The City of Concord is updating their UDO – Read more

Kannapolis is updating their UDO – Read more

The registration deadline is January 27

The deadline to register as a Mentee and have the opportunity to meet one-on-one with CRE industry leaders is next Wednesday! Register today to take advantage of this exclusive opportunity to make important connections and benefit from the knowledge, guidance, and ideas shared by our program mentors.

This year's program features 80+ available sessions (and counting!).

Your NAIOP membership must be renewed by the end of January otherwise you will be removed from the program.

Meet Our Mentors!

Originally published by Brielle Scott on January 12, 2021, for NAIOP.org.

In a recent webinar, the authors of the NAIOP Office Space Demand Forecast provided insights and data from the latest report covering the fourth quarter of 2020, including overall economic trends and factors influencing demand, and their predictions for when the office sector could recover in the wake of the COVID-19 pandemic.

The prior economic expansion was the longest on record; job growth was strong, income growth had been accelerating since 2017, and recent tax laws provided valuable incentives for the commercial real estate industry, said Tim Savage, Ph.D., report author and clinical assistant professor, NYU SPS Schack Institute of Real Estate.

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Originally published by Linda Strowbridge on January 5, 2021, for NAIOP.org.

In “The Evolution of the Warehouse: Trends in Technology, Design, Development and Delivery,” authors Steve Weikal and James Robert Scott detail the industry advances, consumer trends and emerging technologies that are driving a rapidly growing sector. Although their work at the MIT Real Estate Innovation Lab regularly immerses both Weikal and Scott in the topic, working on the report by the NAIOP Research Foundation exposed them to a striking array of future business opportunities within the warehouse segment.

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Originally published by Cameron M. Trefry, RA, LEED AP for NAIOP's Winter 2020/2021 Issue.

This sector of industrial was booming even before the pandemic, and future demand is expected to soar even higher.

In the age of one-hour package shipments, the infrastructure needed to serve a growing on-demand culture is scrambling to keep up. This has taken on even greater significance amid the COVID-19 pandemic, which forced millions to stay home for months.

According to Coresight Research’s U.S. Online Grocery Survey 2020, online grocery sales are expected to increase by about 40% this year due to the pandemic. That’s after a 22% increase in 2019.
The strong growth in e-commerce is a main reason that the industrial real estate sector is a bright spot in the U.S. economy, as developers and tenants continue to construct millions of square feet of warehouses and logistics centers.

Within the industrial sector is a unique class of buildings that maintain the continuity of the “cold chain,” which is crucial for the integrity of U.S. food and pharmaceutical logistics. While market factors are driving rising demand for cold buildings, there are also practical reasons behind the need for this asset class. The existing cold building stock in the U.S. is becoming antiquated, with an average age of 34 years, according to CBRE research.

Check out a newly added resource page with quick links to the 2040 Comp Plan, UDO, Charlotte Moves, and more. This evolving information will have a dramatic impact on the future of Charlotte’s commercial real estate development. NAIOP Charlotte continues to monitor and inform members about developments in these initiatives and members are encouraged to get involved and provide a voice for commercial real estate as these policies unfold.

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Register today for the opportunity to meet one-on-one with accomplished professionals in the CRE industry through this program that is exclusively for NAIOP Charlotte Developing Leaders. The deadline to register as a Mentee is January 27, 2021.

Your NAIOP membership must be renewed by the end of January otherwise you will be removed from the program.

Meet the Mentors!

Program Timeline:

• January 27, 2021: Deadline to register as a Mentee
• February 2021: The session-booking process will open
• March - June 2021: Meetings with Mentors

• Go to the program website: https://mentoring.naiop.org/B5CEkQt7
• In the menu at the top of the page, click MENTEE REGISTRATION FORM
• Enter the email address to which this message has been sent
• One of the following will apply to you:
1. If you were a mentee before and your email address is the same, use the password you created before to finish logging in. The "forgot password" feature is available if needed
2. If you were a mentee before but your email address has changed, you will need a new Login - please follow the prompts to register and set a password
3. If you were not a mentee in a previous program, please follow the prompts to register and set a password
• Reminder: Check the box indicating you have read and agree to the Mentee's Terms & Conditions.

• A verification email will be sent to you (security protocol) so please watch your spam folder. It is important to click the link in this verification email to finalize and login for access to your registration form
• Lastly, return to the mentorship site, click MENTEE REGISTRATION FORM again...log in with your email address and password...then you will find your form ready for you to complete

A bipartisan group of senators unveiled details of their coronavirus relief package yesterday, representing lawmakers’ latest push to move an aid bill before year’s end. The proposal is comprised of two separate bills: the first contains roughly $750 billion for education, unemployment benefits, vaccine distribution, and other funds, while the second provides $160 billion in state and local aid, as well as liability protections for businesses. The latter provisions have proven contentious and were frequently cited as key reasons for holding up earlier negotiations. 

Read More.

Originally published NAIOP Fall 2020 Issue by Daniel Pessar.

Recent clarifications didn’t significantly change the law, but investors should be aware of these modifications.

The 2017 Tax Cuts and Jobs Act introduced tax benefits to incentivize investment in specially designated zones (Qualified Opportunity Zones, or QOZs) in all 50 states, the District of Columbia, and five U.S. territories. The Opportunity Zone laws generated buzz because, among other benefits, they allowed qualified projects held for at least 10 years to exclude capital gains upon sale.

After more than two years, it is time to consider the state of the law, the response of the investment community and some of the ways Opportunity Zone investment activity might develop in the years ahead.

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While 2020 didn’t go as planned, it didn’t stop NAIOP Charlotte members from continuing to connect and engage with each other and industry experts in the CRE community. Check out the many highlights from our events this past year. In addition, the Chapter thanked the 2020 Cornerstone Sponsors during an appreciation event and held a special event to welcome new members.

June LWAL: Update from Elected Leadership

During this LWAL, members received updates at the federal and state levels about the current society and commercial real estate development issues and heard the efforts being made to get the economy moving again. Our special guests included: Congressman Dan Bishop, US House 9^th District; Speaker Tim Moore, NC House 111^th District; and Representative Jason Saine, NC House 9thth District. Click here to access the recording.

June LWAL: Economic Development Pipeline

In the middle of June, industry experts provided an update on what our economic development organizations are doing today. Our speakers included: Tracy Dodson, City of Charlotte; Donny Hicks, CEcD, CCIM, Gaston Country Economic Development Corporation; and Robby Carney, Cabarrus Economic Development Corporation. Click here to access the recording.

August Virtual Panel: Are Lenders Lending?

Members and nonmembers engaged with industry leaders discussing the present state of lending and found out where we are in the course of this hurricane. We heard perspectives on the present state of lending in the commercial lending environment from Scott Cook, TD Bank; Anthony Fertitta, JLL; and Brad Smith, Bank of America.

Originally published on December 2, 2020, by NAIOP.

Recruiting and retaining top talent has become essential in today's highly competitive marketplace.

Is your salary and bonus package competitive? Find out with the 2020 NAIOP/CEL Commercial Real Estate Compensation and Benefits Reports.

These valuable reports enable commercial real estate businesses to stay current on salaries, bonuses, and benefits for professionals in executive and entry-level positions. The reports include submissions from over 300 companies; salary, bonus, incentives, and benefits for up to 200 positions; and data from 100,000 distinct jobs in the office/industrial, retail and residential property sectors.

Originally published on November 5, 2020, on Edifice Company News Blog.

Annual Meeting

December 15 | 12:00 PM – 1:00 PM EST

Registration Rates Increase Tuesday, December 8

At this year's Annual Meeting, hear market updates and overviews on CRE in Charlotte from a panel of industry leaders. How is 2020 ending? What is next year shaping up to look like?

Come celebrate this unusual year, connect with friends and colleagues, and elect the 2021 NAIOP Charlotte Board!

Our Panelists

Nate Doolittle LandDesign Phil Kuttner LITTLE

Brendan Pierce Crescent Communities Scott Wilson Childress Klein Properties

Board Nominations

Registration

Register Here

Originally published in REBIC's November 30, 2020 Newsletter.

Join the City of Charlotte on December 8th, 2020 for their next Ambassadors & Strategic Advisors Virtual Meeting. This meeting will further discuss the draft Charlotte Future 2040 Comprehensive Plan. As they enter Phase 4 of the planning process, your voice is more important than ever.

Please use one of the links below to register for one of the meeting times. Both meetings will be the same, but we want to offer two options to fit with your schedule. After registering with your name and email, you will receive a confirmation email containing information about joining the meeting.

MEETING #1

When: December 8, 2020, 11:30 AM Eastern Time (US and Canada)
Click HERE to register in advance for this meeting.

This year’s Annual Meeting will feature a panel of industry leaders providing market updates and overviews on commercial real estate in Charlotte. How are we ending the year? What is 2021 shaping up to look like?

Come wrap up and celebrate this unusual year, elect the 2021 NAIOP Charlotte Board, and connect with friends and colleagues!

Our Panelists

Nate Doolittle LandDesign Phil Kuttner LITTLE

Brendan Pierce Crescent Communities Scott Wilson Childress Klein Properties

Registration

Register Here

Questions

If you have questions, please contact the NAIOP Charlotte office at [email protected].

2021 Developing Leaders Mentorship Program

Registration is now open for the 2021 DL Mentorship Program! This program provides a unique opportunity for personal and professional growth through focused, one-on-one sessions with accomplished professionals in the CRE industry. You may book a session with Mentors in February 2021. Meetings will take place from March through June 2021.

NOTE: Mentors are still being added to the program & updating their profiles

How to Register:

• Go to the program website: https://mentoring.naiop.org/B5CEkQt7
• In the menu at the top of the page, click MENTEE REGISTRATION FORM
• Enter the email address to which this message has been sent
• One of the following will apply to you:
1. If you were a mentee before and your email address is the same, use the password you created before to finish logging in. The "forgot password" feature is available if needed
2. If you were a mentee before but your email address has changed, you will need a new Login – please follow the prompts to register and set a password
3. If you were not a mentee in a previous program, please follow the prompts to register and set a password

If 2 or 3 above applies to you:

• A verification email will be sent to you (security protocol) so please watch your spam folder. It is important to click the link in this verification email to finalize and login for access to your registration form
• Lastly, return to the mentorship site, click MENTEE REGISTRATION FORM again...log in with your email address and password...then you will find your form ready for you to complete

Registration Deadline: January 27, 2021

The mentorship session-booking process will be activated in February 2021.

Mentees and Mentors will be responsible for deciding to meet in person or virtually. Both parties must agree to meet in person. By registering and participating in the 2021 DL Mentorship Program, the participant hereby accepts the terms and conditions in the Participant Liability Waiver. NAIOP Charlotte reserves the right to make necessary changes to the DL Mentorship Program at any time based on national, state, and local COVID restrictions & guidelines.

Originally published on behalf of NAIOP Research Foundation on November 19, 2020. 

Negative Absorption of Office Space Expected to Continue in Short Term, Trend Positive Beginning Q2 2021

The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2020.

Key Takeaways:

• Given the continued challenges facing the U.S. economy, office net absorption is forecast to be negative 18 million square feet in Q4 2020 and negative 10 million square feet in Q1 2021.
   
• Growth in net absorption is forecast to resume in Q2 2021, and the total net absorption over the period from Q2 2021 to Q3 2022 will exceed negative absorption from the recession, resulting in overall gains in absorption over the next two years.
   
• The largest office-using industries have been more insulated from the effects of the pandemic than the economy as a whole, but their shift to remote-work arrangements has diminished demand for office space.
   
• Multiyear lease terms have mitigated the effects of reduced occupancy on vacancy rates, which have risen to 14% in the third quarter. Vacancy rates are likely to continue to rise through the end of 2020 as more leases come up for renewal.

View the full report.

Originally published by Lisa Pendergast in NAIOP's Fall 2020 Issue.

SOFR, the new U.S. dollar replacement rate, differs in crucial ways from its longstanding forerunner.

The London interbank offered rate, or LIBOR, is a critically important number in the world of finance. It is the basis for hundreds of trillions of dollars in contracts around the world. These include everything from complex derivatives to home mortgage loans.

According to calculations from the Federal Reserve, the estimated exposure for U.S. dollar LIBOR alone is approximately $200 trillion. Despite that large number, the underlying transactions that help determine LIBOR are a mere fraction of this amount. The rate is primarily based on submissions by certain banks based on what they estimate they would be charged to borrow from one another.

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