The Wake Forest School of Medicine is moving into 120,000 square feet of the 525@Vine Building in the Wake Forest Innovation Quarter beginning in March of 2014. The 525@Vine Building is located in Forsyth County’s Central Business District, where the office vacancy was 7.8% for third quarter of 2013, according the KARNES Report.
The Wake Forest School of Medicine will relocate its public health sciences and physician assistant programs into this space. The public health sciences program will be moving out of the Wells Fargo Center and the physician assistant program will be moving out of the Victoria Hall building, both of which are in downtown Winston-Salem. In total, the Wake Forest public health sciences and physician assistant programs will be moving about 450 staff, faculty, and students into the 525@Vine Building.
“The move of Public Health Sciences and the Department of PA Studies to our downtown campus is part of our overall strategy to create synergies between our world-class research and education programs embodied in the School of Medicine and our commitment to public-private partnerships to advance the economic development of the region,” said John D. McConnell, M.D., chief executive officer, Wake Forest Baptist Medical Center.
Wexford Science & Technology, a BioMed Realty company, is currently renovating this former “90 series” R.J. Reynolds Tobacco Company building using private investment and the application of federal and state tax credits. When the renovations are completed in late 2014, Wexford’s investment in the Innovation Quarter and Winston-Salem will total more than $250 million.
Full Press Release
Posted on December 13, 2013 by info4karnesco - Apartments, Asheville, Chapel Hill, Charlotte, Commercial Property Exchange, Durham, Greensboro/Winston-Salem/High Point, Industrial, Land, Office, Online Training, Raleigh, Retail, Tips & Tricks, Training, Triangle, Western NC
Share Branded PDF Reports with Your Clients
One of the many integrated features of the KARNES CPE system is the Property Traffic Analysis function. Many users may not be aware of this powerful feature.
While users are working hard to market properties, the Traffic Analysis feature provides useful insight into property traffic data for All or a specified Property by defined time frame, where/how the property was viewed and who viewed the property.
Beyond providing property traffic details, the Property Traffic Analysis function allows the creation of a PDF report that can be emailed or printed and can also be easily customized by adding company logos and headers. Beyond personal insight, this report creates a excellent branded marketing piece to provide to clients to illustrate listing activity, or to use during organizational meetings.
Powerful Traffic Analysis Filters
To access the Property Traffic Analysis function, simply login to your account and click on Traffic Analysis under the Home/MyProperties tab. From here you can filter our results with a variety of options including: Date Range, View Type, View Source and Select Property. The Traffic Summary Graph displays total number of views by day/date based on selected filter, while the Traffic Summary Chart displays the Name, Company and Number of Views of the Top Viewers. The Activity Chart displays the Date Viewed, Property Viewed, CPE #, Source Type, Source Name (if a member), Source Company (if a member), and View Type.
With the New Year right around the corner, utilizing the Property Traffic Analysis function is another powerful tool to add to your CPE routine to make 2014 a success!
Keep in mind that the Property Traffic Analysis feature is one of the many benefits that can only be accessed by Paid Subscribers. If you are ready to be the latest organization or subscriber to harness the tools and features of a KARNES-powered commercial property exchange, contact our sales team today!
SouthPark Vacancy Trends 2009-3Q13
The 13-acre site that once housed the 284,000-square-foot Maersk Distribution Services building will now include two, 10-story office buildings totaling 480,000 square feet proposed by Lincoln Harris called Capitol Towers at Carnegie.
JLB SouthPark LLC, purchased the site for $21 million during the second quarter of 2012 and began demolition of the building in preparation for construction of up to 591 apartment units.
Lincoln Harris will purchase half of the site to build the speculative 240,000-square-foot buildings.
As of the third quarter of 2013, the SouthPark office submarket totaled nearly 4.25 million square feet with a vacant rate at 10.5%. The 86,754-square-foot Sharon Square office project that SunTrust Bank will anchor was the only office project under construction in the SouthPark submarket during the third quarter of 2013. When completed, Sharon Square will be the first standard office building delivered in SouthPark since One Piedmont Town Center and Two Piedmont Town Center, which have maintained nearly 100% occupancy levels since their completion in 2005/6.
Posted on December 13, 2013 by info4karnesco - Asheville, Retail, Western NC
Biltmore Station Hendersonville Road
Katuah Market opened its 11,333-square-foot store at Biltmore Station December 18, 2013.
One of the former founders of Asheville’s Greenlife Grocery, John Swann, announced plans to open Katuah Market in February of 2013 and began preparing for its opening. The opening of Katuah Market comes on the heels of the recently completed Harris Teeter on North Merrimon in the Village at Chestnut and the neighboring Trader Joe’s during the third quarter of 2013.
Katuah Market specializes in carrying local sourced products and in-house prepared foods.
The Woodward Building (pictured above) at Ballantyne is one of two speculative buildings delivered at Ballantyne Corporate Park during 2012. Image provided by The Bissell Companies
Johnny Harris mentioned that Charlotte needed a new Ballantyne at the CRCBR’s Annual Meeting and it appears he is ready to make it happen. At least on a smaller scale.
University Investors, a company managed by Lincoln Harris, recently purchased the 24-acre parcel at 239 West Mallard Creek Church Road and Tryon Street for $3.5 million from Bank of America.
In 2005, Landmark Development Partners proposed 326,000 square feet of retail space for the site called University Crossing. Bank of America acquired the site in during the fourth quarter of 2008 and had the land zoned for up to 1 million square feet of space.
Lincoln Harris is seeking to capitalize on the site’s proximity to the future Blue Line Extension stop at JW Clay and terminal stop at UNCC and create a dynamic project that could spur the next Ballantyne in Charlotte.
With over 9,336 apartment units under construction during September 2013 in the Raleigh-Durham market, Novare Group and Beacon Partners have broken ground on Skyhouse Raleigh, a planned 23-story apartment building, in Downtown Raleigh. The project is on a fast track completion deadline and is slated to deliver 320-units within 12-months.
The Triangle apartment market continues to attract investors, with current construction levels the highest reported in any period since 1997. The Triangle area market reports, which are prepared by KARNES and made available online at www.aptxchange.com, cover market conditions including construction, vacancy, absorption, and rental trends. Below are a few highlights from the most recent report.
- A total of 105,477 units where surveyed during the Fall 2013 period.
- Over the six-month period ending in September 2013, a total of 2,866 units were completed
- A total of 9,336 units were under construction in the Triangle as of September 2013.
- The regional vacancy rate climbed 0.4% of a point to 5.9% from the reported March 2013 vacancy of 5.5%
- At $898, the Fall 2013 average weighted monthly rent for all apartment units in the Triangle was up $19 from the average reported in March 2013.
To find out more about the multifamily market in the Triangle Region, please visit us at www.aptxchange.com or by calling us at 800.879.7172.
Experienced Charlotte developer, David Furman, plans to build a 74,000-square-foot mixed use project at the corner of Camden and West Kingston Avenue in SouthEnd.
Centro Cityworks announced plans for 1616 CENTER that will be a 5 story building comprised of 23,080 square feet of retail on the first and second floors and 51,000 square feet of office space on third, fourth and fifth floors. Ligon CRE will handle leasing of the commercial space.
The project should be able to capitalize on the explosive growth of new apartment communities under construction and delivering through 2015 in the SouthEnd district including the 323-unit mixed-use apartment and retail project, Camden Gallery by Camden Property Trust, which was assembled and entitled by Centro Cityworks and Ligon CRE in 2012.
Brian Reece, Managing Partner and Robert Kropp, Research Assistant of KARNES, will be conducting an in-person training covering various key functions of the Triad CIE.
The training will take place Tuesday, December 10th, at the High Point Regional Association of Realtors (1830 Eastchester Dr. High Point, NC 27265). The training will be FREE and will begin at 2pm, so please attend!
Brian Reece and Robert Kropp will represent the KARNES Team at the WSRAR (Winston-Salem Regional Association of REALTORS®) RCA Holiday Social taking place Tuesday, December 10th, from 5:00-7:30pm at Forsyth Country Club (3101 Country Club Rd, Winston-Salem, NC 27104).
This event will be a great opportunity for Triad CIE users to ask general questions, find out more information regarding future system enhancements and upcoming training topics.
In addition to live music provided courtesy of pianist Owen Dodd, presentation of the Commercial Practitioner of the Year Award will also take place.
Representatives from KARNES will be attending today’s CRCBR Annual Meeting luncheon. According to the CRCBR website, not only will the event honor outstanding member achievements and welcome new 2014 board members, but it will also be a celebration of CRCBR’s 20th anniversary!
While present, any member of the KARNES Team will be happy to answer any questions you may have about SiteIndex, the online source for commercial listings, research, and analysis in the Greater Charlotte Area.
Not a subscriber to SiteIndex? Be sure to speak with someone from KARNES about the many benefits that come with being a subscriber.
Already a SiteIndex Subscriber? If you are looking for more ways to maximize your investment, we will be happy to discuss how you can utilize SiteIndex to reduce marketing costs, harness analytics, and increase the exposure of your listings.
The event will be held Monday, December 2nd at Quail Hollow Club, from 11:30am-1:30pm.