Xceligent Enhances Services with a Strategic Investment into Analytics Firm Karnes Research Company

Posted on January 5, 2015 by - Asheville, Charlotte, Commercial Property Exchange, Durham, Greensboro/Winston-Salem/High Point, In the News, Raleigh, SiteIndex, Subscribers, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE, Xceligent

Xceligent KARNES LogoINDEPENDENCE, MO (January 5, 2015) – Xceligent, Inc., a leading provider of proactively researched commercial real estate information and marketing solutions, is pleased to announce it has made a strategic investment into Karnes Research Company, a North Carolina-based provider of commercial real estate analytics, information, and marketing solutions.

Xceligent will leverage Karnes’ renowned analytics, in addition to over 25 years of experience in the Carolinas, to both expand its coverage and further enhance its fully researched commercial real estate information. This relationship further enhances Xceligent’s ability to serve clients across the Carolinas.

“We are thrilled to have one of the industry’s best and longest serving providers of analytics join us as we continue to build a strong national alternative for commercial real estate information,” said Doug Curry, Xceligent founder and CEO. “Combining these two extraordinary teams creates a strong foundation for the expansion of our market analytics team and allows us to deliver best of breed information to the industry. Over the years, the Karnes professionals have established the reputation of being the best in the Carolinas market and we are excited to have them join Xceligent,” he added.

“We were drawn to Xceligent after meeting their incredible team and experiencing firsthand their relentless efforts to provide the most accurate and reliable market information,” said Andrew Jenkins, Managing Partner of Karnes Research Company. “There was no other company we would trust to form the base of our analytics moving forward and we are excited that we now have the perfect match to grow our analytic services nationally.”

The Karnes partnership is yet another step in a series of steps intended to bring best-of-class technology offerings and additional data to accelerate the enhancement of Xceligent’s product offering and expansion of its footprint. In addition to its market reports and analytics services, Karnes offers a property-centric CIE solution and an apartment information solution. The partnership will create a strong footprint in the Carolinas, following last year’s launch in the Raleigh-Durham market.

Currently available in over 44 markets and expanding into the largest 65 US markets by 2016, Xceligent will next launch the Orlando and Houston markets and will work with Karnes’ subscribers and their local real estate association partners to expand into the Carolinas markets. Xceligent provides fully researched information and marketing tools for companies involved in buying, selling, leasing, developing, appraising or managing commercial real estate. Xceligent’s core research product provides a comprehensive inventory of commercial properties, available spaces, tenants, sales comparables, demographic information and mapping tools. Xceligent works closely with advisory boards comprised of the leading professionals in each market to quarterly review the market conditions by verifying tenant movement and completed transactions.

About Xceligent, Inc.

Xceligent is the fastest growing provider of commercial real estate information in the country. Headquartered in Independence, Missouri, Xceligent is known to be a leader in customer service and has a long-standing history of partnering with the commercial real estate community. Xceligent is the exclusive provider of commercial real estate information to members of the National Association of REALTORS® through the REALTOR Benefits® Program, and is endorsed by leading commercial real estate trade organizations and brokerage firms as a preferred service for commercial real estate information. To learn more, visit www.Xceligent.com.

 

CONTACT:
Daniel Ceniceros
daniel@xceligent.com
213-407-3472

Andrew Jenkins
ajenkins@karnesco.com
704-940-9551

See You at CRCBR’s BrokerNet on Wednesday, November 12th

Posted on November 10, 2014 by - BrokerNet, Charlotte, Commercial Property Exchange, CRCBR, Events, New Features, New Subscribers, New Users, SiteIndex, Subscribers

The Unknown Brewing Co.The KARNES  Team will be attending the CRCBR (Charlotte Region Commercial Board of Realtors) BrokerNet on Wednesday, November 12th from 5:30pm-7:30pm at The Unknown Brewery (1327 S Mint Street Charlotte, NC 28203).

This event will be a great opportunity for SiteIndex users to ask general questions, find out more information regarding recent upgrades and future system enhancements.

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.

2014 Triangle Apartment Association Fall Construction Bus Tour to Feature KARNES

Posted on October 16, 2014 by - Apartments, Construction Update, Development, Events, Raleigh, Triangle, Triangle CPE

2014 Fall Construction Bus TourKARNES is proud to announce that Managing Partner, Brian Reece, will be a narrator for the upcoming Triangle Apartment Association (TAA) Fall Construction Bus Tour. In addition to seeing several new apartment communities in the Triangle, bus tour participants will also receive market information including analysis by KARNES.

Don’t miss this truly unique experience to hear from industry leaders about submarket performance, market trends, new product trends, demographic and employment statistics, and factors that are driving new development.  Whether you are an investor, owner, developer or operator, you will walk away with a better understanding of the Raleigh-Durham-Cary Market!

The bus tour will take place Friday, October 17th from 9AM-3PM.  Cost is $75 Members/ $85 Non-Members

Click here for more information or to register today!

NAIOP Triangle Bus Tour SOLD OUT!!!

Posted on October 7, 2014 by - Commercial Property Exchange, Construction Update, Development, Durham, Events, Raleigh, Subscribers, Triangle, Triangle CPE

NAIOP SOLD OUTLast month we mentioned a limited seating event that you didn’t want to miss, and we would like to inform you that the NAIOP Triangle Bus Tour is SOLD OUT!!!  The tour is a truly unique experience to see proposed, renovated, or under construction properties in the Triangle!  NAIOP Triangle brought back its signature bus tour event that  allows real estate professionals to gather the latest insight and “real time” data on office development in the Triangle.

KARNES is proud to be a Gold Sponsor of NAIOP Triangle and will be the exclusive data and research provider for the bus tour.

The bus tour will take place Thursday, October 9th from 9AM-4PM and includes lunch, all day parking, reception, and much more!  For event details, please refer to the following link:  http://www.naioprt.org/events.cfm

KARNES To Speak At TRIAD RCA Education Event

Posted on September 22, 2014 by - Commercial Property Exchange, Events, Greensboro/Winston-Salem/High Point, New Features, Subscribers, Tips & Tricks, Training, Triad CIE, Users

Andrew Jenkins, Managing Partner, KARNESAndrew Jenkins, managing partner of KARNES, will be a speaker at the TRIAD RCA Education Event, taking place Tuesday, September 23rd in Greensboro.

Attendees will hear Mr. Jenkins speak on a range of topics regarding the most recent Version 4.0 improvements to the Triad CIE system including:

  • A complete site redesign that increases usability and performance on modern browsers
  • Brochure enhancements including a new large-image format, improved default layout, and more
  • Improved text editing for comments and broadcast emails, including Spell Check
  • A redeveloped Photo Gallery View for faster image rendering
  • Improved searching for properties by address
  • Full screen map toggle
  • Improved session management
  • An updated version of the Triad CIE iPad App
  • And much, much more

The event is being held from 9am-10:30am at the High Point Realtors Association, 1830 Eastchester Drive, High Point.

For more information and registration details, please refer to the attached flyer: 9-23-14 Education Event

KARNES Tri-City North Carolina Retail 2013 Year in Review

Posted on July 21, 2014 by - Chapel Hill, Charlotte, Commercial Property Exchange, Construction Update, Development, Durham, Greensboro/Winston-Salem/High Point, KARNES Perspective, KARNES Tri-City Report, Raleigh, Retail, SiteIndex, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE

A combined total of 144.8 million square feet of retail space was located within the Tri-City area at the end of 2013. With a retail inventory totaling approximately 60.7 million square feet, the Charlotte market was the largest of the three North Carolina retail markets, accounting for 42% of the retail inventory. The Triangle market ranked second with 46 million square feet of retail space, while the Triad maintained 38 million square feet of retail space. After declining to a historical low of 541,782 square feet in 2002, retail construction increased to nearly one million square feet in the Tri-City markets during 2013. New retail supply during 2013 was most pronounced in the Triangle region, where 693,982 square feet of new space was delivered. The Charlotte region ranked second with 231,680 square feet of new retail space completed during 2013, while the Triad region reported 38,000 square feet of new retail during 2013. Only the Charlotte region reported a continued decline in new construction from the level reported in 2012. While retail construction in the Tri-City area increased during 2013, the level of new supply remained well below the 2.6 million square feet averaged annually between 2008 and 2011.
KARNES Tri-City Retail Vacancy Trends
The relatively low supply-side pressures from new construction allowed for vacancy rates to decrease in all of the Tri-City markets during 2013. At 8.0%, the Charlotte retail vacancy rate decreased 0.6% of a point during 2013 as net absorption totaling 494,986 square feet outpaced the 231,680 square feet of new supply. Despite the decrease, the Charlotte vacancy rate remained above the 6.9% reported in 2008. The Triangle retail vacancy rate decreased 0.4% of a point during 2013 as net demand totaling 849,391 square feet outpaced 693,982 square feet of new supply. The Triangle’s 2013 vacancy rate of 6.6% was the lowest of the Tri-City markets, but remained 0.1% of a point higher than the 6.5% reported in 2008. New retail supply totaling 38,000 square feet in the Triad market was outpaced by net demand totaling 386,123 square feet during 2013. As a result, the Triad retail vacancy rate decreased 0.9% of a point to 10.1% from the 11.0% reported at the end of 2012. Despite the decrease, the rate remained 0.5% of a point higher than the 9.6% reported at the end of 2010.
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KARNES Tri-City North Carolina Industrial 2013 Year in Review

Posted on July 21, 2014 by - Chapel Hill, Charlotte, Commercial Property Exchange, Development, Durham, Greensboro/Winston-Salem/High Point, Industrial, KARNES Perspective, KARNES Tri-City Report, Raleigh, SiteIndex, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE

Karnes divides the industrial market is into two categories – warehouse and flex. At the end of 2013, the Tri-City markets contained a total of 105 million square feet of warehouse space and 34.6 million square feet of flex space. With over 52 million square feet of warehouse space, the Triad market accounted for approximately 50% of the Tri-City warehouse market. The Charlotte market ranked second with 34 million square feet, while the Triangle market maintained 18.4 million square feet.

The 178,250 square feet of warehouse space completed in the Triad market during 2013 accounted for all of the new warehouse space completed among the Tri-City regions. For the Triangle market, 2013 marked the fourth year in a row where no new warehouse space was delivered. Two warehouse buildings were delivered in the Triad market during 2013 with the largest being a 134,650-square-foot speculate building at 1023 Corporate Park Drive in Mebane. A total of only 564,738 square feet of new warehouse space was delivered in the Charlotte market between 2009 and 2013, while the Triangle market reported even less at 412,940 square feet. With the additional space delivered during 2013, total warehouse construction in the Triad during the same period totaled 469,750 square feet.
KARNES Tri-City Warehouse Vacancy Trends (more…)

KARNES Tri-City North Carolina Office 2013 Year in Review

Posted on July 21, 2014 by - Charlotte, Commercial Property Exchange, Construction Update, Greensboro/Winston-Salem/High Point, KARNES Perspective, KARNES Tri-City Report, Office, Raleigh, SiteIndex, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE

A combined total of 117 million square feet of office space is located within the Tri-City area. Totaling nearly 50 million square feet at the end of 2013, the Charlotte market is the largest of the three North Carolina office markets. The Triangle market ranked second with 41.4 million square feet of office space, while the Triad maintained 25.7 million square feet of office space. After reporting a total of 1.48 million square feet of new office construction in the Charlotte, Triangle, and Triad regions during 2012, new supply came to a halt during 2013 and marked the first time in over 25 years that no new office space was completed in the combined Tri-City region.

The decrease in supply-side pressure allowed for gains to be reported in each of the Tri-City markets. The Charlotte market reported the greatest gains during 2013 as net absorption (demand) totaling 1.3 million square feet resulted in a 2.5%-point decrease in the office vacancy rate. The year-end 2013 rate of 14.8% in Charlotte was the lowest vacancy rate among the three markets, with the Triangle and Triad both reporting a rate of 15.0%. The year-end 2013 Triangle vacancy rate was 0.6% of a point lower than the year-end 2012 rate as net absorption totaled 204,615 square feet. The Triad region reported a 0.2% of a point decrease in vacancy during 2013 as net absorption totaled 162,219 square feet.

KARNES Charlotte Office Leasing Activity

With net absorption totaling 1.3 million square feet, the Charlotte region reported the highest level of net demand during 2013. The Triangle region ranked second in terms of office demand during 2013 with net absorption totaling 204,615 square feet. The Triad market reported 162,219 square feet of net demand during 2013. Four office tenants occupied over 100,000 square feet in the Tri-City markets during 2013, with the largest tenant occupancy reported at Ballantyne – Gragg Building, where MetLife took 284,212 square feet. MetLife also accounted for the fourth largest gain as the company took 104,747 square feet of space at Ballantyne Three. Ballantyne Corporate Park also accounted for the largest contraction during 2013 in the Tri-City markets as AXA Equitable Life Insurance relocated from 152,000 square feet at Ballantyne – Rushmore One to 141,647 square feet at Innovation Park Building 202.

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Restart the Renovation – Grinnell Waterworks Building May Complete In 2014

Posted on July 11, 2014 by - Charlotte, Construction Update, Development, Midtown, Office, SiteIndex

GrinnellWaterworksTwo UC
Renovation of the historic Grinnell Water Works building at 1431 W. Morehead Street started during the second quarter of 2007 but stalled in 2009. The building was purchased by Edifice for $688,500 during the third quarter of 2013 and now appears to be back on track with active renovations for new occupancy.

Edifice has tabbed Kristy Venning and Charlie Swanson of Beacon Partners to market the 28,128 square foot building.

Edifce’s headquarters is located in the neighboring Coca-Cola Building that they purchased for $650,000 in 1996 and gives them ideal proximity to oversee the renovations and selection of future tenants. One of the most exciting renovations coming to 1431 W. Morehead Street will be a 1,300 square foot rooftop patio for tenants to enjoy the impressive skyline views afforded with its location just outside of Downtown submarket. Edifice expects completion of the extensive renovations on the 28,000-square-foot building by the end of June 2014.

When completed, 1431 W. Morehead Street will be the first new office space added to the Karnes inventory of multi-tenant for lease inventory in the Midtown submarket since 2012 when the Levine Cancer Institute (171,000-square feet) opened.

Shaking Up SouthPark Mall – New Luxury Occupants and Stalwart Tenant Relocations

Posted on July 11, 2014 by - Charlotte, Retail, SiteIndex

Recently, our research team took the opportunity to check out the latest tenant activity at Charlotte’s SouthPark Mall, where a lot of changes were underway. The fall should see a flurry of new openings as stores currently under construction include:

Athleta Under Construction

Athleta Under Construction

Athleta, a fitness fashion brand for women that is part of the Gap’s ownership group, will open in the main entrance near Cheesecake Factory across from Starbucks in the space that formerly housed Wentworth Gallery, The Walking Company.

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Boston Proper Under Construction

Boston Proper Under Construction

Boston Proper, a popular women’s fashion catalog and website, will open a boutique in the Sur La Table’s former space in the Nordstrom wing.


H&M Under Construction

H&M Under Construction

H&M, or Hennes & Mauritz AB which sells cost-friendly contemporary clothing and accessories for women, men and children, plans for fall completion in the Macy’s wing. Dispaced tenants from H&M’s arrival include Aeropostale, Amy’s Hallmark, Copacetic, Pink & Blue, SouthPark Optical (relocated and opened in the Belk wing across from Gap), and Nestle Toll House (relocated to former Skechers at across directly across from its former location at the entrance of the food court).


American Girl Under Construction

American Girl Under Construction

American Girl, an experiential retailer of high-end dolls, doll outfits, accessories, girl-sized clothing, American Girl books, will open in the Macy’s wing in the spaces formerly housing Delia’s and Mori Luggage (relocated to the main entrance). The new store will also offer a 25-seat Bistro for Doll Hair Salon.


Armani Collezioni

Armani Collezioni

Armani Collezioni, a sub-label of Giorgio Armani, opened in the Neiman Marcus wing in June.


Lush UC

LUSH, an elite nail bar, will open in the former Rocky Mountain Chocolate Factory space at the entrance to the Macy’s Wing.


Sur La Table

Sur La Table

Sur La Table relocated and opened in the former Anne Taylor space in the Dillard’s wing. Ann Taylor relocated to the former Justice space next to Banana Republic.


Kate Spade relocated next to David Yurman

Kate Spade relocated next to David Yurman

Kate Spade New York recently relocated to the Nordstrom wing.


The Limited

The Limited’s newly remodeled store

The Limited, recently closed its temporary store in the Macy’s wing, for the opening of its remodeled store which opened in June down the hall in the Macy’s wing.


Lacoste's new location next to Lululemon

Lacoste’s new location next to Lululemon

Lacoste relocated from their space in the Nordstrom Wing to Kate Spade’s former space in the Belk’s wing next to Lululemon.


Juicy Couture Closed

Juicy Couture Closed

Juicy Couture closed next to Tori Burch in the Nieman Marcus wing.