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…)

April Brings New KARNES Users

Posted on May 8, 2014 by - Asheville, Charlotte, Commercial Property Exchange, CRCBR, Durham, Greensboro/Winston-Salem/High Point, Industrial, New Subscribers, New Users, Office, Raleigh, Retail, SiteIndex, Triad CIE, Triangle, Triangle CPE, Users, Western NC, WNC CPE

New KARNES MembersAs April 2014 comes to an end, we reflect on new companies and brokers across North Carolina that have joined this past month. We would like to welcome the following organizations and users, who will be utilizing the power of KARNES systems to make 2014 a success!

Welcome New Members

  • Wade Corbett at Re/Max Southland Realty II
  • John T. Allred at Earnhardt & Associates Appraisers, Inc.
  • Christopher Collins at RE/MAX Of Greensboro
  • Samie Gupton at Discovery Realty Inc.
  • Terry Henderson at Dixon Commercial Properties
  • Matthew Greenspon at Marcus & Millichap
  • Allison Blair at Blair Realty, LLC
  • Jack Branch at The Benfield Group, LLC
  • Tom Gregory at Lake Norman Realty, Inc.
  • Vincent Howard at Brown Investment Properties
  • H.R. Gallimore at RE/MAX CENTRAL REALTY
  • Gloria Mitchell at Wilkinson Triad Realty
  • Alan Weidt at Carolina Commercial Realty
  • Kevin J. Doherty at Gibson Smith Realty Co.
  • Susan Donaldson at West Norman Real Estate
  • Chris Boone at Vineyard Capital Advisors, LLC
  • Dennis N. Bunker III at Bunker Land Group, LLC

Not a subscriber? Contact our sales team today!

KARNES “Springing” with New Subscribers

Posted on April 4, 2014 by - Asheville, Charlotte, Commercial Property Exchange, Durham, Greensboro/Winston-Salem/High Point, Industrial, New Users, Office, Raleigh, Retail, SiteIndex, Subscribers, Triad CIE, Triangle, Triangle CPE, Users, WNC CPE

KARNES Springing with New SubscribersWith Spring in the air, we are excited to welcome the following organizations and subscribers who will be utilizing the power of a KARNES-powered commercial property exchange to spring forward in 2014!

Welcome New Members
  • Scott Farmer at Scott Farmer Properties, Inc.
  • Lee Burgess at Amicus Commercial Real Estate
  • David Krug at David Krug & Associates
  • John Salisbury at Capstone Real Estate Services
  • Brian Smith at CIP Real Estate Property Services
  • Phil Begany at Lat Purser & Associates
  • Marlane Klintworth at Lat Purser & Associates
  • Stephen Woodard at JLL
  • John Christenbury at Cassidy Turley
  • Karen Mankowski at Newmark Grubb Knight Frank

Not a subscriber? Contact our sales team today!

Airport Distribution Center sells for $19.2 Million

Posted on April 3, 2014 by - Greensboro/Winston-Salem/High Point, Industrial, Investment, Triad CIE

Airport Distribution Center

CIP Real Estate sold the Airport Distribution Center off of Chimney Rock Road in Greensboro, North Carolina on March 14, 2014 for $19.2 million to PRF III / SPI-ADC LLC. This park is made up of five buildings totaling 764,500 square feet. The first building is located at 202 Chimney Rock Road and totals 220,000 square feet. The second building is located at 204 Chimney Rock Road and totals 28,000 square feet. The third building is located at 206 Chimney Rock Road and totals 200,000 square feet. The remaining two buildings are located at 311 Chimney Rock Road and are 187,500 and 129,000 square feet respectively.

CIP Real Estate purchased the property from Highwoods Properties in 2010 for $12.3 million. Following a renovation, successful leasing efforts have reduced the vacancy levels at the property. Current tenants include Bunzl Distribution, FedEx Office, Lewis Storage, Mediterranean Snack Food Co, and Polo.

Childress Klein Responds to Tightening Warehouse Market

Posted on March 31, 2014 by - Charlotte, Construction Update, Development, Industrial, SiteIndex

Childress Klein began marketing 310,690 square feet of speculative warehouse space at Ridge Creek West I in response to the tightening warehouse market in the Charlotte region.

Construction of the new building is scheduled to begin the first week of April and should complete by the end of 2014. The building will feature a 30’ clear height, 52’ wide by 50’ deep column spacing and access to extensive on-site trailer storage that will be ideal for distributors and manufactures seeking easy access to I-77, I-485, Highway 49 and the Charlotte/Douglas International Airport.

Charlotte’s 2013-year-end vacancy rate was reported at 6.9% and was the lowest recorded warehouse vacancy rate since KARNES began tracking the market in 1988. Nearly 930,000 square feet of positive net demand was reported in the Southwest warehouse submarket through 2013 resulting in a 7.5% vacancy rate to end the year.

At 310,690 square feet, Ridge Creek West I will be the largest warehouse building under construction in the region. Steele Creek Commerce Park, also in the Southwest submarket, was the only speculative warehouse project under construction in the region at the end of 2013 and will total over 465,000 square feet when fully developed. Pre-leasing has been successful at Steele Creek Commerce Park as Building 1 (70,000 square feet) will be occupied by Kuehne & Nagel Inc. and half of the 70,000-square-foot Building 2 will be occupied by Huber + Suhner.

The Ridge Creek Distribution Center campus already boasts over 1 million square feet of distribution space but only 121,680 square feet was reported available in Ridge Creek Distribution Center IV nearing the end of the first quarter of 2014.

See You At The 2014 CCIM Triangle Market Forecast on March 19th

Posted on March 17, 2014 by - Commercial Property Exchange, Events, Industrial, Office, Raleigh, Retail, Subscribers, Triangle, Triangle CPE

CCIM Market ForecastJoin Managing Partners Andrew Jenkins and Brian Reece, Wednesday, March 19th, as KARNES and local commercial real estate professionals attend the 2014 CCIM Triangle Market Forecast.  KARNES is pleased to be a Statewide Bronze Sponsor of this event, as well as the Charlotte Market Forecast, which will be held on April 9th.  KARNES will be providing copies of our 3rd annual Tri-City North Carolina Commercial Real Estate Market Report at each of these events.  Be sure to attend in order order to get your copy of this report, which provides provides an overview of the office, industrial, and retail markets in Charlotte, Greensboro/Winston-Salem/High Point, and Raleigh-Durham NC during 2013.

Keynote speakers at the Triangle Market Forecast include:

John Jung – Regional Economy
Bob Hukill – Grandbridge
Steve Bell – Why Raleigh, Why Triangle

The event will be held at Embassy Suites in Cary. Registration and networking will begin at 11:10am, and the program luncheon will begin at 12pm.

See You At The 2014 CCIM Triad Market Forecast on March 5th

Posted on February 28, 2014 by - Commercial Property Exchange, Events, Greensboro/Winston-Salem/High Point, Industrial, Land, Office, Retail, Triad CIE, Uncategorized

CCIM Market ForecastJoin Managing Partners Andrew Jenkins and Brian Reece, Wednesday, March 5th, as KARNES and local commercial real estate professionals attend the 2014 CCIM Triad Market Forecast.  KARNES is pleased to be a Statewide Bronze Sponsor of this event, as well as the Raleigh and Charlotte Market Forecasts, which will be held on March 19th and April 9th, respectively.  KARNES will be providing copies of our 3rd annual Tri-City North Carolina Commercial Real Estate Market Report at each of these events.  Be sure to attend in order order to get your copy of this report, which provides provides an overview of the office, industrial, and retail markets in Charlotte, Greensboro/Winston-Salem/High Point, and Raleigh-Durham NC during 2013.

Keynote speakers at the Triad Market Forecast include:

Capital Markets:   Mike Ortlip, Grandbridge Real Estate Capital
Retail Markets:  Steven B. Tanger, Tanger Factory Outlet Centers, Inc.
Moderator:  Robert V. Perkins, CCIM, NAI

The event will be held at The Marriott Downtown Greensboro. Registration and networking will begin at 11:10am, and the program luncheon will begin at 12pm.

See You At The CRCBR 2014 Deal Makers Awards Luncheon Today!

Posted on February 27, 2014 by - Charlotte, Commercial Property Exchange, Events, Industrial, Land, Office, Retail

dm_awardsManaging Partner, Andrew Jenkins, will be in attendance at the CRCBR 2014 Deal Makers Awards Luncheon taking place today. KARNES is pleased to be the official audit firm for the CRCBR 2014 Deal Makers Awards.

According to the CRCBR website, the CRCBR Deal Makers Awards Program recognizes brokers and developers in the commercial real estate industry who have accumulated sales transaction volume over $2 million in 2013. Brokers are recognized in the categories of office, industrial, retail, land, and investment. Developers will be recognized in the categories of office, industrial, and retail.

The event will be held at The Westin Charlotte.  Registration and networking will begin at 11:30 am, and the awards luncheon will begin promptly at 12:00 pm.  Parking will be available at The Westin.

Lenovo expands into 68,000 square feet in Rock Creek Center

Posted on January 17, 2014 by - Greensboro/Winston-Salem/High Point, Industrial, Triad CIE

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.

CPE Tips & Tricks: Property Traffic Analysis

Posted on December 13, 2013 by - 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

traffic-analysis2

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.

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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 TypeView 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!