Brian 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.”
Posted on April 18, 2013 by info4karnesco - Charlotte, Commercial Property Exchange, Construction Update, Greensboro/Winston-Salem/High Point, In the News, Industrial, KARNES Perspective, Office, Raleigh, Retail, Triangle
Andrew Jenkins, managing partner of KARNES, was a speaker today at the Appraisal Institute 2013 Real Estate Valuation Conference, which took place in Charlotte. The panel event featured various industry experts including Mark Vitner (Senior Economist, Wells Fargo), Roger Cobb ( Broker, Selwyn Property Group), Jon Morris (Broker, Beacon Partners), and Henry Breaux (Broker, The Providence Group).
Mr. Jenkins’s discussion provided an insight into commercial market data, analysis and trends, from the largest regions across North Carolina.
Click here to download a PDF version of the presentation and read on for a transcript of the presentation’s key points:
Tri-City Market Overview
April 18, 2013
Presented by Andrew Jenkins, Managing Partner, KARNES
Tri-City Market Overview Introduction
- KARNES began producing the Tri-City Commercial Real Estate Market Report in 2012 in an effort to bring a standardized analysis method across the state.
- The intention of the report is to provide an annual review, at a high level, of the commercial markets in the three major NC regions.
Brian 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:
Brian Reece, managing partner of KARNES was featured yesterday on News 14 Carolina regarding Dominion Realty Partners’ plan to develop an 11 story office building, with more than 200,000 square feet of commercial space, in Downtown Raleigh. Click here to see the full video or click here for the article. For more information on the Triangle Office Market, please visit www.trianglecpe.com for office availabilities and office analysis. Here are some highlights from the most recent Triangle Office Market Report, provide by KARNES and www.trianglecpe.com:
As Harris Teeter reclaims the No. 1 retailer position in Charlotte, according to the latest data by Chain Store Guide, the Charlotte Observer provides a report on the details, featuring analysis by KARNES. Read the entire article here: After store swap, Harris Teeter back at No. 1 in Charlotte area and additional retail analysis by KARNES below:
With the introduction of Publix into the Charlotte regional grocery market, the retail landscape continues to change. Historically low new retail supply over the past 2 years, which averaged approximately 262,050 square feet per year, was delivered in the Charlotte region, according to the 2nd Half 2012 KARNES Retail Report. This level of new supply was well below the average of 1.9 million square feet per year completed in the region between 2000 and 2010, allowing for retailers to focus on core locations as opposed to rapid expansions. Community and Neighborhood Centers, commonly anchored by grocery chains reported vacancy rates of 8.7% and 12%, respectively, at the end of 2012. These rates were down from the 9.3% (Community) and 12.3% (Neighborhood) reported at the end of 2010, but remained higher than the 6.6% (Community) and 7.8% (Neighborhood) reported at the end of 2008.
Andrew Jenkins, Managing Partner, KARNES
Andrew Jenkins, managing partner of KARNES was featured today on WFAE, Charlotte’s NPR News Source. Mr. Jenkins offered up his firms opinion on Publix’s bid to enter the Charlotte market and compete against Harris Teeter.
Click here to listen to the full coverage at WFAE.org
KARNES was pleased to be in attendance for the Charlotte Business Journal’s Commercial Real Estate Quarterly (CREQ) Live event this morning, which featured Johnny Harris, President and Chief Executive Officer of Lincoln Harris. Mr. Harris provided the audience with a fireside chat, conducted by the Charlotte Business Journal’s Will Boye, covering a range of topics including his involvement in the development of commercial real estate in Ballantyne, SouthPark, and Uptown Charlotte.
The keynote by Mr. Harris was preceded by a lively roundtable discussion involving the winners of the 2013 CRCBR® Deal Makers Awards, an annual awards program officially audited by KARNES. Award winners and panelist included Jensie Teague of Selwyn Property Group, Inc., Rob Pressley of Coldwell Banker Commercial-MECA, Christopher Skibinski of The Skibinski Company, Brian Brtalik of Cusham & Wakefield | Thalhimer, and Phil Brosseau, Jr. of CBRE.
The CREQ Live event is the Charlotte Business Journal’s semi-annual event that brings the Charlotte Business Journal’s Commercial Real Estate Quarterly (CREQ) publication to life. For over 20 years KARNES has been the source for the Charlotte Business Journal’s CREQ exclusive commercial real estate content and looks forward to many more years working together with the Charlotte Business Journal.
Please be sure to update your commercial real estate listings at SiteIndexCharlotte.com to be included in the next CREQ publication, which will be available on May 17th, 2013.
Brian Reece, managing partner of KARNES was featured tonight on WRAL TV regarding construction activity in the Triangle Apartment market. Click here to see the full video or click here for the article. For more information on the Triangle Apartment Market, please visit aptxchange.com for online apartment market analysis. Here are some highlights from the most recent Triangle Apartment Market Report, provide by KARNES and aptxchange.com:
A total of 6,106 units were under construction in the Triangle as of September 2012. Construction was observed in all but three of the eleven Triangle submarkets. Southwest Wake was the most active submarket in the region with 1,871 units under construction, although 277 of these units were located in a student housing project. Cary/Morrisville/Apex ranked second with 1,181 units under construction, while Northwest Wake ranked third with 749 units under construction. No units were under construction in Orange County as of September 2012.
Charlotte Business Journal
December 2, 2011
Trinity Capital Advisors and Rubenstein Partners are the big winners in the Chiquita Brands International relocation. But the banana company’s decision to move its corporate headquarters here is a positive sign even for those landlords who didn’t land the new tenant.
At a press conference this week announcing its relocation from Cincinnati, Chiquita confirmed it is negotiating to relocate its headquarters to NASCAR Plaza, the 19-story, 390,000-square-foot office tower at the corner of South Caldwell and East Stonewall streets. Trinity and Rubenstein purchased the building early in 2011, after it had fallen into foreclosure in late 2010. Chiquita is expected to lease 150,000 square feet at NASCAR Plaza, which lists 255,800 square feet as available.
Among Charlotte-area warehouses and distribution centers, vacancy rates are rising. Rents are falling. Yet two local developers are betting now is the time to build more than 300,000 square feet of new industrial space…Charlotte’s industrial market has fared relatively well during the recession compared with the office and retail markets because developers didn’t overbuild, said Karnes analyst Andrew Jenkins. One reason is developers grew cautious when industrial vacancy rates peaked at 19.2 percent in 2003, Jenkins said, “scaring everyone into being careful where they built.”
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