When one of our power subscribers called into the KARNES support department and asked for an easy way to copy a portfolio, we were happy to assist. This subscriber frequently utilizes the Portfolio function of the Commercial Property Exchange to provide quick reports for clients to review and for tracking competitive properties, but wanted to utilize a portfolio of properties from a prior client for a new client with similar needs without performing the search again. Since each portfolio allows you to create a customized report with the client’s name when emailing and generating a PDF, duplicating a portfolio would be incredibly useful in this scenario. Fortunately for the subscriber, the KARNES team recently implement an enhanced feature for portfolios that can help save time and effort in this and many other similar scenarios – the View as Search option. Read on to see how this feature works.
Research + News
The Rock Creek Center in Whitsett, North Carolina reported one of the largest tenant moves within the Triad Region during the fourth quarter of 2013 when Lenovo leased an additional 68,000 square feet at 6350 Franz Warner Parkway. The building, which is now 100% leased, is located in the Guilford – Southeast submarket, where the industrial vacancy rate was 14.3% at the end of the third quarter of 2013, according to the KARNES Report. The Guilford – Southeast warehouse submarket reported strong leasing during the first nine months of 2013, with approximately 589,640 square feet of net absorption.
The growth in the Triad Market was not a first for Lenovo. In January of 2013, Lenovo began operating a new production line nearby in their 240,000 square foot building at 6540 Franz Warner Parkway where they also operate a customer solutions, logistics, and national returns center.
According to the NAIOP Research Triangle website, this event will feature panel discussions on current office market trends, 2014 predictions, new office development activity, workplace solutions, and the top 5 most important things companies are looking for when considering office space. Panelist for the event include Skip Hill (Highwoods Properties), Jeff Sheehan (Duke Realty), Mike Morgan (Jones Lang LaSalle), and John Daly (CBRE). The discussion will be moderated by Tom Fritsch of CBRE.
As a Gold Sponsor of NAIOP Research Triangle Chapter, KARNES is proud to take part of this well attended event, which will take place Thursday, January 15th, from 7:30AM-9:00AM at the PNC Arena in Raleigh.
In 2014, KARNES will continue to enhance and improve our products and services to provide the quality of service and information our users have come to expect.
Many new companies and brokers across North Carolina have joined a KARNES-powered commercial property exchange during December 2013. The following firms and/or individuals will now be utilizing the vast tools and features of a KARNES-powered commercial property exchange:
Welcome New Subscribers
- Lynette Glenn at Highland Realty & Development
- Brian Craver at Cushman & Wakefield | Thalhimer
- Peter Hitchens at RE/MAX Executive – Commercial Division
- Roger Baldwin at REID Real Estate Company
- Gene Poore at Builders Realty
- Ken McWilliams at Crescent Communities
- Jason Morris at The Baldwin Companies
- Jason Severt at The Baldwin Companies
- Nick Gonzalez at Linville Team Partners
- Deborah Carpenter at KW Commercial Cary
Are you 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!
Happy New Year!
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.
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.
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!
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.
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.
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.
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.