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!

KARNES Suit and Tie Ready For TAA’s 30th Anniversary Gala Celebration

Posted on February 27, 2014 by - Apartments, Events, Raleigh, Triangle, Uncategorized

TAA BrianBrian Reece, managing partner of KARNES, will be sharply dressed and in attendance at the black tie, formal TAA (Triangle Apartment Association) 30th Anniversary Gala Celebration.

According to the TAA website, the 30 year celebration will include food, music, dancing, networking and a stroll down memory lane!

The event will take place Thursday, February 27th from 6-9pm at the Renaissance Raleigh North Hills Hotel.

Looking for a one-stop solution for Triangle apartment market research and analysis? Contact our sales team today!

Lincoln Harris Adding 480,000 SF Capitol Towers at Carnegie on Former Maersk Distribution Site in SouthPark

Posted on December 13, 2013 by - Charlotte, Construction Update, Development, KARNES Perspective, Office

SouthPark Vacancy Trends 2009-3Q13

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.

Apartment Construction Continues in the Triangle with 23-story Development in Downtown Raleigh

Posted on December 12, 2013 by - Apartments, Construction Update, Raleigh

SkyhouseRaleighWith 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.

KARNES Sponsors The 6th Annual TAA 5-Star Appreciation Dinner

Posted on October 9, 2013 by - Apartments, Chapel Hill, Durham, Events, Raleigh, Triangle

Brier CreekBrian Reece, managing partner, will represent KARNES at the 6th Annual TAA  (Triangle Apartment Association) 5-Star Appreciation Dinner.  According to the TAA website, the event will be attended by Regional Property Managers and Owners and was designed to serve as a “networking” social opportunity; and as such, there will be no sales presentations or pitches during the evening.

The event will take place Thursday, October 10th from 6pm-9pm at the Brier Creek Country Club located at 9400 Club Hill Drive in Raleigh.

Looking for a one-stop solution for Triangle apartment market research and analysis? Contact our sales team today!

KARNES to speak at July 17th Triangle IREM Meeting

Posted on July 16, 2013 by - Apartments, Commercial Property Exchange, Events, In the News, Industrial, Office, Raleigh, Retail, Triangle

Brian Reece, managing partner, KARNESBrian Reece, managing partner of KARNES, will discuss Triangle Commercial Market conditions at the July IREM (Institute of Real Estate Management’s) meeting.  Mr. Reece’s presentation will provide a snapshot of the Triangle Office, Industrial, Retail and Apartment markets, to begin at noon on Wednesday, July 17th at the McKimmon Conference and Training Center located at 1101 Gorman Street in Raleigh.

Current IREM president, Gary Triplett, CPM®, says that Reece’s presentation is an annual highlight of their chapter’s presentation season and is always well attended by members of the real estate community. He says he expects this meeting to be no exception.

“We’re always grateful to Brian for giving IREM his time and valuable market insights to our membership,” says Triplett. “He’s been part of our presentation lineup for several years now, and his industry insights, experience, and expertise continue to make him one of our most valued speakers. Given the continued uncertainty of the real estate market, Brian’s presentation is extremely timely and will be of particular importance to the real estate professional.”

KARNES Sponsors the TAA Leadership of Excellence Program

Posted on June 13, 2013 by - Apartments, Durham, Events, Raleigh, Triangle

Brian Reece, managing partner, KARNESBrian Reece, managing partner, will represent KARNES as the company sponsors the TAA (Triangle Apartment Association) Leadership of Excellence Program. According to the TAA website, this nine-month program, is an ideal platform for preparing leaders of tomorrow and has been designed for any individual who is ready to assume a leadership role. The event will take place Thursday, June 13th from 9am-3pm at the TAA/CRC Education Center located at 7920 ACC Blvd., Suite 220 in Raleigh.

Looking for a one-stop solution for Triangle apartment market research and analysis? Contact our sales team today!

KARNES To Speak At TAA Regional Roundtable Tomorrow

Posted on May 2, 2013 by - Apartments, Chapel Hill, Durham, Events, Raleigh, Triangle

TAA BrianBrian Reece, managing partner of KARNES, will be a speaker at the TAA (Triangle Apartment Association) Regional Roundtable & Mini Economic Forum.  This event will provide regional property managers and executive officers an opportunity to exchange ideas and information with other professionals within the industry.

Mr. Reece’s discussion will be centered around the “State of the Triangle Apartment Market.”

According to the TAA website, the Roundtable Forum is a TAA members only event for Regional Property Managers and Executive Officers only.

The event will take place Friday, May 3rd from 12-2pm at the TAA/CRC Education Center located at 7920 ACC Blvd., Suite 220 in Raleigh.

Looking for a one-stop solution for Triangle apartment market research and analysis? Contact our sales team today!

News 14 Carolina’s Downtown Raleigh Coverage Features KARNES

Posted on April 17, 2013 by - Apartments, In the News, KARNES Perspective, Office, Raleigh, Triangle

Brian Reece News Channel 14 Carolina Downtown Raleigh AllianceBrian Reece, managing partner of KARNES was featured today on News 14 Carolina following the Downtown Raleigh Alliance presentation on the state of the Downtown Market. Click here to see the full video or click here for the article. For more information on the Downtown Raleigh Office, Industrial, and Retail Markets, please visit www.trianglecpe.com for commercial availabilities and analysis. To find out more about the multifamily market in Downtown Raleigh or the Triangle Region, please visit www.aptxchange.com. Here are some highlights from the most recent Triangle Apartment Market Report, provide by KARNES and www.aptxchange.com:
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KARNES To Speak At DRA State of Downtown Raleigh 2013 Tomorrow

Posted on April 16, 2013 by - Apartments, Commercial Property Exchange, KARNES Perspective, Raleigh, Triangle

Brian Reece, managing partner, KARNESBrian Reece, managing partner of KARNES, will be a speaker at the Downtown Raleigh Alliance (DRA) State of Downtown Raleigh 2013.  At the event, attendees will hear about 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.

Mr. Reece’s discussion will provide a multi-family update, including occupancy trends and the current boom in apartment development activity in downtown

According to the Downtown Raleigh Alliance website, this is the premier event for developers, brokers, and economic developers whose clients would benefit from learning more about Raleigh’s CBD.

The event will be Wednesday, April 17th from 8-10am at the Raleigh Marriott City Center, located at 500 Fayetteville St.