Banking, Tech Employment Usher Charlotte’s Office Market Into the Future

The momentum of the Charlotte office market continued in the first quarter of 2019, as office rents rose for an eighth consecutive quarter and the city notched a major economic development win with the announcement that BB&T and SunTrust would merge, creating a new bank that will be headquartered in Charlotte. The news came on the heels of announcements late last year that Honeywell plans to relocate its corporate headquarters to the city and that LendingTree would expand its headquarters, …

August 20, 2019Market Reports, North Carolina, Office, Southeast, Southeast Market Reports

Charlotte’s Industrial Market Is in Aggressive Expansion Mode

Charlotte has been in expansion mode for several years, due to population growth, excellent logistics infrastructure, low operating costs and low unionization rates. At the mid-point of 2019, the market continues to expand at a healthy rate and is growing outward into Cabarrus, York and Gaston counties. This expansion follows a strong 12-month period ending first-quarter 2019 when nearly 6 million square feet of new product was delivered. Now encompassing 322 million square feet of space, …

August 19, 2019Industrial, Market Reports, North Carolina, Southeast, Southeast Market Reports

Charlotte’s Industrial Fundamentals Stay Strong in Face of New Supply Added

Charlotte’s industrial market continues to see strong momentum in early 2019, and with healthy rates of absorption and rental growth despite record levels of new development, it remains the preferred asset class in the Queen City among institutional investors. Industrial absorption totaled 5.2 million square feet in 2018, according to JLL research, making it the fourth consecutive year that the market has absorbed at least 4 million square feet. The demand for new space is driven in part by …

June 3, 2019Industrial, Market Reports, North Carolina, Southeast, Southeast Market Reports

Raleigh-Durham’s Retail Market Reaches Healthy Supply-Demand Balance

The Raleigh and overall Triangle retail markets ended 2018 in a strong position with several large sites changing hands, urban growth booming in the downtowns, numerous suburban ground-up projects in the pipeline and traditional malls undergoing major transitions. The market is poised to see retail construction activity grow with a healthy balance of supply and demand, despite national brick-and-mortar retail industry challenges. The Triangle vacancy rate ended the year with a vacancy rate …

March 25, 2019Market Reports, North Carolina, Retail, Southeast, Southeast Market Reports

High Demand, Barriers to Entry Push Raleigh-Durham’s Industrial Rental Rates

The Raleigh-Durham industrial/flex market, totaling approximately 135 million square feet, continues to be strong with overall positive absorption. Absorption for industrial totaled 1.6 million square feet and flex was over 3 million square feet for 2018. Vacancy is trending lower, helping make the region a landlord and seller’s market. [caption id="attachment_225525" align="alignright" width="100"] Ed Brown, SIOR, CCIM, Broker, NAI Carolantic Realty[/caption] With increasing …

March 18, 2019Industrial, Market Reports, North Carolina, Southeast, Southeast Market Reports

Is Raleigh’s Multifamily Market Still a Strong Investment?

The short answer: absolutely. You don’t need to be a savvy commercial real estate professional to notice the impact multifamily has on Raleigh’s urban landscape. Areas like North Hills/Midtown, Downtown and Hillsborough Street are typically at the forefront of everyone’s mind when they think of new Raleigh developments, but it’s not just Class A development in the city’s urban core that has seen a boom. Class B and C suburban product have seen the most significant rent …

March 5, 2019Market Reports, Multifamily, North Carolina, Southeast, Southeast Market Reports

Raleigh-Durham’s Strong Job Growth Lifts Office Fundamentals, Investment Sales

The Raleigh-Durham region’s continued strong job growth is fueling sustained demand from tenants, keeping the office market firmly in favor of landlords despite a notable increase in construction activity in recent months. The region added 26,500 jobs between October 2017 and October 2018 for a growth rate of 3 percent. Unemployment fell from 3.8 percent to just 3.0 percent during this time, hitting its lowest level since 2000. Despite not making the final cut for massive headquarters …

February 25, 2019Market Reports, North Carolina, Office, Southeast, Southeast Market Reports

Strong Tenant Demand Propels New Office Developments Underway in Charlotte

With 3.2 million square feet of new office space under construction, much of it in the city’s urban core, Charlotte’s skyline is in the midst of a significant transformation. Due to strong preleasing activity and solid economic underpinnings, however, the city’s office vacancy rate is projected to remain stable over the coming months as many of those projects deliver. Approximately 60 percent of Charlotte’s construction pipeline has been preleased, according to JLL research, and 2.3 …

February 18, 2019Market Reports, North Carolina, Office, Southeast, Southeast Market Reports

Tech, Co-Working Shine in Raleigh-Durham’s Downtown Submarkets

The question today for office tenants and investors is not why Raleigh-Durham, but why not. The Raleigh-Durham market is defined by continued job growth and a thriving technology sector. The Triangle is enjoying significant rent growth, strong absorption and major construction that now has a Downtown Raleigh and a Downtown Durham. Raleigh-Durham’s overall growth continues and was recently ranked No. 1 in the Southeast in projected population growth, posting a 10.3 percent growth rate from …

December 9, 2018Market Reports, North Carolina, Office, Southeast, Southeast Market Reports

Charlotte Companies Getting in on Amenities Arms Race to Attract Top Office Users

Companies looking to attract and retain talent are now offering top amenities, a modern office space and a healthy work environment with a sense of community. Employees are a company’s most vital asset, and firms are willing to pay a higher rate for office space if it provides a place that employees want to work. One of the trends this year in commercial office space is enhancing the work environment. According to a recent Pew Research Center analysis, millennials have become the largest …

August 20, 2018Market Reports, North Carolina, Office, Southeast, Southeast Market Reports