Posted on September 15, 2014 by sales4karnesco - Chapel Hill, Commercial Property Exchange, Development, Durham, Events, Office, Raleigh, Subscribers, Triangle, Triangle CPE, Users
NAIOP Triangle is bringing back its signature bus tour event that will allow real estate professionals to gather the latest insight and “real time” data on office development in the Triangle. Don’t miss this truly unique experience to see proposed, renovated, or under construction properties 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 registration details, please refer to the following link:
Posted on July 21, 2014 by info4karnesco - 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.
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.
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.
Posted on June 2, 2014 by sales4karnesco - Asheville, Chapel Hill, Charlotte, Commercial Property Exchange, CPE Weblink, Durham, Greensboro/Winston-Salem/High Point, New Subscribers, New Users, Office, Raleigh, Retail, SiteIndex, Triad CIE, Triangle CPE, Users, Western NC, WNC CPE
As May 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
- Jamie Davis at Colliers International
- Jessica Peadon at Colliers International
- Caroline Gorrell at Key Commercial Real Estate
- Lee Jackson at Legacy Real Estate Advisors, LLC
- Scott Davies at NAI Southern Real Estate
- Jean King at Berkshire Hathaway HomeServices Yost & Little Realty
- Tracy Dodson at Lincoln Harris – Corporate
- Alec Cantley at Carolina Mountains Sales
- Paul Pursell at Colliers International
- Robert Podewils at Sperry Van Ness/Commercial Real Estate Advisors
- Don Batten at Real Living Pittman Properties
- Elizabeth Luck at Real Living Pittman Properties
- Mark Staples at KW Commercial-Chapel Hill
- Jared Londry at Cassidy Turley
- Jasmine Turner at Legacy Real Estate Advisors, LLC
- Mike Linford at KW Commercial-Chapel Hill
- Joe Tomlinson at Berkshire Hathaway HomeServices Yost & Little Realty
- SiteIndex CPE Weblink: Clearview Commercial Real Estate Advisors
Not a subscriber? Contact our sales team today!
Posted on May 8, 2014 by info4karnesco - 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
As 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!
Thirteen winners were honored on May 1st, a the 2014 TCREW Champion Awards, of which KARNES managing partner Brian Reece was honored to serve as a panel judge. Mr. Reece, who has served as a judge for the Champion Awards for each of the past 8 years, was one of six panel judges that included the following:
- Adrienne Cole, Senior Vice President and Executive Director of Wake county Economic Development
- Ted Conner, Senior Vice President of Economic Development for the Greater Durham Chamber of Commerce
- Lee Anne Nance, Executive Vice President of the Research Triangle Regional Partnership
- Liz Rooks, Executive Vice President and Chief Operating Officer of the Research Triangle Foundation
- Brian Reece, Managing Partner of KARNES
The well-attended Triangle Commercial Real Estate Women (TCREW) event was held at the Cary Embassy Suites and the award winners included the following:
Preliminary data for the first quarter of 2014 show that the I-77/Southwest office submarket will lead the region in demand during the first quarter of 2014 with nearly 155,000 square feet of positive net abortion.
Significant leases reported in the I-77/Southwest office submarket during the first quart of 2014 include:
- Red Classic Services, a transportation division of Coca-Cola, leased 16,250 square feet at Patriot Plaza.
- Shelco moved into 20,822 square feet at LakePointe’s Corporate Center One.
- LPL Financial Services signed a temporary lease for 62,795 square feet at Airport Plaza.
- Carolinas HealthCare System occupied the 66,864-square-foot Arrowpoint One.
Two buildings were removed from the Karnes dataset of multi-tenant for lease office inventory during the first quarter of 2014 in Charlotte’s second largest suburban submarket. The Atrium Corporate Centers at 4421 Stuart Andrew Blvd. and 4335-4339 Stuart Andrew Blvd. were purchased by Mecklenburg County Schools for $7.5 million and will serve as their headquarters allowing for consolidation of their offices across the region. The buildings which total nearly 150,000 square feet had almost 50,000 square feet marketed vacant when removed.
I-77/Southwest’s office vacancy fell 2.2% points from the end of 2013 to during the first quarter of 2014. At 19.1%, I-77/Southwest’s first quarter of 2014 office vacancy was 8.1% points lower than the 27.2% high reported at the end of 2011.
The U.S. Department of Veterans Affairs chose a site next to LakePointe Corporate Centers Five and Three for a six-story health-care center that will be developed by Childress Klein-Cambridge Healthcare Solutions, designed by RPA Design and constructed by J. E. Dunn Construction Company. The 295,000-square-foot facility will offer out-patient primary care and specialty services and is expected for completion by the third quarter of 2016.
Continued leasing success and pre-leasing could prompt developers to break ground on portions of the 2.4 million square feet of proposed office space in the I-77/Southwest office submarket. One of the largest and most recently announced proposed projects in the I-77/Southwest office submarket is the 400,000-square-foot expansion at Coliseum Centre that could attract current neighboring tenants in the area like The Lash Group and LPL Financial to expand their foot print into new space.
Brian Reece, managing partner, will be representing KARNES at the State of Downtown Raleigh (DRA) 2014 being held Thursday, April 17th.
According to the Downtown Raleigh Alliance site, this event will provide a comprehensive market analysis of Raleigh’s Central Business District (CBD) for the purpose of informing – and exploring new partnerships with – the investor and real estate community. This is the premier event for developers, brokers, and economic developers whose clients would benefit from learning more about Raleigh’s CBD.
David Diaz, President & CEO of the DRA, will moderate the panel discussions at the event.
As Silver Sponsor’s, KARNES is proud to attend this event, which will take place from 8:00AM-10:00AM at the Duke Energy Center for the Performing Arts in Raleigh.
Join Managing Partner Andrew Jenkins and Market Analyst Will Harkins, Wednesday, April 9th, as KARNES and local commercial real estate professionals attend the 2014 CCIM Charlotte Market Forecast. KARNES is pleased to be a Statewide Bronze Sponsor of this event, as well as the Triad and Triangle Market Forecasts held last month. KARNES will be providing copies of our 3rd annual Tri-City North Carolina Commercial Real Estate Market Report at the event, so 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.
Speakers at the Charlotte Market Forecast will include discussions with NC Governor Pat McCrory and NC Secretary of Commerce Sharon Decker and will be moderated by Jim Rodgers.
The event will be held at the Carmel Country Club in Charlotte. Registration and networking will begin at 11:10am, and the program luncheon will begin at 12pm.
Posted on April 4, 2014 by sales4karnesco - 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
With 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!