 5:00 pm.

Terrorism Risk Insurance Program Clears Key House Committee

Posted on November 18, 2019

Last week, the House Committee on Financial Services unanimously (57-0) passed a bipartisan bill that would extend the Terrorism Risk Insurance Program (TRIA) for seven years. The reauthorization of TRIA the can now move to the floor of the full House of Representatives.

The bill, H.R. 4634, would also require a study on the cyberterrorism market and expand an ongoing study to determine the availability and affordability of TRIA coverage for places of worship. In the Senate, Republican Thom Tillis of North Carolina is reportedly working to introduce a reauthorization bill as well. The current bill expires next year.

In order to guarantee that insurance coverage would be available for the commercial real estate industry, Congress first passed the Terrorism Risk Insurance Act of 2002. It created a federal reinsurance backstop program for terrorism insurance, and mandated that insurers make terrorism coverage available along with their property and casualty lines of insurance. Congress has already extended TRIA three times.

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New: Fall 2019 Sentiment Index

Posted on November 15, 2019

About The NAIOP CRE Sentiment Index

The NAIOP Sentiment Index is designed to predict general conditions in the commercial real estate industry over the next 12 months. The forecast is not based on an analysis of historical data, but rather it represents a look into the future by real estate developers, investors, operators and brokers. These NAIOP members are asked to respond to questions based on their ongoing work, including projects in their pipelines. For more information, see Understanding the Index.

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Retail is Alive and Well. It Just Looks Different.

Posted on November 14, 2019

By Trey Barrineau

Retail apocalypse? What retail apocalypse?

Yes, there have been significant changes in the retail space in recent years, said Amy Sands, managing director with JLL during “The Latest Trends in Retail,” a panel discussion at CRE.Converge 2019 in Los Angeles. However, she said “apocalypse” is an overblown term for what might properly be called “an experiential revolution.”

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Despite a Cannabis Boom, Real Estate and Banking Challenges Remain

Posted on November 13, 2019

By Jonathan Havens and Anamika Roy

Conflicting local and federal laws, along with NIMBYism, could be slowing investment in marijuana-related facilities.

At last count, 33 states have authorized cannabis for medical use, with 11 also permitting recreational use. Recent public opinion surveys suggest historically high support for continued and expanded cannabis access. For example, a March 2019 Quinnipiac University poll found that American voters believe, almost two to one, that “the use of [all] marijuana should be made legal in the U.S.” Support for medical access comes in even higher, at more than 18 to one, if a doctor recommends it.

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Webinar Nov. 19: Legislative and Political Update

Posted on November 12, 2019

The Advantage Series is an exclusive member benefit, delivering expert insights into the latest research to help you make informed business decisions.

This webinar will provide members with an update on federal legislative activity and executive agency actions affecting the commercial real estate industry, with a specific focus on NAIOP’s top public policy and legislative priorities.  Aquiles Suarez, NAIOP’s vice president for government affairs, and Alex Ford, NAIOP director of federal affairs, will discuss issues including tax legislation, infrastructure, environmental issues and federal regulatory matters.  Attendees can pose questions regarding federal issues affecting their business and gain insights to prepare them for any future regulatory or legislative challenges.

Register Now

2019 REBIC Voter Guide

Posted on October 31, 2019

The Real Estate & Building Industry Coalition (REBIC) has published their 2019 Voter Guide for the General Elections of Mecklenburg and Iredell Counties.  You can access the Voter Guide on REBIC's blog "The Loop" and here.

Charlotte Sign & Tree Ordinance Updates Approved

Posted on October 29, 2019

On October 21 Charlotte City Council voted to approve updates to the sign and tree ordinances. Most importantly, the updated tree ordinance allows for more flexibility for developers on urban sites in the City, which is less than 5% of Charlotte’s total developable land.

REBIC sent a letter to the Council urging their support, and we would like to thank those who voted in the affirmative: Mayor Pro Tem Julie Eiselt, Councilman Braxton Winston, Councilman James Mitchell, Councilman Larken Egleston, Councilman Greg Phipps, Councilwoman LaWana Mayfield, Councilman Justin Harlow, Councilman Tariq Bokhari and Councilman Ed Driggs. We would also like to thank Mayor Vi Lyles for her leadership and ability to support council through contentious discussions in a judicious manner.

Thank you to our members who personally reached out to Council Members as well!

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Surveys Provide Opportunity to Give Feedback to Planning Staff

Posted on October 25, 2019

City of Charlotte Development Center Customer

The City of Charlotte Development Center is committed to continuous improvement in order to be the best partner with our customers to efficiently, effectively and collaboratively build a safe and thriving community.

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www.surveygizmo.com

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2020 NAIOP Charlotte Cornerstone Sponsorships are Available!

The Cornerstone Sponsorship program offers professionals and organizations an opportunity to participate in, and get more out of, our chapter activities and services. The Cornerstone Sponsorship program is an excellent way to gain visibility while supporting the commercial real estate industry in Charlotte. 

Cornerstone Sponsors are allowed to customize your benefits based on the exposure you desire.

Learn More or Commit Today

Tree Ordinance Text Amendment Passes

Posted on October 22, 2019

Last night (10/21) Charlotte City Council voted to approve updates to the sign and tree ordinances. NAIOP Charlotte supported the proposed text amendments to the Tree Ordinance below:

On behalf of the hundreds of commercial real estate developers and industry service providers represented by NAIOP Charlotte, we request your support of the proposed amendment to the City’s Tree Ordinance Amendment at the City Council business meeting on Monday, October 21st.

Petition #2019‐104 seeks to codify flexibility, better integrate trees into urban sites, and will result in no net loss of ordinance required trees. It incentivizes urban development and redevelopment to plant trees on site, compared with the current practice of payment in lieu which pushes our canopy out of urban areas where benefits from sustainable practices can be leveraged. It places trees in areas where people want to congregate, socialize, and enjoy open space. Current requirements are restrictive of where trees can be located. 

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Making Multistory Industrial Work

Posted on October 10, 2019

By Kathryn Hamilton

E-commerce is driving growth in neighborhoods where malls used to stand tall, and multistory is the name of the game in industrial development today. In Brooklyn, an 18-acre site in the Red Hook district will be the future home to a four-story, 1.3-million-square-foot distribution center – the largest multistory warehouse in the U.S. It’s groundbreaking in its scope and design, but not without its own issues. So what are the challenges with multistory and how can developers make it work? A panel at NAIOP’s I.CON East 2019 sought to answer the tough questions.

Leslie Lanne, managing director with JLL, said the primary driver behind multistory is getting as close as possible to the consumer base. This proximity is more than just mileage – it’s the time it takes to get the goods to the consumer. For example, a warehouse in New Jersey is located only five miles from Brooklyn, but it can be tough to achieve a trip from the warehouse to consumers and back in less than two hours.

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Welcome New NAIOP Charlotte Members

Posted on October 8, 2019

We are proud to introduce our new association members! The following is a list of individuals who have joined NAIOP Charlotte since April 22, 2019:

  • Blake Bickmore, Crescent Communities LLC
  • Nathaniel Buhler, Cambridge Properties, Inc.
  • John Core, Beacon Partners
  • Dave Dabson, Beacon Partners
  • Thomas Efthimiades, Childress Klein
  • Chad Frye, Graycor Construction
  • Madelyn Furr, ECS Southeast, LLP
  • Andrew Geuss, Builtech Services, LLC
  • Paxton Hollar, SunCap Property Group
  • Greg Icenhour, Mid-Atlantic Associates, Inc.
  • Robert Jeffway, The Fallon Company
  • William Joslin, McMillan Pazdan Smith Architecture
  • Corey Knuckles, LaBella Associates P.C.
  • Dan Mainous, BB&T
  • Derek Mathis, SunCap Property Group
  • Christopher McCain, Entinu Communications LLC
  • Chris Morgan, Walbridge
  • Rob Nanfelt, REBIC
  • Grant Oldenburg, UNC Charlotte Real Estate Club
  • Ross Pope, KDC Real Estate Development & Investments
  • Kenny Sommerkamp, Metrolina Builders
  • Seth Spears, Batson-Cook Construction
  • Madison Stewart, Builtech Services, LLC
  • Evan Synstad, Gilbane Building Company
  • Heidi Team, Batson-Cook Construction
  • David Truesdale, Choate Construction Company
  • Mike Tulini, Encompass Building Group
  • Tony Wilk, Builtech Services, LLC
  • Matt Williams, Metrolina Builders
  • Edward Wolynec, Clarion Partners
  • Kate Zawacki, Grandbridge Real Estate Capital, LLC

New Report: The Evolution of Suburban Office Parks

Posted on October 7, 2019

The NAIOP Research Foundation has published a new report titled "Profiles in the Evolution of Suburban Office Parks," by Dustin C. Read, Ph.D./J.D.

The author interviewed five developers who have recently updated suburban office parks in the United States and Canada to learn how they made these properties relevant for today's market.

Key Takeaways:

  • Redeveloped office parks must fit the preferences of the local workforce and the needs of local employers.
  • Developers should seek to understand local officials' priorities.
  • Developers should build flexibility into their plans and partner with creditors who understand that they may need to adapt to unforeseen circumstances.
  • Developers can maximize the value of their improvements by leveraging design, technology and amenities to develop a property's identity and build community.
  • Rebranding is often a critical component of a successful redevelopment strategy.
 Read the Report.

TONIGHT: CLT Development Center Brainstorming Session – The Customer Experience

Posted on October 4, 2019

Friday, October 4th

1:00 - 2:30 p.m.

CMGC 8th Floor - Planning Innovation Center

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Solving the Construction Worker Shortage Puzzle

Posted on October 1, 2019

By Shawn Moura

In recent years, builders have faced a shortage of workers that has only grown more acute amid increasing demand for construction and record-low unemployment. Many of the 2.2 million construction workers who lost their jobs during the last recession either retired or found employment in other industries. At the same time, fewer new workers are taking their place because millennials are less attracted to careers in construction than past generations. Workers under the age of 25 make up only 9.0% of the construction workforce in the United States versus 12.3% of the nation’s overall workforce, according to data from the Bureau of Labor Statistics.

A report published by the NAIOP Research Foundation in July , “Addressing the Workforce Skills Gap in Construction and CRE-related Trades,” examines how employers are partnering with local communities in innovative training and recruitment programs to boost the supply of skilled construction workers in both urban and rural areas.

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Profiles in the Evolution of Suburban Office Parks

Posted on September 22, 2019

By Dustin Read

The NAIOP Research Foundation has published a new report titled "Profiles in the Evolution of Suburban Office Parks," by Dustin C. Read, Ph.D./J.D.

The author interviewed five developers who have recently updated suburban office parks in the United States and Canada to learn how they made these properties relevant for today's market.

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