See You at CRCBR’s BrokerNet on Wednesday, November 12th

Posted on November 10, 2014 by - BrokerNet, Charlotte, Commercial Property Exchange, CRCBR, Events, New Features, New Subscribers, New Users, SiteIndex, Subscribers

The Unknown Brewing Co.The KARNES  Team will be attending the CRCBR (Charlotte Region Commercial Board of Realtors) BrokerNet on Wednesday, November 12th from 5:30pm-7:30pm at The Unknown Brewery (1327 S Mint Street Charlotte, NC 28203).

This event will be a great opportunity for SiteIndex users to ask general questions, find out more information regarding recent upgrades and future system enhancements.

Please note that only members listed in the CRCBR directory are allowed to attend this event.  Corporate Associate membership is handled on a per person basis, not per company. Complimentary beverages and appetizers will be provided, along with free parking.

This members-only event is no charge.  To register, please click here.

KARNES Tri-City North Carolina Office 2013 Year in Review

Posted on July 21, 2014 by - 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.

KARNES Charlotte Office Leasing Activity

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.

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KARNES Continues New User Surge In May

Posted on June 2, 2014 by - 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

New KARNES MembersAs 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!

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!

Lincoln Harris Takes Over Leasing of Recently Purchased Medical Offices

Posted on April 4, 2014 by - Office, Raleigh, Triangle CPE

Velocis Sunset, L. P. purchased Sunset One and Sunset Two from JDL Investments LLC for $4,937,500 on March 30, 2014.

Sunset One

Sunset One was purchased 3/10/14 for $1,988,500 by Velocis Sunset, L. P.
Lincoln Harris is marketing 4,316 square feet available for $21.00 per square foot.

The medical buildings within walking distance to Rex Hospital in West Wake were 85% occupied when marketed by Avison Young at the point of sale to Velocis. At 9.6%, the West Wake submarket reported the lowest vacancy rate of the suburban submarkets at the end of 2013 with only the urban submarkets Cameron Village (2.7%), Downtown Raleigh (5.3%) and Downtown Durham (8.8%) reporting lower vacancy rates.

Lincoln Harris took over leasing and management of the buildings at the beginning of the second quarter of 2014.

Sunset Two

Sunset Two was purchased 3/10/14 for $2,949,000 by Velocis Sunset, L. P.
Lincoln Harris is marketing 2,049 square feet available for $21.00 per square foot.

The 16,000-square-foot Sunset One only has one first floor suite available totaling 4,316 square feet.

The 28,000-square-foot Sunset Two has a 2,049-square-foot space available on the third floor.

The full service asking rental rate of $21.00 per square foot marketed for the two buildings was $1.15 per square-foot lower than the average rate reported in West Wake ($22.15 psf) at the end of 2013 which should allow Lincoln Harris to succeed in quickly filling remaining space in the newly acquired properties for Velocis.

 

 

See You at CRCBR’s BrokerNet on Thursday, March 27th

Posted on March 26, 2014 by - BrokerNet, Charlotte, Commercial Property Exchange, CRCBR, Events, Office, Retail, SiteIndex, Subscribers

Villages at SouthParkThe KARNES  Team will be attending the CRCBR BrokerNet on Thursday, March 26th from 5:00pm-7:30pm at Chuy’s SouthPark (4310 Sharon Rd. Charlotte, NC 28211).

This event will be a great opportunity for SiteIndex users to ask general questions, find out more information regarding recent upgrades and future system enhancements.

Please note that only members listed in the CRCBR directory are allowed to attend this event.  Corporate Associate membership is handled on a per person basis, not per company. Complimentary beverages and appetizers will be provided, along with free parking.

This members-only event is no charge.  To register, please click here.

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 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.

KARNES To Discuss Commercial Development Trends

Posted on February 18, 2014 by - Commercial Property Exchange, KARNES Perspective, Office, Triangle, Uncategorized

Brian Reece, managing partner, KARNESJoin Managing Partner, Brian Reece, as he presents commercial and office development trends at the Triangle J Council of Governments Annual Development Review Update.  Informal discussions will take place following presentations.

According to the Triangle J Council of Governments, the Smart Growth Committee invites elected officials, municipal and county staff, Planning & Zoning Board members of the business and academic community and others who are interested in development patterns that sustain economic development and a clean, healthy environment to join with them in this program.

The event will take place Tuesday, February 18th from 2-4PM at the Triangle J Council of Governments (4307 Emperor Blvd., Durham)

 

Wake Forest School of Medicine into 120,000 sq. ft. in the Wake Forest Innovation Quarter

Posted on December 16, 2013 by - Greensboro/Winston-Salem/High Point, Office

525@VineThe 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.

Full Press Release