Andrew Jenkins, managing partner of KARNES was featured today on WFAE, Charlotte’s NPR News Source. Mr. Jenkins offered up his firms opinion on Publix’s bid to enter the Charlotte market and compete against Harris Teeter.
Monthly Archives: March 2013
KARNES is providing a free webinar today, March 27th 2013 from 2:00 pm to 2:30 pm. This 30 minute webinar will provide a brief overview of the new SiteIndex iPad app and its many useful features that will allow you to showcase your knowledge of the local commercial real estate market while out in the field.
Limited space is available for this online webinar, register now to reserve your spot. (Open to SiteIndex subscribers only)
This event will be a great opportunity for SiteIndex users to ask general questions, find out more information regarding future system enhancements and upcoming webinar training topics.
Please note that only members listed in the CRCBR directory are allowed to attend this event. Corporate Associate membership is handled on a per person basis, not per company.
Complimentary beverages and appetizers will be provided, along with free parking.
This members-only event is no charge. To register, please click here.
KARNES was pleased to be in attendance for the Charlotte Business Journal’s Commercial Real Estate Quarterly (CREQ) Live event this morning, which featured Johnny Harris, President and Chief Executive Officer of Lincoln Harris. Mr. Harris provided the audience with a fireside chat, conducted by the Charlotte Business Journal’s Will Boye, covering a range of topics including his involvement in the development of commercial real estate in Ballantyne, SouthPark, and Uptown Charlotte.
The keynote by Mr. Harris was preceded by a lively roundtable discussion involving the winners of the 2013 CRCBR® Deal Makers Awards, an annual awards program officially audited by KARNES. Award winners and panelist included Jensie Teague of Selwyn Property Group, Inc., Rob Pressley of Coldwell Banker Commercial-MECA, Christopher Skibinski of The Skibinski Company, Brian Brtalik of Cusham & Wakefield | Thalhimer, and Phil Brosseau, Jr. of CBRE.
The CREQ Live event is the Charlotte Business Journal’s semi-annual event that brings the Charlotte Business Journal’s Commercial Real Estate Quarterly (CREQ) publication to life. For over 20 years KARNES has been the source for the Charlotte Business Journal’s CREQ exclusive commercial real estate content and looks forward to many more years working together with the Charlotte Business Journal.
Please be sure to update your commercial real estate listings at SiteIndexCharlotte.com to be included in the next CREQ publication, which will be available on May 17th, 2013.
As the 2013 NCAA Basketball Tournament begins today, we reflect on new companies and brokers across North Carolina that have joined so far in March. We would like to welcome the following organizations and subscribers, who will be utilizing the power of a KARNES-powered commercial property exchange and WINNING in 2013!
Welcome New Members
- Bivens Investment Group, LLC
- Hovis Real Estate Solutions
- Octavian Development
- RL West
- Eastern Commercial Corporation
- Northwestern Mutual
- Stream Realty Partners
- The Marwin Group, Inc.
- Sam DiFranco at Trinity Partners
- Sam DiFranco Jr. at Trinity Partners
- Malcolm Lewis at York Properties
- Newmark Grubb Knight Frank (6 new agents)
- Bonnie Crowder at Business Brokers of the Carolinas
- Barry Draughon at Wilkinson & Associates
- Singleton Kimmel, III at The Nichols Company
- Shawn George at Coldwell Banker Commercial-MECA
- Robert A. Richie at Lewis Real Estate
Not a subscriber? Contact our sales team today!
The 2013 CCIM Market Forecasts were a great success and it was our pleasure to get a chance to see familiar faces along with new ones during the past two weeks at the 2013 CCIM Market Forecasts in Greensboro, Charlotte and Cary.
Each of the forecasts focused on the opportunities upcoming in the North Carolina market with an emphasis on how education and workforce development will continue to spur growth in the state.
In addition to a positive outlook for 2013, KARNES was pleased to report that each of the commercial real estate sectors reported positive growth during 2012 in our Tri-City North Carolina Commercial Real Estate Market Report. If you were unable to attend one of the forecasts and would like a copy of this report please look for us at one of the many upcoming networking event during 2013.
Below is an executive summary of our report’s key findings:
After more than five years with no new office construction, the SouthPark submarket in Charlotte appears set to deliver its first new building during 2014. SouthPark, which is the Charlotte Region’s third largest suburban office market with just under 4.25 million square feet, has not seen new office construction since the third quarter of 2007, when the 125,000-square-foot CMC Morrocroft was completed.
SouthPark’s first new office property since CMC Morrocroft will be developed at Sharon Square, a mixed-use project developed by Pappas Properties which includes apartments and retail space anchored by Whole Foods. Pappas Properties plans to build a 105,500-square-foot office building that will be anchored by SunTrust Bank and is scheduled to be complete by mid 2014. SunTrust will consolidate its local operations into approximately 43,500 square feet at the Sharon Square office property.
KARNES is pleased to announce the upcoming availability of upcoming webinars throughout the Spring-Summer of 2013. These no cost, online webinars will cover the many facets of KARNES’ commercial property exchange solution, with a focus on the following topics:
- Session 1: Introduction to the CPE iPad App
- Session 2: Harnessing CPE Analytics
- Session 3: Leveraging the CPE’s Advanced Broadcast Email Platform
- Session 4: Using the CPE to Reduce Marketing Costs
Subscribers: Click on a course below, login and click “Sign Up” to be registered for an upcoming webinar.
Not a subscriber? Contact our sales team if you would like to have a one-on-one demonstration.
Webinar Schedule – Session 1
|March 27th, 2013||2:00-2:30 pm||Introduction to SiteIndex iPad App|
|April 9th, 2013||2:00-2:30 pm||Introduction to WNC CPE iPad App|
|April 10th, 2013||2:00-2:30 pm||Introduction to Triad CIE iPad App|
|April 10th, 2013||3:00-3:30 pm||Introduction to Triangle CPE iPad App|
Webinar Schedule – Session 2
|May 7th, 2013||2:00-2:30 pm||Harnessing SiteIndex Analytics|
|May 7th, 2013||3:00-3:30 pm||Harnessing Triangle CPE Analytics|
|May 9th, 2013||2:00-2:30 pm||Harnessing Triad CIE Analytics|
|May 9th, 2013||3:00-3:30 pm||Harnessing WNC CPE Analytics|
Webinar Schedule – Session 3
|May 14th, 2013||2:00-2:30 pm||Leveraging the SiteIndex’s Advanced Broadcast Email Platform|
|May 14th, 2013||3:00-3:30 pm||Leveraging the Triangle CPE’s Advanced Broadcast Email Platform|
|May 16th, 2013||2:00-2:30 pm||Leveraging the Triad CIE’s Advanced Broadcast Email Platform|
|May 16th, 2013||3:00-3:30 pm||Leveraging the WNC CPE’s Advanced Broadcast Email Platform|
Webinar Schedule – Session 4
|May 21st, 2013||2:00-2:30 pm||Using SiteIndex to Reduce Marketing Costs|
|May 21st, 2013||3:00-3:30 pm||Using the Triangle CPE to Reduce Marketing Costs|
|May 23rd, 2013||2:00-2:30 pm||Using the Triad CIE to Reduce Marketing Costs|
|May 23rd, 2013||3:00-3:30 pm||Using the WNC CPE to Reduce Marketing Costs|
Brian Reece, managing partner of KARNES will be a speaker at the Triangle J Smart Growth Committee Meeting taking place Tuesday, March 12th. At the meeting, attendees will hear about trends in multi-family and commercial development.
According to the Triangle J website, the Smart Growth Committee brings together elected officials, local and state government staff, university researchers and interested citizens to share information about programs designed to guide growth.
The meeting will be Tuesday, March 12th from 2-4PM at the TJCOG, in the large conference room.
A combined total of 143.6 million square feet of retail space is located within the Tri-City area. With a retail inventory totaling approximately 60.4 million square feet at the end of 2012, the Charlotte market is the largest of the three North Carolina retail markets, accounting for 42% of the retail inventory. The Triangle market ranked second with 45.4 million square feet of retail space, while the Triad maintained 37.8 million square feet of retail space. Retail construction continued to decline during 2012 as a combined total of 541,782 square feet of new retail space was completed in the Charlotte, Triangle, and Triad markets. This was the lowest level reported since Karnes began tracking the markets. New retail supply during 2012 was most pronounced in the Charlotte region, where 343,100 square feet of new space was delivered. The Triangle region ranked second with 166,138 square feet of new retail space completed during 2012, while the Triad region reported 32,544 square feet of new retail during 2012.
The reduced supply-side pressures allowed for vacancy rates to decrease in all of the Tri-City markets during 2012. At 8.6%, the Charlotte retail vacancy rate decreased 0.4% of a point during 2012 as net absorption totaling 371,754 square feet outpaced the 343,100 square feet of new supply. Despite the decrease, the Charlotte vacancy rate remained above the 8.4% reported in 2009 and the five-year low of 6.9% reported in 2008. The Triangle retail vacancy rate decreased 0.5% of a point during 2012 as net demand totaling 376,483 square feet outpaced 166,138 square feet of new supply. The Triangle’s 2012 vacancy rate of 7.0% was the lowest of the Tri-City markets, but remained 0.5% of a point higher than the 6.5% reported in 2008. New retail supply totaling 32,544 square feet in the Triad market was outpaced by net demand totaling 234,511 square feet during 2012. As a result, the Triad retail vacancy rate decreased 0.5% of a point to 11.0% from the 11.5% reported at the end of 2011. Despite the decrease, the rate remains 1.4% points higher than the 9.6% reported at the end of 2008.